Fidelity Michigan Municipal Income Fund (FMHTX)

Fund Assets	473.96M
Expense Ratio	0.454%
Min. Investment	$0.00
Turnover	29.00%
Dividend (ttm)	0.35
Dividend Yield	3.03%
Dividend Growth	6.42%
Payout Frequency	Monthly
Ex-Dividend Date	Oct 30, 2026

Previous Close	11.44
YTD Return	0.69%
1-Year Return	1.28%
5-Year Return	3.18%
52-Week Low	10.85
52-Week High	11.81
Beta (5Y)	0.27
Holdings	322
Inception Date	Nov 12, 1985

About FMHTX

Fidelity Michigan Municipal Income Fund is a mutual fund focused on generating a high level of current income while maintaining tax efficiency for investors. Its primary objective is to provide income that is exempt from both federal and Michigan personal income taxes by investing at least 80% of assets in investment-grade municipal bonds issued in Michigan. The fund is categorized as a "Muni Single State Long" fund, reflecting its emphasis on long-term municipal securities from a single state. Notably, more than a quarter of assets are allocated to projects with similar purposes, often supporting essential local infrastructure and public facilities. The portfolio typically holds around 295 securities and is actively managed, balancing sector and maturity allocation within its non-diversified mandate. With a competitive net expense ratio of 0.46% and a monthly distribution schedule, the fund is widely recognized for its cost efficiency and its role in helping Michigan-based investors seek regular income while minimizing state and federal tax liabilities. Its track record, experienced management, and focus on municipal finance make it a significant offering within the municipal bond fund space for Michigan residents.

• Fund Family: Fidelity
• Category: Unclassified
• Performance Rating: Average
• Risk Rating: Low
• Stock Exchange: Nasdaq
• Ticker Symbol: FMHTX
• Index: Bloomberg Municipal Bond TR

Performance

FMHTX had a total return of 1.28% in the past year, including dividends. Since the fund's inception, the average annual return has been 4.31%.

Dividend History

Ex-Dividend	Amount	Pay Date
Oct 30, 2026	$0.03122	Nov 2, 2026
Sep 30, 2026	$0.02947	Oct 1, 2026
Aug 31, 2026	$0.03028	Sep 1, 2026
Jul 31, 2026	$0.03011	Aug 3, 2026
Jun 30, 2026	$0.02891	Jul 1, 2026
May 31, 2026	$0.02913	Jun 1, 2026

Data Sources: Tiingo, Financial Modeling Prep, and more

Historical data is provided by Tiingo. Delayed stock pricing data is provided by Financial Modeling Prep. Several fund data points are also provided by Finnhub.

Last checked:

Nov 10, 2026

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