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Name

As of 11/21/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Fidelity SAI Municipal Income Fund

FSMNX | Fund

$9.93

$1.92 B

3.27%

$0.32

0.35%

Vitals

YTD Return

2.4%

1 yr return

6.9%

3 Yr Avg Return

-0.2%

5 Yr Avg Return

1.0%

Net Assets

$1.92 B

Holdings in Top 10

13.3%

52 WEEK LOW AND HIGH

$9.9
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.35%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 4.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$0

IRA

N/A

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 11/21/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Fidelity SAI Municipal Income Fund

FSMNX | Fund

$9.93

$1.92 B

3.27%

$0.32

0.35%

FSMNX - Profile

Distributions

  • YTD Total Return 2.4%
  • 3 Yr Annualized Total Return -0.2%
  • 5 Yr Annualized Total Return 1.0%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.87%
DIVIDENDS
  • Dividend Yield 3.3%
  • Dividend Distribution Frequency None

Fund Details

  • Legal Name
    Fidelity SAI Municipal Income Fund
  • Fund Family Name
    Fidelity Group of Funds
  • Inception Date
    Oct 02, 2018
  • Shares Outstanding
    N/A
  • Share Class
    Other
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Cormac Cullen

Fund Description

Normally investing at least 80% of assets in investment-grade municipal securities whose interest is exempt from federal income tax.Managing the fund to have similar overall interest rate risk to the supplemental index.Allocating assets across different market sectors and maturities.Potentially investing more than 25% of total assets in municipal securities that finance similar types of projects.Analyzing the credit quality of the issuer, security-specific features, current and potential future valuation, and trading opportunities to select investments.
Read More

FSMNX - Performance

Return Ranking - Trailing

Period FSMNX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.4% -5.9% 33.6% 51.50%
1 Yr 6.9% -0.3% 37.8% 29.25%
3 Yr -0.2%* -10.7% 3.6% 35.39%
5 Yr 1.0%* -6.8% 1103.7% 38.31%
10 Yr N/A* -0.9% 248.8% N/A

* Annualized

Return Ranking - Calendar

Period FSMNX Return Category Return Low Category Return High Rank in Category (%)
2023 4.3% -1.4% 41.0% 8.48%
2022 -11.9% -39.7% 0.3% 54.00%
2021 0.3% -5.6% 6.9% 20.87%
2020 1.4% -2.6% 310.0% 64.91%
2019 4.9% 0.0% 26.0% 15.43%

Total Return Ranking - Trailing

Period FSMNX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.4% -5.9% 33.6% 51.50%
1 Yr 6.9% -0.3% 37.8% 29.25%
3 Yr -0.2%* -10.7% 3.6% 35.39%
5 Yr 1.0%* -6.8% 1103.7% 38.31%
10 Yr N/A* -0.9% 248.8% N/A

* Annualized

Total Return Ranking - Calendar

Period FSMNX Return Category Return Low Category Return High Rank in Category (%)
2023 7.5% -1.3% 41.0% 10.29%
2022 -10.0% -39.7% 1.1% 58.74%
2021 2.5% -4.8% 23761504.0% 25.03%
2020 3.5% -1.5% 17057.9% 61.99%
2019 8.8% 0.2% 3514.6% 7.86%

NAV & Total Return History

FSMNX - Holdings

Concentration Analysis

FSMNX Category Low Category High FSMNX % Rank
Net Assets 1.92 B 3.22 M 71.9 B 18.33%
Number of Holdings 1862 4 13418 3.86%
Net Assets in Top 10 280 M -317 M 3.09 B 13.66%
Weighting of Top 10 13.34% 1.8% 100.3% 68.87%

Top 10 Holdings

  1. Fidelity Municipal Cash Central Fund 4.99%
  2. NJ TRANSP 5.25% 6/15/2050 1.30%
  3. MASSACHUSET REV 5% 2/15/2034 1.12%
  4. MA ST TRANS REV 5% 6/1/52 1.02%
  5. BLACK BELT ENE(MO) 5.25% 6/1/29MT 53 0.96%
  6. CHANDLER AZ IDR(INTEL) 5% 9/1/27MT@ 0.88%
  7. NC TPK TRIANGLE 5% 1/1/2054 0.81%
  8. MAIN STR NAT GA 4% 07/01/2052 MT 0.80%
  9. BLACK BELT ENE 5.5% 11/1/2053 MT 0.76%
  10. MA ST 5% 11/1/2045 0.70%

Asset Allocation

Weighting Return Low Return High FSMNX % Rank
Bonds 		94.80% 0.00% 150.86% 90.61%
Cash 		5.20% -50.86% 44.62% 8.06%
Stocks 		0.00% 0.00% 99.78% 29.69%
Preferred Stocks 		0.00% 0.00% 0.07% 17.79%
Other 		0.00% -3.69% 51.88% 30.18%
Convertible Bonds 		0.00% 0.00% 0.93% 17.32%

Bond Sector Breakdown

Weighting Return Low Return High FSMNX % Rank
Municipal 		97.58% 44.39% 100.00% 60.20%
Cash & Equivalents 		4.99% 0.00% 44.41% 7.13%
Derivative 		0.00% -3.69% 51.88% 26.98%
Securitized 		0.00% 0.00% 5.93% 19.06%
Corporate 		0.00% 0.00% 9.41% 33.44%
Government 		0.00% 0.00% 52.02% 24.15%

Bond Geographic Breakdown

Weighting Return Low Return High FSMNX % Rank
US 		94.80% 0.00% 142.23% 88.87%
Non US 		0.00% 0.00% 23.89% 22.05%

FSMNX - Expenses

Operational Fees

FSMNX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.35% 0.01% 8.02% 91.93%
Management Fee 0.33% 0.00% 1.20% 21.11%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.44% N/A

Sales Fees

FSMNX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.50% 4.75% N/A
Deferred Load N/A 0.25% 5.00% N/A

Trading Fees

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

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.

FSMNX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 4.00% 0.00% 283.00% 2.40%

FSMNX - Distributions

Dividend Yield Analysis

FSMNX Category Low Category High FSMNX % Rank
Dividend Yield 3.27% 0.00% 14.51% 30.56%

Dividend Distribution Analysis

FSMNX Category Low Category High Category Mod
Dividend Distribution Frequency None Annual Monthly Monthly

Net Income Ratio Analysis

FSMNX Category Low Category High FSMNX % Rank
Net Income Ratio 1.87% -0.53% 5.33% 54.15%

Capital Gain Distribution Analysis

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

Distributions History

View More +

FSMNX - Fund Manager Analysis

Managers

Cormac Cullen

Start Date

Tenure

Tenure Rank

Oct 02, 2018

3.66

3.7%

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

Oct 02, 2018

3.66

3.7%

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

2.25

2.3%

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 35.05 7.35 1.58

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