MUB vs. FLTMX
MUB (iShares National AMT-Free Muni Bond ETF) and FLTMX (Fidelity Intermediate Municipal Income Fund) are both Municipal Bonds funds. Over the past 10 years, MUB returned 2.01%/yr vs 2.18%/yr for FLTMX. A 0.56 correlation means they provide meaningful diversification when combined. MUB charges 0.07%/yr vs 0.32%/yr for FLTMX.
Performance
MUB vs. FLTMX - Performance Comparison
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Returns By Period
In the year-to-date period, MUB achieves a 1.41% return, which is significantly higher than FLTMX's 0.90% return. Over the past 10 years, MUB has underperformed FLTMX with an annualized return of 2.01%, while FLTMX has yielded a comparatively higher 2.18% annualized return.
MUB
- 1D
- 0.17%
- 1M
- 0.66%
- YTD
- 1.41%
- 6M
- 1.92%
- 1Y
- 6.87%
- 3Y*
- 3.41%
- 5Y*
- 0.89%
- 10Y*
- 2.01%
FLTMX
- 1D
- 0.00%
- 1M
- 0.55%
- YTD
- 0.90%
- 6M
- 1.26%
- 1Y
- 5.93%
- 3Y*
- 3.97%
- 5Y*
- 1.29%
- 10Y*
- 2.18%
MUB vs. FLTMX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MUB iShares National AMT-Free Muni Bond ETF | 1.41% | 3.78% | 1.26% | 5.56% | -7.34% | 1.02% | 5.12% | 7.06% | 0.93% | 4.72% |
FLTMX Fidelity Intermediate Municipal Income Fund | 0.90% | 6.02% | 1.19% | 5.52% | -6.92% | 0.83% | 4.36% | 6.34% | 1.89% | 4.50% |
Correlation
The correlation between MUB and FLTMX is 0.65, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.65 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.69 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.69 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.65 |
Correlation (All Time) Calculated using the full available price history since Sep 11, 2007 | 0.56 |
The correlation between MUB and FLTMX shifts across timeframes, from 0.56 (all time) to 0.69 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
MUB vs. FLTMX — Risk / Return Rank
MUB
FLTMX
MUB vs. FLTMX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares National AMT-Free Muni Bond ETF (MUB) and Fidelity Intermediate Municipal Income Fund (FLTMX). 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.
| MUB | FLTMX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.34 | ||
| Sortino ratioReturn per unit of downside risk | -0.70 | ||
| Omega ratioGain probability vs. loss probability | 1.50 | 1.72 | -0.23 |
| Calmar ratioReturn relative to maximum drawdown | 2.48 | 2.08 | +0.40 |
| Martin ratioReturn relative to average drawdown | 8.74 | 6.57 | +2.17 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| MUB | FLTMX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.37 | 2.71 | -0.34 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.22 | 0.42 | -0.20 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.41 | 0.68 | -0.27 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.59 | 1.36 | -0.78 |
Drawdowns
MUB vs. FLTMX - Drawdown Comparison
The maximum MUB drawdown since its inception was -13.68%, smaller than the maximum FLTMX drawdown of -16.13%. Use the drawdown chart below to compare losses from any high point for MUB and FLTMX.
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Drawdown Indicators
| MUB | FLTMX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.68% | -16.13% | +2.45% |
Max Drawdown (1Y)Largest decline over 1 year | -2.79% | -2.97% | +0.18% |
Max Drawdown (3Y)Largest decline over 3 years | -5.34% | -3.88% | -1.46% |
Max Drawdown (5Y)Largest decline over 5 years | -11.88% | -10.91% | -0.97% |
Max Drawdown (10Y)Largest decline over 10 years | -13.68% | -10.91% | -2.77% |
Current DrawdownCurrent decline from peak | -0.53% | -1.09% | +0.56% |
Average DrawdownAverage peak-to-trough decline | -2.23% | -1.64% | -0.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.79% | 0.94% | -0.15% |
Volatility
MUB vs. FLTMX - Volatility Comparison
iShares National AMT-Free Muni Bond ETF (MUB) has a higher volatility of 0.98% compared to Fidelity Intermediate Municipal Income Fund (FLTMX) at 0.88%. This indicates that MUB's price experiences larger fluctuations and is considered to be riskier than FLTMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MUB | FLTMX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.98% | 0.88% | +0.10% |
Volatility (6M)Calculated over the trailing 6-month period | 2.22% | 1.81% | +0.41% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.92% | 2.28% | +0.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.06% | 3.05% | +1.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.92% | 3.24% | +1.68% |
MUB vs. FLTMX - Expense Ratio Comparison
MUB has a 0.07% expense ratio, which is lower than FLTMX's 0.32% expense ratio.
Dividends
MUB vs. FLTMX - Dividend Comparison
MUB's dividend yield for the trailing twelve months is around 3.17%, more than FLTMX's 2.88% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FLTMX Fidelity Intermediate Municipal Income Fund | 2.88% | 3.70% | 2.47% | 2.42% | 1.36% | 1.67% | 2.00% | 2.39% | 3.31% | 2.64% | 3.20% | 2.36% |
MUB iShares National AMT-Free Muni Bond ETF | 3.17% | 3.14% | 3.01% | 2.65% | 2.11% | 1.81% | 2.11% | 2.42% | 2.46% | 2.26% | 2.21% | 2.51% |
Frequently Asked Questions
MUB and FLTMX have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MUB has higher volatility (0.98%) compared to FLTMX (0.88%). In terms of maximum drawdown, MUB dropped -13.68% vs FLTMX's -16.13%.
FLTMX currently has the higher Sharpe Ratio (2.71 vs 2.37), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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