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Morningstar

Fidelity Michigan Municipal Income FMHTX

Morningstar Medalist Rating
Medalist Rating as of | See Fidelity Investment Hub
  • NAV / 1-Day Return 11.53  /  +0.01 %
  • Total Assets 466.2 Mil
  • Adj. Expense Ratio
    0.460%
  • Expense Ratio 0.460%
  • Distribution Fee Level Below Average
  • Share Class Type No Load
  • Category Muni Single State Long
  • Credit Quality / Interest Rate Sensitivity Medium/Moderate
  • Min. Initial Investment —
  • Status Open
  • TTM Yield 2.61%
  • Effective Duration 6.34 years

USD | NAV as of Jul 27, 2024 | 1-Day Return as of Jul 27, 2024, 4:51 AM GMT+0

Morningstar’s Analysis FMHTX

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

  • People Pillar

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

A strong management team and sound investment process underpin Fidelity Michigan Municipal Income's Morningstar Medalist Rating of Bronze.

null Morningstar Manager Research

Morningstar Manager Research

Summary

The portfolio maintains a cost advantage over competitors, priced within the least expensive fee quintile among peers.

by Morningstar Manager Research
Rated on Published on

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Portfolio Holdings FMHTX

More FMHTX Holdings
  • Current Portfolio Date
  • Equity Holdings —
  • Bond Holdings —
  • Other Holdings —
  • % Assets in Top 10 Holdings 15.0
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

MICHIGAN FIN AUTH REV 5%

2.62 12.1 Mil
municipal

MICHIGAN FIN AUTH REV 4%

1.62 7.5 Mil
municipal

MICHIGAN ST STRATEGIC FD LTD OBLIG REV 3.875%

1.51 7.0 Mil
municipal

MICHIGAN ST BLDG AUTH REV 3%

1.47 6.8 Mil
municipal

MICHIGAN ST HOSP FIN AUTH REV 5%

1.36 6.3 Mil
municipal

WAYNE CNTY MICH ARPT AUTH REV 5%

1.32 6.1 Mil
municipal

Fidelity Municipal Cash Central

1.31 6.1 Mil
Cash and Equivalents

MICHIGAN FIN AUTH REV 4%

1.29 6.0 Mil
municipal

MICHIGAN ST STRATEGIC FD LTD OBLIG REV 1.8%

1.28 5.9 Mil
municipal

WAYNE CNTY MICH ARPT AUTH REV 5%

1.26 5.8 Mil
municipal