NASDAQ · ETF
Invest in MFLX ETF from India
Indian and foreign residents can buy First Trust Flexible Municipal High ETF (MFLX) units directly through Paasa.
By Paasa · Updated
MFLX at a glance
- Price
- $16.12-$0.03 (0.18%)
- Expense ratio
- 0.49%
- Day range
- $16.08 – $16.12
- Assets
- $20.2M
- Domicile
- the US
- Holdings
- 80
- Launched
- 2016
- Dividends
- Distributing
- 1 month
- -1.16%
- 6 months
- -6.22%
- YTD
- -5.18%
- 1 year
- -6.17%
- 5 years
- -21.82%
Price change, excluding dividends.
Top 10 holdings
- 1MOBILE AL INDL DEV BRD REVENUE Variable rate, due 09/01/20312.5%
- 2COLUMBUS OH REGL ARPT AUTH REV 5.50%, due 01/01/20502.5%
- 3TARRANT CNTY TX CULTURAL EDU FACS FIN CORP 5%, due 09/01/20472.4%
- 4JEFFERSON CNTY AL SWR REVENUE 5.25%, due 10/01/20422.3%
- 5NEW YORK CITY NY MUNI WTR FIN AUTH Variable rate, due 06/15/20411.8%
- 6MET GOVT NASHVILLE & DAVIDSON CNTY TN 6%, due 12/01/20511.6%
- 7CHARLESTON CNTY SC ARPT DIST 5.25%, due 07/01/20421.5%
- 8INDIANAPOLIS IN LOCAL PUBLIC IMPT BOND BANK 6%, due 03/01/20531.5%
- 9COLORADO ST HLTH FACS AUTH REV 5%, due 05/15/20451.5%
- 10MAINE ST FIN AUTH SOL WST DISP N/C, 5%, due 08/01/20351.5%
MFLX holds 80 securities in total. These 10 are 19.3% of the fund.
Where the money is invested
Countries
- United States98.2%
- Puerto Rico2.3%
How to invest in MFLX 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 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.
Why invest in MFLX from India
What MFLX holds
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.
Hold a dollar asset
MFLX 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 MFLX 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 MFLX from India?
Yes. Indian residents can buy First Trust Flexible Municipal High ETF (MFLX) 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 MFLX invest in?
First Trust Flexible Municipal High ETF holds 80 securities. Its largest holdings 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%). It is a distributing fund domiciled in the US.
What is the expense ratio of MFLX?
First Trust Flexible 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 $20.2M.
How are MFLX dividends taxed in India?
First Trust Flexible 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 MFLX?
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 MFLX unit?
Yes. You can buy by amount rather than by unit and add to your position over time. One unit is $16.12, and there is no minimum trade size.
What happens to my MFLX 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.