FMUNvsNMBETF Comparison
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Fidelity Systematic Municipal Bond Index ETF (FMUN) belongs to the Municipal Bonds segment. Simplify National Muni Bond ETF (NMB) is part of the Options Strategies segment. FMUN's top 2 sector exposures are Municipal and Non-Corporate. In contrast, NMB's top sector exposures are Municipal. FMUN is less expensive with a Total Expense Ratio (TER) of 0.05%, versus 0.52% for NMB. FMUN is down -0.53% year-to-date (YTD) with +$12M in YTD flows. NMB performs better with 0.13% YTD performance, and +$4M in YTD flows. Run a side-by-side ETF comparison of FMUN and NMB 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 NMB performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 09/01/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | FMUN NMB | -0.74%-0.53% | -1.70%-0.86% | -0.53%+0.13% | +3.66%+6.36% | n/an/a | n/an/a |
| Flows | FMUN NMB | -+$615K | +$3M+$1M | +$12M+$4M | +$14M+$2M | -- | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | FMUN NMB | +2.82%+3.41% | +2.70%+4.79% | n/an/a | n/an/a |
| Max drawdown | FMUN NMB | -2.55%-2.45% | -2.86%-5.33% | n/an/a | n/an/a |
| Max drawdown duration | FMUN NMB | 57d56d | 184d307d | n/an/a | n/an/a |
Trading data
FMUN | NMB | |
Last sale 9/1/2026 at 1:30 PM | $48.71 | $24.08 |
| Previous close 09/01/2026 | $48.97 | $24.25 |
| 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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NMB
is actively managed and doesn’t replicate an indexFMUN | NMB | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
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Main metrics
Last update 9/1/2026 at 1:30 PM
Live
Closed
FMUN | NMB | |
|---|---|---|
| Last price | $48.71 | $24.08 |
| 1D performance | -0.54% | -0.74% |
| AuM | $178.54 M | $48.42 M |
| E/R | 0.05% | 0.52% |
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Exposure
Countries
FMUN
USA
58.77%
Other
41.23%
NMB
USA
54.36%
Other
45.64%
Sectors
FMUN
Municipal
58.52%
Other
41.48%
NMB
Municipal
54.36%
Other
45.64%
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Diversification
FMUN
Total weight of top 15 holdings out of 15
9.67%
NMB
Total weight of top 15 holdings out of 15
53.67%
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%
NMB
US43233KAW45
4.39%
Salt River Project Agricultural Improvement and Power District, 5.25% 1jan2055, USD (2025)
4.37%
US93974FJY07
4.32%
Jacksonville Aviation Authority, 5.25% 1oct2055, USD (2026)
4.22%
Aldine Independent School District, 4.375% 15feb2051, USD (2026)
3.99%
Midlothian Independent School District, 4.375% 15feb2056, USD (2026)
3.40%
US60637AA360
3.27%
Lee, 5.5% 1oct2051, USD (2026A-1)
3.27%
San Francisco Airport Commission, 5.5% 1may2055, USD (2025D)
3.27%
US46613SUP37
3.23%
Austin, 5.25% 15nov2051, USD (2026B)
3.20%
New Jersey Transportation Trust Fund Authority, 5% 15jun2050, USD (2025)
3.19%
US6500093S07
3.19%
Omaha Public Power District, 5% 1feb2056, USD (2026)
3.18%
US3730643H50
3.17%
Frequently asked questions about FMUN and NMB
How have the FMUN and NMB ETFs performed in 2026?
As of September 1, 2026, FMUN is down -0.53% year-to-date (YTD), while NMB has returned 0.13%. That puts NMB better performer ahead so far this year.
Which ETF is attracting more investor money: FMUN or NMB?
Year-to-date, the FMUN ETF saw +$12M in flows, compared to +$4M for NMB.
Which ETF is more volatile: FMUN or NMB?
Over the past year, FMUN had a volatility of 2.7%, while NMB experienced 4.79%.
Which ETF is bigger: FMUN or NMB?
As of September 1, 2026, FMUN holds $178.54 M in assets under management (AUM), while NMB manages $48.42 M.
What sectors do the FMUN and NMB ETFs invest in?
FMUN leans toward sectors like Municipal. Meanwhile, NMB focuses on Municipal.
What are the top holdings of the FMUN ETF and NMB ETF?
FMUN top holdings include California Community Choice Financing Authority, 5% 1jan2055, USD (2024B), US74440DFN93 and US79574CBW29. NMB holds in its top three: US43233KAW45, Salt River Project Agricultural Improvement and Power District, 5.25% 1jan2055, USD (2025) and US93974FJY07.
Which ETF is more diversified: FMUN or NMB?
FMUN holds 1171 securities with 9.67% of its assets in the top 15. NMB has 36 securities and a top 15 weight of 53.67%.
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Latest news about FMUN & NMB
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