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ETF NYSE Arca USD

First Trust Short Duration Managed Municipal ETF FSMB

Issuer: First Trust SEC registrant: First Trust Exchange-Traded Fund III Fixed income · US
Watch FSMB (sign in) Add to portfolio (FSMB) Set an alert for FSMB Compare FSMB with other ETFs Position size calculator for FSMB at 19.66 USD

How position sizing works
Last price 19.66 USD Change: Unchanged 0.00 Percent change: Up +0.03%

Source: Yahoo Finance (opens in a new tab) Observed · 1 day ago Quotes may be delayed

Expense ratio
0.55%
Prospectus 1 Dec 2025
Net assets
$621.7M
As of 31 Jul 2026
Holdings
551
As of 31 Jul 2026
12-month distribution yield
3.22%
Monthly
Asset class
Fixed income
From holdings

First Trust Short Duration Managed Municipal ETF (FSMB) is an exchange-traded fund listed on NYSE Arca in the United States, issued by First Trust. Its category is Fixed income · US (fixed income). Its last price was US$19.66 on 20 Oct 2026. Its expense ratio is 0.55% a year, from its prospectus dated 1 Dec 2025. It reported net assets of US$621.73 million as of 31 Jul 2026. Its latest holdings report lists 551 holdings as of 31 Jul 2026. Over the last 12 months it paid distributions of US$0.63 a unit, a 12-month distribution yield of 3.22%, paid monthly.

General information only: nothing on TakeProfits takes into account your objectives, financial situation or needs, and it isn't personal financial advice or a recommendation to buy or sell anything. Consider whether it suits you and get advice from a licensed adviser before acting. Market data may be delayed and comes from third-party sources.

Fees

Total annual operating expenses (gross)
0.55%
Net, after fee waivers or reimbursements
No waiver stated
Management fee
0.55%
Prospectus date
1 Dec 2025
Filed with the SEC
28 Nov 2025

Source: SEC prospectus risk/return data sets (opens in a new tab) Filed

Size and reporting

Net assets
$621,734,152
Total assets
$625,315,452
Holdings as of
31 Jul 2026
Report made public
22 Sep 2026 (53 days after the month end)

Net assets are for the whole fund series, which for some funds (Vanguard's, for example) also includes mutual fund share classes.

Source: SEC Form N-PORT (opens in a new tab) Filed

Top holdings

Largest 25 of 551 positions, as of 31 Jul 2026. Weight is the percent of net assets the fund reported.

FSMB top holdings as of 31 Jul 2026
# Holding Identifier Weight Value (USD) Type Country Currency
1 SOUTHEAST ENERGY AUTHORITY (AL) AL SEEPWR 10/01/2055 US84136HAH66 1.01% $6.3M Debt United States USD
2 OHIO AIR QUALITY DEVELOPMENT AUTHORITY (OH) OH OHSDEV 11/01/2039 US677525WV57 0.77% $4.8M Debt United States USD
3 DALLAS & FORT WORTH CITIES TEXAS INTERNATIONAL AIRPORT (TX) TX DALAPT 5 11/01/2031 US23503CFS17 0.69% $4.3M Debt United States USD
4 PUBLIC FINANCE AUTHORITY (WI) WI PUBPOL 10/01/2046 US74447HAB42 0.69% $4.3M Debt United States USD
5 COLORADO HEALTH FACILITIES AUTHORITY (CO) CO COSMED 11/15/2060 US19648FZQ08 0.68% $4.2M Debt United States USD
6 MARATHON OIL CORP LA SJBCTF 06/01/2037 US79020FBB13 0.66% $4.1M Debt United States USD
7 UTAH (UT), COUNTY OF UT UTSMED 05/15/2058 US917393CY40 0.64% $4.0M Debt United States USD
8 PUBLIC ENERGY AUTHORITY OF KENTUCKY (KY) KY KYSPWR 01/01/2055 US74440DFC39 0.63% $3.9M Debt United States USD
9 MAIN STR ENERGY INC GA GA MSEPWR 5 12/01/2033 US560354AE25 0.62% $3.8M Debt United States USD
10 BURKE COUNTY DEVELOPMENT AUTHORITY (GA) GA BURPOL 11/01/2052 US121342PQ61 0.61% $3.8M Debt United States USD
11 PALM BEACH COUNTY HEALTH FACILITIES AUTHORITY (FL) FL PALMED 5 11/15/2032 US69650MAV19 0.60% $3.7M Debt United States USD
12 NEW YORK CITY MUNICIPAL WATER FINANCE AUTHORITY (NY) NY NYCUTL 06/15/2044 US64972GC444 0.56% $3.5M Debt United States USD
13 PUBLIC ENERGY AUTHORITY OF KENTUCKY (KY) KY KYSPWR 06/01/2055 US74440DFN93 0.56% $3.5M Debt United States USD
14 BLACK BELT ENERGY GAS DISTRICT (THE) (AL) AL BBEUTL 07/01/2052 US09182NCB47 0.55% $3.4M Debt United States USD
15 BLACK BELT ENERGY GAS DIST ALA AL BBEUTL 5 12/01/2031 US09182TGS06 0.54% $3.4M Debt United States USD
16 NEW MEXICO MUNICIPAL ENERGY ACQUISITION AUTHORITY (NM) NM NMSPWR 06/01/2054 US647207BL29 0.54% $3.4M Debt United States USD
17 MIAMI-DADE CNTY FLA FL MIATRN 5 10/01/2031 US593340AP79 0.52% $3.2M Debt United States USD
18 WHITING (IN), CITY OF IN WHGFAC 11/01/2045 US96634RAW25 0.50% $3.1M Debt United States USD
19 NEW YORK STATE HOUSING FINANCE AGENCY (NY) NY NYSHSG 05/01/2042 US64987JY622 0.50% $3.1M Debt United States USD
20 CALIFORNIA MUNICIPAL FINANCE AUTHORITY (CA) CA CASFIN 4 07/15/2029 US13050RAA05 0.49% $3.0M Debt United States USD
21 MARYLAND COMMUNITY DEVELOPMENT ADMINISTRATION (MD) MD COMMFH 3.3 01/01/2029 US20364NCK19 0.48% $3.0M Debt United States USD
22 ILLINOIS DEVELOPMENT FINANCE AUTHORITY (IL) IL ILSPOL 11/01/2044 US451889AT65 0.48% $3.0M Debt United States USD
23 INDIANA ST FIN AUTH IN INSMED 11/01/2056 US45470YHM66 0.48% $3.0M Debt United States USD
24 NEW YORK CITY MUNICIPAL WATER FINANCE AUTHORITY (NY) NY NYCUTL 06/15/2041 US64972GU289 0.48% $3.0M Debt United States USD
25 NORTH CAROLINA HOUSING FINANCE AGENCY (NC) NC NCSMFH 04/01/2029 US65821BAM72 0.46% $2.9M Debt United States USD

