MFLX

ETFActive

First Trust Flexible Municipal High Income ETF

Category: US Bond (5,386 funds)

Expense Ratio

0.66%

Annual Cost per $10K

$66.00

30-Year Fee Drag per $10K

$12,896

at 7% annual return

Fund Type

ETF

Active

Trailing 12-Month

-1.84%

Asset Allocation

US Equity

US Bond

93%

Fee Comparison

MFLX

0.66%

US Bond average

0.76%

US Bond cheapest

ABIMX

0.00%

Index benchmark

0.03%

13% cheaper than category average

Historical Returns

Monthly total returns (dividends reinvested) from SEC N-PORT filings · As of August 2025 · Updated quarterly

+9.60%3Y

Compare to

Fee Impact Calculator

Investment

Years

Annual Return

MFLX at 0.66%$316,133

At index rates (0.03%)$377,424

Zero fees (theoretical)$380,613

Total fee drag$64,480

Cost vs index fund−$61,291

Similar Funds (100)

Ranked by allocation similarity weighted by fund size · Returns (dividends reinvested) from SEC N-PORT filings · As of August 2025

Ticker	Name	ER	1yr	3yr	5yr
MFLX	First Trust Flexible Municipal High Income ETF	0.66%	-1.84%	+3.10%	+0.68%
VBTSX	VANGUARD TOTAL BOND MARKET INDEX FUND	—	—	—	—
VWITX	VANGUARD INTERMEDIATE-TERM TAX-EXEMPT FUND	0.17%	+1.41%	+3.13%	+0.87%
TLT	iShares 20+ Year Treasury Bond ETF	0.15%	-6.49%	-4.72%	-9.33%
DDTRX	DoubleLine Total Return Bond Fund	0.43%	+4.32%	+3.38%	+0.33%
IEF	iShares 7-10 Year Treasury Bond ETF	0.15%	+2.80%	+1.63%	-2.35%
VMLTX	VANGUARD LIMITED-TERM TAX-EXEMPT FUND	0.17%	+3.57%	+3.47%	+1.61%
AMUSX	U.S. Government Securities Fund	0.65%	+3.55%	+1.78%	-0.67%
JBFRX	Bond Fund	0.46%	+3.37%	+3.61%	-0.09%
BBMUX	Bridge Builder Municipal Bond Fund	0.12%	+1.67%	+3.34%	+1.19%
STRDX	Sterling Capital Total Return Bond Fund	0.35%	+3.42%	+3.38%	-0.17%
VWLTX	VANGUARD LONG-TERM TAX-EXEMPT FUND	0.17%	-0.99%	+2.81%	+0.34%
FCAVX	Franklin California Tax-Free Income Fund	0.60%	-1.83%	+2.42%	+0.09%
FLIBX	American Funds Inflation Linked Bond Fund	0.36%	+5.34%	+1.51%	+0.86%
VFIIX	VANGUARD GNMA FUND	0.21%	+3.50%	+2.73%	-0.19%
CMPIX	Core Fixed Income Fund	0.57%	+2.92%	+2.87%	-0.77%
MMHEX	NYLI MacKay High Yield Muni Bond Fund	0.55%	-2.44%	+3.14%	+1.36%
FIQZX	Fidelity Intermediate Municipal Income Fund	0.31%	+1.67%	+3.05%	+1.03%
TGLMX	TCW Securitized Bond Fund	0.59%	+3.55%	+2.60%	-1.19%
AHMFX	American High-Income Municipal Bond Fund	0.41%	+0.03%	+3.95%	+2.15%
AFFMX	American Funds Mortgage Fund	0.68%	+4.14%	+2.79%	+0.23%
MTBDX	NYLI MacKay Tax Free Bond Fund	0.43%	-0.10%	+2.90%	+0.44%
GAJPX	Goldman Sachs Dynamic Municipal Income Fund	0.38%	+0.27%	+3.29%	+1.37%
QCILFX	College Retirement Equities Fund - Inflation-Linked Bond Account	—	+6.12%	+4.49%	—
FFTQX	Franklin Federal Tax-Free Income Fund	0.49%	-1.01%	+2.75%	+0.36%
