Morningstar

Fidelity Advisor California Municipal Income Fund - Class I FCMQX

Morningstar Medalist Rating
Medalist Rating as of | See Fidelity Investment Hub
  • NAV / 1-Day Return 12.37  /  0.00
  • Total Assets 1.9B
  • Adj. Expense Ratio
    0.520%
  • Expense Ratio 0.520%
  • Distribution Fee Level Average
  • Share Class Type Institutional
  • Category Muni California Long
  • Credit Quality / Interest Rate Sensitivity Medium/Extensive
  • Min. Initial Investment 0
  • Status Open
  • TTM Yield 2.94%
  • Effective Duration 7.48 years

USD | NAV as of Jun 13, 2026 | 1-Day Return as of Jun 13, 2026, 5:30 AM GMT+0

Morningstar’s Analysis FCMQX

Will FCMQX 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 FCMQX’s performance objective and investment process is for both security selection and portfolio construction.

  • People Pillar

    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.

  • Parent Pillar

    The Parent Pillar is our rating of FCMQX’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
Rated on Published on

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Portfolio Holdings FCMQX

More FCMQX Holdings
  • Current Portfolio Date
  • Equity Holdings —
  • Bond Holdings —
  • Other Holdings —
  • % Assets in Top 10 Holdings 9.7
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

LOS ANGELES CALIF DEPT WTR & PWR WTRWKS REV 5%

1.43 27M
municipal

CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REV 5%

1.07 20M
municipal

CALIFORNIA ST 5%

0.98 18M
municipal

CENTRAL VY ENERGY AUTH CALIF COMMODITY SUPPLY REV 5%

0.91 17M
municipal

CALIFORNIA HEALTH FACS FING AUTH REV 5%

0.91 17M
municipal

CALIFORNIA INFRASTRUCTURE & ECONOMIC DEV BK REV 1.2%

0.91 17M
municipal

UNIVERSITY CALIF REVS 3%

0.90 17M
municipal

SAN FRANCISCO CALIF CITY & CNTY PUB UTILS COMMN WTR REV 5.25%

0.87 16M
municipal

CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REV 5%

0.87 16M
municipal

CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REV 5%

0.86 16M
municipal

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