FAMYX Fees and Costs — Fidelity Municipal Income 2025 Fund, Class I
Data updated: 2025-09-11
The net expense ratio is 0.40%: a 0.30% management fee plus 0.10% other expenses. There are no sales loads or redemption fees. Portfolio turnover was 6%.
FAMYX Fees and Expenses
Annual operating expenses and sales charges of FAMYX. Prospectus, as of August 31, 2024.
| Annual operating expenses | |
|---|---|
| Management fee | 0.30% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.10% |
| Gross expense ratio | 0.40% |
| Fee waiver | — |
| Net expense ratio | 0.40% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
FAMYX Costs Over Time
On $10,000 invested in FAMYX, assuming 5% a year before costs, total costs come to $253 over 5 years, cutting the return by 0.42% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 0.40%) | $42 | $132 | $230 |
| Lost growth on money paid in costs | $0 | $7 | $23 |
| Total costs | $42 | $138 | $253 |
| Value after costs | $10,458 | $11,438 | $12,510 |
| Impact on return, per year | 0.42% | 0.42% | 0.42% |
FAMYX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending June 30, 2025.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $18.4M
- Portfolio turnover (prospectus): 6%
- Securities lending: none during the year
FAMYX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| JPMORGAN CHASE and CO | $6.7M | 37.16% |
| BARCLAYS PLC | $3.2M | 17.93% |
| US BANCORP DEL | $2.8M | 15.70% |
| WELLS FARGO and CO | $2.5M | 13.69% |
| THE TORONTO DOMINION BANK | $1.7M | 9.21% |
| STERN BROTHERS and COMPANY | $437K | 2.41% |
| GOLDMAN SACHS GROUP INC (THE) | $318K | 1.76% |
| ROYAL BANK OF CANADA | $140K | 0.77% |
| RAYMOND JAMES FINANCIAL INC. | $126K | 0.70% |
| MORGAN STANLEY | $121K | 0.67% |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.