Fidelity Massachusetts Municipal Income  FDMMX
  Morningstar Report
Overall Morningstar
Rating™
What is this?
As of 2009-10-31
Out of
Muni Massachusetts Funds
Rating derived from a weighted average of the fund's 3, 5, 10-year rating which are based on risk-adjusted performance.
Morningstar®
Style Box™
What is this?
   Avg Duration
   7.50 Yrs
   Avg Credit Quality
   AA
As of 2009-09-30
Day Change
$ -0.01
  
NAV (2009-11-10)
$ 11.72
  
YTD Return % (2009-11-10)
11.33%
  
Total Assets ($ mil)
2,284
View Data Definitions
  Performance    
Growth of $10,000 Fund: Fidelity Massachusetts Municipal Income
(from 1999-01-01 to 2009-10-31) Category: Muni Massachusetts
Index: BarCap Municipal TR USD
Total Annualized Returns % 1yr, 3yr and 5yr Returns as of 2009-11-10
Inception date: 1983-11-10 10yr and Inception Returns as of 2009-10-31
YTD Returns as of 2009-11-10
YTD 1 Year 3 Year 5 Year 10 Year Since Inception
Fund 12.12 11.03 3.77 4.09 5.46 7.10
+/- Category -3.17 -2.57 1.15 0.88 0.67 ---
+/- BarCap Municipal TR USD -0.02 -0.64 -0.48 -0.27 --- ---
Standardized Annual Returns %   more on standardized returns
Quarter-End (as of 2009-09-30) 13.69 13.36 4.65 4.46 5.59 7.21
Month-End (as of 2009-10-31) 11.32 12.63 3.63 3.82 5.46 7.10
After Tax Returns % (as of 2009-09-30 )  
On Distribution --- 12.62 3.59 3.72 5.37 ---
On Distribution & Sale of Shares --- 9.70 3.68 3.84 5.32 ---
Morningstar Rating --- --- ---
# of compared funds covered (3 yrs : out of 75 funds), (5 yrs : out of 70 funds), (10 yrs : out of 59 funds). Ratings are based on risk-adjusted performance. The maximum initial sales fee is none, the maximum deferred sales fee is none, and the maximum redemption sales fee is 0.50%.
The performance quoted represents past performance and does not guarantee future results. The investment return and principal value of an investment will fluctuate thus an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted herein.
  Portfolio Profile    
Sector Breakdown %
General Obligations 20.35
Advance Refunded 0.78
State Appropriated Tobacco ---
Non-state Appropriated Tobacco ---
Education 27.12
Health 5.44
Housing ---
Industrial 0.74
Transportation 23.29
Utilities ---
Water/Sewer 15.36
Misc. Revenue 6.93
Bond Quality % of Bonds
AAA 13.1
AA 59.7
A 15.2
BBB 7.5
BB 0.7
B 0.0
Below B 0.0
Not Rated 3.8
 
Asset Allocation
% of Net Assets
Cash 0.9
Stocks 0.0
Bonds 99.1
Other 0.0
Foreign Stocks 0.0
(as a % of Assets)
Data through 2009-09-30 Data through 2009-09-30
 
Holding Status
Total Number of Stock Holdings Turnover % 14
Total Number of Bond Holdings 458 30 Day SEC Yield % 3.41
% of Assets in Top 10 Holdings 19.71 ending as of 2009-09-30
View Data Definitions
Top 10 Holdings Maturity
Date		 Amount
$000		 Value
$000		 % of Net
Assets
Massachusetts St Sch Bldg Auth 5% 2030-08-15 140,060 150,027 6.50
MASSACHUSETTS ST TPK AUTH MET SUB REV B 2029-01-01 45,615 45,836 1.99
Massachusetts St Tpk Auth 5% 2037-01-01 42,240 42,237 1.83
Massachusetts St Go Bds 5% 2037-08-01 35,375 37,901 1.64
Massachusetts St Health & Edl Rev 5.125% 2037-07-15 32,840 34,010 1.47
Massachusetts Bay Transn Auth 6.2% 2016-03-01 27,525 31,898 1.38
Massachusetts St Sch Bldg Auth 5% 2024-08-15 26,600 29,319 1.27
Massachusetts St Sch Bldg Auth 5% 2037-08-15 26,605 28,587 1.24
Massachusetts St Go Consol 5% 2018-03-01 25,000 27,900 1.21
Massachusetts St Wtr Res Auth 6.5% 2019-07-15 21,960 27,278 1.18
Data through 2009-09-30
  Other Information
Fund Inception: 1983-11-10
Portfolio Manager  (Start Date)
Christine Jones Thompson  (1998-07-13)
Thompson is lead manager of Advisor Municipal Income fund, which she has managed since July 1998. Thompson also manages other Fidelity funds. Since joining Fidelity Investments in 1985, she has worked as an analyst and manager. Previously, she worked as an equity research analyst intern at Lord Abbett & Company during the summer of 1984. From 1980 to 1983, she served as an analyst and client service consultant with Associates for International Research.
Sales Charge %
(taken from prospectus dated 2009-04-01)
Front: None
Deferred: None
Expense Ratio % 0.44
based on net assets
(taken from annual report dated 2009-01-31)
Correspondence Information
82 Devonshire St

Boston,  MA  02109
United States
Telephone:
800-544-8544
Data on this page does not include the fund's short positions (if any).
Show Data Definitions

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Past performance is no guarantee of future results.
Returns will vary and shares may be worth more or less than their original cost when sold.