First Trust Flexible Municipal High Income ETF
First Trust Flexible Municipal High ETF (NASDAQ: MFLX) is an exchange-traded fund listed on NASDAQ, trading at $16.12 (about ₹1,531 a unit) as of 21 Oct 2026, 10:21 AM ET. It has an expense ratio of 0.49% and holds 80 securities. Indian residents can buy MFLX through Paasa under the RBI's Liberalised Remittance Scheme.
Quote
Today's low
$16.08
Today's high
$16.12
52 week low
$15.57
52 week high
$17.95
MFLX opened at $16.09, closed previously at $16.15, and has traded between $15.57 and $17.95 over the past 52 weeks.
About
The First Trust Flexible Municipal High Income ETF (MFLX), formerly known as the First Trust Municipal CEF Income Opportunity ETF, aims to generate current income. Under typical market conditions, the Fund endeavors to meet this goal by allocating a minimum of 80% of its net assets (plus any borrowed capital) to municipal debt securities. These investments feature interest payments that are exempt from regular federal income taxes. Municipal debt securities are commonly issued by or on behalf of U.S. states, territories, and possessions, along with the District of Columbia, and their associated political entities, agencies, and authorities. The Fund may invest in a broad spectrum of municipal instruments, including, but not limited to, municipal lease obligations (and their certificates of participation), general obligation bonds, revenue bonds, municipal notes, municipal cash equivalents, private activity bonds (including industrial development bonds), and bonds that are pre-refunded or escrowed to maturity.
Key statistics
Expense ratio
0.49%
Assets (AUM)
$20.2M
Holdings
80
NAV
$16.19
Avg. volume
6.78K
1-year price change
-6.17%
5-year price change
-21.82%
Price change excludes dividends.
Top 10 holdings
MFLX holds 80 securities in total. These 10 are 19.3% of the fund.
Where the money is invested
Countries
How to buy MFLX from India
Indian residents can buy MFLX units through Paasa in four steps. Funds leave India under the RBI's Liberalised Remittance Scheme and the units are held in your own name with Interactive Brokers. Read the full guide: how to invest in MFLX from India
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 MFLX and buy
Find the fund by its ticker, MFLX, on NASDAQ, and place your order. Fractional units are available and there is no minimum trade size, so you can buy by amount.
Track holdings and download tax reports
Follow your MFLX position in USD and INR, and use Paasa's capital-gains and dividend statements when you file your Indian return.
Trading and taxes when buying MFLX 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
FAQs
What is the MFLX price today?
First Trust Flexible Municipal High ETF (MFLX) last traded at $16.12 on NASDAQ, as of 21 Oct 2026, 10:21 AM ET. That is ₹1,531 a unit at the 20 Oct 2026 USD/INR rate.
When does MFLX 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 MFLX, and what does it cost to hold?
First Trust Flexible Municipal High ETF manages about $20.2M. Its expense ratio is 0.49% a year, deducted inside the fund. It launched in 2016.
What are MFLX's largest holdings?
The top three are MOBILE AL INDL DEV BRD REVENUE Variable rate, due 09/01/2031 (2.5%), COLUMBUS OH REGL ARPT AUTH REV 5.50%, due 01/01/2050 (2.5%) and TARRANT CNTY TX CULTURAL EDU FACS FIN CORP 5%, due 09/01/2047 (2.4%). MFLX's 10 largest positions make up 19.3% of the fund.
Does MFLX pay dividends?
Yes. MFLX 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 MFLX 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 MFLX?
Yes. You can buy MFLX by amount rather than by whole unit, and there is no minimum trade size.
How has MFLX performed?
MFLX's price is down 6.2% over the past year and down 21.8% over five years. These figures are price change only and exclude dividends; past performance does not guarantee future returns.