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Morningstar

Fidelity® California Municipal Income FCTFX

Morningstar Analyst Rating
Analyst rating as of
  • NAV / 1-Day Return 12.18  /  0.00 %
  • Total Assets 1.8 Bil
  • Adj. Expense Ratio
    0.450%
  • Expense Ratio 0.450%
  • Distribution Fee Level Below Average
  • Share Class Type No Load
  • Category Muni California Long
  • Credit Quality / Interest Rate Sensitivity Medium / Moderate
  • Min. Initial Investment 0
  • Status Open
  • TTM Yield 2.31%
  • Effective Duration 6.79 years

USD | NAV as of Jan 31, 2023 | 1-Day Return as of Jan 31, 2023, 11:12 PM GMT+00:00

Morningstar’s Analysis FCTFX

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

People Pillar

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

A respectable choice in California.

Associate Director

Summary

| by Elizabeth Foos

The team managing Fidelity California Municipal Income is skilled and collaborative. This and the strategy's consistent and distinctive approach 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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