FMUN vs HMOP
Fidelity Systematic Municipal Bond Index ETF vs Hartford Municipal Opportunities ETF
Which is better, FMUN or HMOP?
Nearly the same fund. FMUN costs less.
FMUN has a lower expense ratio. HMOP led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.99.
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 | FMUN | HMOP |
|---|---|---|
| Expense Ratio | 0.05%Best | 0.29% |
| AUM | $170M | $806M |
| Dividend Yield | 3.83% | 4.03% |
| Holdings | 1,105 | 1,265 |
| YTD Return | -3.63% | -2.38%Best |
| 1Y Return | -2.57% | -1.49%Best |
| 3Y Return (annualized) | - | +3.89% |
| 5Y Return (annualized) | - | +0.67% |
| Volatility (annualized) | 5.5% | 4.8%Best |
| Max Drawdown | -7.3% | -6.0%Best |
| $10,000 over 1.5 years | $10,102 | $10,295Best |
| Fund Family | Fidelity Investments (US) | Hartford Funds |
| Category | Tax Preferred | Tax Preferred |
| Style | Municipal Bond | Municipal Bond |
| Inception | Apr 7, 2025 | Dec 13, 2017 |
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).
FMUN vs HMOP 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.
FMUN vs HMOP Performance
Fidelity Systematic Municipal Bond Index ETF (FMUN) is an ETF from Fidelity Investments (US) and Hartford Municipal Opportunities ETF (HMOP) is an ETF from Hartford Funds. Over the past year FMUN returned -2.57% while HMOP returned -1.49%. Year to date, FMUN is down 3.63% versus a loss of 2.38% for HMOP.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
FMUN has been the more volatile fund, with annualized monthly volatility of 5.5% compared with 4.8% for HMOP. 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 -7.3% for FMUN and -6.0% for HMOP. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.99. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
FMUN charges 0.05% per year while HMOP charges 0.29%. On a $10,000 position that is $5 vs $29 annually, a gap of $24 per year that compounds over a long holding period. On income, FMUN currently yields 3.83% against 4.03% for HMOP.
Holdings Overlap
We hold position weights for 781 holdings in FMUN and 313 in HMOP, totalling 57.8% and 35.1% 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, 39 positions appear in both.
39 positions in common, counted across the 781 positions we hold weights for in FMUN and 313 in HMOP, against full books of 1,105 and 1,265.
Top Shared Holdings
| Stock | Weight in FMUN | Weight in HMOP | Difference |
|---|---|---|---|
| AL SEEPWR 03/01/2055Southeast Energy Authority A Cooperative District 5.25 03/01/2055 | 0.50% | 0.23% | 0.27% |
| GA MAIUTL 05/01/2052Main Street Natural Gas Inc, Georgia, Gas Supply Revenue Bonds, Series 2021C | 0.12% | 0.36% | 0.24% |
| CA CCEDEV 05/01/2054California Cmnty Choice Fing A Ccedev 05/54 Adjustable Var 05-01-1954 | 0.17% | 0.25% | 0.08% |
| AL BBEUTL 02/01/2053Black Belt Energy Gas Dist Al Bbeutl 02/53 Adjustable Var | 0.18% | 0.23% | 0.05% |
| AL BBEUTL 12/01/2053Black Belt Energy Gas Dist Al Regd V/R B/E 5.25000000 | 0.30% | 0.04% | 0.26% |
| OH BUCGEN 5 06/01/20Buckeye Tobacco Settlement Financing Auth Oh Ref-Senior-Class 2-Ser B-2 5.000 Jun 01 55 | 0.19% | 0.11% | 0.08% |
| LA LASFAC 5 05/15/20Louisiana Public Facilities Authority 5 05/15/2030 | 0.10% | 0.19% | 0.09% |
| AL BBEUTL 10/01/2055Black Belt Energy Gas District 5 10/01/2055 | 0.14% | 0.15% | 0.01% |
| AL SOUUTL 06/01/2049Southeast Alabama Gas Supply D Souutl 06/49 Adjustable Var 5 2049-06-01 | 0.13% | 0.16% | 0.03% |
| AL SEEPWR 01/01/2053S E Energy Auth- Frn 1/53 | 0.21% | 0.05% | 0.16% |
You are not choosing between two funds in isolation.
Whichever of FMUN and HMOP 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, FMUN or HMOP?
FMUN has an expense ratio of 0.05% while HMOP charges 0.29%. FMUN is the cheaper option, by $24 a year on a $10,000 investment.
Which performed better, FMUN or HMOP?
Over the past year FMUN returned -2.57% vs -1.49% for HMOP, so HMOP leads on 1-year performance. Over the longest common window we track (2 years), FMUN annualized +0.68% vs +1.96% for HMOP. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, FMUN or HMOP?
FMUN has been the more volatile fund at 5.5% annualized versus 4.8% for HMOP. Worst drawdown: FMUN -7.3% vs HMOP -6.0%.
Should I hold both FMUN and HMOP?
FMUN and HMOP have a monthly-return correlation of 0.99, 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, FMUN or HMOP?
FMUN yields 3.83% while HMOP yields 4.03%, so HMOP currently pays the higher dividend yield.
Is HMOP better than FMUN?
FMUN has a lower expense ratio. HMOP led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.99. Which one suits a particular account depends on what it is for. This is information, not a recommendation.