FMB vs SPY

Comparison between FIRST TRUST MANAGED MUNICIPAL ETF (FMB, ETF) and SPDR S&P 500 ETF Trust (SPY, ETF).

5-Year PerformanceSPY has outperformed FMB, delivering a return of +13.3% compared to +0.8%

FMB vs SPY - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	FMB(ETF)	SPY(ETF)
Net Assets	$2B	$652B
Expense Ratio	0.39%	0.09%
Max Drawdown	16.84%	56.47%
Sharpe Ratio	0.92	2.07
5Y Beta	0.02	1.00
P/E Ratio	N/A	28.24
Forward P/E	N/A	21.85
5Y Dividends CAGR	7.87%	5.43%
5Y EPS CAGR	N/A	25.79%
Debt to Equity	N/A	22.35%
P/S Ratio	N/A	3.55
P/B Ratio	N/A	5.29

Net Assets

FMB

$2B

Winner

SPY

$652B

Expense Ratio

FMB

0.39%

Winner

SPY

0.09%

Max Drawdown

Winner

FMB

16.84%

SPY

56.47%

Sharpe Ratio

FMB

0.92

Winner

SPY

2.07

5Y Beta

Winner

FMB

0.02

SPY

1.00

P/E Ratio

FMB

N/A

SPY

28.24

Forward P/E

FMB

N/A

SPY

21.85

5Y Dividends CAGR

Winner

FMB

7.87%

SPY

5.43%

5Y EPS CAGR

FMB

N/A

SPY

25.79%

Debt to Equity

FMB

N/A

SPY

22.35%

P/S Ratio

FMB

N/A

SPY

3.55

P/B Ratio

FMB

N/A

SPY

5.29

FMB vs SPY - Historical Returns

Returns include dividend reinvestment.

Period	FMB	SPY
1 month	+0.50%	+9.11%
3 months	-0.04%	+6.59%
6 months	+1.70%	+10.56%
1 year	+6.45%	+32.04%
5 years(CAGR)	+0.76%	+13.35%
10 years(CAGR)	+2.31%	+15.49%
Max(CAGR)	+2.95%	+8.50%

FMB

+0.50%

Winner

SPY

+9.11%

FMB

-0.04%

Winner

SPY

+6.59%

FMB

+1.70%

Winner

SPY

+10.56%

FMB

+6.45%

Winner

SPY

+32.04%

5Y(CAGR)

FMB

+0.76%

Winner

SPY

+13.35%

10Y(CAGR)

FMB

+2.31%

Winner

SPY

+15.49%

Max(CAGR)

FMB

+2.95%

Winner

SPY

+8.50%

FMB vs SPY - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

Year	FMB	SPY
2026	+1.20%	+8.27%
2025	+3.55%	+18.00%
2024	+2.11%	+25.59%
2023	+6.09%	+26.72%
2022	-9.81%	-18.64%
2021	+2.41%	+30.52%
2020	+4.36%	+17.28%
2019	+8.01%	+31.09%
2018	+1.23%	-5.24%
2017	+7.24%	+20.78%
2016	+1.40%	+13.59%
2015	+4.50%	+1.31%
2014	+4.26%	+14.56%
2013	N/A	+29.00%
2012	N/A	+14.17%
2011	N/A	+0.85%
2010	N/A	+13.14%
2009	N/A	+22.67%
2008	N/A	-36.25%
2007	N/A	+5.32%
2006	N/A	+13.85%
2005	N/A	+5.32%
2004	N/A	+10.75%
2003	N/A	+24.18%
2002	N/A	-22.42%
2001	N/A	-10.13%
2000	N/A	-8.84%
1999	N/A	+8.61%

FMB vs SPY Drawdown Comparison

The maximum drawdown for FMB was -14.16%, occurring on Oct 26, 2022. Recovery took 1067 trading sessions.

The maximum drawdown for SPY was -55.20%, occurring on Mar 9, 2009. Recovery took 1224 trading sessions.

The current FMB drawdown is -0.96%.

Rank	FMB	SPY
#1	-14.16% Jul 19, 2021 - Oct 16, 2025	-55.20% Oct 9, 2007 - Aug 16, 2012
#2	-13.92% Mar 6, 2020 - Dec 3, 2020	-47.50% Mar 24, 2000 - Oct 26, 2006
#3	-6.01% Sep 7, 2016 - Jun 6, 2017	-33.70% Feb 19, 2020 - Aug 10, 2020
#4	-2.73% Feb 27, 2026 - Mar 26, 2026	-24.50% Jan 3, 2022 - Dec 13, 2023
#5	-2.10% Feb 10, 2021 - May 25, 2021	-19.34% Sep 20, 2018 - Apr 12, 2019
#6	-2.01% Aug 15, 2018 - Dec 7, 2018	-18.76% Feb 19, 2025 - Jun 26, 2025
#7	-2.00% Apr 14, 2015 - Oct 7, 2015	-13.02% Jul 20, 2015 - Apr 18, 2016
#8	-1.96% Dec 6, 2017 - Jul 13, 2018	-10.10% Jan 26, 2018 - Aug 6, 2018
#9	-1.59% Jan 28, 2015 - Mar 19, 2015	-9.44% Sep 2, 2020 - Nov 11, 2020
#10	-1.51% Oct 30, 2014 - Dec 12, 2014	-9.30% Jan 19, 2000 - Mar 17, 2000
#11	-1.48% Sep 3, 2019 - Oct 8, 2019	-9.05% Jul 19, 2007 - Oct 5, 2007
#12	-1.34% Oct 8, 2019 - Jan 3, 2020	-8.88% Jan 27, 2026 - Apr 14, 2026
#13	-1.20% May 16, 2014 - Jun 26, 2014	-8.41% Jul 16, 2024 - Sep 19, 2024
#14	-1.16% Jun 26, 2014 - Jul 28, 2014	-7.35% Sep 14, 2012 - Jan 2, 2013
#15	-1.05% Feb 19, 2016 - Apr 4, 2016	-7.27% Sep 18, 2014 - Oct 31, 2014

Correlation

Correlation between FMB and SPY is 0.85 which considered as a strong positive correlation - the stocks tend to move together.

0.85

-101

Dividend Comparison (1999 - 2026)

FMB vs SPY dividend yield comparison.

Year	FMB	SPY
2026	1.21%	0.24%
2025	3.37%	1.07%
2024	3.22%	1.21%
2023	2.98%	1.40%
2022	2.47%	1.65%
2021	1.96%	1.20%
2020	2.19%	1.52%
2019	2.47%	1.75%
2018	2.58%	2.04%
2017	2.49%	1.80%
2016	2.93%	2.03%
2015	3.07%	2.06%
2014	1.70%	1.87%
2013	0.00%	1.81%
2012	0.00%	2.18%
2011	0.00%	2.05%
2010	0.00%	1.80%
2009	0.00%	1.95%
2008	0.00%	3.02%
2007	0.00%	1.85%
2006	0.00%	1.73%
2005	0.00%	1.73%
2004	0.00%	1.82%
2003	0.00%	1.47%
2002	0.00%	1.70%
2001	0.00%	1.25%
2000	0.00%	1.15%
1999	0.00%	0.24%