FSST vs. FUMB

Last updated Jun 5, 2026

FSST (Fidelity Sustainability U.S. Equity ETF) and FUMB (First Trust Ultra Short Duration Municipal ETF) are both exchange-traded funds - FSST is a Sustainable fund tracking the Russell 3000, while FUMB is a Municipal Bonds fund actively managed by First Trust. FSST is passively managed, while FUMB is actively managed. At a 0.04 correlation, their price movements are largely independent. FSST charges 0.59%/yr vs 0.45%/yr for FUMB.

Performance

FSST vs. FUMB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Sustainability U.S. Equity ETF (FSST) and First Trust Ultra Short Duration Municipal ETF (FUMB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

FSST

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

FUMB

• 1D: 0.07%
• 1M: 0.27%
• YTD: 1.15%
• 6M: 1.33%
• 1Y: 2.63%
• 3Y*: 3.00%
• 5Y*: 1.98%
• 10Y*: —

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

FSST vs. FUMB - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
FSST Fidelity Sustainability U.S. Equity ETF	0.00%	15.40%	21.40%	25.49%	-18.30%	12.81%
FUMB First Trust Ultra Short Duration Municipal ETF	1.15%	2.78%	3.05%	2.84%	-0.03%	0.06%

Correlation

The correlation between FSST and FUMB is -0.16, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.16
Correlation (3Y) Calculated over the trailing 3-year period	0.00
Correlation (All Time) Calculated using the full available price history since Jun 18, 2021	0.04

The correlation between FSST and FUMB shifts across timeframes, from -0.16 (1 year) to 0.04 (all time), reflecting how their relationship changes across market environments.

Return for Risk

FSST vs. FUMB — Risk / Return Rank

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

FUMB

FUMB Risk / Return Rank: 96
FUMB Sharpe Ratio Rank: 93
FUMB Sortino Ratio Rank: 96
FUMB Omega Ratio Rank: 96
FUMB Calmar Ratio Rank: 97
FUMB Martin Ratio Rank: 97

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.

FSST vs. FUMB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Sustainability U.S. Equity ETF (FSST) and First Trust Ultra Short Duration Municipal ETF (FUMB). 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.

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

Sharpe Ratios by Period

	FSST	FUMB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	3.46	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	1.71	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	1.01	—

Drawdowns

Drawdown Indicators

	FSST	FUMB	Difference
Max Drawdown Largest peak-to-trough decline	—	-2.68%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-0.22%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-0.60%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-1.25%	—
Current Drawdown Current decline from peak	—	0.00%	—
Average Drawdown Average peak-to-trough decline	—	-0.19%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.06%	—

Volatility

Volatility by Period

	FSST	FUMB	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.20%	—
Volatility (6M) Calculated over the trailing 6-month period	—	0.54%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	0.76%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	1.16%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	1.77%	—

FSST vs. FUMB - Expense Ratio Comparison

FSST has a 0.59% expense ratio, which is higher than FUMB's 0.45% expense ratio.

Dividends

FSST vs. FUMB - Dividend Comparison

FSST's dividend yield for the trailing twelve months is around 0.14%, less than FUMB's 2.80% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
FSST Fidelity Sustainability U.S. Equity ETF	0.14%	0.19%	2.01%	0.68%	1.00%	0.34%	0.00%	0.00%	0.00%
FUMB First Trust Ultra Short Duration Municipal ETF	2.80%	2.90%	2.86%	2.24%	1.02%	0.43%	0.94%	1.74%	0.15%

Frequently Asked Questions

Can I hold both FSST and FUMB in my portfolio?

FSST and FUMB have a correlation of -0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FSST or FUMB?

On fees, FUMB is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FSST or FUMB?

FUMB is cheaper with a 0.45% expense ratio, compared with 0.59% for FSST.

Which ETF pays a higher dividend yield, FSST or FUMB?

FUMB has the higher dividend yield at 2.80%, compared with 0.14% for FSST.

What is the main difference between FSST and FUMB?

FSST is categorized as Sustainable, while FUMB is Municipal Bonds. They also come from different issuers: Fidelity and First Trust. Their fees differ too: 0.59% for FSST and 0.45% for FUMB.