FUENX Performance — Fidelity Flex Municipal Income Fund
Data updated: 2026-08-24
FUENX returned +2.39% year to date and +7.23% over one year to Jun 2026. Annualised returns are +4.46% over 3 years and +1.53% 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 $114, against $112 for the category, and to $107 over one year, against $108. Volatility over the past three years was 5.27% a year. In the 12 months to Jun 2026 the fund took in a net $333.0M, and assets reached $1.30B.
FUENX Growth of $100
What $100 invested in Fidelity Flex 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 | FUENX | Category average |
|---|---|---|
| 1 year (Jul 2025 – Jun 2026) | $107 | $108 |
| 3 years (Jul 2023 – Jun 2026) | $114 | $112 |
| 5 years (Jul 2021 – Jun 2026) | $108 | $103 |
| Since data start (Jul 2019 – Jun 2026) | $117 | $113 |
FUENX Trailing Returns
Total returns to Jun 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +2.39% |
| 1 year | +7.23% |
| 3 years (annualised) | +4.46% |
| 5 years (annualised) | +1.53% |
FUENX Annual Returns
Calendar-year total returns of Fidelity Flex Municipal Income Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–Jun) | +2.39% |
| 2025 | +4.60% |
| 2024 | +2.31% |
| 2023 | +7.25% |
| 2022 | −8.62% |
| 2021 | +2.30% |
| 2020 | +3.77% |
| 2019 (Jul–Dec) | +2.37% |
FUENX 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 | +0.9% | +1.3% | −2.1% | +1.1% | +0.5% | +0.8% | — | — | — | — | — | — |
| 2025 | +0.4% | +0.9% | −1.6% | −0.5% | −0.1% | +0.8% | −0.1% | +0.9% | +2.2% | +1.1% | +0.4% | +0.2% |
| 2024 | −0.1% | +0.1% | +0.1% | −1.1% | −0.1% | +1.6% | +0.9% | +0.8% | +1.1% | −1.4% | +1.5% | −1.1% |
| 2023 | +3.3% | −2.4% | +2.2% | 0.0% | −0.9% | +0.9% | +0.3% | −1.0% | −2.6% | −1.3% | +6.2% | +2.6% |
| 2022 | −2.6% | −0.6% | −3.2% | −2.9% | +1.5% | −1.7% | +2.8% | −2.4% | −3.7% | −1.0% | +5.0% | +0.1% |
| 2021 | +0.8% | −1.5% | +0.6% | +1.0% | +0.5% | +0.3% | +0.8% | −0.3% | −0.8% | −0.1% | +0.8% | +0.2% |
| 2020 | +1.8% | +1.5% | −5.6% | −2.6% | +3.0% | +1.9% | +2.0% | −0.1% | 0.0% | −0.1% | +1.4% | +0.9% |
| 2019 | — | — | — | — | — | — | +0.8% | +1.6% | −0.7% | +0.1% | +0.2% | +0.4% |
FUENX Risk
Risk measures from monthly returns over Jul 2023 – Jun 2026.
- 3-year volatility (annualised): 5.27%
- 3-year Sharpe ratio: -0.01 (vs 4.5% risk-free rate)
- Best month: +6.17% (Nov 2023)
- Worst month: −2.61% (Sep 2023)
FUENX Fund Flows
Monthly money in and out of Fidelity Flex Municipal Income Fund, from SEC Form N-PORT.
- 12-month net flow: $333.0M
- 12-month gross sales (incl. reinvestments): $677.4M
- Sales ÷ redemptions: 1.97×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| Jun 2026 | $58.4M | $34.0M | $24.4M |
| May 2026 | $85.1M | $26.9M | $58.2M |
| Apr 2026 | $70.9M | $34.2M | $36.7M |
| Mar 2026 | $51.8M | $41.7M | $10.1M |
| Feb 2026 | $56.0M | $26.6M | $29.4M |
| Jan 2026 | $57.7M | $28.8M | $28.9M |
| Dec 2025 | $58.7M | $24.0M | $34.7M |
| Nov 2025 | $36.4M | $21.8M | $14.6M |
| Oct 2025 | $44.2M | $32.9M | $11.3M |
| Sep 2025 | $60.6M | $27.5M | $33.1M |
| Aug 2025 | $44.2M | $21.7M | $22.5M |
| Jul 2025 | $53.6M | $24.5M | $29.1M |
FUENX Assets Under Management
Net assets of Fidelity Flex Municipal Income Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-06-30 | $1.30B |
| 2026-03-31 | $1.17B |
| 2025-12-31 | $1.11B |
| 2025-09-30 | $1.04B |
| 2025-06-30 | $931.51M |
| 2025-03-31 | $898.81M |
| 2024-12-31 | $876.14M |
| 2024-09-30 | $832.05M |
| 2024-06-30 | $780.01M |
| 2024-03-31 | $746.43M |
| 2023-12-31 | $703.39M |
| 2023-09-30 | $655.97M |
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.