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FHIGX Fidelity® Municipal Income

  • Fund
  • FHIGX
  • Price as of: Jul 19, 2019
  • $13.36 - $0.00 - 0.00%
  • Category
  • National Munis

FHIGX - Profile

Vitals

  • YTD Return 4.8%
  • 3 Yr Annualized Return -1.1%
  • 5 Yr Annualized Return 0.1%
  • Net Assets $5 B
  • Holdings in Top 10 7.7%

52 WEEK LOW AND HIGH

$13.36
$12.48
$13.36

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.46%

SALES FEES

  • Front Load N/A
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 14.00%

TRADING FEES

  • Max Redemption Fee 0.50%

Min Investment

STANDARD (TAXABLE)

$10,000

IRA

$10,000

Investment Themes

CATEGORY

National Munis
  • Fund Type Open End Mutual Fund
  • Investment Style Muni National Long

Distributions

  • YTD Total Return 4.8%
  • 3 Yr Annualized Total Return 0.0%
  • 5 Yr Annualized Total Return 0.8%
  • Capital Gain Distribution Frequency Semi-Annually
  • Net Income Ratio 3.00%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name Fidelity® Municipal Income Fund
  • Fund Family Name Fidelity Investments
  • Inception Date Dec 01, 1977
  • Shares Outstanding N/A
  • Share Class No Load
  • Currency USD
  • Domiciled Country United States
  • Manager Kevin Ramundo

Fund Description

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

FHIGX - Performance

Return Ranking - Trailing

Period FHIGX Return Category Return Low Category Return High Rank in Category (%)
YTD 4.8% 0.0% 5.7% 4.37%
1 Yr 4.2% -2.9% 5.5% 3.78%
3 Yr -1.1%* -3.2% 1.3% 85.25%
5 Yr 0.1%* -1.8% 2.2% 50.83%
10 Yr 1.0%* -8.7% 2.3% 31.00%

* Annualized


Return Ranking - Calendar

Period FHIGX Return Category Return Low Category Return High Rank in Category (%)
2018 -2.8% -4.8% 0.8% 81.44%
2017 2.0% -0.9% 5.6% 37.78%
2016 -4.3% -6.1% 7.3% 95.70%
2015 -0.7% -10.9% 2.6% 79.71%
2014 6.7% -60.4% 12.0% 20.51%

Total Return Ranking - Trailing

Period FHIGX Return Category Return Low Category Return High Rank in Category (%)
YTD 4.8% 0.0% 6.0% 4.17%
1 Yr 4.3% -2.8% 6.9% 7.36%
3 Yr 0.0%* -3.2% 3.2% 30.33%
5 Yr 0.8%* -1.8% 3.7% 21.58%
10 Yr 1.4%* -8.7% 4.8% 24.32%

* Annualized


Total Return Ranking - Calendar

Period FHIGX Return Category Return Low Category Return High Rank in Category (%)
2018 -2.2% -4.8% 1.7% 63.07%
2017 3.5% -0.9% 6.2% 12.12%
2016 -3.2% -6.1% 7.3% 80.74%
2015 -0.2% -9.6% 3.9% 48.77%
2014 6.7% -60.4% 12.0% 22.20%

NAV & Total Return History

FHIGX - Holdings

Concentration Analysis

FHIGX Category Low Category High FHIGX % Rank
Net Assets 5 B 762 K 68.3 B 12.33%
Number of Holdings 1421 3 8426 9.16%
Net Assets in Top 10 381 M -4.59 M 2.02 B 14.34%
Weighting of Top 10 7.67% 2.5% 100.0% 83.27%

Top 10 Holdings

  1. NEW JERSEY ECONOMIC DEV AUTH REV 5% 1.14%

  2. GRAND PARKWAY TRANSN CORP TEX SYS TOLL REV 5.25% 1.12%

  3. ILLINOIS FIN AUTH REV 5% 0.81%

  4. SOUTH CAROLINA ST PUB SVCS AUTH REV 5.5% 0.75%

  5. NEW JERSEY ST TRANSN TR FD AUTH 5.25% 0.70%

  6. ILLINOIS FIN AUTH REV 5% 0.67%

  7. ILLINOIS ST 5% 0.66%

  8. ILLINOIS ST 5% 0.66%

  9. MTA HUDSON RAIL YARDS TR OBLIGS REV 5% 0.58%

  10. NORTHAMPTON CNTY PA GEN PURP AUTH HOSP REV 5% 0.57%


Asset Allocation

Weighting Return Low Return High FHIGX % Rank
Bonds
98.93% 17.56% 101.83% 38.25%
Cash
1.07% -1.83% 82.44% 61.35%
Stocks
0.00% 0.00% 0.39% 83.07%
Preferred Stocks
0.00% 0.00% 8.94% 83.07%
Other
0.00% -2.64% 30.00% 81.27%
Convertible Bonds
0.00% 0.00% 2.66% 83.07%

Bond Sector Breakdown

Weighting Return Low Return High FHIGX % Rank
Municipal
98.91% 0.00% 104.99% 37.05%
Cash & Equivalents
1.07% -8.39% 82.44% 61.16%
Derivative
0.00% 0.00% 0.08% 83.27%
Securitized
0.00% 0.00% 23.62% 83.27%
Corporate
0.00% 0.00% 39.71% 86.45%
Government
0.00% -6.32% 93.35% 77.69%

Bond Geographic Breakdown

Weighting Return Low Return High FHIGX % Rank
US
98.93% 17.56% 101.37% 24.50%
Non US
0.00% 0.00% 23.82% 95.62%

FHIGX - Expenses

Operational Fees

FHIGX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.46% 0.09% 4.80% 88.67%
Management Fee 0.36% 0.00% 0.65% 38.17%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.34% N/A

Sales Fees

FHIGX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.50% 5.75% N/A
Deferred Load N/A 0.50% 5.50% N/A

Trading Fees

FHIGX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee 0.50% 0.25% 2.00% 92.00%

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.

FHIGX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 14.00% 0.00% 739.25% 13.52%

FHIGX - Distributions

Dividend Yield Analysis

FHIGX Category Low Category High FHIGX % Rank
Dividend Yield 0.02% 0.00% 2.53% 42.54%

Dividend Distribution Analysis

FHIGX Category Low Category High Category Mode
Dividend Distribution Frequency Monthly Monthly Monthly Monthly

Dividend Payout History


Net Income Ratio Analysis

FHIGX Category Low Category High FHIGX % Rank
Net Income Ratio 3.00% 0.01% 4.95% 25.25%

Capital Gain Distribution Analysis

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

FHIGX - Managers

Kevin Ramundo

Manager

Start Date

Tenure

Tenure Rank

Jun 30, 2010

9.01

9.0%

Kevin Ramundo joined Fidelity Investments in 2000, Mr. Ramundo has worked as a research analyst and portfolio manager.


Cormac Cullen

Manager

Start Date

Tenure

Tenure Rank

May 02, 2016

3.16

3.2%

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

Manager

Start Date

Tenure

Tenure Rank

Sep 11, 2018

0.8

0.8%

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


Tenure Analysis

Category Low

0.0

Category High

39.77

Category Average

7.57

Category Mode

4.32