FMUB vs TAXM
Fidelity Municipal Bond Opportunities ETF vs BondBloxx IR+M Tax-Aware ETF for Massachusetts Residents
Which is better, FMUB or TAXM?
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 0.98.
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 | TAXM |
|---|---|---|
| Expense Ratio | 0.30%Best | 0.35% |
| AUM | $246M | $40M |
| Dividend Yield | 3.76% | 3.43% |
| Holdings | 605 | 162 |
| YTD Return | -2.14%Best | -3.22% |
| 1Y Return | -1.26%Best | -2.42% |
| Volatility (annualized) | 4.5%Best | 4.8% |
| Max Drawdown | -6.1%Best | -6.2% |
| $10,000 over 1.5 years | $10,501Best | $10,196 |
| Fund Family | Fidelity Investments (US) | BondBloxx |
| Category | Tax Preferred | Tax Preferred |
| Style | Municipal Bond | Municipal Bond |
| Inception | Apr 7, 2025 | Mar 13, 2025 |
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 TAXM 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 TAXM Performance
Fidelity Municipal Bond Opportunities ETF (FMUB) is an ETF from Fidelity Investments (US) and BondBloxx IR+M Tax-Aware ETF for Massachusetts Residents (TAXM) is an ETF from BondBloxx. Over the past year FMUB returned -1.26% while TAXM returned -2.42%. Year to date, FMUB is down 2.14% versus a loss of 3.22% for TAXM.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
TAXM has been the more volatile fund, with annualized monthly volatility of 4.8% 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 -6.2% for TAXM. 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 TAXM charges 0.35%. On a $10,000 position that is $30 vs $35 annually, a gap of $5 per year that compounds over a long holding period. On income, FMUB currently yields 3.76% against 3.43% for TAXM.
Holdings Overlap
We hold position weights for 353 holdings in FMUB and 69 in TAXM, totalling 34.6% and 32.5% 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, 6 positions appear in both.
6 positions in common, counted across the 353 positions we hold weights for in FMUB and 69 in TAXM, against full books of 605 and 162.
Top Shared Holdings
| Stock | Weight in FMUB | Weight in TAXM | Difference |
|---|---|---|---|
| GA MAIUTL 05/01/2055Main Street Natural Gas Inc 5 05/01/2055 | 0.82% | 0.75% | 0.07% |
| MA MASTRN 5 07/01/20Massachusetts Bay Transportation Authority, 5% 1jul2052, USD | 0.01% | 1.09% | 1.08% |
| MA MASDEV 5 07/01/20Massachusetts St D 5 7/55 5 | 0.01% | 0.59% | 0.58% |
| AL BBEUTL 06/01/2049Black Belt Energy Gas Dist Ala 5.5% Feb 01, 2029 | 0.23% | 0.28% | 0.05% |
| GA MAIUTL 09/01/2052Main Street Natural Gas Inc 4.00% 09/01/2052 | 0.08% | 0.23% | 0.15% |
| GA MAIUTL 06/01/2055Main Str Nat Var 06/55 | 0.20% | 0.07% | 0.13% |
You are not choosing between two funds in isolation.
Whichever of FMUB and TAXM 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 TAXM?
FMUB has an expense ratio of 0.30% while TAXM charges 0.35%. FMUB is the cheaper option, by $5 a year on a $10,000 investment.
Which performed better, FMUB or TAXM?
Over the past year FMUB returned -1.26% vs -2.42% for TAXM, so FMUB leads on 1-year performance. Over the longest common window we track (2 years), FMUB annualized +3.31% vs +1.30% for TAXM. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, FMUB or TAXM?
TAXM has been the more volatile fund at 4.8% annualized versus 4.5% for FMUB. Worst drawdown: FMUB -6.1% vs TAXM -6.2%.
Should I hold both FMUB and TAXM?
FMUB and TAXM 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 TAXM?
FMUB yields 3.76% while TAXM yields 3.43%, so FMUB currently pays the higher dividend yield.
Is TAXM 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 0.98. Which one suits a particular account depends on what it is for. This is information, not a recommendation.