VDE vs. FMUB

Last updated Jul 12, 2026

VDE (Vanguard Energy ETF) and FMUB (Fidelity Municipal Bond Opportunities ETF) are both exchange-traded funds - VDE is a Energy Equities fund tracking the MSCI US Investable Market Energy 25/50 Index, while FMUB is a Municipal Bonds fund actively managed by Fidelity. VDE is passively managed, while FMUB is actively managed. Over the past year, VDE returned 27.93% vs 7.03% for FMUB. At a correlation of -0.18, they often move in opposite directions. VDE charges 0.09%/yr vs 0.30%/yr for FMUB.

Performance

VDE vs. FMUB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Energy ETF (VDE) and Fidelity Municipal Bond Opportunities ETF (FMUB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VDE achieves a 25.04% return, which is significantly higher than FMUB's 2.36% return.

VDE

• 1D: 0.45%
• 1M: -3.57%
• 6M: 20.00%
• YTD: 25.04%
• 1Y: 27.93%
• 3Y*: 13.67%
• 5Y*: 20.00%
• 10Y*: 8.55%

FMUB

• 1D: 0.08%
• 1M: 0.61%
• 6M: 1.73%
• YTD: 2.36%
• 1Y: 7.03%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

VDE vs. FMUB - Yearly Performance Comparison

	2026 (YTD)	2025
VDE Vanguard Energy ETF	25.04%	17.93%
FMUB Fidelity Municipal Bond Opportunities ETF	2.36%	4.69%

Correlation

The correlation between VDE and FMUB is -0.27, 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	-0.27
Correlation (All Time) Calculated using the full available price history since Apr 7, 2025	-0.18

Return for Risk

VDE vs. FMUB — Risk / Return Rank

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

VDE

VDE Risk / Return Rank: 46
VDE Sharpe Ratio Rank: 50
VDE Sortino Ratio Rank: 47
VDE Omega Ratio Rank: 44
VDE Calmar Ratio Rank: 47
VDE Martin Ratio Rank: 41

FMUB

FMUB Risk / Return Rank: 84
FMUB Sharpe Ratio Rank: 92
FMUB Sortino Ratio Rank: 93
FMUB Omega Ratio Rank: 94
FMUB Calmar Ratio Rank: 68
FMUB Martin Ratio Rank: 74

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.

VDE vs. FMUB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Energy ETF (VDE) and Fidelity Municipal Bond Opportunities ETF (FMUB). 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.

	VDE	FMUB	Difference
Sharpe ratio: Return per unit of total volatility	1.39	2.55	-1.16
Sortino ratio: Return per unit of downside risk	1.90	3.69	-1.79
Omega ratio: Gain probability vs. loss probability	1.23	1.54	-0.31
Calmar ratio: Return relative to maximum drawdown	1.91	2.73	-0.82
Martin ratio: Return relative to average drawdown	5.26	10.96	-5.69

VDE vs. FMUB - Sharpe Ratio Comparison

The current VDE Sharpe Ratio is 1.39, which is lower than the FMUB Sharpe Ratio of 2.55. The chart below compares the historical Sharpe Ratios of VDE and FMUB, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

VDE vs. FMUB - Drawdown Comparison

The maximum VDE drawdown since its inception was -74.20%, which is greater than FMUB's maximum drawdown of -2.74%. Use the drawdown chart below to compare losses from any high point for VDE and FMUB.

Drawdown Indicators

	VDE	FMUB	Difference
Max Drawdown Largest peak-to-trough decline	-74.20%	-2.74%	-71.46%
Max Drawdown (1Y) Largest decline over 1 year	-15.04%	-2.49%	-12.55%
Max Drawdown (3Y) Largest decline over 3 years	-21.41%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-26.58%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-69.29%	—	—
Current Drawdown Current decline from peak	-11.53%	-0.24%	-11.29%
Average Drawdown Average peak-to-trough decline	-19.92%	-0.46%	-19.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.45%	0.63%	+4.82%

Volatility

VDE vs. FMUB - Volatility Comparison

Vanguard Energy ETF (VDE) has a higher volatility of 6.70% compared to Fidelity Municipal Bond Opportunities ETF (FMUB) at 0.70%. This indicates that VDE's price experiences larger fluctuations and is considered to be riskier than FMUB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VDE	FMUB	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.70%	0.70%	+6.00%
Volatility (6M) Calculated over the trailing 6-month period	16.58%	2.08%	+14.50%
Volatility (1Y) Calculated over the trailing 1-year period	20.71%	2.67%	+18.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.29%	3.59%	+22.70%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.90%	3.59%	+26.31%

VDE vs. FMUB - Expense Ratio Comparison

VDE has a 0.09% expense ratio, which is lower than FMUB's 0.30% expense ratio.

Dividends

VDE vs. FMUB - Dividend Comparison

VDE's dividend yield for the trailing twelve months is around 2.59%, less than FMUB's 3.49% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FMUB Fidelity Municipal Bond Opportunities ETF	3.49%	2.63%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VDE Vanguard Energy ETF	2.59%	3.11%	3.23%	3.34%	3.65%	4.13%	4.76%	3.42%	3.35%	2.90%	2.31%	3.17%

Frequently Asked Questions

Can I hold both VDE and FMUB in my portfolio?

VDE and FMUB have a correlation of -0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VDE or FMUB?

VDE has higher volatility (6.70%) compared to FMUB (0.70%). In terms of maximum drawdown, VDE dropped -74.20% vs FMUB's -2.74%.

Which ETF is better, VDE or FMUB?

On 1-year performance, VDE leads with 27.93% vs 7.03% for FMUB. On fees, VDE is cheaper at 0.09% per year. On volatility, FMUB has been the lower-risk option at 0.70%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VDE or FMUB?

Over the 1-year period, VDE has performed better with a 27.93% return vs 7.03%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VDE or FMUB?

VDE is cheaper with a 0.09% expense ratio, compared with 0.30% for FMUB.

Which ETF pays a higher dividend yield, VDE or FMUB?

FMUB has the higher dividend yield at 3.49%, compared with 2.59% for VDE.

What is the main difference between VDE and FMUB?

VDE is categorized as Energy Equities, while FMUB is Municipal Bonds. They also come from different issuers: Vanguard and Fidelity. Their fees differ too: 0.09% for VDE and 0.30% for FMUB.

Which has better risk-adjusted returns?

FMUB currently has the higher Sharpe Ratio (2.55 vs 1.39), 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.