Fidelity Municipal Bond Opportunities ETF
$48.81+0.18 (+0.37%)
- 0.30%
- $246M
- −1.4%
- 3.73%
- 0.1M sh
- $48.30
- low $47.75high $53.88
The ETF.net FMUB Grade
A
Score 70 out of 100
- 4 of 19
Score 70 of 100 falls in the A band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Cost
The fund’s net expense ratio, ranked against its category.A100 out of 100Rank 1 of 19Mission
Whether the fund did what it promised, tested against its stated mandate.A88 out of 100Rank 9 of 18Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.C53 out of 100Rank 6 of 19Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.D32 out of 100Rank 17 of 19Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.D34 out of 100Rank 16 of 19Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.C44 out of 100Rank 14 of 19
Our read on FMUB
ATax-free income is the job, but the mandate also leaves room for capital growth. Fidelity's 2023-vintage muni fund spreads across roughly 400 bonds and pays monthly.
The fund seeks high current income exempt from federal income tax, with capital growth also considered.
Why people hold it
- The mandate is broader than the usual muni playbook: high current income exempt from federal income tax, with capital growth also considered.
- It does what the label says. The portfolio hews closely to its stated muni-income mandate, one of the tighter mandate matches among municipal bond ETFs.
- Roughly 400 bonds behind it, and the payout runs monthly rather than quarterly.
Worth knowing
- At 0.30%, the fee sits right at the muni-ETF median. Index-tracking staples like VTEB (0.03%) and MUB (0.05%) charge a fraction of that.
- It trades thinly next to the category's giants, which can mean wider spreads at the moment you place an order.
- Launched in 2023, so the track record is short and assets stay modest against the multi-billion-dollar muni index funds.
FMUB Holdings
- Bonds
- 625
- 17%
- Municipal Cash Cf
Geography
- United States100.00%
FMUB Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
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FMUB$9,863
Returns run to the Oct 12, 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.
| Period | FMUB |
|---|---|
| Year to date | −2.1% |
| 1 month | −1.5% |
| 3 months | −4.4% |
| 1 year | −1.4% |
| 3 years | — |
| 5 years | — |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | FMUB |
|---|---|---|
| 2026 YTD | −2.1% | |
| 2025 | +6.6% |
FMUB in the news
FMUB Dividends
- 3.73%
- $1.81
- $0.16 per share
- Monthly
Distribution history
FMUB Risk
- 4.6%
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.
- −0.49
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.
- −6.1%
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.
- 0.91
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
FMUB Cost
0.30%
FMUB0.30%
- The middle half of High-Yield Municipal Bonds funds
- Median 0.40%
No High-Yield Municipal Bonds fund charges less.
Other funds in High-Yield Municipal Bonds
- AHYDVanEck High Yield Muni ETFExpense ratio 0.32%1 year return −1.2%
- AHYMBState Street SPDR Nuveen ICE High Yield Municipal Bond ETFExpense ratio 0.35%1 year return −1.8%
- BSHYDVanEck Short High Yield Muni ETFExpense ratio 0.32%1 year return +0.4%
- BHIMUBlackrock ETF Trust II - Ishares High Yield Muni Active ETFExpense ratio 0.40%1 year return −1.8%
- BTHYMT. Rowe Price High Income Municipal ETFExpense ratio 0.32%1 year return —