FMUNvsMUNYETF Comparison
VS
Fidelity Systematic Municipal Bond Index ETF (FMUN) and Vanguard New York Tax-Exempt Bond ETF (MUNY) belong to the same industry segment: Municipal Bonds. FMUN's top 2 sector exposures are Municipal and Non-Corporate. In contrast, MUNY's top sector exposures are Municipal. FMUN is less expensive with a Total Expense Ratio (TER) of 0.05%, versus 0.09% for MUNY. FMUN is down -2.47% year-to-date (YTD) with +$7M in YTD flows. MUNY performs better with -1.91% YTD performance, and +$546M in YTD flows. Run a side-by-side ETF comparison of FMUN and MUNY below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
Find out how industry players manage ETF portfolios. Discover our library of Model portfolios
FMUN vs MUNY performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/16/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | FMUN MUNY | -0.39%-0.04% | -3.71%-3.31% | -2.47%-1.91% | -2.04%-1.39% | n/an/a | n/an/a |
| Flows | FMUN MUNY | -$5M+$212M | -$5M+$277M | +$7M+$546M | +$9M+$616M | -- | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | FMUN MUNY | +5.47%+5.24% | +3.47%+3.32% | n/an/a | n/an/a |
| Max drawdown | FMUN MUNY | -6.21%-5.85% | -6.93%-6.60% | n/an/a | n/an/a |
| Max drawdown duration | FMUN MUNY | 92d92d | 229d102d | n/an/a | n/an/a |
Trading data
FMUN | MUNY | |
Last sale 10/19/2026 at 1:30 PM | $47.82 | $98.64 |
| Previous close 10/16/2026 | $47.82 | $98.68 |
| Consolidated volume 10/16/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of September 30, 2026
1-year trailing difference
Create an account to view replication metrics
Join for free
FMUN | MUNY | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
Advertisement
Main metrics
Last update 10/19/2026 at 1:30 PM
Live
Closed
FMUN | MUNY | |
|---|---|---|
| Last price | $47.82 | $98.64 |
| 1D performance | -0.01% | -0.04% |
| AuM | $169.28 M | $722.39 M |
| E/R | 0.05% | 0.09% |
Characteristics
FMUN | MUNY | |
|---|---|---|
| Management strategy | Passive | Passive |
| Provider | Fidelity | Vanguard |
| Benchmark | Fidelity Systematic U.S. Municipal Bond Index | S&P NewYork AMT-Free Municipal USD10 Million Par Bond Index |
| N° of holdings | 732 | 1835 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | April 8, 2025 | May 20, 2025 |
| ESG | No | No |
Advertisement
Exposure
Countries
FMUN
USA
58.42%
Other
41.58%
MUNY
USA
59.67%
Other
40.33%
Sectors
FMUN
Municipal
58.22%
Other
41.78%
MUNY
Municipal
59.67%
Other
40.33%
Advertisement
Diversification
FMUN
Total weight of top 15 holdings out of 15
9.69%
MUNY
Total weight of top 15 holdings out of 15
3.51%
Top 15 holdings
Data as of August 31, 2026
FMUN
California Community Choice Financing Authority, 5% 1jan2055, USD (2024B)
2.24%
US74440DFN93
0.89%
US79574CBW29
0.83%
US91412HSH74
0.61%
US56035DDX75
0.56%
Black Belt Energy Gas District, 5% 1oct2035, USD (2025)
0.53%
California, 5% 1aug2035, USD
0.50%
Pennsylvania Turnpike Commission, 5% 1dec2040, USD (2024)
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%
MUNY
New York Dormitory Authority, 5.5% 1jul2054, USD (2024A)
0.31%
Hudson Yards Infrastructure Corp., 5% 15feb2042, USD
0.29%
City of New York, FRN 1aug2044, USD
0.27%
Triborough Bridge and Tunnel Authority, 5% 15may2051, USD (2021A)
0.27%
MTA Hudson Rail Yards Trust, 5% 15nov2056, USD (2016A)
0.25%
Triborough Bridge and Tunnel Authority, 5.25% 15may2064, USD (2024A-1)
0.23%
MTA Hudson Rail Yards Trust, 5% 15nov2051, USD (2016A)
0.22%
Triborough Bridge and Tunnel Authority, 5% 15nov2051, USD (2021A)
0.22%
US896035CD29
0.22%
New York Transitional Finance Authority, 5% 1nov2034, USD (2026)
0.21%
US896032BB41
0.21%
Triborough Bridge and Tunnel Authority, 5% 15nov2047, USD (2017A)
0.21%
Monroe Industrial Development Corp., 4% 1jul2050, USD (2020A)
0.20%
US89602HEY99
0.20%
New York Power Authority, 4% 15nov2050, USD
0.19%
Frequently asked questions about FMUN and MUNY
How have the FMUN and MUNY ETFs performed in 2026?
As of October 16, 2026, FMUN is down -2.47% year-to-date (YTD), while MUNY has lost -1.91%. That puts MUNY better performer ahead so far this year.
Which ETF is attracting more investor money: FMUN or MUNY?
Year-to-date, the FMUN ETF saw +$7M in flows, compared to +$546M for MUNY.
Which ETF is more volatile: FMUN or MUNY?
Over the past year, FMUN had a volatility of 3.47%, while MUNY experienced 3.32%.
Which ETF is bigger: FMUN or MUNY?
As of October 16, 2026, FMUN holds $169.28 M in assets under management (AUM), while MUNY manages $722.39 M.
What sectors do the FMUN and MUNY ETFs invest in?
FMUN leans toward sectors like Municipal. Meanwhile, MUNY focuses on Municipal.
What are the top holdings of the FMUN ETF and MUNY ETF?
FMUN top holdings include California Community Choice Financing Authority, 5% 1jan2055, USD (2024B), US74440DFN93 and US79574CBW29. MUNY holds in its top three: New York Dormitory Authority, 5.5% 1jul2054, USD (2024A), Hudson Yards Infrastructure Corp., 5% 15feb2042, USD and City of New York, FRN 1aug2044, USD.
Which ETF is more diversified: FMUN or MUNY?
FMUN holds 1169 securities with 9.69% of its assets in the top 15. MUNY has 3643 securities and a top 15 weight of 3.51%.
Advertisement
Advertisement
