Fidelity Advisor California Municipal Income Fund Class M (FCMTX)
The investment seeks a high level of current income, exempt from federal and California personal income taxes. The fund normally invests at least 80% of assets in investment-grade municipal securities whose interest is exempt from federal and California personal income taxes. It potentially invests more than 25% of total assets in municipal securities that finance similar types of projects. The fund allocates assets across different market sectors and maturities.
Fund Info
US3160618035
Aug 1, 2002
$0
Share Price Chart
Loading data...
Compare to other instruments
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in Fidelity Advisor California Municipal Income Fund Class M, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.
Returns By Period
Fidelity Advisor California Municipal Income Fund Class M had a return of 1.97% year-to-date (YTD) and 6.60% in the last 12 months. Over the past 10 years, Fidelity Advisor California Municipal Income Fund Class M had an annualized return of 1.92%, while the S&P 500 had an annualized return of 11.11%, indicating that Fidelity Advisor California Municipal Income Fund Class M did not perform as well as the benchmark.
FCMTX
1.97%
-0.59%
2.23%
6.60%
0.75%
1.92%
^GSPC (Benchmark)
23.08%
0.10%
10.70%
30.05%
13.52%
11.11%
Monthly Returns
The table below presents the monthly returns of FCMTX, with color gradation from worst to best to easily spot seasonal factors. Returns are adjusted for dividends.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | -0.14% | -0.05% | -0.08% | -0.89% | -0.28% | 1.33% | 1.18% | 0.65% | 1.49% | -1.63% | 1.97% | ||
| 2023 | 3.18% | -2.27% | 2.05% | -0.58% | -0.49% | 0.79% | 0.38% | -1.11% | -2.77% | -1.29% | 6.03% | 2.49% | 6.24% |
| 2022 | -2.83% | -0.70% | -3.09% | -3.05% | 1.38% | -1.61% | 2.59% | -2.06% | -3.48% | -0.83% | 4.48% | -0.17% | -9.30% |
| 2021 | 0.54% | -1.69% | 0.62% | 0.76% | 0.39% | 0.23% | 0.83% | -0.35% | -0.81% | -0.13% | 0.90% | -0.22% | 1.06% |
| 2020 | 1.84% | 1.28% | -3.91% | -1.95% | 3.17% | 0.94% | 1.55% | -0.41% | 0.03% | -0.19% | 1.45% | 0.25% | 3.94% |
| 2019 | 0.78% | 0.44% | 1.63% | 0.36% | 1.52% | 0.43% | 0.73% | 1.71% | -0.85% | 0.05% | 0.04% | 0.12% | 7.16% |
| 2018 | -1.31% | -0.58% | 0.16% | -0.26% | 1.35% | -0.23% | 0.38% | 0.16% | -0.71% | -0.79% | 1.03% | 1.26% | 0.41% |
| 2017 | 0.49% | 0.60% | 0.32% | 0.69% | 1.47% | -0.24% | 0.69% | 0.77% | -0.40% | 0.38% | -0.94% | 1.00% | 4.93% |
| 2016 | 1.23% | 0.15% | 0.32% | 0.75% | 0.24% | 1.80% | -0.06% | 0.16% | -0.53% | -1.12% | -4.16% | 0.89% | -0.44% |
| 2015 | 2.00% | -1.05% | 0.33% | -0.67% | -0.35% | -0.21% | 0.73% | 0.26% | 0.72% | 0.35% | 0.33% | 0.80% | 3.25% |
| 2014 | 2.25% | 1.14% | 0.21% | 1.23% | 1.39% | -0.03% | 0.44% | 1.30% | 0.27% | 0.89% | 0.18% | 0.56% | 10.27% |
| 2013 | 0.52% | 0.33% | -0.25% | 1.20% | -1.33% | -2.82% | -1.06% | -1.23% | 2.36% | 0.95% | -0.35% | -0.18% | -1.95% |
Expense Ratio
FCMTX features an expense ratio of 0.70%, falling within the medium range.
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
The current rank of FCMTX is 48, suggesting that the investment has average results relative to other mutual funds in terms of risk-adjusted performance. This ranking is determined by the cumulative values of the indicators listed below.
Risk-Adjusted Performance Indicators
The charts below present risk-adjusted performance metrics for Fidelity Advisor California Municipal Income Fund Class M (FCMTX) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.
Dividends
Dividend History
Fidelity Advisor California Municipal Income Fund Class M provided a 2.55% dividend yield over the last twelve months, with an annual payout of $0.31 per share. The fund has been increasing its distributions for 2 consecutive years.
| Period | TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.31 | $0.30 | $0.27 | $0.26 | $0.30 | $0.32 | $0.35 | $0.35 | $0.37 | $0.40 | $0.43 | $0.44 |
Dividend yield | 2.55% | 2.43% | 2.27% | 1.95% | 2.19% | 2.42% | 2.74% | 2.70% | 2.92% | 3.02% | 3.26% | 3.56% |
Monthly Dividends
The table displays the monthly dividend distributions for Fidelity Advisor California Municipal Income Fund Class M. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | $0.03 | $0.02 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.00 | $0.26 | |
| 2023 | $0.02 | $0.02 | $0.03 | $0.02 | $0.03 | $0.02 | $0.03 | $0.03 | $0.02 | $0.03 | $0.03 | $0.03 | $0.30 |
| 2022 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.27 |
| 2021 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.26 |
| 2020 | $0.03 | $0.02 | $0.03 | $0.03 | $0.03 | $0.02 | $0.03 | $0.03 | $0.02 | $0.03 | $0.02 | $0.02 | $0.30 |
| 2019 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.32 |
| 2018 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.35 |
| 2017 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.35 |
| 2016 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.37 |
| 2015 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.04 | $0.03 | $0.03 | $0.40 |
| 2014 | $0.04 | $0.03 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.03 | $0.03 | $0.43 |
| 2013 | $0.04 | $0.03 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.44 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
Worst Drawdowns
The table below displays the maximum drawdowns of the Fidelity Advisor California Municipal Income Fund Class M. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Fidelity Advisor California Municipal Income Fund Class M was 13.97%, occurring on Oct 25, 2022. The portfolio has not yet recovered.
The current Fidelity Advisor California Municipal Income Fund Class M drawdown is 2.42%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -13.97% | Aug 5, 2021 | 311 | Oct 25, 2022 | — | — | — |
| -12.64% | Jan 24, 2008 | 226 | Dec 15, 2008 | 176 | Aug 27, 2009 | 402 |
| -11.67% | Mar 10, 2020 | 9 | Mar 20, 2020 | 176 | Nov 30, 2020 | 185 |
| -7.25% | Sep 1, 2010 | 95 | Jan 14, 2011 | 135 | Jul 29, 2011 | 230 |
| -6.9% | May 3, 2013 | 87 | Sep 5, 2013 | 149 | Apr 9, 2014 | 236 |
Volatility
Volatility Chart
The current Fidelity Advisor California Municipal Income Fund Class M volatility is 1.85%, representing the average percentage change in the investments's value, either up or down over the past month. The chart below shows the rolling one-month volatility.