Fidelity Tax-Exempt Money Market Fund (FMOXX) Stock Analysis
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 Tax-Exempt Money Market Fund (FMOXX) trades at $1.00. Fidelity Tax-Exempt Money Market Fund (FMOXX) is a money market fund managed by Fidelity Investments, focusing on providing tax-exempt income to investors. Sector: Financial services.
Price as of Aug 21, 2026 · Last analyzed: Mar 17, 2026Analyst Coverage for FMOXX: FMOXX 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 FMOXX against Financial Services peers across nine fundamental dimensions and assigns an underweight signal based on the underlying data.
Not enough scored data yet to form a council read on FMOXX.
How is this calculated? →Fidelity Tax-Exempt Money Market Fund (FMOXX) Financial Services Profile
Fidelity Tax-Exempt Money Market Fund (FMOXX) is a leading tax-exempt money market fund managed by Fidelity Investments, offering investors a stable and liquid investment option focused on short-term municipal securities. It aims to provide competitive, federally tax-exempt income while preserving capital and maintaining a high degree of liquidity, catering to risk-averse investors.
What Is the Investment Thesis for FMOXX?
Fidelity Tax-Exempt Money Market Fund (FMOXX) presents a compelling option for investors seeking capital preservation and tax-exempt income. The fund's primary value driver is its ability to provide a stable net asset value (NAV) while generating a competitive yield compared to other tax-exempt money market funds. Growth catalysts include increased demand for tax-advantaged investments, particularly in a rising tax environment, and the fund's strong track record of consistent performance. Key metrics to monitor include the fund's yield, expense ratio, and the credit quality of its underlying holdings. Potential risks include changes in interest rates, which could impact the fund's yield and NAV, as well as regulatory changes affecting the tax-exempt status of municipal securities. However, Fidelity's experienced management team and rigorous risk management practices mitigate these risks, making FMOXX a suitable choice for risk-averse investors looking to preserve capital and earn tax-free income.
Based on FMP financials and quantitative analysis
FMOXX Key Highlights
FMOXX aims to maintain a stable net asset value (NAV) of $1.00 per share, providing capital preservation for investors.
- The fund invests primarily in short-term municipal securities, offering income exempt from federal income taxes.
- Fidelity Investments actively manages the fund, adjusting its portfolio based on market conditions and interest rate movements.
- FMOXX is designed for investors who prioritize capital preservation and seek a steady stream of tax-exempt income.
- The fund's performance is benchmarked against other tax-exempt money market funds and relevant indices to ensure competitiveness.
Who Are FMOXX's Competitors?
FMOXX is benchmarked below against 8 industry peers on price, market cap, and our AI MoonshotScore.
| Company | Price | Change | Market Cap | AI Score |
|---|---|---|---|---|
| VMSXX Vanguard Municipal Money Market | $1.00 | +0.00% | 46 | |
| ABALX American Funds American Balanced Fund Class A | $41.00 | +0.37% | $292B | 72 |
| BX Blackstone Inc. | $141.41 | -2.54% | $171B | 81 |
| AMFCX American Funds American Mutual Fund | $63.80 | -0.72% | $77.4B | 71 |
| RNNEX American Funds The New Economy Fund Class R-2E | $80.46 | -0.29% | $52.9B | 91 |
| AMP Ameriprise Financial, Inc. | $554.06 | -1.02% | $49.8B | 70 |
| IDDTF AB Industrivärden (publ) | $54.65 | -0.36% | $23.6B | 70 |
| TPG TPG Inc. | $51.57 | -3.03% | $19.8B | 67 |
AI Score by Stock Expert AI · Price data: FMP / Yahoo Finance
What Are FMOXX's Key Strengths?
Strong brand reputation of Fidelity Investments
- Extensive research capabilities in the municipal bond market
- Large asset base providing economies of scale
- Established distribution network
What Are FMOXX's Weaknesses?
Vulnerability to interest rate changes
- Reliance on the tax-exempt status of municipal securities
- Potential for regulatory changes affecting money market funds
- Limited growth potential compared to other asset classes
What Could Drive FMOXX Stock Higher?
Potential changes in tax laws could increase demand for tax-exempt investments.
- Rising interest rate environment may lead to higher yields and attract new investors.
- Fidelity's ongoing marketing efforts to promote FMOXX to a wider audience.
What Are the Key Risks for FMOXX?
Changes in interest rates could negatively impact the fund's yield and NAV.
- Regulatory changes affecting the tax-exempt status of municipal securities.
