Morningstar

Fidelity Advisor California Municipal Income Fund - Class A FCMAX

Morningstar Medalist Rating
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Medalist Rating as of See Fidelity Investment Hub
  • NAV / 1-Day Return $11.91  /  0.00
  • Fund Size $1.7B
  • Adjusted Expense Ratio 0.760%
  • Net Expense Ratio 0.760%
  • Fee Level: Distribution Average
  • Share Class Type Front Load
  • Morningstar Category Muni California Long
  • Fixed-Income Style Box (Funds) Medium/Extensive
  • Minimum Initial Investment $0
  • Investment Status Open
  • TTM Yield 2.95%
  • Average Effective Duration 7.77 yrs
NAV and 1-Day Return as of

Morningstar’s Analysis FCMAX

Will FCMAX outperform in the 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 FCMAX’s performance objective and investment process is for both security selection and portfolio construction.

  • People Pillar

    The People Pillar is our evaluation of the FCMAX 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 FCMAX’s parent organization’s priorities and whether they’re in line with investors’ interests.

A top pick for California muni investors.

Associate Director Tom Murphy

Tom Murphy

Associate Director

Summary

Fidelity California Municipal Income’s seasoned team applies a consistent and risk-aware process that has historically offered investors a smoother ride than many muni California long Morningstar Category peers.

by Tom Murphy
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Portfolio Holdings FCMAX

More FCMAX Holdings
  • Current Portfolio Date
  • Equity Holdings —
  • Bond Holdings —
  • Other Holdings —
  • % Assets in Top 10 Holdings 10.6
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

UNIVERSITY CALIF REVS 5.5%

1.56 29M
municipal

CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REV 5%

1.17 21M
municipal

CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REV 5%

1.16 21M
municipal

CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REV 5%

1.07 20M
municipal

SOUTHERN CALIF PUB PWR AUTH REV 5%

1.06 19M
municipal

SAN FRANCISCO CALIF CITY & CNTY ARPTS COMMN INTL ARPT REV 5.5%

1.00 18M
municipal

CALIFORNIA INFRASTRUCTURE & ECONOMIC DEV BK REV 1.2%

0.92 17M
municipal

CENTRAL VY ENERGY AUTH CALIF COMMODITY SUPPLY REV 5%

0.91 17M
municipal

CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REV 5.25%

0.90 17M
municipal

UNIVERSITY CALIF REVS 3%

0.87 16M
municipal

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