FMNGX Fees and Costs — Fidelity Conservative Income Municipal Bond Fund, Class I
Data updated: 2026-08-24
The net expense ratio is 0.25%: a 0.20% management fee plus 0.18% other expenses, less a 0.13% fee waiver. There are no sales loads or redemption fees. Portfolio turnover was 73%.
FMNGX Fees and Expenses
Annual operating expenses and sales charges of FMNGX. Prospectus, as of February 28, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.20% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.18% |
| Gross expense ratio | 0.38% |
| Fee waiver | −0.13% |
| Net expense ratio | 0.25% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
FMNGX Costs Over Time
On $10,000 invested in FMNGX, assuming 5% a year before costs, total costs come to $159 over 5 years, cutting the return by 0.26% 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 0.25%) | $26 | $83 | $144 |
| Lost growth on money paid in costs | $0 | $4 | $14 |
| Total costs | $26 | $87 | $159 |
| Value after costs | $10,474 | $11,490 | $12,604 |
| Impact on return, per year | 0.26% | 0.26% | 0.26% |
FMNGX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $2.3B
- Portfolio turnover (prospectus): 73%
- Securities lending: none during the year
FMNGX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| JPMORGAN CHASE and CO | $583.0M | 27.62% |
| BANK OF AMERICA CORPORATION | $452.3M | 21.42% |
| BARCLAYS PLC | $285.5M | 13.53% |
| WELLS FARGO and CO | $268.9M | 12.74% |
| MORGAN STANLEY | $158.4M | 7.51% |
| JEFFERIES FINANCIAL GROUP INC | $102.3M | 4.84% |
| TRUIST FINANCIAL CORP | $86.3M | 4.09% |
| GOLDMAN SACHS GROUP INC (THE) | $81.8M | 3.88% |
| ROYAL BANK OF CANADA | $60.0M | 2.84% |
| COMPUTERSHARE LTD | $32.5M | 1.54% |
Fidelity Conservative Income Municipal Bond Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| FMNHX | Class Z | 0.20% | none |
| FMNDX | Fidelity Conservative Income Municipal Bond Fund | 0.25% | — |
| FMNGX | Class I | 0.25% | none |
| FMNFX | Class A | 0.45% | 1.50% |
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.