FMN ETF

FMN ETF
$10.85
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Leveraged fund≈2xWeights reflect notional exposure via swaps/derivatives and do not sum to 100%.
Net exposure
156.1%
Gross exposure
156.1%
Long
156.1%
Cash & collateral
0.0%
As of May 31, 2026
Showing top 50 of 140 holdings · as of May 31, 2026
FMN holdings, by weight
#TickerNameWeightCumulativeMkt valueSectorIndustry
1DebtPuerto Rico Sales Tax Financing Corp SaFinancials · Diversified Financial Services
3.04%
3.0%$2.96MFinancialsDiversified Financial Services
2DebtIndianapolis Local Public Improvement Bond Bank, Indiana, Revenue Bonds, Convention Center Hotel Senior Series 2023E
2.73%
5.8%$2.66M--
Sector and industry · Pro
3Lower Al Gas Dist Gas Proj Revenue
2.67%
8.4%$2.60M
4DebtDenver City & County School District No 1
2.33%
10.8%$2.27M
5Oregon St Regd B/E 5.25000000 05/01/2045
2.26%
13.0%$2.20M
6Illinois St 2045-10-01
2.18%
15.2%$2.12M
7Fort Bend Independent School District
2.17%
17.4%$2.11M
8Clifton Higher Education Finance Corp
2.16%
19.5%$2.11M
9Illinois St-C
2.15%
21.7%$2.10M
10Miami-Dade Cnty Fla Aviation R 5% Oct 01, 2050
2.14%
23.8%$2.08M
11County Of Jefferson Al Sewer Revenue 5.25 10-01-2049
2.13%
26.0%$2.08M
12Delaware St Go Ref Bds 2019A 28/Aug/2019 5 2026-10-01
2.12%
28.1%$2.07M
13New York St Dorm Auth Sales Ta Nyshgr 03/49 Fixed 5
2.12%
30.2%$2.07M
14New Jersey Transportation Trust Fund Authority
2.11%
32.3%$2.05M
15State Of Oregon Housing & Community Services Department
2.10%
34.4%$2.04M
16Chesapeake Bay Va Bridge & Tunnel Dist 5%, Due 07/01/2046
2.09%
36.5%$2.04M
17County Of Clark Nv
2.07%
38.6%$2.02M
18Wyandotte Cnty/kansas City Ks Unif Govt Utility Sys Revenue 09/01/2044
2.05%
40.6%$2.00M
19Idaho Housing & Finance Association, Idaho, Sales Tax Revenue Bonds, Transportation Expansion & Congestion Mitigation Fund, Series 2025A
1.97%
42.6%$1.92M
20New York St Twy Auth St Pers Income Tax 3/15/2051
1.89%
44.5%$1.84M
21Phoenix Az Indl Dev Auth Edu Revenue
1.89%
46.4%$1.84M
22St Lukes Univ Health Northampton Cnty Pa 16a Sf 4.0% 08-15-40
1.88%
48.3%$1.83M
23M-s-r Ca Energy Auth Gas Revenue
1.85%
50.1%$1.81M
24Colorado High Performance Transportation Enterprise
1.83%
51.9%$1.78M
25Texas St Muni Gas Acquisition & Sply Corp Iv Variable Rate, Due 01/01/2054
1.80%
53.7%$1.75M
26Public Auth For Colorado St Energy Natural Gas Purchase Reve
1.73%
55.5%$1.69M
27DebtBuild Nyc Resource Corp Ny Revenue
1.71%
57.2%$1.66M
28Ohio Water Development Authority, Revenue Bonds, Drinking Water Assistance Fund, Series 2025A
1.70%
58.9%$1.66M
29Nevada St Ltd Tax Go Cap Impt Bds 2023A
1.67%
60.5%$1.63M
30DebtMetropolitan Pier & Exposition Authority
1.64%
62.2%$1.60M
31New Jersey Transportation Trust Fund Authority, Transportation Program Bonds, Series 2023Bb
1.62%
63.8%$1.57M
32New York City Water & Sewer System 5.25% 06-15-54
1.62%
65.4%$1.57M
33Alabama (State Of) Corrections Institution Finance Authority
1.59%
67.0%$1.55M
34DebtTexas Transportation Commission State Highway 249 System
1.59%
68.6%$1.55M
35DebtLouisiana Stadium & Exposition District
1.58%
70.2%$1.54M
36DebtMichigan Fin Au
1.58%
71.8%$1.54M
37DebtMet Transprtn A
1.57%
73.3%$1.53M
38San Francisco Calif City Cnty Sfoapt 05/50 Fixed 5
1.57%
74.9%$1.53M
39DebtHarris County Industrial Development Corp
1.55%
76.4%$1.51M
40Savannah-Georgia Convention Center Authority, Convention Center Hotel First Tier Revenue Bonds, Series 2025A
1.44%
77.9%$1.40M
41Pennsylvania St Turnpike Commission Turnpike Revenue
1.43%
79.3%$1.40M
42Miami-dade (county Of), Fl, Series 2020 B, Rb
1.39%
80.7%$1.36M
43Mclaren Health Care Corp Obligated Group 4.0% 02-15-44
1.21%
81.9%$1.18M
44Iowa St Fin Auth Midwstrn Disa Iowa Finance Authority
1.18%
83.1%$1.15M
45Iowa Finance Authority, Iowa, Midwestern Disaster Area Revenue Bonds, Iowa Fertilizer Company Projec 12/01/2050
1.16%
84.3%$1.13M
46University Calif Revs 5% May 15, 2053
1.16%
85.4%$1.12M
47DebtGuam Government Waterworks Authority
1.13%
86.5%$1.10M
48DebtOhio Higher Educational Facility Commission Revenue (cleveland Clinic Health System Obligated Group) Vrdo
1.13%
87.7%$1.10M
49Florida Loc Govt Fin Commissio Flsfac 11/45 Fixed Oid 6.625
1.11%
88.8%$1.08M
50Wayne County Airport Authority, Michigan, Revenue Bonds, Detroit Metropolitan Wayne County Airport, Series 2025A
1.11%
89.9%$1.08M
More holdings · Pro
Not reported for this fund: shares, share changes.
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FMN ETF All Holdings

