SMDMX Fees and Costs — Fidelity Maryland Municipal Income Fund
Data updated: 2026-07-24
The net expense ratio is 0.55%. There are no sales loads or redemption fees. Portfolio turnover was 22%.
SMDMX Fees and Expenses
Annual operating expenses and sales charges of SMDMX. Prospectus, as of October 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.55% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.55% |
| Fee waiver | — |
| Net expense ratio | 0.55% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
SMDMX Costs Over Time
On $10,000 invested in SMDMX, assuming 5% a year before costs, total costs come to $347 over 5 years, cutting the return by 0.58% 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 0.55%) | $58 | $181 | $315 |
| Lost growth on money paid in costs | $0 | $9 | $32 |
| Total costs | $58 | $190 | $347 |
| Value after costs | $10,442 | $11,386 | $12,416 |
| Impact on return, per year | 0.58% | 0.58% | 0.58% |
SMDMX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending August 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $61.8M
- Portfolio turnover (prospectus): 22%
- Securities lending: none during the year
SMDMX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| WELLS FARGO and CO | $10.1M | 22.03% |
| MORGAN STANLEY | $7.7M | 16.68% |
| TRUIST FINANCIAL CORP | $7.1M | 15.52% |
| UBS GROUP AG | $3.9M | 8.57% |
| JPMORGAN CHASE and CO | $3.8M | 8.28% |
| ROYAL BANK OF CANADA | $3.2M | 6.99% |
| RAYMOND JAMES FINANCIAL INC. | $3.0M | 6.48% |
| GOLDMAN SACHS GROUP INC (THE) | $2.9M | 6.30% |
| THE TORONTO DOMINION BANK | $2.1M | 4.63% |
| BANK OF AMERICA CORPORATION | $2.1M | 4.51% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.