Morningstar

Fidelity Advisor Intermediate Municipal Income Fund - Class I FZIIX

Morningstar Medalist Rating
Medalist Rating as of | See Fidelity Investment Hub
  • NAV / 1-Day Return 10.19  /  0.00
  • Total Assets 13.6B
  • Adj. Expense Ratio
    0.440%
  • Expense Ratio 0.440%
  • Distribution Fee Level Below Average
  • Share Class Type Institutional
  • Category Muni National Interm
  • Credit Quality / Interest Rate Sensitivity Medium/Moderate
  • Min. Initial Investment 0
  • Status Open
  • TTM Yield 2.82%
  • Effective Duration 5.13 years

USD | NAV as of Jul 18, 2026 | 1-Day Return as of Jul 18, 2026, 4:47 AM GMT+0

Morningstar’s Analysis FZIIX

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

  • People Pillar

    The People Pillar is our evaluation of the FZIIX 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 FZIIX’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 FZIIX

More FZIIX Holdings
  • Current Portfolio Date
  • Equity Holdings —
  • Bond Holdings —
  • Other Holdings —
  • % Assets in Top 10 Holdings 6.4
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

Fidelity Municipal Cash Central

2.43 326M
Cash and Equivalents

BLACK BELT ENERGY GAS DIST ALA GAS PROJ REV 5%

0.85 114M
municipal

BLACK BELT ENERGY GAS DIST ALA GAS PROJ REV 5%

0.84 113M
municipal

MAIN STR ENERGY INC GA ENERGY PROJ REV 5%

0.73 98M
municipal

MAIN STR ENERGY INC GA ENERGY PROJ REV 5%

0.71 95M
municipal

LOWER ALA GAS DIST GAS PROJ REV 5%

0.59 80M
municipal

SOUTHEAST ENERGY AUTH COOP DIST ALA ENERGY SUPPLY REV 5%

0.59 80M
municipal

BLACK BELT ENERGY GAS DIST ALA GAS PROJ REV 5%

0.58 78M
municipal

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

0.53 71M
municipal

CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REV 5%

0.50 67M
municipal

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