XLUI vs. FSMB

Last updated Jun 5, 2026

XLUI (State Street Utilities Select Sector SPDR Premium Income ETF) and FSMB (First Trust Short Duration Managed Municipal ETF) are both exchange-traded funds - XLUI is a Utilities Equities fund actively managed by State Street, while FSMB is a Municipal Bonds fund actively managed by First Trust. Both are actively managed. At a 0.00 correlation, their price movements are largely independent. XLUI charges 0.35%/yr vs 0.45%/yr for FSMB.

Performance

XLUI vs. FSMB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in State Street Utilities Select Sector SPDR Premium Income ETF (XLUI) and First Trust Short Duration Managed Municipal ETF (FSMB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XLUI achieves a 5.42% return, which is significantly higher than FSMB's 1.13% return.

XLUI

• 1D: 0.41%
• 1M: -3.64%
• YTD: 5.42%
• 6M: 4.31%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

FSMB

• 1D: -0.02%
• 1M: 0.42%
• YTD: 1.13%
• 6M: 1.42%
• 1Y: 4.08%
• 3Y*: 3.52%
• 5Y*: 1.51%
• 10Y*: —

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

XLUI vs. FSMB - Yearly Performance Comparison

	2026 (YTD)	2025
XLUI State Street Utilities Select Sector SPDR Premium Income ETF	5.42%	0.51%
FSMB First Trust Short Duration Managed Municipal ETF	1.13%	1.92%

Correlation

The correlation between XLUI and FSMB is 0.00, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 31, 2025	0.00

Return for Risk

XLUI vs. FSMB — Risk / Return Rank

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

FSMB

FSMB Risk / Return Rank: 80
FSMB Sharpe Ratio Rank: 88
FSMB Sortino Ratio Rank: 92
FSMB Omega Ratio Rank: 92
FSMB Calmar Ratio Rank: 65
FSMB Martin Ratio Rank: 61

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.

XLUI vs. FSMB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street Utilities Select Sector SPDR Premium Income ETF (XLUI) and First Trust Short Duration Managed Municipal ETF (FSMB). 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.

Sharpe Ratios by Period

	XLUI	FSMB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.92	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.77	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.64	0.75	-0.11

Drawdowns

XLUI vs. FSMB - Drawdown Comparison

The maximum XLUI drawdown since its inception was -6.01%, roughly equal to the maximum FSMB drawdown of -6.32%. Use the drawdown chart below to compare losses from any high point for XLUI and FSMB.

Drawdown Indicators

	XLUI	FSMB	Difference
Max Drawdown Largest peak-to-trough decline	-6.01%	-6.32%	+0.31%
Max Drawdown (1Y) Largest decline over 1 year	—	-1.29%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-1.76%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-5.97%	—
Current Drawdown Current decline from peak	-4.21%	-0.27%	-3.94%
Average Drawdown Average peak-to-trough decline	-1.93%	-1.16%	-0.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.38%	—

Volatility

Volatility by Period

	XLUI	FSMB	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.43%	—
Volatility (6M) Calculated over the trailing 6-month period	—	1.02%	—
Volatility (1Y) Calculated over the trailing 1-year period	11.10%	1.40%	+9.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.10%	1.96%	+9.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.10%	2.92%	+8.18%

XLUI vs. FSMB - Expense Ratio Comparison

XLUI has a 0.35% expense ratio, which is lower than FSMB's 0.45% expense ratio.

Dividends

XLUI vs. FSMB - Dividend Comparison

XLUI's dividend yield for the trailing twelve months is around 12.76%, more than FSMB's 3.14% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
FSMB First Trust Short Duration Managed Municipal ETF	3.14%	3.09%	2.88%	2.40%	1.47%	1.20%	1.79%	2.27%	0.19%
XLUI State Street Utilities Select Sector SPDR Premium Income ETF	12.76%	7.12%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both XLUI and FSMB in my portfolio?

XLUI and FSMB have a correlation of 0.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, XLUI or FSMB?

On fees, XLUI is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XLUI or FSMB?

XLUI is cheaper with a 0.35% expense ratio, compared with 0.45% for FSMB.

Which ETF pays a higher dividend yield, XLUI or FSMB?

XLUI has the higher dividend yield at 12.76%, compared with 3.14% for FSMB.

What is the main difference between XLUI and FSMB?

XLUI is categorized as Utilities Equities, while FSMB is Municipal Bonds. They also come from different issuers: State Street and First Trust. Their fees differ too: 0.35% for XLUI and 0.45% for FSMB.