FENCX — Fidelity SAI Enhanced Municipal Income Fund
Data updated: 2026-09-11
FENCX — Fidelity SAI Enhanced Municipal Income Fund. Long Municipal - National Bond · $1.54B AUM. Holdings, fees, performance and SEC filings.
FENCX Fund Overview
FENCX — Fidelity SAI Enhanced Municipal Income Fund is a US mutual fund managed by Fidelity Salem Street 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 Salem Street Trust
- Category: Long Municipal - National Bond
- Assets under management: $1.54B
- 1-year return: 7.0%
- Ticker: FENCX
- SEC CIK: 0000035315
- SEC series ID: S000090604
- Share class ID: C000257876
FENCX Holdings
Top 10 holdings of Fidelity SAI Enhanced Municipal Income Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Fidelity Revere Street Trust | 5.10% |
| Vanguard Mun Bd Fd, Inc. | 3.11% |
| Ishares Ultra Short-Term Bond ETF | 1.74% |
| TEXAS MUNICIPAL GAS ACQUISITION and SUPPLY CORP V | 0.34% |
| Ohio St | 0.30% |
| Kentucky, Inc. Ky Pub Energy Auth Gas Supply Rev | 0.28% |
| Tennessee Engy Acq Crp Gas Rev | 0.28% |
| Black Belt Energy Gas Dist Alagas Proj Rev | 0.27% |
| Energy Southeast Ala Coop Distenergy Supply Rev | 0.27% |
| California St | 0.25% |
FENCX Portfolio Allocation
Asset-class allocation of Fidelity SAI Enhanced Municipal Income Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Fixed Income | 89.5% |
| Cash & Equivalents | 5.1% |
| Equity | 4.9% |
FENCX Performance
Total returns for FENCX (as of 2026-09-01), from SEC filings.
| Period | Total return |
|---|---|
| YTD | 2.2% |
| 1 year | 7.0% |
FENCX Risk Information
Risk metrics for FENCX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 3.7%
FENCX Costs and Fees
FENCX costs about $15 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.15%
- Gross expense ratio: 0.25%
- Portfolio turnover: 23%
- Brokerage commissions: 0.27 bps of average net assets (SEC N-CEN)
FENCX Cashflows
Over the 12 months to 2026-06, Fidelity SAI Enhanced Municipal Income Fund had net inflows of $1.35B, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-06 | $50.69M |
| 2026-05 | $126.85M |
| 2026-04 | $160.56M |
| 2026-03 | −$377.61K |
| 2026-02 | $72.05M |
| 2026-01 | $149.05M |
FENCX Debt Constituents
Largest debt holdings of Fidelity SAI Enhanced Municipal Income Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Debt holding | % of net assets |
|---|---|
| TEXAS MUNICIPAL GAS ACQUISITION and SUPPLY CORP V | 0.34% |
| Ohio St | 0.30% |
| Kentucky, Inc. Ky Pub Energy Auth Gas Supply Rev | 0.28% |
| Tennessee Engy Acq Crp Gas Rev | 0.28% |
| Black Belt Energy Gas Dist Alagas Proj Rev | 0.27% |
| Energy Southeast Ala Coop Distenergy Supply Rev | 0.27% |
| California St | 0.25% |
| Main Str Nat Gas, Inc. Ga Gas Supply Rev | 0.25% |
| Iowa Fin Auth Rev | 0.23% |
| Huron Valley Mi Sch Dist | 0.22% |
FENCX Prospectus and SEC Filings
Official Fidelity SAI Enhanced Municipal Income Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2026-08-25
- Prospectus (485BPOS) — filed 2025-08-26
- Prospectus (485BPOS) — filed 2025-03-06
- 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 2026-09-11
- Annual census (N-CEN) — filed 2025-09-11
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.