- What does FSMNX invest in?
- The Adviser normally invests at least 80% of the fund's assets in municipal securities whose interest is exempt from federal income tax. The municipal securities in which the fund invests are normally investment-grade. The Adviser may invest more than 25% of the fund's total assets in municipal securities that finance similar projects, such as those relating to education, health care, transportation, and utilities.
- What is the expense ratio of FSMNX?
- Fidelity SAI Municipal Income Fund (FSMNX) charges an expense ratio of 0.35%. This is the annual fee deducted from fund assets to cover management and operations.
- What is FSMNX's dividend yield?
- FSMNX's trailing-twelve-month yield is 3.44%, calculated from the sum of dividends over the past year divided by the current price.
- What is the duration of FSMNX?
- Effective duration measures FSMNX's sensitivity to interest-rate changes — a duration of 6 means a 1% rate move shifts NAV by roughly 6% in the opposite direction. FSMNX's current duration is published on the fund's factsheet on the issuer's website.
- What is the credit quality of FSMNX?
- FSMNX'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 FSMNX?
- Yield to maturity (YTM) is the total return you'd earn from FSMNX if every bond in the portfolio is held to maturity at the current price. FSMNX'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.
