First Trust Flexible Municipal High Income ETF

First Trust Flexible Municipal High Income ETF is an actively managed fixed-income fund that seeks current income by investing primarily in U.S. municipal debt securities. The fund focuses on municipal bonds whose interest is generally exempt from regular federal income taxes, and it has the flexibility to invest across a broad range of maturities and credit qualities. Its portfolio can include general obligation bonds, revenue bonds, lease obligations, notes, and other municipal instruments, giving it diversified exposure to the U.S. municipal bond market. The fund also may allocate a limited portion of assets to municipal closed-end funds, adding another layer of flexibility in portfolio construction. First Trust Flexible Municipal High Income ETF is designed for investors looking for access to tax-advantaged municipal income through a single traded vehicle, and it plays a role in the fixed-income market by providing diversified exposure to local authority and government-related borrowing needs.