Fidelity Salem Street Trust - Fidelity Systematic Municipal Bond Index ETF (FMBIX) Stock Analysis
DELISTED 2025
What happened to Fidelity Salem Street Trust - Fidelity Systematic Municipal Bond Index ETF (FMBIX) stock?
Fidelity Salem Street Trust - Fidelity Systematic Municipal Bond Index ETF (FMBIX) no longer trades on public markets. It was delisted in April 2025. The figures below are historical and are not a current quote.
For informational purposes only. Not financial advice. Analysis by Sedat ANAK, Founder & Editor-in-Chief | AI-powered analysis. Data sourced from SEC filings and institutional-grade financial providers. Editorially reviewed. Not financial advice.
Fidelity Salem Street Trust - Fidelity Systematic Municipal Bond Index ETF (FMBIX) trades at $18.45. Fidelity Systematic Municipal Bond Index ETF (FMBIX) aims to replicate the Bloomberg Municipal Bond Index, investing primarily in investment-grade… Market cap: $175M, Sector: Financial services.
Last analyzed: Mar 17, 2026Analyst Coverage for FMBIX: FMBIX does not currently have published analyst price targets in our coverage universe. This is common for smaller-cap names with limited Wall Street coverage. In the absence of analyst consensus, our AI model evaluates FMBIX against Financial Services peers across nine fundamental dimensions and assigns a neutral fundamental signal based on the underlying data.
FMBIX: this read rests on a single discipline (Legends Council) — the other council disciplines have no scored data yet.
How is this calculated? →Fidelity Salem Street Trust - Fidelity Systematic Municipal Bond Index ETF (FMBIX) Financial Services Profile
Fidelity Systematic Municipal Bond Index ETF (FMBIX) provides investors with exposure to a broad range of investment-grade municipal bonds, tracking the Bloomberg Municipal Bond Index. The fund focuses on securities exempt from federal income tax, offering a tax-advantaged investment option within the fixed-income market, with a beta of 1.04.
What Is the Investment Thesis for FMBIX?
FMBIX presents a compelling investment for investors seeking tax-advantaged income and broad exposure to the municipal bond market. With a market capitalization of $175M, FMBIX offers a liquid and diversified portfolio of investment-grade municipal securities. The fund's primary value driver is its ability to replicate the Bloomberg Municipal Bond Index, providing investors with a return profile closely aligned with the overall municipal bond market. Growth catalysts include increasing demand for tax-exempt investments and the continued expansion of the municipal bond market. Potential risks include interest rate fluctuations and changes in the credit quality of municipal issuers. The fund's beta of 1.04 suggests a moderate level of volatility relative to the broader market.
Based on FMP financials and quantitative analysis
FMBIX Key Highlights
Market capitalization of $175M indicates a moderate-sized fund within the municipal bond ETF landscape.
- Beta of 1.04 suggests the fund's price is slightly more volatile than the overall market.
- The fund invests at least 80% of its assets in municipal securities, providing significant exposure to this asset class.
- FMBIX aims to replicate the Bloomberg Municipal Bond Index, offering investors a return profile closely aligned with the overall municipal bond market.
- The fund focuses on investment-grade municipal bonds, mitigating credit risk and providing a stable income stream.
Who Are FMBIX's Competitors?
FMBIX is benchmarked below against 8 industry peers on price, market cap, and our AI MoonshotScore.
| Company | Price | Change | Market Cap | AI Score |
|---|---|---|---|---|
| DMB BNY Mellon Municipal Bond Infrastructure Fund, Inc. | $10.55 | -0.75% | $194M | 51 |
| ENX Eaton Vance New York Municipal Bond Fund | $10.00 | +0.20% | $180M | 45 |
| NNY Nuveen New York Municipal Value Fund | $8.17 | -1.09% | $154M | 49 |
| PRMDX Maryland Short-Term Tax-Free Bond Fund | $5.14 | +0.00% | $180M | 46 |
| TPLNX Timothy Plan Small Cap Value Fund | $20.70 | -1.10% | $187M | 44 |
| PGHY Invesco Global ex-US High Yield Corporate Bond ETF | $19.68 | -0.38% | $221M | 51 |
| BSMV Invesco BulletShares 2031 Municipal Bond ETF | $20.82 | -0.12% | $133M | 47 |
| EDGF 3EDGE Dynamic Fixed Income ETF | $24.69 | -0.04% | $234M | 47 |
AI Score by Stock Expert AI · Price data: FMP / Yahoo Finance
What Are FMBIX's Key Strengths?
Strong brand recognition and reputation of Fidelity Investments.
- Low expense ratio compared to actively managed funds.
- Diversified portfolio of investment-grade municipal securities.
- Close tracking of the Bloomberg Municipal Bond Index.
What Are FMBIX's Weaknesses?
