- Issuer
- Fidelity
- Inception Date
- Feb 16, 2023
- Category
- Municipal Bonds
- Leveraged
- 1x (No leverage)
- Index Tracked
- No Index (Active)
- Distribution Policy
- Distributing
- Asset Class
- Bond
- Assets Under Management
- $220M
Highlights
- Avg. Volume (1M)
- 48K
- Avg. Volume Value (1M)
- $2.43M
Share Price Chart
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Performance
FMUB Performance Chart
Fidelity Municipal Bond Opportunities ETF (FMUB) is up 0.9% since the beginning of the year. FMUB is currently trading at $50 per share.
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Returns By Period
Fidelity Municipal Bond Opportunities ETF (FMUB) has returned 0.94% so far this year and 4.81% over the past 12 months.
Fidelity Municipal Bond Opportunities ETF
- 1D
- -0.13%
- 1M
- -1.59%
- 6M
- 0.32%
- YTD
- 0.94%
- 1Y
- 4.81%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 4.29%
Benchmark (S&P 500 Index)
- 1D
- 0.70%
- 1M
- 0.09%
- 6M
- 7.94%
- YTD
- 9.41%
- 1Y
- 20.07%
- 3Y*
- 17.84%
- 5Y*
- 11.25%
- 10Y*
- 13.26%
- ALL TIME*
- 8.09%
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 +0.35%. At this rate, an investment would double in approximately 16.5 years.
Historically, 75% of months were positive and 25% 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 58% 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%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.62% | 1.37% | -1.86% | 0.99% | 0.54% | 0.88% | -1.55% | 0.94% | |||||
| 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 2.51%, 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 participated in 16.13% of S&P 500 Index downside but only 11.40% of its upside - more exposed to losses than it benefited from rallies.
- 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
- 2.51%
- Beta
- 0.06
- R²
- 0.07
- Upside Capture
- 11.40%
- Downside Capture
- 16.13%
Expense Ratio
FMUB has an expense ratio of 0.30%, placing it in the medium range.
Return for Risk
Risk / Return Rank
FMUB ranks 76 for risk / return — above 76% of ETFs peers on PortfoliosLab. Its historical combined result is above most peers.
Risk / Return 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.
| FMUB | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.54 | ||
| Sortino ratioReturn per unit of downside risk | +0.78 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 1.25 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | 2.14 | 2.00 | +0.14 |
| Martin ratioReturn relative to average drawdown | 7.91 | 8.49 | -0.58 |
Dividends
Dividend History
Fidelity Municipal Bond Opportunities ETF provided a 3.55% dividend yield over the last twelve months, with an annual payout of $1.79 per share.
| Period | TTM | 2025 |
|---|---|---|
| Dividend | $1.79 | $1.34 |
Dividend yield | 3.55% | 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.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.14 | $0.13 | $0.14 | $0.14 | $0.13 | $0.15 | $0.14 | $0.98 | |||||
| 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 1.62%.
Drawdown | Fall | Recovery | Underwater | Related event |
|---|---|---|---|---|
-2.74%Apr 2025 | 1d | 2mo 16d | 2mo 17dApr 2025 - Jun 2025 | 2025 selloff2025 |
-2.49%Mar 2026 | 25d | 2mo 9d | 3mo 4dMar 2026 - Jun 2026 | — |
-1.66%Jul 2026 | 15d | — | 25dJul 2026 - now | — |
-0.70%Jul 2025 | 15d | 14d | 29dJul 2025 - Aug 2025 | — |
-0.47%Jan 2026 | 8d | 13d | 21dJan 2026 - Feb 2026 | — |
Drawdown Indicators
| FMUB | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest 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 DrawdownCurrent decline from peak | -1.62% | -1.58% | -0.04% |
Average DrawdownAverage peak-to-trough decline | -0.48% | -10.70% | +10.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.67% | 2.14% | -1.47% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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