FMUN vs VTEB
Fidelity Systematic Municipal Bond Index ETF against Vanguard Tax-Exempt Bond Index Fund: cost, size, returns, what they hold and how much of it is the same.
Overlap by weight
5%
536 shared positions
Fee gap
2 bp
VTEB is cheaper
1-year return gap
0.1 pts
VTEB is ahead
Larger fund
VTEB
$54.0B
Side by side
| FMUN | VTEB | |
|---|---|---|
| Fund | Fidelity Systematic Municipal Bond Index ETF | Vanguard Tax-Exempt Bond Index Fund |
| Issuer | Fidelity | Vanguard |
| Category | National Muni | National Muni |
| Expense ratio | 0.05% | 0.03% |
| Assets | $189M | $54.0B |
| Average daily dollar volume | $1.5M | $1.4B |
| Listed | Jul 11, 2019 | Aug 21, 2015 |
| FrenzyCap score | 73 | 100 |
| 1-month return | +4.6% | +4.5% |
| 3-month return | −1.2% | −1.1% |
| Year to date | −2.2% | −2.1% |
| 1-year return | −2.2% | −2.1% |
| 30-day volatility | 7.7% | 6.1% |
| Worst drawdown, 1 year | −9.2% | −8.2% |
| Trailing 12-month yield | 3.36% | 3.46% |
| Holdings | 1,235 | 11,156 |
| Top 10 weight | 5.1% | 1.2% |
| Look-through P/E | — | — |
| Holdings vs fair value | — | — |
| Holdings above 200-day average | — | — |
| Net flow, latest 3 reported months | +$2.0M thru Jun 2026 | +$3.6B thru Jul 2026 |
| 30-day implied volatility | — | 5.9% |
| Holdings as of | as of Nov 5, 2026issuer data | as of Sep 30, 2026issuer data |
Returns are price returns and exclude distributions. Flows are each fund's own latest reported months and may not cover the same period.
Largest shared holdings
40% of FMUN · 6% of VTEB| Holding | FMUN | VTEB |
|---|---|---|
| UNIV CAL REV 5% 05/15/36, due May 15, 2036 | 0.24% | 0.10% |
| OHIO ST UNIV GR 5% 06/01/35, due Jun 1, 2035 | 0.10% | 0.12% |
| ILL ST TOLL 5% 01/01/45, due Jan 1, 2045 | 0.08% | 0.10% |
| IL ST 5% 11/01/28, due Nov 1, 2028 | 0.08% | 0.12% |
| NJ TRANSP 5.5% 06/15/54, due Jun 15, 2054 | 0.11% | 0.07% |
| NEW YORK AUTH 5% 11/01/35, due Nov 1, 2035 | 0.22% | 0.07% |
| NEW YORK AUTH 5% 11/01/33, due Nov 1, 2033 | 0.38% | 0.06% |
| NEW YORK AUTH 5.25% 05/01/55, due May 1, 2055 | 0.15% | 0.06% |
| NJ TRANSP 5% 6/15/55, due Jun 15, 2055 | 0.05% | 0.05% |
| LA CA USD 5% 07/01/31, due Jul 1, 2031 | 0.41% | 0.05% |
| MASSACHUSET REV 5% 5/15/2055, due May 15, 2055 | 0.08% | 0.05% |
| NYC WTR 5% 06/15/51, due Jun 15, 2051 | 0.14% | 0.05% |
| CA ST 5% 03/01/35, due Mar 1, 2035 | 0.12% | 0.04% |
| NY MTA TRANSP 4% 11/15/42, due Nov 15, 2042 | 0.05% | 0.04% |
| GRAND PARKWAY T 5% 10/1/48, due Oct 1, 2048 | 0.13% | 0.04% |
| NJ TPK 5.25% 1/1/52, due Jan 1, 2052 | 0.14% | 0.04% |
| PORT NY NJ 5.25% 11/15/57, due Nov 15, 2057 | 0.09% | 0.04% |
| TRIBOROUGH BRD 5.25% 5/15/57, due May 15, 2057 | 0.26% | 0.04% |
| CHICAGO OHARE 5.25% 01/01/53, due Jan 1, 2053 | 0.08% | 0.04% |
| NYC WTR 5% 06/15/40, due Jun 15, 2040 | 0.07% | 0.04% |
| NY STATE UR D 4% 03/15/49, due Mar 15, 2049 | 0.04% | 0.04% |
| HOUSTON TX HOTS 5.5% 9/1/58, due Sep 1, 2058 | 0.09% | 0.04% |
| SALT RIVER AZ 5% 01/01/51, due Jan 1, 2051 | 0.10% | 0.04% |
| NEW YORK ST D 5.25% 03/15/48, due Mar 15, 2048 | 0.33% | 0.04% |
| NJ TPK 5% 1/1/46, due Jan 1, 2046 | 0.12% | 0.04% |
Sector mix of the stock holdings
No sector breakdown: these funds hold few classified stocks.
More: full overlap table · FMUN holdings · VTEB holdings
Fund data comes from each fund's SEC filings and issuer disclosures and is shown with the date it is as of. SEC portfolio and flow filings become public about 60 days after the period they cover. Nothing here is investment advice; see Terms.