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FIMU

GradeCNASDAQ Global Market

Fidelity Intermediate Municipal Income ETF

Municipal Bond · Fidelity · Inception 2026-06-16

$19.23−0.13 (−0.70%)

As of Sep 23, 2026, 3:03 PM EDT

History starts Jun 16, 2026.History starts Jun 16, 2026.History starts Jun 16, 2026.
Intraday session: down, 28 prints from 19.36 to 19.23. Range 19.16 to 19.33. Use the arrow keys to read each point.$19.15$19.20$19.25$19.30$19.3510 AM12 PM2 PM4 PM
Expense ratio
0.31%
Fund size
$3M
1Y return
—
Yield · Last 12 months
Data unavailable
Volume · 30D
0M sh
NAV per share
$19.29
52W range
low $19.33high $20.27

The ETF.net FIMU Grade

C

40/ 100

Rank 19 of 20 in Intermediate Municipal Bonds⁠

Confidence Medium

Six-pillar profile for FIMU. Scores out of 100: Cost 58, Risk 35, Mission not scored, Tradability 10, Holdings 64, Durability 34. Strongest: Holdings (64). Weakest: Tradability (10). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 40 of 100 sits in the C band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E. A structural cap ceilings this fund at 40, so B and A are out of reach.

Ceiling 40 · B and A out of reach

The pillars earned43This cap took−3Published score40 Grade C

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    BScore 58
    Category rank9/20 · top 45%

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    Not scored
    —

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    DScore 35
    Category rank19/20 · bottom quartile

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    FScore 10
    Category rank19/20 · bottom quartile

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    BScore 64
    Category rank7/20 · top 35%

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    DScore 34
    Category rank17/20 · bottom quartile

Graded as of Sep 22, 2026 · Based on 5 of 6 pillars

Our read on FIMU

ETF.net Research

CFIMU isn't a new idea in a new wrapper. It's Fidelity's long-running active intermediate muni strategy, same portfolio and same managers, now trading on an exchange as one of the firm's first ETF share classes.

Stated mandate

The fund seeks a high level of current income exempt from federal income tax while preserving capital. It normally invests at least 80% of assets in investment-grade municipal securities and maintains a dollar-weighted average maturity of 3 to 10 years.

Why people hold it

  1. 01Not a startup fund in disguise: the ETF class was bolted onto an existing Fidelity muni mutual fund, sharing its portfolio, investment policies, management team and track record.fidelity.cominstitutional.fidelity.com
  2. 02Active, but with rails: at least 80% of assets in investment-grade munis and average maturity kept between 3 and 10 years, hunting income exempt from federal income tax.institutional.fidelity.com
  3. 03At 0.31% a year, it comes in under the typical fund in its intermediate-muni peer group, and Fidelity's team picks the bonds instead of copying an index.

Worth knowing

  1. 01Active judgment carries a toll. Index rivals in the same cohort run far cheaper (TAXI at 0.05%, MUNY at 0.09%, EVIM at 0.11%) against FIMU's 0.31%.
  2. 02The exchange-traded class only started trading in 2026 and is still a small, lightly traded slice of the strategy, so spreads matter more here than with the category's busiest tickers.
  3. 03Income arrives quarterly, not monthly, so the tax-free cash shows up in four installments a year.

FIMU Holdings

As of Sep 21, 2026, 3:29 PM
Asset class
Bonds
Holdings
—
Top-10 weight
8%
Largest holding
MUNICIPAL CASH CF2.1%

Geography

  • United States100.00%
The fund’s holdings, weight-ordered — page 1 of 205.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—MUNICIPAL CASH CF2.07%282,668,510$283M3
002—BLACK BELT ENE 5% 06/01/310.81%108,380,000$111M12
003—BLACK BELT ENE 5% 11/01/360.80%107,875,000$109M16
004—MAIN STREET ENE 5% 10/01/330.73%96,755,000$100M7
005—MAIN STREET ENE 5% 09/01/360.67%91,270,000$92M5
006—SOUTHEAST EN AL 5% 10/01/300.57%74,560,000$77M20
007—LOWER ALA GAS D 5% 12/01/330.56%76,605,000$77M10
008—BLACK BELT ENE 5% 10/01/330.56%74,000,000$76M9
009—TEXAS MUNICIPAL 5.25% 04/01/30.55%73,000,000$76M3
010—ENERGY SOUTHEAS 5% 04/01/340.54%73,000,000$74M5
011—TEXAS MUNICIPA 5.25% 03/01/370.50%66,585,000$69M5
012—ENERGY SOUTHEAS 5% 11/01/330.49%65,590,000$67M6
013—CA CHOICE (CIBC) 5% 2/1/310.48%64,000,000$66M12
014—BLACK BELT ENE 12/01/55 MT0.45%60,100,000$62M13
015—SOUTHEAST ENERGY AUTH 5.25% MT0.41%55,310,000$56M13

Showing 1–15 of 3066 holdings

FIMU Performance

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

FIMU$9,707
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$10,415
Jun 22, 2026 to Sep 22, 2026. FIMU $9,707. SPY $10,415. Use the arrow keys to read each point.$9,648$10,078$10,509Jun 2026Aug 2026Sep 2026

Jun 22, 2026 – Sep 22, 2026

Returns run to the Sep 22, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for FIMU. Periods over one year show the average yearly return.
PeriodFIMU
Year to dateFund launched this year—
1 month−2.0%
3 months−2.9%
1 yearFund is under 1 year old—
3 yearsFund is under 3 years old—per year
5 yearsFund is under 5 years old—per year
10 yearsFund is under 10 years old—per year

As of the close, with distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for FIMU
YearReturn barFIMU
2026 YTD−2.6%

Since listing, Jun 16, 2026

FIMU in the news

ETF.net Research hasn’t filed on FIMU yet — coverage lands here as it’s written.

FIMU Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Sep 22, 2026.
Data unavailableLast 12 months
Payout per share
Data unavailableLast 12 months
Last payment
$0.05 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Monthly

Distribution data unavailable.

Distribution history

2026

One bar per payment. 3 payments in 2026 YTD. Jul 1, 2026 $0.02; Aug 3, 2026 $0.05; Sep 1, 2026 $0.05. Use the arrow keys to read each point.2026YTD
Ex-datePay dateAmount per share
Sep 1, 2026Sep 3, 2026$0.05
Aug 3, 2026Aug 5, 2026$0.05
Jul 1, 2026Jul 6, 2026$0.02

FIMU Risk

How much the fund’s monthly returns vary, scaled to a year.
—
Launched Jun 2026; fills in after 12 months
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
—
Launched Jun 2026; fills in after 12 months
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
—
Launched Jun 2026; fills in after 12 months
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
0.77
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

FIMU Cost

Expense ratio0.31%
  • The middle half of Intermediate Municipal Bonds funds
  • Median 0.35%

7 of the 19 Intermediate Municipal Bonds funds charge less.

FIMU costs $31.00 a year on $10,000. The median Intermediate Municipal Bonds fund costs $35.00.