Fidelity Ohio Municipal Income Fund
FOHFX
NASDAQ- -
USD
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- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management - Income
- Address
- 245 Summer Street Boston MA United States of America 02210
- IPO Date
- Nov 15, 1985
- CIK
- 0000035373
- Website
- institutional.fidelity.com
- Similar Companies
- Business
- Fidelity Ohio Municipal Income Fund (FOHFX) is an open-end mutual fund that seeks a high level of current income exempt from federal income tax and Ohio personal income tax by investing at least 80% of its assets in investment-grade municipal securities issued by or on behalf of the State of Ohio or its political subdivisions; these include general obligation bonds, revenue bonds such as hospital facilities revenue, airport authority revenue, gas supply revenue, higher education facilities revenue, and tobacco settlement financing authority bonds, as well as other tax-exempt municipal debt obligations, with a portfolio heavily weighted toward municipal tax-exempt securities (approximately 99.64%) and diversified across sectors including healthcare, transportation, utilities, and education. The fund analyzes the credit quality of issuers, security-specific features, current and potential future valuations, and trading opportunities to select investments, maintaining broad diversification across Ohio-based issuers with top holdings such as Lancaster Port Authority Ohio Gas Supply Revenue Bonds, Ohio State Higher Educational Facility Commission Revenue Bonds, Allen County Ohio Hospital Facilities Revenue Bonds, Akron Bath Copley Ohio Joint Township Hospital District Revenue Bonds, and American Municipal Power Ohio Inc. Revenue Bonds. It operates within the municipal bond sector targeting tax-sensitive investors seeking Ohio-specific tax exemptions, primarily individual and institutional investors in the United States, with total net assets of approximately $470.59 million. Launched on November 15, 1985, the fund is managed by Fidelity Management & Research Company LLC, a subsidiary of FMR LLC headquartered in Boston, Massachusetts, with a net expense ratio of 0.46% and no front-end or deferred loads. The fund is co-managed by Cormac Cullen (since May 2016), Elizah McLaughlin (since September 2018), and Michael Maka (since March 2020), all experienced Fidelity portfolio managers specializing in municipal bonds who also oversee other Fidelity municipal income strategies including intermediate, limited term, and defined maturity funds. In recent developments, the fund navigated market pressures from heavy new-issue municipal supply in 2024-2025 exceeding prior records, Federal Reserve rate cuts followed by resurgent inflation concerns, and Ohio's biennial budget approval featuring a 2.6% spending increase and income tax reduction to a flat 2.75% rate by fiscal year-end 2027; as of mid-2025, co-managers view municipal bonds as offering attractive risk/reward at elevated yield levels near 10-year peaks for longer maturities, with positioning adjusted for potential demand firming amid tax advantages.