FCMTX: Fidelity Advisor® California Muni Inc M

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FCMTX Fidelity Advisor® California Muni Inc M


Profile

FCMTX - Profile

Vitals

  • YTD Return 0.9%
  • 3 Yr Annualized Return 0.8%
  • 5 Yr Annualized Return 0.5%
  • Net Assets $2.22 B
  • Holdings in Top 10 7.3%

52 WEEK LOW AND HIGH

$13.41
$12.11
$13.71

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.75%

SALES FEES

  • Front Load 4.00%
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 11.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

  • Standard (Taxable) $0
  • IRA N/A

Fund Classification


Distributions

  • YTD Total Return 0.9%
  • 3 Yr Annualized Total Return 0.9%
  • 5 Yr Annualized Total Return 0.7%
  • Capital Gain Distribution Frequency Semi-Annually
  • Net Income Ratio 2.37%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Fidelity® California Municipal Income Fund
  • Fund Family Name
    Fidelity Investments
  • Inception Date
    Aug 01, 2002
  • Shares Outstanding
    N/A
  • Share Class
    M
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Cormac Cullen

Fund Description

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


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Categories

Fund Company Quick Screens

FCMTX - Fund Company Quick Screens


Performance

FCMTX - Performance

Return Ranking - Trailing

Period FCMTX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.9% -3.0% 303.2% 33.33%
1 Yr 0.4% -3.4% 297.6% 35.80%
3 Yr 0.8%* -0.9% 58.8% 45.40%
5 Yr 0.5%* -0.7% 31.6% 45.65%
10 Yr 0.8%* -0.3% 15.0% 37.50%

* Annualized

Return Ranking - Calendar

Period FCMTX Return Category Return Low Category Return High Rank in Category (%)
2019 4.6% 2.4% 7.5% 39.88%
2018 -2.3% -4.3% 2.8% 39.39%
2017 2.1% -0.2% 6.8% 53.02%
2016 -3.2% -4.7% -1.7% 59.29%
2015 0.2% -1.9% 1.8% 53.28%

Total Return Ranking - Trailing

Period FCMTX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.9% -3.0% 303.2% 33.33%
1 Yr 0.4% -3.4% 297.6% 35.80%
3 Yr 0.9%* -0.9% 59.1% 34.36%
5 Yr 0.7%* -0.7% 31.9% 40.58%
10 Yr 0.9%* -0.3% 15.5% 39.29%

* Annualized

Total Return Ranking - Calendar

Period FCMTX Return Category Return Low Category Return High Rank in Category (%)
2019 4.6% 2.4% 7.5% 39.88%
2018 -2.3% -4.3% 2.8% 41.82%
2017 2.7% -0.2% 6.9% 46.98%
2016 -3.2% -4.6% 0.8% 62.14%
2015 0.2% -1.9% 3.7% 58.39%

NAV & Total Return History


Holdings

FCMTX - Holdings

Concentration Analysis

FCMTX Category Low Category High FCMTX % Rank
Net Assets 2.22 B 2.99 M 17.2 B 15.25%
Number of Holdings 748 20 4740 9.04%
Net Assets in Top 10 162 M 1.83 M 3.01 B 29.94%
Weighting of Top 10 7.31% 3.5% 61.1% 92.66%

Top 10 Holdings

  1. SAN FRANCISCO CALIF CITY & CNTY ARPTS COMMN INTL ARPT REV 5% 1.20%
  2. LOS ANGELES CALIF DEPT WTR & PWR REV 5% 1.01%
  3. CALIFORNIA PUB FIN AUTH REV 0.04% 0.91%
  4. PALOMAR HEALTH CALIF REV 5% 0.68%
  5. CALIFORNIA INFRASTRUCTURE & ECONOMIC DEV BK LEASE REV 5% 0.62%
  6. LOS ANGELES CALIF DEPT WTR & PWR REV 5% 0.60%
  7. PERRIS CALIF UN HIGH SCH DIST 4% 0.58%
  8. ALAMEDA CORRIDOR TRANSN AUTH CALIF REV 5% 0.58%
  9. LONG BEACH CALIF HBR REV 5% 0.57%
  10. SAN FRANCISCO CALIF CITY & CNTY ARPTS COMMN INTL ARPT REV 5% 0.57%

Asset Allocation

Weighting Return Low Return High FCMTX % Rank
Bonds
99.63% 88.08% 101.44% 40.68%
Cash
0.37% -1.43% 11.92% 54.24%
Stocks
0.00% 0.00% 0.10% 9.60%
Preferred Stocks
0.00% 0.00% 0.00% 7.34%
Other
0.00% 0.00% 3.39% 10.17%
Convertible Bonds
0.00% 0.00% 0.00% 7.34%

Bond Sector Breakdown

Weighting Return Low Return High FCMTX % Rank
Municipal
99.63% 49.29% 101.06% 41.81%
Cash & Equivalents
0.37% -0.27% 13.85% 57.06%
Derivative
0.00% 0.00% 0.00% 7.34%
Securitized
0.00% 0.00% 0.00% 7.34%
Corporate
0.00% 0.00% 2.58% 20.34%
Government
0.00% -0.79% 49.18% 11.86%

Bond Geographic Breakdown

Weighting Return Low Return High FCMTX % Rank
US
99.57% 85.92% 101.11% 7.91%
Non US
0.06% 0.00% 9.10% 78.53%

Expenses

FCMTX - Expenses

Operational Fees

FCMTX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.75% 0.09% 3.74% 51.70%
Management Fee 0.35% 0.00% 0.63% 17.51%
12b-1 Fee 0.25% 0.00% 1.00% 34.95%
Administrative Fee N/A 0.01% 0.33% N/A

Sales Fees

FCMTX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 4.00% 2.25% 4.75% 42.86%
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

FCMTX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 1.00% 62.50%

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.

FCMTX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 11.00% 2.00% 235.00% 15.91%

Distributions

FCMTX - Distributions

Dividend Yield Analysis

FCMTX Category Low Category High FCMTX % Rank
Dividend Yield 0.00% 0.00% 0.60% 11.30%

Dividend Distribution Analysis

FCMTX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Monthly Monthly Monthly

Net Income Ratio Analysis

FCMTX Category Low Category High FCMTX % Rank
Net Income Ratio 2.37% 0.73% 3.84% 68.18%

Capital Gain Distribution Analysis

FCMTX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Semi-Annually Annually Annually Annually

Dividend Payout History

View More +

Fund Manager Analysis

FCMTX - Fund Manager Analysis

Managers

Cormac Cullen


Start Date

Tenure

Tenure Rank

May 02, 2016

4.33

4.3%

Mr. Cullen has worked as a research analyst and portfolio manager with Fidelity since 2010. Prior to assuming his current position, from 2007 to 2010, Mr. Cullen supported FIAM’s Fixed Income Division as senior legal counsel.

Elizah McLaughlin


Start Date

Tenure

Tenure Rank

Sep 11, 2018

1.97

2.0%

Since joining Fidelity Investments in 1997, Ms. McLaughlin has worked as an analyst and portfolio manager.

Michael Maka


Start Date

Tenure

Tenure Rank

Mar 31, 2020

0.42

0.4%

Tenure Analysis

Category Low Category High Category Average Category Mode
0.17 31.69 9.23 7.51