NASDAQ · ETF
Invest in FMHI ETF from India
Indian and foreign residents can buy First Trust Municipal High ETF (FMHI) units directly through Paasa.
By Paasa · Updated
FMHI at a glance
- Price
- $44.48-$0.19 (0.43%)
- Expense ratio
- 0.49%
- Day range
- $44.34 – $44.98
- Assets
- $993.4M
- Domicile
- the US
- Holdings
- 755
- Launched
- 2017
- Dividends
- Distributing
- 1 month
- -5.98%
- 6 months
- -5.94%
- YTD
- -7.16%
- 1 year
- -6.32%
- 5 years
- -20.24%
Price change, excluding dividends.
Top 10 holdings
- 1NEW YORK CITY NY MUNI WTR FIN AUTH Variable rate, due 06/15/20410.9%
- 2LOUISVILLE & JEFFERSON CNTY KY REGL ARPT AUTH Variable rate, due 01/01/20290.9%
- 3CHICAGO IL O'HARE INTL ARPT REV 5.50%, due 01/01/20480.6%
- 4PUERTO RICO CMWLTH AQUEDUCT & SWR AUTH 5%, due 07/01/20470.6%
- 5ATLANTA GA ARPT REVENUE 5.50%, due 07/01/20510.6%
- 6PUERTO RICO SALES TAX FING CORP 4.329%, due 07/01/20400.6%
- 7MOBILE CNTY AL INDL DEV AUTH 4.75%, due 12/01/20540.5%
- 8MOBILE AL INDL DEV BRD POLL CONTROL Variable rate, due 06/01/20340.5%
- 9SAINT LOUIS CNTY MO INDL DEV AUTH 5%, due 09/01/20480.4%
- 10EFFINGHAM CNTY GA INDL DEV AUTH Variable rate, due 02/01/20380.4%
FMHI holds 755 securities in total. These 10 are 6.0% of the fund.
Where the money is invested
Countries
- Other100.0%
How to invest in FMHI 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 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.
Why invest in FMHI from India
What FMHI holds
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.
Hold a dollar asset
FMHI 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 FMHI 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 FMHI from India?
Yes. Indian residents can buy First Trust Municipal High ETF (FMHI) 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 FMHI invest in?
First Trust Municipal High ETF holds 755 securities. Its largest holdings 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%). It is a distributing fund domiciled in the US.
What is the expense ratio of FMHI?
First Trust Municipal High ETF has an expense ratio of 0.49% a year, taken from the fund's assets rather than billed to you. The fund manages about $993.4M.
How are FMHI dividends taxed in India?
First Trust Municipal High 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 FMHI?
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 FMHI unit?
Yes. You can buy by amount rather than by unit and add to your position over time. One unit is $44.48, and there is no minimum trade size.
What happens to my FMHI 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.