FMUB vs TAFM
Fidelity Municipal Bond Opportunities ETF vs AB Tax-Aware Intermediate Municipal ETF
Which is better, FMUB or TAFM?
Nearly the same fund. TAFM costs less.
TAFM 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 | TAFM |
|---|---|---|
| Expense Ratio | 0.30% | 0.28%Best |
| AUM | $246M | $1.0B |
| Dividend Yield | 3.76% | 3.85% |
| Holdings | 605 | 1,404 |
| YTD Return | -2.14%Best | -3.22% |
| 1Y Return | -1.26%Best | -2.29% |
| Volatility (annualized) | 4.5%Best | 5.2% |
| Max Drawdown | -6.1%Best | -6.6% |
| $10,000 over 1.5 years | $10,501Best | $10,156 |
| 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 TAFM 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 TAFM Performance
Fidelity Municipal Bond Opportunities ETF (FMUB) is an ETF from Fidelity Investments (US) and AB Tax-Aware Intermediate Municipal ETF (TAFM) is an ETF from AllianceBernstein L.P.. Over the past year FMUB returned -1.26% while TAFM returned -2.29%. Year to date, FMUB is down 2.14% versus a loss of 3.22% for TAFM.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
TAFM has been the more volatile fund, with annualized monthly volatility of 5.2% 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 -6.6% for TAFM. 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 TAFM 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 3.85% for TAFM.
Holdings Overlap
We hold position weights for 353 holdings in FMUB and 234 in TAFM, totalling 34.6% and 28.8% 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, 36 positions appear in both.
36 positions in common, counted across the 353 positions we hold weights for in FMUB and 234 in TAFM, against full books of 605 and 1,404.
Top Shared Holdings
| Stock | Weight in FMUB | Weight in TAFM | Difference |
|---|---|---|---|
| AL SEEPWR 10/01/2055Southeast Energy Authority A Cooperative District | 0.59% | 0.09% | 0.50% |
| FL SMIMED 08/15/2065S Miami Fl Hlth Facs Auth Smimed 08/65 Adjustable Var | 0.42% | 0.13% | 0.29% |
| DC METAPT 5 10/01/20Met Washington Dc Arpts Auth A Metapt 10/35 Fixed 5 | 0.42% | 0.03% | 0.39% |
| AZ SLTPWR 5 12/01/20Salt Verde Az Financial Corp Senior Gas Revenue 5% 12/01/2037 | 0.10% | 0.31% | 0.21% |
| IL ILS 4 07/01/2037State Of Illinois,Illinois St 4 2037-07-01 | 0.12% | 0.23% | 0.11% |
| OH AMEPWR 5 02/15/20American Mun Pwr Ohio Inc Rev 5% Feb 15, 2038 | 0.21% | 0.13% | 0.08% |
| NJ TOBGEN 5 06/01/20Fx.rt. Muni Bond | 0.18% | 0.15% | 0.03% |
| HI HISAPT 5 07/01/20Hawaii St Arpts Sys Revenue Hisapt 07/41 Fixed 5 | 0.20% | 0.12% | 0.08% |
| NE CENPWR 08/01/2055Central Plains Energy Pro 5 07/31/2031 | 0.20% | 0.12% | 0.08% |
| CA SFOAPT 5.5 05/01/San Fran Arpt 5.5% 05/01/37 | 0.11% | 0.20% | 0.09% |
You are not choosing between two funds in isolation.
Whichever of FMUB and TAFM 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 TAFM?
FMUB has an expense ratio of 0.30% while TAFM charges 0.28%. TAFM is the cheaper option, by $2 a year on a $10,000 investment.
Which performed better, FMUB or TAFM?
Over the past year FMUB returned -1.26% vs -2.29% for TAFM, so FMUB leads on 1-year performance. Over the longest common window we track (2 years), FMUB annualized +3.31% vs +1.04% for TAFM. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, FMUB or TAFM?
TAFM has been the more volatile fund at 5.2% annualized versus 4.5% for FMUB. Worst drawdown: FMUB -6.1% vs TAFM -6.6%.
Should I hold both FMUB and TAFM?
FMUB and TAFM 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 TAFM?
FMUB yields 3.76% while TAFM yields 3.85%, so TAFM currently pays the higher dividend yield.
Is TAFM better than FMUB?
TAFM 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.