FMUB vs JHMU
Fidelity Municipal Bond Opportunities ETF vs John Hancock Dynamic Municipal Bond ETF
Which is better, FMUB or JHMU?
Nearly the same fund. FMUB costs less.
FMUB has a lower expense ratio. FMUB led over the full window, JHMU over 1Y. The two have moved almost in lockstep, correlation 0.98.
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 | FMUB | JHMU |
|---|---|---|
| Expense Ratio | 0.30%Best | 0.39% |
| AUM | $246M | $53M |
| Dividend Yield | 3.76% | 4.06% |
| Holdings | 605 | 424 |
| YTD Return | -2.14%Best | -2.25% |
| 1Y Return | -1.26% | -0.91%Best |
| 3Y Return (annualized) | - | +4.83% |
| Volatility (annualized) | 4.5%Best | 4.8% |
| Max Drawdown | -6.1%Best | -6.2% |
| $10,000 over 1.5 years | $10,501Best | $10,350 |
| Fund Family | Fidelity Investments (US) | John Hancock Investment Management |
| Category | Tax Preferred | Tax Preferred |
| Style | Municipal Bond | Municipal Bond |
| Inception | Apr 7, 2025 | Nov 1, 2023 |
Not shown on this pair: 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).
FMUB vs JHMU 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.
FMUB vs JHMU Performance
Fidelity Municipal Bond Opportunities ETF (FMUB) is an ETF from Fidelity Investments (US) and John Hancock Dynamic Municipal Bond ETF (JHMU) is an ETF from John Hancock Investment Management. Over the past year FMUB returned -1.26% while JHMU returned -0.91%. Year to date, FMUB is down 2.14% versus a loss of 2.25% for JHMU.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
JHMU has been the more volatile fund, with annualized monthly volatility of 4.8% compared with 4.5% for FMUB. 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 -6.1% for FMUB and -6.2% for JHMU. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.98. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
FMUB charges 0.30% per year while JHMU charges 0.39%. On a $10,000 position that is $30 vs $39 annually, a gap of $9 per year that compounds over a long holding period. On income, FMUB currently yields 3.76% against 4.06% for JHMU.
Holdings Overlap
We hold position weights for 353 holdings in FMUB and 117 in JHMU, totalling 34.6% and 39.3% 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, 11 positions appear in both.
11 positions in common, counted across the 353 positions we hold weights for in FMUB and 117 in JHMU, against full books of 605 and 424.
Top Shared Holdings
| Stock | Weight in FMUB | Weight in JHMU | Difference |
|---|---|---|---|
| TN TNSUTL 05/01/2053Tennessee St Energy Acquisitio Regd V/R B/E 5.00000000 | 0.10% | 0.93% | 0.83% |
| DC METAPT 5 10/01/20Met Washington Dc Arpts Auth A 5 2030-10-01 | 0.42% | 0.38% | 0.04% |
| TX PSPSCD 5 02/15/20Prosper Tx Indep Sch Dist | 0.17% | 0.48% | 0.31% |
| AZ CHADEV 12/01/2037Chandler Industrial Development Authority, Arizona, Industrial Development Revenue Bonds, Intel Corp 4.1 12-01-2037 | 0.02% | 0.52% | 0.50% |
| GA MAIUTL 09/01/2052Main Street Natural Gas Inc 4.00% 09/01/2052 | 0.08% | 0.45% | 0.37% |
| UT SALAPT 5.25 07/01Salt Lake City 5.25% 07/01/36 | 0.06% | 0.34% | 0.28% |
| AL SEEPWR 03/01/2055Southeast Energy Authority A Cooperative District 5.25 03/01/2055 | 0.12% | 0.18% | 0.06% |
| CT CTSHGR 5 07/01/20Connecticut Health And Educational Facilities Authority, Revenue Bonds, Fairfield University, Series 2025V | 0.00% | 0.28% | 0.28% |
| CA LOSAPT 5 05/15/20City Of Los Angeles Department Losapt 05/28 Fixed 5 | 0.00% | 0.27% | 0.27% |
| MA MASDEV 5 07/01/20Massachusetts Development Fina Masdev 07/44 Fixed 5 | 0.01% | 0.23% | 0.22% |
You are not choosing between two funds in isolation.
Whichever of FMUB and JHMU 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, FMUB or JHMU?
FMUB has an expense ratio of 0.30% while JHMU charges 0.39%. FMUB is the cheaper option, by $9 a year on a $10,000 investment.
Which performed better, FMUB or JHMU?
Over the past year FMUB returned -1.26% vs -0.91% for JHMU, so JHMU leads on 1-year performance. Over the longest common window we track (2 years), FMUB annualized +3.31% vs +2.32% for JHMU. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, FMUB or JHMU?
JHMU has been the more volatile fund at 4.8% annualized versus 4.5% for FMUB. Worst drawdown: FMUB -6.1% vs JHMU -6.2%.
Should I hold both FMUB and JHMU?
FMUB and JHMU have a monthly-return correlation of 0.98, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
Which pays a higher dividend, FMUB or JHMU?
FMUB yields 3.76% while JHMU yields 4.06%, so JHMU currently pays the higher dividend yield.
Is JHMU better than FMUB?
FMUB has a lower expense ratio. FMUB led over the full window, JHMU over 1Y. The two have moved almost in lockstep, correlation 0.98. Which one suits a particular account depends on what it is for. This is information, not a recommendation.