Key stats
About Fidelity Systematic Municipal Bond Index ETF
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Inception date
Apr 4, 2025
Structure
Open-Ended Fund
Replication method
Physical
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
Returns
| 1 month | 3 months | Year to date | 1 year | 3 years | 5 years | |
|---|---|---|---|---|---|---|
| Price performance | — | — | — | — | — | — |
| NAV total return | — | — | — | — | — | — |
What's in the fund
Exposure type
Municipal
Bonds, Cash & Other100.00%
Municipal99.05%
Mutual fund0.95%
Cash−0.00%
Top 10 holdings
Dividends
Dividend payout history
Assets under management (AUM)
Fund Flows
Frequently Asked Questions
FMUN last dividends amounted to 0.15 USD. The month before, the issuer paid 0.13 USD in dividends, which shows a 11.26% increase.
FMUN assets under management is 163.58 M USD. It's fallen 0.64% over the last month.
FMUN fund flows account for 167.91 M USD (1 year). Many traders use this metric to get insight into investors' sentiment and evaluate whether it's time to buy or sell the fund.
Yes, FMUN pays dividends to its holders with the dividend yield of 3.20%. The last dividend (Aug 1, 2025) amounted to 0.15 USD. The dividends are paid monthly.
FMUN shares are issued by FMR LLC under the brand Fidelity. The ETF was launched on Apr 4, 2025, and its management style is Passive.
FMUN expense ratio is 0.05% meaning you'd have to pay 0.05% of your investment to help manage the fund.
FMUN follows the Fidelity Systematic U.S. Municipal Bond Index - Benchmark TR Gross. ETFs usually track some benchmark seeking to replicate its performance and guide asset selection and objectives.
FMUN invests in bonds.
FMUN price has fallen by −0.09% over the last month, and its yearly performance shows a −2.22% decrease. See more dynamics on FMUN price chart.
NAV returns, another gauge of an ETF dynamics, have fallen by −0.31% over the last month, showed a −0.15% decrease in three-month performance and has decreased by −0.43% in a year.
NAV returns, another gauge of an ETF dynamics, have fallen by −0.31% over the last month, showed a −0.15% decrease in three-month performance and has decreased by −0.43% in a year.
FMUN trades at a premium (0.02%) meaning the ETF is trading at a higher price than the calculated NAV.