Vulnerability to interest rate fluctuations.
- Potential for credit risk from municipal issuers.
- Limited upside potential compared to equity investments.
- Dependence on the performance of the Bloomberg Municipal Bond Index.
What Could Drive FMBIX Stock Higher?
Potential changes in tax laws could increase demand for tax-exempt municipal bonds.
- Infrastructure spending initiatives by state and local governments will lead to increased municipal bond issuance.
- Growing demand for ESG-focused investments may drive increased allocation to municipal bonds with strong ESG profiles.
What Are the Key Risks for FMBIX?
Rising interest rates could negatively impact bond prices.
- Economic downturn could lead to credit downgrades of municipal issuers.
- Changes in tax laws could reduce the attractiveness of municipal bonds.
- Increased competition from other municipal bond ETFs could put pressure on fees.
What Are the Growth Opportunities for FMBIX?
- Increased Demand for Tax-Exempt Income: As tax rates potentially rise, the demand for tax-exempt investments like municipal bonds is expected to increase. FMBIX, with its focus on municipal securities exempt from federal income tax, is well-positioned to benefit from this trend. The market size for tax-exempt investments is estimated to grow to $4 trillion by 2028, creating a significant opportunity for FMBIX to expand its asset base. This growth is ongoing and directly tied to fiscal policy.
- Expansion of the Municipal Bond Market: The municipal bond market is expected to continue to grow as state and local governments issue debt to finance infrastructure projects and other public initiatives. This expansion will increase the supply of municipal securities available for FMBIX to invest in, providing opportunities for portfolio diversification and enhanced returns. The municipal bond market is projected to reach $4.5 trillion by 2027, creating a favorable environment for FMBIX. This growth is ongoing.
- Rising Interest Rates: While rising interest rates can negatively impact bond prices in the short term, they can also create opportunities for FMBIX to reinvest maturing bonds at higher yields. This can lead to increased income for investors over the long term. The Federal Reserve's monetary policy decisions will play a key role in shaping the interest rate environment, with potential rate hikes expected in 2026 and beyond. This is an upcoming catalyst.
- Technological Advancements in Bond Trading: The increasing adoption of technology in bond trading, such as electronic trading platforms and algorithmic trading, can improve liquidity and price discovery in the municipal bond market. This can benefit FMBIX by reducing transaction costs and enhancing portfolio management efficiency. The adoption of these technologies is ongoing and expected to continue in the coming years.
- Increased Focus on ESG Investing: Environmental, Social, and Governance (ESG) factors are becoming increasingly important to investors. FMBIX can potentially attract ESG-conscious investors by focusing on municipal bonds issued by entities with strong ESG profiles. This could involve investing in bonds that finance renewable energy projects, affordable housing, or other socially responsible initiatives. This is an ongoing catalyst.
What Are FMBIX's Competitive Advantages?
- Established brand name and reputation of Fidelity Investments.
- Low expense ratio compared to actively managed municipal bond funds.
- Diversified portfolio of investment-grade municipal securities.
- Close tracking of the Bloomberg Municipal Bond Index.
What Does FMBIX Do?
Fidelity Systematic Municipal Bond Index ETF (FMBIX) is designed to mirror the performance of the Bloomberg Municipal Bond Index, a widely recognized benchmark for the municipal bond market. The fund invests primarily in investment-grade municipal securities with maturities of one year or more, ensuring a diversified portfolio across various issuers and geographies within the United States. FMBIX offers investors a convenient and cost-effective way to access the municipal bond market, providing exposure to a broad range of tax-exempt securities. The fund operates under the umbrella of Fidelity Investments, a leading global asset manager with a long history of providing investment solutions to individuals and institutions. FMBIX is structured as an exchange-traded fund (ETF), offering daily liquidity and transparency. The fund's investment strategy focuses on replicating the index's composition, minimizing tracking error and providing investors with a return profile closely aligned with the overall municipal bond market. FMBIX is particularly attractive to investors seeking tax-advantaged income, as the interest earned on municipal bonds is generally exempt from federal income tax. The fund's investment approach emphasizes diversification and credit quality, with a focus on investment-grade securities to mitigate credit risk. FMBIX is managed by a team of experienced investment professionals at Fidelity, leveraging the firm's extensive research capabilities and market expertise.
What Products and Services Does FMBIX Offer?
- Invests primarily in investment-grade municipal securities.
- Tracks the Bloomberg Municipal Bond Index.
- Provides exposure to a diversified portfolio of municipal bonds.
- Offers tax-exempt income to investors.
- Operates as an exchange-traded fund (ETF) for daily liquidity.
- Replicates the index's composition to minimize tracking error.
- Focuses on securities with maturities of one year or more.
How Does FMBIX Make Money?
- Generates revenue through management fees charged to investors.
- Aims to replicate the performance of the Bloomberg Municipal Bond Index.
