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Fidelity Massachusetts Municipal Income Fund (FDMM...
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

Fund Info

ISIN

US3159022058

CUSIP

315902205

Issuer

Fidelity

Inception Date

Nov 10, 1983

Min. Investment

$0

Asset Class

Bond

Expense Ratio

FDMMX has an expense ratio of 0.45%, placing it in the medium range.


Expense ratio chart for FDMMX: current value is 0.45%, compared with the broader market range of 0.00% to 2.12%.0.50%1.00%1.50%2.00%
FDMMX: 0.45%

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:
FDMMX vs. VMATX FDMMX vs. FTABX FDMMX vs. DRTAX FDMMX vs. AGG FDMMX vs. VWITX FDMMX vs. VTEB FDMMX vs. FHIGX
Popular comparisons:
FDMMX vs. VMATX FDMMX vs. FTABX FDMMX vs. DRTAX FDMMX vs. AGG FDMMX vs. VWITX FDMMX vs. VTEB FDMMX vs. FHIGX

Performance

Performance Chart

The chart shows the growth of an initial investment of $10,000 in Fidelity Massachusetts 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.


500.00%1,000.00%1,500.00%2,000.00%2,500.00%NovemberDecember2025FebruaryMarchApril
510.00%
2,319.05%
FDMMX (Fidelity Massachusetts Municipal Income Fund)
Benchmark (^GSPC)

Returns By Period

Fidelity Massachusetts Municipal Income Fund had a return of -0.21% year-to-date (YTD) and 1.80% in the last 12 months. Over the past 10 years, Fidelity Massachusetts Municipal Income Fund had an annualized return of 1.47%, while the S&P 500 had an annualized return of 10.64%, indicating that Fidelity Massachusetts Municipal Income Fund did not perform as well as the benchmark.


FDMMX

YTD

-0.21%

1M

-1.49%

6M

-1.81%

1Y

1.80%

5Y*

1.01%

10Y*

1.47%

^GSPC (Benchmark)

YTD

-3.58%

1M

-3.06%

6M

-0.68%

1Y

8.94%

5Y*

17.98%

10Y*

10.64%

*Annualized

Monthly Returns

The table below presents the monthly returns of FDMMX, with color gradation from worst to best to easily spot seasonal factors. Returns are adjusted for dividends.


JanFebMarAprMayJunJulAugSepOctNovDecTotal
20250.40%0.90%-1.75%0.27%-0.21%
20240.09%-0.05%-0.18%-1.05%-0.03%1.34%0.98%0.61%1.14%-1.43%1.36%-1.26%1.48%
20232.71%-2.11%1.82%-0.26%-0.58%0.74%0.30%-1.02%-2.61%-1.03%5.76%2.13%5.71%
2022-2.63%-0.59%-2.89%-3.08%1.34%-1.67%2.58%-2.17%-3.39%-0.73%4.18%-0.27%-9.21%
20210.57%-1.74%0.42%1.05%0.33%0.25%0.72%-0.39%-0.79%-0.15%0.87%-0.32%0.79%
20201.82%1.22%-3.56%-1.75%2.95%0.84%1.56%-0.45%0.10%-0.14%1.37%0.41%4.29%
20190.56%0.54%1.57%0.39%1.30%0.46%0.71%1.67%-0.84%0.13%0.12%0.21%7.02%
2018-1.31%-0.61%-0.08%-0.28%1.17%-0.25%0.30%0.06%-0.54%-0.70%0.99%1.16%-0.13%
20170.33%0.47%0.07%0.65%1.65%-0.18%0.65%0.73%-0.42%0.32%-0.35%1.22%5.24%
20161.14%0.16%0.26%0.72%0.40%1.97%-0.15%0.16%-0.64%-1.11%-5.19%1.09%-1.37%
20151.95%-1.26%0.43%-0.78%-0.14%-0.23%0.84%0.35%0.74%0.27%0.50%0.69%3.37%
20142.08%0.92%0.15%1.36%1.44%0.11%0.37%1.33%0.19%0.68%0.27%0.67%9.98%

Risk-Adjusted Performance

Risk-Adjusted Performance Rank

The current rank of FDMMX is 62, indicating average performance compared to other mutual funds on our website. Here’s a breakdown of how it compares using common performance measures.


The Risk-Adjusted Performance Rank of FDMMX is 6262
Overall Rank
The Sharpe Ratio Rank of FDMMX is 6565
Sharpe Ratio Rank
The Sortino Ratio Rank of FDMMX is 6363
Sortino Ratio Rank
The Omega Ratio Rank of FDMMX is 6868
Omega Ratio Rank
The Calmar Ratio Rank of FDMMX is 5656
Calmar Ratio Rank
The Martin Ratio Rank of FDMMX is 6060
Martin Ratio Rank
The risk-adjusted ranks indicate the investment's position relative to the market. A rank closer to 100 signifies top-performing investments, while a rank closer to 0 might suggest underperformance, based on the selected ratio. The values are calculated based on the past 12 months of returns.

