FTEXX yield: 2.06% as filed, and what it keeps after tax
FTEXX is the ticker of Fidelity Municipal Money Market Fund. Here is what it paid and what you keep after tax. Yield reported by the fund for October 29, 2026, its last business day in the October 2026 report; holdings as of October 31, 2026, the date of that report. The fund’s own site shows today’s figure. Not investment advice.
Example result
FTEXX after federal and California tax
1.87%
$934 a year kept on $1,030 of dividends
| Dividends before tax | $1,030 |
| Federal tax at 24.0% | −$0 |
| State tax at 9.30% $0 of the $1,030 is free of California tax | −$96 |
Yield reported by the fund for October 29, 2026; yields change daily. Estimate, not tax or investment advice. Nothing you type leaves your browser. How it is computed
What the filings say about FTEXX
Fidelity Municipal Money Market Fund holds short-term debt of states and municipalities from across the country, 92% of the portfolio in the filing for October 31, 2026. Its dividends are exempt from federal income tax but, for most readers, taxed by their own state except for the slice from their state’s bonds. The filed 7-day yield was 2.06%. What sets FTEXX apart in the data is its cost: the gross yield was 2.45%, so expenses took about 0.39%, more than Vanguard’s municipal fund VMSXX at 0.11%. On a yield of about two percent that is a large bite. It also held a weighted average maturity of 44 days, the longest of the municipal funds on this site, which makes it slower to follow rates up or down.
FTEXX 7-day yield as filed, June 1, 2026 to October 29, 2026
| Last day reported in the month | 7-day net yield |
|---|---|
| June 30, 2026 | 2.34% |
| July 31, 2026 | 2.21% |
| August 31, 2026 | 2.12% |
| September 30, 2026 | 2.97% |
| October 29, 2026 | 2.06% |
A fund reports these yields once a month, within five business days of month end. Between two reports the figure here ages: by the time the October 2026 report is replaced, it is up to five weeks old. The fund’s own site shows today’s figure.
What FTEXX held on October 31, 2026
| Holding | Share of portfolio | Exempt from state tax? |
|---|---|---|
| Municipal securities | 92.4% | Federal: yes; state: usually only your own state |
| Company and bank debt (commercial paper, certificates of deposit) and other | 7.6% | No |
FTEXX at a glance
| Fund type | Municipal money market fund; category on the filing: Other Tax Exempt |
| Legal entity that files the fund’s report | Fidelity Union Street Trust II |
| Assets in this share class | $4.1 billion |
| Gross 7-day yield of the fund | 2.45% |
| Expenses taken from the yield (expense drag) | 0.39% |
| Average days until holdings repay or reset their rate (weighted average maturity) | 44 days (legal limit 60) |
| Average days until holdings are paid back in full (weighted average life) | 44 days (legal limit 120) |
| Minimum initial investment on file | $1 |
Where FTEXX ranks after tax
Among the 283 share classes in the data, for a single filer with $120,000 of taxable income and $50,000 in the fund:
| State | Rank | Yield after tax | Kept a year |
|---|---|---|---|
| California | 264 of 283 | 1.87% | $934 |
| New York | 263 of 283 | 1.94% | $968 |
| Texas | 261 of 283 | 2.06% | $1,030 |
The rank compares FTEXX with every other fund for a resident of that state. In a state with no income tax, such as Texas, funds whose dividends are taxed by states catch up, so the rank can be lower even though you keep more. In California, the fund ranked first kept $582 a year more than FTEXX on $50,000.
A rank of past yields, not a recommendation, and this site does not say which fund to hold. Moving cash to another fund can involve a minimum or a fee set by your brokerage. Rank every fund for your situation.
What to watch in FTEXX
Its yield ranged from 1.44% on July 8, 2026 to 3.12% on October 5, 2026 over the months on file, the typical pattern of tax-exempt money funds.
Questions about this page
Tap a question to see the answer.
Is FTEXX tax exempt in every state?
No. FTEXX dividends are exempt from federal income tax. States generally tax municipal income from other states, so most of the dividend is taxable where you live, except the share from your own state’s bonds that Fidelity reports after year end. Illinois and a few others tax nearly all of it.
FTEXX or a government money fund?
Compare after tax. FTEXX at 2.06% keeps its full yield federally; a government fund at around 3.55% loses your federal rate but often keeps a state exemption. On the filed yields the municipal fund keeps more only when federal and state tax together take more than 42% of the government fund’s dividend. Try your brackets above.
Why is the FTEXX expense drag higher?
The drag on this page is the difference between the gross and the net 7-day yields the fund reported for the same day: about 0.39%. It reflects the management fee and other expenses net of any waiver. Fidelity’s prospectus gives the official expense ratio.
Other pages
Filings, rules and tax schedules behind this page
- Form N-MFP report of Fidelity Union Street Trust II for October 31, 2026, filed November 6, 2026 (as filed)
- Securities and Exchange Commission, Form N-MFP data sets (monthly, as filed)
- 17 CFR 270.2a-7, money market funds (rule 2a-7)
- IRS Revenue Procedure 2025-32, 2026 tax rate tables
- California Franchise Tax Board, 2025 Schedule CA (540) instructions: funds with 50% of assets in U.S. or California obligations
- New York State Department of Taxation and Finance, 2025 Form IT-201 instructions (line 28, rate schedules)
Compiled by Radif Partners
Independent publisher of money market fund yield and after-tax calculators built on Form N-MFP filings
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Fund data as filed for 2026, site checked on