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Morningstar

Strategic Advisers Municipal Bond FSMUX

Morningstar Medalist Rating
Medalist Rating as of | See Fidelity Investment Hub
  • NAV / 1-Day Return 8.75  /  +0.12 %
  • Total Assets 12.3 Bil
  • Adj. Expense Ratio
    0.250%
  • Expense Ratio 0.250%
  • Distribution Fee Level Low
  • Share Class Type No Load
  • Category Muni National Long
  • Credit Quality / Interest Rate Sensitivity —
  • Min. Initial Investment —
  • Status Open
  • TTM Yield 3.69%
  • Effective Duration —

USD | NAV as of Jun 01, 2024 | 1-Day Return as of Jun 01, 2024, 4:34 AM GMT+0

Morningstar’s Analysis FSMUX

Will FSMUX outperform in future?

Get our overall rating based on a fundamental assessment of the pillars below.

  • Process Pillar

    The Process Pillar is our assessment of how sensible, clearly defined, and repeatable FSMUX’s performance objective and investment process is for both security selection and portfolio construction.

  • People Pillar

    The People Pillar is our evaluation of the FSMUX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.

  • Parent Pillar

    The Parent Pillar is our rating of FSMUX’s parent organization’s priorities and whether they’re in line with investors’ interests.

Strategic Advisers Municipal Bond's recent fee cut and People Pillar rating increase lead to an upgrade in this strategy's Morningstar Medalist Rating to Bronze from Neutral.

null Morningstar Manager Research

Morningstar Manager Research

Summary

The portfolio maintains a cost advantage over competitors, priced within the least expensive fee quintile among peers.

by Morningstar Manager Research
Rated on Published on

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Portfolio Holdings FSMUX

More FSMUX Holdings
  • Current Portfolio Date
  • Equity Holdings —
  • Bond Holdings —
  • Other Holdings —
  • % Assets in Top 10 Holdings 27.4
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

Vanguard Long-Term Tax-Exempt Adm

5.21 642.4 Mil
—

Franklin Federal Tax Free Income R6

4.47 551.0 Mil
—

Allspring Municipal Bond Admin

4.44 547.2 Mil
—

iShares National Muni Bond ETF

3.59 442.7 Mil
—

Vanguard Tax-Exempt Bond ETF

2.85 351.5 Mil
—

DWS Managed Municipal Bond S

2.40 295.7 Mil
—

Fidelity Inv MM Government Instl

1.87 231.1 Mil
Cash and Equivalents

BlackRock National Municipal Inv A

1.51 186.7 Mil
—

Eaton Vance National Municipal Income I

1.27 157.2 Mil
—

American High-Income Municipal Bond F-2

0.95 117.6 Mil
—