Fidelity Salem Street Trust - Fidelity Systematic Municipal Bond Index ETF

Frequently Asked Questions About FMBIX

What does FMBIX invest in?

The fund normally invests at least 80% of assets in municipal securities whose interest is exempt from federal income tax (but may be subject to the federal alternative minimum tax). It normally invests at least 80% of assets in securities included in the Bloomberg Municipal Bond Index, a market value-weighted index of investment-grade municipal bonds with maturities of one year or more.

What is the expense ratio of FMBIX?

Fidelity Salem Street Trust - Fidelity Systematic Municipal Bond Index ETF (FMBIX) charges an expense ratio of 0.00%. This is the annual fee deducted from fund assets to cover management and operations.

How big is FMBIX?

Fidelity Salem Street Trust - Fidelity Systematic Municipal Bond Index ETF (FMBIX) manages $174.9M in total assets. AUM determines bid-ask liquidity and the fund's vulnerability to closure — funds below ~$50M are at higher risk of liquidation.

Is FMBIX actively managed or an index fund?

FMBIX is a passive index fund — it tracks a published benchmark by holding the constituents in their published weights. Index funds typically charge low expense ratios (FMBIX's is 0.00%) because there's no security selection cost.

When was FMBIX launched?

Fidelity Salem Street Trust - Fidelity Systematic Municipal Bond Index ETF (FMBIX) launched in July 2019 and is managed by Fidelity.

How has FMBIX performed?

FMBIX's total return — price change plus reinvested distributions — is charted at the top of this page. Switch the price chart to Total Return and pick a 1-year, 3-year, 5-year, or 10-year window to read the compound annual growth rate (CAGR) over each horizon.