See what your fund actually adds
First Trust Flexible Municipal High Income ETF MFLX
Historical return decomposition and an investable replication portfolio, using data through 2026-10-09.
Fund and replication metrics
| Measure | MFLX | Replication |
|---|---|---|
| Annualized growth | -1.4% | -0.4% |
| Annualized volatility | 7.2% | 5.4% |
| Sharpe ratio | -0.16 | -0.05 |
| Maximum drawdown | 23.8% | 14.3% |
| Replication fit (R²) | 0.81 · Tracking error 3.2% | |
Replication portfolio
The published portfolio below is the investable basket used to model MFLX’s historical return behavior.
| Ticker | Building block | Weight |
|---|---|---|
| MUB | FI · Municipal | 87.1% |
| VCLT | FI · Long Corp | 12.9% |