FIWAX Performance — Fidelity Limited Term Municipal Income Fund, Class Z
Data updated: 2026-08-24
FIWAX returned +1.18% year to date and +3.63% over one year to Jun 2026. Annualised returns are +3.66% over 3 years and +1.49% over 5 years. Against its Short-Term Municipal Bond category average the fund came out ahead over three years but behind over one: $100 invested three years ago grew to $111, against $111 for the category, and to $104 over one year, against $104. Volatility over the past three years was 2.38% a year. In the 12 months to Jun 2026 the fund took in a net $268.4M, and assets reached $3.00B.
FIWAX Growth of $100
What $100 invested in Fidelity Limited Term Municipal Income 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 | FIWAX | Category average |
|---|---|---|
| 1 year (Jul 2025 – Jun 2026) | $104 | $104 |
| 3 years (Jul 2023 – Jun 2026) | $111 | $111 |
| 5 years (Jul 2021 – Jun 2026) | $108 | $108 |
| Since data start (Jul 2019 – Jun 2026) | $113 | $113 |
FIWAX Trailing Returns
Total returns to Jun 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +1.18% |
| 1 year | +3.63% |
| 3 years (annualised) | +3.66% |
| 5 years (annualised) | +1.49% |
FIWAX Annual Returns
Calendar-year total returns of Fidelity Limited Term Municipal Income Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–Jun) | +1.18% |
| 2025 | +4.57% |
| 2024 | +2.37% |
| 2023 | +4.08% |
| 2022 | −4.40% |
| 2021 | +0.41% |
| 2020 | +3.42% |
| 2019 (Jul–Dec) | +1.36% |
FIWAX 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 | +0.8% | +0.7% | −1.2% | +0.3% | +0.3% | +0.3% | — | — | — | — | — | — |
| 2025 | +0.6% | +0.7% | −0.3% | −0.2% | +0.6% | +0.8% | +0.7% | +0.7% | +0.4% | +0.1% | +0.2% | +0.3% |
| 2024 | −0.1% | +0.1% | 0.0% | −0.4% | −0.1% | +0.9% | +0.9% | +1.1% | +0.5% | −0.7% | +0.7% | −0.4% |
| 2023 | +1.5% | −1.5% | +1.5% | −0.4% | −0.5% | +0.6% | +0.2% | −0.1% | −1.1% | 0.0% | +2.7% | +1.2% |
| 2022 | −1.8% | −0.4% | −1.8% | −1.3% | +1.1% | −0.4% | +1.4% | −1.4% | −1.9% | −0.2% | +2.0% | +0.2% |
| 2021 | +0.5% | −0.7% | +0.2% | +0.4% | +0.1% | 0.0% | +0.4% | −0.1% | −0.4% | −0.2% | +0.2% | 0.0% |
| 2020 | +0.9% | +0.4% | −2.4% | −0.2% | +2.0% | +0.8% | +0.9% | +0.1% | +0.1% | −0.1% | +0.6% | +0.4% |
| 2019 | — | — | — | — | — | — | +0.6% | +0.5% | −0.5% | +0.2% | +0.2% | +0.2% |
FIWAX Risk
Risk measures from monthly returns over Jul 2023 – Jun 2026.
- 3-year volatility (annualised): 2.38%
- 3-year Sharpe ratio: -0.35 (vs 4.5% risk-free rate)
- Best month: +2.66% (Nov 2023)
- Worst month: −1.18% (Mar 2026)
FIWAX Fund Flows
Monthly money in and out of Fidelity Limited Term Municipal Income Fund, from SEC Form N-PORT.
- 12-month net flow: $268.4M
- 12-month gross sales (incl. reinvestments): $810.7M
- Sales ÷ redemptions: 1.50×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| Jun 2026 | $72.6M | $48.9M | $23.8M |
| May 2026 | $78.1M | $49.4M | $28.7M |
| Apr 2026 | $81.4M | $60.7M | $20.7M |
| Mar 2026 | $62.1M | $61.4M | $660K |
| Feb 2026 | $72.6M | $40.6M | $32.0M |
| Jan 2026 | $98.4M | $44.9M | $53.5M |
| Dec 2025 | $70.2M | $44.9M | $25.3M |
| Nov 2025 | $53.0M | $29.5M | $23.5M |
| Oct 2025 | $53.3M | $40.5M | $12.8M |
| Sep 2025 | $54.5M | $46.5M | $8.0M |
| Aug 2025 | $48.4M | $35.2M | $13.2M |
| Jul 2025 | $66.0M | $39.6M | $26.4M |
FIWAX Assets Under Management
Net assets of Fidelity Limited Term Municipal Income Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-06-30 | $3.00B |
| 2026-03-31 | $2.91B |
| 2025-12-31 | $2.84B |
| 2025-09-30 | $2.78B |
| 2025-06-30 | $2.70B |
| 2025-03-31 | $2.64B |
| 2024-12-31 | $2.61B |
| 2024-09-30 | $2.62B |
| 2024-06-30 | $2.59B |
| 2024-03-31 | $2.62B |
| 2023-12-31 | $2.65B |
| 2023-09-30 | $2.67B |
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.