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Fidelity Advisor® California Muni Inc M FCMTX

Morningstar Analyst Rating
Analyst rating as of
NAV / 1-Day Return
13.49  /  0.07 %
Total Assets
2.3 Bil
Adj. Expense Ratio
0.720%
Expense Ratio
0.720%
Fee Level
Below Average
Longest Manager Tenure
5.14 years
Category
Muni California Long
Credit Quality / Interest Rate Sensitivity
Medium / Moderate
Min. Initial Investment
0
Status
Open
TTM Yield
2.08%
Effective Duration
5.72 years

USD | NAV as of Jun 23, 2021 | 1-Day Return as of Jun 23, 2021, 9:33 PM GMT+00:00

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Morningstar’s Analysis

Will FCMTX outperform in future?

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

Process Pillar

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

People Pillar

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The People Pillar is our evaluation of the FCMTX 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

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

A solid choice.

Senior Analyst

Summary

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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.

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