FUEMX Performance — Fidelity Flex Conservative Income Municipal Bond Fund
Data updated: 2026-08-24
FUEMX returned +1.44% year to date and +3.05% over one year to Jun 2026. Annualised returns are +3.56% over 3 years and +2.54% over 5 years. The fund beat its Ultrashort Municipal Bond category average: $100 invested three years ago grew to $111, against $109 for the category, and to $103 over one year, against $103. Volatility over the past three years was 0.53% a year. In the 12 months to Jun 2026 the fund took in a net $58.8M, and assets reached $280.17M.
FUEMX Growth of $100
What $100 invested in Fidelity Flex Conservative Income Municipal Bond Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the Ultrashort Municipal Bond category average over the same months.
| Period | FUEMX | Category average |
|---|---|---|
| 1 year (Jul 2025 – Jun 2026) | $103 | $103 |
| 3 years (Jul 2023 – Jun 2026) | $111 | $109 |
| 5 years (Jul 2021 – Jun 2026) | $113 | $109 |
| Since data start (Jul 2019 – Jun 2026) | $117 | $113 |
FUEMX Trailing Returns
Total returns to Jun 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +1.44% |
| 1 year | +3.05% |
| 3 years (annualised) | +3.56% |
| 5 years (annualised) | +2.54% |
FUEMX Annual Returns
Calendar-year total returns of Fidelity Flex Conservative Income Municipal Bond Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–Jun) | +1.44% |
| 2025 | +3.41% |
| 2024 | +3.54% |
| 2023 | +3.84% |
| 2022 | +0.48% |
| 2021 | +0.44% |
| 2020 | +1.50% |
| 2019 (Jul–Dec) | +1.03% |
FUEMX 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 | +0.4% | +0.3% | −0.1% | +0.3% | +0.2% | +0.2% | — | — | — | — | — | — |
| 2025 | +0.4% | +0.3% | +0.2% | +0.2% | +0.4% | +0.4% | +0.4% | +0.3% | +0.3% | +0.2% | +0.3% | +0.3% |
| 2024 | +0.2% | +0.3% | +0.2% | +0.2% | +0.2% | +0.5% | +0.6% | +0.4% | +0.4% | +0.1% | +0.4% | +0.1% |
| 2023 | +0.5% | −0.1% | +0.5% | 0.0% | +0.2% | +0.4% | +0.3% | +0.3% | +0.1% | +0.3% | +0.8% | +0.5% |
| 2022 | −0.3% | −0.1% | −0.3% | −0.1% | +0.4% | 0.0% | +0.3% | −0.2% | −0.2% | +0.2% | +0.6% | +0.2% |
| 2021 | +0.2% | −0.1% | +0.1% | +0.1% | +0.1% | 0.0% | 0.0% | 0.0% | −0.1% | −0.1% | 0.0% | 0.0% |
| 2020 | +0.3% | +0.2% | −0.6% | −0.2% | +0.6% | +0.4% | +0.2% | +0.2% | +0.1% | 0.0% | +0.2% | +0.1% |
| 2019 | — | — | — | — | — | — | +0.3% | +0.3% | −0.1% | +0.1% | +0.2% | +0.2% |
FUEMX Risk
Risk measures from monthly returns over Jul 2023 – Jun 2026.
- 3-year volatility (annualised): 0.53%
- 3-year Sharpe ratio: -1.77 (vs 4.5% risk-free rate)
- Best month: +0.80% (Nov 2023)
- Worst month: −0.06% (Mar 2026)
FUEMX Fund Flows
Monthly money in and out of Fidelity Flex Conservative Income Municipal Bond Fund, from SEC Form N-PORT.
- 12-month net flow: $58.8M
- 12-month gross sales (incl. reinvestments): $180.4M
- Sales ÷ redemptions: 1.48×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| Jun 2026 | $15.6M | $11.5M | $4.1M |
| May 2026 | $17.5M | $9.3M | $8.2M |
| Apr 2026 | $18.1M | $11.7M | $6.4M |
| Mar 2026 | $18.4M | $11.6M | $6.7M |
| Feb 2026 | $15.4M | $8.6M | $6.8M |
| Jan 2026 | $15.3M | $9.5M | $5.8M |
| Dec 2025 | $12.9M | $12.8M | $85K |
| Nov 2025 | $10.5M | $8.0M | $2.5M |
| Oct 2025 | $11.3M | $12.9M | −$1.7M |
| Sep 2025 | $19.7M | $8.9M | $10.8M |
| Aug 2025 | $12.2M | $7.9M | $4.4M |
| Jul 2025 | $13.5M | $8.8M | $4.7M |
FUEMX Assets Under Management
Net assets of Fidelity Flex Conservative Income Municipal Bond Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-06-30 | $280.17M |
| 2026-03-31 | $261.38M |
| 2025-12-31 | $242.17M |
| 2025-09-30 | $241.42M |
| 2025-06-30 | $221.29M |
| 2025-03-31 | $215.19M |
| 2024-12-31 | $202.16M |
| 2024-09-30 | $192.34M |
| 2024-06-30 | $179.84M |
| 2024-03-31 | $173.80M |
| 2023-12-31 | $162.21M |
| 2023-09-30 | $161.07M |
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.