FMUB vs TAFL
Fidelity Municipal Bond Opportunities ETF vs AB Tax-Aware Long Municipal ETF
Which is better, FMUB or TAFL?
FMUB has been ahead.
TAFL has a lower expense ratio. FMUB led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.92.
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 | TAFL |
|---|---|---|
| Expense Ratio | 0.30% | 0.28%Best |
| AUM | $246M | $60M |
| Dividend Yield | 3.76% | 4.37% |
| Holdings | 605 | 326 |
| YTD Return | -2.14%Best | -4.38% |
| 1Y Return | -1.26%Best | -3.64% |
| Volatility (annualized) | 4.5%Best | 6.4% |
| Max Drawdown | -6.1%Best | -8.1% |
| $10,000 over 1.5 years | $10,501Best | $10,053 |
| Fund Family | Fidelity Investments (US) | AllianceBernstein L.P. |
| Category | Tax Preferred | Tax Preferred |
| Style | Municipal Bond | Municipal Bond |
| Inception | Apr 7, 2025 | Dec 13, 2023 |
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).
FMUB vs TAFL 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 TAFL Performance
Fidelity Municipal Bond Opportunities ETF (FMUB) is an ETF from Fidelity Investments (US) and AB Tax-Aware Long Municipal ETF (TAFL) is an ETF from AllianceBernstein L.P.. Over the past year FMUB returned -1.26% while TAFL returned -3.64%. Year to date, FMUB is down 2.14% versus a loss of 4.38% for TAFL.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
TAFL has been the more volatile fund, with annualized monthly volatility of 6.4% 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 -8.1% for TAFL. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.92. 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 TAFL charges 0.28%. On a $10,000 position that is $30 vs $28 annually, a gap of $2 per year that compounds over a long holding period. On income, FMUB currently yields 3.76% against 4.37% for TAFL.
Holdings Overlap
We hold position weights for 353 holdings in FMUB and 68 in TAFL, totalling 34.6% and 50.6% 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, 7 positions appear in both.
7 positions in common, counted across the 353 positions we hold weights for in FMUB and 68 in TAFL, against full books of 605 and 326.
Top Shared Holdings
| Stock | Weight in FMUB | Weight in TAFL | Difference |
|---|---|---|---|
| SC SCSUTL 5.25 12/01South Carolina Public Service Authority, Santee Cooper Revenue Obligations, Refunding Series 2024B 5.25 12/01/2054 | 0.01% | 1.79% | 1.78% |
| AZ SLTPWR 5 12/01/20Salt Verde Az Financial Corp Senior Gas Revenue 5% 12/01/2037 | 0.10% | 1.53% | 1.43% |
| VA FAIDEV 4 05/15/20Fairfax Cnty Va Indl Dev Auth | 0.18% | 1.36% | 1.18% |
| IL CHIEDU 5 12/01/20Chicago Board Of Education Series 2023-A 5.00%, 12/01/34 | 0.04% | 0.22% | 0.18% |
| FL FLSDEV 5.25 06/01Florida Development Finance Corporation, Student Housing Revenue Bonds, Spp - Tampa I - Llc The Henry Project, Series 2024A-1 5.25 06/01/2059 | 0.03% | 0.14% | 0.11% |
| CA GLDGEN 0 06/01/20Golden St Tobacco Securitizati Regd Zcp Oid B/E 0.00000000 | 0.02% | 0.14% | 0.12% |
| PR PRCGEN 0 07/01/20Puerto Rico Sales Tax Fing Corp Sales Tax Revenue | 0.01% | 0.04% | 0.03% |
You are not choosing between two funds in isolation.
Whichever of FMUB and TAFL 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 TAFL?
FMUB has an expense ratio of 0.30% while TAFL charges 0.28%. TAFL is the cheaper option, by $2 a year on a $10,000 investment.
Which performed better, FMUB or TAFL?
Over the past year FMUB returned -1.26% vs -3.64% for TAFL, so FMUB leads on 1-year performance. Over the longest common window we track (2 years), FMUB annualized +3.31% vs +0.35% for TAFL. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, FMUB or TAFL?
TAFL has been the more volatile fund at 6.4% annualized versus 4.5% for FMUB. Worst drawdown: FMUB -6.1% vs TAFL -8.1%.
Should I hold both FMUB and TAFL?
FMUB and TAFL have a monthly-return correlation of 0.92, 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 TAFL?
FMUB yields 3.76% while TAFL yields 4.37%, so TAFL currently pays the higher dividend yield.
Is TAFL better than FMUB?
TAFL has a lower expense ratio. FMUB led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.92. Which one suits a particular account depends on what it is for. This is information, not a recommendation.