VTEL vs. FMUN
Compare and contrast key facts about Vanguard Long-Term Tax-Exempt Bond ETF (VTEL) and Fidelity Systematic Municipal Bond Index ETF (FMUN).
VTEL and FMUN are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. VTEL is a passively managed fund by Vanguard that tracks the performance of the S&P 10+ Year National AMT-Free Municipal Bond Index. It was launched on May 20, 2025. FMUN is an actively managed fund by Fidelity. It was launched on Jul 11, 2019.
Performance
VTEL vs. FMUN - Performance Comparison
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VTEL vs. FMUN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
VTEL Vanguard Long-Term Tax-Exempt Bond ETF | -0.47% | 6.66% |
FMUN Fidelity Systematic Municipal Bond Index ETF | -0.40% | 6.12% |
Returns By Period
In the year-to-date period, VTEL achieves a -0.47% return, which is significantly lower than FMUN's -0.40% return.
VTEL
- 1D
- 0.40%
- 1M
- -2.49%
- YTD
- -0.47%
- 6M
- 1.53%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FMUN
- 1D
- 0.22%
- 1M
- -2.71%
- YTD
- -0.40%
- 6M
- 1.25%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
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VTEL vs. FMUN - Expense Ratio Comparison
VTEL has a 0.09% expense ratio, which is higher than FMUN's 0.05% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Return for Risk
VTEL vs. FMUN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Long-Term Tax-Exempt Bond ETF (VTEL) 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
| VTEL | FMUN | Difference | |
|---|---|---|---|
Sharpe Ratio (All Time)Calculated using the full available price history | 1.93 | 0.95 | +0.99 |
Correlation
The correlation between VTEL and FMUN is 0.77, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
VTEL vs. FMUN - Dividend Comparison
VTEL's dividend yield for the trailing twelve months is around 2.88%, less than FMUN's 3.25% yield.
| TTM | 2025 | |
|---|---|---|
VTEL Vanguard Long-Term Tax-Exempt Bond ETF | 2.88% | 2.23% |
FMUN Fidelity Systematic Municipal Bond Index ETF | 3.25% | 2.41% |
Drawdowns
VTEL vs. FMUN - Drawdown Comparison
The maximum VTEL drawdown since its inception was -3.22%, roughly equal to the maximum FMUN drawdown of -3.21%. Use the drawdown chart below to compare losses from any high point for VTEL and FMUN.
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Drawdown Indicators
| VTEL | FMUN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.22% | -3.21% | -0.01% |
Current DrawdownCurrent decline from peak | -2.49% | -2.71% | +0.22% |
Average DrawdownAverage peak-to-trough decline | -0.49% | -0.67% | +0.18% |
Volatility
VTEL vs. FMUN - Volatility Comparison
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Volatility by Period
| VTEL | FMUN | Difference | |
|---|---|---|---|
Volatility (1Y)Calculated over the trailing 1-year period | 3.78% | 4.16% | -0.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.78% | 4.16% | -0.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.78% | 4.16% | -0.38% |