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FMUNvsBRTRETF Comparison

ETF 1

FMUN

Fidelity Systematic Municipal Bond Index ETF

This fund is part of

Municipal Bonds

-0.42%

Full FMUN fund page

VS

ETF 2

BRTR

iShares Total Return Active ETF

This fund is part of

US Aggregate Bonds

-0.23%

Full BRTR fund page

Fidelity Systematic Municipal Bond Index ETF (FMUN) belongs to the Municipal Bonds segment. iShares Total Return Active ETF (BRTR) is part of the US Aggregate Bonds segment. FMUN's top 2 sector exposures are Municipal and Non-Corporate. In contrast, BRTR's top sector exposures are Sovereign, Industrials and Non-Corporate. FMUN is less expensive with a Total Expense Ratio (TER) of 0.05%, versus 0.41% for BRTR. FMUN is down -0.53% year-to-date (YTD) with +$12M in YTD flows. BRTR performs better with -0.4% YTD performance, and +$283M in YTD flows. Run a side-by-side ETF comparison of FMUN and BRTR 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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FMUN vs BRTR performance and flow charts

Performance

Cumulative Flows

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Daily, global ETF data for advanced analysis or integration into apps (API), from our partner Trackinsight.

Data Services

Historic performance and flows

Data as of 09/01/2026

		1M	3M	YTD	1Y	3Y	5Y
Perf.	FMUN BRTR	-0.74%-0.09%	-1.70%-0.89%	-0.53%-0.40%	+3.66%+2.20%	n/an/a	n/an/a
Flows	FMUN BRTR	-+$39M	+$3M+$124M	+$12M+$283M	+$14M+$532M	--	--

Volatility and drawdown

		3M	1Y	3Y	5Y
Volatility	FMUN BRTR	+2.82%+3.91%	+2.70%+3.79%	n/an/a	n/an/a
Max drawdown	FMUN BRTR	-2.55%-1.79%	-2.86%-3.04%	n/an/a	n/an/a
Max drawdown duration	FMUN BRTR	57d64d	184d184d	n/an/a	n/an/a

Trading data

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	FMUN	BRTR
Last sale 9/2/2026 at 4:40 PM	$48.66	$49.01
Previous close 09/01/2026	$48.71	$49.04
Consolidated volume 09/01/2026
Average volume 30 days
Average discount or premium 30 days
Average Bid/Ask spread 30 days

Replication quality

Data as of August 31, 2026

1-year trailing difference

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BRTR

is actively managed and doesn’t replicate an index

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	FMUN	BRTR
Tracking error
Tracking difference
1 year cumulative return difference
Best
Worst
Daily return difference
Average
Worst

Main metrics

Last update 9/2/2026 at 4:40 PM

Live

Closed

	FMUN	BRTR
Last price	$48.66	$49.01
1D performance	-0.10%	-0.06%
AuM	$178.54 M	$769.56 M
E/R	0.05%	0.41%

Characteristics

	FMUN	BRTR
Management strategy	Passive	Active
Provider	Fidelity	iShares
Benchmark	Fidelity Systematic U.S. Municipal Bond Index	-
N° of holdings	739	6534
Asset class	-	-
Trailing 12m distribution yield	Join	Join
Inception date	April 8, 2025	December 12, 2023
ESG	No	No

More FMUN data on Trackinsight

More BRTR data on Trackinsight

Exposure

Countries

FMUN

USA

58.77%

Other

41.23%

BRTR

Data will be available soon

Sectors

FMUN

Municipal

58.52%

Other

41.48%

BRTR

Data will be available soon

Diversification

FMUN

Total weight of top 15 holdings out of 15

9.67%

BRTR

Data will be available soon

Top 15 holdings

Data as of July 31, 2026

FMUN

California Community Choice Financing Authority, 5% 1jan2055, USD (2024B)

