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Fidelity® Institutional Money Market Tax Exempt - Class I

  • Symbol: FTCXX
  • No Transaction Fee No Transaction Fee 1

Morningstar® Snapshot*

AS OF 3/31/2014; MORNINGSTAR CATEGORY: Money Market- Tax-Free
Overall Rating Not available
Not Available
Returns Not available
Not Available
Fees Not available
Not Available
Risk of this Category Category Risk Rating:1, where 1 is Lower and 10 is Higher

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


2 More Information
AS OF 3/31/2014 ; *YTD AS OF 4/15/2014
YTD (Daily)* 1 Yr 3 Yr 5 Yr 10 Yr
YTD (Daily)* 0.00% 1 Yr +0.02% 3 Yr +0.01% 5 Yr +0.06% 10 Yr +1.24%

View Performance & Risk including Quarter-End Returns

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
Doug McGinley since 9/1/2008

Fund Overview


Seeks to obtain as high a level of interest income exempt from federal income tax as is consistent with liquidity and stability of principal.


Normally investing in municipal money market securities rated in the highest category by at least one nationally recognized rating service or in one of the two highest categories by another rating service if rated by more than one, or, if unrated, determined to be of equivalent quality to the highest category by FMR. Normally investing at least 80% of assets in municipal securities whose interest is exempt from federal income tax. Normally not investing in municipal securities whose interest is subject to the federal alternative minimum tax. Generally maintaining a dollar-weighted average maturity at 60 days or less.


An investment in a money market fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although the fund seeks to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in the fund. The municipal market can be affected by adverse tax, legislative or political changes and the financial condition of the issuers of municipal securities. A portion of the dividends you receive may be subject to federal and state income taxes. Capital gains realized by the fund generally will be subject to taxation at each level. The fund may invest in municipal securities whose interest is subject to the federal alternative minimum tax. Interest rate increases can cause the price of money market securities to decrease.

Additional Disclosures

A mutual fund registered under Fidelity Colchester Street Trust, and managed by Fidelity Management & Research Company. 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.

Fidelity is voluntarily reimbursing a portion of the fund's expenses. If Fidelity had not, the returns would have been lower.


More Information
Morningstar Category Money Market- Tax-Free
Fund Inception 7/25/1985
7-Day Yield 3
Tax Equivalent Yield
Weighted Avg MaturityGlossary definition opens in new window.
33 days
Weighted Avg LifeGlossary definition opens in new window.
33 days
Exp Ratio (Gross)Glossary definition opens in new window.
($2.20 per $1000)
Exp Ratio (Net)Glossary definition opens in new window.
($2.20 per $1000)
Minimum to Invest 4 $1,000,000.00
Net Assets ($M)
12 Month Low-High
$1.00 - $1.00

Chart Fund Price (NAV)

The most current Annual or Semi-Annual Report as of 09/30/2013 reflects a net expense ratio of 0.12%. Prospectus expenses shown above may not include certain voluntary caps and waivers that reduce the actual expenses of the fund. The voluntary waivers and caps can be discontinued at any time.

Composition by Instrument

5 More Information
AS OF 3/31/2014
Municipal Notes 12.72%
Municipal Bonds 2.92%
Tender Bonds 5.60%
Commercial Paper 15.24%
Variable Rate Demand Notes 60.59%
Other Money Market Investments 2.92%
Net Other Assets 0.01%

Net Other Assets may include cash and receivables and payables related to open security or capital stock trades.

Quarter-End Average Annual Total Returns

6, 2 More Information
AS OF 3/31/2014; *FUND INCEPTION 7/25/1985

EXPENSE RATIO (GROSS):Glossary definition opens in new window.
0.22% AS OF 5/30/2013
1 Yr 3 Yr 5 Yr 10 Yr Life of Fund*
Before TaxesGlossary definition opens in new window.
Fidelity® Institutional Money Market Tax Exempt - Class I 0.02% 0.01% 0.06% 1.24% 2.81%
After Taxes on DistributionsGlossary definition opens in new window.
Fidelity® Institutional Money Market Tax Exempt - Class I 0.02% 0.01% 0.06% 1.24% --
After taxes on distributions and sale of fund sharesGlossary definition opens in new window.
Fidelity® Institutional Money Market Tax Exempt - Class I 0.02% 0.01% 0.06% 1.24% --

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.

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2013 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. No Transaction Fee Fidelity funds are available without paying a trading fee to Fidelity or a sales load to the fund. However, the fund may charge a short-term trading or redemption fee to protect the interests of long-term shareholders of the fund. Shares are subject to the fund's management and operating expenses. See Expenses & Fees for more information.

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 current yield reflects the current earnings of the fund, while the total return refers to a specific past holding period.

4. 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. There is no minimum for additional investments in any type of Fidelity fund you already own.

5. 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. The Top Ten holdings do not include money market instruments or futures contracts, if any. Depository receipts are normally combined with the underlying security. 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 option 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 in addition 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 equals (or rounds to) 100%, then international (or foreign) is a subset of the equity and bond percentage shown.

6. 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.

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.