FMN holdings total 142 positions. The top 10 holdings account for 23.8% of the fund, led by Puerto Rico Sales Tax Financing Corp Sa 5.000 07/01/2058 at 3.0%, Indianapolis Local Public Improvement Bond Bank, Indiana, Revenue Bonds, Convention Center Hotel Senior Series 2023E at 2.7%, Lower Al Gas Dist Gas Proj Revenue at 2.7%.

FMN portfolio concentration is well-diversified, with the top 10 representing 23.8% of total assets. The largest sector exposure is Financials at 58.6%.

FMN sectors provide a detailed breakdown. FMN overlap shows how holdings compare to other funds in your portfolio.

FMN ETF Holdings

140 of 142 holdings

  • 1

    Puerto Rico Sales Tax Financing Corp Sa 5.000 07/01/2058

    3.04%
  • 2

    Indianapolis Local Public Improvement Bond Bank, Indiana, Revenue Bonds, Convention Center Hotel Senior Series 2023E

    Other
    2.73%
  • 3

    Lower Al Gas Dist Gas Proj Revenue

    2.67%
  • 4

    Denver City & County School District No 1 5.50% 12/01/2044

    Other
    2.33%
  • 5

    Oregon St Regd B/E 5.25000000 05/01/2045

    Other
    2.26%
  • 6

    Illinois St 2045-10-01

    2.18%
  • 7

    Fort Bend Independent School District

    Other
    2.17%
  • 8

    Clifton Higher Education Finance Corp

    Other
    2.16%
  • 9

    Illinois St-C

    2.15%
  • 10

    Miami-Dade Cnty Fla Aviation R 5% Oct 01, 2050

    2.14%
  • 11

    County Of Jefferson Al Sewer Revenue 5.25 10-01-2049

    2.13%
  • 12

    Delaware St Go Ref Bds 2019A 28/Aug/2019 5 2026-10-01

    Other
    2.12%
  • 13

    New York St Dorm Auth Sales Ta Nyshgr 03/49 Fixed 5

    2.12%
  • 14

    New Jersey Transportation Trust Fund Authority

    Other
    2.11%
  • 15

    State Of Oregon Housing & Community Services Department

    Other
    2.10%
  • 16

    Chesapeake Bay Va Bridge & Tunnel Dist 5%, Due 07/01/2046

    2.09%
  • 17

    County Of Clark Nv

    Other
    2.07%
  • 18

    Wyandotte Cnty/kansas City Ks Unif Govt Utility Sys Revenue 09/01/2044

    2.05%
  • 19

    Idaho Housing & Finance Association, Idaho, Sales Tax Revenue Bonds, Transportation Expansion & Congestion Mitigation Fund, Series 2025A

