Fidelity Ohio Municipal Money Market Fund
FOMXX
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- Fidelity Ohio Municipal Money Market Fund (FOMXX), a series of Fidelity Municipal Trust II, is a tax-exempt money market mutual fund that seeks as high a level of current income exempt from federal income tax and Ohio personal income tax as is consistent with liquidity and stability of principal. The fund invests primarily in short-term, high-quality municipal securities, including variable rate demand notes, tender option bonds, municipal commercial paper, and other obligations issued by or on behalf of states, territories, and possessions of the United States, as well as their political subdivisions such as counties, cities, and school districts; these securities typically mature in 397 days or less and are rated in the highest short-term category by at least two nationally recognized statistical rating organizations or, if unrated, deemed comparable by Fidelity Management & Research Company LLC. It operates within the municipal money market segment, targeting Ohio residents and tax-sensitive investors seeking stable principal preservation alongside tax-advantaged yields; the fund maintains a stable $1.00 net asset value and is available through Fidelity's brokerage and retirement platforms nationwide. Fidelity Ohio Municipal Money Market Fund was part of Fidelity Municipal Trust II, headquartered in Boston, Massachusetts, where parent Fidelity Investments was founded in 1946. Geographically, the fund focuses investments on Ohio municipal obligations while serving investors across the United States. In recent years, Fidelity proposed merging the fund, along with Fidelity Michigan Municipal Money Market Fund and Fidelity Pennsylvania Municipal Money Market Fund, into Fidelity Municipal Money Market Fund (FTEXX), but shareholders did not approve the transactions, allowing FOMXX to continue as a standalone offering. As of late 2025, the fund remains active with ongoing portfolio management emphasizing compliance with SEC Rule 2a-7 for money market funds, amid broader Fidelity efforts to optimize its municipal money market lineup without further confirmed mergers, acquisitions, or major strategic shifts specific to FOMXX. No new product launches, partnerships, or funding rounds were reported for the fund in 2024-2025.