- Economic downturn leading to credit downgrades of municipal issuers.
- Competition from other tax-exempt money market funds.
What Are the Growth Opportunities for FMOXX?
- Increased Demand for Tax-Advantaged Investments: As tax rates potentially rise, the demand for tax-exempt investment options like FMOXX is expected to increase. This trend could drive growth in assets under management (AUM) for the fund, as investors seek to minimize their tax liabilities. The market size for tax-exempt investments is estimated to be in the trillions of dollars, providing a significant opportunity for FMOXX to attract new investors and grow its AUM. Timeline: Ongoing.
- Expansion of Distribution Channels: Fidelity Investments can expand the distribution channels for FMOXX to reach a broader audience of investors. This could include partnerships with financial advisors, online brokerage platforms, and retirement plan providers. By making the fund more accessible, Fidelity can attract new investors and increase its market share in the tax-exempt money market fund segment. The potential market size for new distribution channels is significant, as many investors still rely on traditional financial advisors for investment advice. Timeline: Ongoing.
- Rising Interest Rate Environment: While rising interest rates can pose challenges for money market funds, they also present opportunities to increase yields and attract new investors. As interest rates rise, FMOXX can invest in higher-yielding municipal securities, which could make the fund more attractive compared to other low-yielding investment options. The potential market size for higher-yielding money market funds is substantial, as investors seek to maximize their returns while maintaining a high degree of safety and liquidity. Timeline: Ongoing.
- Focus on Sustainable Investing: Fidelity Investments can incorporate sustainable investing principles into the management of FMOXX by investing in municipal securities that finance environmentally friendly or socially responsible projects. This could attract a growing segment of investors who are interested in aligning their investments with their values. The market size for sustainable investing is rapidly expanding, providing a significant opportunity for FMOXX to differentiate itself from competitors and attract new assets. Timeline: Ongoing.
- Technological Innovation: Fidelity Investments can leverage technological innovation to enhance the investor experience and improve the efficiency of FMOXX's operations. This could include developing a mobile app for investors to track their investments, providing online tools for financial planning, and using artificial intelligence to optimize portfolio management. By embracing technology, Fidelity can attract tech-savvy investors and reduce its operating costs, which could lead to higher returns for investors. Timeline: Ongoing.
What Are FMOXX's Competitive Advantages?
- Strong brand reputation of Fidelity Investments.
- Extensive research capabilities in the municipal bond market.
- Large asset base providing economies of scale.
- Established distribution network through various brokerage platforms and financial advisors.
What Does FMOXX Do?
Fidelity Tax-Exempt Money Market Fund (FMOXX) is a money market fund managed by Fidelity Investments, one of the largest and most well-respected asset management firms globally. Established to provide investors with tax-advantaged investment options, FMOXX focuses on generating income that is exempt from federal income taxes by investing primarily in short-term municipal securities. These securities include municipal bonds, notes, and other obligations issued by state and local governments. The fund's investment strategy centers around maintaining a stable net asset value (NAV), typically at $1.00 per share, while offering a competitive yield. This makes it a noteworthy option for investors seeking a safe haven for their cash, particularly those in higher tax brackets. Fidelity Investments leverages its extensive research capabilities and deep understanding of the municipal bond market to select securities that meet the fund's objectives of safety, liquidity, and yield. FMOXX is designed for investors who prioritize capital preservation and seek a steady stream of tax-exempt income. The fund is widely available through various brokerage platforms and financial advisors, making it accessible to a broad range of investors. Fidelity Investments actively manages the fund, adjusting its portfolio composition based on market conditions and interest rate movements to optimize performance and manage risk. The fund's performance is benchmarked against other tax-exempt money market funds and relevant indices to ensure it remains competitive and aligned with its investment objectives.
What Products and Services Does FMOXX Offer?
- Invests primarily in short-term municipal securities.
- Aims to provide income exempt from federal income taxes.
- Seeks to maintain a stable net asset value (NAV) of $1.00 per share.
- Offers a liquid investment option for cash management.
- Provides a tax-advantaged investment for investors in higher tax brackets.
- Actively manages the portfolio to optimize performance and manage risk.
- Benchmarks performance against other tax-exempt money market funds.
How Does FMOXX Make Money?
- Generates income by investing in short-term municipal securities.
- Passes on the tax-exempt income to investors.
- Charges an expense ratio to cover the costs of managing the fund.
- Attracts investors seeking capital preservation and tax-advantaged income.
What Industry Does FMOXX Operate In?