SCOAX	SIIT CORE FIXED INCOME FUND	0.37%	+3.26%	+3.37%	-0.51%
VBLTX	VANGUARD LONG-TERM BOND INDEX FUND	—	—	—	—
FHYRX	Franklin High Yield Tax-Free Income Fund	0.50%	-0.33%	+3.00%	+1.11%
JAAA	Janus Henderson AAA CLO ETF	0.21%	+5.86%	+7.03%	—
WMBRX	Allspring Municipal Bond Fund	0.74%	-0.15%	+3.74%	+2.21%
MFIAX	MFS Municipal Income Fund	0.44%	-1.11%	+2.62%	+0.52%
SUB	iShares Short-Term National Muni Bond ETF	0.07%	+3.21%	+2.88%	+1.28%
JAGBX	Select Bond Trust	0.60%	+3.22%	+3.31%	-0.40%
TRPZX	T. Rowe Price Limited-Duration Inflation Focused Bond Fund, Inc.	0.34%	+6.85%	+3.93%	+3.39%
UIITX	Victory Core Plus Intermediate Bond Fund	0.41%	+3.83%	+4.41%	+1.05%
FIXD	First Trust Smith Opportunistic Fixed Income ETF	0.65%	+2.83%	+2.67%	-1.00%
PYMAX	PIMCO High Yield Municipal Bond Fund	0.86%	-1.25%	+2.88%	+1.24%
MBFAX	Allspring Core Bond Fund	0.65%	+3.06%	+3.01%	+1.77%
LMBS	First Trust Low Duration Opportunities ETF	0.65%	+5.53%	+4.95%	+2.41%
GANPX	Goldman Sachs Short Duration Tax-Free Fund	0.67%	+3.27%	+3.34%	+1.44%
AIDZX	Diversified Municipal Portfolio	0.41%	+1.85%	+3.18%	+1.28%
DDCPX	Doubleline Shiller Enhanced CAPE	0.49%	+11.76%	+13.16%	+10.89%
VFIRX	VANGUARD SHORT-TERM TREASURY FUND	0.10%	+4.42%	+3.48%	+1.20%
MMHKX	MFS Municipal High Income Fund	0.52%	-1.18%	+2.92%	+1.14%
FHIGX	Fidelity Municipal Income Fund	0.43%	-0.19%	+2.84%	+0.60%
NVHAX	Nuveen Short Duration High Yield Municipal Bond Fund	1.06%	-1.54%	+2.73%	+2.95%
CRAIX	CCM Community Impact Bond Fund	0.42%	+3.05%	+2.57%	-0.40%
DCFZX	Destinations Core Fixed Income Fund	0.84%	+3.02%	+3.16%	-0.52%
FLTEX	Limited Term Tax Exempt Bond Fund of America	0.37%	+3.38%	+3.54%	+1.35%
RBCUX	Tax-Exempt Bond Fund	0.41%	+1.13%	+3.22%	+1.16%
PRULX	T. Rowe Price U.S. Treasury Long-Term Index Fund	0.29%	-4.85%	-3.84%	-8.69%
OWMBX	Old Westbury Municipal Bond Fund	0.57%	+1.50%	+2.34%	+0.17%
PRSMX	T. Rowe Price Summit Municipal Intermediate Fund	0.40%	+1.41%	+2.79%	+0.68%
USATX	Victory Tax Exempt Intermediate-Term Fund	0.44%	+0.64%	+2.81%	+0.87%
PMLAX	PIMCO Municipal Bond Fund	0.75%	-0.35%	+3.17%	+0.68%
LONSX	Lord Abbett National Tax-Free Income Fund	0.54%	-1.58%	+2.70%	+0.19%
SMAMX	ALPS \| Smith Total Return Bond Fund	0.89%	-21.18%	-21.22%	-24.37%
LISAX	Lord Abbett Intermediate Tax Free Fund	0.96%	+1.09%	+2.97%	+0.62%
MXBIX	Empower Bond Index Fund	0.50%	+2.60%	+2.03%	-1.51%
JIGBX	Investment Grade Bond Fund	0.38%	+2.97%	+2.92%	-0.79%
EANAX	Eaton Vance National Municipal Income Fund	0.71%	-2.17%	+2.40%	+0.09%
MIAKX	MFS Inflation-Adjusted Bond Fund	0.41%	+4.53%	+1.89%	+0.71%
FGNSX	Strategic Advisers Tax-Sensitive Short Duration Fund	0.09%	+3.45%	+3.52%	+2.02%
