Fidelity Municipal Income 2023 Fund
Data updated: 2023-09-12
C000125572 — Fidelity Municipal Income 2023 Fund. Target Date / Glide Path Allocation · $27.98M AUM. Holdings, fees, performance and SEC filings.
C000125572 Fund Overview
Fidelity Municipal Income 2023 Fund is a US mutual fund managed by Fidelity Salem Street Trust, categorised as Target Date / Glide Path Allocation. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Fidelity Salem Street Trust
- Category: Target Date / Glide Path Allocation
- Assets under management: $27.98M
- 1-year return: 1.1%
- SEC CIK: 0000035315
- SEC series ID: S000040416
- Share class ID: C000125572
C000125572 Investment Objective and Strategy
Fidelity Municipal Income 2023 Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Fidelity Salem Street Trust.
Investment objective
The fund seeks as high a level of current income, exempt from federal income tax, as is consistent with the preservation of capital.
Principal investment strategy
Normally investing at least 80% of assets in investment-grade municipal securities whose interest is exempt from federal income tax (but may be subject to the federal alternative minimum tax). Managing the fund to have similar overall interest rate risk compared to a customized municipal bond index representing Fidelity Management & Research Company (FMR)'s view of the performance of the funds competitive universe. Allocating assets across different market sectors and maturities. Potentially investing more than 25% of total assets in municipal securities that finance similar types of projects. Analyzing the credit quality of the issuer, security-specific features, current and potential future valuation, and trading opportunities to select investments. Liquidating shortly after the fund's target end-date of June 30, 2023.
C000125572 Performance
Total returns for C000125572 (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | 1.1% |
| 3 years (annualised) | 0.6% |
C000125572 Risk Information
Risk metrics for C000125572, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 1.1%
C000125572 Costs and Fees
C000125572 costs about $40 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.40%
- Gross expense ratio: 0.40%
- Portfolio turnover: 9%
- Brokerage commissions: 0.00 bps of average net assets (SEC N-CEN)
C000125572 Cashflows
Over the 12 months to 2023-06, Fidelity Municipal Income 2023 Fund had net outflows of $30.36M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2023-06 | −$707.24K |
| 2023-05 | −$645.59K |
| 2023-04 | −$203.36K |
| 2023-03 | −$1.13M |
| 2023-02 | −$702.45K |
| 2023-01 | −$14.41M |
C000125572 Debt Constituents
No individual debt constituents are reported in Fidelity Municipal Income 2023 Fund's latest SEC N-PORT filing.
C000125572 Prospectus and SEC Filings
Official Fidelity Municipal Income 2023 Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2021-08-25
- Prospectus supplement (497) — filed 2022-11-21
- Prospectus supplement (497) — filed 2022-11-18
- Portfolio holdings (N-PORT) — filed 2023-08-24
- Portfolio holdings (N-PORT) — filed 2023-05-25
- Portfolio holdings (N-PORT) — filed 2023-02-23
- Annual census (N-CEN) — filed 2023-09-12
- Annual census (N-CEN) — filed 2022-09-12
Related Funds
Other Target Date / Glide Path Allocation funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.