# Portfolio overlap — MFLX vs FMB Comparing **First Trust Flexible Municipal High Income ETF** (2026-02-28) and **First Trust Managed Municipal ETF** (2026-04-30). - Shared positions: 15 - First Trust Flexible Municipal High Income ETF covered by First Trust Managed Municipal ETF: 0.02974244978954804047390560641 - First Trust Managed Municipal ETF covered by First Trust Flexible Municipal High Income ETF: 0.02974244978954804047390560642 ## First Trust Flexible Municipal High Income ETF — top positions | Security | Weight | Shared | |----------|--------|--------| | OH COLAPT 5.5 01/01/2050 | 0.029629 | | | Jefferson (County of), AL, Series 2024, Ref. RB | 0.027745 | ✓ | | NY DUTMFH 5 10/01/2040 | 0.018521 | | | CHARLSTN SC ARP 5.25% 7/1/2042 | 0.018406 | ✓ | | MAINE ST FIN AUTH SOL WST DISP REVENUE | 0.018064 | | | Indianapolis Local Public Improvement Bond Bank, Series 2023E | 0.017471 | | | PRG MEDFORD PROPERTIES INC 5.25% 06-01-60 | 0.017451 | | | WAKE ROBIN CORP 4.0% 05-01-37 | 0.017429 | | | TX WTR DEV BRD | 0.017379 | | | HAMILTON CO-REF | 0.017322 | | | ERIE SWR AUTH | 0.017293 | | | Skagit County, WA Public Hospital District No. 1 Hospital Rev. (Skagit Regional Health) | 0.017139 | | | Wisconsin (State of) Public Finance Authority (Miami Worldcenter), Series 2024 A, RB | 0.017062 | ✓ | | NEW HAMPSHIRE ST BUSINESS FIN AUTH WTR FAC REVENUE | 0.016939 | | | PREREF IOWA ST FIN AUTH MIDWSTRN DISA REGD V/R B/E PREREFUNDED 12/01/32 @ 100 5.00000000 | 0.016219 | ✓ | | TEXAS ST MUNI GAS ACQUISITION& TEXAS MUNICIPAL GAS ACQUISITION & SUPPLY CORP IV | 0.015716 | ✓ | | KISSIMMEE CHARTER ACADEMY 6.5% 06-15-54 | 0.015713 | | | HOUSTON TX ARPT SYS REVENUE REGD B/E AMT 5.50000000 | 0.015298 | | | PATRIOTS EN GRP 5.25% MT | 0.015212 | | | STATE OF NEW YORK PERSONAL INCOME TAX REVENUE 5.25% 03-15-47 | 0.015169 | | | BLACK CREEK FL CDD SPL ASSMNT | 0.015009 | | | AZ AZSEDU 5.5 11/01/2051 | 0.014924 | | | WA ST HLTH CAR 5.50% 9/1/2055 | 0.014828 | | | ME FIN AUT REV 5.50% 7/1/2055 | 0.014806 | | | Arizona Industrial Development Authority | 0.014727 | | | WI PUBTRN 5.75 06/30/2060 | 0.014564 | | | Florida Development Finance Corp | 0.014554 | | | MD HLTH & HGR EDU-A | 0.014497 | | | Ridge at Apopka Community Development District | 0.014464 | ✓ | | LAKEWOOD RANCH STEWARDSHIP DISTRICT SERIES 2025 ASSESSMENT SOUTHEAST 6.0% 05-01-56 | 0.014435 | | | Wyandotte County-Kansas City Unified Government, Series 2022 | 0.014432 | ✓ | | VIRGI VA 928103 5.50% 12/1/2054 | 0.014390 | | | MAIN STR NAT GA 4% 9/1/2052 | 0.014385 | ✓ | | SUFFOLK REGL OFF-TRACK BETTING SUFFOLK REGIONAL OFF-TRACK BETTING CORP | 0.014350 | ✓ | | WI PUBFIN 5.25 06/15/2055 | 0.014325 | | | IOWA ST FIN AUTH SENIOR LIVING FAC REVENUE | 0.014319 | | | NORTH CAROLINA ST MED CARE COMMISSION RETMNT FACS REVENUE | 0.014295 | | | AZ IND DEV AUTH-A | 0.014219 | | | New York Transportation Development Corp. | 0.014162 | | | Wisconsin (State of) Public Finance Authority (Campus Real Estate Holdings), Series 2025, Ref. RB | 0.014140 | | | RESTRUCTURED-SER A1 | 0.014130 | | | State of Illinois, Series 2021A | 0.014068 | ✓ | | MUNIBOND | 0.014019 | ✓ | | FL CTSGEN 5.25 12/01/2055 | 0.014009 | | | SOUTH CAROLINA ST JOBS-ECON DEV AUTH HLTH FACS REVENUE | 0.013975 | | | RESTRUCTURED-SER A-2- | 0.013920 | | | WA WASHSG 5.5 07/01/2059 | 0.013889 | | | NORTH CAROLINA ST MED CARE COM REGD B/E 4.00000000 | 0.013805 | | | St Charles County Public Water Supply District No 2 | 0.013792 | | | FRASIER MEADOWS MANOR INC OBLIGATED GROUP 4.0% 05-15-41 | 0.013722 | | ## First Trust Managed Municipal ETF — top positions | Security | Weight | Shared | |----------|--------|--------| | County of Meade, Series B-1 | 0.008106 | | | MAIN STR NAT