    1.97%
  • 20

    New York St Twy Auth St Pers Income Tax 3/15/2051

    1.89%
  • 21

    Phoenix Az Indl Dev Auth Edu Revenue

    Other
    1.89%
  • 22

    St Lukes Univ Health Northampton Cnty Pa 16a Sf 4.0% 08-15-40

    1.88%
  • 23

    M-s-r Ca Energy Auth Gas Revenue

    Other
    1.85%
  • 24

    Colorado High Performance Transportation Enterprise

    1.83%
  • 25

    Texas St Muni Gas Acquisition & Sply Corp Iv Variable Rate, Due 01/01/2054

    1.80%
  • 26

    Public Auth For Colorado St Energy Natural Gas Purchase Reve

    Other
    1.73%
  • 27

    Build Nyc Resource Corp Ny Revenue 5.25% 07/01/2057

    Other
    1.71%
  • 28

    Ohio Water Development Authority, Revenue Bonds, Drinking Water Assistance Fund, Series 2025A

    Other
    1.70%
  • 29

    Nevada St Ltd Tax Go Cap Impt Bds 2023A

    Other
    1.67%
  • 30

    Metropolitan Pier & Exposition Authority 5.0% 06/15/2053

    1.64%
  • 31

    New Jersey Transportation Trust Fund Authority, Transportation Program Bonds, Series 2023Bb

    1.62%
  • 32

    New York City Water & Sewer System 5.25% 06-15-54

    1.62%
  • 33

    Alabama (State Of) Corrections Institution Finance Authority

    1.59%
  • 34

    Texas Transportation Commission State Highway 249 System 5 08/01/2057

    1.59%
  • 35

    Louisiana Stadium & Exposition District 5 07/01/2048

    1.58%
  • 36

    Michigan Fin Au 4% 12/1/49

    1.58%
  • 37

    Met Transprtn A 5.25% 11/15/55

    1.57%
  • 38

    San Francisco Calif City Cnty Sfoapt 05/50 Fixed 5

    1.57%
  • 39

    Harris County Industrial Development Corp 4.05 11/01/2050

    1.55%
  • 40

    Savannah-Georgia Convention Center Authority, Convention Center Hotel First Tier Revenue Bonds, Series 2025A

    Other
    1.44%
  • 41

    Pennsylvania St Turnpike Commission Turnpike Revenue

    1.43%
  • 42

    Miami-dade (county Of), Fl, Series 2020 B, Rb

    1.39%
  • 43

    Mclaren Health Care Corp Obligated Group 4.0% 02-15-44

    1.21%
  • 44

    Iowa St Fin Auth Midwstrn Disa Iowa Finance Authority

    1.18%
  • 45

    Iowa Finance Authority, Iowa, Midwestern Disaster Area Revenue Bonds, Iowa Fertilizer Company Projec 12/01/2050

    Other
    1.16%
  • 46

    University Calif Revs 5% May 15, 2053

    1.16%
  • 47

    Guam Government Waterworks Authority 5.25% 07/01/2039

    Other
    1.13%
  • 48

    Ohio Higher Educational Facility Commission Revenue (cleveland Clinic Health System Obligated Group) Vrdo 0% 01/01/2039

    Other
    1.13%
  • 49

    Florida Loc Govt Fin Commissio Flsfac 11/45 Fixed Oid 6.625

    Other
    1.11%
  • 50

    Wayne County Airport Authority, Michigan, Revenue Bonds, Detroit Metropolitan Wayne County Airport, Series 2025A

    1.11%
  • 51

    Eagle Mtn & Saginaw Tex Indpt 5.25% Aug 15, 2050

    TX EAMSCD 5.25 08/15Consumer Discretionary
    1.10%
  • 52

    Commonwealth Of Massachusetts

    Other
    1.10%
  • 53

    City Of Phoenix Civic Improvement Corp 5.25 07-01-2047

    1.10%
  • 54

    Sales Tax Securitization Corp,4,2042-01-01

    1.10%
  • 55

    City Of Salt Lake City Ut Airport Revenue

    Other
    1.10%
  • 56

    Main Street Natural Gas Inc Ga Maiutl 09/53 Adjustable Var

    1.09%
  • 57

    San Antonio Tex Electric & Gas 5.25 2049-02-01

    1.09%
  • 58

    South Carolina 5.5% 11/54

    1.09%
  • 59

    Hawaii St Arpts Sys Rev 5.0% 01-Jul-2049

    1.08%
  • 60

    New Jersey Economic Development Authority 5.25% 11/01/2047

    1.08%
  • 61

    Indiana Finance Authority, Wastewater Utility Revenue Bonds, Cwa Authority Project, First Lien Green Series 2022B 5.25 10-01-2052

