FMUN vs MINO
Fidelity Systematic Municipal Bond Index ETF vs PIMCO Municipal Income Opportunities Active Exchange-Traded Fund
Which is better, FMUN or MINO?
Nearly the same fund. FMUN costs less.
FMUN has a lower expense ratio. MINO 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 | FMUN | MINO |
|---|---|---|
| Expense Ratio | 0.05%Best | 0.39% |
| AUM | $170M | $850M |
| Dividend Yield | 3.83% | 4.17% |
| Holdings | 1,105 | 1,083 |
| YTD Return | -3.63% | -2.95%Best |
| 1Y Return | -2.57% | -2.10%Best |
| 3Y Return (annualized) | - | +3.99% |
| 5Y Return (annualized) | - | +0.59% |
| Volatility (annualized) | 5.5% | 5.4%Best |
| Max Drawdown | -7.3% | -6.9%Best |
| $10,000 over 1.5 years | $10,102 | $10,283Best |
| Fund Family | Fidelity Investments (US) | PIMCO (US) |
| Category | Tax Preferred | Tax Preferred |
| Style | Municipal Bond | Municipal Bond |
| Inception | Apr 7, 2025 | Sep 8, 2021 |
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 MINO 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 MINO Performance
Fidelity Systematic Municipal Bond Index ETF (FMUN) is an ETF from Fidelity Investments (US) and PIMCO Municipal Income Opportunities Active Exchange-Traded Fund (MINO) is an ETF from PIMCO (US). Over the past year FMUN returned -2.57% while MINO returned -2.10%. Year to date, FMUN is down 3.63% versus a loss of 2.95% for MINO.
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 5.4% for MINO. 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 -6.9% for MINO. 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
FMUN charges 0.05% per year while MINO 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 4.17% for MINO.
Holdings Overlap
We hold position weights for 781 holdings in FMUN and 226 in MINO, totalling 57.8% and 33.7% 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, 50 positions appear in both.
50 positions in common, counted across the 781 positions we hold weights for in FMUN and 226 in MINO, against full books of 1,105 and 1,083.
Top Shared Holdings
| Stock | Weight in FMUN | Weight in MINO | Difference |
|---|---|---|---|
| NY NYCGEN 5.25 05/01New York N Y City Transitional Fin Auth Rev 5.25% 01-May-2048 | 0.10% | 1.08% | 0.98% |
| NY NYSGEN 5 03/15/20New York St Dorm Auth St Perso Regd B/E 5.00000000 | 0.33% | 0.66% | 0.33% |
| 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% | 0.64% | 0.45% |
| TX SANUTL 5.25 02/01San Antonio Tex Electric & Gas 5.25 2049-02-01 | 0.10% | 0.68% | 0.58% |
| AL SEEPWR 03/01/2055Southeast Energy Authority A Cooperative District 5.25 03/01/2055 | 0.50% | 0.20% | 0.30% |
| WI PUBTRN 5.75 12/31Pub Fin A 5.75% 12/31/65 | 0.32% | 0.25% | 0.07% |
| TX HOUUTL 4 11/15/20Houutl 4.000 11/15/37 | 0.01% | 0.54% | 0.53% |
| GA GAIMED 5 02/15/20Gainesville & Hall County Hospital Authority | 0.14% | 0.32% | 0.18% |
| CA CCEDEV 01/01/2055Ca Cmnty Choice- Frn 1/55 | 0.28% | 0.15% | 0.13% |
| TX DNNSCD 5 08/15/20Denton Independent School District, Denton County, Texas, General Obligation Bonds, School Building 5 08-15-2053 | 0.13% | 0.20% | 0.07% |
You are not choosing between two funds in isolation.
Whichever of FMUN and MINO 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 MINO?
FMUN has an expense ratio of 0.05% while MINO charges 0.39%. FMUN is the cheaper option, by $34 a year on a $10,000 investment.
Which performed better, FMUN or MINO?
Over the past year FMUN returned -2.57% vs -2.10% for MINO, so MINO leads on 1-year performance. Over the longest common window we track (2 years), FMUN annualized +0.68% vs +1.88% for MINO. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, FMUN or MINO?
FMUN has been the more volatile fund at 5.5% annualized versus 5.4% for MINO. Worst drawdown: FMUN -7.3% vs MINO -6.9%.
Should I hold both FMUN and MINO?
FMUN and MINO 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, FMUN or MINO?
FMUN yields 3.83% while MINO yields 4.17%, so MINO currently pays the higher dividend yield.
Is MINO better than FMUN?
FMUN has a lower expense ratio. MINO 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.