CWAIX Performance — First Trust Managed Municipal Fund, Class I
Data updated: 2026-09-24
CWAIX returned +0.45% year to date and +5.14% over one year to Jul 2026. The annualised 3-year return is +3.40%. The fund beat its Intermediate Municipal Bond category average: $100 invested three years ago grew to $111, against $109 for the category, and to $105 over one year, against $105. Volatility over the past three years was 5.03% a year. In the 12 months to Jul 2026 the fund lost a net $21.4M, and assets reached $50.82M.
CWAIX Growth of $100
What $100 invested in First Trust Managed Municipal Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the Intermediate Municipal Bond category average over the same months.
| Period | CWAIX | Category average |
|---|---|---|
| 1 year (Aug 2025 – Jul 2026) | $105 | $105 |
| 3 years (Aug 2023 – Jul 2026) | $111 | $109 |
| Since data start (Jun 2022 – Jul 2026) | $115 | $110 |
CWAIX Trailing Returns
Total returns to Jul 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +0.45% |
| 1 year | +5.14% |
| 3 years (annualised) | +3.40% |
CWAIX Annual Returns
Calendar-year total returns of First Trust Managed Municipal Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–Jul) | +0.45% |
| 2025 | +3.81% |
| 2024 | +2.42% |
| 2023 | +6.76% |
| 2022 (Jun–Dec) | +1.06% |
CWAIX Monthly Returns
Monthly total returns as reported on SEC Form N-PORT.
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | +0.9% | +1.3% | −2.2% | +1.1% | +0.4% | +0.7% | −1.8% | — | — | — | — | — |
| 2025 | +0.4% | +1.0% | −1.6% | −0.9% | −0.1% | +0.7% | −0.3% | +0.7% | +2.1% | +1.2% | +0.4% | +0.2% |
| 2024 | +0.1% | +0.4% | +0.1% | −1.0% | −0.1% | +1.5% | +0.7% | +0.7% | +1.0% | −1.3% | +1.4% | −1.1% |
| 2023 | +2.6% | −1.8% | +1.4% | +0.3% | −0.6% | +0.8% | +0.4% | −0.9% | −2.1% | −1.2% | +5.4% | +2.5% |
| 2022 | — | — | — | — | — | +0.5% | +2.5% | −1.7% | −3.2% | −0.8% | +3.8% | +0.2% |
CWAIX Risk
Risk measures from monthly returns over Aug 2023 – Jul 2026.
- 3-year volatility (annualised): 5.03%
- 3-year Sharpe ratio: -0.22 (vs 4.5% risk-free rate)
- Best month: +5.41% (Nov 2023)
- Worst month: −2.21% (Mar 2026)
CWAIX Fund Flows
Monthly money in and out of First Trust Managed Municipal Fund, from SEC Form N-PORT.
- 12-month net flow: −$21.4M
- 12-month gross sales (incl. reinvestments): $18.3M
- Sales ÷ redemptions: 0.46×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| Jul 2026 | $1.3M | $3.4M | −$2.1M |
| Jun 2026 | $788K | $1.6M | −$861K |
| May 2026 | $1.2M | $1.0M | $181K |
| Apr 2026 | $2.3M | $3.1M | −$763K |
| Mar 2026 | $1.6M | $3.5M | −$2.0M |
| Feb 2026 | $2.1M | $2.8M | −$643K |
| Jan 2026 | $2.5M | $1.8M | $766K |
| Dec 2025 | $1.9M | $3.9M | −$2.1M |
| Nov 2025 | $1.5M | $4.0M | −$2.5M |
| Oct 2025 | $889K | $6.3M | −$5.4M |
| Sep 2025 | $539K | $4.2M | −$3.6M |
| Aug 2025 | $1.7M | $4.0M | −$2.3M |
CWAIX Assets Under Management
Net assets of First Trust Managed Municipal Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-07-31 | $50.82M |
| 2026-04-30 | $54.36M |
| 2026-01-30 | $58.17M |
| 2025-10-31 | $61.68M |
| 2025-07-31 | $70.97M |
| 2025-04-30 | $69.89M |
| 2025-01-31 | $72.32M |
| 2024-10-31 | $75.32M |
| 2024-07-31 | $72.67M |
| 2024-04-30 | $72.42M |
| 2024-01-31 | $75.23M |
| 2023-10-31 | $72.23M |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.