Fidelity Michigan Municipal Income Fund (FMHTX)
11.72
-0.06
(-0.51%)
USD |
Mar 03 2026
Returns Chart
Key Stats
| Net Expense Ratio | Total Assets Under Management | Weighted Average Dividend Yield | Turnover Ratio (Generic) |
|---|---|---|---|
| 0.46% | 500.62M | -- | 17.00% |
| 1 Year Fund Level Flows | 1 Year Total Returns (Daily) | Annualized Total Returns Since Inception (Daily) | Max Drawdown (Since Inception) |
| 8.102M | 4.11% |
Basic Info
| Investment Strategy | |
| The Fund seeks a high level of current income exempt from federal income tax and Michigan personal income tax. Under normal market and economic conditions, the Fund invests at least 80% of assets in investment-grade municipal securities whose interest is exempt from federal and Michigan personal income taxes. |
| General | |
| Security Type | Mutual Fund |
| Equity Style | -- |
| Broad Asset Class | Municipal Bond |
| Broad Category | Fixed Income |
| Global Peer Group | Bond USD Municipal |
| Peer Group | Other States Municipal Debt Funds |
| Global Macro | Bond HC |
| US Macro | Single State Municipal Debt Funds |
| YCharts Categorization | -- |
| YCharts Benchmark | -- |
| Prospectus Objective | Other States 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:
44
-4.908M
Peer Group Low
12.31M
Peer Group High
1 Year
% Rank:
20
8.102M
-90.57M
Peer Group Low
71.99M
Peer Group High
3 Months
% Rank:
10
-34.06M
Peer Group Low
26.64M
Peer Group High
3 Years
% Rank:
63
-261.92M
Peer Group Low
104.26M
Peer Group High
6 Months
% Rank:
15
-56.84M
Peer Group Low
29.29M
Peer Group High
5 Years
% Rank:
79
-503.36M
Peer Group Low
141.26M
Peer Group High
YTD
% Rank:
12
-6.109M
Peer Group Low
25.02M
Peer Group High
10 Years
% Rank:
78
-583.71M
Peer Group Low
543.50M
Peer Group High
Date Unavailable
Risk
Performance Versus Peer Group
Annual Total Returns Versus Peers
As of March 04, 2026.
Asset Allocation
As of December 31, 2025.
| Type | % Net |
|---|---|
| Cash | 2.01% |
| Stock | 0.00% |
| Bond | 97.34% |
| Convertible | 0.00% |
| Preferred | 0.00% |
| Other | 0.65% |
Top 10 Holdings
| Name | % Weight | Price | % Change |
|---|---|---|---|
| MICHIGAN ST BLDG AUTH REV MI 1.980 10/15/2042 | 3.70% | 100.00 | 0.00% |
| MICHIGAN FIN AUTH REV MI 5.000 11/15/2048 | 2.41% | 101.84 | -0.20% |
| MICHIGAN ST HSG DEV AUTH SINGLE FAMILY MTG REV MI 1.750 06/01/2046 | 2.02% | -- | -- |
| MICHIGAN FIN AUTH REV MI 4.000 12/01/2049 | 1.49% | 90.48 | -0.85% |
|
Fidelity Municipal Cash Central Fund
|
1.47% | -- | -- |
| MICHIGAN ST BLDG AUTH REV MI 3.000 10/15/2045 | 1.39% | 79.97 | -0.83% |
| MICHIGAN ST STRATEGIC FD LTD OBLIG REV MI 3.875 06/01/2053 | 1.39% | 100.51 | 0.00% |
| MICHIGAN FIN AUTH REV MI 4.000 06/01/2049 | 1.26% | 87.11 | -0.86% |
| WAYNE CNTY MICH ARPT AUTH REV MI 5.000 12/01/2030 | 1.25% | -- | -- |
| MICHIGAN ST STRATEGIC FD LTD OBLIG REV MI 4.250 12/31/2038 | 1.19% | 100.74 | -0.21% |
Fees & Availability
| Fees | |
| Actual 12B-1 Fee | -- |
| Actual Management Fee | 0.44% |
| Administration Fee | -- |
| Maximum Front Load | -- |
| Maximum Deferred Load | -- |
| Maximum Redemption Fee | 0.00% |
| 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 a high level of current income exempt from federal income tax and Michigan personal income tax. Under normal market and economic conditions, the Fund invests at least 80% of assets in investment-grade municipal securities whose interest is exempt from federal and Michigan personal income taxes. |
| General | |
| Security Type | Mutual Fund |
| Equity Style | -- |
| Broad Asset Class | Municipal Bond |
| Broad Category | Fixed Income |
| Global Peer Group | Bond USD Municipal |
| Peer Group | Other States Municipal Debt Funds |
| Global Macro | Bond HC |
| US Macro | Single State Municipal Debt Funds |
| YCharts Categorization | -- |
| YCharts Benchmark | -- |
| Prospectus Objective | Other States Municipal Debt Funds |
| Fund Owner Firm Name | Fidelity Investments |
| Broad Asset Class Benchmark Index | |
| ^BBMBTR | 100.0% |
Fundamentals
| General | |
| Distribution Yield | -- |
| Dividend Yield TTM (3-2-26) | 2.85% |
| 30-Day SEC Yield (1-31-26) | 3.14% |
| 7-Day SEC Yield | -- |
| Number of Holdings | 301 |
| Bond | |
| Yield to Maturity (12-31-25) | 3.80% |
| Effective Duration | 6.74 |
| Average Coupon | 4.47% |
| Calculated Average Quality | 2.507 |
| Effective Maturity | 10.82 |
| Nominal Maturity | 15.39 |
| Number of Bond Holdings | 298 |
As of December 31, 2025
Fund Details
| Key Dates | |
| Inception Date | 11/12/1985 |
| 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:FMHTX", "name") |
| Broad Asset Class: =YCI("M:FMHTX", "broad_asset_class") |
| Broad Category: =YCI("M:FMHTX", "broad_category_group") |
| Prospectus Objective: =YCI("M:FMHTX", "prospectus_objective") |
| To find the codes for any of our securities and financial metrics, see our Complete Excel Reference. |