FSABX

About FSABX

Fidelity SAI Municipal Bond Index Fund is an open‑end mutual fund that tracks the U.S. investment‑grade municipal bond market to deliver a high level of current income that is generally exempt from federal income tax. The portfolio normally invests at least 80% of assets in municipal securities and targets the national intermediate segment, emphasizing broad diversification across states and revenue sources such as general obligation, water and sewer, transportation, and local government issuers. The fund maintains an intermediate interest‑rate profile, aligning with category durations of roughly 4–6 years, seeking balanced sensitivity to rate moves and credit quality considerations. It is designed with a low‑cost structure, featuring a notably low expense ratio and passive index methodology to keep tracking and operating costs contained. Managed by Fidelity, the strategy aims to mirror municipal bond index characteristics while offering tax‑advantaged income, making it a core building block for investors seeking federally tax‑exempt bond exposure within diversified fixed income allocations. According to third‑party category frameworks, it sits in Muni National Intermediate, reflecting its role as a broad, intermediate‑term muni market exposure.