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Morningstar

Fidelity Maryland Municipal Income SMDMX

Morningstar Medalist Rating
Medalist Rating as of | See Fidelity Investment Hub
  • NAV / 1-Day Return 10.73  /  +0.01 %
  • Total Assets 166.7 Mil
  • Adj. Expense Ratio
    0.550%
  • Expense Ratio 0.550%
  • Distribution Fee Level 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 2.51%
  • Effective Duration 6.23 years

USD | NAV as of Jul 26, 2024 | 1-Day Return as of Jul 26, 2024, 10:17 PM GMT+0

Morningstar’s Analysis SMDMX

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

  • People Pillar

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

Fidelity Maryland Municipal Income boasts strong Process and People Pillar ratings, but other weaknesses hold this strategy's Morningstar Medalist Rating at Neutral.

null Morningstar Manager Research

Morningstar Manager Research

Summary

The portfolio maintains a sizable 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 SMDMX

More SMDMX Holdings
  • Current Portfolio Date
  • Equity Holdings —
  • Bond Holdings —
  • Other Holdings —
  • % Assets in Top 10 Holdings 19.6
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

BALTIMORE MD REV 5%

3.25 5.5 Mil
municipal

WASHINGTON D C MET AREA TRAN AUTH DEDICATED REV 5%

2.11 3.5 Mil
municipal

MARYLAND ST HEALTH & HIGHER EDL FACS AUTH REV 5%

1.93 3.2 Mil
municipal

MARYLAND ST TRANSN AUTH TRANSN FACS PRJS REV 5%

1.87 3.1 Mil
municipal

MONTGOMERY CNTY MD 4%

1.83 3.1 Mil
municipal

MARYLAND ST HEALTH & HIGHER EDL FACS AUTH REV 2.5%

1.81 3.0 Mil
municipal

BALTIMORE MD PROJ REV 5%

1.80 3.0 Mil
municipal

BALTIMORE MD PROJ REV 5%

1.69 2.8 Mil
municipal

BALTIMORE CNTY MD 3%

1.66 2.8 Mil
municipal

MARYLAND ST HEALTH & HIGHER EDL FACS AUTH REV 4%

1.59 2.7 Mil
municipal