Fidelity Municipal Bond Index Fund (FMBIX)
The fund normally invests at least 80% of assets in municipal securities whose interest is exempt from federal income tax (but may be subject to the federal alternative minimum tax). It normally invests at least 80% of assets in securities included in the Bloomberg Municipal Bond Index, a market value-weighted index of investment-grade municipal bonds with maturities of one year or more.
Fund Info
| ISIN | US31635T7651 |
|---|---|
| CUSIP | 31635T765 |
| Issuer | Fidelity |
| Inception Date | Jul 11, 2019 |
| Category | Municipal Bonds |
| Min. Investment | $0 |
| Asset Class | Bond |
Expense Ratio
FMBIX has an expense ratio of 0.07%, which is considered low compared to other funds.
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: FMBIX vs. VTEAX, FMBIX vs. VTEX, FMBIX vs. FXNAX, FMBIX vs. VTEB, FMBIX vs. VWILX, FMBIX vs. FTABX, FMBIX vs. MUB, FMBIX vs. VWAHX, FMBIX vs. VOO, FMBIX vs. FBIIX
Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in Fidelity Municipal Bond Index 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 Municipal Bond Index Fund had a return of 1.54% year-to-date (YTD) and 7.43% in the last 12 months.
| Period | Return | Benchmark |
|---|---|---|
| Year-To-Date | 1.54% | 25.70% |
| 1 month | -0.47% | 3.51% |
| 6 months | 1.98% | 14.80% |
| 1 year | 7.43% | 37.91% |
| 5 years (annualized) | 0.49% | 14.18% |
| 10 years (annualized) | N/A | 11.41% |
Monthly Returns
The table below presents the monthly returns of FMBIX, 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 | -0.01% | -0.02% | -0.32% | -1.04% | -0.50% | 1.54% | 1.09% | 0.65% | 1.29% | -1.48% | 1.54% | ||
| 2023 | 3.16% | -2.51% | 2.36% | -0.43% | -0.70% | 0.85% | 0.26% | -1.32% | -3.16% | -1.07% | 6.48% | 2.24% | 5.91% |
| 2022 | -2.64% | -0.61% | -3.00% | -3.31% | 1.64% | -2.00% | 2.58% | -2.37% | -3.79% | -0.79% | 4.85% | -0.22% | -9.59% |
| 2021 | 0.48% | -1.50% | 0.58% | 0.82% | 0.32% | 0.22% | 0.71% | -0.28% | -0.77% | -0.13% | 0.70% | 0.16% | 1.28% |
| 2020 | 1.63% | 1.16% | -3.61% | -2.62% | 3.16% | 0.78% | 1.43% | -0.32% | -0.07% | -0.21% | 1.33% | 0.58% | 3.09% |
| 2019 | 0.37% | 1.55% | -0.85% | 0.04% | 0.14% | 0.24% | 1.48% |
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
The current rank of FMBIX is 35, 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 Municipal Bond Index Fund (FMBIX) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.
Dividends
Dividend History
Fidelity Municipal Bond Index Fund provided a 2.52% dividend yield over the last twelve months, with an annual payout of $0.47 per share. The fund has been increasing its distributions for 2 consecutive years.
| Period | TTM | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|
| Dividend | $0.47 | $0.43 | $0.33 | $0.29 | $0.32 | $0.16 |
Dividend yield | 2.52% | 2.31% | 1.80% | 1.42% | 1.59% | 0.77% |
Monthly Dividends
The table displays the monthly dividend distributions for Fidelity Municipal Bond Index 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 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.00 | $0.39 | |
| 2023 | $0.04 | $0.03 | $0.04 | $0.03 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.43 |
| 2022 | $0.02 | $0.02 | $0.02 | $0.02 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.33 |
| 2021 | $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 |
| 2020 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.02 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.32 |
| 2019 | $0.01 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.16 |
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 Municipal Bond Index 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 Municipal Bond Index Fund was 14.31%, occurring on Oct 25, 2022. The portfolio has not yet recovered.
The current Fidelity Municipal Bond Index Fund drawdown is 3.14%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -14.31% | Aug 6, 2021 | 310 | Oct 25, 2022 | — | — | — |
| -11.07% | Mar 10, 2020 | 9 | Mar 20, 2020 | 215 | Jan 27, 2021 | 224 |
| -1.95% | Feb 16, 2021 | 8 | Feb 25, 2021 | 69 | Jun 4, 2021 | 77 |
| -1.63% | Sep 3, 2019 | 11 | Sep 17, 2019 | 76 | Jan 6, 2020 | 87 |
| -0.49% | Jun 15, 2021 | 8 | Jun 24, 2021 | 8 | Jul 7, 2021 | 16 |
Volatility
Volatility Chart
The current Fidelity Municipal Bond Index Fund volatility is 1.80%, 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.