MFLX

First Trust Flexible Municipal High Income ETF

First Trust · Bonds & Cash

$16.34▲ +0.6% last session▼ −0.5% YTD

As of 10/29/2026, 4:00:00 PM ET · End-of-day

ETFETF Tracker@TheETFTracker · etftracker.io

Dividend-adjusted total return. Comparisons share the fund’s start date. S&P 500 uses VOO. Missing history is unavailable.

Returns	1D	1M	3M	YTD	1Y	3Y	5Y	MAX
Total return	▲ +0.6%	▲ +3.1%	▼ −2.7%	▼ −0.8%	▼ −1.0%	▲ +18.2%	▼ −3.9%	▲ +17.7%
Peer average	▲ +0.1%	▲ +2.7%	▼ −0.9%	▼ −0.2%	▲ +0.1%	▲ +13.9%	▲ +1.9%	—
S&P 500 · VOO	▼ −0.4%	▲ +0.9%	▲ +3.3%	▲ +13.8%	▲ +13.3%	▲ +88.8%	▲ +81.9%	—

What’s in MFLX

What’s in this fund

MFLXFirst Trust Flexible Municipal High Income ETF

76 holdings

As of Oct 30, 2026

ETFETF Tracker@TheETFTracker · etftracker.io

Tile size = share of the fund

HoldingsTop 20 · as of Oct 30, 2026

1—COLUMBUS OH REGL ARPT AUTH REV 5.50%, due 01/01/20502.61%

2—MOBILE AL INDL DEV BRD REVENUE Variable rate, due 09/01/20312.58%

3—TARRANT CNTY TX CULTURAL EDU FACS FIN CORP 5%, due 09/01/20472.50%

4—JEFFERSON CNTY AL SWR REVENUE 5.25%, due 10/01/20422.38%

5—MET GOVT NASHVILLE & DAVIDSON CNTY TN 6%, due 12/01/20511.67%

6—OMAHA NE ARPT AUTH 5.50%, due 12/15/20511.57%

7—INDIANAPOLIS IN LOCAL PUBLIC IMPT BOND BANK 6%, due 03/01/20531.57%

8—MAINE ST FIN AUTH SOL WST DISP N/C, 5%, due 08/01/20351.57%

9—COLORADO ST HLTH FACS AUTH REV 5%, due 05/15/20451.56%

10—ERIE PA SWR AUTH 5%, due 12/01/20461.56%

11—DUTCHESS CNTY NY LOCAL DEV CORP N/C, 5%, due 10/01/20401.55%

12—MONROE CNTY GA DEV AUTH POLL CTRL REV Variable rate, due 04/01/20321.55%

13—HAMILTON CNTY OH HLTH CARE REV 5.25%, due 01/01/20451.53%

14—MASSACHUSETTS ST DEV FIN AGY REV 5.25%, due 06/01/20601.52%

15—UTAH CITY WEST PUBLIC INFRASTR DIST 1 UT 5.875%, due 12/01/20551.50%

16—SKAGIT CNTY WA PUBLIC HOSP DIST 1 5.50%, due 12/01/20541.50%

17—NEW HAMPSHIRE ST BUSINESS FIN AUTH 5.375%, due 04/01/20491.47%

18—CALIFORNIA ST MUNI FIN AUTH REV 6%, due 01/01/20551.46%

19—CAPITAL PROJS FIN AUTH FL EDUCTNL FACS 6.50%, due 06/15/20541.38%

20—POLK CNTY FL UTILITY SYS REVENUE 5.50%, due 10/01/20461.38%

Go deeper

Prospectus & documentsRead the official filings

SEC reported portfolio · 2026-08-31 ↗summary prospectus · SEC 497K ↗prospectus · SEC 497 ↗prospectus · SEC 497 ↗prospectus · SEC 497 ↗summary prospectus · SEC 497K ↗SEC reported portfolio · 2026-05-31 ↗SEC reported portfolio · 2026-02-28 ↗summary prospectus · SEC 497K ↗prospectus · SEC 497 ↗SEC reported portfolio · 2025-11-30 ↗prospectus · SEC 497 ↗summary prospectus · SEC 497K ↗summary prospectus · SEC 497K ↗SEC reported portfolio · 2025-08-31 ↗

Fund factsStructure & strategy

Issuer: First Trust
Inception: 2016-09-27
Exchange: NASDAQ
CUSIP: 33740F508
Structure: —
Benchmark: —
Leverage: 1x
Reset: —

The First Trust Flexible Municipal High Income ETF (MFLX), formerly known as the First Trust Municipal CEF Income Opportunity ETF, aims to generate current income. Under typical market conditions, the Fund endeavors to meet this goal by allocating a minimum of 80% of its net assets (plus any borrowed capital) to municipal debt securities. These investments feature interest payments that are exempt from regular federal income taxes. Municipal debt securities are commonly issued by or on behalf of U.S. states, territories, and possessions, along with the District of Columbia, and their associated political entities, agencies, and authorities. The Fund may invest in a broad spectrum of municipal instruments, including, but not limited to, municipal lease obligations (and their certificates of participation), general obligation bonds, revenue bonds, municipal notes, municipal cash equivalents, private activity bonds (including industrial development bonds), and bonds that are pre-refunded or escrowed to maturity.

Trading & liquidityNAV, volume & spreads

Reported net asset value: $16.36
NAV provider updated: 2026-10-29 UTC
Premium / discount: —
Median spread · 30D: —
Average volume · 30D: 7K
Shares outstanding: —
Options: —

DistributionsYield & payout history

TTM distribution yield: 4.4%
30-day SEC yield: —
Frequency: —
Latest ex-date: 2026-10-21

Distribution yield and SEC yield use different methodologies. Payouts may include income, capital gains, or return of capital.

Ex-date	Pay date	Per share
2026-10-21	2026-10-30	$0.06
2026-09-24	2026-09-30	$0.06
2026-08-21	2026-08-31	$0.06
2026-07-21	2026-07-31	$0.06
2026-06-25	2026-06-30	$0.06
2026-05-21	2026-05-29	$0.06
2026-04-21	2026-04-30	$0.06
2026-03-26	2026-03-31	$0.06
2026-02-20	2026-02-27	$0.06
2026-01-21	2026-01-30	$0.06
2025-12-12	2025-12-31	$0.06
2025-11-21	2025-11-28	$0.06

Fees & costsWhat ownership costs

Net expense ratio: 0.49%
Gross expense ratio: —
Management fee: —
Annual cost per $10,000: $49.00

Estimated annual expense excludes trading costs and assumes constant assets. Fee waivers and fund costs can change.

RiskVolatility & drawdown

Our risk indicator: 2/5 · rule-based
Annualized volatility · 1Y: 5.19%
Beta vs VOO · 1Y: —
Maximum drawdown · 1Y: ▼ −8.9%

Historical risk measures describe past behavior and do not predict future returns.

From the issuer

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