    1.07%
  • 62

    Public Fin Auth Wi Revenue 2042-12-01

    Other
    1.07%
  • 63

    Washington St Go 5% 02/49

    1.07%
  • 64

    Florida Dev Fin Corp Hlthcaref Regd B/E 5.25000000

    1.06%
  • 65

    Colorado Health Facilities Authority 5% 2054-05-15

    Other
    1.05%
  • 66

    Metropolitan Nashville Airport Authority/The 5.0% 07/01/2052

    1.05%
  • 67

    Chicago Ill Wtr Rev 5%

    Other
    1.04%
  • 68

    Illinois State, General Obligation Bonds, December Series 2023C

    Other
    1.04%
  • 69

    Allegheny Cnty Pa Hosp Dev Auth

    1.03%
  • 70

    California School Finance Authority, Series 2015, Rb 5 2035-07-01

    Other
    1.03%
  • 71

    Chamed 5.000 08/01/49

    Other
    1.03%
  • 72

    Lee County Industrail Development 5.25 10/01/2044

    Other
    1.03%
  • 73

    Municipal Electric Authority Of Georgia 0.055 07/01/2060

    Other
    1.03%
  • 74

    Muni Elec Auth Of Ga Regd B/E 5.00000000

    Other
    1.03%
  • 75

    New York St Liberty Dev Corp Liberty Revenue 4.329 11/15/2044

    1.03%
  • 76

    New York City Housing Development Corporation, New York, Multifamily Housing Revenue Bonds, Sustainable Development Series 2024B-1-A 4.75% 2054-11-01

    Other
    1.03%
  • 77

    Texas Wtr Dev Brd Rev 4.75% Oct 15, 2055

    Other
    1.03%
  • 78

    Kentucky Economic Development Finance Authority

    Other
    1.02%
  • 79

    Washington State Housing Finance Commission 5 2041/01/01

    Other
    1.02%
  • 80

    New York Transportation Development Corp 4.0% 12/01/2040

    1.00%
  • 81

    Puerto Rico Sales Tax Financing Corp Sa 4.750 07/01/2053

    0.99%
  • 82

    Msr Energy

    0.98%
  • 83

    Conroe Tex Indpt Sch Di 4.0 15Feb50

    0.95%
  • 84

    New York City Transitional Finance Authority Future Tax Secured Revenue 4 2051-02-01

    0.94%
  • 85

    University Of Utah (The) (Green Bonds)

    0.92%
  • 86

    Texas St Muni Gas Acquisition Txsutl 04/36 Fixed 5 5

    Other
    0.90%
  • 87

    Illinois Finance Authority

    Other
    0.88%
  • 88

    Colorado St Hlth Facs Auth Rev Cosmed 11/47 Fixed 5.5

    0.87%
  • 89

    New Jersey St E 5.25% 11/01/41

    Other
    0.84%
  • 90

    Virginia Beach Development Authority, Virginia, Residential Care Facility Revenue Bonds, Westminster Canterbury On Chesapeake Bay, Series 2023A

    0.84%
  • 91

    Municipal Electric Authority Of Georgia, Series A 5.5

    Other
    0.82%
  • 92

    National Fin Auth Nh Federal L Regd Oid B/E 5.87500000

    Other
    0.82%
  • 93

    Stamford Ct Hsg Auth Stmhsg 10/45 Fixed 6.375

    0.82%
  • 94

    Illinois State, General Obligation Bonds, May Series 2020

    0.81%
  • 95

    Land Clearance For Redevelopment Authority Of Kansas City, Missouri, Project Revenue Bonds, Convention Center Hotel Project - Tif Financing, Series 20 5 02/01/2040

    Other
    0.78%
  • 96

    Wisconsin Health & 4.00%

    0.71%
  • 97

    Industrial Development Authority Of The County Of Pima/The .Muni Bond 2042-11-15

    0.69%
  • 98

    Rivers Edge Ii Community Development District

    Other
    0.69%
  • 99

    Upper St Clair Township School District

    Other
    0.69%
  • 100

    Whiting In Envrnmntl Facs Reve Whgfac 06/44 Adjustable Var

    0.67%
  • 101

    Public Finance Authority

    Other
    0.65%
  • 102

    City Of Atlantic Beach Fl

    Other
    0.64%
  • 103

    Houston, Texas, General Obligation Bonds, Refunding Series 2024A 4.125 03/01/2051

