FFLV vs FMN
Fidelity Fundamental Large Cap Value ETF vs Federated Hermes Premier Municipal Income Fund
Quick Verdict
FFLV has a lower expense ratio. FFLV delivered stronger 1-year returns. FMN offers more diversification with 150 holdings.
Side-by-Side Comparison
| Metric | FFLV | FMN | Winner |
|---|---|---|---|
| Expense Ratio | 0.38% | 0.75% | |
| AUM | $16M | $16M | |
| Dividend Yield | 1.36% | 4.43% | |
| Holdings | 109 | 150 | |
| YTD Return | +17.89% | +1.66% | |
| 1Y Return | +29.13% | +8.44% | |
| 3Y Return (annualized) | - | +7.15% | |
| 5Y Return (annualized) | - | -3.05% | |
| Volatility (annualized) | 12.3% | 14.7% | |
| Max Drawdown | -16.7% | -53.4% | |
| Fund Family | Fidelity Investments (US) | Federated Hermes | |
| Category | Equity | Tax Preferred | |
| Inception | Feb 9, 2024 | Dec 20, 2002 |
FFLV vs FMN Performance
Fidelity Fundamental Large Cap Value ETF (FFLV) is a ETF from Fidelity Investments (US) and Federated Hermes Premier Municipal Income Fund (FMN) is a ETF from Federated Hermes. Over the past year FFLV returned +29.13% while FMN returned +8.44%. Year to date, FFLV is up 17.89% versus a gain of 1.66% for FMN.
Risk: Volatility and Drawdowns
FMN has been the more volatile fund, with annualized monthly volatility of 14.7% compared with 12.3% for FFLV. 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 -16.7% for FFLV and -53.4% for FMN. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.36. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
FFLV charges 0.38% per year while FMN charges 0.75%. On a $10,000 position that is $38 vs $75 annually, a gap of $37 per year that compounds over a long holding period. On income, FFLV currently yields 1.36% against 4.43% for FMN.
Holdings Overlap
FFLV and FMN share 0 holdings out of 197 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, FFLV or FMN?
FFLV has an expense ratio of 0.38% while FMN charges 0.75%. FFLV is the cheaper option. On a $10,000 investment, that is $37 per year of difference.
Which performed better, FFLV or FMN?
Over the past year FFLV returned +29.13% vs +8.44% for FMN, so FFLV leads on 1-year performance. Over the longest common window we track (3 years), FFLV annualized +17.29% vs -0.28% for FMN. Past performance does not guarantee future results.
Which is riskier, FFLV or FMN?
FMN has been the more volatile fund at 14.7% annualized versus 12.3% for FFLV. Worst drawdown: FFLV -16.7% vs FMN -53.4%.
Should I hold both FFLV and FMN?
FFLV and FMN have a monthly-return correlation of 0.36, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between FFLV and FMN?
FFLV and FMN share 0 common holdings with a 0.0% weight overlap. Combined, they hold 197 unique securities.
Which pays a higher dividend, FFLV or FMN?
FFLV yields 1.36% while FMN yields 4.43%, so FMN currently pays the higher dividend yield.
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