First Trust Ultra Short Duration Municipal ETF (FUMB) IV/HV History
Comparing implied volatility to historical (realized) volatility reveals whether options are priced rich or cheap relative to actual price movement. Persistent gaps can signal trading opportunities.
First Trust Ultra Short Duration Municipal ETF (FUMB) operates in the Financial Services sector, specifically the Asset Management - Leveraged industry, with a market capitalization near $228.4M, listed on AMEX, carrying a beta of 0.07 to the broader market. First Trust Ultra Short Duration Municipal ETF seeks to provide federally tax-exempt income consistent with capital preservation. public since 2018-11-07.
Snapshot as of May 14, 2026.
- Spot Price
- $20.05
- ATM IV
- 33.9%
- HV 20-Day
- 1.0%
- HV 60-Day
- 1.2%
- IV Rank
- 18.6%
- IV Percentile
- 61.1%
As of May 14, 2026, First Trust Ultra Short Duration Municipal ETF (FUMB) ATM implied volatility is 33.9%. 20-day realized volatility is 1.0%, producing an IV-HV spread of +32.9 vol points. Options are pricing in more volatility than the stock has recently delivered, the volatility risk premium. IV rank is 18.6%.
How FUMB iv/hv history Data Feeds Strategy Selection
Strategy selection on First Trust Ultra Short Duration Municipal ETF options does not derive from any single metric in isolation. The iv/hv history view above sits inside a broader read: ATM IV currently sits at 33.9% and dealer gamma exposure is positive, so dealer hedging is mechanically mean-reverting. Combine the iv/hv history data here with the volatility-skew surface, dealer-gamma exposure, max-pain level, and upcoming-events calendar to build a positioning thesis. Risk-defined structures (credit spreads, debit spreads, iron condors) are usually safer than naked positions while the regime is uncertain; the data on this page anchors the inputs but does not by itself constitute a trade thesis.
Learn how implied vs realized volatility is reported and how to read the data →
Frequently asked FUMB iv/hv history questions
- Is FUMB options pricing rich or cheap right now?
- As of May 14, 2026, First Trust Ultra Short Duration Municipal ETF (FUMB) ATM IV is 33.9% against 20-day realized volatility of 1.0%. IV rank is 18.6%. FUMB options are pricing in more volatility than the stock has recently realized: a positive variance risk premium worth 32.9 vol points.
- What is the FUMB variance risk premium?
- The variance risk premium is the persistent gap between implied and subsequently realized volatility. In equity markets it averages positive because option sellers demand compensation for bearing variance shocks. FUMB is currently priced consistently with this premium, which is one input to whether short-vol or long-vol structures carry their typical edge.
- What does FUMB IV rank mean for strategy selection?
- IV rank normalizes the current ATM IV to its 1-year range: 0% is the low, 100% is the high. FUMB's current rank of 18.6% signals where current pricing sits in its own 1-year history. High-rank regimes typically favor premium-selling structures (credit spreads, condors, covered calls); low-rank regimes typically favor premium-buying or long-volatility structures.