---
ticker: "FMUN"
name: "Fidelity Systematic Municipal Bond Index ETF"
url: "https://etf.net/etf/FMUN"
grade: "A"
score: 72
graded_at: "2026-10-12"
category: "Other Municipal Bond"
category_rank: "13 of 63"
methodology: "https://etf.net/methodology"
---

# FMUN: Fidelity Systematic Municipal Bond Index ETF

Grade **A**, Score 72 of 100. Rank 13 of 63 in Other Municipal Bond.

Graded Oct 12, 2026.

## Grade pillars

| Pillar | Score | Category rank |
| --- | --- | --- |
| Cost | 95 | 3 of 63 |
| Mission | 89 | 30 of 59 |
| Risk | 39 | 52 of 63 |
| Tradability | 27 | 52 of 63 |
| Holdings | 88 | 5 of 63 |
| Durability | 61 | 29 of 63 |

## Top holdings

The fund holds 1186 positions. These are the largest 30, by weight.

| # | Ticker | Name | Weight |
| --- | --- | --- | --- |
| 1 | — | Net Other Assets | 1.21% |
| 2 | — | Kentucky Inc Ky 06/01/55 Mt | 0.94% |
| 3 | — | Univ Cal Rev 5% 05/15/31 | 0.64% |
| 4 | — | Main Str Nat Ga 09/01/52 Mt | 0.59% |
| 5 | — | Black Belt Ene 5% 10/01/35 | 0.54% |
| 6 | — | Ca St 5% 08/01/35 | 0.52% |
| 7 | — | Pa Tpk 5% 12/01/40 | 0.52% |
| 8 | — | Southeast Energy Auth 5.25% Mt | 0.50% |
| 9 | — | Il St 5% 05/01/37 | 0.48% |
| 10 | — | Triborough Brid 4% 05/15/46 | 0.46% |
| 11 | — | Municipal Cash Cf | 0.43% |
| 12 | — | Ny Trans Corp 5.375% 06/30/60@ | 0.43% |
| 13 | — | Main Str Nat Ga 5% Mt | 0.43% |
| 14 | — | Black Belt Ene 5% 7/1/31MT 55 | 0.41% |
| 15 | — | La Ca USD 5% 07/01/31 | 0.40% |
| 16 | — | California Cmy 4% Mt | 0.40% |
| 17 | — | La Ca Dwap 5% 07/01/35 | 0.37% |
| 18 | — | Ny Mta Transp 5% 11/15/52 | 0.37% |
| 19 | — | New York St D 5.25% 03/15/48 | 0.36% |
| 20 | — | Colorado Health 4% 08/01/39 | 0.36% |
| 21 | — | New York Auth 4.125% 11/1/53 | 0.35% |
| 22 | — | Black Belt Ene 12/01/55 Mt | 0.34% |
| 23 | — | Nys Dorm Pit 5% 03/15/55 | 0.32% |
| 24 | — | Nyc Wtr 5.25% 6/15/53 | 0.32% |
| 25 | — | Nj Transp 5% 06/15/46 | 0.32% |
| 26 | — | Public Fa Wi 5.75% 12/31/65 @ | 0.31% |
| 27 | — | Slt Lake Ut Ser A 5% 7/1/29@ | 0.31% |
| 28 | — | South Miami Fl 5% 8/15/32 | 0.31% |
| 29 | — | Ny State Ur D 5% 03/15/36 | 0.31% |
| 30 | — | Black Belt Al 5.25% 12/1/53 Mt | 0.30% |

Source: etf.net, https://etf.net/etf/FMUN. Please cite the page URL.