Fidelity California Limited Term Tax-Free Bond Fund

Frequently Asked Questions About FCSTX

What does FCSTX invest in?

The fund normally invests at least 80% of assets in investment-grade municipal debt securities whose interest is exempt from federal and California personal income taxes. Potentially it invests more than 25% of total assets in municipal securities that finance similar types of projects. The fund normally maintains a dollar-weighted average maturity between two and five years. It is non-diversified.

What is the expense ratio of FCSTX?

Fidelity California Limited Term Tax-Free Bond Fund (FCSTX) charges an expense ratio of 0.30%. This is the annual fee deducted from fund assets to cover management and operations.

What is FCSTX's dividend yield?

FCSTX's trailing-twelve-month yield is 2.45%, calculated from the sum of dividends over the past year divided by the current price.

What is the duration of FCSTX?

Effective duration measures FCSTX's sensitivity to interest-rate changes: a duration of 6 means a 1% rate move shifts NAV by roughly 6% in the opposite direction. FCSTX's current duration is published on the fund's factsheet on the issuer's website.

What is the credit quality of FCSTX?

FCSTX's credit quality breakdown (the share of holdings rated AAA through CCC and below) is published on the fund's factsheet. Higher-quality (investment-grade) funds yield less but carry less default risk than high-yield / junk bond funds.

What is the yield to maturity of FCSTX?

Yield to maturity (YTM) is the total return you'd earn from FCSTX if every bond in the portfolio is held to maturity at the current price. FCSTX's YTM is published on the fund's factsheet on the issuer's website. It differs from the trailing-12-month yield because YTM reflects current bond prices rather than historical income paid.