BMNSX	Baird Core Intermediate Municipal Bond Fund	0.55%	+1.78%	+3.22%	+1.08%
UCON	First Trust Smith Unconstrained Bond ETF	0.86%	+5.27%	+5.57%	+2.96%
HYMOX	Lord Abbett High Income Municipal Bond Fund	0.58%	-1.79%	+2.70%	+0.82%
IORUX	Invesco Rochester New York Municipals Fund	0.96%	-5.53%	+1.73%	+0.30%
ACITX	Inflation-Adjusted Bond Fund	0.54%	+4.70%	+1.94%	+1.08%
BBMHX	Bridge Builder Municipal High-Income Bond Fund	0.16%	-0.58%	—	—
CLMAX	Columbia Mortgage Opportunities Fund	0.73%	+7.27%	+3.63%	+2.31%
ATBYX	Intermediate-Term Tax-Free Bond Fund	0.71%	+1.06%	+2.81%	+0.97%
TFI	SPDR Nuveen ICE Municipal Bond ETF	0.23%	-0.71%	+1.96%	-0.70%
FTABX	Fidelity Tax-Free Bond Fund	0.25%	+0.12%	+3.04%	+0.72%
JMBS	Janus Henderson Mortgage-Backed Securities ETF	0.23%	+3.30%	+3.09%	+0.23%
SHM	SPDR Nuveen ICE Short Term Municipal Bond ETF	0.20%	+2.96%	+2.56%	+0.67%
PTYIX	T. Rowe Price Tax-Free High Yield Fund	0.55%	-1.13%	+2.81%	+1.49%
WCPNX	Core Plus Income Fund	0.45%	+3.80%	+4.45%	+1.71%
FKTJX	Franklin New York Tax-Free Income Fund	0.78%	-2.23%	+2.25%	-0.26%
CXHYX	Macquarie National High-Yield Municipal Bond Fund	0.85%	-4.53%	+1.78%	+1.14%
DHRAX	DIAMOND HILL CORE BOND FUND	0.76%	+3.74%	+3.67%	-10.71%
VKMMX	Invesco Municipal Income Fund	0.88%	-2.85%	+1.84%	-0.03%
UITB	VictoryShares Core Intermediate Bond ETF	0.38%	+3.60%	+3.80%	+0.18%
MTLBX	MFS Municipal Limited Maturity Fund	0.36%	+2.45%	+2.62%	+0.60%
QWVQX	Clearwater Tax-Exempt Bond Fund	0.69%	+0.83%	+3.70%	+1.12%
ITBTX	THE HARTFORD TOTAL RETURN BOND FUND	0.44%	+2.85%	+3.81%	-0.17%
PBIQX	Bond Market Index Fund	0.40%	+2.63%	+2.59%	-1.07%
TOTL	SPDR DoubleLine Total Return Tactical ETF	0.55%	+3.76%	+3.74%	+0.29%
FIWAX	Fidelity Limited Term Municipal Income Fund	0.25%	+3.63%	+3.35%	+1.34%
FGORX	Franklin U.S. Government Securities Fund	0.51%	+2.95%	+2.37%	-0.41%
FSAJX	Fidelity SAI Tax-Free Bond Fund	0.25%	-0.14%	+3.15%	+0.80%
FSEC	Fidelity Investment Grade Securitized ETF	0.36%	+3.64%	+3.18%	—
EXCAX	Tax-Exempt Fund of California	0.40%	-0.43%	+3.04%	+0.72%
SHMMX	Western Asset Managed Municipals Fund	0.89%	-1.52%	+2.26%	+0.57%
FTSL	First Trust Senior Loan Fund	0.86%	+7.26%	+7.90%	+5.72%
FGOVX	Fidelity Government Income Fund	0.79%	+2.32%	+2.02%	-1.38%
FCAQX	Franklin California High Yield Municipal Fund	0.52%	-1.40%	+2.28%	+0.50%
TIKPX	Nuveen Inflation Linked Bond Fund	0.42%	+5.85%	+3.37%	+2.42%
HYD	VanEck High Yield Muni ETF	0.32%	-1.69%	+1.56%	+0.02%
PPNAX	Putnam Strategic Intermediate Municipal Fund	0.90%	+2.78%	+2.87%	+1.27%
PIPJX	Inflation Protection Fund	0.85%	+4.24%	+1.72%	+0.63%
ABTYX	AB High Income Municipal Portfolio	0.95%	-1.93%	+2.34%	+0.92%

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