First Trust Municipal High Income ETF
First Trust Municipal High ETF (NASDAQ: FMHI) is an exchange-traded fund listed on NASDAQ, trading at $44.48 (about ₹4,273 a unit) as of 29 Sep 2026, 4:00 PM ET. It has an expense ratio of 0.49% and holds 755 securities. Indian residents can buy FMHI through Paasa under the RBI's Liberalised Remittance Scheme.
Quote
Today's low
$44.34
Today's high
$44.98
52 week low
$44.34
52 week high
$48.73
FMHI opened at $44.61, closed previously at $44.67, and has traded between $44.34 and $48.73 over the past 52 weeks.
About
The First Trust Municipal High Income ETF operates as an actively managed exchange-traded fund. Its primary goal is to generate income that is exempt from regular federal income taxes, with a secondary focus on achieving long-term capital appreciation. Typically, to achieve these aims, the Fund commits a minimum of 80% of its net assets (including any borrowed capital) to municipal debt securities. These are commonly referred to as "Municipal Securities" and are characterized by interest payments that are free from federal income tax.
Key statistics
Expense ratio
0.49%
Assets (AUM)
$993.4M
Holdings
755
NAV
$45.15
Avg. volume
—
1-year price change
-6.32%
5-year price change
-20.24%
Price change excludes dividends.
Top 10 holdings
FMHI holds 755 securities in total. These 10 are 6.0% of the fund.
Where the money is invested
Countries
How to buy FMHI from India
Indian residents can buy FMHI 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 FMHI and buy
Find the fund by its ticker, FMHI, 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 FMHI from India
Trading and taxes when buying FMHI 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 FMHI price today?
First Trust Municipal High ETF (FMHI) last traded at $44.48 on NASDAQ, as of 29 Sep 2026, 4:00 PM ET. That is ₹4,273 a unit at the 29 Sep 2026 USD/INR rate.
When does FMHI 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 FMHI, and what does it cost to hold?
First Trust Municipal High ETF manages about $993.4M. Its expense ratio is 0.49% a year, deducted inside the fund. It launched in 2017.
What are FMHI's largest holdings?
The top three are NEW YORK CITY NY MUNI WTR FIN AUTH Variable rate, due 06/15/2041 (0.9%), LOUISVILLE & JEFFERSON CNTY KY REGL ARPT AUTH Variable rate, due 01/01/2029 (0.9%) and CHICAGO IL O'HARE INTL ARPT REV 5.50%, due 01/01/2048 (0.6%). FMHI's 10 largest positions make up 6.0% of the fund.
Does FMHI pay dividends?
Yes. FMHI 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 FMHI 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 FMHI?
Yes. You can buy FMHI by amount rather than by whole unit, and there is no minimum trade size.
How has FMHI performed?
FMHI's price is down 6.3% over the past year and down 20.2% over five years. These figures are price change only and exclude dividends; past performance does not guarantee future returns.