Fidelity Conservative Income Municipal Bond Fund
Data updated: 2026-08-24
C000131628 — Fidelity Conservative Income Municipal Bond Fund. Long Municipal - National Bond · $1.71B AUM. Holdings, fees, performance and SEC filings.
C000131628 Fund Overview
Fidelity Conservative Income Municipal Bond Fund is a US mutual fund managed by Fidelity Municipal Trust, categorised as Long Municipal - National Bond. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Fidelity Municipal Trust
- Category: Long Municipal - National Bond
- Assets under management: $1.71B
- 1-year return: 0.2%
- SEC CIK: 0000035373
- SEC series ID: S000042537
- Share class ID: C000131628
C000131628 Investment Objective and Strategy
Fidelity Conservative Income Municipal Bond Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Fidelity Municipal Trust.
Investment objective
The fund seeks to provide a high level of income, exempt from federal income tax, consistent with preservation of capital.
Principal investment strategy
Normally investing at least 80% of its assets in U.S. dollar-denominated municipal money market securities and high quality investment-grade municipal debt securities whose interest is exempt from federal income tax. Investing up to 10% of assets in lower quality investment-grade securities. Managing the fund to have similar overall interest rate risk to the 50% Bloomberg Barclays Municipal Bond 1 Year (1-2 Y) Index / 50% iMoneyNet? All Tax-Free National Retail Money Market Funds Average. Normally maintaining a dollar-weighted average maturity of one year or less. Normally investing in securities with a maximum maturity of four years. 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.
C000131628 Holdings
Top 10 holdings of Fidelity Conservative Income Municipal Bond Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Port Port Arthur Tx Nav Dist E | 3.60% |
| Kentucky Higher Ed Student Ln Corp. Student Ln Rev | 2.47% |
| St James Parish La Rev | 2.34% |
| Mizuho Floater / Residual Tr Var Sts | 1.48% |
| Tender Opt Bd Tr Rcpts / Ctfs Var Sts | 1.48% |
| Fidelity Revere Street Trust | 1.46% |
| Florida Ins Assistance Interlocal Agy Fla Ins Assmt Rev | 1.45% |
| Port Port Arthur Tx Nav Dist E | 1.32% |
| Meade Cnty Ky Indl Bldg Rev | 1.29% |
| Dallas Fort Worth Tx Intl Arpt | 1.28% |
C000131628 Portfolio Allocation
Asset-class allocation of Fidelity Conservative Income Municipal Bond Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Fixed Income | 98.7% |
| Cash & Equivalents | 1.5% |
C000131628 Performance
Total returns for C000131628 (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | 0.2% |
| 3 years (annualised) | 0.4% |
C000131628 Risk Information
Risk metrics for C000131628, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 0.9%
C000131628 Costs and Fees
C000131628 costs about $35 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.35%
- Gross expense ratio: 0.40%
- Portfolio turnover: 73%
- Brokerage commissions: 0.00 bps of average net assets (SEC N-CEN)
C000131628 Cashflows
Over the 12 months to 2026-06, Fidelity Conservative Income Municipal Bond Fund had net inflows of $47.95M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-06 | −$9.61M |
| 2026-05 | $52.09M |
| 2026-04 | −$36.04M |
| 2026-03 | $4.67M |
| 2026-02 | −$144.39M |
| 2026-01 | −$652.56K |
C000131628 Debt Constituents
Largest debt holdings of Fidelity Conservative Income Municipal Bond Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Debt holding | % of net assets |
|---|---|
| Port Port Arthur Tx Nav Dist E | 3.60% |
| Kentucky Higher Ed Student Ln Corp. Student Ln Rev | 2.47% |
| St James Parish La Rev | 2.34% |
| Mizuho Floater / Residual Tr Var Sts | 1.48% |
| Tender Opt Bd Tr Rcpts / Ctfs Var Sts | 1.48% |
| Florida Ins Assistance Interlocal Agy Fla Ins Assmt Rev | 1.45% |
| Port Port Arthur Tx Nav Dist E | 1.32% |
| Meade Cnty Ky Indl Bldg Rev | 1.29% |
| Dallas Fort Worth Tx Intl Arpt | 1.28% |
| Tender Opt Bd Tr Rcpts / Ctfs Var Sts | 1.15% |
C000131628 Prospectus and SEC Filings
Official Fidelity Conservative Income Municipal Bond Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2026-02-24
- Prospectus (485BPOS) — filed 2025-02-25
- Prospectus (485BPOS) — filed 2024-02-26
- Portfolio holdings (N-PORT) — filed 2026-08-24
- Portfolio holdings (N-PORT) — filed 2026-05-26
- Portfolio holdings (N-PORT) — filed 2026-02-24
- Annual census (N-CEN) — filed 2026-03-12
- Annual census (N-CEN) — filed 2025-03-14
Related Funds
Other Long Municipal - National Bond 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.