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A Cautious Muni Fund for a Rocky Market

Gold-rated Fidelity Tax-Free Bond steers clear of leverage and volatile parts of the market, offering downside protection when the market heads south.


Beth Foos: Fidelity Tax-Free Bond (FTABX) is a solid choice for investors looking for exposure to a large national muni fund. This fund takes a relatively cautious approach, which offers downside protection in a rocky muni market.

But that's not all it has going for it: The fund's combination of a strong long-term record, low volatility rates, a well-resourced team, and super-low fees earn it a Morningstar Analyst Rating of Gold. 

Elizabeth Foos does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.