First Trust Flexible Municipal High Income ETF (MFLX)

For informational purposes only. Not financial advice.

Quick Answer

First Trust Flexible Municipal High Income ETF (MFLX) has a last stored price of $15.88, as of the Oct 2, 2026 trading session. It has a 0.75% expense ratio and $18M in assets under management.

In the stored portfolio snapshot, the largest sector allocation is Cash & Others at 82.9%.

First Trust Flexible Municipal High Income ETF (MFLX) ETF — Price, Holdings & Analysis

ETF Overview

The First Trust Flexible Municipal High Income ETF (the "Fund") (formerly First Trust Municipal CEF Income Opportunity ETF) seeks to provide current income. Under normal market conditions, the Fund seeks to achieve its investment objective by investing at least 80% of its net assets (plus any investment borrowings) in municipal debt securities that pay interest that is exempt from regular federal income taxes. Municipal debt securities are generally issued by or on behalf of states, territories or possessions of the United States and the District of Columbia and their political subdivisions, agencies, authorities and other instrumentalities. First Trust Flexible Municipal High Income ETF provides exposure to the municipal bond market. The portfolio is moderately concentrated with 72 holdings. It is heavily weighted toward Cash & Others (82.9%), reflecting a sector-tilted strategy.

Risk Metrics

The fund holds 72 positions, providing a moderate level of diversification. Heavy allocation to Cash & Others (82.9%) means sector-specific downturns could disproportionately affect performance. The 0.75% expense ratio is above average and will reduce net returns over time. With $18M in assets, the fund may face liquidity constraints and wider bid-ask spreads.

Beta: 1.10

Expense Ratio

0.75%

How Is the Fund Allocated?

Sector	Weight
Cash & Others	82.9%
Financial Services	17.1%

Country	Weight
Other	93.1%
United States	6.9%

Dividend Yield

0.00%

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First Trust RiverFront Dynamic Emerging Markets ETF (RFEM) (International Equity) — 0.99% expense ratio

Questions & Answers

What is First Trust Flexible Municipal High Income ETF (MFLX)?

First Trust Flexible Municipal High Income ETF (MFLX) is an exchange-traded fund. In the stored fund data, it holds 72 positions, has its largest sector allocation in Cash & Others (82.9%) and charges a 0.75% expense ratio.

What is the expense ratio for MFLX?

First Trust Flexible Municipal High Income ETF has an expense ratio of 0.75%, which is considered higher than average for municipal bond ETFs. This means for every $10,000 invested, annual fees would be approximately $75.

Lower expense ratios generally lead to better long-term returns, all else being equal.

What sectors does MFLX invest in?

First Trust Flexible Municipal High Income ETF allocates across 2 sectors. The largest sector exposures are Cash & Others (82.9%), Financial Services (17.1%). The fund is heavily concentrated in Cash & Others.

How long has MFLX been around?

First Trust Flexible Municipal High Income ETF was launched in 2016, making it 10 years old. With over a decade of history, it has navigated various market conditions.

What is the current NAV of MFLX?

First Trust Flexible Municipal High Income ETF has a net asset value (NAV) of approximately $17.11 per share. The NAV represents the per-share value of the fund's underlying assets minus liabilities.

Market price may differ slightly from NAV due to supply and demand dynamics during trading hours.

Disclaimer: This content is for informational purposes only and does not constitute investment advice. Always do your own research and consult a financial advisor.

Data provided for informational purposes only.

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