First Trust New York Municipal High Income ETF
First Trust New York Municipal High ETF (AMEX: FMNY) is an exchange-traded fund listed on NYSE Arca, trading at $24.71 (about ₹2,374 a unit) as of 29 Sep 2026, 3:59 PM ET. It has an expense ratio of 0.49% and holds 108 securities. Indian residents can buy FMNY through Paasa under the RBI's Liberalised Remittance Scheme.
Quote
Today's low
$24.61
Today's high
$24.78
52 week low
$24.64
52 week high
$27.22
FMNY opened at $24.73, closed previously at $24.82, and has traded between $24.64 and $27.22 over the past 52 weeks.
About
The First Trust New York Municipal High Income ETF (the Fund) primarily aims to deliver current income that is exempt from both federal and New York state and city income taxes. Its secondary objective is to achieve long-term capital growth. To accomplish these goals, the Fund typically invests a minimum of 80% of its net assets, including any funds obtained through borrowing, in municipal debt securities. These specific securities are chosen for their ability to generate interest payments that are free from regular federal, New York State, and New York City income taxation.
Key statistics
Expense ratio
0.49%
Assets (AUM)
$36.2M
Holdings
108
NAV
$24.96
Avg. volume
—
1-year price change
-6.61%
5-year price change
-17.52%
Price change excludes dividends.
Top 10 holdings
FMNY holds 108 securities in total. These 10 are 20.5% of the fund.
Where the money is invested
Countries
How to buy FMNY from India
Indian residents can buy FMNY 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 FMNY and buy
Find the fund by its ticker, FMNY, on NYSE Arca, 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 FMNY from India
Trading and taxes when buying FMNY 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 FMNY price today?
First Trust New York Municipal High ETF (FMNY) last traded at $24.71 on NYSE Arca, as of 29 Sep 2026, 3:59 PM ET. That is ₹2,374 a unit at the 29 Sep 2026 USD/INR rate.
When does FMNY trade, in Indian time?
NYSE Arca 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 FMNY, and what does it cost to hold?
First Trust New York Municipal High ETF manages about $36.2M. Its expense ratio is 0.49% a year, deducted inside the fund. It launched in 2021.
What are FMNY's largest holdings?
The top three are RENSSELAER CO NY CAPITAL RESOURCE CORP 5.25%, due 04/01/2045 (2.9%), NASSAU CNTY NY INDL DEV AGY Variable rate, due 01/01/2034 (2.3%) and NEW YORK ST CONVENTION CENTER DEV CORP 5%, due 11/15/2042 (2.2%). FMNY's 10 largest positions make up 20.5% of the fund.
Does FMNY pay dividends?
Yes. FMNY 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 FMNY 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 FMNY?
Yes. You can buy FMNY by amount rather than by whole unit, and there is no minimum trade size.
How has FMNY performed?
FMNY's price is down 6.6% over the past year and down 17.5% over five years. These figures are price change only and exclude dividends; past performance does not guarantee future returns.