FMUN vs UNOV
Comparison between FIDELITY SYSTEMATIC MUNICIPAL BOND INDEX ETF (FMUN, ETF) and Innovator U.S. Equity Ultra Buffer ETF - November (UNOV, ETF).
FMUN vs UNOV - Performance Comparison
Key Characteristics
Financial metrics and valuation ratios
Net Assets
FMUN
$178M
Winner
UNOV
$179M
Expense Ratio
Winner
FMUN
0.05%
UNOV
0.79%
Max Drawdown
Winner
FMUN
3.22%
UNOV
13.84%
Sharpe Ratio
FMUN
1.10
Winner
UNOV
1.51
5Y Beta
Winner
FMUN
0.07
UNOV
0.39
FMUN vs UNOV - Historical Returns
Returns include dividend reinvestment.
1M
FMUN
+0.89%
Winner
UNOV
+0.91%
3M
FMUN
+0.35%
Winner
UNOV
+4.35%
6M
FMUN
+2.16%
Winner
UNOV
+4.55%
1Y
FMUN
+7.36%
Winner
UNOV
+13.07%
5Y(CAGR)
FMUN
N/A
UNOV
+6.49%
Max(CAGR)
FMUN
+5.10%
Winner
UNOV
+6.88%
FMUN vs UNOV - Annual Returns (2019 - 2026)
Returns include dividend reinvestment.
| Year | FMUN | UNOV |
|---|---|---|
| 2026 | +1.54% | +4.33% |
| 2025 | +4.25% | +9.95% |
| 2024 | N/A | +9.63% |
| 2023 | N/A | +14.32% |
| 2022 | N/A | -6.32% |
| 2021 | N/A | +4.90% |
| 2020 | N/A | +8.02% |
| 2019 | N/A | +1.87% |
FMUN vs UNOV Drawdown Comparison
The maximum drawdown for FMUN was -3.21%, occurring on Mar 27, 2026. This drawdown has not yet recovered.
The maximum drawdown for UNOV was -13.84%, occurring on Mar 20, 2020. Recovery took 107 trading sessions.
The current FMUN drawdown is -0.73%. The current UNOV drawdown is -1.07%.
| Rank | FMUN | UNOV |
|---|---|---|
| #1 | -3.21% Feb 27, 2026 - Mar 27, 2026 | -13.84% Feb 19, 2020 - Jul 22, 2020 |
| #2 | -2.93% Apr 7, 2025 - Aug 22, 2025 | -9.10% Feb 19, 2025 - Jun 10, 2025 |
| #3 | -0.52% Nov 26, 2025 - Dec 23, 2025 | -8.57% Dec 29, 2021 - May 26, 2023 |
| #4 | -0.46% Nov 12, 2025 - Nov 26, 2025 | -7.35% Sep 14, 2023 - Dec 13, 2023 |
| #5 | -0.43% Sep 17, 2025 - Oct 7, 2025 | -4.52% Jan 28, 2026 - Apr 14, 2026 |
| #6 | -0.37% Jan 16, 2026 - Jan 30, 2026 | -2.14% Nov 3, 2025 - Dec 2, 2025 |
| #7 | -0.34% Aug 29, 2025 - Sep 3, 2025 | -1.99% Aug 28, 2020 - Oct 5, 2020 |
| #8 | -0.26% Nov 4, 2025 - Nov 11, 2025 | -1.96% Jul 31, 2023 - Aug 30, 2023 |
| #9 | -0.25% Oct 22, 2025 - Nov 4, 2025 | -1.71% Nov 16, 2021 - Dec 27, 2021 |
| #10 | -0.13% Dec 29, 2025 - Jan 7, 2026 | -1.59% Jul 31, 2024 - Aug 13, 2024 |
| #11 | -0.11% Aug 22, 2025 - Aug 28, 2025 | -1.51% Dec 6, 2024 - Jan 21, 2025 |
| #12 | -0.11% Feb 10, 2026 - Feb 12, 2026 | -1.37% Jan 20, 2021 - Mar 11, 2021 |
| #13 | -0.06% Feb 5, 2026 - Feb 9, 2026 | -1.22% Dec 11, 2025 - Dec 23, 2025 |
| #14 | -0.05% Sep 11, 2025 - Sep 15, 2025 | -1.19% Jan 12, 2026 - Jan 27, 2026 |
| #15 | -0.04% Feb 13, 2026 - Feb 19, 2026 | -1.10% Apr 1, 2024 - May 3, 2024 |
Correlation
Correlation between FMUN and UNOV is 0.87 which considered as a strong positive correlation - the stocks tend to move together.
0.87
-101
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