FMUN vs SCHD
Fidelity Systematic Municipal Bond Index ETF vs Schwab US Dividend Equity ETF
Which is better, FMUN or SCHD?
Municipal Bond against Large Cap Value.
FMUN has a lower expense ratio. SCHD led over 1Y and the full window.
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 | SCHD |
|---|---|---|
| Expense Ratio | 0.05%Best | 0.06% |
| AUM | $180M | $112.1B |
| Dividend Yield | 3.64% | 3.00% |
| Holdings | 1,105 | 103 |
| YTD Return | -2.01% | +24.23%Best |
| 1Y Return | -0.46% | +27.90%Best |
| 3Y Return (annualized) | - | +15.55% |
| 5Y Return (annualized) | - | +9.97% |
| Volatility (annualized) | 4.5%Best | 12.1% |
| Max Drawdown | -4.4%Best | -4.6% |
| $10,000 over 1.4 years | $10,264 | $14,068Best |
| Fund Family | Fidelity Investments (US) | Charles Schwab Asset Management |
| Category | Tax Preferred | Equity |
| Style | Municipal Bond | Large Cap Value |
| Inception | Apr 7, 2025 | Oct 20, 2011 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 1.4 years row, are measured over the window both funds cover: Apr 7, 2025 to Sep 17, 2026 (1.4 years).
FMUN vs SCHD 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 1.4 years both funds cover.
FMUN vs SCHD Performance
Fidelity Systematic Municipal Bond Index ETF (FMUN) is an ETF from Fidelity Investments (US) and Schwab US Dividend Equity ETF (SCHD) is an ETF from Charles Schwab Asset Management. Over the past year FMUN returned -0.46% while SCHD returned +27.90%. Year to date, FMUN is down 2.01% versus a gain of 24.23% for SCHD.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SCHD has been the more volatile fund, with annualized monthly volatility of 12.1% compared with 4.5% for FMUN. 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 -4.4% for FMUN and -4.6% for SCHD. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.23. They move largely independently of each other.
Fees and Cost Over Time
FMUN charges 0.05% per year while SCHD charges 0.06%. On a $10,000 position that is $5 vs $6 annually, a gap of $1 per year that compounds over a long holding period. On income, FMUN currently yields 3.64% against 3.00% for SCHD.
Holdings Overlap
We hold position weights for 1 holding in FMUN and 100 in SCHD, totalling 0.1% and 100.0% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
The two holdings books were reported 62 days apart, FMUN as of Jun 30, 2026 and SCHD as of Aug 31, 2026, so some of the difference between them is the time between the two reports rather than the funds.
0 positions in common, counted across the 1 positions we hold weights for in FMUN and 100 in SCHD, against full books of 1,105 and 103.
You are not choosing between two funds in isolation.
Whichever of FMUN and SCHD 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 SCHD?
FMUN has an expense ratio of 0.05% while SCHD charges 0.06%. FMUN is the cheaper option, by $1 a year on a $10,000 investment.
Which performed better, FMUN or SCHD?
Over the past year FMUN returned -0.46% vs +27.90% for SCHD, so SCHD leads on 1-year performance. Over the longest common window we track (1 years), FMUN annualized +1.88% vs +27.61% for SCHD. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, FMUN or SCHD?
SCHD has been the more volatile fund at 12.1% annualized versus 4.5% for FMUN. Worst drawdown: FMUN -4.4% vs SCHD -4.6%.
Should I hold both FMUN and SCHD?
FMUN and SCHD have a monthly-return correlation of 0.23, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, FMUN or SCHD?
FMUN yields 3.64% while SCHD yields 3.00%, so FMUN currently pays the higher dividend yield.
Is SCHD better than FMUN?
FMUN has a lower expense ratio. SCHD led over 1Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.