FMUB vs. SLON

Last updated Jun 23, 2026

FMUB (Fidelity Municipal Bond Opportunities ETF) and SLON (ProShares Ultra Solana ETF) are both exchange-traded funds - FMUB is a Municipal Bonds fund actively managed by Fidelity, while SLON is a Cryptocurrency fund tracking the Bloomberg Solana Index. FMUB is actively managed, while SLON is passively managed. At a 0.05 correlation, their price movements are largely independent. FMUB charges 0.30%/yr vs 2.14%/yr for SLON.

Performance

FMUB vs. SLON - Performance Comparison

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

Returns By Period

In the year-to-date period, FMUB achieves a 2.07% return, which is significantly higher than SLON's -74.85% return.

FMUB

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

SLON

• 1D: 9.47%
• 1M: -29.66%
• YTD: -74.85%
• 6M: -75.00%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FMUB vs. SLON - Yearly Performance Comparison

	2026 (YTD)	2025
FMUB Fidelity Municipal Bond Opportunities ETF	2.07%	4.53%
SLON ProShares Ultra Solana ETF	-74.85%	-62.89%

Correlation

The correlation between FMUB and SLON is 0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 15, 2025	0.05

Return for Risk

FMUB vs. SLON — Risk / Return Rank

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

FMUB

FMUB Risk / Return Rank: 77
FMUB Sharpe Ratio Rank: 85
FMUB Sortino Ratio Rank: 89
FMUB Omega Ratio Rank: 91
FMUB Calmar Ratio Rank: 59
FMUB Martin Ratio Rank: 63

SLON

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

FMUB vs. SLON - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Municipal Bond Opportunities ETF (FMUB) and ProShares Ultra Solana ETF (SLON). 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.

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	SLON	Difference
Sharpe ratio: Return per unit of total volatility	2.66	—	—
Sortino ratio: Return per unit of downside risk	3.88	—	—
Omega ratio: Gain probability vs. loss probability	1.56	—	—
Calmar ratio: Return relative to maximum drawdown	2.83	—	—
Martin ratio: Return relative to average drawdown	11.26	—	—

Drawdowns

FMUB vs. SLON - Drawdown Comparison

The maximum FMUB drawdown since its inception was -2.74%, smaller than the maximum SLON drawdown of -96.31%. Use the drawdown chart below to compare losses from any high point for FMUB and SLON.

Drawdown Indicators

	FMUB	SLON	Difference
Max Drawdown Largest peak-to-trough decline	-2.74%	-96.31%	+93.57%
Max Drawdown (1Y) Largest decline over 1 year	-2.49%	—	—
Current Drawdown Current decline from peak	-0.13%	-95.28%	+95.15%
Average Drawdown Average peak-to-trough decline	-0.47%	-65.19%	+64.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.63%	—	—

Volatility

Volatility by Period

	FMUB	SLON	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.75%	—	—
Volatility (6M) Calculated over the trailing 6-month period	2.05%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	2.66%	148.05%	-145.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.64%	148.05%	-144.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.64%	148.05%	-144.41%

FMUB vs. SLON - Expense Ratio Comparison

FMUB has a 0.30% expense ratio, which is lower than SLON's 2.14% expense ratio.

Dividends

FMUB vs. SLON - Dividend Comparison

FMUB's dividend yield for the trailing twelve months is around 3.42%, less than SLON's 22.83% yield.

Position	TTM	2025
FMUB Fidelity Municipal Bond Opportunities ETF	3.42%	2.63%
SLON ProShares Ultra Solana ETF	22.83%	5.74%

Frequently Asked Questions

Can I hold both FMUB and SLON in my portfolio?

FMUB and SLON have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FMUB or SLON?

On fees, FMUB is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FMUB or SLON?

FMUB is cheaper with a 0.30% expense ratio, compared with 2.14% for SLON.

Which ETF pays a higher dividend yield, FMUB or SLON?

SLON has the higher dividend yield at 22.83%, compared with 3.42% for FMUB.

What is the main difference between FMUB and SLON?

FMUB is categorized as Municipal Bonds, while SLON is Cryptocurrency. They also come from different issuers: Fidelity and ProShares. Their fees differ too: 0.30% for FMUB and 2.14% for SLON.