- ISIN
- US3162037770
- Issuer
- Fidelity
- Inception Date
- Mar 1, 2018
- Category
- Municipal Bonds
- Min. Investment
- $0
- Distribution Policy
- Distributing
- Asset Class
- Bond
Share Price Chart
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Performance
FKISX Performance Chart
Fidelity Advisor Municipal Income Fund Class C (FKISX) is up 1.2% since the beginning of the year. FKISX is currently trading at $12 per share. Investors who bought $1,000 worth of FKISX shares 5 years ago would now be looking at an investment worth $988.
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Returns By Period
Fidelity Advisor Municipal Income Fund Class C (FKISX) has returned 1.17% so far this year and 6.11% over the past 12 months.
Fidelity Advisor Municipal Income Fund Class C
- 1D
- 0.08%
- 1M
- 1.57%
- YTD
- 1.17%
- 6M
- 1.51%
- 1Y
- 6.11%
- 3Y*
- 2.98%
- 5Y*
- -0.24%
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
FKISX Monthly Returns History
Based on dividend-adjusted daily data since Mar 19, 2018, FKISX's average daily return is +0.01%, while the average monthly return is +0.14%. At this rate, an investment would double in approximately 41.3 years.
Historically, 59% of months were positive and 41% were negative. The best month was Nov 2023 with a return of +6.5%, while the worst month was Mar 2020 at -5.3%. The longest winning streak lasted 10 consecutive months, and the longest losing streak was 4 months.
On a daily basis, FKISX closed higher 40% of trading days. The best single day was Mar 25, 2020 with a return of +3.9%, while the worst single day was Mar 19, 2020 at -3.2%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.73% | 1.35% | -2.61% | 1.08% | 0.34% | 0.32% | 1.17% | ||||||
| 2025 | 0.41% | 1.01% | -1.78% | -0.58% | -0.33% | 0.84% | -0.41% | 0.76% | 2.43% | 1.24% | 0.17% | 0.02% | 3.79% |
| 2024 | -0.24% | -0.02% | 0.00% | -1.31% | -0.25% | 1.65% | 0.74% | 0.49% | 1.04% | -1.61% | 1.55% | -1.44% | 0.52% |
| 2023 | 3.27% | -2.49% | 2.09% | -0.02% | -1.00% | 0.82% | 0.24% | -1.33% | -3.04% | -1.65% | 6.53% | 2.66% | 5.83% |
| 2022 | -2.91% | -0.82% | -3.34% | -3.22% | 0.96% | -2.12% | 2.67% | -2.54% | -4.17% | -1.41% | 5.28% | -0.09% | -11.49% |
| 2021 | 0.81% | -1.82% | 0.64% | 1.07% | 0.56% | 0.40% | 0.77% | -0.47% | -0.99% | -0.33% | 0.91% | 0.01% | 1.52% |
Benchmark Metrics
Fidelity Advisor Municipal Income Fund Class C has an annualized alpha of 1.22%, beta of 0.03, and R2 of 0.02 versus S&P 500 Index. Calculated based on daily prices since March 19, 2018.
- This fund participated in 24.03% of S&P 500 Index downside but only 13.95% of its upside - more exposed to losses than it benefited from rallies.
- Beta of 0.03 may look defensive, but with R2 of 0.02 this fund is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this fund's risk.
- R2 of 0.02 means this fund moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 1.22%
- Beta
- 0.03
- R²
- 0.02
- Upside Capture
- 13.95%
- Downside Capture
- 24.03%
Expense Ratio
FKISX has a high expense ratio of 1.52%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
FKISX ranks 60 for risk / return — on par with similar mutual funds. You're getting a typical balance of risk and reward. Not a standout, but not a red flag either — a reasonable choice if other factors align with your goals.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Fidelity Advisor Municipal Income Fund Class C (FKISX) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| FKISX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.29 | ||
| Sortino ratioReturn per unit of downside risk | +0.69 | ||
| Omega ratioGain probability vs. loss probability | 1.58 | 1.37 | +0.21 |
| Calmar ratioReturn relative to maximum drawdown | 1.92 | 2.78 | -0.86 |
| Martin ratioReturn relative to average drawdown | 6.08 | 12.44 | -6.36 |
Dividends
Dividend History
Fidelity Advisor Municipal Income Fund Class C provided a 2.02% dividend yield over the last twelve months, with an annual payout of $0.25 per share. The fund has been increasing its distributions for 3 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.25 | $0.32 | $0.21 | $0.20 | $0.15 | $0.24 | $0.26 | $0.28 | $0.22 |
Dividend yield | 2.02% | 2.61% | 1.75% | 1.65% | 1.22% | 1.74% | 1.94% | 2.09% | 1.70% |
Monthly Dividends
The table displays the monthly dividend distributions for Fidelity Advisor Municipal Income Fund Class C. 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.00 | $0.10 | ||||||
| 2025 | $0.04 | $0.03 | $0.04 | $0.04 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.32 |
| 2024 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.00 | $0.02 | $0.02 | $0.02 | $0.02 | $0.21 |
| 2023 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.00 | $0.02 | $0.02 | $0.20 |
| 2022 | $0.02 | $0.01 | $0.02 | $0.02 | $0.02 | $0.00 | $0.00 | $0.02 | $0.00 | $0.02 | $0.02 | $0.02 | $0.15 |
| 2021 | $0.00 | $0.00 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.01 | $0.02 | $0.01 | $0.10 | $0.24 |
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.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Fidelity Advisor Municipal Income Fund Class C. 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 Municipal Income Fund Class C was 17.04%, occurring on Oct 25, 2022. The portfolio has not yet recovered.
The current Fidelity Advisor Municipal Income Fund Class C drawdown is 2.03%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Bear market2022 | -17.04%Oct 2022 | 1y 2mo | — | 4y 11moJul 2021 - now |
COVID crash2020 | -12.78%Mar 2020 | 10d | 10mo 7d | 10mo 17dMar 2020 - Jan 2021 |
2021 pullback2021 | -2.32%Feb 2021 | 9d | 3mo 9d | 3mo 18dFeb 2021 - Jun 2021 |
Rate-hike selloffLate 2018 | -2.02%Nov 2018 | 3mo 16d | 1mo | 4mo 16dJul 2018 - Dec 2018 |
2019 pullback2019 | -1.69%Sep 2019 | 12d | 3mo 22d | 4mo 4dSep 2019 - Jan 2020 |
Drawdown Indicators
| FKISX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.04% | -56.78% | +39.74% |
Max Drawdown (1Y)Largest decline over 1 year | -3.19% | -9.10% | +5.91% |
Max Drawdown (3Y)Largest decline over 3 years | -6.31% | -18.90% | +12.59% |
Max Drawdown (5Y)Largest decline over 5 years | -17.04% | -25.43% | +8.39% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -2.03% | -1.80% | -0.23% |
Average DrawdownAverage peak-to-trough decline | -4.83% | -10.71% | +5.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.01% | 2.03% | -1.02% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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