EVSM vs FMUN
Eaton Vance Short Duration Municipal Income ETF vs Fidelity Systematic Municipal Bond Index ETF
Which is better, EVSM or FMUN?
EVSM has been ahead.
FMUN has a lower expense ratio. EVSM led over 1Y and the full window.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | EVSM | FMUN |
|---|---|---|
| Expense Ratio | 0.19% | 0.05%Best |
| AUM | $1.0B | $170M |
| Dividend Yield | 3.06% | 3.83% |
| Holdings | 784 | 1,105 |
| YTD Return | +0.32%Best | -3.63% |
| 1Y Return | +0.81%Best | -2.57% |
| Volatility (annualized) | 2.0%Best | 5.5% |
| Max Drawdown | -2.0%Best | -7.3% |
| $10,000 over 1.5 years | $10,455Best | $10,102 |
| Fund Family | Eaton Vance | Fidelity Investments (US) |
| Category | Tax Preferred | Tax Preferred |
| Style | Municipal Bond | Municipal Bond |
| Inception | Mar 25, 2024 | Apr 7, 2025 |
Not shown on this pair: 3Y Return (annualized), 5Y Return (annualized), Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 1.5 years row, are measured over the window both funds cover: Apr 7, 2025 to Oct 14, 2026 (1.5 years).
EVSM vs FMUN growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 1.5 years both funds cover.
EVSM vs FMUN Performance
Eaton Vance Short Duration Municipal Income ETF (EVSM) is an ETF from Eaton Vance and Fidelity Systematic Municipal Bond Index ETF (FMUN) is an ETF from Fidelity Investments (US). Over the past year EVSM returned +0.81% while FMUN returned -2.57%. Year to date, EVSM is up 0.32% versus a loss of 3.63% for FMUN.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
FMUN has been the more volatile fund, with annualized monthly volatility of 5.5% compared with 2.0% for EVSM. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -2.0% for EVSM and -7.3% for FMUN. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.88. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
EVSM charges 0.19% per year while FMUN charges 0.05%. On a $10,000 position that is $19 vs $5 annually, a gap of $14 per year that compounds over a long holding period. On income, EVSM currently yields 3.06% against 3.83% for FMUN.
Holdings Overlap
We hold position weights for 97 holdings in EVSM and 781 in FMUN, totalling 29.5% and 57.8% of the two funds. Neither is a share of a fund we can divide by, so no overlap percentage is shown here. Within what we can see, 14 positions appear in both.
14 positions in common, counted across the 97 positions we hold weights for in EVSM and 781 in FMUN, against full books of 784 and 1,105.
Top Shared Holdings
| Stock | Weight in EVSM | Weight in FMUN | Difference |
|---|---|---|---|
| CA CCEDEV 01/01/2055Ca Cmnty Choice- Frn 1/55 | 0.53% | 0.28% | 0.25% |
| GA MAIUTL 05/01/2054Main Street Natur V/R 12/01/54 | 0.17% | 0.42% | 0.25% |
| CO COSMED 11/15/2058Colorado Health Facilities Authority, Colorado, Revenue Bonds, Adventhealth Obligated Group, Series 11-15-2058 | 0.22% | 0.18% | 0.04% |
| IL ILS 5 11/01/2028Ils 5.000 11/01/28 | 0.28% | 0.08% | 0.20% |
| NY NYSHGR 5 02/15/20New York State Dormitory Authority 5 02/15/2032 | 0.28% | 0.07% | 0.21% |
| VA ROADEV 07/01/2053Roanoke Va Econ Dev Auth Hospr Regd V/R B/E 5.00000000 | 0.28% | 0.06% | 0.22% |
| CA CASMED 5 12/01/20California Health Facilities Financing Authority 5 2028-12-01 | 0.11% | 0.23% | 0.12% |
| MI MISFAC 5 10/15/20Michigan St Bldg Auth Rev Rev Ref Bds 2016 I 5 2031-10-15 | 0.31% | 0.01% | 0.30% |
| NY MTATRN 5 11/15/20Metropolitan Transportation Authority (green Bonds), Series 2020, Ref. Rb | 0.28% | 0.01% | 0.27% |
| NJ NJSTRN 5 01/01/20Nj Tpk 5% 1/1/2028 | 0.28% | 0.01% | 0.27% |
You are not choosing between two funds in isolation.
Whichever of EVSM and FMUN you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, EVSM or FMUN?
EVSM has an expense ratio of 0.19% while FMUN charges 0.05%. FMUN is the cheaper option, by $14 a year on a $10,000 investment.
Which performed better, EVSM or FMUN?
Over the past year EVSM returned +0.81% vs -2.57% for FMUN, so EVSM leads on 1-year performance. Over the longest common window we track (2 years), EVSM annualized +3.01% vs +0.68% for FMUN. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, EVSM or FMUN?
FMUN has been the more volatile fund at 5.5% annualized versus 2.0% for EVSM. Worst drawdown: EVSM -2.0% vs FMUN -7.3%.
Should I hold both EVSM and FMUN?
EVSM and FMUN have a monthly-return correlation of 0.88, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, EVSM or FMUN?
EVSM yields 3.06% while FMUN yields 3.83%, so FMUN currently pays the higher dividend yield.
Is FMUN better than EVSM?
FMUN has a lower expense ratio. EVSM led over 1Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.