• 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

American Century Investments Intermediate Term Tax-Free Bond Fund Institutional Class

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

Morningstar® Snapshot*

AS OF 03/31/2014; MORNINGSTAR CATEGORY: Muni National Interm
Returns 3 out of 5, Average Returns
LOWAVGHIGH
Expenses 1 out of 5, Low Fees
LOWAVGHIGH
Risk of this Category Category Risk Rating:3, where 1 is Lower and 10 is Higher
LOWERHIGHER

*All data provided by Morningstar. Please click on each indicator above to learn more about comparison groups and methodology.

Performance

2 More Information
AS OF 3/31/2014 ; *YTD AS OF 4/17/2014
YTD (Daily)* 1 Yr 3 Yr 5 Yr 10 Yr
YTD (Daily)* +2.98% 1 Yr -0.14% 3 Yr +4.81% 5 Yr +4.96% 10 Yr +4.01%

Hypothetical Growth of $10,000

3, 4 More Information
AS OF 03/31/2014; MORNINGSTAR CATEGORY: Muni National Interm
Shows growth of hypothetical $10,000 investment in American Century Investments Intermediate Term Tax-Free Bond Fund Institutional Class compared to ,Muni National Interm over the selected time period
American Century Investments Intermediate Term Tax-Free Bond Fund Institutional Class
Muni National Interm

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.

Fund Manager(s)

More Information
Joseph Gotelli since 10/1/2008 Alan Kruss since 3/28/2008 Steven Permut since 3/10/2006

Fund Overview

Objective

The investment seeks safety of principal and high current income that is exempt from federal income tax.

Strategy

The fund primarily invests in investment-grade debt securities and, under normal market conditions, will invest at least 80% of its assets in debt securities with interest payments exempt from federal income tax. The fund's weighted average maturity will be not less than three years nor more than ten years. However, there is no maturity limit on individual securities. The portfolio managers also may buy investment-grade debt securities with interest payments exempt from regular federal income tax, but not exempt from the federal alternative minimum tax.

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 national municipal funds seek to provide interest dividends exempt from federal income taxes and some of these funds may seek to generate income that is also exempt from the federal alternative minimum tax, outcomes cannot be guaranteed, and the funds may generate some income subject to these taxes. Income from these funds is usually subject to state and local income taxes. 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.

Additional Disclosures

A mutual fund registered under American Century Municipal Trust, and managed by American Century Inv Mgt, Inc. This description is only intended to provide a brief overview of the fund. Read the fund's prospectus for more detailed information about the fund.

Weighted average maturity (WAM) is the weighted average of all the maturities of the securities held in a fund. WAM for money market funds can be used as a measure of sensitivity to interest rate changes. Generally, the longer the maturity, the greater the sensitivity. WAM for money market funds is based on the dollar-weighted average length of time until principal payments must be paid, taking into account any call options exercised by the issuer and any permissible maturity shortening devices, such as demand features and interest rate resets. For bond funds, WAM can be used as a measure of sensitivity to the markets. Generally, the longer the maturity, the greater the sensitivity. The WAM calculation for bond funds excludes interest rate resets and only takes into account issuer call options if it is probable that the issuer of the instrument will take advantage of such options.

Details

More Information
Morningstar Category Muni National Interm
Fund Inception 4/15/2003
NAV
4/17/2014
$11.37
30-Day Yield 5
3/31/2014
1.91%
Weighted Avg MaturityGlossary definition opens in new window.
12/31/2013
8.93 years
DurationGlossary definition opens in new window.
12/31/2013
5.43 years
Exp Ratio (Gross)Glossary definition opens in new window.
11/30/2013
0.27%
($2.70 per $1000)
Exp Ratio (Net)Glossary definition opens in new window.
11/30/2013
0.27%
($2.70 per $1000)
Transaction Fee (Online) 1 $49.95
Minimum to Invest 6 $5,000,000.00
Turnover Rate
5/31/2013
58%
Net Assets ($M)
3/31/2014
$1,473.96
12 Month Low-High
3/31/2014
$11.03 - $11.77

Top 10 Holdings

7 More Information
AS OF 12/31/2013
Top 10 Holdings
New York N Y City Mun Wtr Fin Rev Bds 0.96%
California St Var Purp 5.25% 0.90%
Georgia St Go Ref Bd 5% 0.70%
California St Go Bds 5.75% 0.58%
Pennsylvania Econ Dev Fing Rev Bds 5% 0.58%
Detroit Mich Wtr & Sew Dept Se Rev 5.25% 0.57%
Washington Fed Hwy Grnt Antic Grnt An 5% 0.56%
Connecticut St Health & Edl Fa Re 0.875% 0.56%
Pennsylvania St Go Ref Bd 5% 0.56%
Pittsburgh Pa Go Ref Bd 5.25% 0.56%
% of Total Portfolio 6.53%
out of 809 holdings

Quarter-End Average Annual Total Returns

3, 2 More Information
AS OF 3/31/2014; *FUND INCEPTION 4/15/2003

EXPENSE RATIO (GROSS):Glossary definition opens in new window.
0.27% AS OF 11/30/2013
1 Yr 3 Yr 5 Yr 10 Yr Life of Fund*
Before TaxesGlossary definition opens in new window.
American Century Investments Intermediate Term Tax-Free Bond Fund Institutional Class -0.14% 4.81% 4.96% 4.01% 4.10%
After Taxes on DistributionsGlossary definition opens in new window.
American Century Investments Intermediate Term Tax-Free Bond Fund Institutional Class -0.22% 4.78% 4.94% 4.00% 4.09%
After taxes on distributions and sale of fund sharesGlossary definition opens in new window.
American Century Investments Intermediate Term Tax-Free Bond Fund Institutional Class 1.16% 4.42% 4.63% 3.93% 4.01%

Read more about after-tax returns.

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.

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

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. 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.

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. 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.

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. Initial minimum investments into group retirement accounts such as Fidelity Simplified Employee Pension-IRA, Keogh, Self-Employed 401(k), and Non-Fidelity Prototype Retirement accounts are $500 or higher. Additional investments into Regular, IRA, and Group accounts are $250 or higher.

7. Any holdings, asset allocation, diversification breakdowns or other composition data shown are as of the date indicated and are subject to change at any time. They may not be representative of the fund's current or future investments. Some breakdowns may be intentionally limited to a particular asset class or other subset of the fund's entire portfolio, particularly in multi-asset class funds where the attributes of the equity and fixed income portions are different.

Under the asset allocation section, international (or foreign) assets may be reported differently depending on how an investment options reports its holdings. Some do not report international (or foreign) holdings here, but instead report them in a "Regional Diversification" section. Some report them in this section as an to the equity, bond and other allocation shown. Others report international (or foreign) holding as a subset of the equity and bond allocations shown. If the allocation without the foreign component (or round to) 100%, then international (or foreign) is a subset of the equity and bond percentage shown.

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.