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Fidelity California Municipal Income (FCTFX) Fund Ranking and Research

Ranking, Research and Recommendation of Fidelity California Municipal Income (FCTFX) Fund

    Last Trade: $13.04 on 9/22/2017, Change: +0.00 (0%)

 

Graph of Fidelity California Municipal Income Fund (FCTFX) ManagerFund Manager - Jamie Pagliocco

Fund Manager Information

Fund Manager Tenure: 11.2 years
Fund Family: Fidelity Investments
Fund Category: Muni California Long
Fund Performance: May 30, 2016
Fundmojo Fund Grade: C (Score: 0.56)     (What does this score mean?)
Pagliocco is co-manager of Advisor Municipal Income Fund, which he has managed since February 2009. He also manages other Fidelity funds. Since joining Fidelity Investments in 2001, Mr. Pagliocco has worked as a municipal bond trader, assistant fixed income head trader and portfolio manager.  Get more insights on Jamie Pagliocco

 

Graph of Fidelity California Municipal Income Fund (FCTFX) ProfileFidelity California Municipal Income Fund (FCTFX) Profile

Fund Profile and Description

Fidelity California Municipal Income Fund seeks a high level of current income, exempt from federal and California personal income taxes. Fidelity California Municipal Income Fund normally invests at least 80% of assets in investment-grade municipal securities whose interest is exempt from federal and California personal income taxes. It uses a California bond index as a guide in structuring the fund. Fidelity California Municipal Income Fund potentially invests more than 25% of total assets in municipal securities that finance similar types of projects. It is non-diversified.

 

Fidelity California Municipal Income (FCTFX) Fund Strength What we like about Fidelity California Municipal Income (FCTFX) Fund

Data for Fidelity California Municipal Income Fund (FCTFX) as of May 30, 2016

  • Fidelity California Municipal Income Fund (FCTFX) management has been with Fidelity California Municipal Income Fund for 11.2 years
  • Fidelity California Municipal Income Fund (FCTFX) has good mid-term performance (3-year return 4.77% vs 4.68% Muni California Long category median performance)
  • Fidelity California Municipal Income Fund (FCTFX) ratio of up-years vs down years is greater than 2
  • Asset base in Fidelity California Municipal Income Fund (FCTFX) has been consistently increasing at a reasonable pace in the last 2 months. It shows investor confidence and market support
  • Fidelity California Municipal Income Fund (FCTFX) has an annual stock turnover rate of 11.00% vs Muni California Long average of 19.12%. It is good that Fidelity California Municipal Income management does not trade extensively for its return.
  • Fidelity California Municipal Income Fund (FCTFX) is less volatile than its peers as it has a 3-year Standard Deviation of 3.5, lower than category average of 4.35
  • Fidelity California Municipal Income Fund (FCTFX) has a lower expense ratio than its Muni California Long average: 0.46% vs 0.88%
  • Fidelity California Municipal Income Fund (FCTFX) is a true no-load fund as it has no load and no 12b1 promotion, distributions, marketing expenses

Fidelity California Municipal Income Fund (FCTFX) Weakness What we are cautious about Fidelity California Municipal Income (FCTFX) Fund

Data for Fidelity California Municipal Income Fund (FCTFX) as of May 30, 2016

  • Fidelity California Municipal Income Fund (FCTFX) has a less-than-ideal short-term performance (1-year return 6.03% vs 6.63% Muni California Long category median performance)
  • Fidelity California Municipal Income Fund (FCTFX) has a less-than-ideal Long-term performance (5-year return 6.05% vs 6.44% Muni California Long category median performance)
  • Fidelity California Municipal Income Fund (FCTFX) has a Morningstar rating of 3 and below
  • Fidelity California Municipal Income Fund (FCTFX) is less safe compared to its Muni California Long peers
See Fidelity California Municipal Income Fund (FCTFX) performance details as of May 30, 2016

 

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Compare Fidelity California Municipal Income Fund (FCTFX)Compare with other top Muni California Long category mutual funds

