FUMB vs. ZMUN
FUMB (First Trust Ultra Short Duration Municipal ETF) and ZMUN (F/m Ultrashort Tax-Free Municipal ETF) are both Municipal Bonds funds. FUMB is actively managed, while ZMUN is passively managed. At a 0.15 correlation, their price movements are largely independent. FUMB charges 0.45%/yr vs 0.30%/yr for ZMUN.
Performance
FUMB vs. ZMUN - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, FUMB achieves a 1.30% return, which is significantly lower than ZMUN's 1.78% return.
FUMB
- 1D
- -0.10%
- 1M
- 0.30%
- YTD
- 1.30%
- 6M
- 1.25%
- 1Y
- 2.65%
- 3Y*
- 2.97%
- 5Y*
- 2.01%
- 10Y*
- —
ZMUN
- 1D
- 0.01%
- 1M
- 0.31%
- YTD
- 1.78%
- 6M
- 1.87%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FUMB vs. ZMUN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
FUMB First Trust Ultra Short Duration Municipal ETF | 1.30% | 0.41% |
ZMUN F/m Ultrashort Tax-Free Municipal ETF | 1.78% | 0.67% |
Correlation
The correlation between FUMB and ZMUN is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Sep 30, 2025 | 0.15 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
FUMB vs. ZMUN — Risk / Return Rank
FUMB
ZMUN
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
FUMB vs. ZMUN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Ultra Short Duration Municipal ETF (FUMB) and F/m Ultrashort Tax-Free Municipal ETF (ZMUN). 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.
| FUMB | ZMUN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.77 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 12.17 | — | — |
| Martin ratioReturn relative to average drawdown | 45.58 | — | — |
Loading charts...
Drawdowns
FUMB vs. ZMUN - Drawdown Comparison
The maximum FUMB drawdown since its inception was -2.68%, which is greater than ZMUN's maximum drawdown of -0.10%. Use the drawdown chart below to compare losses from any high point for FUMB and ZMUN.
Loading charts...
Drawdown Indicators
| FUMB | ZMUN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.68% | -0.10% | -2.58% |
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 DrawdownCurrent decline from peak | -0.10% | -0.02% | -0.08% |
Average DrawdownAverage peak-to-trough decline | -0.19% | -0.01% | -0.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.06% | — | — |
Volatility
FUMB vs. ZMUN - Volatility Comparison
Loading charts...
Volatility by Period
| FUMB | ZMUN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.24% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 0.56% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 0.78% | 0.54% | +0.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.17% | 0.54% | +0.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.76% | 0.54% | +1.22% |
FUMB vs. ZMUN - Expense Ratio Comparison
FUMB has a 0.45% expense ratio, which is higher than ZMUN's 0.30% expense ratio.
Dividends
FUMB vs. ZMUN - Dividend Comparison
FUMB's dividend yield for the trailing twelve months is around 2.79%, more than ZMUN's 2.28% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
FUMB First Trust Ultra Short Duration Municipal ETF | 2.79% | 2.90% | 2.86% | 2.24% | 1.02% | 0.43% | 0.94% | 1.74% | 0.15% |
ZMUN F/m Ultrashort Tax-Free Municipal ETF | 2.28% | 0.70% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
FUMB and ZMUN have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ZMUN is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ZMUN is cheaper with a 0.30% expense ratio, compared with 0.45% for FUMB.
FUMB has the higher dividend yield at 2.79%, compared with 2.28% for ZMUN.
They also come from different issuers: First Trust and F/m Investments. Their fees differ too: 0.45% for FUMB and 0.30% for ZMUN.
Find the right allocation for FUMB and ZMUN
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer