FMUN ETF — Fidelity Systematic Municipal Bond Index ETF

Fidelity Systematic Municipal Bond Index ETF (FMUN)

FMUN is a low-cost ETF. As of August 19, 2026, its distribution rate is 3.29%, its trailing-12-month yield is 3.33%, its expense ratio is 0.05%. Dividend Vision Distribution Safety Score™ is 100/100 (Safe). Fund total return is 4.9% over the past 1.4 years, 49.4 points behind SPY at 54.3%.

At the current 3.29% distribution rate, a $10,000 investment would generate approximately $329 per year, or $27.42 per month on an equivalent basis.

Fidelity Systematic Municipal Bond Index ETF is an ETF that tracks a custom index of U.S. investment-grade municipal bonds, seeking to emphasize securities with higher risk-adjusted performance and liquidity relative to traditional market-cap-weighted municipal bond indices; at least 80% of assets are held in municipal securities whose interest is exempt from federal income tax. The fund offers a moderate current distribution rate paid monthly and carries a very low expense ratio of 0.05%. It appeals to income-focused investors seeking tax-advantaged municipal bond exposure with a systematic, rules-based approach.

FMUN performance versus SPY

Data as of August 19, 2026.

Fund total return is 4.9% over the past 1.4 years, 49.4 points behind SPY at 54.3%. Its deepest 1-year drawdown was 3.2%.

FMUN key facts

Data as of August 19, 2026.

Distribution Safety Score™

100 · Safe

Safety-Adjusted Yield

3.29%

Issuer

Fidelity Investments

Asset type

ETF

Asset class

Fixed Income

Inception date

07/11/2019

Expense ratio

0.05%

Distribution rate

3.29%

Distribution frequency

Monthly

Trailing yield

3.33%

Last close

$49.59

AUM

$180,266,154

Average volume

11021.0

Last dividend

$0.1360

Ex-dividend date

07/30/2026

Payment date

08/03/2026

Beta

1.03

How Dividend Vision calculates yield and returns

Distribution rate (3.29%) is the latest regular payout annualized by the fund's stated frequency, divided by the last close. Issuers often publish this as “Distribution Rate” on the fact sheet. Trailing-12-month yield (3.33%) is the sum of distributions paid in the last 12 months, split-adjusted, divided by the last close. It lags a recent raise or cut. We show a 30-day SEC yield when the fund publishes one. Schwab and other issuers may report a TTM distribution yield or SEC yield on a different date — all can be valid; they are not interchangeable. Fund total return uses split-adjusted close with distributions reinvested from the first stored bar on or after inception through the latest bar, compared with the same window on the benchmark. That is what the fund did, not your personal gain/loss. Figures below use Dividend Vision data as of August 19, 2026.

Distribution rate methodology · Distribution Safety Score methodology · SEC yield

Sources and review

Data as of August 19, 2026.

Primary sources: Fidelity Investments; prices and distributions from Dividend Vision, derived from vendor EOD data.

Reviewed by Bert Sweet, CEO and Co-owner of Dividend Vision. Methodology: Distribution Safety Score.

FMUN risks and drawbacks

FMUN's current distribution rate is moderate, not a high-yield payout — the strategy is dividend quality more than maximum income. Total return has trailed SPY over the available window. The deepest 1-year drawdown on record here is 3.2%.

Who may consider FMUN — and who may not

FMUN may suit someone looking for low-cost broad dividend exposure, a high Distribution Safety Score, moderate current income with a quality tilt. It is a weaker fit for investors hunting double-digit covered-call yields; investors whose main goal is matching SPY total return. This is educational context, not a recommendation to buy or sell.

Frequently asked questions

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