FSMJX Fees and Costs — Fidelity SAI Conservative Income Municipal Bond Fund
Data updated: 2026-09-23
The net expense ratio is 0.20%: a 0.20% management fee plus 0.01% other expenses, less a 0.01% fee waiver. There are no sales loads or redemption fees. Portfolio turnover was 64%.
FSMJX Fees and Expenses
Annual operating expenses and sales charges of FSMJX. Prospectus, as of April 1, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.20% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.01% |
| Gross expense ratio | 0.21% |
| Fee waiver | −0.01% |
| 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 |
FSMJX Costs Over Time
On $10,000 invested in FSMJX, 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% |
FSMJX 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): $1.7B
- Portfolio turnover (prospectus): 64%
- Securities lending: none during the year
FSMJX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| JPMORGAN CHASE and CO | $422.0M | 26.83% |
| BANK OF AMERICA CORPORATION | $396.2M | 25.19% |
| BARCLAYS PLC | $209.3M | 13.31% |
| WELLS FARGO and CO | $129.7M | 8.24% |
| JEFFERIES FINANCIAL GROUP INC | $105.2M | 6.69% |
| ROYAL BANK OF CANADA | $90.7M | 5.77% |
| TRUIST FINANCIAL CORP | $87.5M | 5.56% |
| MORGAN STANLEY | $87.3M | 5.55% |
| GOLDMAN SACHS GROUP INC (THE) | $22.6M | 1.43% |
| SAR HOLDINGS INC | $22.4M | 1.42% |
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.