FMHI vs KTF
First Trust Municipal High Income ETF vs DWS Municipal Income Trust
Which is better, FMHI or KTF?
Each has led over a different period.
FMHI led over 1Y, 5Y and the full window, KTF over 3Y.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | FMHI | KTF |
|---|---|---|
| Expense Ratio | 0.49% | - |
| AUM | $1.0B | $321M |
| Dividend Yield | 4.67% | 9.36% |
| Holdings | 1,524 | 232 |
| YTD Return | -3.03%Best | -6.11% |
| 1Y Return | -2.16%Best | -5.53% |
| 3Y Return (annualized) | +4.19% | +9.12%Best |
| 5Y Return (annualized) | -0.40%Best | -1.77% |
| Volatility (annualized) | 7.3%Best | 12.4% |
| Max Drawdown | -18.8%Best | -35.4% |
| $10,000 over 5 years | $9,802Best | $9,146 |
| Fund Family | First Trust Portfolios (US) | DWS |
| Category | Tax Preferred | Tax Preferred |
| Style | Municipal Bond | Municipal Bond |
| Inception | Nov 2, 2017 | Oct 20, 1988 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Nov 3, 2017 to Oct 14, 2026 (8.9 years).
FMHI vs KTF growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 8.9 years both funds cover.
FMHI vs KTF Performance
First Trust Municipal High Income ETF (FMHI) is an ETF from First Trust Portfolios (US) and DWS Municipal Income Trust (KTF) is an ETF from DWS. Over the past year FMHI returned -2.16% while KTF returned -5.53%. Year to date, FMHI is down 3.03% versus a loss of 6.11% for KTF.
Over three years, FMHI compounded at +4.19% per year against +9.12% for KTF; over five years the annualized figures are -0.40% and -1.77% respectively. Across the full 9-year window we track, FMHI has the edge at +1.18% annualized vs -0.69%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
KTF has been the more volatile fund, with annualized monthly volatility of 12.4% compared with 7.3% for FMHI. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -18.8% for FMHI and -35.4% for KTF. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.84. They usually move together, but the gap leaves some room for diversification.
Holdings Overlap
We hold position weights for 2 holdings in FMHI and 105 in KTF, totalling 0.2% and 40.7% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
The two holdings books were reported 63 days apart, FMHI as of Oct 2, 2026 and KTF as of Jul 31, 2026, so some of the difference between them is the time between the two reports rather than the funds.
0 positions in common, counted across the 2 positions we hold weights for in FMHI and 105 in KTF, against full books of 1,524 and 232.
You are not choosing between two funds in isolation.
Whichever of FMHI and KTF you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which performed better, FMHI or KTF?
Over the past year FMHI returned -2.16% vs -5.53% for KTF, so FMHI leads on 1-year performance. Over the longest common window we track (9 years), FMHI annualized +1.18% vs -0.69% for KTF. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, FMHI or KTF?
KTF has been the more volatile fund at 12.4% annualized versus 7.3% for FMHI. Worst drawdown: FMHI -18.8% vs KTF -35.4%.
Should I hold both FMHI and KTF?
FMHI and KTF have a monthly-return correlation of 0.84, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, FMHI or KTF?
FMHI yields 4.67% while KTF yields 9.36%, so KTF currently pays the higher dividend yield.
Is KTF better than FMHI?
FMHI led over 1Y, 5Y and the full window, KTF over 3Y. Which one suits a particular account depends on what it is for. This is information, not a recommendation.