FMUN's largest holdings are California Community Choice Financing Authority, KENTUCKY ST PUBLIC ENERGY AUTH, Salt River Project Agricultural Improvement & Power District, UNIVERSITY CA REVS, MAIN STREET NATURAL GAS INC GA. The full top list is on this page.

How concentrated is FMUN?

The top 10 holdings are 7.7% of the fund, across 1,204 positions.

The total expense ratio on record is 0.05%. That is cheaper than 92% of the 864 US-listed bond funds we track.

US-listed

FMUN

Fidelity Systematic Municipal Bond Index ETF seeks to provide a high current yield exempt from federal income tax.

Fidelity Systematic Municipal Bond Index ETF

Fidelity

1,204 holdings as of 2026-06-30 · top 10 = 7.7% · TER 0.05%

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Concentration

Well diversifiedtop 10 = 7.7%

diversifiedconcentrated

GROWTH · PRICE DEVELOPMENTrebased to 0%

Holdings

1,204

as of 2026-06-30

Top 10

7.7%

TER

0.05%

cheaper than 92% of peers

Net assets

US$183M

Largest

2.2%

P / E

–

Sections

Holdings as of 2026-06-30.

01Overview

the fund's regulatory facts

Fund currency

USD

First listed

2025-04-04

Volatility 1Y

3.3%

Tracked index

Fidelity Systematic U.S. Municipal Bond Index

How it tracks

Index, sampling

02Performance

market price return · as of 2026-09-02

-1.3%

-3.3%

-3.9%

YTD

-3.0%

+0.2%

03Holdings

50 largest · as of 2026-06-30

#	Company	Identifier	Weight
1	California Community Choice Financing Authority US	US13013JEA07	2.3
2	KENTUCKY ST PUBLIC ENERGY AUTH US	KYSPWR	0.9
3	Salt River Project Agricultural Improvement & Power District US	US79574CBW29	0.8
4	UNIVERSITY CA REVS US	US91412HSH74	0.6
5	MAIN STREET NATURAL GAS INC GA US	MAIUTL	0.6
6	Black Belt Energy Gas District US	BBEUTL	0.5
7	Fidelity Revere Street Trust US	US31635A2042	0.5
8	PENNSYLVANIA ST TPK COMMN TPK US	US709225LE48	0.5
9	CALIFORNIA ST US	US13063ENV47	0.5
10	Southeast Energy Authority A Cooperative District US	SEEPWR	0.5
11	NY PAYROLL MOBILITY TX US	US89602HAA59	0.5
12	ILLINOIS ST US	US452153JU45	0.5
13	NEW YORK TRANSPORTATION DEVELOPMENT CORP US	US650116HA79	0.4
14	Main Street Natural Gas Inc US	MAIUTL	0.4
15	Black Belt Energy Gas District US	US09182TDU88	0.4
16	Los Angeles Unified School District US	US544647HN36	0.4
17	CALIFORNIA CMNTY CHOICE FING A US	US13013JBJ43	0.4
18	LOS ANGELES CALIF WTR and PWR RE US	US544532MH43	0.4
19	NEW YORK N Y CITY TRANSITIONALFIN AUTH REV US	US64972JPS14	0.4
20	METROPOLITAN TRANSN AUTH NY RV US	US59261AYZ47	0.4
21	Colorado Health Facilities Authority US	US19648FJZ80	0.4
22	NEW YORK ST DORM AUTH ST PERSINCOME TAX REV US	US64990F6T63	0.4
23	BLACK BELT ENERGY GAS DIST AL US	US09182TFT97	0.3
24	NEW YORK ST DORM AUTH ST PERS INCOME TAX REV US	US64990KHC09	0.3
25	Public Finance Authority US	PUBTRN	0.3
26	New Jersey Transportation Trust Fund Authority US	US64613CEG96	0.3
27	NEW YORK NY CTY MUN WTR FIN AU US	US64972GK371	0.3
28	NEW YORK ST DORM AUTH ST PERSINCOME TAX REV US	US64990F6W92	0.3
29	New York State Urban Development Corp. US	US650036AF37	0.3
30	SALT LAKE CITY UT ARPT REV US	US795576FN23	0.3
31	South Miami Health Facilities Authority, Inc. (Baptist Health South Florida Obligated Group) US	US838810DW69	0.3
32	Black Belt Energy Gas District US	US09182NCT54	0.3
33	San Diego County Regional Airport Authority US	US79739GNB85	0.3
34	State of Washington US	US93974EXX92	0.3
35	NEW YORK CITY GO US	US64966QL578	0.3
36	Pennsylvania (Commonwealth of) US	US70914PN321	0.3
37	California (State of) Health Facilities Financing Authority (Stanford Health Care) US	US13032UQJ06	0.3
38	Connecticut (State of) US	US20772KGD54	0.3
39	NY PAYROLL MOBILITY TX US	US89602HBY27	0.3
40	TRIBOROUGH BRDG and TUNL AUTH NY SALES TAX REV US	US896035BE11	0.3
41	New York (City of), NY Transitional Finance Authority US	US64971XFR44	0.3
42	New Jersey Economic Development Authority US	US64577XEH52	0.3
43	Allegheny (County of), PA Hospital Development Authority (University of Pittsburgh Medical Center) US	US01728A4S26	0.3
44	ALLEGHENY CNTY PA ARPT ATH REV US	US01728LFJ61	0.3
45	NEW YORK N Y CITY TRANSITIONAL FIN AUTH REV US	US64971X7G78	0.3
46	NEW YORK CITY GO US	US64966SHH22	0.3
47	OKLAHOMA ST TPK AUTH TPK REV US	US679111F258	0.3
48	MINNESOTA ST US	US60412AWU32	0.3
49	Port Authority of New York & New Jersey US	US73358XNH16	0.3
50	State of California US	US13063DWA26	0.3

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04Exposure

Bonds 99.5%Cash 0.5%

By country

USUnited States99.0%

CurrencyUSD 99.0%

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