FMUBvsTAXFETF Comparison
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Fidelity Municipal Bond Opportunities ETF (FMUB) and American Century Diversified Municipal Bond ETF (TAXF) belong to the same industry segment: Municipal Bonds. FMUB's top 2 sector exposures are Municipal and Non-Corporate. In contrast, TAXF's top sector exposures are Municipal. FMUB is more expensive with a Total Expense Ratio (TER) of 0.3%, versus 0.25% for TAXF. FMUB is down -1.19% year-to-date (YTD) with +$148M in YTD flows. TAXF performs worse with -1.87% YTD performance, and +$186M in YTD flows. Run a side-by-side ETF comparison of FMUB and TAXF 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 TAXF 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 TAXF | -0.32%-0.40% | -3.01%-3.76% | -1.19%-1.87% | -0.73%-1.18% | n/a+11.92% | n/a+1.98% |
| Flows | FMUB TAXF | +$44M+$40M | +$62M+$63M | +$148M+$186M | +$164M+$219M | -+$386M | -+$580M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | FMUB TAXF | +5.00%+5.54% | +3.14%+3.44% | n/a+3.93% | n/a+3.88% |
| Max drawdown | FMUB TAXF | -5.46%-6.26% | -6.03%-6.91% | n/a-6.91% | n/a-13.26% |
| Max drawdown duration | FMUB TAXF | 92d92d | 102d103d | n/a103d | n/a1001d |
Trading data
FMUB | TAXF | |
Last sale 10/16/2026 at 1:30 PM | $49.11 | $47.83 |
| Previous close 10/15/2026 | $49.07 | $47.87 |
| 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 | TAXF | |
|---|---|---|
| Last price | $49.11 | $47.83 |
| 1D performance | +0.08% | -0.08% |
| AuM | $288.02 M | $705.56 M |
| E/R | 0.3% | 0.25% |
Characteristics
FMUB | TAXF | |
|---|---|---|
| Management strategy | Active | Active |
| Provider | Fidelity | American Century Investments |
| Benchmark | - | - |
| N° of holdings | 164 | 244 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | April 8, 2025 | September 10, 2018 |
| ESG | No | No |
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Exposure
Countries
FMUB
USA
34.21%
Other
65.79%
TAXF
USA
35.49%
Other
64.51%
Sectors
FMUB
Municipal
26.63%
Non-Corporate
7.58%
Other
65.79%
TAXF
Municipal
35.49%
Other
64.51%
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Diversification
FMUB
Total weight of top 15 holdings out of 15
18.46%
TAXF
Total weight of top 15 holdings out of 15
8.47%
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%
TAXF
US74442PN840
0.88%
Build NYC Resource Corp., 5.25% 15dec2031, USD (2026B-3)
0.88%
Arkansas Development Finance Authority, 4% 1sep2046, USD (2026A)
0.73%
US60637GRY79
0.65%
Puerto Rico Sales Tax Financing Corp., 4.329% 1jul2040, USD
0.58%
US646080ZU81
0.57%
US452252RA98
0.54%
Black Belt Energy Gas District, 5% 1oct2035, USD (2025)
0.54%
Southeast Alabama Gas Supply District, FRN 1aug2054, USD (A)
0.54%
US681725PH47
0.46%
Orlando Utilities Commission, 5% 1oct2048, USD (2023A)
0.45%
US74439YBD22
0.44%
US292723AY90
0.41%
US880157EC24
0.40%
Patriots Energy Group Financing Agency, 5.25% 1oct2054, USD (2023A-1)
0.40%
Frequently asked questions about FMUB and TAXF
How have the FMUB and TAXF ETFs performed in 2026?
As of October 16, 2026, FMUB is down -1.19% year-to-date (YTD), while TAXF has lost -1.87%. That puts FMUB better performer ahead so far this year.
Which ETF is attracting more investor money: FMUB or TAXF?
Year-to-date, the FMUB ETF saw +$148M in flows, compared to +$186M for TAXF.
Which ETF is more volatile: FMUB or TAXF?
Over the past year, FMUB had a volatility of 3.14%, while TAXF experienced 3.44%.
Which ETF is bigger: FMUB or TAXF?
As of October 16, 2026, FMUB holds $288.02 M in assets under management (AUM), while TAXF manages $705.56 M.
What sectors do the FMUB and TAXF ETFs invest in?
FMUB leans toward sectors like Municipal and Non-Corporate. Meanwhile, TAXF focuses on Municipal.
What are the top holdings of the FMUB ETF and TAXF ETF?
FMUB top holdings include Fidelity Municipal Cash Central Fund, US54659LDS07 and Black Belt Energy Gas District, 5% 1jun2031, USD (2026). TAXF holds in its top three: US74442PN840, Build NYC Resource Corp., 5.25% 15dec2031, USD (2026B-3) and Arkansas Development Finance Authority, 4% 1sep2046, USD (2026A).
Which ETF is more diversified: FMUB or TAXF?
FMUB holds 563 securities with 18.46% of its assets in the top 15. TAXF has 792 securities and a top 15 weight of 8.47%.
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