2.23%

US74440DFN93

0.89%

US79574CBW29

0.83%

US91412HSH74

0.60%

US56035DDX75

0.56%

Black Belt Energy Gas District, 5% 1oct2035, USD (2025)

0.52%

Pennsylvania Turnpike Commission, 5% 1dec2040, USD (2024)

0.51%

California, 5% 1aug2035, USD

0.50%

Southeast Energy Authority, 5.25% 1mar2055, USD (2025B)

0.48%

Triborough Bridge and Tunnel Authority, 4% 15may2046, USD (2021A)

0.47%

US452153JU45

0.46%

New York Transportation Development Corp., 5.375% 30jun2060, USD (2023)

0.44%

US56035DGT37

0.41%

Black Belt Energy Gas District, 5% 1may2055, USD (2024)

0.39%

Los Angeles Unified School District, 5% 1jul2031, USD (2024)

0.38%

BRTR

Data will be available soon

Frequently asked questions about FMUN and BRTR

How have the FMUN and BRTR ETFs performed in 2026?

As of September 1, 2026, FMUN is down -0.53% year-to-date (YTD), while BRTR has lost -0.4%. That puts BRTR better performer ahead so far this year.

Which ETF is attracting more investor money: FMUN or BRTR?

Year-to-date, the FMUN ETF saw +$12M in flows, compared to +$283M for BRTR.

Which ETF is more volatile: FMUN or BRTR?

Over the past year, FMUN had a volatility of 2.7%, while BRTR experienced 3.79%.

Which ETF is bigger: FMUN or BRTR?

As of September 1, 2026, FMUN holds $178.54 M in assets under management (AUM), while BRTR manages $769.56 M.

What sectors do the FMUN and BRTR ETFs invest in?

FMUN leans toward sectors like Municipal. Meanwhile, BRTR focuses on Sovereign and Industrials.

What are the top holdings of the FMUN ETF and BRTR ETF?

FMUN top holdings include California Community Choice Financing Authority, 5% 1jan2055, USD (2024B), US74440DFN93 and US79574CBW29. BRTR holds in its top three: US01F0526800, BlackRock Cash Funds - Institutional and USA, Bonds 4.75% 15nov2043, USD.

FMUNvsBRTRETF Comparison

Fidelity Systematic Municipal Bond Index ETF

iShares Total Return Active ETF

FMUN vs BRTR performance and flow charts

Performance

Cumulative Flows

Get all the metrics on this page, and more, through a reliable ETF data feed

Countries

Sectors

Diversification

Top 15 holdings

How have the FMUN and BRTR ETFs performed in 2026?

As of September 1, 2026, FMUN is down -0.53% year-to-date (YTD), while BRTR has lost -0.4%. That puts BRTR better performer ahead so far this year.

Which ETF is attracting more investor money: FMUN or BRTR?

Year-to-date, the FMUN ETF saw +$12M in flows, compared to +$283M for BRTR.

Which ETF is more volatile: FMUN or BRTR?

Over the past year, FMUN had a volatility of 2.7%, while BRTR experienced 3.79%.

Which ETF is bigger: FMUN or BRTR?

As of September 1, 2026, FMUN holds $178.54 M in assets under management (AUM), while BRTR manages $769.56 M.

What sectors do the FMUN and BRTR ETFs invest in?

FMUN leans toward sectors like Municipal. Meanwhile, BRTR focuses on Sovereign and Industrials.

What are the top holdings of the FMUN ETF and BRTR ETF?

FMUN top holdings include California Community Choice Financing Authority, 5% 1jan2055, USD (2024B), US74440DFN93 and US79574CBW29. BRTR holds in its top three: US01F0526800, BlackRock Cash Funds - Institutional and USA, Bonds 4.75% 15nov2043, USD.

Which ETF is more diversified: FMUN or BRTR?

FMUN holds 1171 securities with 9.67% of its assets in the top 15. BRTR has 8924 securities and a top 15 weight of 39.43%.

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