Fidelity Systematic Municipal Bond Index ETF (FMUN)

Fidelity Systematic Municipal Bond Index ETF (FMUN) is a passively managed exchange-traded fund from Fidelity Investments, launched in 2025. It seeks to provide income exempt from federal income tax by tracking a Fidelity municipal bond index.

The index consists of U.S. dollar-denominated, investment-grade municipal bonds of various maturities issued by states, local governments and other public entities. Its rules-based, systematic construction is designed to represent the broad tax-exempt bond market while emphasizing yield within the investment-grade universe.

The fund holds a large number of individual municipal bonds and rebalances in line with its index. Income may still be subject to state and local taxes or the alternative minimum tax for some investors. The fund is listed on Nasdaq.