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Issuer
Fidelity
Inception Date
Feb 16, 2023
Leveraged
1x (No leverage)
Index Tracked
No Index (Active)
Distribution Policy
Distributing
Asset Class
Bond
Assets Under Management
$212M

Share Price Chart


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Performance

FMUB Performance Chart

Fidelity Municipal Bond Opportunities ETF (FMUB) is up 2.1% since the beginning of the year. FMUB is currently trading at $51 per share.


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S&P 500 Index

Returns By Period

Fidelity Municipal Bond Opportunities ETF (FMUB) has returned 2.07% so far this year and 7.03% over the past 12 months.


Fidelity Municipal Bond Opportunities ETF

1D
-0.13%
1M
1.40%
YTD
2.07%
6M
2.12%
1Y
7.03%
3Y*
5Y*
10Y*

Benchmark (S&P 500 Index)

1D
-0.37%
1M
-0.01%
YTD
9.16%
6M
8.64%
1Y
25.22%
3Y*
19.78%
5Y*
11.99%
10Y*
13.88%
*Multi-year figures are annualized to reflect compound growth (CAGR)

FMUB Monthly Returns History

Based on dividend-adjusted daily data since Apr 7, 2025, FMUB's average daily return is +0.02%, while the average monthly return is +0.45%. At this rate, an investment would double in approximately 12.9 years.

Historically, 80% of months were positive and 20% were negative. The best month was Sep 2025 with a return of +2.1%, while the worst month was Mar 2026 at -1.9%. The longest winning streak lasted 9 consecutive months, and the longest losing streak was 2 months.

On a daily basis, FMUB closed higher 59% of trading days. The best single day was Apr 11, 2025 with a return of +1.1%, while the worst single day was Apr 7, 2025 at -1.8%.


JanFebMarAprMayJunJulAugSepOctNovDecTotal
20260.62%1.37%-1.86%0.99%0.54%0.43%2.07%
2025-0.59%-0.26%1.10%0.09%0.96%2.06%1.00%0.14%0.10%4.69%

Benchmark Metrics

Fidelity Municipal Bond Opportunities ETF has an annualized alpha of 3.72%, beta of 0.06, and R2 of 0.07 versus S&P 500 Index. Calculated based on daily prices since April 07, 2025.

  • This ETF captured 11.40% of S&P 500 Index gains and tended to rise during its downturns (downside capture of -0.19%) - a profile typical of hedging or uncorrelated assets.
  • Beta of 0.06 may look defensive, but with R2 of 0.07 this ETF is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this ETF's risk.
  • R2 of 0.07 means this ETF moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.

Alpha
3.72%
Beta
0.06
0.07
Upside Capture
11.40%
Downside Capture
-0.19%

Expense Ratio

FMUB has an expense ratio of 0.30%, placing it in the medium range.


Return for Risk

Risk / Return Rank

FMUB ranks 77 for risk / return — better than 77% of ETFs on our site. You're getting solid returns for the risk taken. A good sign, especially for investors who want growth without excessive volatility.


FMUB Risk / Return Rank: 7777
Overall Rank
FMUB Sharpe Ratio Rank: 8585
Sharpe Ratio Rank
FMUB Sortino Ratio Rank: 8989
Sortino Ratio Rank
FMUB Omega Ratio Rank: 9191
Omega Ratio Rank
FMUB Calmar Ratio Rank: 5959
Calmar Ratio Rank
FMUB Martin Ratio Rank: 6363
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

Return / Risk — by metrics

The table below present risk-adjusted performance metrics for Fidelity Municipal Bond Opportunities ETF (FMUB) and compare them to S&P 500 Index.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.


FMUBBenchmarkDifference
Sharpe ratioReturn per unit of total volatility

+0.63

Sortino ratioReturn per unit of downside risk

+1.12

Omega ratioGain probability vs. loss probability

1.56

1.37

+0.20

Calmar ratioReturn relative to maximum drawdown

2.83

2.78

+0.05

Martin ratioReturn relative to average drawdown

11.26

12.44

-1.18

Dividends

Dividend History

Fidelity Municipal Bond Opportunities ETF provided a 3.42% dividend yield over the last twelve months, with an annual payout of $1.75 per share.


2.63%$0.00$0.20$0.40$0.60$0.80$1.00$1.20$1.402025
Dividends
Dividend Yield
PeriodTTM2025
Dividend$1.75$1.34

Dividend yield

3.42%2.63%

Monthly Dividends

The table displays the monthly dividend distributions for Fidelity Municipal Bond Opportunities ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.


JanFebMarAprMayJunJulAugSepOctNovDecTotal
2026$0.14$0.13$0.14$0.14$0.13$0.00$0.68
2025$0.11$0.16$0.12$0.14$0.13$0.14$0.15$0.15$0.24$1.34

Drawdowns

Drawdowns Chart

The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.


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Worst Drawdowns

The table below displays the maximum drawdowns of the Fidelity Municipal Bond Opportunities ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.

The maximum drawdown for the Fidelity Municipal Bond Opportunities ETF was 2.74%, occurring on Apr 8, 2025. Recovery took 51 trading sessions.

The current Fidelity Municipal Bond Opportunities ETF drawdown is 0.13%.


Related event

Drawdown

Fall

Recovery

Underwater

2025 selloff2025
-2.74%Apr 2025
1d2mo 16d
2mo 17dApr 2025 - Jun 2025
2026 pullback2026
-2.49%Mar 2026
25d2mo 9d
3mo 4dMar 2026 - Jun 2026
2025 pullback2025
-0.70%Jul 2025
15d14d
29dJul 2025 - Aug 2025
2026 pullback2026
-0.47%Jan 2026
8d13d
21dJan 2026 - Feb 2026
2025 pullback2025
-0.42%Sep 2025
3d14d
17dSep 2025 - Oct 2025

Drawdown Indicators


FMUBBenchmarkDifference

Max Drawdown

Largest peak-to-trough decline

-2.74%

-56.78%

+54.04%

Max Drawdown (1Y)

Largest decline over 1 year

-2.49%

-9.10%

+6.61%

Max Drawdown (3Y)

Largest decline over 3 years

-18.90%

Max Drawdown (5Y)

Largest decline over 5 years

-25.43%

Max Drawdown (10Y)

Largest decline over 10 years

-33.92%

Current Drawdown

Current decline from peak

-0.13%

-1.80%

+1.67%

Average Drawdown

Average peak-to-trough decline

-0.47%

-10.71%

+10.24%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.63%

2.03%

-1.40%

Volatility

Volatility Chart

The chart below shows the rolling one-month volatility.


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Portfolio Analyzer

Build a portfolio with FMUB

Add Fidelity Municipal Bond Opportunities ETF to a portfolio and analyze allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

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