Fidelity Tax-Exempt Money Market Fund (FMOXX) operates within the asset management industry, specifically in the money market fund segment. This segment is characterized by a focus on providing investors with safe, liquid, and low-yielding investments. Money market funds, including tax-exempt options like FMOXX, are often used as a cash management tool or a temporary holding place for funds before they are deployed into other investments. The competitive landscape includes other large asset managers offering similar tax-exempt money market funds, as well as alternative short-term investment options such as Treasury bills and certificates of deposit. The industry is influenced by interest rate movements, regulatory changes, and investor demand for tax-advantaged investments.
Who Are FMOXX's Key Customers?
- Individual investors in higher tax brackets.
- Financial advisors seeking tax-advantaged investment options for their clients.
- Institutions looking for a safe and liquid place to park cash.
- Retirement plans seeking to offer tax-exempt investment options to their participants.
FMOXX Financials
Bull Case vs Bear Case
Bull Case
- Strong brand reputation of Fidelity Investments
- Extensive research capabilities in the municipal bond market
- Large asset base providing economies of scale
- Established distribution network
Bear Case
- Vulnerability to interest rate changes
- Reliance on the tax-exempt status of municipal securities
- Potential for regulatory changes affecting money market funds
- Limited growth potential compared to other asset classes
AI-generated arguments based on insider flow, news sentiment and technicals — not financial advice · August 2026
FMOXX Latest News
No recent news available for FMOXX.
FMOXX Analyst Consensus
Consensus Rating
Aggregated Buy/Hold/Sell recommendations from Benzinga, Yahoo Finance, and Finnhub for FMOXX.
Price Targets
Wall Street price target analysis for FMOXX.
FMOXX MoonshotScore
What does this score mean?
The MoonshotScore rates FMOXX 0-100 on quantitative fundamentals — growth, financial health, valuation, momentum, and risk.
FMOXX Financial Services Stock FAQ
What does Fidelity Tax-Exempt Money Market Fund do?
Fidelity Tax-Exempt Money Market Fund (FMOXX) is a money market fund that invests primarily in short-term municipal securities. Its main objective is to provide investors with income that is exempt from federal income taxes while maintaining a stable net asset value (NAV), typically at $1.00 per share.
What are the main risks for FMOXX?
The main risks for Fidelity Tax-Exempt Money Market Fund (FMOXX) include interest rate risk, credit risk, and regulatory risk. Interest rate risk refers to the potential for the fund's yield and NAV to decline if interest rates rise. Credit risk is the risk that the issuers of the municipal securities held by the fund may default on their obligations.
How sensitive is FMOXX to interest rate changes?
Fidelity Tax-Exempt Money Market Fund (FMOXX) is sensitive to interest rate changes, as its yield and net asset value (NAV) can be affected by movements in interest rates. When interest rates rise, the fund's yield may increase as it invests in higher-yielding municipal securities.
What are the key factors to evaluate for FMOXX?
Evaluate FMOXX on fundamentals, analyst consensus, and risk factors. Fidelity Tax-Exempt Money Market Fund (FMOXX) presents a compelling option for investors seeking capital preservation and tax-exempt income. Not financial advice.
How frequently does FMOXX data refresh on this page?
FMOXX's price was last updated on Aug 21, 2026 and refreshes on page view during U.S. market hours — it is not a real-time exchange feed. Fundamentals update after quarterly filings; the MoonshotScore recalculates nightly; news aggregates continuously.
What has driven FMOXX's recent stock price performance?
Fidelity Tax-Exempt Money Market Fund (FMOXX) moves on earnings results, analyst revisions, sector rotation, and market sentiment. Notable catalyst: Strong brand reputation of Fidelity Investments. See the News tab for the latest drivers. Past performance does not predict future results.
Should investors consider FMOXX overvalued or undervalued right now?
Fidelity Tax-Exempt Money Market Fund (FMOXX) has no trailing P/E available here, so lean on price-to-sales and cash flow in the Financials tab. Compare P/E, P/S, and EV/EBITDA against sector peers for a full view.
How do I research FMOXX before investing?
Before investing in Fidelity Tax-Exempt Money Market Fund (FMOXX), research these four areas: (1) the company's revenue model and competitive position (see Company Overview), (2) financial health through revenue growth, margins, and cash flow (see MoonshotScore), (3) analyst consensus ratings and price targets (see Analyst tab), and (4) specific risk factors that could impact the stock (see Risk Factors section).
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.
- The information provided is based on publicly available data and is not intended to be investment advice.
- Investors should consult with a financial advisor before making any investment decisions.