Fidelity SAI Enhanced Municipal Income Fund (FENCX)
10.28
+0.01
(+0.10%)
USD |
Feb 27 2026
Returns Chart
Key Stats
| Net Expense Ratio | Total Assets Under Management | Weighted Average Dividend Yield | Turnover Ratio (Generic) |
|---|---|---|---|
| 0.15% | 1.216B | -- | -- |
| 1 Year Fund Level Flows | 1 Year Total Returns (Daily) | Annualized Total Returns Since Inception (Daily) | Max Drawdown (Since Inception) |
| 1.177B | -- |
Basic Info
| Investment Strategy | |
| The Fund seeks to provide a high current yield exempt from federal income tax. The Adviser normally invests the fund's assets in municipal securities whose interest is exempt from federal income tax. The municipal securities in which the fund invests are normally investment-grade (those of medium and high quality). |
| General | |
| Security Type | Mutual Fund |
| Equity Style | -- |
| Broad Asset Class | Municipal Bond |
| Broad Category | Fixed Income |
| Global Peer Group | Bond USD Municipal High Yield |
| Peer Group | High Yield Municipal Debt Funds |
| Global Macro | Bond High Yield |
| US Macro | National Municipal Debt Funds |
| YCharts Categorization | -- |
| YCharts Benchmark | -- |
| Prospectus Objective | High Yield Municipal Debt Funds |
| Fund Owner Firm Name | Fidelity Investments |
| Broad Asset Class Benchmark Index | |
| ^BBMBTR | 100.0% |
Net Fund Flows Versus Peer Group
1 Month
% Rank:
25
-48.92M
Peer Group Low
264.63M
Peer Group High
1 Year
% Rank:
7
1.177B
-2.368B
Peer Group Low
2.546B
Peer Group High
3 Months
% Rank:
5
-692.46M
Peer Group Low
715.15M
Peer Group High
3 Years
% Rank:
18
-6.445B
Peer Group Low
7.495B
Peer Group High
6 Months
% Rank:
5
-986.76M
Peer Group Low
1.356B
Peer Group High
5 Years
% Rank:
22
-7.159B
Peer Group Low
11.04B
Peer Group High
YTD
% Rank:
10
-68.44M
Peer Group Low
523.29M
Peer Group High
10 Years
% Rank:
31
-4.771B
Peer Group Low
15.25B
Peer Group High
Date Unavailable
Risk
Performance Versus Peer Group
Annual Total Returns Versus Peers
As of March 02, 2026.
Asset Allocation
As of December 31, 2025.
| Type | % Net |
|---|---|
| Cash | 4.16% |
| Stock | 0.00% |
| Bond | 95.06% |
| Convertible | 0.00% |
| Preferred | 0.00% |
| Other | 0.78% |
Top 10 Holdings
| Name | % Weight | Price | % Change |
|---|---|---|---|
|
Fidelity Municipal Cash Central Fund
|
4.13% | -- | -- |
| iShares National Muni Bond ETF | 1.91% | 108.92 | 0.00% |
| Vanguard Tax-Exempt Bond Index Fund ETF | 1.54% | 51.15 | 0.04% |
|
Other Assets less Liabilities
|
0.76% | -- | -- |
| MAIN STR NAT GAS INC GA GAS SUPPLY REV GA 5.000 06/01/2053 | 0.38% | 106.44 | 0.05% |
| KENTUCKY INC KY PUB ENERGY AUTH GAS SUPPLY REV KY 5.250 06/01/2055 | 0.34% | 108.10 | 0.04% |
| SOUTHEAST ENERGY AUTH COOP DIST ALA ENERGY SUPPLY REV AL 5.000 10/01/2030 | 0.33% | -- | -- |
| NEW YORK N Y NY 5.250 10/01/2051 | 0.32% | -- | -- |
| MAIN STR NAT GAS INC GA GAS SUPPLY REV GA 5.000 09/01/2053 | 0.32% | 106.58 | 0.06% |
| NEW MEXICO MUN ENERGY ACQUISITION AUTH GAS SUPPLY REV NM 5.000 06/01/2054 | 0.28% | 106.95 | 0.06% |
Fees & Availability
| Fees | |
| Actual 12B-1 Fee | -- |
| Actual Management Fee | 0.05% |
| Administration Fee | -- |
| Maximum Front Load | -- |
| Maximum Deferred Load | -- |
| Maximum Redemption Fee | -- |
| General Availability | |
| Available for Insurance Product | No |
| Available for RRSP | No |
| Purchase Details | |
| Open to New Investors |
|
| Minimum Initial Investment | 0.00 None |
| Minimum Subsequent Investment | 0.00 None |
Basic Info
| Investment Strategy | |
| The Fund seeks to provide a high current yield exempt from federal income tax. The Adviser normally invests the fund's assets in municipal securities whose interest is exempt from federal income tax. The municipal securities in which the fund invests are normally investment-grade (those of medium and high quality). |
| General | |
| Security Type | Mutual Fund |
| Equity Style | -- |
| Broad Asset Class | Municipal Bond |
| Broad Category | Fixed Income |
| Global Peer Group | Bond USD Municipal High Yield |
| Peer Group | High Yield Municipal Debt Funds |
| Global Macro | Bond High Yield |
| US Macro | National Municipal Debt Funds |
| YCharts Categorization | -- |
| YCharts Benchmark | -- |
| Prospectus Objective | High Yield Municipal Debt Funds |
| Fund Owner Firm Name | Fidelity Investments |
| Broad Asset Class Benchmark Index | |
| ^BBMBTR | 100.0% |
Fundamentals
| General | |
| Distribution Yield | -- |
| Dividend Yield TTM (2-27-26) | 0.00% |
| 30-Day SEC Yield (1-31-26) | 3.44% |
| 7-Day SEC Yield | -- |
| Number of Holdings | 2294 |
| Bond | |
| Yield to Maturity (12-31-25) | 3.75% |
| Effective Duration | -- |
| Average Coupon | 4.79% |
| Calculated Average Quality | 2.187 |
| Effective Maturity | 14.32 |
| Nominal Maturity | 17.14 |
| Number of Bond Holdings | 2284 |
As of December 31, 2025
Fund Details
| Key Dates | |
| Inception Date | 3/18/2025 |
| Attributes | |
| Inverse Fund | No |
| Leveraged Fund | -- |
| Currency Hedged Fund | -- |
| Socially Responsible Fund | No |
Top Portfolio Holders
| Name | % Weight |
|---|---|
| Portfolio A | 5.00% |
| Portfolio B | 3.50% |
| Portfolio C | 2.25% |
Excel Add-In Codes
| Name: =YCI("M:FENCX", "name") |
| Broad Asset Class: =YCI("M:FENCX", "broad_asset_class") |
| Broad Category: =YCI("M:FENCX", "broad_category_group") |
| Prospectus Objective: =YCI("M:FENCX", "prospectus_objective") |
| To find the codes for any of our securities and financial metrics, see our Complete Excel Reference. |