FMUN vs TXXI
Fidelity Systematic Municipal Bond Index ETF vs BondBloxx IR+M Tax-Aware Intermediate Duration ETF
Which is better, FMUN or TXXI?
Nearly the same fund. FMUN costs less.
FMUN has a lower expense ratio. TXXI 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 | TXXI |
|---|---|---|
| Expense Ratio | 0.05%Best | 0.35% |
| AUM | $170M | $38M |
| Dividend Yield | 3.83% | 3.64% |
| Holdings | 1,105 | 164 |
| YTD Return | -3.63% | -2.69%Best |
| 1Y Return | -2.57% | -1.88%Best |
| Volatility (annualized) | 5.5% | 4.6%Best |
| Max Drawdown | -7.3% | -5.9%Best |
| $10,000 over 1.5 years | $10,102 | $10,283Best |
| 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).
FMUN vs TXXI 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 TXXI Performance
Fidelity Systematic Municipal Bond Index ETF (FMUN) is an ETF from Fidelity Investments (US) and BondBloxx IR+M Tax-Aware Intermediate Duration ETF (TXXI) is an ETF from BondBloxx. Over the past year FMUN returned -2.57% while TXXI returned -1.88%. Year to date, FMUN is down 3.63% versus a loss of 2.69% for TXXI.
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 4.6% for TXXI. 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 -5.9% for TXXI. 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 TXXI charges 0.35%. On a $10,000 position that is $5 vs $35 annually, a gap of $30 per year that compounds over a long holding period. On income, FMUN currently yields 3.83% against 3.64% for TXXI.
Holdings Overlap
We hold position weights for 781 holdings in FMUN and 86 in TXXI, totalling 57.8% and 42.8% 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, 26 positions appear in both.
26 positions in common, counted across the 781 positions we hold weights for in FMUN and 86 in TXXI, against full books of 1,105 and 164.
Top Shared Holdings
| Stock | Weight in FMUN | Weight in TXXI | Difference |
|---|---|---|---|
| IL CHITRN 5 12/01/20Chicago Transit Authority Sales Tax Receipts Fund | 0.17% | 1.20% | 1.03% |
| NY NYCGEN 5.25 05/01New York City Transitional Finance Authority 0.0525 05/01/2055 | 0.10% | 1.26% | 1.16% |
| NY MTATRN 5 11/15/20Ny Met Transprtn Auth Rev 5.00% 2050-11-15 | 0.01% | 1.27% | 1.26% |
| ID IDSMED 03/01/2060Idaho Health Facilities Authority, Revenue Bonds, Saint Luke'S Health System Project, Series 2025B 5 2060-03-01 | 0.12% | 1.09% | 0.97% |
| IL CHITRN 5 01/01/20Chicago Ill O Hare Intl Arpt Rev 5.0% 01-Jan-2041 | 0.01% | 1.05% | 1.04% |
| TX TXSTRN 5 08/15/20Texas Transn Commn Cent Tex Tp 5% Aug 15, 2040 | 0.09% | 0.97% | 0.88% |
| TX SANUTL 5 02/01/20San Antonio Tx Elec & Gas Revenue | 0.06% | 0.89% | 0.83% |
| TX LWCGEN 5.25 05/15Lower Colorado River Authority 5.25 2054-05-15 | 0.10% | 0.80% | 0.70% |
| NJ NJSTRN 5.25 01/01New Jersey St Turnpike Authority Tpk Rev 5.25 01/01/2052 | 0.07% | 0.78% | 0.71% |
| GA MAIUTL 09/01/2052Main Street Natural Gas Inc 4.00% 09/01/2052 | 0.59% | 0.26% | 0.33% |
You are not choosing between two funds in isolation.
Whichever of FMUN and TXXI 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 TXXI?
FMUN has an expense ratio of 0.05% while TXXI charges 0.35%. FMUN is the cheaper option, by $30 a year on a $10,000 investment.
Which performed better, FMUN or TXXI?
Over the past year FMUN returned -2.57% vs -1.88% for TXXI, so TXXI leads on 1-year performance. Over the longest common window we track (2 years), FMUN annualized +0.68% vs +1.88% for TXXI. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, FMUN or TXXI?
FMUN has been the more volatile fund at 5.5% annualized versus 4.6% for TXXI. Worst drawdown: FMUN -7.3% vs TXXI -5.9%.
Should I hold both FMUN and TXXI?
FMUN and TXXI 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 TXXI?
FMUN yields 3.83% while TXXI yields 3.64%, so FMUN currently pays the higher dividend yield.
Is TXXI better than FMUN?
FMUN has a lower expense ratio. TXXI 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.