Morningstar

Fidelity Advisor Intermediate Municipal Income Fund - Class A FZIAX

Morningstar Medalist Rating
Medalist Rating as of | See Fidelity Investment Hub
  • NAV / 1-Day Return 10.15  /  −0.20 %
  • Total Assets 13.6B
  • Adj. Expense Ratio
    0.680%
  • Expense Ratio 0.680%
  • Distribution Fee Level Below Average
  • Share Class Type Front Load
  • Category Muni National Interm
  • Credit Quality / Interest Rate Sensitivity Medium/Moderate
  • Min. Initial Investment 0
  • Status Open
  • TTM Yield 2.58%
  • Effective Duration 5.13 years

USD | NAV as of Jul 22, 2026 | 1-Day Return as of Jul 22, 2026, 4:51 AM GMT+0

Morningstar’s Analysis FZIAX

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

  • People Pillar

    The People Pillar is our evaluation of the FZIAX 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 FZIAX’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 Intermediate Municipal Income’s seasoned team applies a consistent and risk-aware process that has historically offered investors a smoother ride than many muni national intermediate Morningstar Category peers.

by Tom Murphy
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Portfolio Holdings FZIAX

More FZIAX Holdings
  • Current Portfolio Date
  • Equity Holdings —
  • Bond Holdings —
  • Other Holdings —
  • % Assets in Top 10 Holdings 6.2
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

Fidelity Municipal Cash Central

5.25 725M
Cash and Equivalents

BLACK BELT ENERGY GAS DIST ALA GAS PROJ REV 5%

0.82 114M
municipal

BLACK BELT ENERGY GAS DIST ALA GAS PROJ REV 5%

0.81 112M
municipal

MAIN STR ENERGY INC GA ENERGY PROJ REV 5%

0.71 97M
municipal

MAIN STR ENERGY INC GA ENERGY PROJ REV 5%

0.69 95M
municipal

LOWER ALA GAS DIST GAS PROJ REV 5%

0.58 80M
municipal

SOUTHEAST ENERGY AUTH COOP DIST ALA ENERGY SUPPLY REV 5%

0.58 79M
municipal

BLACK BELT ENERGY GAS DIST ALA GAS PROJ REV 5%

0.56 78M
municipal

TEXAS MUN GAS ACQUISTION & SUPPLY CORP VI GAS SUPPLY REV 5.25%

0.51 70M
municipal

CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REV 5%

0.49 67M
municipal

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