CEFSvsFMUBETF Comparison
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Saba Closed-End Funds ETF (CEFS) belongs to the Multi-Asset: Other segment. Fidelity Municipal Bond Opportunities ETF (FMUB) is part of the Municipal Bonds segment. CEFS's top 2 sector exposures are Non-Corporate and Finance. In contrast, FMUB's top sector exposures are Municipal and Non-Corporate. CEFS is more expensive with a Total Expense Ratio (TER) of 2.61%, versus 0.3% for FMUB. CEFS is up 17.21% year-to-date (YTD) with +$34M in YTD flows. FMUB performs worse with 1.04% YTD performance, and +$114M in YTD flows. Run a side-by-side ETF comparison of CEFS and FMUB below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
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CEFS vs FMUB performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 08/31/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | CEFS FMUB | +3.12%+0.15% | +1.42%-0.58% | +17.21%+1.04% | +22.48%+4.63% | +77.60%n/a | +92.90%n/a |
| Flows | CEFS FMUB | +$3M+$17M | +$18M+$51M | +$34M+$114M | +$76M+$139M | +$227M- | +$282M- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | CEFS FMUB | +10.62%+2.32% | +9.18%+2.33% | +10.55%n/a | +12.21%n/a |
| Max drawdown | CEFS FMUB | -4.11%-1.76% | -4.75%-2.57% | -12.48%n/a | -16.51%n/a |
| Max drawdown duration | CEFS FMUB | 51d56d | 41d115d | 104dn/a | 436dn/a |
Trading data
CEFS | FMUB | |
Last sale 9/1/2026 at 1:30 PM | $25.25 | $49.84 |
| Previous close 08/31/2026 | $25.29 | $50.05 |
| Consolidated volume 08/31/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
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Main metrics
Last update 9/1/2026 at 1:30 PM
Live
Closed
CEFS | FMUB | |
|---|---|---|
| Last price | $25.25 | $49.84 |
| 1D performance | -0.16% | -0.41% |
| AuM | $438.21 M | $259.39 M |
| E/R | 2.61% | 0.3% |
Characteristics
CEFS | FMUB | |
|---|---|---|
| Management strategy | Active | Active |
| Provider | Saba Capital | Fidelity |
| Benchmark | - | - |
| N° of holdings | 24 | 163 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | March 21, 2017 | April 8, 2025 |
| ESG | No | No |
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Exposure
Countries
CEFS
USA
35.86%
Other
64.14%
FMUB
USA
37.88%
Other
62.12%
Sectors
CEFS
Non-Corporate
35.41%
Other
64.59%
FMUB
Municipal
27.48%
Non-Corporate
10.4%
Other
62.12%
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Diversification
CEFS
Total weight of top 15 holdings out of 15
58.26%
FMUB
Total weight of top 15 holdings out of 15
21.9%
Top 15 holdings
Data as of July 31, 2026
CEFS
US09260K1016
11.41%
Virtus Dividend Interest & Premium Strategy Fund
6.95%
ASA Gold & Precious Metals Ltd.
6.61%
BlackRock ESG Capital Allocation Term Trust
4.82%
US7809151043
3.58%
US36242H1041
3.24%
US3688021043
2.91%
PIMCO Dynamic Income Strategy Fund
2.90%
Neuberger Next Generation Connectivity Fund Inc.
2.57%
US6706EW1000
2.51%
US64129H1041
2.39%
US92835W1071
2.25%
US5928351023
2.16%
BlackRock Technology & Private Equity Term Trust
2.05%
US8954361031
1.89%
FMUB
Fidelity Municipal Cash Central Fund
10.40%
US54659LDS07
1.78%
Black Belt Energy Gas District, 5% 1jun2031, USD (2026)
0.98%
US56035DJJ28
0.86%
US23503CFM47
0.82%
US64987KDJ43
0.80%
San Antonio Electric and Gas Systems, FRN 1feb2055, USD (2026A)
0.80%
US84136HCT86
0.77%
US52349EEY23
0.72%
Black Belt Energy Gas District, 5% 1nov2036, USD (2026)
0.71%
US88256FAU66
0.67%
University of Kansas Hospital Authority, 5.5% 1mar2054, USD (2026A)
0.65%
Black Belt Energy Gas District, 5% 1oct2033, USD (2026)
0.65%
Black Belt Energy Gas District, 5% 1dec2034, USD (2026)
0.65%
Illinois Finance Authority, 5.25% 1jul2035, USD (2019)
0.64%
Frequently asked questions about CEFS and FMUB
How have the CEFS and FMUB ETFs performed in 2026?
As of August 31, 2026, CEFS is up 17.21% year-to-date (YTD), while FMUB has returned 1.04%. That puts CEFS better performer ahead so far this year.
Which ETF is attracting more investor money: CEFS or FMUB?
Year-to-date, the CEFS ETF saw +$34M in flows, compared to +$114M for FMUB.
Which ETF is more volatile: CEFS or FMUB?
Over the past year, CEFS had a volatility of 9.18%, while FMUB experienced 2.33%.
Which ETF is bigger: CEFS or FMUB?
As of August 31, 2026, CEFS holds $438.21 M in assets under management (AUM), while FMUB manages $259.39 M.
What sectors do the CEFS and FMUB ETFs invest in?
CEFS leans toward sectors like Non-Corporate. Meanwhile, FMUB focuses on Municipal and Non-Corporate.
What are the top holdings of the CEFS ETF and FMUB ETF?
CEFS top holdings include US09260K1016, Virtus Dividend Interest & Premium Strategy Fund and ASA Gold & Precious Metals Ltd.. FMUB holds in its top three: Fidelity Municipal Cash Central Fund, US54659LDS07 and Black Belt Energy Gas District, 5% 1jun2031, USD (2026).
Which ETF is more diversified: CEFS or FMUB?
CEFS holds 71 securities with 58.26% of its assets in the top 15. FMUB has 554 securities and a top 15 weight of 21.9%.
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