FENCX

About FENCX

Fidelity SAI Enhanced Municipal Income Fund is an actively managed municipal bond mutual fund focused on delivering a high level of current income that is exempt from federal income tax. The fund normally invests at least 80% of assets in municipal securities, emphasizing investment‑grade bonds and employing a research‑driven process that considers valuation, credit quality, momentum, and other systematic factors to enhance risk‑adjusted income potential. Positioned within the muni national intermediate category, it targets a diversified mix across states and sectors such as general obligation, essential services, transportation, healthcare, and education revenue bonds, aiming to balance income stability with interest‑rate sensitivity. The fund distributes income, reflecting its objective and the cash‑flow profile of municipal issuers. Launched in 2025, it is part of a broader suite of municipal strategies from Fidelity, which includes sustainable and indexed municipal offerings, underscoring its role as a core tax‑exempt income option for taxable accounts seeking federally tax‑free distributions. Key metrics like net asset value and expenses are tracked by third‑party research providers, offering transparency on costs and portfolio composition for due diligence.