• Prospectus & Reports
  • Close

    Important legal information about the e-mail you will be sending. By using this service, you agree to input your real e-mail address and only send it to people you know. It is a violation of law in some jurisdictions to falsely identify yourself in an e-mail. All information you provide will be used by Fidelity solely for the purpose of sending the e-mail on your behalf.The subject line of the e-mail you send will be "Fidelity.com: "
    Close

    Your e-mail has been sent.
    Close

    Clicking a link will open a new window.
  • Default text sizeA
  • Larger text sizeA
  • Largest text sizeA

Dupree Mutual Fund Mississippi Tax-Free Income Fund

  • Symbol: DUMSX
  • Transaction Fee/Load Transaction Fee/Load 1  See Fidelity Fund Picks for no transaction fee alternatives
Close
Close

Average Annual Total Returns

2, 3, 4 More Information
AS OF 3/31/2014; *FUND INCEPTION 12/31/1999
1 Yr 3 Yr 5 Yr 10 Yr Life of Fund*
Dupree Mutual Fund Mississippi Tax-Free Income Fund 0.44% 5.72% 5.19% 4.05% 5.48%
Muni Single State Interm -0.60% 4.12% 4.22% 3.30% --
Rank in Morningstar Category 10% 4% 11% 5% --
# of Funds in Morningstar Category 226 212 205 188 --

Yield

More Information
3/31/2014
30-Day Yield 5 2.52%

Hypothetical Growth of $10,000

3, 6 More Information
AS OF 03/31/2014; MORNINGSTAR CATEGORY: Muni Single State Interm
Dupree Mutual Fund Mississippi Tax-Free Income Fund
Muni Single State Interm
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
This Fund 4.84% 2.87% 3.87% 2.99% -1.96% 10.55% 1.59% 10.74% 7.25% -3.53% 3.82%
Category 2.88% 2.08% 3.77% 2.05% -2.81% 11.29% 1.65% 8.90% 4.75% -2.82% 2.39%
+/- Category 1.96% 0.79% 0.10% 0.94% 0.85% -0.74% -0.06% 1.84% 2.50% -0.71% 1.43%

Compare Chart| Fund Facts Search

The performance data featured represents past performance, which is no guarantee of future results. Investment return and principal value of an investment will fluctuate; therefore, you may have a gain or loss when you sell your shares. Current performance may be higher or lower than the performance data quoted.

Quarter-End Average Annual Total Returns

3, 4 More Information
AS OF 3/31/2014; *FUND INCEPTION 12/31/1999

EXPENSE RATIO (GROSS):Glossary definition opens in new window.
0.89% AS OF 11/1/2013
1 Yr 3 Yr 5 Yr 10 Yr Life of Fund*
Before TaxesGlossary definition opens in new window.
Dupree Mutual Fund Mississippi Tax-Free Income Fund 0.44% 5.72% 5.19% 4.05% 5.48%
After Taxes on DistributionsGlossary definition opens in new window.
Dupree Mutual Fund Mississippi Tax-Free Income Fund 0.42% 5.70% 5.18% 4.03% 5.47%
After taxes on distributions and sale of fund sharesGlossary definition opens in new window.
Dupree Mutual Fund Mississippi Tax-Free Income Fund 1.66% 5.25% 4.89% 4.00% 5.29%

Read more about after-tax returns.

Cumulative Total Returns

4 More Information
AS OF 3/31/2014; *YTD (DAILY) AS OF 4/23/2014
YTD (Daily)* YTD (Monthly) 1 Month 3 Months 6 Months
Dupree Mutual Fund Mississippi Tax-Free Income Fund 5.00% 3.82% 0.35% 3.82% 3.62%
Muni Single State Interm -- 2.39% -0.09% 2.39% 2.48%

Fund Risk and Return

More Information
AS OF 3/31/2014; MORNINGSTAR CATEGORY: Muni Single State Interm

Risk

The municipal market can be affected by adverse tax, legislative or political changes and the financial condition of the issuers of municipal securities. Municipal funds carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) They also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible. Although state-specific municipal funds seek to provide interest dividends exempt from both federal and state income taxes and some of these funds may seek to generate income that is also exempt from federal alternative minimum tax, outcomes cannot be guaranteed, and the funds may generate some income subject to these taxes. Residency in the state is usually required for the state income tax exemption. Generally, municipal securities are not appropriate for tax-advantaged accounts such as IRAs and 401(k)s. Additional risk information for this product may be found in the prospectus or other product materials, if available.

Volatility Measures

More Information
Sharpe Ratio 1.26
AS OF 3/31/2014

The Sharpe ratio is a measure of historical adjusted performance calculated by dividing the fund's excess returns (fund's average monthly returns minus the average monthly return of the Salomon Smith Barney 3-Month T-Bill Index) by the standard deviation of those returns. The higher the ratio, the better the fund's return per unit of risk.

Standard Deviation 4.44
AS OF 3/31/2014

Statistical measure of how much a return varies over an extended period of time. The more variable the returns, the larger the standard deviation. Investors may examine historical standard deviation in conjunction with historical returns to decide whether an investment's volatility would have been acceptable given the returns it would have produced. A higher standard deviation indicates a wider dispersion of past returns and thus greater historical volatility. Standard deviation does not indicate how an investment actually performed, but it does indicate the volatility of its returns over time. Standard deviation is annualized. The returns used for this calculation are not load-adjusted.

Volatility measures are based on the variability of historical returns of the portfolio. In the case of annuity funds, this is before the effect of annuity charges. Relative Volatility, Beta, and R2 compare a portfolio's total return to those of a relevant market, represented by the benchmark index. Standard Deviation is calculated independent of an index.

