ETFdb Logo
  • ETF Database
  • Channels
    • Themes
      • Active ETF
      • Alternatives Channel
      • Artificial Intelligence
      • China Insights
      • Climate Insights
      • Core Strategies
      • Crypto
      • Disruptive Technology
      • Energy Infrastructure
      • ETF Building Blocks
      • ETF Education
      • ETF Investing
      • ETF Strategist
      • Faith-Based Investing
      • Financial Literacy
      • Fixed Income
      • Free Cash Flow
      • Innovative ETFs
      • Invest Beyond Cash
      • Leveraged & Inverse
      • Modern Alpha
      • Portfolio Strategies
      • Tax Efficient Income
    • Asset Class
      • Equity
        • U.S. Equity
        • Int'l Developed
        • Emerging Market Equities
      • Alternatives
        • Gold/Silver/Critical Materials
        • Crypytocurrency
        • Currency
        • Volatility
      • Fixed Income
        • Investment Grade Corporates
        • US Treasuries & TIPS
        • High Yield Corporates
        • Int'l Fixed Income
    • ETF Ecosystem
    • ETFs in Canada
    • Market Outlook
  • Tools
    • ETF Screener
    • ETF Country Exposure Tool
    • ETF Database Categories
    • Indexes
    • Scenario Analysis
    • Watchlists
    • Head-To-Head ETF Comparison Tool
    • Mutual Fund To ETF Converter
    • ETF Stock Exposure Tool
    • ETF Issuer Fund Flows
  • Research
    • ETF Education
    • Equity Investing
    • Dividend ETFs
    • Leveraged ETFs
    • Inverse ETFs
    • Index Education
    • Index Insights
    • Top ETF Sectors
    • Top ETF Issuers
    • Top ETF Industries
  • Webcasts
  • Themes
    • AI ETFs
    • Blockchain ETFs
    • See all Thematic Investing ETF themes
    • ESG Investing
    • Marijuana ETFs
  • Multimedia
    • ETF 360 Video Series
    • ETF of the Week Podcast
    • Gaining Perspective Podcast
    • ETF Prime Podcast
    • Video
  • Company
    • About VettaFi
    • Get VettaFi’ed
  • PRO
    • Pro Content
    • Pro Tools
    • Advanced
    • FAQ
    • Pricing
    • Free Sign Up
    • Login
  1. First Trust Releases High Income ETF, FMNY
News
Share

First Trust Releases High Income ETF, FMNY

Aaron NeuwirthMay 13, 2021
2021-05-13

On Thursday, First Trust Advisors L.P., a leading ETF provider and asset manager, announced the launch of a new actively managed ETF, the First Trust New York Municipal High Income ETF (NYSE Arca: FMNY). The fund seeks to provide income exempt from regular federal, New York State, and New York City income taxes, with long-term capital appreciation as a secondary objective. The fund will seek to achieve its investment objectives by investing primarily in municipal debt securities issued by the state of New York.

“As investors prepare for the prospect of higher taxes, we believe demand for tax-free municipal bond ETFs may accelerate in the months ahead,” said Ryan Issakainen, CFA, Senior Vice President, ETF Strategist at First Trust. He continued, “Our experienced municipal securities team at First Trust employs a rigorous, disciplined approach to managing risk while seeking to capitalize on the yield curve, industry weightings, and individual credit opportunities.”

The First Trust Municipal Securities Team applies both quantitative analysis and fundamental research to seek higher-yielding undervalued securities within the municipal market. In choosing the securities, the portfolio managers seek to take advantage of municipal market inefficiencies through an investment process that practices diligent credit analysis of individual issuers, coupled with a thorough understanding of the major opportunities and risks within municipal sectors. They also apply a quantitative total return scenario analysis using multiple interest rate assumptions over different time horizons.

The First Trust Municipal Securities Team sees ample opportunities in municipal securities. In their view, credit fundamentals are improving for many municipal security issuers, and taxable equivalent yields are attractive relative to other fixed income asset classes. Given the potential for interest rates to continue to rise as a result of stronger economic growth, the team believes that in the current market, the fund’s long-intermediate focus may provide investors less interest rate sensitivity than longer duration portfolios.

Johnathan N. Wilhelm, Senior Vice President, and Tom Futrell, CFA, Senior Vice President at First Trust, serve as senior portfolio managers of the fund. The two will share responsibilities for the day‑to‑day management of the fund’s investment portfolio.

For more information about First Trust, visit www.ftportfolios.com.

This article originally appeared on ETFTrends.com.


Content continues below advertisement

» Popular Pages

  • Tickers
  • Articles

May 22

Global Macro a Top Hedge Fund Performer in 2025

May 22

SPYI Nets Over $1 Billion in AUM In 2025

May 22

ETF 360: Innovator Looks to the Put

May 22

In Ongoing Volatility, Look to Hedged Equity Strategies

May 22

Most Recent Tech Earnings Ease Anxiety Over AI Trade

May 22

Target Earnings Troubles Call for a Diversified Approach

May 22

Use ETFs to Play Both Sides in the U.S.-China AI Race

May 22

ETF of the Week: abrdn Bloomberg All Commodity Strategy K-1 Free ETF (BCI)

May 22

Big Mag 7 Rally Pays Off for QBIG

May 22

Innovation In Indexing: Why Passive ETFs Matter

VOO

Vanguard S&P 500 ETF

QQQ

Invesco QQQ Trust Series I

IBIT

iShares Bitcoin Trust ETF

SPY

SPDR S&P 500 ETF Trust

GLD

SPDR Gold Shares

SCHD

Schwab US Dividend Equity ETF...

IVV

iShares Core S&P 500 ETF

VEA

Vanguard FTSE Developed...

VTI

Vanguard Total Stock Market...

CNBS

Amplify Seymour Cannabis ETF


Content continues below advertisement

Loading Articles...
Our Sites
  • VettaFi
  • Advisor Perspectives
  • ETF Trends
Tools
  • ETF Screener
  • Mutual Fund to ETF Converter
  • Head-To-Head ETF Comparison
  • ETF Country Exposure Tool
  • ETF Stock Exposure Tool
  • ETF Database Pro
More Tools
  • Financial Advisor & RIA Center
Explore ETFs
  • ETF News
  • ETF Category Reports
  • Premium Articles
  • Alphabetical Listing of ETFs
  • Browse ETFs by ETF Database Category
  • Browse ETFs by Index
  • Browse ETFs by Issuer
  • Compare ETFs
Information
  • Contact Us
  • Terms of Use and Privacy Policy
  • © 2025 VettaFi LLC. All rights reserved.

Advertisement

Is Your Portfolio Positioned With Enough Global Exposure?

ETF Education Channel

How to Allocate Commodities in Portfolios

Tom LydonApr 26, 2022
2022-04-26

A long-running debate in asset allocation circles is how much of a portfolio an investor should...

Core Strategies Channel

Why ETFs Experience Limit Up/Down Protections

Karrie GordonMay 13, 2022
2022-05-13

In a digital age where information moves in milliseconds and millions of participants can transact...

}
X