FMUN
·NASDAQ
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Key Stats
Assets Under Management
171.41MUSD
Fund Flows (1Y)
2.01MUSD
Dividend Yield
2.13%
Discount/Premium to NAV
-0.18%
Shares Outstanding
3.40M
Expense Ratio
0.05%
About Fidelity Systematic Municipal Bond Index ETF
Issuer
Fidelity Management & Research Company LLC
Brand
Fidelity
Inception Date
Apr 4, 2025
Structure
Open-Ended Fund
Index Tracked
Fidelity Systematic U.S. Municipal Bond IndexSM
Management Style
Passive
Dividend Treatment
Distributes
Distribution Tax Treatment
Ordinary income
Income Tax Type
Capital Gains
Max ST Capital Gains Rate
39.60%
Max LT Capital Gains Rate
20.00%
Primary Advisor
Fidelity Management & Research Co. LLC
Distributor
Fidelity Distributors Co. LLC
FMUN is a passively managed ETF designed to provide federally tax-exempt income by investing primarily in USD-denominated, investment-grade municipal bonds. The index aims to enhance exposure to municipal securities with superior risk-adjusted return and liquidity compared to traditional benchmarks. Security selection is based on minimum issue and deal sizes, fixed coupon structures, investment-grade credit ratings, and USD-denomination. The index includes instruments like mandatory put and original issue zero-coupon bonds while excluding higher-risk or less transparent securities such as taxable municipals, floating-rate bonds, derivatives, 144A issues, secondarily insured bonds, securities in default, and those tied to commercial paper programs. Index constituents are selected and weighted by market value. The index is rebalanced monthly. FMUN converted from a mutual fund to an ETF, launching with $165.06 million in net assets.
Classification
Asset Class
Fixed Income
Category
Government, Local Authority/Municipal
Focus
Investment Grade
Niche
Broad Maturities
Strategy
Vanilla
Geography
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Weighting Scheme
Market Value
Selection Criteria
Market value
Returns
1-Month | 3-Month | YTD | 1-Year | 3-Year | 5-Year | |
|---|---|---|---|---|---|---|
Price Performance | +0.55% | +0.39% | +0.41% | +1.25% | +1.25% | +1.25% |
NAV Total Return | +0.97% | +1.51% | +0.52% | -0.01% | -0.01% | -0.01% |
Ratings
No data is currently available
Ainvest’s AI-powered ETF Scoring Algorithm, built to help retail investors make smarter, data-driven decisions. Leveraging deep learning, reinforcement learning, and large language models, the algorithm scores ETFs across five key dimensions: Fund Flow, Momentum, Safety, Fundamentals, and Performance. Each factor is weighted by its correlation to future returns, resulting in a single, actionable score. Backtested over five years with consistently strong predictive accuracy. Ainvest brings institutional-grade artificial intelligence to everyday investors—transforming complexity into clarity with every score.
Holdings Analysis
Sector
No data is currently available
Asset
No data is currently available
Region
No data is currently available
Investment Style
No data is currently available
Top 10 Holdings
Symbol
Ratio
CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REV 5%
2.41%
KENTUCKY INC KY PUB ENERGY AUTH GAS SUPLLY REV
0.94%
SALT RIV PROJ AGRIC IMPT & PWR DIST ARIZ ELEC SYS REV 5%
0.89%
UNIVERSITY CALIF REVS 5%
0.66%
MAIN STR NAT GAS INC GA GAS SUPPLY REV
0.60%
BLACK BELT ENERGY GAS DIST ALA GAS PROJ REV 0%
0.57%
CALIFORNIA ST 5%
0.56%
PENNSYLVANIA ST TPK COMMN TPK REV 5%
0.55%
SOUTHEAST ENERGY AUTH COOP DIST ALA ENERGY SUPPLY REV 5.25%
0.52%
ILLINOIS ST 5%
0.50%
Top 10 Weight 8.2%
1119 Total Holdings
Is SPY better than FMUN?
Dividends
Dividend Payout History
Declaration Date | Record Date | Payment Date | Amount |
|---|---|---|---|
| 2025-12-30 | 2025-12-30 | 2026-01-02 | 0.140 |
| 2025-11-26 | 2025-11-26 | 2025-12-01 | 0.140 |
| 2025-10-30 | 2025-10-30 | 2025-11-03 | 0.135 |
| 2025-09-29 | 2025-09-29 | 2025-10-01 | 0.139 |
| 2025-08-28 | 2025-08-28 | 2025-09-02 | 0.139 |
| 2025-07-30 | 2025-07-30 | 2025-08-01 | 0.151 |
| 2025-06-27 | 2025-06-27 | 2025-07-01 | 0.134 |
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How Much Does FMUN Pay in Dividends?
Premium/Discount Chart
Premium/Discount to NAV
Price
1M
Assets Under Management
Assets Under Management
1M
Should I buy FMUN?
Fund Flows
Inflows
Outflows
1M
