Morningstar

Fidelity SAI Municipal Income Fund FSMNX

Morningstar Medalist Rating
Medalist Rating as of | See Fidelity Investment Hub
  • NAV / 1-Day Return 9.83  /  +0.31 %
  • Total Assets 3.8B
  • Adj. Expense Ratio
    0.350%
  • Expense Ratio 0.350%
  • Distribution Fee Level Low
  • Share Class Type No Load
  • Category Muni National Long
  • Credit Quality / Interest Rate Sensitivity Medium/Extensive
  • Min. Initial Investment 0
  • Status Open
  • TTM Yield 3.46%
  • Effective Duration 7.40 years

USD | NAV as of Aug 08, 2026 | 1-Day Return as of Aug 08, 2026, 4:50 AM GMT+0

Morningstar’s Analysis FSMNX

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

  • People Pillar

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

null Morningstar Automated Analysis

Morningstar Automated Analysis

Summary

Fidelity SAI Municipal Income holds a quantitatively derived Gold Morningstar Medalist Rating. The rating reflects that it has scored particularly well on factors Morningstar research associates with future outperformance relative to category peers.

by Morningstar Automated Analysis
Rated on Published on

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Portfolio Holdings FSMNX

More FSMNX 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

3.87 140M
Cash and Equivalents

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

1.24 45M
municipal

SOUTHEAST ENERGY AUTH COOP DIST ALA ENERGY SUPPLY REV 5%

1.19 43M
municipal

METROPOLITAN NASHVILLE ARPT AUTH TENN ARPT REV 5.25%

1.01 37M
municipal

BLACK BELT ENERGY GAS DIST ALA GAS PROJ REV 5%

0.90 33M
municipal

BLACK BELT ENERGY GAS DIST ALA GAS PROJ REV 5%

0.84 30M
municipal

BLACK BELT ENERGY GAS DIST ALA GAS PROJ REV 5%

0.79 29M
municipal

NEW JERSEY ST TRANSN TR FD AUTH 5.25%

0.73 26M
municipal

METROPOLITAN TRANSN AUTH N Y REV 5%

0.72 26M
municipal

MAIN STR ENERGY INC GA ENERGY PROJ REV 5%

0.68 25M
municipal

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