FAMHX — Fidelity Municipal Income 2025 Fund
Data updated: 2025-09-11
FAMHX — Fidelity Municipal Income 2025 Fund. Target Date / Glide Path Allocation · $20.57M AUM. Holdings, fees, performance and SEC filings.
FAMHX Fund Overview
FAMHX — Fidelity Municipal Income 2025 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: $20.57M
- 1-year return: -17.5%
- Ticker: FAMHX
- SEC CIK: 0000035315
- SEC series ID: S000057383
- Share class ID: C000183197
FAMHX Investment Objective and Strategy
Fidelity Municipal Income 2025 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, 2025.
FAMHX Holdings
Top 10 holdings of Fidelity Municipal Income 2025 Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Fidelity Revere Street Trust | 45.95% |
| Washington St | 2.36% |
| MAINE HEALTH and HIGHER EDL FACS AUTH REV | 2.26% |
| Port Portland Or Arpt Rev | 2.04% |
| Arizona Brd Regents Az St Univ Sys Rev | 1.97% |
| CONNECTICUT ST HEALTH and EDL FACS AUTH REV | 1.94% |
| New Jersey Health Care | 1.94% |
| St Louis Mo Arpt Rev | 1.80% |
| Flint Mi Hosp Bldg Auth Rev | 1.46% |
| Massachusetts St Port Auth Rev | 1.46% |
FAMHX Portfolio Allocation
Asset-class allocation of Fidelity Municipal Income 2025 Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Fixed Income | 51.6% |
| Cash & Equivalents | 46.0% |
FAMHX Performance
Total returns for FAMHX (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | -17.5% |
| 3 years (annualised) | -24.1% |
| 5 years (annualised) | -26.1% |
FAMHX Risk Information
Risk metrics for FAMHX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 4.6%
FAMHX Costs and Fees
FAMHX costs about $65 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.65%
- Gross expense ratio: 0.65%
- Portfolio turnover: 6%
- Brokerage commissions: 0.00 bps of average net assets (SEC N-CEN)
FAMHX Cashflows
Over the 12 months to 2025-06, Fidelity Municipal Income 2025 Fund had net outflows of $3.33M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2025-06 | −$300.07K |
| 2025-05 | −$415.73K |
| 2025-04 | −$401.46K |
| 2025-03 | −$266.82K |
| 2025-02 | −$145.06K |
| 2025-01 | −$90.39K |
FAMHX Debt Constituents
Largest debt holdings of Fidelity Municipal Income 2025 Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Debt holding | % of net assets |
|---|---|
| Washington St | 2.36% |
| MAINE HEALTH and HIGHER EDL FACS AUTH REV | 2.26% |
| Port Portland Or Arpt Rev | 2.04% |
| Arizona Brd Regents Az St Univ Sys Rev | 1.97% |
| New Jersey Health Care | 1.94% |
| CONNECTICUT ST HEALTH and EDL FACS AUTH REV | 1.94% |
| St Louis Mo Arpt Rev | 1.80% |
| Flint Mi Hosp Bldg Auth Rev | 1.46% |
| Massachusetts St Port Auth Rev | 1.46% |
| INDIANA ST HSG and CMNTY DEV SF | 1.46% |
FAMHX Prospectus and SEC Filings
Official Fidelity Municipal Income 2025 Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2024-08-26
- Prospectus (485BPOS) — filed 2023-08-24
- Prospectus supplement (497) — filed 2022-11-21
- Portfolio holdings (N-PORT) — filed 2025-08-22
- Portfolio holdings (N-PORT) — filed 2025-05-27
- Portfolio holdings (N-PORT) — filed 2025-02-25
- Annual census (N-CEN) — filed 2025-09-11
- Annual census (N-CEN) — filed 2024-09-12
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.