Fidelity Flex Municipal Income Fund (FUENX)
The fund normally invests at least 80% of assets in investment-grade municipal securities whose interest is exempt from federal income tax. The advisor manages the fund to have similar overall interest rate risk to the Bloomberg Barclays Municipal Bond Index. The fund allocates assets across different market sectors and maturities. It potentially invests more than 25% of total assets in municipal securities that finance similar types of projects.
Fund Info
| ISIN | US3162038273 |
|---|---|
| CUSIP | 316203827 |
| Issuer | Fidelity |
| Inception Date | Oct 12, 2017 |
| Category | Municipal Bonds |
| Min. Investment | $0 |
| Asset Class | Bond |
Expense Ratio
FUENX has an expense ratio of 0.00%, indicating no management fees are charged.
Share Price Chart
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Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in Fidelity Flex 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 Flex Municipal Income Fund had a return of 2.88% year-to-date (YTD) and 7.99% in the last 12 months.
| Period | Return | Benchmark |
|---|---|---|
| Year-To-Date | 2.88% | 13.39% |
| 1 month | 0.55% | 4.02% |
| 6 months | 2.28% | 5.56% |
| 1 year | 7.99% | 21.51% |
| 5 years (annualized) | 1.37% | 12.69% |
| 10 years (annualized) | N/A | 10.55% |
Monthly Returns
The table below presents the monthly returns of FUENX, 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 | 0.16% | 0.12% | -0.10% | -0.85% | -0.06% | 1.58% | 0.86% | 0.51% | 2.88% | ||||
| 2023 | 3.51% | -2.37% | 2.22% | -0.21% | -0.71% | 0.95% | 0.33% | -1.02% | -2.84% | -1.04% | 6.18% | 2.39% | 7.24% |
| 2022 | -2.61% | -0.56% | -3.18% | -3.04% | 1.70% | -1.69% | 2.63% | -2.21% | -3.71% | -1.00% | 4.97% | -0.11% | -8.82% |
| 2021 | 0.83% | -1.46% | 0.64% | 1.01% | 0.52% | 0.32% | 0.80% | -0.34% | -0.81% | -0.15% | 0.79% | 0.17% | 2.31% |
| 2020 | 1.76% | 1.52% | -5.61% | -2.58% | 2.97% | 1.89% | 1.96% | -0.11% | -0.02% | -0.11% | 1.44% | 0.94% | 3.79% |
| 2019 | 0.75% | 0.63% | 1.65% | 0.44% | 1.63% | 0.53% | 0.82% | 1.59% | -0.74% | 0.13% | 0.19% | 0.39% | 8.27% |
| 2018 | -1.48% | -0.53% | 0.42% | -0.33% | 1.24% | -0.20% | 0.45% | 0.13% | -0.59% | -0.68% | 1.17% | 1.17% | 0.73% |
| 2017 | -0.20% | -0.35% | 1.22% | 0.66% |
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
The current rank of FUENX is 70, 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 Flex Municipal Income Fund (FUENX) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.
Dividends
Dividend History
Fidelity Flex Municipal Income Fund granted a 2.76% dividend yield in the last twelve months. The annual payout for that period amounted to $0.27 per share.
| Period | TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|
| Dividend | $0.27 | $0.25 | $0.20 | $0.18 | $0.23 | $0.31 | $0.26 | $0.04 |
Dividend yield | 2.76% | 2.57% | 2.11% | 1.72% | 2.23% | 2.95% | 2.62% | 0.36% |
Monthly Dividends
The table displays the monthly dividend distributions for Fidelity Flex 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 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.00 | $0.19 | |||
| 2023 | $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 |
| 2022 | $0.01 | $0.01 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.20 |
| 2021 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.02 | $0.18 |
| 2020 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.23 |
| 2019 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.05 | $0.31 |
| 2018 | $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 |
| 2017 | $0.02 | $0.02 | $0.04 |
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 Flex 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 Flex Municipal Income Fund was 13.85%, occurring on Oct 25, 2022. Recovery took 450 trading sessions.
The current Fidelity Flex Municipal Income Fund drawdown is 0.06%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -13.85% | Jul 21, 2021 | 322 | Oct 25, 2022 | 450 | Aug 5, 2024 | 772 |
| -12.95% | Mar 10, 2020 | 9 | Mar 20, 2020 | 185 | Dec 11, 2020 | 194 |
| -2.67% | Dec 7, 2017 | 95 | Apr 25, 2018 | 167 | Dec 20, 2018 | 262 |
| -1.98% | Feb 17, 2021 | 7 | Feb 25, 2021 | 62 | May 25, 2021 | 69 |
| -1.62% | Sep 5, 2019 | 9 | Sep 17, 2019 | 74 | Jan 2, 2020 | 83 |
Volatility
Volatility Chart
The current Fidelity Flex Municipal Income Fund volatility is 0.58%, 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.