FROGX Performance — Fidelity Municipal Income Fund, Class I
Data updated: 2026-08-24
FROGX returned +2.09% year to date and +7.06% over one year to Jun 2026. Annualised returns are +3.98% over 3 years and +0.86% over 5 years. Against its Long-Term Municipal Bond category average the fund came out ahead over three years but behind over one: $100 invested three years ago grew to $112, against $112 for the category, and to $107 over one year, against $108. Volatility over the past three years was 5.84% a year. In the 12 months to Jun 2026 the fund took in a net $1.0B, and assets reached $5.55B.
FROGX Growth of $100
What $100 invested in Fidelity Municipal Income Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the Long-Term Municipal Bond category average over the same months.
| Period | FROGX | Category average |
|---|---|---|
| 1 year (Jul 2025 – Jun 2026) | $107 | $108 |
| 3 years (Jul 2023 – Jun 2026) | $112 | $112 |
| 5 years (Jul 2021 – Jun 2026) | $104 | $103 |
| Since data start (Jul 2019 – Jun 2026) | $114 | $113 |
FROGX Trailing Returns
Total returns to Jun 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +2.09% |
| 1 year | +7.06% |
| 3 years (annualised) | +3.98% |
| 5 years (annualised) | +0.86% |
FROGX Annual Returns
Calendar-year total returns of Fidelity Municipal Income Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–Jun) | +2.09% |
| 2025 | +4.22% |
| 2024 | +1.66% |
| 2023 | +7.14% |
| 2022 | −10.26% |
| 2021 | +2.76% |
| 2020 | +4.53% |
| 2019 (Jul–Dec) | +2.32% |
FROGX 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% | +1.4% | −2.5% | +1.2% | +0.4% | +0.8% | — | — | — | — | — | — |
| 2025 | +0.4% | +1.0% | −1.9% | −0.7% | −0.2% | +0.8% | −0.2% | +0.9% | +2.5% | +1.3% | +0.2% | +0.1% |
| 2024 | −0.2% | +0.1% | +0.1% | −1.2% | −0.2% | +1.7% | +0.8% | +0.7% | +1.1% | −1.5% | +1.6% | −1.4% |
| 2023 | +3.4% | −2.4% | +2.2% | +0.1% | −0.9% | +0.9% | +0.4% | −1.2% | −3.0% | −1.4% | +6.6% | +2.7% |
| 2022 | −2.8% | −0.7% | −3.3% | −3.1% | +1.0% | −1.9% | +2.9% | −2.5% | −4.0% | −1.3% | +5.4% | 0.0% |
| 2021 | +1.0% | −1.6% | +0.7% | +1.2% | +0.6% | +0.5% | +0.9% | −0.4% | −0.9% | −0.2% | +1.0% | +0.1% |
| 2020 | +2.0% | +1.7% | −5.2% | −2.9% | +3.1% | +1.9% | +2.0% | −0.2% | −0.1% | −0.2% | +1.6% | +1.0% |
| 2019 | — | — | — | — | — | — | +0.8% | +1.8% | −0.7% | 0.0% | +0.2% | +0.3% |
FROGX Risk
Risk measures from monthly returns over Jul 2023 – Jun 2026.
- 3-year volatility (annualised): 5.84%
- 3-year Sharpe ratio: -0.09 (vs 4.5% risk-free rate)
- Best month: +6.61% (Nov 2023)
- Worst month: −2.96% (Sep 2023)
FROGX Fund Flows
Monthly money in and out of Fidelity Municipal Income Fund, from SEC Form N-PORT.
- 12-month net flow: $1.0B
- 12-month gross sales (incl. reinvestments): $1.9B
- Sales ÷ redemptions: 2.19×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| Jun 2026 | $76.3M | $74.5M | $1.8M |
| May 2026 | $830.2M | $58.3M | $771.9M |
| Apr 2026 | $83.9M | $64.5M | $19.4M |
| Mar 2026 | $82.1M | $68.6M | $13.5M |
| Feb 2026 | $79.4M | $51.4M | $28.0M |
| Jan 2026 | $98.9M | $77.0M | $21.9M |
| Dec 2025 | $97.5M | $67.9M | $29.7M |
| Nov 2025 | $74.3M | $93.6M | −$19.4M |
| Oct 2025 | $83.4M | $88.7M | −$5.3M |
| Sep 2025 | $105.6M | $60.1M | $45.5M |
| Aug 2025 | $106.2M | $79.2M | $27.1M |
| Jul 2025 | $171.4M | $77.8M | $93.6M |
FROGX Assets Under Management
Net assets of Fidelity Municipal Income Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-06-30 | $5.55B |
| 2026-03-31 | $4.67B |
| 2025-12-31 | $4.65B |
| 2025-09-30 | $4.61B |
| 2025-06-30 | $4.34B |
| 2025-03-31 | $4.48B |
| 2024-12-31 | $4.64B |
| 2024-09-30 | $4.68B |
| 2024-06-30 | $4.61B |
| 2024-03-31 | $4.65B |
| 2023-12-31 | $4.67B |
| 2023-09-30 | $4.32B |
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.