Source: SEC Form N-PORT (opens in a new tab) Made public Holdings as of 31 Jul 2026

All 551 stored holdings

Breakdowns

Sums of reported weights over every position in the report. Totals can differ from 100% because of derivatives, borrowing and cash.

Asset type

Asset type by weight
TypeWeightBar
Debt 99.02%

Country

Country by weight
CountryWeightBar
United States 99.02%

The country each issuer is assigned to in the report.

Currency exposure

Currency exposure by weight
CurrencyWeightBar
US dollar (USD) 99.02%

The currency each holding is denominated in. Currency hedges are not netted off, so a hedged fund still shows its holdings' currencies.

Sector

No sector data

None of this fund's holdings matched a stock listed on this site, so no sector is shown.

Partial coverage: sectors are known for 0.0% of net assets, the holdings matched by CUSIP or ticker to US stocks listed on this site. The rest is not assigned a sector.

Source: SEC Form N-PORT (opens in a new tab) Holdings as of

Distributions

Paid in the last 12 months
$0.6340
12 payments per unit
12-month yield
3.22%
Distributions only, not total return
Frequency
Monthly
From the gaps between ex-dates
Latest ex-date
24 Sep 2026

12-month yield = distributions per unit with an ex-date in the last 12 months ($0.6340) ÷ latest price ($19.66) × 100 = 3.22%. It looks back, so it is not a forecast; special distributions in the window are included.

Why a distribution yield is not the fund's return: yield vs total return

Distribution history table (59 payments)
FSMB distributions per unit by ex-date
Ex-dateAmount per unit
24 Sep 2026$0.0540
21 Aug 2026$0.0530
21 Jul 2026$0.0530
25 Jun 2026$0.0530
21 May 2026$0.0530
21 Apr 2026$0.0530
26 Mar 2026$0.0530
20 Feb 2026$0.0530
21 Jan 2026$0.0530
12 Dec 2025$0.0520
21 Nov 2025$0.0520
21 Oct 2025$0.0520
25 Sep 2025$0.0520
21 Aug 2025$0.0520
22 Jul 2025$0.0520
26 Jun 2025$0.0520
21 May 2025$0.0510
22 Apr 2025$0.0510
27 Mar 2025$0.0510
21 Feb 2025$0.0510
22 Jan 2025$0.0510
13 Dec 2024$0.0500
21 Nov 2024$0.0500
22 Oct 2024$0.0500
26 Sep 2024$0.0500
21 Aug 2024$0.0490
23 Jul 2024$0.0480
27 Jun 2024$0.0480
21 May 2024$0.0470
23 Apr 2024$0.0470
21 Mar 2024$0.0460
21 Feb 2024$0.0440
23 Jan 2024$0.0430
22 Dec 2023$0.0420
21 Nov 2023$0.0420
24 Oct 2023$0.0420
22 Sep 2023$0.0420
22 Aug 2023$0.0420
21 Jul 2023$0.0410
27 Jun 2023$0.0410
23 May 2023$0.0390
21 Apr 2023$0.0380
24 Mar 2023$0.0380
22 Feb 2023$0.0360
24 Jan 2023$0.0350
23 Dec 2022$0.0350
22 Nov 2022$0.0350
21 Oct 2022$0.0290
23 Sep 2022$0.0250
23 Aug 2022$0.0240
21 Jul 2022$0.0230
24 Jun 2022$0.0230
24 May 2022$0.0230
21 Apr 2022$0.0190
25 Mar 2022$0.0190
18 Feb 2022$0.0190
21 Jan 2022$0.0190
23 Dec 2021$0.0190
23 Nov 2021$0.0190

Source: Yahoo Finance (opens in a new tab) Checked · 2 days ago Amounts are adjusted for later unit splits

Filings and sources

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