FMHI Fees and Costs — First Trust Municipal High Income ETF
Data updated: 2026-10-13
The net expense ratio is 0.70%. There are no sales loads or redemption fees. Portfolio turnover was 38%.
FMHI Fees and Expenses
Annual operating expenses and sales charges of FMHI. Prospectus, as of July 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.70% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.70% |
| Fee waiver | — |
| Net expense ratio | 0.70% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | — |
| Redemption fee | — |
FMHI Costs Over Time
On $10,000 invested in FMHI, assuming 5% a year before costs, total costs come to $440 over 5 years, cutting the return by 0.73% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 0.70%) | $74 | $230 | $400 |
| Lost growth on money paid in costs | $0 | $11 | $40 |
| Total costs | $74 | $241 | $440 |
| Value after costs | $10,426 | $11,335 | $12,322 |
| Impact on return, per year | 0.73% | 0.73% | 0.73% |
FMHI Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending July 31, 2026.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $514.5M
- Portfolio turnover (prospectus): 38%
FMHI Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| WELLS FARGO SECURITIES, LLC | $84.6M | 21.38% |
| FMSBONDS, INC. | $66.7M | 16.86% |
| D.A. DAVIDSON & CO. | $56.8M | 14.35% |
| B. C. ZIEGLER AND COMPANY | $37.1M | 9.37% |
| PIPER SANDLER & CO. | $34.1M | 8.61% |
| J.P. MORGAN SECURITIES LLC | $33.7M | 8.51% |
| MORGAN STANLEY & CO. LLC | $31.7M | 8.01% |
| STIFEL, NICOLAUS & COMPANY, INC. | $19.0M | 4.79% |
| HERBERT J SIMS & CO., INC. | $17.5M | 4.44% |
| GOLDMAN SACHS & CO. LLC | $14.5M | 3.68% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.