FMUB vs KTF
Fidelity Municipal Bond Opportunities ETF vs DWS Municipal Income Trust
Which is better, FMUB or KTF?
FMUB has been ahead.
FMUB 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 | FMUB | KTF |
|---|---|---|
| Expense Ratio | 0.30% | - |
| AUM | $246M | $321M |
| Dividend Yield | 3.76% | 9.36% |
| Holdings | 605 | 232 |
| YTD Return | -2.14%Best | -6.11% |
| 1Y Return | -1.26%Best | -5.53% |
| 3Y Return (annualized) | - | +9.12% |
| 5Y Return (annualized) | - | -1.77% |
| Volatility (annualized) | 4.5%Best | 8.7% |
| Max Drawdown | -6.1%Best | -12.3% |
| $10,000 over 1.5 years | $10,501Best | $9,837 |
| Fund Family | Fidelity Investments (US) | DWS |
| Category | Tax Preferred | Tax Preferred |
| Style | Municipal Bond | Municipal Bond |
| Inception | Apr 7, 2025 | Oct 20, 1988 |
Not shown on this pair: 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 KTF 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 KTF Performance
Fidelity Municipal Bond Opportunities ETF (FMUB) is an ETF from Fidelity Investments (US) and DWS Municipal Income Trust (KTF) is an ETF from DWS. Over the past year FMUB returned -1.26% while KTF returned -5.53%. Year to date, FMUB is down 2.14% versus a loss of 6.11% for KTF.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
KTF has been the more volatile fund, with annualized monthly volatility of 8.7% 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 -12.3% for KTF. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.83. They usually move together, but the gap leaves some room for diversification.
Holdings Overlap
We hold position weights for 353 holdings in FMUB and 105 in KTF, totalling 34.6% and 40.7% 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, 18 positions appear in both.
The two holdings books were reported 63 days apart, FMUB as of Oct 2, 2026 and KTF as of Jul 31, 2026, so some of the difference between them is the time between the two reports rather than the funds.
18 positions in common, counted across the 353 positions we hold weights for in FMUB and 105 in KTF, against full books of 605 and 232.
Top Shared Holdings
| Stock | Weight in FMUB | Weight in KTF | Difference |
|---|---|---|---|
| NY NYSDEV 4 03/15/20Ny State Ur D 4% 3/15/2045 | 0.00% | 1.52% | 1.52% |
| TX NRTTRN 5 01/01/20North Texas Tollway Authority 0.05 01/01/2048 | 0.27% | 0.88% | 0.61% |
| PR PRCGEN 0 07/01/20Prcgen 0.000 07/01/46 | 0.01% | 1.01% | 1.00% |
| SC SCSUTL 5.25 12/01South Carolina Public Service Authority, Santee Cooper Revenue Obligations, Series 2015E | 0.01% | 0.74% | 0.73% |
| MI WAYAPT 5.5 12/01/Wayne Co Arpt-B 5.5 12/48 | 0.34% | 0.19% | 0.15% |
| IL MPNFAC 0 12/15/20Met Pier Exposition Auth Il Mpnfac 12/51 Zerocpnoid 0 | 0.00% | 0.51% | 0.51% |
| NY NYTTRN 5.5 12/31/New York Transportation Development Corp 5.5% 12/31/2060 | 0.04% | 0.41% | 0.37% |
| AL BBEUTL 06/01/2049Black Belt Energy Gas Dist Ala 5.5% Feb 01, 2029 | 0.23% | 0.16% | 0.07% |
| NJ NJSTRN 5 06/15/20New Jersey St Transn Tr Fd Aut 5% Jun 15, 2046 | 0.01% | 0.38% | 0.37% |
| DC METAPT 4 10/01/20Metropolitan Washington Airports Authority, Virginia, Dulles Toll Road Revenue Bonds, Dulles Metrorail & Capital Improvement Projects, Refunding & Sub | 0.06% | 0.26% | 0.20% |
You are not choosing between two funds in isolation.
Whichever of FMUB and KTF 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 performed better, FMUB or KTF?
Over the past year FMUB returned -1.26% vs -5.53% for KTF, so FMUB leads on 1-year performance. Over the longest common window we track (2 years), FMUB annualized +3.31% vs -1.09% for KTF. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, FMUB or KTF?
KTF has been the more volatile fund at 8.7% annualized versus 4.5% for FMUB. Worst drawdown: FMUB -6.1% vs KTF -12.3%.
Should I hold both FMUB and KTF?
FMUB and KTF have a monthly-return correlation of 0.83, 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, FMUB or KTF?
FMUB yields 3.76% while KTF yields 9.36%, so KTF currently pays the higher dividend yield.
Is KTF better than FMUB?
FMUB 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.