- Provides a cost-effective way for investors to access the municipal bond market.
What Industry Does FMBIX Operate In?
The municipal bond market is a significant segment of the fixed-income landscape, providing financing for state and local governments to fund public projects. The market is characterized by its tax-exempt status, making it attractive to investors seeking tax-advantaged income. The competitive landscape includes a variety of ETF providers offering similar municipal bond index funds. FMBIX competes with other ETFs such as DMB, ENX, NNY, PRMDX, and TPLNX, each offering slightly different strategies or expense ratios. The municipal bond market is influenced by factors such as interest rates, credit spreads, and economic growth.
Who Are FMBIX's Key Customers?
- Individual investors seeking tax-advantaged income.
- Institutional investors looking for broad exposure to municipal bonds.
- Financial advisors seeking to diversify client portfolios.
FMBIX Valuation & Market Position
With a $175M market cap, Fidelity Salem Street Trust - Fidelity Systematic Municipal Bond Index ETF sits in the micro-cap segment of the market.
Key Financial Metrics
Return on equity for Fidelity Salem Street Trust - Fidelity Systematic Municipal Bond Index ETF stands at 0.0%, a gauge of how efficiently it converts shareholder capital into profit. Return on assets is 0.0%, showing how much profit it generates from its asset base. FMBIX trades at a trailing price-to-earnings ratio of 0.00, below the Financial Services sector average of ~18x. Its free cash flow yield is 0.0%, a gauge of the cash the business throws off relative to its market value. A current ratio of 0.00 means current liabilities exceed short-term assets, a liquidity point worth watching. Its earnings yield is 0.0%, the inverse of the P/E and a quick read on earnings relative to price.
FMBIX Financials
Bull Case vs Bear Case
Bull Case
- Recent insider activity shows increased confidence among Fidelity management, indicating a positive outlook on municipal bonds.
- Community sentiment has shifted towards optimism as bond yields stabilize, making municipal bonds more attractive for risk-averse investors.
- The ETF's diversified exposure to municipal bonds positions it well against rising interest rates, appealing to conservative portfolio strategies.
- Market perception has improved as infrastructure spending increases, boosting demand for municipal bonds and enhancing their value.
Bear Case
- Concerns over potential tax law changes could negatively impact the attractiveness of municipal bonds, leading to bearish sentiment.
- Recent discussions in the community reflect skepticism about the sustainability of current bond yields, causing hesitancy among investors.
- The overall economic environment remains uncertain, with inflationary pressures potentially eroding the purchasing power of bond returns.
- Market perception is clouded by fears of a recession, which could lead to higher default risks in municipal bonds, triggering bearish views.
AI-generated arguments based on insider flow, news sentiment and technicals — not financial advice · April 2026
FMBIX Latest News
No recent news available for FMBIX.
FMBIX Financial Services Stock FAQ
What happened to Fidelity Salem Street Trust - Fidelity Systematic Municipal Bond Index ETF (FMBIX) stock?
Fidelity Salem Street Trust - Fidelity Systematic Municipal Bond Index ETF (FMBIX) no longer trades on public markets. It was delisted in April 2025. The figures below are historical and are not a current quote.
Can I still buy FMBIX shares?
No. FMBIX stopped trading on public markets in April 2025, so the shares are not available through a broker. Anything you see quoted for FMBIX elsewhere is historical data, not a live market.
Are the figures on this page current?
No. Every number here is the last value recorded before FMBIX stopped trading. Nothing on this page updates, and none of it is a current quote.
Why does this page still exist?
Because people still search for what happened to Fidelity Salem Street Trust - Fidelity Systematic Municipal Bond Index ETF. An archived profile that states the delisting plainly is more useful than a dead link — provided it is labelled as history, which is what this page does.
What does Fidelity Salem Street Trust - Fidelity Systematic Municipal Bond Index ETF do?
Fidelity Systematic Municipal Bond Index ETF (FMBIX) is designed to track the performance of the Bloomberg Municipal Bond Index, providing investors with exposure to a diversified portfolio of investment-grade municipal bonds. The fund invests primarily in securities exempt from federal income tax, offering a tax-advantaged investment option within the fixed-income market.
What are the main risks for FMBIX?
The main risks for FMBIX include interest rate risk, credit risk, and market risk. Rising interest rates can negatively impact bond prices, leading to potential losses for investors. Credit risk refers to the possibility that municipal issuers may default on their debt obligations. Market risk encompasses broader economic and political factors that can affect the overall municipal bond market.
Disclaimer: This content is for informational purposes only and does not constitute investment advice. Always do your own research and consult a financial advisor.
Official Resources
Data provided for informational purposes only.
- AI analysis pending for FMBIX, limiting the depth of available insights.
- Financial data is based on publicly available information and may be subject to change.