FCTFX Performance — Fidelity California Municipal Income Fund
Data updated: 2026-07-24
FCTFX returned +1.09% year to date and +7.17% over one year to May 2026. Annualised returns are +4.14% over 3 years and +1.08% over 5 years. Against its Long-Term Municipal Bond category average the fund came out ahead over three years but behind over one: $100 invested three years ago grew to $113, against $112 for the category, and to $107 over one year, against $107. Volatility over the past three years was 5.60% a year. In the 12 months to May 2026 the fund took in a net $47.1M, and assets reached $1.87B.
FCTFX Growth of $100
What $100 invested in Fidelity California Municipal Income Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the Long-Term Municipal Bond category average over the same months.
| Period | FCTFX | Category average |
|---|---|---|
| 1 year (Jun 2025 – May 2026) | $107 | $107 |
| 3 years (Jun 2023 – May 2026) | $113 | $112 |
| 5 years (Jun 2021 – May 2026) | $106 | $103 |
| Since data start (Sep 2019 – May 2026) | $111 | $109 |
FCTFX Trailing Returns
Total returns to May 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +1.09% |
| 1 year | +7.17% |
| 3 years (annualised) | +4.14% |
| 5 years (annualised) | +1.08% |
FCTFX Annual Returns
Calendar-year total returns of Fidelity California Municipal Income Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–May) | +1.09% |
| 2025 | +4.73% |
| 2024 | +1.87% |
| 2023 | +6.52% |
| 2022 | −8.89% |
| 2021 | +1.76% |
| 2020 | +4.51% |
| 2019 (Sep–Dec) | −0.44% |
FCTFX 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% | +1.4% | −2.7% | +1.2% | +0.4% | — | — | — | — | — | — | — |
| 2025 | +0.2% | +1.1% | −1.7% | −0.7% | −0.2% | +0.8% | −0.2% | +0.9% | +2.7% | +1.4% | +0.2% | 0.0% |
| 2024 | −0.3% | +0.1% | +0.1% | −1.1% | −0.3% | +1.7% | +0.9% | +0.9% | +1.3% | −1.6% | +1.8% | −1.5% |
| 2023 | +3.0% | −2.3% | +2.1% | −0.4% | −0.7% | +0.8% | +0.4% | −1.1% | −2.5% | −1.5% | +6.0% | +2.8% |
| 2022 | −2.8% | −0.7% | −3.1% | −2.9% | +1.2% | −1.6% | +2.8% | −2.2% | −3.5% | −0.7% | +4.4% | +0.1% |
| 2021 | +0.6% | −1.7% | +0.6% | +1.0% | +0.4% | +0.2% | +0.9% | −0.3% | −0.8% | −0.1% | +0.9% | 0.0% |
| 2020 | +1.9% | +1.3% | −4.0% | −1.8% | +3.2% | +1.0% | +1.6% | −0.4% | +0.1% | −0.2% | +1.5% | +0.5% |
| 2019 | — | — | — | — | — | — | — | — | −0.8% | +0.1% | +0.1% | +0.3% |
FCTFX Risk
Risk measures from monthly returns over Jun 2023 – May 2026.
- 3-year volatility (annualised): 5.60%
- 3-year Sharpe ratio: -0.06 (vs 4.5% risk-free rate)
- Best month: +5.98% (Nov 2023)
- Worst month: −2.69% (Mar 2026)
FCTFX Fund Flows
Monthly money in and out of Fidelity California Municipal Income Fund, from SEC Form N-PORT.
- 12-month net flow: $47.1M
- 12-month gross sales (incl. reinvestments): $409.1M
- Sales ÷ redemptions: 1.13×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| May 2026 | $39.7M | $34.3M | $5.4M |
| Apr 2026 | $37.7M | $38.9M | −$1.2M |
| Mar 2026 | $32.0M | $30.3M | $1.7M |
| Feb 2026 | $57.5M | $31.9M | $25.6M |
| Jan 2026 | $38.6M | $28.7M | $10.0M |
| Dec 2025 | $29.6M | $26.2M | $3.3M |
| Nov 2025 | $24.2M | $21.4M | $2.8M |
| Oct 2025 | $26.4M | $24.0M | $2.5M |
| Sep 2025 | $28.6M | $23.0M | $5.6M |
| Aug 2025 | $44.5M | $45.3M | −$889K |
| Jul 2025 | $20.6M | $29.5M | −$8.9M |
| Jun 2025 | $29.6M | $28.5M | $1.1M |
FCTFX Assets Under Management
Net assets of Fidelity California Municipal Income Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-05-31 | $1.87B |
| 2026-02-28 | $1.90B |
| 2025-11-30 | $1.83B |
| 2025-08-31 | $1.76B |
| 2025-05-31 | $1.76B |
| 2025-02-28 | $1.63B |
| 2024-11-30 | $1.62B |
| 2024-08-31 | $1.59B |
| 2024-05-31 | $1.58B |
| 2024-02-29 | $1.64B |
| 2023-11-30 | $1.65B |
| 2023-08-31 | $1.86B |
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.