FTMN vs. FMUN
FTMN (Franklin Minnesota Municipal Income ETF) and FMUN (Fidelity Systematic Municipal Bond Index ETF) are both Municipal Bonds funds. FTMN is passively managed, while FMUN is actively managed. Their 0.51 correlation means they have sometimes moved together and sometimes differently. FTMN charges 0.35%/yr vs 0.05%/yr for FMUN.
Performance
FTMN vs. FMUN - Performance Comparison
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Returns By Period
In the year-to-date period, FTMN achieves a 0.25% return, which is significantly higher than FMUN's -0.03% return.
FTMN
- 1D
- 0.06%
- 1M
- -2.02%
- 6M
- -0.31%
- YTD
- 0.25%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
FMUN
- 1D
- -0.24%
- 1M
- -2.19%
- 6M
- -0.88%
- YTD
- -0.03%
- 1Y
- 4.46%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 2.46%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $530.62K | $503.69K | $533.19K | |
| $810.73K | $616.08K | $736.86K |
FTMN vs. FMUN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
FTMN Franklin Minnesota Municipal Income ETF | 0.25% | 0.27% |
FMUN Fidelity Systematic Municipal Bond Index ETF | -0.03% | 0.60% |
Correlation
The correlation between FTMN and FMUN is 0.51, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Nov 10, 2025 | 0.51 |
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Return for Risk
FTMN vs. FMUN — Risk / Return Rank
FTMN
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
FMUN
FTMN vs. FMUN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Franklin Minnesota Municipal Income ETF (FTMN) and Fidelity Systematic Municipal Bond Index ETF (FMUN). 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.
| FTMN | FMUN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.34 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 1.61 | — |
| Martin ratioReturn relative to average drawdown | — | 4.97 | — |
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Drawdowns
FTMN vs. FMUN - Drawdown Comparison
The maximum FTMN drawdown since its inception was -3.10%, smaller than the maximum FMUN drawdown of -3.83%. Use the drawdown chart below to compare losses from any high point for FTMN and FMUN.
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Drawdown Indicators
| FTMN | FMUN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.10% | -3.83% | +0.73% |
Max Drawdown (1Y)Largest decline over 1 year | — | -3.21% | — |
Current DrawdownCurrent decline from peak | -2.08% | -2.35% | +0.27% |
Average DrawdownAverage peak-to-trough decline | -0.72% | -1.11% | +0.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 1.04% | — |
Volatility
FTMN vs. FMUN - Volatility Comparison
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Volatility by Period
| FTMN | FMUN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 0.75% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 2.49% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 4.15% | 3.11% | +1.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.15% | 4.03% | +0.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.15% | 4.03% | +0.12% |
FTMN vs. FMUN - Expense Ratio Comparison
FTMN has a 0.35% expense ratio, which is higher than FMUN's 0.05% expense ratio.
Dividends
FTMN vs. FMUN - Dividend Comparison
FTMN's dividend yield for the trailing twelve months is around 2.15%, less than FMUN's 3.35% yield.
| Position | TTM | 2025 |
|---|---|---|
FMUN Fidelity Systematic Municipal Bond Index ETF | 3.35% | 2.41% |
FTMN Franklin Minnesota Municipal Income ETF | 2.15% | 0.50% |
Frequently Asked Questions
FTMN and FMUN have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, FMUN is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
FMUN is cheaper with a 0.05% expense ratio, compared with 0.35% for FTMN.
FMUN has the higher dividend yield at 3.35%, compared with 2.15% for FTMN.
They also come from different issuers: Franklin Templeton and Fidelity. Their fees differ too: 0.35% for FTMN and 0.05% for FMUN.
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