RJMI vs. FMUN
RJMI (RJ Eagle Municipal Income ETF) and FMUN (Fidelity Systematic Municipal Bond Index ETF) are both Municipal Bonds funds. Both are actively managed. A 0.67 correlation means they provide meaningful diversification when combined. RJMI charges 0.41%/yr vs 0.05%/yr for FMUN.
Performance
RJMI vs. FMUN - Performance Comparison
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Returns By Period
In the year-to-date period, RJMI achieves a 1.72% return, which is significantly higher than FMUN's 1.63% return.
RJMI
- 1D
- 0.08%
- 1M
- 0.91%
- YTD
- 1.72%
- 6M
- 2.45%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FMUN
- 1D
- -0.06%
- 1M
- 0.90%
- YTD
- 1.63%
- 6M
- 2.20%
- 1Y
- 7.24%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
RJMI vs. FMUN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
RJMI RJ Eagle Municipal Income ETF | 1.72% | 2.82% |
FMUN Fidelity Systematic Municipal Bond Index ETF | 1.63% | 1.59% |
Correlation
The correlation between RJMI and FMUN is 0.67, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Oct 3, 2025 | 0.67 |
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Return for Risk
RJMI vs. FMUN — Risk / Return Rank
RJMI
FMUN
RJMI vs. FMUN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for RJ Eagle Municipal Income ETF (RJMI) 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.
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
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Sharpe Ratios by Period
| RJMI | FMUN | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | — | 2.34 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 2.27 | 1.27 | +1.01 |
Drawdowns
RJMI vs. FMUN - Drawdown Comparison
The maximum RJMI drawdown since its inception was -3.04%, smaller than the maximum FMUN drawdown of -3.21%. Use the drawdown chart below to compare losses from any high point for RJMI and FMUN.
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Drawdown Indicators
| RJMI | FMUN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.04% | -3.21% | +0.17% |
Max Drawdown (1Y)Largest decline over 1 year | — | -3.21% | — |
Current DrawdownCurrent decline from peak | -0.52% | -0.72% | +0.20% |
Average DrawdownAverage peak-to-trough decline | -0.66% | -0.82% | +0.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.97% | — |
Volatility
RJMI vs. FMUN - Volatility Comparison
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Volatility by Period
| RJMI | FMUN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 1.27% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 2.27% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 3.07% | 3.12% | -0.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.07% | 4.06% | -0.99% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.07% | 4.06% | -0.99% |
RJMI vs. FMUN - Expense Ratio Comparison
RJMI has a 0.41% expense ratio, which is higher than FMUN's 0.05% expense ratio.
Dividends
RJMI vs. FMUN - Dividend Comparison
RJMI's dividend yield for the trailing twelve months is around 1.95%, less than FMUN's 3.29% yield.
| Position | TTM | 2025 |
|---|---|---|
FMUN Fidelity Systematic Municipal Bond Index ETF | 3.29% | 2.41% |
RJMI RJ Eagle Municipal Income ETF | 1.95% | 0.61% |
Frequently Asked Questions
RJMI and FMUN have a correlation of 0.67, 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 0.41% for RJMI.
FMUN has the higher dividend yield at 3.29%, compared with 1.95% for RJMI.
They also come from different issuers: Carillon Tower Advisers and Fidelity. Their fees differ too: 0.41% for RJMI and 0.05% for FMUN.
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