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FNMAX Fidelity Advisor® NY Municipal Inc A

  • Fund
  • FNMAX
  • Price as of: Dec 08, 2016
  • $13.01
  • - $0.01
  • - 0.08%
  • Category
  • Single State Municipal Bonds

FNMAX - Profile

Vitals

  • YTD Return -3.6%
  • 3 Yr Annualized Return 3.6%
  • 5 Yr Annualized Return 3.1%
  • Net Assets $1.81 B
  • Holdings in Top 10 14.5%

52 WEEK LOW AND HIGH

$13.01
$12.87
$13.98

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.79%

SALES FEES

  • Front Load 4.00%
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 17.00%

TRADING FEES

  • Max Redemption Fee 0.50%

Min Investment

STANDARD (TAXABLE)

$2,500

IRA

$2,500

Investment Themes

CATEGORY

Single State Municipal Bonds
  • Fund Type Open End Mutual Fund
  • Investment Style Muni New York Long

Distributions

  • YTD Total Return -3.6%
  • 3 Yr Annualized Total Return 2.2%
  • 5 Yr Annualized Total Return 2.2%
  • Capital Gain Distribution Frequency None
  • Net Income Ratio 2.78%
DIVIDENDS
  • Dividend Yield 0.4%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name Fidelity® New York Municipal Income Fund
  • Fund Family Name Fidelity Investments
  • Inception Date Aug 01, 2002
  • Shares Outstanding N/A
  • Share Class A
  • Currency USD
  • Domiciled Country United States
  • Manager Mark Sommer

Fund Description

The fund normally invests at least 80% of assets in investment-grade municipal securities whose interest is exempt from federal and New York State and City personal income taxes. It allocates assets across different market sectors and maturities. The fund potentially invests more than 25% of total assets in municipal securities that finance similar types of projects. It is non-diversified.

FNMAX - Performance

Return Ranking - Trailing

Period FNMAX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD -3.6% -22.9% 2.7% 63.57% 5
1 Yr -0.4% -4.5% 11.9% 60.96% 4
3 Yr 3.6% * -1.9% 8.2% 44.25% 3
5 Yr 3.1% * -3.0% 7.1% 46.07% 3
10 Yr 3.6% * -5.5% 5.3% 30.69% 2

* Annualized


Return Ranking - Calendar

Period FNMAX Return Category Return Low Category Return High Rank in Category (%) Quintile
2015 -0.4% -7.9% 1.8% 33.83% 3
2014 5.7% -0.2% 15.6% 37.65% 3
2013 -6.3% -20.2% 0.0% 25.44% 2
2012 2.9% -0.9% 13.5% 47.80% 4
2011 5.3% -0.8% 10.2% 49.88% 4

Total Return Ranking - Trailing

Period FNMAX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD -3.6% -22.9% 2.7% 63.08% 5
1 Yr -4.4% -6.6% 8.6% 86.99% 5
3 Yr 2.2% * -1.7% 8.2% 67.75% 4
5 Yr 2.2% * -3.0% 7.1% 64.88% 4
10 Yr 3.2% * -5.5% 5.7% 44.87% 3

* Annualized


Total Return Ranking - Calendar

Period FNMAX Return Category Return Low Category Return High Rank in Category (%) Quintile
2015 0.5% -7.9% 4.1% 10.11% 1
2014 6.0% -0.2% 17.8% 36.79% 3
2013 -6.3% -20.2% 0.7% 27.87% 2
2012 3.2% -0.6% 13.5% 46.02% 3
2011 5.7% -0.8% 15.9% 47.01% 3

NAV & Total Return History

FNMAX - Holdings

Filings data as of: Oct 31, 2016

Concentration Analysis

FNMAX Category Low Category High FNMAX % Rank Quintile
Net Assets 1.81 B 2.11 M 16.6 B 2.13% 1
Number of Holdings 380 18 3582 2.62% 1
Net Assets in Top 10 276 M 2.12 M 2.29 B 1.84% 1
Weighting of Top 10 14.5% 4.1% 73.5% 30.23% 5

Top 10 Holdings

  1. Metropolitan Transn Auth 5% 1.94%
  2. New York Liberty Dev Corp Libe Li 5.125% 1.78%
  3. Port Auth 5% 1.49%
  4. New York N Y City Mun Wtr Fin Wtr And 5% 1.44%
  5. New York St Twy Auth 5% 1.42%
  6. Hudson Yds Infrasct Corp Senior Re 5.75% 1.37%
  7. New York N Y City Tr Cultural Rev Bds 5% 1.34%
  8. Metropolitan Transn Auth 5% 1.26%
  9. Triborough Brdg & Tunl Auth 5% 1.26%
  10. New York N Y City Mun Wtr Fin Rev 5.375% 1.22%

