Fidelity Michigan Municipal Income Fund

This fund typically dedicates a minimum of 80% of its capital to high-quality municipal bonds. A significant advantage is that the income derived from these investments is exempt from both federal and Michigan personal income taxes. Furthermore, it allocates more than 25% of its total holdings to municipal securities that support comparable types of projects. While the fund's strategy involves distributing capital across various market segments and bond maturities, it is classified as non-diversified.