Morningstar

Fidelity Advisor California Municipal Income Fund - Class A FCMAX Fund Analysis

Morningstar Medalist Rating
| Medalist Rating as of | See Fidelity Investment Hub

Morningstar’s Analysis FCMAX

Will FCMAX outperform in the future?

Get our overall rating based on a fundamental assessment of the pillars below.

  • Process Pillar

    The Process Pillar is our assessment of how sensible, clearly defined, and repeatable FCMAX’s performance objective and investment process is for both security selection and portfolio construction.

  • People Pillar

    The People Pillar is our evaluation of the FCMAX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.

  • Parent Pillar

    The Parent Pillar is our rating of FCMAX’s parent organization’s priorities and whether they’re in line with investors’ interests.

A top pick for California muni investors.

Associate Director Tom Murphy

Tom Murphy

Associate Director

Summary

Fidelity California Municipal Income’s seasoned team applies a consistent and risk-aware process that has historically offered investors a smoother ride than many muni California long Morningstar Category peers.

by Tom Murphy
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