NASDAQ · ETF
Invest in FMB ETF from India
Indian and foreign residents can buy First Trust Managed Municipal ETF (FMB) units directly through Paasa.
By Paasa · Updated
FMB at a glance
- Price
- $47.86+$0.35 (0.74%)
- Expense ratio
- 0.39%
- Day range
- $47.76 – $48.08
- Assets
- $1.9B
- Domicile
- the US
- Holdings
- 1,244
- Launched
- 2014
- Dividends
- Distributing
- 1 month
- -4.36%
- 6 months
- -5.38%
- YTD
- -6.38%
- 1 year
- -5.60%
- 5 years
- -15.71%
Price change, excluding dividends.
Top 10 holdings
- 1NEW YORK CITY NY MUNI WTR FIN AUTH Variable rate, due 06/15/20411.0%
- 2MEADE CNTY KY INDL BLDG REVENUE Variable rate, due 08/01/20610.9%
- 3MAIN STREET NATURAL GAS INC GA Variable rate, due 09/01/20520.8%
- 4PEFA INC IA GAS PROJ REVENUE 5%, due 04/01/20350.5%
- 5NEW YORK CITY NY TRANSITIONAL FIN AUTH REV 4%, due 11/01/20370.5%
- 6ENERGY S E AL A COOPERATIVE DIST Variable rate, due 11/01/20530.5%
- 7TEXAS ST MUNI GAS ACQUISITION & SPLY CORP IV Variable rate, due 01/01/20540.5%
- 8ATLANTA GA ARPT PASSENGER FAC CHG REV 4%, due 07/01/20370.4%
- 9SOUTHEAST ENERGY AUTH AL COMMODITY SPLY Variable rate, due 11/01/20510.4%
- 10NEW YORK ST DORM AUTH SALES TAX 5%, due 03/15/20380.4%
FMB holds 1,244 securities in total. These 10 are 5.8% of the fund.
Where the money is invested
Countries
- Other100.0%
How to invest in FMB from India
Step 1
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.
Step 2
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.
Step 3
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.
Why invest in FMB from India
What FMB holds
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.
Hold a dollar asset
FMB is priced in US dollars, so a weaker rupee adds to what it's worth in rupees. The rupee depreciated over 85% against the dollar between 2010 and 2025.
Buy a fraction of a unit
Buy by amount, not by unit, and get the matching fraction of one FMB unit. There is no minimum trade size.
Paasa handles the paperwork
Investing abroad brings paperwork with it: remittance filings, capital gains reporting, foreign asset disclosure. Paasa prepares all of it for you. Your India-ready tax reports arrive at year end, ready to file.
Planning to hold more than $60,000 in US ETFs? Here's what US estate tax means for you.
US-domiciled ETFs held in your own name fall under US estate tax rules. If your US holdings cross $60,000, the amount above that can be taxed at up to 40% when the account passes to your family.
A UCITS ETF tracking a similar market sits outside US estate tax.
Frequently asked questions
Can I buy FMB from India?
Yes. Indian residents can buy First Trust Managed Municipal ETF (FMB) through Paasa. It is listed on NASDAQ and trades in US dollars. Your money leaves India under the RBI's Liberalised Remittance Scheme, and the units are held in your own name at Interactive Brokers.
What does FMB invest in?
First Trust Managed Municipal ETF holds 1,244 securities. Its largest holdings are NEW YORK CITY NY MUNI WTR FIN AUTH Variable rate, due 06/15/2041 (1.0%), MEADE CNTY KY INDL BLDG REVENUE Variable rate, due 08/01/2061 (0.9%) and MAIN STREET NATURAL GAS INC GA Variable rate, due 09/01/2052 (0.8%). It is a distributing fund domiciled in the US.
What is the expense ratio of FMB?
First Trust Managed Municipal ETF has an expense ratio of 0.39% a year, taken from the fund's assets rather than billed to you. The fund manages about $1.9B.
How are FMB dividends taxed in India?
First Trust Managed Municipal ETF is a distributing fund. It pays the dividends from its holdings out to you in cash. Dividends are taxed at your slab rate in India. Paasa's dividend report lists the gross dividend and any tax withheld for each payment.
What tax do I pay in India when I sell FMB?
The US does not levy capital gains tax on shares for Indian residents. Gains are taxable in India. Debt-oriented funds can be taxed differently from equity funds, so confirm your rate before selling. The gain is worked out in rupees at the USD/INR rate on the day you bought and the day you sold, so the currency move is part of the gain. Paasa's capital-gains statement gives you the figures for your return.
Can I buy a fraction of one FMB unit?
Yes. You can buy by amount rather than by unit and add to your position over time. One unit is $47.86, and there is no minimum trade size.
What happens to my FMB units if I pass away?
US-domiciled ETFs held in your own name fall under US estate tax rules. If your US holdings cross $60,000, the amount above that can be taxed at up to 40% when the account passes to your family. A UCITS ETF tracking a similar market sits outside US estate tax. Paasa's US estate tax calculator shows the exposure for a given portfolio value.