Fidelity New Jersey Municipal Income Fund

Frequently Asked Questions About FNJHX

What does FNJHX invest in?

This fund primarily invests at least 80% of its total assets in high-quality municipal bonds. The interest earned from these securities is free from federal income tax, and for New Jersey residents, it is also exempt from state personal income tax. The portfolio manager diversifies holdings by spreading investments across various segments of the municipal market and different bond maturities. Importantly, the fund operates as a non-diversified entity, meaning it has the flexibility to commit more than 25% of its assets to municipal bonds that fund similar project categories.

What is the expense ratio of FNJHX?

Fidelity New Jersey Municipal Income Fund (FNJHX) charges an expense ratio of 0.45%. This is the annual fee deducted from fund assets to cover management and operations.

What is FNJHX's dividend yield?

FNJHX's trailing-twelve-month yield is 3.12%, calculated from the sum of dividends over the past year divided by the current price.

What is the duration of FNJHX?

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

What is the credit quality of FNJHX?

FNJHX'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 FNJHX?

Yield to maturity (YTM) is the total return you'd earn from FNJHX if every bond in the portfolio is held to maturity at the current price. FNJHX'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.