Description

The fund primarily directs at least 80% of its capital towards investment-grade municipal securities, the income from which is free from both federal and Minnesota state personal income taxes. Its overall interest rate risk is managed to align with a proprietary index, specifically designed by Fidelity Management & Research Company to represent the anticipated performance of the fund's peer group over time. To manage risk and enhance potential returns, assets are strategically distributed across diverse market sectors and maturity schedules. It is important to note that the fund maintains a non-diversified status.