- What does FMHTX invest in?
- This fund typically dedicates a minimum of 80% of its capital to high-quality municipal bonds. A significant advantage is that the income derived from these investments is exempt from both federal and Michigan personal income taxes. Furthermore, it allocates more than 25% of its total holdings to municipal securities that support comparable types of projects. While the fund's strategy involves distributing capital across various market segments and bond maturities, it is classified as non-diversified.
- What is the expense ratio of FMHTX?
- Fidelity Michigan Municipal Income Fund (FMHTX) charges an expense ratio of 0.46%. This is the annual fee deducted from fund assets to cover management and operations.
- What is FMHTX's dividend yield?
- FMHTX's trailing-twelve-month yield is 2.97%, calculated from the sum of dividends over the past year divided by the current price.
- What is the duration of FMHTX?
- Effective duration measures FMHTX's sensitivity to interest-rate changes — a duration of 6 means a 1% rate move shifts NAV by roughly 6% in the opposite direction. FMHTX's current duration is published on the fund's factsheet on the issuer's website.
- What is the credit quality of FMHTX?
- FMHTX'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 FMHTX?
- Yield to maturity (YTM) is the total return you'd earn from FMHTX if every bond in the portfolio is held to maturity at the current price. FMHTX'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.
