ETF PROAI
FSMBFIRST TRUST SHORT DURATION MANAGED MUNICIPAL ETFACTIVE

FIRST TRUST SHORT DURATION MANAGED MUNICIPAL ETF

$19.46+0.39% vs prior close
19.392052-WK

Price through Sep 30 · Flows through unavailable. Figures use the latest available records, not a live quote. Fund details retrieved Sep 30. Holdings snapshot retrieved Sep 30.

Price & daily flows
19.7519.6219.4819.46DAILY NET FLOWSep 2Sep 11Sep 22Sep 30

SOURCE: MARKET TAPE & DAILY CREATION/REDEMPTION RECORDS · 1M SHOWN

The desk’s read

Recent fund-flow records are unavailable, while the price has returned -2.9% so far this year.

COMPOSED FROM THE FUND’S OWN DAILY RECORDS · UPDATED WITH EACH REFRESH

$429Massets under management
—expense ratio
—net flow, trailing month
261Kavg daily volume, 30 days
1holdings · US-domiciled
2024listed January 15, 2024 · beta 0.03
Sector weights
Cash & Others100%
Other100%
Municipal99.17%
Revenue81.91%
General obligation12.2%
Double barrel5.89%
Cash0.83%
PORTFOLIO COMPOSITION, LATEST DISCLOSURE
Performance
1 week-0.1%
1 month-1.9%
3 months-2.8%
6 months-2.5%
YTD-2.9%
1 year-3.1%
3 years—

PRICE RETURN, DISTRIBUTIONS NOT REINVESTED

Net flows
1 week—
1 month—
3 months—
YTD—
1 year—

CREATION/REDEMPTION DOLLARS, DAILY RECORDS

The risk read
3%realized volatility, 30 days (annualized)
2%realized volatility, 1 year
-4.2%deepest fall from a peak, 1 year
-3.9%latest close versus that peak

VOLATILITY & DRAWDOWN FROM THE DAILY TAPE · CONCENTRATION FROM THE LATEST DISCLOSED BOOK

Options tape
—calls · latest snapshot
—puts · latest snapshot
—put/call ratio
248Kshares traded
The case against FSMB

Due diligence cuts both ways. These funds sit on the same shelf and beat FSMB on at least one dimension that matters — the fee, the asset base, or where the money is going.

FundFeeAssetsFlow, 1MThe case
REW ProShares UltraShort Technology0.95%$4164.64T+$9309717500× the assets · +$930 in over the monthHead-to-head
RXD ProShares UltraShort Health Care0.95%$3134.41T+$1407313628× the assets · +$140 in over the monthHead-to-head
SDD ProShares UltraShort SmallCap6000.95%$1603.66T+$903741877× the assets · +$90 in over the monthHead-to-head
GDMN WisdomTree Efficient Gold Plus Gold Miners Strategy Fund0.45%$9897.51T—23094211× the assetsHead-to-head
UJB ProShares Ultra High Yield ETF0.96%$9813.44T−$8M22898047× the assetsHead-to-head
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InstrumentsHarvest substitutesTrade cost at $1MClient tearsheetStress this fund
THE DESK BRIEF

Flows, fee cuts, and closure risk on the funds you watch — every trading morning.