FCSTX Performance — Fidelity California Limited Term Tax-Free Bond Fund
Data updated: 2026-07-24
FCSTX returned +0.50% year to date and +3.90% over one year to May 2026. Annualised returns are +3.35% over 3 years and +1.15% over 5 years. The fund trailed its Short-Term Municipal Bond category average: $100 invested three years ago grew to $110, against $111 for the category, and to $104 over one year, against $104. Volatility over the past three years was 2.80% a year. In the 12 months to May 2026 the fund took in a net $84.8M, and assets reached $645.00M.
FCSTX Growth of $100
What $100 invested in Fidelity California Limited Term Tax-Free Bond Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the Short-Term Municipal Bond category average over the same months.
| Period | FCSTX | Category average |
|---|---|---|
| 1 year (Jun 2025 – May 2026) | $104 | $104 |
| 3 years (Jun 2023 – May 2026) | $110 | $111 |
| 5 years (Jun 2021 – May 2026) | $106 | $108 |
| Since data start (Sep 2019 – May 2026) | $109 | $112 |
FCSTX Trailing Returns
Total returns to May 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +0.50% |
| 1 year | +3.90% |
| 3 years (annualised) | +3.35% |
| 5 years (annualised) | +1.15% |
FCSTX Annual Returns
Calendar-year total returns of Fidelity California Limited Term Tax-Free Bond Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–May) | +0.50% |
| 2025 | +4.59% |
| 2024 | +1.72% |
| 2023 | +3.51% |
| 2022 | −4.40% |
| 2021 | +0.25% |
| 2020 | +2.92% |
| 2019 (Sep–Dec) | +0.10% |
FCSTX Monthly Returns
Monthly total returns as reported on SEC Form N-PORT.
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | +0.9% | +0.5% | −1.6% | +0.5% | +0.2% | — | — | — | — | — | — | — |
| 2025 | +0.6% | +0.6% | −0.4% | −0.3% | +0.7% | +0.9% | +0.7% | +0.8% | +0.5% | +0.1% | +0.2% | +0.3% |
| 2024 | −0.2% | +0.1% | −0.1% | −0.6% | −0.3% | +0.9% | +0.9% | +1.1% | +0.8% | −0.9% | +0.8% | −0.6% |
| 2023 | +1.5% | −1.6% | +1.6% | −0.5% | −0.7% | +0.5% | +0.1% | −0.2% | −1.2% | −0.1% | +3.1% | +1.1% |
| 2022 | −1.8% | −0.5% | −1.8% | −1.4% | +1.0% | −0.3% | +1.5% | −1.4% | −2.1% | 0.0% | +2.1% | +0.2% |
| 2021 | +0.2% | −0.6% | +0.2% | +0.3% | +0.1% | 0.0% | +0.5% | −0.1% | −0.4% | −0.2% | +0.3% | 0.0% |
| 2020 | +1.0% | +0.4% | −2.1% | −0.4% | +2.2% | +0.3% | +0.9% | −0.1% | +0.1% | −0.1% | +0.5% | +0.2% |
| 2019 | — | — | — | — | — | — | — | — | −0.5% | +0.3% | 0.0% | +0.2% |
FCSTX Risk
Risk measures from monthly returns over Jun 2023 – May 2026.
- 3-year volatility (annualised): 2.80%
- 3-year Sharpe ratio: -0.41 (vs 4.5% risk-free rate)
- Best month: +3.07% (Nov 2023)
- Worst month: −1.59% (Mar 2026)
FCSTX Fund Flows
Monthly money in and out of Fidelity California Limited Term Tax-Free Bond Fund, from SEC Form N-PORT.
- 12-month net flow: $84.8M
- 12-month gross sales (incl. reinvestments): $239.4M
- Sales ÷ redemptions: 1.55×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| May 2026 | $19.1M | $18.8M | $302K |
| Apr 2026 | $19.6M | $14.1M | $5.4M |
| Mar 2026 | $14.2M | $11.8M | $2.4M |
| Feb 2026 | $21.3M | $8.0M | $13.3M |
| Jan 2026 | $20.4M | $25.4M | −$5.0M |
| Dec 2025 | $20.6M | $18.7M | $1.9M |
| Nov 2025 | $17.7M | $7.9M | $9.8M |
| Oct 2025 | $20.5M | $10.2M | $10.3M |
| Sep 2025 | $18.2M | $9.6M | $8.6M |
| Aug 2025 | $30.4M | $8.8M | $21.5M |
| Jul 2025 | $23.0M | $11.6M | $11.5M |
| Jun 2025 | $14.5M | $9.7M | $4.8M |
FCSTX Assets Under Management
Net assets of Fidelity California Limited Term Tax-Free Bond Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-05-31 | $645.00M |
| 2026-02-28 | $646.67M |
| 2025-11-30 | $629.23M |
| 2025-08-31 | $599.48M |
| 2025-05-31 | $551.78M |
| 2025-02-28 | $553.34M |
| 2024-11-30 | $549.11M |
| 2024-08-31 | $519.34M |
| 2024-05-31 | $493.73M |
| 2024-02-29 | $509.21M |
| 2023-11-30 | $497.63M |
| 2023-08-31 | $542.91M |
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.