Morningstar

Fidelity Advisor Municipal Income Fund - Class I FROGX

Morningstar Medalist Rating
Medalist Rating as of | See Fidelity Investment Hub
  • NAV / 1-Day Return 11.61  /  +0.61 %
  • Total Assets 5.2B
  • Adj. Expense Ratio
    0.500%
  • Expense Ratio 0.500%
  • Distribution Fee Level Below Average
  • Share Class Type Institutional
  • Category Muni National Long
  • Credit Quality / Interest Rate Sensitivity Medium/Extensive
  • Min. Initial Investment 0
  • Status Open
  • TTM Yield 3.30%
  • Effective Duration 7.45 years

USD | NAV as of Oct 02, 2026 | 1-Day Return as of Oct 02, 2026, 4:50 AM GMT+0

Morningstar’s Analysis FROGX

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

  • People Pillar

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

A top pick for muni investors.

Associate Director Tom Murphy

Tom Murphy

Associate Director

Summary

Fidelity Municipal Income’s seasoned team applies a consistent and risk-aware process that has historically offered investors a smoother ride than many muni national long Morningstar Category peers.

by Tom Murphy
Rated on Published on

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Portfolio Holdings FROGX

More FROGX Holdings
  • Current Portfolio Date
  • Equity Holdings —
  • Bond Holdings —
  • Other Holdings —
  • % Assets in Top 10 Holdings 8.8
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

Fidelity Municipal Cash Central

1.28 70M
Cash and Equivalents

SOUTHEAST ENERGY AUTH COOP DIST ALA ENERGY SUPPLY REV 5%

1.19 65M
municipal

BLACK BELT ENERGY GAS DIST ALA GAS PROJ REV 5%

1.10 60M
municipal

SAN FRANCISCO CALIF CITY & CNTY ARPTS COMMN INTL ARPT REV 5.25%

1.01 55M
municipal

SAN FRANCISCO CALIF CITY & CNTY ARPTS COMMN INTL ARPT REV 5.25%

0.92 50M
municipal

BLACK BELT ENERGY GAS DIST ALA GAS PROJ REV 5%

0.84 46M
municipal

BLACK BELT ENERGY GAS DIST ALA GAS PROJ REV 5%

0.81 44M
municipal

SAN FRANCISCO CALIF CITY & CNTY ARPTS COMMN INTL ARPT REV 5.25%

0.78 42M
municipal

BLACK BELT ENERGY GAS DIST ALA GAS PROJ REV 5%

0.74 40M
municipal

ORANGE CNTY FLA SCH BRD CTFS PARTN 5%

0.71 39M
municipal

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