Historical Fund Performance

4 More Information
Current year's data as of: 3/31/2014
Year Total Returns Capital Gains Dividends Net Assets ($M)
2014 3.82% -- -- $9.41
2013 -3.53% -- -- $8.90
2012 7.25% -- -- $8.68
2011 10.74% -- -- --
2010 1.59% -- -- --
2009 10.55% -- -- --
2008 -1.96% -- -- --
2007 2.99% -- -- --
2006 3.87% -- -- --
2005 2.87% -- -- --

The "Mutual Funds" area at the top of each page allows access to mutual fund holdings with individual and joint Fidelity non-retirement accounts. Individual stock positions, ETFs and 529 funds are not available through this view. For the full list of your holdings visit Portfolio Summary.

Mutual Funds are priced as of the previous business day's market close when the market is open. Mutual fund positions are priced as of the official market close (typically 4p.m.) and prices are generally available between 5 p.m. and 6p.m.

The performance data featured represents past performance, which is no guarantee of future results. Investment return and principal value of an investment will fluctuate; therefore, you may have a gain or loss when you sell your shares. Current performance may be higher or lower than the performance data quoted.

Watch a brief video to learn about using the new mutual fund library to evaluate funds

In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

2012 Morningstar, Inc. All rights reserved. The Morningstar information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or redistributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Fidelity does not review the Morningstar data and, for fund performance, you should check the fund's current prospectus or other product materials for the most up-to-date information concerning applicable loads, fees and expenses.

1. Transaction Fee:

A transaction fee is similar to a brokerage fee or commission which you pay when you buy or sell a stock. For some funds available through Fidelity you are required to pay a transaction fee. However, you will not pay a sales load on Transaction Fee (TF) funds. You will only be charged a transaction fee when you buy a FundsNetwork TF fund, not when you sell one. All other fees and expenses described in a fund's prospectus still apply. You can choose to buy or sell shares directly from the fund itself or its principal underwriter or distributor without paying a transaction fee to Fidelity.

Online Transaction Fees: $49.95 for most funds. Certain funds will have a transaction fee of $75. To identify any applicable transaction fees associated with the purchase of a given fund, please refer to the "Fees and Distributions" tab.

Fidelity Automated Service Telephone (FAST): 25% off representative-assisted rates, Maximum: $187.50, Minimum:$75
Representative-Assisted: 0.75% of principal, Maximum: $250, Minimum: $100
Automatic Investment: $5 per transaction, after the initial investment.

Sales load:

A sales charge added to the price of the fund. Funds have different sales charge structures, including front-end loads, back-end loads (deferred), and no loads. Sales loads can either be charged when a fund is purchased, commonly known as a front-end load, or when a fund is sold, known as a deferred load. Not all funds charge a load. Refer to the Loads, Expense and Minimums section of the fund's prospectus for details on these amounts. Although no load funds do not have a front-end or deferred load, they may incur other fees, such as a 12b-1 fee.

2. Percent Rank in Category is the fund's total-return percentile rank relative to all funds that have the same Morningstar Category. The highest (or most favorable) percentile rank is 1 and the lowest (or least favorable) percentile rank is 100. The top-performing fund in a category will always receive a rank of 1. % Rank in Category is based on total returns which include reinvested dividends and capital gains, if any, and exclude sales charges.

3. The Morningstar Category Average is the average return for the peer group based on the returns of each individual fund within the group, for the period shown. This average assumes reinvestment of dividends.

4. Total returns are historical and include change in share value and reinvestment of dividends and capital gains, if any. Cumulative total returns are reported as of the period indicated. Life of fund figures are reported as of the commencement date to the period indicated and are cumulative if the fund is less than one year old. Total returns do not reflect the fund's [%] sales charge. If sales charges were included, total returns would have been lower.

5. A standard yield calculation developed by the Securities and Exchange Commission for bond funds. The yield is calculated by dividing the net investment income per share earned during the 30-day period by the maximum offering price per share on the last day of the period. The yield figure reflects the dividends and interest earned during the 30-day period, after the deduction of the fund's expenses. It is sometimes referred to as "SEC 30-Day Yield" or "standardized yield".

6. This chart illustrates the performance of a hypothetical $10,000 investment made in this investment product (and a benchmark or category average, if shown) from the beginning date shown or on the inception date of the product (whichever is later). The inception date used for products with underlying funds, or multiple shares classes, or are offered as a separate account, strategy or sub account, may be the inception date of the underlying fund, the earliest share class of the product, or the date composite performance for the product was first made available. The product's returns may not reflect all its expenses. Any fees not reflected would lower the returns. Benchmark returns include reinvestment of capital gains and dividends, if any, but do not reflect any fees or expenses. It is not possible to invest in an index. Past performance is no guarantee of future results. This chart is not intended to imply any future performance of the investment product.

Generally, data on Fidelity mutual funds is provided by FMR, LLC, Morningstar ratings and data on non-Fidelity mutual funds is provided by Morningstar, Inc. and data on non-mutual fund products is provided by the product's investment manager, trustee or issuer or the plan sponsor whose plan is offering the product to participants. Although Fidelity believes the data gathered from these third-party sources is reliable, it does not review such information and cannot warrant it to be accurate, complete or timely. Fidelity is not responsible for any damages or losses arising from any use of this third-party information.

Before investing, consider the investment objectives, risks, charges and expenses of the fund or annuity and its investment options. Contact Fidelity for a free prospectus and, if available, summary prospectus containing this information. Read it carefully.