FMAXX Fees and Costs — Fidelity Massachusetts Municipal Money Market Fund, Institutional Class
Data updated: 2026-04-13
The net expense ratio is 0.20%: a 0.20% management fee plus 0.05% other expenses, less a 0.05% fee waiver. There are no sales loads or redemption fees.
FMAXX Fees and Expenses
Annual operating expenses and sales charges of FMAXX. Prospectus, as of April 1, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.20% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.05% |
| Gross expense ratio | 0.25% |
| Fee waiver | −0.05% |
| Net expense ratio | 0.20% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
FMAXX Costs Over Time
On $10,000 invested in FMAXX, assuming 5% a year before costs, total costs come to $127 over 5 years, cutting the return by 0.21% 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 0.20%) | $21 | $66 | $116 |
| Lost growth on money paid in costs | $0 | $3 | $12 |
| Total costs | $21 | $69 | $127 |
| Value after costs | $10,479 | $11,507 | $12,636 |
| Impact on return, per year | 0.21% | 0.21% | 0.21% |
FMAXX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending January 31, 2026.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $4.5B
- Portfolio turnover (prospectus): —
- Securities lending: none during the year
FMAXX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| MORGAN STANLEY | $954.5M | 21.67% |
| JPMORGAN CHASE and CO | $943.2M | 21.41% |
| BARCLAYS PLC | $742.1M | 16.85% |
| BANK OF AMERICA CORPORATION | $545.9M | 12.39% |
| ROYAL BANK OF CANADA | $372.5M | 8.46% |
| TRUIST FINANCIAL CORP | $293.4M | 6.66% |
| THE TORONTO DOMINION BANK | $285.1M | 6.47% |
| WELLS FARGO and CO | $184.2M | 4.18% |
| JEFFERIES FINANCIAL GROUP INC | $46.3M | 1.05% |
| GOLDMAN SACHS GROUP INC (THE) | $37.5M | 0.85% |
Fidelity Massachusetts Municipal Money Market Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| FMAXX | Institutional Class | 0.20% | — |
| FMSXX | Premium Class | 0.30% | — |
| FAUXX | Fidelity Massachusetts Municipal Money Market Fund | 0.42% | — |
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.