FMUN vs JHMU
Fidelity Systematic Municipal Bond Index ETF vs John Hancock Dynamic Municipal Bond ETF
Which is better, FMUN or JHMU?
Nearly the same fund. FMUN costs less.
FMUN has a lower expense ratio. JHMU 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 | JHMU |
|---|---|---|
| Expense Ratio | 0.05%Best | 0.39% |
| AUM | $170M | $53M |
| Dividend Yield | 3.83% | 4.06% |
| Holdings | 1,105 | 424 |
| YTD Return | -3.63% | -2.25%Best |
| 1Y Return | -2.57% | -0.91%Best |
| 3Y Return (annualized) | - | +4.83% |
| Volatility (annualized) | 5.5% | 4.8%Best |
| Max Drawdown | -7.3% | -6.2%Best |
| $10,000 over 1.5 years | $10,102 | $10,350Best |
| Fund Family | Fidelity Investments (US) | John Hancock Investment Management |
| Category | Tax Preferred | Tax Preferred |
| Style | Municipal Bond | Municipal Bond |
| Inception | Apr 7, 2025 | Nov 1, 2023 |
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).
FMUN vs JHMU 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 JHMU Performance
Fidelity Systematic Municipal Bond Index ETF (FMUN) is an ETF from Fidelity Investments (US) and John Hancock Dynamic Municipal Bond ETF (JHMU) is an ETF from John Hancock Investment Management. Over the past year FMUN returned -2.57% while JHMU returned -0.91%. Year to date, FMUN is down 3.63% versus a loss of 2.25% for JHMU.
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 JHMU. 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 -6.2% for JHMU. 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 JHMU charges 0.39%. On a $10,000 position that is $5 vs $39 annually, a gap of $34 per year that compounds over a long holding period. On income, FMUN currently yields 3.83% against 4.06% for JHMU.
Holdings Overlap
We hold position weights for 781 holdings in FMUN and 117 in JHMU, totalling 57.8% and 39.3% 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, 19 positions appear in both.
19 positions in common, counted across the 781 positions we hold weights for in FMUN and 117 in JHMU, against full books of 1,105 and 424.
Top Shared Holdings
| Stock | Weight in FMUN | Weight in JHMU | Difference |
|---|---|---|---|
| KY KYSPWR 06/01/2055Kentucky Inc Ky Pub Energy Aut 5.25% Dec 01, 2029 | 0.93% | 0.38% | 0.55% |
| UT SALAPT 5 07/01/20Salt Lake City Corp Airport Revenue | 0.18% | 0.88% | 0.70% |
| GA MAIUTL 09/01/2052Main Street Natural Gas Inc 4.00% 09/01/2052 | 0.59% | 0.45% | 0.14% |
| GA MAIUTL 05/01/2054Main Street Natural Gas Inc Maiutl 05/54 Adjustable Var 5 2054-05-01 | 0.42% | 0.47% | 0.05% |
| TX TMGUTL 01/01/2054TEXAS ST MUNI GAS ACQUISITION TMGUTL 01/54 ADJUSTABLE VAR | 0.15% | 0.57% | 0.42% |
| NY TRYGEN 5 09/01/20Troy Capital Resource Corp | 0.22% | 0.46% | 0.24% |
| AL SEEPWR 03/01/2055Southeast Energy Authority A Cooperative District 5.25 03/01/2055 | 0.50% | 0.18% | 0.32% |
| NY NYTTRN 4.38 10/01New York Transportation Development Corp 4.38% 10/01/2045 | 0.17% | 0.35% | 0.18% |
| TX SANUTL 5 02/01/20City Public Service Board Of San Antonio | 0.06% | 0.37% | 0.31% |
| DC METAPT 5 10/01/20Met Washington Dc Arpts Auth A 5 2030-10-01 | 0.04% | 0.38% | 0.34% |
You are not choosing between two funds in isolation.
Whichever of FMUN and JHMU 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 JHMU?
FMUN has an expense ratio of 0.05% while JHMU charges 0.39%. FMUN is the cheaper option, by $34 a year on a $10,000 investment.
Which performed better, FMUN or JHMU?
Over the past year FMUN returned -2.57% vs -0.91% for JHMU, so JHMU leads on 1-year performance. Over the longest common window we track (2 years), FMUN annualized +0.68% vs +2.32% for JHMU. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, FMUN or JHMU?
FMUN has been the more volatile fund at 5.5% annualized versus 4.8% for JHMU. Worst drawdown: FMUN -7.3% vs JHMU -6.2%.
Should I hold both FMUN and JHMU?
FMUN and JHMU 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 JHMU?
FMUN yields 3.83% while JHMU yields 4.06%, so JHMU currently pays the higher dividend yield.
Is JHMU better than FMUN?
FMUN has a lower expense ratio. JHMU 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.