FMUBvsSHMETF Comparison
VS
ETF 2
SHM
State Street SPDR Nuveen ICE Short Term Municipal Bond ETF
This fund is part of
Municipal Bonds
-0%
Fidelity Municipal Bond Opportunities ETF (FMUB) and State Street SPDR Nuveen ICE Short Term Municipal Bond ETF (SHM) belong to the same industry segment: Municipal Bonds. FMUB's top 2 sector exposures are Municipal and Non-Corporate. In contrast, SHM's top sector exposures are Municipal. FMUB is more expensive with a Total Expense Ratio (TER) of 0.3%, versus 0.2% for SHM. FMUB is down -1.19% year-to-date (YTD) with +$148M in YTD flows. SHM performs better with 0.16% YTD performance, and +$47M in YTD flows. Run a side-by-side ETF comparison of FMUB and SHM 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 SHM 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 SHM | -0.32%-0.04% | -3.01%-0.80% | -1.19%+0.16% | -0.73%+0.56% | n/a+8.94% | n/a+4.03% |
| Flows | FMUB SHM | +$44M+$5M | +$62M+$67M | +$148M+$47M | +$164M+$61M | --$416M | --$1.32B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | FMUB SHM | +5.00%+2.39% | +3.14%+1.43% | n/a+1.65% | n/a+1.72% |
| Max drawdown | FMUB SHM | -5.46%-2.52% | -6.03%-2.61% | n/a-2.61% | n/a-6.22% |
| Max drawdown duration | FMUB SHM | 92d64d | 102d229d | n/a229d | n/a1036d |
Trading data
FMUB | SHM | |
Last sale 10/16/2026 at 1:30 PM | $49.11 | $47.02 |
| Previous close 10/15/2026 | $49.07 | $47.01 |
| Consolidated volume 10/15/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of October 19, 2026
1-year trailing difference
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FMUB
is actively managed and doesn’t replicate an indexFMUB | SHM | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 10/16/2026 at 1:30 PM
Live
Closed
FMUB | SHM | |
|---|---|---|
| Last price | $49.11 | $47.02 |
| 1D performance | +0.08% | +0.02% |
| AuM | $288.02 M | $3.49 B |
| E/R | 0.3% | 0.2% |
Characteristics
FMUB | SHM | |
|---|---|---|
| Management strategy | Active | Passive |
| Provider | Fidelity | State Street Investment Management |
| Benchmark | - | ICE 1-5 Year AMT-Free Broad Municipal Index |
| N° of holdings | 164 | 323 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | April 8, 2025 | October 10, 2007 |
| ESG | No | No |
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Exposure
Countries
FMUB
USA
34.21%
Other
65.79%
SHM
USA
31.88%
Other
68.12%
Sectors
FMUB
Municipal
26.63%
Non-Corporate
7.58%
Other
65.79%
SHM
Municipal
31.88%
Other
68.12%
Diversification
FMUB
Total weight of top 15 holdings out of 15
18.46%
SHM
Total weight of top 15 holdings out of 15
6.56%
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%
SHM
US84136HCT86
0.92%
New York Dormitory Authority, 2.5% 1jul1993, USD
0.62%
US13063ELG97
0.51%
California, 5% 1sep2028, USD
0.48%
US13063EAW66
0.45%
US91412HTD51
0.41%
Triborough Bridge and Tunnel Authority, 5% 15nov2028, USD (2023B)
0.40%
City of New York, 5.7% 1feb2006, USD
0.39%
US343137RQ01
0.36%
US574204W906
0.36%
US61334PFH10
0.35%
US13063EUS35
0.34%
US13013JBJ43
0.33%
US74440DFN93
0.32%
Connecticut, 5% 15jul2027, USD
0.32%
Frequently asked questions about FMUB and SHM
How have the FMUB and SHM ETFs performed in 2026?
As of October 16, 2026, FMUB is down -1.19% year-to-date (YTD), while SHM has returned 0.16%. That puts SHM better performer ahead so far this year.
Which ETF is attracting more investor money: FMUB or SHM?
Year-to-date, the FMUB ETF saw +$148M in flows, compared to +$47M for SHM.
Which ETF is more volatile: FMUB or SHM?
Over the past year, FMUB had a volatility of 3.14%, while SHM experienced 1.43%.
Which ETF is bigger: FMUB or SHM?
As of October 16, 2026, FMUB holds $288.02 M in assets under management (AUM), while SHM manages $3.49 B.
What sectors do the FMUB and SHM ETFs invest in?
FMUB leans toward sectors like Municipal and Non-Corporate. Meanwhile, SHM focuses on Municipal.
What are the top holdings of the FMUB ETF and SHM ETF?
FMUB top holdings include Fidelity Municipal Cash Central Fund, US54659LDS07 and Black Belt Energy Gas District, 5% 1jun2031, USD (2026). SHM holds in its top three: US84136HCT86, New York Dormitory Authority, 2.5% 1jul1993, USD and US13063ELG97.
Which ETF is more diversified: FMUB or SHM?
FMUB holds 563 securities with 18.46% of its assets in the top 15. SHM has 1087 securities and a top 15 weight of 6.56%.
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Latest news about FMUB & SHM
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