While there's been some change, the team at Fidelity California Municipal Income remains large and experienced. This and the strategy's consistent and distinctive approach will serve investors well, resulting in a Morningstar Analyst Rating of Silver for the strategy's cheapest share classes, while its more expensive share classes earn Bronze and Neutral ratings.
Will FCMQX outperform in future?
Get our overall rating based on a fundamental assessment of the pillars below.
The Process Pillar is our assessment of how sensible, clearly defined, and repeatable FCMQX’s performance objective and investment process is for both security selection and portfolio construction.
The People Pillar is our evaluation of the FCMQX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.
The Parent Pillar is our rating of FCMQX’s parent organization’s priorities and whether they’re in line with investors’ interests.