FOCFX: Fidelity® Municipal Income 2021

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FOCFX Fidelity® Municipal Income 2021


Profile

FOCFX - Profile

Vitals

  • YTD Return -0.3%
  • 3 Yr Annualized Return -0.7%
  • 5 Yr Annualized Return -0.1%
  • Net Assets $49.9 M
  • Holdings in Top 10 25.7%

52 WEEK LOW AND HIGH

$10.76
$10.54
$10.88

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.40%

SALES FEES

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

BROKERAGE FEES

  • Turnover 3.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

  • Standard (Taxable) $0
  • IRA N/A

Fund Classification


Distributions

  • YTD Total Return -0.3%
  • 3 Yr Annualized Total Return -0.7%
  • 5 Yr Annualized Total Return -0.1%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.07%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Fidelity® Municipal Income 2021 Fund
  • Fund Family Name
    Fidelity Investments
  • Inception Date
    May 19, 2011
  • Shares Outstanding
    N/A
  • Share Class
    Other
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Kevin Ramundo

Fund Description

The fund invests at least 80% of its assets in investment-grade municipal securities whose interest is exempt from federal income tax (but may be subject to the federal alternative minimum tax). It invests more than 25% of total assets in municipal securities that finance similar types of projects. The fund liquidates shortly after the fund's target end-date of June 30, 2021.


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Categories

Fund Company Quick Screens

FOCFX - Fund Company Quick Screens


Performance

FOCFX - Performance

Return Ranking - Trailing

Period FOCFX Return Category Return Low Category Return High Rank in Category (%)
YTD -0.3% -36.4% 947.9% 63.71%
1 Yr -0.4% -35.2% 970.2% 78.38%
3 Yr -0.7%* -10.2% 120.4% 89.15%
5 Yr -0.1%* -5.2% 60.2% 71.36%
10 Yr N/A* -5.0% 3.6% N/A

* Annualized

Return Ranking - Calendar

Period FOCFX Return Category Return Low Category Return High Rank in Category (%)
2019 0.6% -1.7% 18.3% 98.08%
2018 -0.6% -12.4% 0.8% 9.46%
2017 0.5% -6.0% 20.3% 71.24%
2016 -2.3% -7.8% 8.6% 66.61%
2015 0.5% -18.3% 3.0% 3.56%

Total Return Ranking - Trailing

Period FOCFX Return Category Return Low Category Return High Rank in Category (%)
YTD -0.3% -36.4% 947.9% 63.71%
1 Yr -0.4% -35.2% 970.2% 78.38%
3 Yr -0.7%* -7.3% 120.4% 90.61%
5 Yr -0.1%* -5.2% 60.2% 73.90%
10 Yr N/A* -5.0% 6.9% N/A

* Annualized

Total Return Ranking - Calendar

Period FOCFX Return Category Return Low Category Return High Rank in Category (%)
2019 0.6% -1.7% 18.3% 98.15%
2018 -0.6% -11.7% 3.1% 15.76%
2017 0.5% -6.0% 27.0% 75.37%
2016 -2.2% -7.8% 10.7% 66.70%
2015 0.7% -14.2% 4.2% 5.71%

NAV & Total Return History


Holdings

FOCFX - Holdings

Concentration Analysis

FOCFX Category Low Category High FOCFX % Rank
Net Assets 49.9 M 634 K 264 B 92.48%
Number of Holdings 99 1 17920 82.90%
Net Assets in Top 10 12.2 M -587 M 20.8 B 89.86%
Weighting of Top 10 25.72% 2.3% 100.0% 37.83%

Top 10 Holdings

  1. CLARK CNTY NEV ARPT REV 5% 5.95%
  2. NEW JERSEY ECONOMIC DEV AUTH REV 5% 2.22%
  3. NEW JERSEY HEALTH CARE FACS FING AUTH 5% 2.21%
  4. PHOENIX ARIZ CIVIC IMPT CORP ARPT REV 5% 2.21%
  5. MICHIGAN FIN AUTH REV 5% 2.20%
  6. LAKE CNTY FLA SCH BRD CTFS PARTN 5% 2.20%
  7. UNIVERSITY TOLEDO OHIO GEN RECPT 5% 2.20%
  8. HOUSTON TEX ARPT SYS REV 5% 2.19%
  9. ILLINOIS MUN ELEC AGY PWR SUPPLY SYS REV 5% 2.17%
  10. INFIRMARY HEALTH SYS SPL CARE FACS FING AUTH MOBILE ALA REV 5% 2.17%

Asset Allocation

Weighting Return Low Return High FOCFX % Rank
Bonds
100.00% 71.08% 157.69% 11.09%
Stocks
0.00% -0.38% 18.10% 62.35%
Preferred Stocks
0.00% 0.00% 9.11% 66.02%
Other
0.00% -27.60% 53.37% 61.00%
Convertible Bonds
0.00% 0.00% 6.53% 77.22%
Cash
0.00% -57.68% 27.48% 87.07%

Bond Sector Breakdown

Weighting Return Low Return High FOCFX % Rank
Municipal
100.00% 0.00% 100.11% 2.86%
Derivative
0.00% -0.83% 31.72% 64.46%
Cash & Equivalents
0.00% -26.49% 24.02% 97.03%
Securitized
0.00% 0.00% 98.72% 80.01%
Corporate
0.00% 0.00% 99.41% 83.08%
Government
0.00% -2.21% 100.00% 81.35%

Bond Geographic Breakdown

Weighting Return Low Return High FOCFX % Rank
US
100.00% 58.40% 150.78% 6.68%
Non US
0.00% -38.91% 29.50% 91.45%

Expenses

FOCFX - Expenses

Operational Fees

FOCFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.40% 0.01% 34.57% 88.92%
Management Fee 0.30% 0.00% 1.25% 26.54%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.00% 0.50% N/A

Sales Fees

FOCFX 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 0.25% 5.50% N/A

Trading Fees

FOCFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.50% 2.00% 91.04%

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.

FOCFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 3.00% 0.00% 489.00% 0.56%

Distributions

FOCFX - Distributions

Dividend Yield Analysis

FOCFX Category Low Category High FOCFX % Rank
Dividend Yield 0.00% 0.00% 6.10% 68.70%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

FOCFX Category Low Category High FOCFX % Rank
Net Income Ratio 2.07% -0.71% 6.53% 76.42%

Capital Gain Distribution Analysis

FOCFX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Dividend Payout History

View More +

Fund Manager Analysis

FOCFX - Fund Manager Analysis

Managers

Kevin Ramundo


Start Date

Tenure

Tenure Rank

May 19, 2011

8.96

9.0%

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

Cormac Cullen


Start Date

Tenure

Tenure Rank

May 02, 2016

4.0

4.0%

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 01, 2018

1.66

1.7%

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

Michael Maka


Start Date

Tenure

Tenure Rank

Mar 01, 2020

0.16

0.2%

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 33.44 7.44 0.33