First Trust Short Duration Managed Municipal ETF (FSMB) Performance
FSMB total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +0.9% since Dec 31, 2025
- 1 year
- +1.6% total return
- 5 years
- +1.5% a year
- Since first price
- +2.1% a year since 2018
FSMB trailing returns vs SPY, QQQ, AGG
| Period | FSMB total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | +1.0% | +0.5% | −1.0% | −5.0% | +0.9% |
| 3 months | +0.2% | −0.6% | +3.2% | +1.9% | −0.4% |
| 6 months | +0.1% | −1.5% | +7.8% | +8.4% | −1.5% |
| YTD | +0.9% | −1.7% | +12.3% | +15.1% | −1.0% |
| 1 year | +1.6% | −1.8% | +14.4% | +15.9% | −1.1% |
| 3 years | +11.8%+3.8%/yr | +1.6% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +7.7%+1.5%/yr | −5.4% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| Since inceptionNov 27, 2018 | +17.7%+2.1%/yr | −2.0% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: FSMB vs SPY
From Nov 27, 2018: FSMB grew to $11,768, SPY to $31,916.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
FSMB returns by calendar year
6 of 7 full years positive. Best 2025 (+4.5%), worst 2022 (−3.8%). 2026 is year to date.
FSMB annual returns table
| Year | FSMB | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +0.9% | −2.4% | +12.3% | +15.1% | −1.0% |
| 2025 | +4.5% | −1.8% | +17.7% | +20.8% | +7.2% |
| 2024 | +2.4% | −0.8% | +24.9% | +25.6% | +1.3% |
| 2023 | +3.5% | −1.9% | +26.2% | +54.9% | +5.7% |
| 2022 | −3.8% | −5.9% | −18.2% | −32.6% | −13.0% |
| 2021 | +1.2% | −0.9% | +28.7% | +27.4% | −1.8% |
| 2020 | +3.5% | −6.3% | +18.3% | +48.6% | +7.5% |
| 2019 | +3.8% | −0.5% | +31.2% | +39.0% | +8.5% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
FSMB risk statistics
| Statistic | 3 years | 5 years | Since 2018 |
|---|---|---|---|
| Annualized return | +3.3% | +1.2% | +1.9% |
| Volatility (annualized) | 2.3% | 2.8% | 2.7% |
| Sharpe ratio | -0.50 | -0.88 | -0.26 |
| Sortino ratio | -0.62 | -1.03 | -0.32 |
| Best month | +2.2% | +2.2% | +2.2% |
| Worst month | −1.7% | −1.7% | −2.7% |
| Best 12 months | +6.1% | +6.1% | +6.1% |
| Worst 12 months | +0.3% | −5.6% | −5.6% |
| Positive months | 69% | 57% | 64% |
| Beta vs S&P 500 | 0.11 | 0.12 | — |
| Correlation with S&P 500 | 0.58 | 0.64 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
FSMB rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 84 | −5.6% | +2.8% | +6.1% | 83% |
| 3-year (a year) | 60 | −0.5% | +1.0% | +3.9% | 87% |
| 5-year (a year) | 36 | +1.2% | +1.5% | +1.8% | 100% |
Every holding period starting at a month-end since 2018. Returns for 3 years and longer are annualized.
FSMB performance overview
First Trust Short Duration Managed Municipal ETF (FSMB) returned +1.6% over the past year and +1.5% a year over five years, with distributions reinvested. Since its first recorded price in 2018 it has returned +2.1% a year, turning $10,000 into about $11,768. Over the same year S&P 500 (SPY) returned +14.4%.
Related: FSMB chart, FSMB dividends. See the FSMB overview for the latest quote and fund facts.
FSMB performance FAQ
What is the FSMB return over the past year?
FSMB returned +1.6% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 1.8%.
What is the average annual return of FSMB?
FSMB has returned +1.5% a year over 5 years, +2.1% a year since November 27, 2018 (total return, distributions reinvested).
How much would $10,000 invested in FSMB be worth?
$10,000 invested in FSMB at its first recorded close on November 27, 2018 would be worth about $11,768 on October 23, 2026 with distributions reinvested.
What was the worst year for FSMB?
The worst calendar year was 2022, with a total return of −3.8%. The best was 2025 at +4.5%.
How volatile is FSMB?
Over the past 3 years FSMB had an annualized volatility of 2.3% and a Sharpe ratio of -0.50 (excess return over 1–3 month T-bills per unit of risk).