FMHTX Performance — Fidelity Michigan Municipal Income Fund
Data updated: 2026-08-24
FMHTX returned +1.99% year to date and +6.82% over one year to Jun 2026. Annualised returns are +3.99% over 3 years and +0.94% over 5 years. The fund beat its Intermediate Municipal Bond category average: $100 invested three years ago grew to $112, against $111 for the category, and to $107 over one year, against $106. Volatility over the past three years was 5.42% a year. In the 12 months to Jun 2026 the fund took in a net $34.4M, and assets reached $510.37M.
FMHTX Growth of $100
What $100 invested in Fidelity Michigan Municipal Income Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the Intermediate Municipal Bond category average over the same months.
| Period | FMHTX | Category average |
|---|---|---|
| 1 year (Jul 2025 – Jun 2026) | $107 | $106 |
| 3 years (Jul 2023 – Jun 2026) | $112 | $111 |
| 5 years (Jul 2021 – Jun 2026) | $105 | $105 |
| Since data start (Jul 2019 – Jun 2026) | $114 | $112 |
FMHTX Trailing Returns
Total returns to Jun 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +1.99% |
| 1 year | +6.82% |
| 3 years (annualised) | +3.99% |
| 5 years (annualised) | +0.94% |
FMHTX Annual Returns
Calendar-year total returns of Fidelity Michigan Municipal Income Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–Jun) | +1.99% |
| 2025 | +4.36% |
| 2024 | +1.95% |
| 2023 | +5.99% |
| 2022 | −9.18% |
| 2021 | +1.54% |
| 2020 | +5.11% |
| 2019 (Jul–Dec) | +2.04% |
FMHTX 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 | +0.5% | +1.2% | −2.0% | +1.0% | +0.5% | +0.8% | — | — | — | — | — | — |
| 2025 | +0.2% | +1.1% | −1.8% | −0.4% | −0.1% | +0.6% | −0.3% | +0.8% | +2.4% | +1.2% | +0.3% | +0.3% |
| 2024 | −0.2% | 0.0% | 0.0% | −0.9% | −0.2% | +1.6% | +0.9% | +0.8% | +1.0% | −1.4% | +1.7% | −1.3% |
| 2023 | +2.7% | −2.3% | +1.8% | −0.1% | −0.7% | +0.8% | +0.2% | −1.1% | −2.7% | −1.3% | +6.3% | +2.5% |
| 2022 | −2.5% | −0.5% | −2.9% | −2.8% | +1.0% | −1.7% | +2.3% | −2.1% | −3.5% | −0.9% | +4.4% | 0.0% |
| 2021 | +0.7% | −1.6% | +0.7% | +0.8% | +0.5% | +0.2% | +0.6% | −0.3% | −0.8% | −0.1% | +0.7% | +0.2% |
| 2020 | +1.7% | +1.4% | −3.0% | −1.3% | +3.0% | +0.7% | +1.5% | −0.3% | +0.1% | −0.2% | +1.3% | +0.4% |
| 2019 | — | — | — | — | — | — | +0.7% | +1.7% | −0.8% | +0.1% | +0.1% | +0.2% |
FMHTX Risk
Risk measures from monthly returns over Jul 2023 – Jun 2026.
- 3-year volatility (annualised): 5.42%
- 3-year Sharpe ratio: -0.09 (vs 4.5% risk-free rate)
- Best month: +6.31% (Nov 2023)
- Worst month: −2.74% (Sep 2023)
FMHTX Fund Flows
Monthly money in and out of Fidelity Michigan Municipal Income Fund, from SEC Form N-PORT.
- 12-month net flow: $34.4M
- 12-month gross sales (incl. reinvestments): $110.3M
- Sales ÷ redemptions: 1.45×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| Jun 2026 | $8.9M | $7.9M | $1.0M |
| May 2026 | $12.1M | $5.9M | $6.2M |
| Apr 2026 | $10.5M | $7.2M | $3.3M |
| Mar 2026 | $10.3M | $7.2M | $3.1M |
| Feb 2026 | $6.3M | $4.9M | $1.4M |
| Jan 2026 | $12.5M | $4.2M | $8.3M |
| Dec 2025 | $10.8M | $8.1M | $2.7M |
| Nov 2025 | $5.1M | $4.6M | $448K |
| Oct 2025 | $13.1M | $3.8M | $9.3M |
| Sep 2025 | $5.9M | $8.3M | −$2.4M |
| Aug 2025 | $7.1M | $7.6M | −$526K |
| Jul 2025 | $7.7M | $6.2M | $1.5M |
FMHTX Assets Under Management
Net assets of Fidelity Michigan Municipal Income Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-06-30 | $510.37M |
| 2026-03-31 | $492.02M |
| 2025-12-31 | $484.36M |
| 2025-09-30 | $467.10M |
| 2025-06-30 | $458.87M |
| 2025-03-31 | $459.65M |
| 2024-12-31 | $462.25M |
| 2024-09-30 | $475.81M |
| 2024-06-30 | $466.18M |
| 2024-03-31 | $468.41M |
| 2023-12-31 | $470.29M |
| 2023-09-30 | $454.49M |
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.