FMUB vs MINO
Fidelity Municipal Bond Opportunities ETF vs PIMCO Municipal Income Opportunities Active Exchange-Traded Fund
Which is better, FMUB or MINO?
Nearly the same fund. FMUB costs less.
FMUB has a lower expense ratio. FMUB led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.97.
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 | MINO |
|---|---|---|
| Expense Ratio | 0.30%Best | 0.39% |
| AUM | $246M | $850M |
| Dividend Yield | 3.76% | 4.17% |
| Holdings | 605 | 1,083 |
| YTD Return | -2.14%Best | -2.95% |
| 1Y Return | -1.26%Best | -2.10% |
| 3Y Return (annualized) | - | +3.99% |
| 5Y Return (annualized) | - | +0.59% |
| Volatility (annualized) | 4.5%Best | 5.4% |
| Max Drawdown | -6.1%Best | -6.9% |
| $10,000 over 1.5 years | $10,501Best | $10,283 |
| Fund Family | Fidelity Investments (US) | PIMCO (US) |
| Category | Tax Preferred | Tax Preferred |
| Style | Municipal Bond | Municipal Bond |
| Inception | Apr 7, 2025 | Sep 8, 2021 |
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 MINO 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 MINO Performance
Fidelity Municipal Bond Opportunities ETF (FMUB) is an ETF from Fidelity Investments (US) and PIMCO Municipal Income Opportunities Active Exchange-Traded Fund (MINO) is an ETF from PIMCO (US). Over the past year FMUB returned -1.26% while MINO returned -2.10%. Year to date, FMUB is down 2.14% versus a loss of 2.95% for MINO.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
MINO has been the more volatile fund, with annualized monthly volatility of 5.4% 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 -6.9% for MINO. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.97. 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 MINO 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 4.17% for MINO.
Holdings Overlap
We hold position weights for 353 holdings in FMUB and 226 in MINO, totalling 34.6% and 33.7% 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, 27 positions appear in both.
27 positions in common, counted across the 353 positions we hold weights for in FMUB and 226 in MINO, against full books of 605 and 1,083.
Top Shared Holdings
| Stock | Weight in FMUB | Weight in MINO | Difference |
|---|---|---|---|
| CA CCEDEV 10/01/2055California Community Choice Financing Authority 0.05 10/01/2055 | 0.24% | 0.37% | 0.13% |
| TX NRTTRN 5 01/01/20North Texas Tollway Authority Series 2024-B 5.00%, 01/01/34 | 0.27% | 0.13% | 0.14% |
| NJ TOBGEN 5 06/01/20Tobacco Settlement Fing Corp Nj | 0.18% | 0.20% | 0.02% |
| AL SEEPWR 03/01/2055Southeast Energy Authority A Cooperative District 5.25 03/01/2055 | 0.12% | 0.20% | 0.08% |
| NY NYEFAC 07/01/2056New York Energy Fin Dev Corp Nyefac 07/56 Adjustable Var | 0.11% | 0.19% | 0.08% |
| CO COSMED 5 08/01/20Colorado (state Of) Health Facilities Authority (commonspirit Health), Series 2019 A-2, Rb | 0.02% | 0.26% | 0.24% |
| IL STSGEN 5 01/01/20Sales Tax Securitization Corporation, Illinois, Sales Tax Securitzation Bonds, Series 2018a | 0.12% | 0.13% | 0.01% |
| AL SEEPWR 01/01/2054Southeast Energy Auth Coop Dist Ala Commodity Supply Rev 5 01-01-2054 | 0.16% | 0.06% | 0.10% |
| CA CCEDEV 01/01/2055Ca Cmnty Choice- Frn 1/55 | 0.06% | 0.15% | 0.09% |
| WA WASHSG 5 07/01/20Washington St Hsg Fin Commn Nonprofit Rev 5.0% 01-Jul-2040 | 0.06% | 0.13% | 0.07% |
You are not choosing between two funds in isolation.
Whichever of FMUB and MINO 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 MINO?
FMUB has an expense ratio of 0.30% while MINO charges 0.39%. FMUB is the cheaper option, by $9 a year on a $10,000 investment.
Which performed better, FMUB or MINO?
Over the past year FMUB returned -1.26% vs -2.10% for MINO, so FMUB leads on 1-year performance. Over the longest common window we track (2 years), FMUB annualized +3.31% vs +1.88% for MINO. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, FMUB or MINO?
MINO has been the more volatile fund at 5.4% annualized versus 4.5% for FMUB. Worst drawdown: FMUB -6.1% vs MINO -6.9%.
Should I hold both FMUB and MINO?
FMUB and MINO have a monthly-return correlation of 0.97, 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 MINO?
FMUB yields 3.76% while MINO yields 4.17%, so MINO currently pays the higher dividend yield.
Is MINO better than FMUB?
FMUB has a lower expense ratio. FMUB led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.97. Which one suits a particular account depends on what it is for. This is information, not a recommendation.