XLEI vs. FMUB

Last updated Aug 2, 2026

XLEI (State Street Energy Select Sector SPDR Premium Income ETF) and FMUB (Fidelity Municipal Bond Opportunities ETF) are both exchange-traded funds - XLEI is a Energy Equities fund tracking the S&P Energy Select Sector, while FMUB is a Municipal Bonds fund actively managed by Fidelity. XLEI is passively managed, while FMUB is actively managed. Over the past year, XLEI returned 35.36% vs 4.81% for FMUB. Their -0.30 correlation means they have often moved in opposite directions in the past. XLEI charges 0.35%/yr vs 0.30%/yr for FMUB.

Performance

XLEI vs. FMUB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in State Street Energy Select Sector SPDR Premium Income ETF (XLEI) 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, XLEI achieves a 24.56% return, which is significantly higher than FMUB's 0.94% return.

XLEI

• 1D: 0.78%
• 1M: 10.90%
• 6M: 15.89%
• YTD: 24.56%
• 1Y: 35.36%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 32.17%

FMUB

• 1D: -0.13%
• 1M: -1.59%
• 6M: 0.32%
• YTD: 0.94%
• 1Y: 4.81%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 4.29%

*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)
FMUB Fidelity Municipal Bond Opportunities ETF	$1.86M	$2.43M	$1.70M
XLEI State Street Energy Select Sector SPDR Premium Income ETF	$1.55M	$1.39M	$1.31M

XLEI vs. FMUB - Yearly Performance Comparison

	2026 (YTD)	2025
XLEI State Street Energy Select Sector SPDR Premium Income ETF	24.56%	6.17%
FMUB Fidelity Municipal Bond Opportunities ETF	0.94%	4.50%

Correlation

The correlation between XLEI and FMUB is -0.31, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.31
Correlation (All Time) Calculated using the full available price history since Jul 30, 2025	-0.30

Return for Risk

XLEI vs. FMUB — Risk / Return Rank

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

XLEI

XLEI Risk / Return Rank: 89
XLEI Sharpe Ratio Rank: 92
XLEI Sortino Ratio Rank: 88
XLEI Omega Ratio Rank: 89
XLEI Calmar Ratio Rank: 91
XLEI Martin Ratio Rank: 86

FMUB

FMUB Risk / Return Rank: 76
FMUB Sharpe Ratio Rank: 84
FMUB Sortino Ratio Rank: 84
FMUB Omega Ratio Rank: 88
FMUB Calmar Ratio Rank: 61
FMUB Martin Ratio Rank: 65

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.

XLEI vs. FMUB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street Energy Select Sector SPDR Premium Income ETF (XLEI) 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.

	XLEI	FMUB	Difference
Sharpe ratio: Return per unit of total volatility	2.40	1.96	+0.44
Sortino ratio: Return per unit of downside risk	3.00	2.75	+0.24
Omega ratio: Gain probability vs. loss probability	1.41	1.40	+0.01
Calmar ratio: Return relative to maximum drawdown	4.11	2.14	+1.97
Martin ratio: Return relative to average drawdown	12.37	7.91	+4.46

XLEI vs. FMUB - Sharpe Ratio Comparison

The current XLEI Sharpe Ratio is 2.40, which is comparable to the FMUB Sharpe Ratio of 1.96. The chart below compares the historical Sharpe Ratios of XLEI 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

XLEI vs. FMUB - Drawdown Comparison

The maximum XLEI drawdown since its inception was -8.19%, which is greater than FMUB's maximum drawdown of -2.74%. Use the drawdown chart below to compare losses from any high point for XLEI and FMUB.

Drawdown Indicators

	XLEI	FMUB	Difference
Max Drawdown Largest peak-to-trough decline	-8.19%	-2.74%	-5.45%
Max Drawdown (1Y) Largest decline over 1 year	-8.19%	-2.49%	-5.70%
Current Drawdown Current decline from peak	0.00%	-1.62%	+1.62%
Average Drawdown Average peak-to-trough decline	-1.84%	-0.48%	-1.36%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.74%	0.67%	+2.07%

Volatility

XLEI vs. FMUB - Volatility Comparison

State Street Energy Select Sector SPDR Premium Income ETF (XLEI) has a higher volatility of 3.96% compared to Fidelity Municipal Bond Opportunities ETF (FMUB) at 0.86%. This indicates that XLEI'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

	XLEI	FMUB	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.96%	0.86%	+3.10%
Volatility (6M) Calculated over the trailing 6-month period	11.26%	2.19%	+9.07%
Volatility (1Y) Calculated over the trailing 1-year period	14.03%	2.75%	+11.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.02%	3.59%	+10.43%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.02%	3.59%	+10.43%

XLEI vs. FMUB - Expense Ratio Comparison

XLEI has a 0.35% expense ratio, which is higher than FMUB's 0.30% expense ratio.

Dividends

XLEI vs. FMUB - Dividend Comparison

XLEI's dividend yield for the trailing twelve months is around 18.37%, more than FMUB's 3.55% yield.

Position	TTM	2025
FMUB Fidelity Municipal Bond Opportunities ETF	3.55%	2.63%
XLEI State Street Energy Select Sector SPDR Premium Income ETF	18.37%	10.17%

Frequently Asked Questions

Can I hold both XLEI and FMUB in my portfolio?

XLEI and FMUB have a correlation of -0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XLEI or FMUB?

XLEI has higher volatility (3.96%) compared to FMUB (0.86%). In terms of maximum drawdown, XLEI dropped -8.19% vs FMUB's -2.74%.

Which ETF is better, XLEI or FMUB?

On 1-year performance, XLEI leads with 35.36% vs 4.81% for FMUB. On fees, FMUB is cheaper at 0.30% per year. On volatility, FMUB has been the lower-risk option at 0.86%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XLEI or FMUB?

Over the 1-year period, XLEI has performed better with a 35.36% return vs 4.81%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XLEI or FMUB?

FMUB is cheaper with a 0.30% expense ratio, compared with 0.35% for XLEI.

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

XLEI has the higher dividend yield at 18.37%, compared with 3.55% for FMUB.

What is the main difference between XLEI and FMUB?

XLEI is categorized as Energy Equities, while FMUB is Municipal Bonds. They also come from different issuers: State Street and Fidelity. Their fees differ too: 0.35% for XLEI and 0.30% for FMUB.

Which has better risk-adjusted returns?

XLEI currently has the higher Sharpe Ratio (2.40 vs 1.96), 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.