What we offer
- Fidelity Municipal Income 2017 Fund (FMIFX)
- Fidelity Municipal Income 2019 Fund (FMCFX)
- Fidelity Municipal Income 2021 Fund (FOCFX)
- Fidelity Municipal Income 2023 Fund (FCHPX)
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Fidelity's Defined Maturity Funds (DMFs) seek to provide federally tax-exempt income within a specified time period. Each fund offers professional management and diversification, like Fidelity's other municipal bond funds, with declining price volatility as the fund approaches its target maturity.
Each fund invests primarily in investment-grade municipal bonds with similar maturity dates, which the fund generally holds to maturity. As a result, the interest rate sensitivity (and, thus, price volatility) of each fund is designed to fall gradually over time as maturity approaches.
For as long as you own them, the funds distribute federally tax-free monthly dividends that you can reinvest or withdraw. At maturity, the funds liquidate and distribute net assets to shareholders.