FMUBvsMMITETF Comparison
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Fidelity Municipal Bond Opportunities ETF (FMUB) and NYLI MacKay Muni Intermediate ETF (MMIT) belong to the same industry segment: Municipal Bonds. FMUB's top 2 sector exposures are Municipal and Non-Corporate. In contrast, MMIT's top sector exposures are Municipal. FMUB is less expensive with a Total Expense Ratio (TER) of 0.3%, versus 0.48% for MMIT. FMUB is down -1.19% year-to-date (YTD) with +$148M in YTD flows. MMIT performs worse with -1.6% YTD performance, and +$337M in YTD flows. Run a side-by-side ETF comparison of FMUB and MMIT 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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FMUB vs MMIT performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/16/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | FMUB MMIT | -0.32%-0.14% | -3.01%-2.89% | -1.19%-1.60% | -0.73%-0.87% | n/a+10.77% | n/a+3.05% |
| Flows | FMUB MMIT | +$44M+$127M | +$62M+$161M | +$148M+$337M | +$164M+$462M | -+$1.13B | -+$1.43B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | FMUB MMIT | +5.00%+4.55% | +3.14%+2.83% | n/a+3.06% | n/a+3.08% |
| Max drawdown | FMUB MMIT | -5.46%-5.22% | -6.03%-5.97% | n/a-5.97% | n/a-11.87% |
| Max drawdown duration | FMUB MMIT | 92d92d | 102d229d | n/a229d | n/a997d |
Trading data
FMUB | MMIT | |
Last sale 10/16/2026 at 1:30 PM | $49.11 | $23.29 |
| Previous close 10/15/2026 | $49.07 | $23.26 |
| Consolidated volume 10/15/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
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Main metrics
Last update 10/16/2026 at 1:30 PM
Live
Closed
FMUB | MMIT | |
|---|---|---|
| Last price | $49.11 | $23.29 |
| 1D performance | +0.08% | +0.13% |
| AuM | $288.02 M | $1.58 B |
| E/R | 0.3% | 0.48% |
Characteristics
FMUB | MMIT | |
|---|---|---|
| Management strategy | Active | Active |
| Provider | Fidelity | New York Life Investments |
| Benchmark | - | - |
| N° of holdings | 164 | 190 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | April 8, 2025 | October 18, 2017 |
| ESG | No | No |
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Exposure
Countries
FMUB
USA
34.21%
Other
65.79%
MMIT
USA
30.87%
Other
69.13%
Sectors
FMUB
Municipal
26.63%
Non-Corporate
7.58%
Other
65.79%
MMIT
Municipal
30.87%
Other
69.13%
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Diversification
FMUB
Total weight of top 15 holdings out of 15
18.46%
MMIT
Total weight of top 15 holdings out of 15
10.47%
Top 15 holdings
Data as of August 31, 2026
FMUB
Fidelity Municipal Cash Central Fund
7.58%
US54659LDS07
1.66%
Black Belt Energy Gas District, 5% 1jun2031, USD (2026)
0.91%
US56035DJJ28
0.80%
US23503CFM47
0.76%
US64987KDJ43
0.75%
San Antonio Electric and Gas Systems, FRN 1feb2055, USD (2026A)
0.75%
Florida Housing Finance Corp., 1.8% 1jul2036, USD (2021)
0.75%
US84136HCT86
0.72%
US52349EEY23
0.67%
Black Belt Energy Gas District, 5% 1nov2036, USD (2026)
0.66%
US88256FAU66
0.63%
Black Belt Energy Gas District, 5% 1dec2034, USD (2026)
0.61%
Black Belt Energy Gas District, 5% 1oct2033, USD (2026)
0.61%
University of Kansas Hospital Authority, 5.5% 1mar2054, USD (2026A)
0.60%
MMIT
City of New York, 5.125% 15nov2011, USD
1.02%
Puerto Rico Sales Tax Financing Corp., 4.329% 1jul2040, USD
0.99%
Minnesota Municipal Gas Energy, 5% 1sep2035, USD (2026A)
0.90%
Hudson Yards Infrastructure Corp., 5% 15feb2042, USD
0.90%
Los Angeles Department of Water and Power, 5% 1jul2041, USD (2026)
0.89%
US70879QQA49
0.86%
Black Belt Energy Gas District, 4% 1oct2052, USD
0.62%
US850578UC77
0.62%
Chicago Board of Education, 6% 1apr2046, USD (2017)
0.58%
Phoenix Industrial Development Authority, 5% 31oct2044, USD (2024)
0.56%
US09182TFT97
0.56%
US74440DFC39
0.53%
US56035DJJ28
0.51%
Main Street Natural Gas Inc., 5% 1dec2052, USD (2022B)
0.47%
National Finance Authority, 4.25% 20jul2041, USD (2026-1, A-1)
0.46%
Frequently asked questions about FMUB and MMIT
How have the FMUB and MMIT ETFs performed in 2026?
As of October 16, 2026, FMUB is down -1.19% year-to-date (YTD), while MMIT has lost -1.6%. That puts FMUB better performer ahead so far this year.
Which ETF is attracting more investor money: FMUB or MMIT?
Year-to-date, the FMUB ETF saw +$148M in flows, compared to +$337M for MMIT.
Which ETF is more volatile: FMUB or MMIT?
Over the past year, FMUB had a volatility of 3.14%, while MMIT experienced 2.83%.
Which ETF is bigger: FMUB or MMIT?
As of October 16, 2026, FMUB holds $288.02 M in assets under management (AUM), while MMIT manages $1.58 B.
What sectors do the FMUB and MMIT ETFs invest in?
FMUB leans toward sectors like Municipal and Non-Corporate. Meanwhile, MMIT focuses on Municipal.
What are the top holdings of the FMUB ETF and MMIT ETF?
FMUB top holdings include Fidelity Municipal Cash Central Fund, US54659LDS07 and Black Belt Energy Gas District, 5% 1jun2031, USD (2026). MMIT holds in its top three: City of New York, 5.125% 15nov2011, USD, Puerto Rico Sales Tax Financing Corp., 4.329% 1jul2040, USD and Minnesota Municipal Gas Energy, 5% 1sep2035, USD (2026A).
Which ETF is more diversified: FMUB or MMIT?
FMUB holds 563 securities with 18.46% of its assets in the top 15. MMIT has 865 securities and a top 15 weight of 10.47%.
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