GA 4% 9/1/2052 | 0.007372 | ✓ | | MUNIBOND | 0.005063 | | | New York City Transitional Finance Authority Future Tax Secured Revenue | 0.005046 | | | TEXAS ST MUNI GAS ACQUISITION& TEXAS MUNICIPAL GAS ACQUISITION & SUPPLY CORP IV | 0.004653 | ✓ | | S E ENERGY COOP DT | 0.004624 | | | City of Atlanta GA Airport Passenger Facility Charge | 0.004484 | | | NY DORM AUTH-E | 0.004173 | | | SOUTHEAST ENERGY AUTH VAR | 0.004136 | | | PUERTO RICO SALES TAX FING COR PUERTO RICO SALES TAX FINANCING CORP SALES TAX REV | 0.004132 | | | MUNIBOND | 0.003869 | ✓ | | INTERMOUNTAIN HEALTHCARE OBLIGATED GROUP 4.0% 01-01-40 | 0.003744 | | | San Francisco City & County Airport Comm-San Francisco International Airport | 0.003630 | | | Tarrant County Cultural Education Facilities Finance Corporation, Texas, Hospital Revenue Bonds, Cook Childrens Medical Center, Series 2025 | 0.003424 | | | E BATON ROUGE PARISH LA SWR CO EASUTL 02/45 FIXED 4 | 0.003188 | | | Public Energy Authority of Kentucky, Gas Supply Revenue Bonds, Series 2019C-1 | 0.003184 | | | NYC NY 5% 3/1/42 | 0.003167 | | | PENNSYLVANIA ST ECON DEV FING REGD B/E AMT 5.25000000 | 0.003157 | | | New York (City of), NY, Subseries 2022 B-1, GO Bonds | 0.003147 | | | Walker County Economic & Industrial Development Authority | 0.003002 | | | CALIFORNIA ST POLL CONTROL FIN REGD B/E AMT 5.00000000 | 0.003001 | | | North Texas Tollway Authority, First Tier, Series 2020A | 0.002990 | | | Isle Wight (County of), VA Economic Development Authority (Riverside Health System), Series 2023, RB | 0.002908 | | | State of Connecticut, Series 2020 A | 0.002894 | | | LOWER COLORADO RIVER TX AUTH TRANSMISSION CONTRACT REVENUE | 0.002890 | | | CHATTANOOGA TN HLTH EDUCTNL &HSG FAC BRD REVENUE | 0.002857 | | | SOUTH CAROLINA ST JOBS-ECON DEV AUTH HLTH FACS REVENUE | 0.002841 | | | NEW YORK NY | 0.002805 | | | BLACK BELT ENERGY GAS VAR | 0.002779 | | | New Hampshire Business Finance Authority | 0.002753 | | | WA ST 5% 8/1/2041 | 0.002736 | | | SOUTHEAST ENERGY-D | 0.002696 | | | IPS Multi-School Building Corp | 0.002674 | | | PORT OF SEATTLE WA REVENUE REGD B/E AMT 5.00000000 | 0.002648 | | | TX WTR DEV BRD -REV | 0.002643 | | | TX PRIVATE ACTIVITY-A | 0.002631 | | | DENVER CITY & CNTY CO ARPT REVENUE | 0.002614 | | | DELAWARE VLY REG-B | 0.002602 | | | DENVER CITY & CNTY CO ARPT REV REGD B/E AMT 5.00000000 | 0.002600 | | | Tri-County Metropolitan Transportation District of Oregon, Series 2018, RB | 0.002564 | | | MISSISSIPPI ST HOSP EQUIPMENT & FACS AUTH | 0.002506 | | | RESTRUCTURED-SER A1 | 0.002500 | | | Energy Southeast A Cooperative District, Series B-1 | 0.002458 | | | MONTGOMERY INDL 0% 10/1/2053 MT | 0.002432 | | | East Allen Multi School Building Corp | 0.002407 | | | Kentucky Municipal Energy Agency | 0.002404 | | | Round Rock Independent School District | 0.002398 | | | SOUTHEAST ENRG 5% MT | 0.002376 | | | SAN FRANCISCO CITY & COUNTY AIRPORT COMM-SAN FRANCISCO INTERNATIONAL AIRPORT 5.25% 05-01-40 | 0.002363 | | | HOUSTON TX ARPT SYS REVENUE | 0.002345 | | ## Sources - N-PORT (fund A) — accession `0000940400-26-014568` (as of 2026-02-28) - N-PORT (fund B) — accession `0000940400-26-024909` (as of 2026-04-30) --- _Informational only — not investment advice. FundWatcher presents publicly available data and makes no recommendation to buy or sell any security. Verify all figures against the source filing before relying on them._ _Data sourced from U.S. SEC EDGAR filings (Forms N-PORT, N-CEN, and prospectus Risk/Return summaries). FundWatcher is not affiliated with the SEC._ _Use of this data is subject to the FundWatcher Terms of Service. Information may be used only for personal, non-commercial research and may not be redistributed. See _