FTFMX

About FTFMX

Fidelity New York Municipal Income Fund is a tax-exempt municipal bond mutual fund that primarily invests in investment-grade securities issued by New York state and local governments, authorities, and related entities. Its primary objective is to provide investors with a high level of current income that is exempt from federal, New York State, and New York City personal income taxes—making it especially relevant for New York residents seeking tax-efficient income solutions. The fund maintains a portfolio with significant exposure to long-term New York municipal debt, spanning various market sectors such as public transportation, infrastructure, and education. With a professionally managed strategy, the fund typically allocates at least 80% of its assets to these high-quality municipal bonds, managing credit quality and interest rate risk. Its consistent, risk-conscious approach and relatively low expense ratio position it as a significant player within the New York municipal bond fund category, offering an important source of tax-advantaged income for individuals and institutions with ties to New York state and city.