First Trust Ultra Short Duration Municipal ETF (FUMB) 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 FUMB. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to FUMB
FUMB charges 0.45% annually. There are 128 ETFs in the Municipal Bonds category with lower expense ratios, going as low as 0.03%.
| Symbol | Name | Expense Ratio | AUM | Inception | |
|---|---|---|---|---|---|
| Schwab Municipal Bond ETF | 0.03% | 4.00B | Oct 2022 | FUMB vs SCMB | |
| Vanguard Tax-Exempt Bond ETF | 0.03% | 47.60B | Aug 2015 | FUMB vs VTEB | |
| Northern Trust Intermediate Tax-Exempt Bond ETF | 0.05% | 163.46M | Aug 2025 | FUMB vs TAXI | |
| Northern Trust Short-Term Tax-Exempt Bond ETF | 0.05% | 126.55M | Aug 2025 | FUMB vs TAXS | |
| Northern Trust Tax-Exempt Bond ETF | 0.05% | 60.72M | Aug 2025 | FUMB vs TAXT |
Best Risk-Adjusted Alternatives to FUMB
FUMB has a PortfoliosLab risk / return rank of 97. There is 1 ETF in the Municipal Bonds category with a higher risk-adjusted rank, going as high as 97.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| State Street My2027 Municipal Bond ETF | 97 | 8.64M | Sep 2024 | FUMB vs MYMG | |
| State Street My2026 Municipal Bond ETF | 97 | 8.73M | Sep 2024 | FUMB vs MYMF | |
| Allspring Ultra Short Municipal ETF | 97 | 30.06M | Jul 2025 | FUMB vs AUSM | |
| iShares Short Maturity Municipal Bond ETF | 96 | 1.41B | Mar 2015 | FUMB vs MEAR | |
| Goldman Sachs Ultra Short Municipal Income ETF | 96 | 38.99M | Jul 2024 | FUMB vs GUMI |
Top Performing FUMB Alternatives (YTD)
FUMB is at 1.50% YTD. There are 73 ETFs in the Municipal Bonds category with higher YTD returns, going as high as 4.58%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| Xtrackers Municipal Infrastructure Revenue Bond ET... | 4.58% | 143.84M | Jun 2013 | FUMB vs RVNU | |
| Rareview Tax Advantaged Income ETF | 4.03% | 18.13M | Oct 2020 | FUMB vs RTAI | |
| First Trust Flexible Municipal High Income ETF | 4.02% | 20.73M | Sep 2016 | FUMB vs MFLX | |
| T. Rowe Price High Income Municipal ETF | 3.75% | 25.42M | Nov 2025 | FUMB vs THYM | |
| Overlay Shares Municipal Bond ETF | 3.73% | 30.60M | Sep 2019 | FUMB vs OVM |
Lowest Volatility Alternatives to FUMB
FUMB has 0.79% 1-year volatility. There are 4 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% | 33.31M | Sep 2025 | FUMB vs ZMUN | |
| State Street My2026 Municipal Bond ETF | 0.71% | 8.73M | Sep 2024 | FUMB vs MYMF | |
| iShares Short-Term California Muni Active ETF | 0.71% | 408.07M | Oct 2007 | FUMB vs CALI | |
| Allspring Ultra Short Municipal ETF | 0.73% | 30.06M | Jul 2025 | FUMB vs AUSM | |
| State Street My2027 Municipal Bond ETF | 0.85% | 8.64M | Sep 2024 | FUMB vs MYMG |
Lowest Drawdown Alternatives to FUMB
FUMB has a 1-year max drawdown of -0.22%. No ETFs in the Municipal Bonds category have shallower 1-year drawdowns; the lowest-drawdown alternatives shown here go as shallow as -0.30%.
| Symbol | Name | Max Drawdown 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Invesco BulletShares 2026 Municipal Bond ETF | -0.30% | 283.20M | Sep 2019 | FUMB vs BSMQ | |
| Goldman Sachs Ultra Short Municipal Income ETF | -0.36% | 38.99M | Jul 2024 | FUMB vs GUMI | |
| State Street My2027 Municipal Bond ETF | -0.36% | 8.64M | Sep 2024 | FUMB vs MYMG | |
| iShares iBonds Dec 2026 Term Muni Bond ETF | -0.38% | 581.67M | Apr 2019 | FUMB vs IBMO | |
| State Street My2026 Municipal Bond ETF | -0.38% | 8.73M | Sep 2024 | FUMB vs MYMF |
Other ETFs from First Trust
The 10 most viewed First Trust ETFs shown here include CIBR, GRID, AIRR and span 14 categories. AUM among these funds goes as high as $14B.
Often Compared With FUMB
Investors most often compare FUMB with SGOV, SUB, JMST. These 19 comparison targets span 5 categories, based on PortfoliosLab usage data.
Compare FUMB with Any Fund or Stock
Compare FUMB with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair FUMB with funds that move differently
First Trust Ultra Short Duration Municipal ETF alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to FUMB.
Explore FUMB Diversifiers