UNOV vs FMUN

Comparison between Innovator U.S. Equity Ultra Buffer ETF - November (UNOV, ETF) and FIDELITY SYSTEMATIC MUNICIPAL BOND INDEX ETF (FMUN, ETF).

UNOV vs FMUN - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	UNOV(ETF)	FMUN(ETF)
Net Assets	$179M	$178M
Expense Ratio	0.79%	0.05%
Max Drawdown	13.84%	3.22%
Sharpe Ratio	1.51	1.10
5Y Beta	0.39	0.07

Net Assets

Winner

UNOV

$179M

FMUN

$178M

Expense Ratio

UNOV

0.79%

Winner

FMUN

0.05%

Max Drawdown

UNOV

13.84%

Winner

FMUN

3.22%

Sharpe Ratio

Winner

UNOV

1.51

FMUN

1.10

5Y Beta

UNOV

0.39

Winner

FMUN

0.07

UNOV vs FMUN - Historical Returns

Returns include dividend reinvestment.

Period	UNOV	FMUN
1 month	+0.91%	+0.89%
3 months	+4.35%	+0.35%
6 months	+4.55%	+2.16%
1 year	+13.07%	+7.36%
5 years(CAGR)	+6.49%	N/A
Max(CAGR)	+6.88%	+5.10%

Winner

UNOV

+0.91%

FMUN

+0.89%

Winner

UNOV

+4.35%

FMUN

+0.35%

Winner

UNOV

+4.55%

FMUN

+2.16%

Winner

UNOV

+13.07%

FMUN

+7.36%

5Y(CAGR)

UNOV

+6.49%

FMUN

N/A

Max(CAGR)

Winner

UNOV

+6.88%

FMUN

+5.10%

UNOV vs FMUN - Annual Returns (2019 - 2026)

Returns include dividend reinvestment.

Year	UNOV	FMUN
2026	+4.33%	+1.54%
2025	+9.95%	+4.25%
2024	+9.63%	N/A
2023	+14.32%	N/A
2022	-6.32%	N/A
2021	+4.90%	N/A
2020	+8.02%	N/A
2019	+1.87%	N/A

UNOV vs FMUN Drawdown Comparison

The maximum drawdown for UNOV was -13.84%, occurring on Mar 20, 2020. Recovery took 107 trading sessions.

The maximum drawdown for FMUN was -3.21%, occurring on Mar 27, 2026. This drawdown has not yet recovered.

The current UNOV drawdown is -1.07%. The current FMUN drawdown is -0.73%.

Rank	UNOV	FMUN
#1	-13.84% Feb 19, 2020 - Jul 22, 2020	-3.21% Feb 27, 2026 - Mar 27, 2026
#2	-9.10% Feb 19, 2025 - Jun 10, 2025	-2.93% Apr 7, 2025 - Aug 22, 2025
#3	-8.57% Dec 29, 2021 - May 26, 2023	-0.52% Nov 26, 2025 - Dec 23, 2025
#4	-7.35% Sep 14, 2023 - Dec 13, 2023	-0.46% Nov 12, 2025 - Nov 26, 2025
#5	-4.52% Jan 28, 2026 - Apr 14, 2026	-0.43% Sep 17, 2025 - Oct 7, 2025
#6	-2.14% Nov 3, 2025 - Dec 2, 2025	-0.37% Jan 16, 2026 - Jan 30, 2026
#7	-1.99% Aug 28, 2020 - Oct 5, 2020	-0.34% Aug 29, 2025 - Sep 3, 2025
#8	-1.96% Jul 31, 2023 - Aug 30, 2023	-0.26% Nov 4, 2025 - Nov 11, 2025
#9	-1.71% Nov 16, 2021 - Dec 27, 2021	-0.25% Oct 22, 2025 - Nov 4, 2025
#10	-1.59% Jul 31, 2024 - Aug 13, 2024	-0.13% Dec 29, 2025 - Jan 7, 2026
#11	-1.51% Dec 6, 2024 - Jan 21, 2025	-0.11% Aug 22, 2025 - Aug 28, 2025
#12	-1.37% Jan 20, 2021 - Mar 11, 2021	-0.11% Feb 10, 2026 - Feb 12, 2026
#13	-1.22% Dec 11, 2025 - Dec 23, 2025	-0.06% Feb 5, 2026 - Feb 9, 2026
#14	-1.19% Jan 12, 2026 - Jan 27, 2026	-0.05% Sep 11, 2025 - Sep 15, 2025
#15	-1.10% Apr 1, 2024 - May 3, 2024	-0.04% Feb 13, 2026 - Feb 19, 2026