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Fidelity Minnesota Municipal Income (FIMIX) Fund Ranking and Research

Ranking, Research and Recommendation of Fidelity Minnesota Municipal Income (FIMIX) Fund

    Last Trade: $ on , Change: (0%)

 

Graph of Fidelity Minnesota Municipal Income Fund (FIMIX) ManagerFund Manager - Cormac Cullen

Fund Manager Information

Fund Manager Tenure: 2.4 years
Similar Funds: FIMNX 
Fund Family: Fidelity Investments
Fund Category: Muni Minnesota
Fund Performance: May 30, 2016
Fundmojo Fund Grade: C (Score: 0.57)     (What does this score mean?)

 

Graph of Fidelity Minnesota Municipal Income Fund (FIMIX) ProfileFidelity Minnesota Municipal Income Fund (FIMIX) Profile

Fund Profile and Description

Fidelity Minnesota Municipal Income Fund seeks current income exempt from federal and Minnesota income taxes. Fidelity Minnesota Municipal Income Fund normally invests at least 80% of assets in investment-grade municipal securities whose interest is exempt from federal and Minnesota personal income taxes. It allocates assets across different market sectors and maturities and invests more than 25% of total assets in municipal securities that finance similar types of projects. Fidelity Minnesota Municipal Income Fund is non-diversified.

 

Fidelity Minnesota Municipal Income (FIMIX) Fund Strength What we like about Fidelity Minnesota Municipal Income (FIMIX) Fund

Data for Fidelity Minnesota Municipal Income Fund (FIMIX) as of May 30, 2016

  • Fidelity Minnesota Municipal Income Fund (FIMIX) has good short-term performance (1-year return 5.04% vs 4.55% Muni Minnesota category median performance)
  • Fidelity Minnesota Municipal Income Fund (FIMIX) ratio of up-years vs down years is greater than 2
  • Asset base in Fidelity Minnesota Municipal Income Fund (FIMIX) has been consistently increasing at a reasonable pace in the last 2 months. It shows investor confidence and market support
  • Fidelity Minnesota Municipal Income Fund (FIMIX) is less volatile than its peers as it has a 3-year Standard Deviation of 2.72, lower than category average of 3.37
  • Fidelity Minnesota Municipal Income Fund (FIMIX) has a lower expense ratio than its Muni Minnesota average: 0.49% vs 0.96%
  • Fidelity Minnesota Municipal Income Fund (FIMIX) is a true no-load fund as it has no load and no 12b1 promotion, distributions, marketing expenses

Fidelity Minnesota Municipal Income Fund (FIMIX) Weakness What we are cautious about Fidelity Minnesota Municipal Income (FIMIX) Fund

Data for Fidelity Minnesota Municipal Income Fund (FIMIX) as of May 30, 2016

  • Fidelity Minnesota Municipal Income Fund (FIMIX) management has been with Fidelity Minnesota Municipal Income Fund for only 2.4 years, it is hard to judge manager's ability based on this fund's operation record
  • Fidelity Minnesota Municipal Income Fund (FIMIX) has a less-than-ideal mid-term performance (3-year return 3.34% vs 3.37% Muni Minnesota category median performance)
  • Fidelity Minnesota Municipal Income Fund (FIMIX) has a less-than-ideal Long-term performance (5-year return 4.04% vs 4.37% Muni Minnesota category median performance)
  • Fidelity Minnesota Municipal Income Fund (FIMIX) has a Morningstar rating of 3 and below
  • Fidelity Minnesota Municipal Income Fund (FIMIX) has an annual stock turnover rate of 13.00% that is higher than the Muni Minnesota average of 8.07%. This could mean Fidelity Minnesota Municipal Income is more nimble, but also signal potential high tax impact and high trading fees
See Fidelity Minnesota Municipal Income Fund (FIMIX) performance details as of May 30, 2016

 

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Compare Fidelity Minnesota Municipal Income Fund (FIMIX)Compare with other top Muni Minnesota category mutual funds

Aadditional top Muni Minnesota mutual funds for your consideration

FundYear to Date1 Year3 year5 year
Fidelity Minnesota Municipal Income2.235.043.344.04
Columbia Minnesota Tax-Exempt A (IMNTX)2.475.734.155.39Compare
Delaware MN High-Yield Muni Bd A (DVMHX)2.264.973.675.22Compare
Columbia Minnesota Tax-Exempt Z (CMNZX)2.765.994.415.65Compare

See top fund managers for Muni Minnesota Category Funds

 

Graph of Fidelity Minnesota Municipal Income Fund (FIMIX) Net Asset TrackingFidelity Minnesota Municipal Income (FIMIX) Fund Net Asset

Track net asset change of Fidelity Minnesota Municipal Income fund (FIMIX)

DateNet Asset
05/2016$531.57M
03/2016$520.20M
02/2016$516.21M
More historic net asset information on Fidelity Minnesota Municipal Income Fund (FIMIX)

  

Graph of Fidelity Minnesota Municipal Income Fund (FIMIX) Portfolio TrackingFidelity Minnesota Municipal Income (FIMIX) Fund Portfolio Allocation

Track portfolio allocation change of Fidelity Minnesota Municipal Income fund (FIMIX)

DateCashStockBondOther
04/20162.12%0%97.88%0%
02/20162.75%0%97.25%0%
01/20161.79%0%98.21%0%
Click here to see more historic asset allocation information on Fidelity Minnesota Municipal Income Fund (FIMIX)

 

graph of Fidelity Minnesota Municipal Income Fund (FIMIX) Top 10 Position TrackingTop 10 Holdings in Fidelity Minnesota Municipal Income (FIMIX) Fund

Discover what Fidelity Minnesota Municipal Income Fund (FIMIX) manager is buying

Apr 29, 2016
Minnesota St Go St Ref 5% [2.23%]
Western Minn Mun Pwr Agy Minn Rev Bds 5% [2.19%]
Minneapolis & St Paul Minn Met Rev Re 5% [1.36%]
Minnesota Pub Facs Auth 5% [1.21%]
Univ Minn Spl Purp Rev Rev Bds 5% [1.18%]
Minnesota St Gen Fd Rev St Gen 5% [1.16%]
Southern Minn Mun Pwr Agy Pwr Cap Appre [1.16%]

Feb 28, 2016
Minnesota St Gen Fd Rev St Gen 5% [2.94%]
Minnesota St Go St Ref 5% [2.28%]
Western Minn Mun Pwr Agy Minn Rev Bds 5% [2.22%]
St Louis Park Minn Health Care Hlt 5.75% [2.03%]
Minneapolis & St Paul Minn Met Rev Re 5% [1.35%]
Minnesota Pub Facs Auth 5% [1.21%]
Chaska Minn Indpt Sch Dist 5% [1.17%]
Southern Minn Mun Pwr Agy Pwr Cap Appre [1.17%]

Jan 30, 2016
Minnesota St Go St Ref 5% [2.29%]
Western Minn Mun Pwr Agy Minn Rev Bds 5% [2.23%]
St Louis Park Minn Health Care Hlt 5.75% [2.05%]
Minneapolis & St Paul Minn Met Rev Re 5% [1.37%]
Chaska Minn Indpt Sch Dist 5% [1.19%]
Univ Minn Spl Purp Rev Rev Bds 5% [1.19%]
Minnesota St Gen Fd Rev St Gen 5% [1.18%]
Southern Minn Mun Pwr Agy Pwr Cap Appre [1.18%]
Click here for Stock Holding Change Map in Fidelity Minnesota Municipal Income Fund (FIMIX)

  

Latest News on Fidelity Minnesota Municipal Income (FIMIX) Fund

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