WTMU vs. FMUN

Last updated Aug 4, 2026

WTMU (WisdomTree Core Laddered Municipal ETF) and FMUN (Fidelity Systematic Municipal Bond Index ETF) are both Municipal Bonds funds. Both are actively managed. Over the past year, WTMU returned 3.23% vs 4.69% for FMUN. Their 0.57 correlation means they have sometimes moved together and sometimes differently. WTMU charges 0.25%/yr vs 0.05%/yr for FMUN.

Performance

WTMU vs. FMUN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree Core Laddered Municipal ETF (WTMU) and Fidelity Systematic Municipal Bond Index ETF (FMUN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, WTMU achieves a -0.52% return, which is significantly lower than FMUN's 0.18% return.

WTMU

• 1D: 0.22%
• 1M: -1.07%
• 6M: -1.35%
• YTD: -0.52%
• 1Y: 3.23%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 3.32%

FMUN

• 1D: 0.21%
• 1M: -1.98%
• 6M: -0.70%
• YTD: 0.18%
• 1Y: 4.69%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 2.61%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FMUN Fidelity Systematic Municipal Bond Index ETF	$554.30K	$508.70K	$540.71K
WTMU WisdomTree Core Laddered Municipal ETF	$17.49K	$9.91K	$38.76K

WTMU vs. FMUN - Yearly Performance Comparison

	2026 (YTD)	2025
WTMU WisdomTree Core Laddered Municipal ETF	-0.52%	4.82%
FMUN Fidelity Systematic Municipal Bond Index ETF	0.18%	3.28%

Correlation

The correlation between WTMU and FMUN is 0.56, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.56
Correlation (All Time) Calculated using the full available price history since Apr 7, 2025	0.57

The correlation between WTMU and FMUN has been stable across timeframes, ranging from 0.56 to 0.57 - a consistent structural relationship.

Return for Risk

WTMU vs. FMUN — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

WTMU

WTMU Risk / Return Rank: 42
WTMU Sharpe Ratio Rank: 49
WTMU Sortino Ratio Rank: 45
WTMU Omega Ratio Rank: 55
WTMU Calmar Ratio Rank: 31
WTMU Martin Ratio Rank: 30

FMUN

FMUN Risk / Return Rank: 56
FMUN Sharpe Ratio Rank: 64
FMUN Sortino Ratio Rank: 62
FMUN Omega Ratio Rank: 72
FMUN Calmar Ratio Rank: 40
FMUN Martin Ratio Rank: 41

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

WTMU vs. FMUN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree Core Laddered Municipal ETF (WTMU) 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.

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.

	WTMU	FMUN	Difference
Sharpe ratio: Return per unit of total volatility	1.35	1.55	-0.20
Sortino ratio: Return per unit of downside risk	1.82	2.16	-0.33
Omega ratio: Gain probability vs. loss probability	1.27	1.31	-0.04
Calmar ratio: Return relative to maximum drawdown	1.13	1.47	-0.34
Martin ratio: Return relative to average drawdown	2.72	4.49	-1.76

WTMU vs. FMUN - Sharpe Ratio Comparison

The current WTMU Sharpe Ratio is 1.35, which is comparable to the FMUN Sharpe Ratio of 1.55. The chart below compares the historical Sharpe Ratios of WTMU and FMUN, 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

WTMU vs. FMUN - Drawdown Comparison

The maximum WTMU drawdown since its inception was -4.24%, which is greater than FMUN's maximum drawdown of -3.83%. Use the drawdown chart below to compare losses from any high point for WTMU and FMUN.

Drawdown Indicators

	WTMU	FMUN	Difference
Max Drawdown Largest peak-to-trough decline	-4.24%	-3.83%	-0.41%
Max Drawdown (1Y) Largest decline over 1 year	-2.86%	-3.21%	+0.35%
Current Drawdown Current decline from peak	-2.46%	-2.14%	-0.32%
Average Drawdown Average peak-to-trough decline	-0.77%	-1.11%	+0.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.19%	1.05%	+0.14%

Volatility

WTMU vs. FMUN - Volatility Comparison

WisdomTree Core Laddered Municipal ETF (WTMU) has a higher volatility of 1.12% compared to Fidelity Systematic Municipal Bond Index ETF (FMUN) at 0.79%. This indicates that WTMU's price experiences larger fluctuations and is considered to be riskier than FMUN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WTMU	FMUN	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.12%	0.79%	+0.33%
Volatility (6M) Calculated over the trailing 6-month period	2.08%	2.50%	-0.42%
Volatility (1Y) Calculated over the trailing 1-year period	2.41%	3.05%	-0.64%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.58%	4.03%	+0.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.58%	4.03%	+0.55%

WTMU vs. FMUN - Expense Ratio Comparison

WTMU has a 0.25% 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%.

Dividends

WTMU vs. FMUN - Dividend Comparison

WTMU's dividend yield for the trailing twelve months is around 3.23%, less than FMUN's 3.34% yield.

Position	TTM	2025
FMUN Fidelity Systematic Municipal Bond Index ETF	3.34%	2.41%
WTMU WisdomTree Core Laddered Municipal ETF	3.23%	2.15%

Frequently Asked Questions

Can I hold both WTMU and FMUN in my portfolio?

WTMU and FMUN have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, WTMU or FMUN?

WTMU has higher volatility (1.12%) compared to FMUN (0.79%). In terms of maximum drawdown, WTMU dropped -4.24% vs FMUN's -3.83%.

Which ETF is better, WTMU or FMUN?

On 1-year performance, FMUN leads with 4.69% vs 3.23% for WTMU. On fees, FMUN is cheaper at 0.05% per year. On volatility, FMUN has been the lower-risk option at 0.79%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, WTMU or FMUN?

Over the 1-year period, FMUN has performed better with a 4.69% return vs 3.23%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, WTMU or FMUN?

FMUN is cheaper with a 0.05% expense ratio, compared with 0.25% for WTMU.

Which ETF pays a higher dividend yield, WTMU or FMUN?

FMUN has the higher dividend yield at 3.34%, compared with 3.23% for WTMU.

What is the main difference between WTMU and FMUN?

They also come from different issuers: WisdomTree and Fidelity. Their fees differ too: 0.25% for WTMU and 0.05% for FMUN.

Which has better risk-adjusted returns?

FMUN currently has the higher Sharpe Ratio (1.55 vs 1.35), 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.