    0.63%
  • 104

    Maricopa Cnty Az Indl Dev Auth Regd B/E 5.00000000

    Other
    0.60%
  • 105

    New Jersey Transportation Trust Fund Authority 0.055 12/15/2032

    0.60%
  • 106

    Downtown Revitalization Public Dtrfac 06/41 Fixed 5.25

    0.58%
  • 107

    Delaware County Pa Industrial Development Authority Airport Facilities Revenue (united Parcel Service Inc.) Vrdo 09/01/2045

    Other
    0.56%
  • 108

    Land Clearance For Redevelopment Authority Of Kansas City, Missouri, Project Revenue Bonds, Convention Center Hotel Project - Tif Financing, Series 20

    Other
    0.56%
  • 109

    Lakewood Ranch Stewardship Dist Fla Spl Assmt Rev 6.125 05-01-2043

    0.56%
  • 110

    Maryland St Econ Dev Corp Poll Maryland Economic Development Corp 07/01/2048

    0.55%
  • 111

    Massachusetts School Building Authority 5.25 02/15/2050

    Other
    0.55%
  • 112

    Atlanta Ga Dev Auth Atlanta Development Authority/The 5 2034-04-01

    0.53%
  • 113

    City Of Austin Tx Water & Wastewater System Revenue 5 11/15/2052

    0.53%
  • 114

    New York N Y 5% Aug 01, 2054

    0.53%
  • 115

    Suffolk Regl Corp 5% 12/01/2034

    Other
    0.53%
  • 116

    New Jersey Educational Facilities Authority, Revenue Bonds, Higher Education Capital Improvement Fund Series 2023A

    0.52%
  • 117

    Washington State Housing Finance Commis 5 2031-01-01

    0.52%
  • 118

    Colorado Educational & Cultural Facilities Authority

    CO COSEDU 5 12/15/20Consumer Discretionary
    0.51%
  • 119

    District Of Columbia (Friendship Public Charter School, Inc.), Series 2016, Ref. Rb

    Other
    0.51%
  • 120

    Fulton County Residential Care Facilities For The Elderly Authority

    Other
    0.51%
  • 121

    Pennsylvania Economic Dev Fing Auth Upmc Rev 405/15/2053

    Other
    0.51%
  • 122

    New Hampshire Business Finance Authority Muni Orig Issue Disc

    0.50%
  • 123

    Chicago Il Brd 5.75% 04/01/48

    0.46%
  • 124

    Michigan Finance Authority Fx.Rt. Muni Bond

    0.46%
  • 125

    James City Cnty Va Econ Dev Au Jamdev 12/58 Fixed 6.875

    0.45%
  • 126

    Muskingum Cnty Oh Hosp Facs 5 2027-02-15

    Other
    0.40%
  • 127

    Westminster-A 6 7/34

    Other
    0.38%
  • 128

    Pennsylvania Turnpike Commission 12/01/2052

    0.37%
  • 129

    New Hampshire (State Of) Business Finance Authority (The Attwater), Series 2024, Rb 04/01/2032

    Other
    0.36%
  • 130

    Arizona Board Of Regents

    Other
    0.34%
  • 131

    BALTIMORE MD SPL OBLIG BALGEN 09/38 FIXED 5

    0.33%
  • 132

    City Of Houston Tx Hotel Occupancy Tax & Special Revenue 5 2045-09-01

    Other
    0.33%
  • 133

    Cwlth Of Massachusett 01/11/2048

    0.32%
  • 134

    Midtown Miami Community Development District 5 05/01/2029

    Other
    0.32%
  • 135

    Suffolk Regional Off-Track Betting Co 5.75% 12-01-44

    NY SOBGEN 5.75 12/01Consumer Discretionary
    0.26%
  • 136

    Du Page Cnty Il Spl Svc Area 31 Spl Tax

    Other
    0.24%
  • 137

    Illinois Go

    0.24%
  • 138

    Chicago, Illinois, Water Revenue Bonds, Second Lien Series 2023A

    0.21%
  • 139

    Cumberland County, Pa Municipal Auth. Rev. Refg. (Diakon Lutheran Social Ministries)

    0.15%
  • 140

    South Carolina Jobs-Econ Dev A 11/15/2029 5.75

    0.10%