FMB First Trust Managed Municipal Fund

About this ETF

The First Trust Managed Municipal Fund is a type of actively managed exchange-traded fund (ETF) that specializes in municipal bonds. Municipal bonds are debt securities issued by states, cities, counties, and other governmental entities to fund public projects such as schools, highways, and infrastructure improvements. The primary function of this fund is to provide investors with tax-exempt income from interest payments on the underlying municipal bonds. This fund is distinct for its active management strategy, where experienced portfolio managers select bonds based on credit quality, duration, and yield considerations, aiming to optimize performance and manage risk. The First Trust Managed Municipal Fund plays a critical role in the market by enabling both individual and institutional investors to diversify their portfolios with potentially lower-risk income sources. Its focus on municipal bonds also supports funding for local government projects, thus contributing to community development and public service improvements.