FLMB vs FMUB
Franklin Municipal Green Bond ETF vs Fidelity Municipal Bond Opportunities ETF
Which is better, FLMB or FMUB?
FMUB has been ahead.
FMUB 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 | FLMB | FMUB |
|---|---|---|
| Expense Ratio | 0.30%Tie | 0.30%Tie |
| AUM | $53M | $259M |
| Dividend Yield | 4.14% | 3.57% |
| Holdings | 77 | 605 |
| YTD Return | -5.00% | -2.29%Best |
| 1Y Return | -4.08% | -1.47%Best |
| 3Y Return (annualized) | +3.04% | - |
| 5Y Return (annualized) | -0.68% | - |
| Volatility (annualized) | 6.8% | 4.5%Best |
| Max Drawdown | -8.5% | -6.1%Best |
| $10,000 over 1.5 years | $10,059 | $10,488Best |
| Fund Family | Franklin Templeton Investments (US) | Fidelity Investments (US) |
| Category | Tax Preferred | Tax Preferred |
| Style | Municipal Bond | Municipal Bond |
| Inception | Aug 31, 2017 | Apr 7, 2025 |
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 12, 2026 (1.5 years).
FLMB vs FMUB 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.
FLMB vs FMUB Performance
Franklin Municipal Green Bond ETF (FLMB) is an ETF from Franklin Templeton Investments (US) and Fidelity Municipal Bond Opportunities ETF (FMUB) is an ETF from Fidelity Investments (US). Over the past year FLMB returned -4.08% while FMUB returned -1.47%. Year to date, FLMB is down 5.00% versus a loss of 2.29% for FMUB.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
FLMB has been the more volatile fund, with annualized monthly volatility of 6.8% compared with 4.5% for FMUB. 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 -8.5% for FLMB and -6.1% for FMUB. 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
FLMB charges 0.30% per year while FMUB charges 0.30%. On a $10,000 position that is $30 vs $30 annually. On income, FLMB currently yields 4.14% against 3.57% for FMUB.
Holdings Overlap
We hold position weights for 22 holdings in FLMB and 344 in FMUB, totalling 40.5% and 34.3% 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, 2 positions appear in both.
2 positions in common, counted across the 22 positions we hold weights for in FLMB and 344 in FMUB, against full books of 77 and 605.
Top Shared Holdings
| Stock | Weight in FLMB | Weight in FMUB | Difference |
|---|---|---|---|
| NY MTATRN 4 11/15/20Met Transprtn Auth Ny Revenue 4.00 2041-11-15 | 0.74% | 0.01% | 0.73% |
| MA MASDEV 4 07/01/20Massachusetts Development Finance Agency 4.0% 07/01/2047 | 0.16% | 0.11% | 0.05% |
You are not choosing between two funds in isolation.
Whichever of FLMB and FMUB 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, FLMB or FMUB?
FLMB has an expense ratio of 0.30% while FMUB charges 0.30%. At the precision these are quoted to, they cost the same.
Which performed better, FLMB or FMUB?
Over the past year FLMB returned -4.08% vs -1.47% for FMUB, so FMUB leads on 1-year performance. Over the longest common window we track (2 years), FLMB annualized +0.39% vs +3.23% for FMUB. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, FLMB or FMUB?
FLMB has been the more volatile fund at 6.8% annualized versus 4.5% for FMUB. Worst drawdown: FLMB -8.5% vs FMUB -6.1%.
Should I hold both FLMB and FMUB?
FLMB and FMUB 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, FLMB or FMUB?
FLMB yields 4.14% while FMUB yields 3.57%, so FLMB currently pays the higher dividend yield.
Is FMUB better than FLMB?
FMUB 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.