Fidelity California Municipal Income Fund (FCTFX)
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
| ISIN | US3160612095 |
|---|---|
| CUSIP | 316061209 |
| Issuer | Fidelity |
| Inception Date | Jul 7, 1984 |
| Category | Municipal Bonds |
| Min. Investment | $0 |
| Asset Class | Bond |
Expense Ratio
FCTFX features an expense ratio of 0.45%, falling within the medium range.
Share Price Chart
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Compare to other instruments
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Popular comparisons: FCTFX vs. PWZ, FCTFX vs. VCLAX, FCTFX vs. CMF, FCTFX vs. VCITX, FCTFX vs. VCAIX
Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in Fidelity California Municipal Income Fund, 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 California Municipal Income Fund had a return of 2.13% year-to-date (YTD) and 7.90% in the last 12 months. Over the past 10 years, Fidelity California Municipal Income Fund had an annualized return of 2.20%, while the S&P 500 had an annualized return of 11.43%, indicating that Fidelity California Municipal Income Fund did not perform as well as the benchmark.
| Period | Return | Benchmark |
|---|---|---|
| Year-To-Date | 2.13% | 25.82% |
| 1 month | -0.49% | 3.20% |
| 6 months | 2.27% | 14.94% |
| 1 year | 7.90% | 35.92% |
| 5 years (annualized) | 1.01% | 14.22% |
| 10 years (annualized) | 2.20% | 11.43% |
Monthly Returns
The table below presents the monthly returns of FCTFX, 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 | -0.10% | 0.06% | -0.16% | -0.85% | -0.26% | 1.42% | 1.13% | 0.66% | 1.54% | -1.61% | 2.13% | ||
| 2023 | 3.23% | -2.26% | 2.09% | -0.58% | -0.46% | 0.81% | 0.40% | -1.10% | -2.70% | -1.26% | 5.99% | 2.50% | 6.51% |
| 2022 | -2.75% | -0.69% | -3.08% | -3.06% | 1.42% | -1.60% | 2.60% | -2.03% | -3.48% | -0.73% | 4.43% | -0.17% | -9.07% |
| 2021 | 0.64% | -1.68% | 0.57% | 0.86% | 0.42% | 0.18% | 0.93% | -0.33% | -0.80% | -0.12% | 0.93% | -0.28% | 1.30% |
| 2020 | 1.87% | 1.31% | -3.98% | -1.86% | 3.20% | 0.97% | 1.57% | -0.39% | 0.04% | -0.17% | 1.48% | 0.20% | 4.13% |
| 2019 | 0.81% | 0.46% | 1.66% | 0.39% | 1.55% | 0.38% | 0.84% | 1.74% | -0.83% | 0.07% | 0.06% | 0.14% | 7.49% |
| 2018 | -1.30% | -0.56% | 0.16% | -0.21% | 1.37% | -0.24% | 0.43% | 0.18% | -0.69% | -0.77% | 1.06% | 1.29% | 0.68% |
| 2017 | 0.50% | 0.63% | 0.35% | 0.73% | 1.51% | -0.21% | 0.64% | 0.87% | -0.37% | 0.40% | -0.91% | 1.03% | 5.26% |
| 2016 | 1.26% | 0.10% | 0.42% | 0.71% | 0.26% | 1.91% | -0.11% | 0.19% | -0.42% | -1.09% | -4.15% | 0.91% | -0.14% |
| 2015 | 2.03% | -1.04% | 0.35% | -0.72% | -0.25% | -0.18% | 0.75% | 0.29% | 0.74% | 0.38% | 0.35% | 0.82% | 3.55% |
| 2014 | 2.28% | 1.17% | 0.24% | 1.26% | 1.42% | -0.01% | 0.47% | 1.32% | 0.29% | 0.92% | 0.20% | 0.59% | 10.61% |
| 2013 | 0.54% | 0.35% | -0.23% | 1.22% | -1.31% | -2.74% | -1.12% | -1.22% | 2.48% | 0.89% | -0.33% | -0.15% | -1.72% |
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
The current rank of FCTFX is 42, 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 California Municipal Income Fund (FCTFX) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.
Dividends
Dividend History
Fidelity California Municipal Income Fund provided a 2.81% dividend yield over the last twelve months, with an annual payout of $0.34 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 | $0.34 | $0.33 | $0.30 | $0.29 | $0.33 | $0.36 | $0.38 | $0.39 | $0.41 | $0.43 | $0.46 | $0.47 |
Dividend yield | 2.81% | 2.67% | 2.52% | 2.20% | 2.45% | 2.71% | 3.01% | 3.01% | 3.24% | 3.31% | 3.54% | 3.82% |
Monthly Dividends
The table displays the monthly dividend distributions for Fidelity California Municipal Income Fund. 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 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.00 | $0.29 | |
| 2023 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.33 |
| 2022 | $0.02 | $0.02 | $0.03 | $0.02 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.02 | $0.03 | $0.30 |
| 2021 | $0.03 | $0.02 | $0.03 | $0.03 | $0.03 | $0.02 | $0.03 | $0.03 | $0.02 | $0.02 | $0.02 | $0.02 | $0.29 |
| 2020 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.33 |
| 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 | $0.36 |
| 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 | $0.38 |
| 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 | $0.39 |
| 2016 | $0.04 | $0.03 | $0.04 | $0.03 | $0.04 | $0.03 | $0.04 | $0.04 | $0.03 | $0.03 | $0.03 | $0.04 | $0.41 |
| 2015 | $0.04 | $0.03 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.43 |
| 2014 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.46 |
| 2013 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.47 |
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 California Municipal Income Fund. 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 California Municipal Income Fund was 19.94%, occurring on Oct 19, 1987. Recovery took 249 trading sessions.
The current Fidelity California Municipal Income Fund drawdown is 1.69%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -19.94% | Mar 6, 1987 | 162 | Oct 19, 1987 | 249 | Sep 30, 1988 | 411 |
| -13.73% | Aug 6, 2021 | 310 | Oct 25, 2022 | 492 | Oct 1, 2024 | 802 |
| -13.24% | Feb 1, 1994 | 211 | Nov 22, 1994 | 132 | May 25, 1995 | 343 |
| -12.45% | Jan 24, 2008 | 226 | Dec 15, 2008 | 170 | Aug 19, 2009 | 396 |
| -11.65% | Mar 10, 2020 | 9 | Mar 20, 2020 | 170 | Nov 19, 2020 | 179 |
Volatility
Volatility Chart
The current Fidelity California Municipal Income Fund volatility is 1.87%, 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.