FLTMX vs. FMUB

Last updated Apr 2, 2026

Compare and contrast key facts about Fidelity Intermediate Municipal Income Fund (FLTMX) and Fidelity Municipal Bond Opportunities ETF (FMUB).

FLTMX is managed by Fidelity. It was launched on Apr 15, 1977. FMUB is an actively managed fund by Fidelity. It was launched on Feb 16, 2023.

Performance

FLTMX vs. FMUB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Intermediate Municipal Income Fund (FLTMX) and Fidelity Municipal Bond Opportunities ETF (FMUB). The values are adjusted to include any dividend payments, if applicable.

FLTMX vs. FMUB - Yearly Performance Comparison

	2026 (YTD)	2025
FLTMX Fidelity Intermediate Municipal Income Fund	-0.73%	5.63%
FMUB Fidelity Municipal Bond Opportunities ETF	0.35%	6.63%

Returns By Period

In the year-to-date period, FLTMX achieves a -0.73% return, which is significantly lower than FMUB's 0.35% return.

FLTMX

• 1D: 0.20%
• 1M: -2.40%
• YTD: -0.73%
• 6M: 0.70%
• 1Y: 4.14%
• 3Y*: 3.14%
• 5Y*: 1.17%
• 10Y*: 2.10%

FMUB

• 1D: 0.25%
• 1M: -1.37%
• YTD: 0.35%
• 6M: 1.49%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

FLTMX vs. FMUB - Expense Ratio Comparison

FLTMX has a 0.32% expense ratio, which is higher than FMUB's 0.30% expense ratio.

FLTMX

Fidelity Intermediate Municipal Income Fund

FMUB

Fidelity Municipal Bond Opportunities ETF

Return for Risk

FLTMX vs. FMUB — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FLTMX

FLTMX Risk / Return Rank: 65
FLTMX Sharpe Ratio Rank: 67
FLTMX Sortino Ratio Rank: 61
FLTMX Omega Ratio Rank: 84
FLTMX Calmar Ratio Rank: 59
FLTMX Martin Ratio Rank: 56

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.

FLTMX vs. FMUB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Intermediate Municipal Income Fund (FLTMX) and Fidelity Municipal Bond Opportunities ETF (FMUB). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	FLTMX	FMUB	Difference
Sharpe ratio Return per unit of total volatility	1.22	—	—
Sortino ratio Return per unit of downside risk	1.63	—	—
Omega ratio Gain probability vs. loss probability	1.35	—	—
Calmar ratio Return relative to maximum drawdown	1.45	—	—
Martin ratio Return relative to average drawdown	5.56	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	FLTMX	FMUB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.22	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.39	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.65	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.35	2.13	-0.78

Correlation

The correlation between FLTMX and FMUB is 0.56, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

FLTMX vs. FMUB - Dividend Comparison

FLTMX's dividend yield for the trailing twelve months is around 2.85%, less than FMUB's 3.44% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FLTMX Fidelity Intermediate Municipal Income Fund	2.85%	3.70%	2.47%	2.42%	1.36%	1.67%	2.00%	2.39%	3.31%	2.64%	3.20%	2.36%
FMUB Fidelity Municipal Bond Opportunities ETF	3.44%	2.63%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

FLTMX vs. FMUB - Drawdown Comparison

The maximum FLTMX drawdown since its inception was -16.13%, which is greater than FMUB's maximum drawdown of -2.49%. Use the drawdown chart below to compare losses from any high point for FLTMX and FMUB.

Drawdown Indicators

	FLTMX	FMUB	Difference
Max Drawdown Largest peak-to-trough decline	-16.13%	-2.49%	-13.64%
Max Drawdown (1Y) Largest decline over 1 year	-3.56%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-10.91%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-10.91%	—	—
Current Drawdown Current decline from peak	-2.68%	-1.61%	-1.07%
Average Drawdown Average peak-to-trough decline	-1.64%	-0.30%	-1.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.93%	—	—

Volatility

Volatility by Period

	FLTMX	FMUB	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.03%	—	—
Volatility (6M) Calculated over the trailing 6-month period	1.56%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	3.71%	3.36%	+0.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.02%	3.36%	-0.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.22%	3.36%	-0.14%