FMUB vs SCMB
Fidelity Municipal Bond Opportunities ETF vs Schwab Municipal Bond ETF
Which is better, FMUB or SCMB?
Nearly the same fund. SCMB costs less.
SCMB has a lower expense ratio. FMUB led over 1Y and the full window. 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 | SCMB |
|---|---|---|
| Expense Ratio | 0.30% | 0.03%Best |
| AUM | $246M | $3.1B |
| Dividend Yield | 3.76% | 3.74% |
| Holdings | 605 | 7,278 |
| YTD Return | -2.14%Best | -3.06% |
| 1Y Return | -1.26%Best | -2.05% |
| 3Y Return (annualized) | - | +2.76% |
| Volatility (annualized) | 4.5%Best | 5.0% |
| Max Drawdown | -6.1%Best | -6.7% |
| $10,000 over 1.5 years | $10,501Best | $10,164 |
| Fund Family | Fidelity Investments (US) | Charles Schwab Investment Mangement |
| Category | Tax Preferred | Tax Preferred |
| Style | Municipal Bond | Municipal Bond |
| Inception | Apr 7, 2025 | Oct 11, 2022 |
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 SCMB 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 SCMB Performance
Fidelity Municipal Bond Opportunities ETF (FMUB) is an ETF from Fidelity Investments (US) and Schwab Municipal Bond ETF (SCMB) is an ETF from Charles Schwab Investment Mangement. Over the past year FMUB returned -1.26% while SCMB returned -2.05%. Year to date, FMUB is down 2.14% versus a loss of 3.06% for SCMB.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SCMB has been the more volatile fund, with annualized monthly volatility of 5.0% 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 -6.7% for SCMB. 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 SCMB charges 0.03%. On a $10,000 position that is $30 vs $3 annually, a gap of $27 per year that compounds over a long holding period. On income, FMUB currently yields 3.76% against 3.74% for SCMB.
Holdings Overlap
We hold position weights for 353 holdings in FMUB and 2,477 in SCMB, totalling 34.6% and 23.7% 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, 76 positions appear in both.
76 positions in common, counted across the 353 positions we hold weights for in FMUB and 2,477 in SCMB, against full books of 605 and 7,278.
Top Shared Holdings
| Stock | Weight in FMUB | Weight in SCMB | Difference |
|---|---|---|---|
| DC METAPT 5 10/01/20Metropolitan Wash D C Arpts Au 5% Oct 01, 2029 | 0.42% | 0.02% | 0.40% |
| NY NYSHGR 5 07/15/20New York (State Of) Dormitory Authority (Yeshiva University) | 0.28% | 0.01% | 0.27% |
| NY NYSFAC 3 03/15/20New York St Urban Dev Corp Sal Regd B/e 3.00000000 | 0.27% | 0.00% | 0.27% |
| TX NRTTRN 5 01/01/20North Tex Twy Auth Rev 5% Jan 01, 2041 | 0.27% | 0.00% | 0.27% |
| CA LOSUTL 5 01/01/20Los Angeles Department Of 5 01/01/2030 | 0.21% | 0.04% | 0.17% |
| NC CHAAPT 5.25 07/01Charlotte Nc Ap 5.25% 7/1/2044@ 0.0525 2044-07-01 | 0.20% | 0.04% | 0.16% |
| MI WAYAPT 5 12/01/20Wayne Co Mi Aar 5% 12/1/2033 @ 0.05 2033-12-01 | 0.21% | 0.02% | 0.19% |
| TX SANUTL 5.5 02/01/City Of San Antonio Tx Electric And Gas Systems Revenuefx.Rt. Muni Bond 02/01/2049 | 0.21% | 0.02% | 0.19% |
| HI HONUTL 5 07/01/20Honolulu City And County Wastewtr. Sys. Series 2016 B, 5% 7/1/27 | 0.20% | 0.01% | 0.19% |
| IL CHITRN 4 01/01/20Chicago Il O Hare Internationa Chitrn 01/44 Fixed Oid 4 | 0.21% | 0.00% | 0.21% |
You are not choosing between two funds in isolation.
Whichever of FMUB and SCMB 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 SCMB?
FMUB has an expense ratio of 0.30% while SCMB charges 0.03%. SCMB is the cheaper option, by $27 a year on a $10,000 investment.
Which performed better, FMUB or SCMB?
Over the past year FMUB returned -1.26% vs -2.05% for SCMB, so FMUB leads on 1-year performance. Over the longest common window we track (2 years), FMUB annualized +3.31% vs +1.09% for SCMB. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, FMUB or SCMB?
SCMB has been the more volatile fund at 5.0% annualized versus 4.5% for FMUB. Worst drawdown: FMUB -6.1% vs SCMB -6.7%.
Should I hold both FMUB and SCMB?
FMUB and SCMB 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 SCMB?
FMUB yields 3.76% while SCMB yields 3.74%, so FMUB currently pays the higher dividend yield.
Is SCMB better than FMUB?
SCMB has a lower expense ratio. FMUB led over 1Y and the full window. 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.