Fidelity zero expense muni bond?

[smooth_rough]

Fidelity Flex Conservative Income Municipal Bond Fund (FUEMX) advertising zero expense.

Any hidden expenses ?

30 yield 4.2%. TEY 7.11%.

[Geologist]

According to this website at Fidelity: https://fundresearch.fidelity.com/mutua ... /316203843

This fund has an expense ratio of 0.30% currently reduced to 0.25% by a fee waiver (the webpage reports this and the summary prospectus). That does not appear to be zero expense.

[smooth_rough]

According to this website at Fidelity: https://fundresearch.fidelity.com/mutua ... /316203843

This fund has an expense ratio of 0.30% currently reduced to 0.25% by a fee waiver (the webpage reports this and the summary prospectus). That does not appear to be zero expense.

That has different fund ticker symbol FMNDX.

[Geologist]

According to this website at Fidelity: https://fundresearch.fidelity.com/mutua ... /316203843

This fund has an expense ratio of 0.30% currently reduced to 0.25% by a fee waiver (the webpage reports this and the summary prospectus). That does not appear to be zero expense.

That has different fund ticker symbol FMNDX.

You're right. However, FUEMX (https://fundresearch.fidelity.com/mutua ... /316203819) says:

"Closed to Investors" and
"Shares are available only to certain fee-based accounts and advisory programs offered by Fidelity."

The summary prospectus adds: "Advisory account clients, retirement plans, plan sponsors and/or plan participants typically pay an advisory fee that generally covers investment advisory and administrative services."

So they get you for fees one way or another.

[tj]

There are no ZERO bond funds available to retail investors. You can open a Fidelity Go account and invest up to $25k for free. But don't put too much in because once you surpass $25k you get charged an AUM fee on the whole amount.