Asset Allocation

Weighting Category Low Category High FNMAX % Rank Quintile
Bonds
100.00% 0.00% 101.50% 2.13% 1
Other
0.00% -0.62% 23.51% 5.52% 4
Preferred Stocks
0.00% 0.00% 0.00% 0.10% 4
Convertible Bonds
0.00% 0.00% 0.00% 0.10% 4
Cash
0.00% -1.55% 99.63% 21.51% 5
Stocks
0.00% 0.00% 0.72% 0.97% 4

Bond Sector Breakdown

Weighting Category Low Category High FNMAX % Rank Quintile
Municipal
100.00% 0.00% 106.80% 2.42% 1
Securitized
0.00% 0.00% 0.00% 0.10% 4
Cash & Equivalents
0.00% -1.55% 99.63% 21.90% 5
Corporate
0.00% 0.00% 5.37% 1.36% 4
Derivative
0.00% -0.13% 0.00% 0.10% 4
Government
0.00% -11.00% 5.03% 5.33% 4

Bond Geographic Breakdown

Weighting Category Low Category High FNMAX % Rank Quintile
US
100.00% 0.00% 101.50% 2.13% 1
Non US
0.00% 0.00% 0.00% 0.10% 4

FNMAX - Expenses

Operational Fees

FNMAX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 0.79% 0.12% 5.19% 13.47% 2
Management Fee 0.36% 0.00% 0.80% 2.62% 1
12b-1 Fee 0.25% 0.00% 1.00% 2.43% 3
Administrative Fee N/A 0.00% 0.33% N/A N/A

Sales Fees

FNMAX Fees (% of AUM) Category Low Category High FNMAX Rank Quintile
Front Load 4.00% 1.00% 5.75% 2.17% 3
Deferred Load N/A 0.50% 5.50% N/A N/A

Trading Fees

FNMAX Fees (% of AUM) Category Low Category High FNMAX Rank Quintile
Max Redemption Fee 0.50% 0.50% 2.00% 11.11% 2

Turnover Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

FNMAX Fees (% of AUM) Category Low Category High FNMAX Rank Quintile
Turnover 17.00% 0.00% 219.00% 4.70% 4

FNMAX - Distributions

Dividend Yield Analysis

FNMAX Category Low Category High FNMAX % Rank Quintile
Dividend Yield 0.4% 0.00% 0.99% 12.55% 2

Dividend Distribution Analysis

FNMAX Category Low Category High Category Mode
Dividend Distribution Frequency Monthly Annually Monthly Annually

Dividend Payout History


Net Income Ratio Analysis

FNMAX Category Low Category High FNMAX % Rank Quintile
Net Income Ratio 2.78% 0.00% 7.39% 16.76% 4

Capital Gain Distribution Analysis

FNMAX Category Low Category High Capital Mode
Capital Gain Distribution Frequency None Annually Daily Annually

FNMAX - Managers

Mark Sommer

Manager

Start Date

Jun 30, 2002

Tenure

14.43

Tenure Rank

3.4%

Sommer is manager of Fidelity funds. Since joining Fidelity in 1992, Sommer has worked as an analyst and manager.


Kevin Ramundo

Manager

Start Date

May 02, 2016

Tenure

0.58

Tenure Rank

10.8%

Kevin Ramundo is lead portfolio manager of Fidelity Municipal Income 2017 Fund, Fidelity Municipal Income 2021 Fund, and Fidelity Municipal Income 2023 Fund and co-manager of Fidelity Municipal Income 2015 Fund and Fidelity Municipal Income 2019 Fund, which he has managed (other than Fidelity Municipal Income 2023 Fund) since May 2011. He has managed Fidelity Municipal Income 2023 Fund since April 2013. He also manages other funds. Since joining Fidelity Investments in 2000, Mr. Ramundo has worked as a research analyst and portfolio manager.


Cormac Cullen

Manager

Start Date

May 02, 2016

Tenure

0.58

Tenure Rank

10.8%

Since joining Fidelity Investments in 2007, Mr. Cullen has worked as a research analyst, structured analyst, senior legal counsel, and portfolio manager.


Tenure Analysis

Category Low

0.0

Category High

37.2

Category Average

9.26

Category Mode

1.9