First Trust Managed Municipal ETF
First Trust Managed Municipal ETF (NASDAQ: FMB) is an exchange-traded fund listed on NASDAQ, trading at $48.25 (about ₹4,633 a unit) as of 25 Sep 2026, 9:48 AM ET. It has an expense ratio of 0.39% and holds 1,259 securities. Indian residents can buy FMB through Paasa under the RBI's Liberalised Remittance Scheme.
Quote
Today's low
$48.19
Today's high
$48.35
52 week low
$48.17
52 week high
$52.03
FMB opened at $48.27, closed previously at $48.25, and has traded between $48.17 and $52.03 over the past 52 weeks.
About
The main goal of this Fund is to provide an ongoing stream of income that is not subject to regular federal income taxes. Its secondary aim is to achieve long-term growth in the value of its investments. Under typical market conditions, the Fund works towards these objectives by allocating at least 80% of its net assets (including any borrowed capital) to municipal debt instruments that pay interest which is exempt from standard federal income taxation.
Key statistics
Expense ratio
0.39%
Assets (AUM)
$2.0B
Holdings
1,259
NAV
$48.67
Avg. volume
—
1-year price change
-5.04%
5-year price change
-15.41%
Price change excludes dividends.
Top 10 holdings
FMB holds 1,259 securities in total. These 10 are 5.4% of the fund.
Where the money is invested
Countries
How to buy FMB from India
Indian residents can buy FMB units through Paasa in three steps. Funds leave India under the RBI's Liberalised Remittance Scheme and the units are held in your own name with Interactive Brokers.
Open your Paasa account
KYC takes a few minutes: PAN, Aadhaar and address proof. Your brokerage account is opened in your own name with Interactive Brokers.
Add funds from your Indian bank account
Remit up to $250,000 a year under the RBI's Liberalised Remittance Scheme. Your bank converts the rupees to US dollars at its rate on the day you remit.
Search FMB and buy
Find the fund by its ticker, FMB, on NASDAQ, and place your order. Fractional units are available and there is no minimum trade size, so you can buy by amount.
Read the full guide: how to invest in FMB from India
Trading and taxes when buying FMB from India
Trading and limits
- Trading hours
- 9:30 am – 4:00 pm ET
- LRS limit
- $250,000Per financial year, under the RBI's Liberalised Remittance Scheme.
Tax for Indian residents
- TCS on remittance
- 20%Collected by your bank on LRS remittances above ₹10 lakh in a financial year. The TCS is adjustable against your income-tax liability.Adjusting TCS against your tax
- Capital gains in India
- Taxable in IndiaGains are taxable in India. Debt-oriented funds can be taxed differently from equity funds, so confirm your rate before selling.
- Dividends
- Slab rateIt pays the dividends from its holdings out to you in cash, and dividends are taxed at your slab rate in India.Dividend tax explained
- US estate tax
- May applyUS-situs assets such as US-listed shares can be exposed to US estate tax for non-US persons.US estate tax calculator
Custody. Units are held in your own name at Interactive Brokers LLC and are SIPC-insured up to $500,000 in total, including $250,000 for cash.
FAQs
What is the FMB price today?
First Trust Managed Municipal ETF (FMB) last traded at $48.25 on NASDAQ, as of 25 Sep 2026, 9:48 AM ET. That is ₹4,633 a unit at the 24 Sep 2026 USD/INR rate.
When does FMB trade, in Indian time?
NASDAQ trades 7:00 pm – 1:30 am IST, so the close lands after midnight. The window shifts to 8:00 pm – 2:30 am IST when the US is on standard time. Orders can only execute during that window.
How big is FMB, and what does it cost to hold?
First Trust Managed Municipal ETF manages about $2.0B. Its expense ratio is 0.39% a year, deducted inside the fund. It launched in 2014.
What are FMB's largest holdings?
The top three are MEADE CNTY KY INDL BLDG REVENUE Variable rate, due 08/01/2061 (0.8%), MAIN STREET NATURAL GAS INC GA Variable rate, due 09/01/2052 (0.8%) and NEW YORK CITY NY MUNI WTR FIN AUTH Variable rate, due 06/15/2041 (0.7%). FMB's 10 largest positions make up 5.4% of the fund.
Does FMB pay dividends?
Yes. FMB is a distributing fund and pays the dividends from its holdings out in cash. In India they are taxed at your slab rate.
How are gains on FMB taxed in India?
Gains are taxable in India. Debt-oriented funds can be taxed differently from equity funds, so confirm your rate before selling.
Can I buy fractional units of FMB?
Yes. You can buy FMB by amount rather than by whole unit, and there is no minimum trade size.
How has FMB performed?
FMB's price is down 5.0% over the past year and down 15.4% over five years. These figures are price change only and exclude dividends; past performance does not guarantee future returns.