Aadditional top Muni California Long mutual funds for your consideration

FundYear to Date1 Year3 year5 year
Fidelity California Municipal Income2.786.034.776.05
American Century CA Hi-Yld Muni Inv (BCHYX)4.258.696.057.62Compare
Franklin CA High Yield Municipal A (FCAMX)4.218.376.058.83Compare
Invesco CA Tax-Free Income Y (CLFDX)3.587.595.247.01Compare

See top fund managers for Muni California Long Category Funds

 

Compare Fidelity California Municipal Income Fund (FCTFX)Compare with Muni California Long category ETFs

Some Muni California Long ETFs for your consideration

ETFYear to DateOne YearThree Year
SPDR Nuveen Barclays CA Muni Bd ETF (CXA)3.30%7.63%5.25%

 

Graph of Fidelity California Municipal Income Fund (FCTFX) Net Asset TrackingFidelity California Municipal Income (FCTFX) Fund Net Asset

Track net asset change of Fidelity California Municipal Income fund (FCTFX)

DateNet Asset
05/2016$2.08B
03/2016$2.02B
02/2016$1.99B
More historic net asset information on Fidelity California Municipal Income Fund (FCTFX)

  

Graph of Fidelity California Municipal Income Fund (FCTFX) Portfolio TrackingFidelity California Municipal Income (FCTFX) Fund Portfolio Allocation

Track portfolio allocation change of Fidelity California Municipal Income fund (FCTFX)

DateCashStockBondOther
04/20161.33%0%98.67%0%
02/20161.38%0%98.62%0%
01/20161.42%0%98.58%0%
Click here to see more historic asset allocation information on Fidelity California Municipal Income Fund (FCTFX)

 

graph of Fidelity California Municipal Income Fund (FCTFX) Top 10 Position TrackingTop 10 Holdings in Fidelity California Municipal Income (FCTFX) Fund

Discover what Fidelity California Municipal Income Fund (FCTFX) manager is buying

Apr 29, 2016
California St For Previous Iss Go 0.57% [2.15%]
Los Angeles Calif Dept Wtr & P Pwr 0.01% [1.25%]
California St Various P 6% [1.21%]
San Diego Calif Uni Sch Dist 5% [1.03%]
Sweetwater Calif Un High Sch D Go 5.625% [0.96%]
California St Econ Recover Economi 5.25% [0.76%]
California St Go Bds 6.5% [0.69%]
California Health Facs Fing Au Re 5.625% [0.64%]
California St Go Bds 5.25% [0.62%]
California Health Facs Fing Au Rev Bd 5% [0.6%]

Feb 28, 2016
California St For Previous Iss Go 0.57% [2.19%]
Los Angeles Calif Dept Wtr & P Pwr 0.01% [1.27%]
California St Various P 6% [1.26%]
Sweetwater Calif Un High Sch D Go 5.625% [0.95%]
California St Econ Recover Economi 5.25% [0.8%]
California St Go Bds 6.5% [0.72%]
California Health Facs Fing Au Re 5.625% [0.67%]
California St Go Bds 5.25% [0.65%]
Los Angeles Calif Cmnty Colleg Go Bds 6% [0.62%]
San Bernardino Cnty Calif Ctfs Ref 5.5% [0.62%]

Jan 30, 2016
California St For Previous Iss Go 0.57% [2.2%]
Los Angeles Calif Dept Wtr & P Pwr 0.01% [1.29%]
California St Various P 6% [1.27%]
Sweetwater Calif Un High Sch D Go 5.625% [0.96%]
California St Econ Recover Economi 5.25% [0.8%]
California St Go Bds 6.5% [0.72%]
California Health Facs Fing Au Re 5.625% [0.67%]
California St Go Bds 5.25% [0.65%]
Los Angeles Calif Cmnty Colleg Go Bds 6% [0.62%]
San Bernardino Cnty Calif Ctfs Ref 5.5% [0.62%]
Click here for Stock Holding Change Map in Fidelity California Municipal Income Fund (FCTFX)

  

Latest News on Fidelity California Municipal Income (FCTFX) Fund

See what is happening with Fidelity California Municipal Income Fund (FCTFX)

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Fidelity California Municipal Income Fund (FCTFX) Related ResourcesSee more information on Fidelity California Municipal Income (FCTFX) Fund

Popular pages on Fidelity California Municipal Income (FCTFX) Fund

  

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