Risk-Adjusted Performance Indicators

The charts below present risk-adjusted performance metrics for Fidelity Massachusetts Municipal Income Fund (FDMMX) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.


Sharpe ratio
The chart of Sharpe ratio for FDMMX, currently valued at 0.64, compared to the broader market-1.000.001.002.003.004.00
FDMMX: 0.64
^GSPC: 0.58
The chart of Sortino ratio for FDMMX, currently valued at 0.86, compared to the broader market0.002.004.006.008.00
FDMMX: 0.86
^GSPC: 0.86
The chart of Omega ratio for FDMMX, currently valued at 1.13, compared to the broader market0.501.001.502.002.503.003.50
FDMMX: 1.13
^GSPC: 1.11
The chart of Calmar ratio for FDMMX, currently valued at 0.33, compared to the broader market0.002.004.006.008.0010.0012.00
FDMMX: 0.33
^GSPC: 0.80
The chart of Martin ratio for FDMMX, currently valued at 1.97, compared to the broader market0.0020.0040.0060.00
FDMMX: 1.97
^GSPC: 2.64

The current Fidelity Massachusetts Municipal Income Fund Sharpe ratio is 0.64. This value is calculated based on the past 1 year of trading data and takes into account price changes and dividends.

Use the chart below to compare the Sharpe ratio of Fidelity Massachusetts Municipal Income Fund with the selected benchmark, providing insights into the investment's historical performance in terms of risk-adjusted returns. Go to the Sharpe ratio tool for more fine-grained control over the calculation options.


Rolling 12-month Sharpe Ratio0.000.501.001.502.002.503.003.50NovemberDecember2025FebruaryMarchApril
0.64
0.58
FDMMX (Fidelity Massachusetts Municipal Income Fund)
Benchmark (^GSPC)

Dividends

Dividend History

Fidelity Massachusetts Municipal Income Fund provided a 2.43% dividend yield over the last twelve months, with an annual payout of $0.27 per share. The fund has been increasing its distributions for 2 consecutive years.


2.00%2.50%3.00%3.50%$0.00$0.10$0.20$0.30$0.4020142015201620172018201920202021202220232024
Dividends
Dividend Yield
PeriodTTM20242023202220212020201920182017201620152014
Dividend$0.27$0.30$0.28$0.24$0.25$0.29$0.32$0.33$0.34$0.36$0.43$0.43

Dividend yield

2.43%2.66%2.42%2.16%1.99%2.25%2.56%2.76%2.77%3.01%3.46%3.43%

Monthly Dividends

The table displays the monthly dividend distributions for Fidelity Massachusetts Municipal Income Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.


JanFebMarAprMayJunJulAugSepOctNovDecTotal
2025$0.03$0.02$0.00$0.00$0.05
2024$0.03$0.02$0.03$0.03$0.03$0.02$0.03$0.03$0.03$0.03$0.02$0.03$0.30
2023$0.02$0.02$0.02$0.02$0.02$0.02$0.02$0.03$0.02$0.03$0.02$0.03$0.28
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$0.24
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$0.25
2020$0.03$0.02$0.03$0.03$0.03$0.02$0.02$0.02$0.02$0.02$0.02$0.02$0.29
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$0.33
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$0.34
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$0.36
2015$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.08$0.43
2014$0.04$0.03$0.06$0.03$0.04$0.03$0.04$0.03$0.03$0.03$0.03$0.03$0.43

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.


-10.00%-8.00%-6.00%-4.00%-2.00%0.00%NovemberDecember2025FebruaryMarchApril
-3.56%
-7.70%
FDMMX (Fidelity Massachusetts Municipal Income Fund)
Benchmark (^GSPC)

Worst Drawdowns

The table below displays the maximum drawdowns of the Fidelity Massachusetts 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 Massachusetts Municipal Income Fund was 15.43%, occurring on Oct 19, 1987. Recovery took 172 trading sessions.

The current Fidelity Massachusetts Municipal Income Fund drawdown is 3.56%.


Depth

Start

To Bottom

Bottom

To Recover

End

Total

-15.43%Mar 6, 1987162Oct 19, 1987172Jun 15, 1988334
-13.63%Aug 6, 2021311Oct 26, 2022
-12.26%Feb 1, 1994211Nov 22, 1994102Apr 13, 1995313
-11.93%Jan 24, 2008184Oct 15, 2008127Apr 20, 2009311
-11.16%Mar 10, 20209Mar 20, 2020170Nov 19, 2020179

Volatility

Volatility Chart

The current Fidelity Massachusetts Municipal Income Fund volatility is 1.01%, 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.


0.00%1.00%2.00%3.00%4.00%5.00%6.00%NovemberDecember2025FebruaryMarchApril
1.01%
5.74%
FDMMX (Fidelity Massachusetts Municipal Income Fund)
Benchmark (^GSPC)
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The information contained herein does not constitute investment advice and made available for educational purposes only. Prices and returns on equities are listed without consideration of fees, commissions, taxes, penalties, or interest payable due to purchasing, holding, or selling.

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