Fidelity Municipal Bond Opportunities ETF (FMUB) belongs to the Municipal Bonds category. Below you'll find alternative ETFs from the same category, ranked by key criteria, plus funds that investors commonly compare with FMUB. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to FMUB
FMUB charges 0.30% annually. There are 88 ETFs in the Municipal Bonds category with lower expense ratios, going as low as 0.03%.
| Symbol | Name | Expense Ratio | AUM | Inception | |
|---|---|---|---|---|---|
| Vanguard Tax-Exempt Bond ETF | 0.03% | 47.60B | Aug 2015 | FMUB vs VTEB | |
| Schwab Municipal Bond ETF | 0.03% | 3.92B | Oct 2022 | FMUB vs SCMB | |
| Fidelity Systematic Municipal Bond Index ETF | 0.05% | 180.62M | Jul 2019 | FMUB vs FMUN | |
| Northern Trust Intermediate Tax-Exempt Bond ETF | 0.05% | 153.73M | Aug 2025 | FMUB vs TAXI | |
| Northern Trust Short-Term Tax-Exempt Bond ETF | 0.05% | 116.60M | Aug 2025 | FMUB vs TAXS |
Best Risk-Adjusted Alternatives to FMUB
FMUB has a PortfoliosLab risk / return rank of 77. There are 31 ETFs in the Municipal Bonds category with higher risk-adjusted ranks, going as high as 97.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| State Street My2027 Municipal Bond ETF | 97 | 9.88M | Sep 2024 | FMUB vs MYMG | |
| First Trust Ultra Short Duration Municipal ETF | 97 | 246.08M | Nov 2018 | FMUB vs FUMB | |
| State Street My2026 Municipal Bond ETF | 96 | 8.74M | Sep 2024 | FMUB vs MYMF | |
| iShares Short Maturity Municipal Bond ETF | 96 | 1.39B | Mar 2015 | FMUB vs MEAR | |
| Goldman Sachs Ultra Short Municipal Income ETF | 95 | 38.99M | Jul 2024 | FMUB vs GUMI |
Top Performing FMUB Alternatives (YTD)
FMUB is at 2.07% YTD. There are 42 ETFs in the Municipal Bonds category with higher YTD returns, going as high as 4.19%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| Xtrackers Municipal Infrastructure Revenue Bond ET... | 4.19% | 142.76M | Jun 2013 | FMUB vs RVNU | |
| First Trust Flexible Municipal High Income ETF | 3.96% | 19.03M | Sep 2016 | FMUB vs MFLX | |
| T. Rowe Price High Income Municipal ETF | 3.82% | 25.43M | Nov 2025 | FMUB vs THYM | |
| Overlay Shares Municipal Bond ETF | 3.75% | 30.60M | Sep 2019 | FMUB vs OVM | |
| NYLI MacKay Muni Allocation ETF | 3.54% | 27.55M | Dec 2025 | FMUB vs MMMA |
Lowest Volatility Alternatives to FMUB
FMUB has 2.66% 1-year volatility. There are 65 ETFs in the Municipal Bonds category with lower 1-year volatility, going as low as 0.54%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| F/m Ultrashort Tax-Free Municipal ETF | 0.54% | 30.59M | Sep 2025 | FMUB vs ZMUN | |
| State Street My2026 Municipal Bond ETF | 0.73% | 8.74M | Sep 2024 | FMUB vs MYMF | |
| iShares Short-Term California Muni Active ETF | 0.75% | 398.45M | Oct 2007 | FMUB vs CALI | |
| Allspring Ultra Short Municipal ETF | 0.75% | 30.06M | Jul 2025 | FMUB vs AUSM | |
| First Trust Ultra Short Duration Municipal ETF | 0.77% | 246.08M | Nov 2018 | FMUB vs FUMB |
Lowest Drawdown Alternatives to FMUB
FMUB has a 1-year max drawdown of -2.49%. There are 50 ETFs in the Municipal Bonds category with shallower 1-year drawdowns, going as shallow as -0.22%.
| Symbol | Name | Max Drawdown 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| First Trust Ultra Short Duration Municipal ETF | -0.22% | 246.08M | Nov 2018 | FMUB vs FUMB | |
| Invesco BulletShares 2026 Municipal Bond ETF | -0.33% | 290.51M | Sep 2019 | FMUB vs BSMQ | |
| Goldman Sachs Ultra Short Municipal Income ETF | -0.36% | 38.99M | Jul 2024 | FMUB vs GUMI | |
| State Street My2027 Municipal Bond ETF | -0.36% | 9.88M | Sep 2024 | FMUB vs MYMG | |
| iShares iBonds Dec 2026 Term Muni Bond ETF | -0.38% | 587.10M | Apr 2019 | FMUB vs IBMO |
Other ETFs from Fidelity
The 10 most viewed Fidelity ETFs shown here include FTEC, FDVV, FBTC and span 7 categories. AUM among these funds goes as high as $26B.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| Fidelity MSCI Information Technology Index ETF | Technology Equities | 70 | 28.31% | 21.38B | Oct 2013 | FMUB vs FTEC | |
| Fidelity High Dividend ETF | Large Cap Blend Equities, Dividend | 65 | 8.30% | 9.77B | Sep 2016 | FMUB vs FDVV | |
| Fidelity Wise Origin Bitcoin Fund | Cryptocurrency | 3 | -26.51% | 13.40B | Jan 2024 | FMUB vs FBTC | |
| Fidelity Total Bond ETF | Intermediate Core-Plus Bond | 36 | 0.61% | 26.06B | Oct 2014 | FMUB vs FBND | |
| Fidelity Nasdaq Composite Index ETF | Large Cap Growth Equities | 62 | 13.30% | 10.92B | Sep 2003 | FMUB vs ONEQ | |
| Fidelity Blue Chip Growth ETF | Large Cap Growth Equities | 53 | 13.26% | 6.91B | Jun 2020 | FMUB vs FBCG | |
| Fidelity Enhanced Large Cap Core ETF | Large Cap Blend Equities | 70 | 10.25% | 7.64B | Apr 2007 | FMUB vs FELC | |
| Fidelity MSCI Utilities Index ETF | Utilities Equities | 28 | 6.00% | 2.35B | Oct 2013 | FMUB vs FUTY | |
| Fidelity Ethereum Fund | Cryptocurrency | 6 | -41.68% | 994.18M | Jul 2024 | FMUB vs FETH | |
| Fidelity Enhanced Large Cap Growth ETF | Large Cap Growth Equities | 37 | 4.06% | 5.76B | Nov 2023 | FMUB vs FELG |
Often Compared With FMUB
Investors most often compare FMUB with MUB, FTABX, FXAIX. These 20 comparison targets span 10 categories, based on PortfoliosLab usage data.
Compare FMUB with Any Fund or Stock
Compare FMUB with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair FMUB with funds that move differently
Fidelity Municipal Bond Opportunities ETF alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to FMUB.
Explore FMUB Diversifiers