FSPXX Money Market — Fidelity California Municipal Money Market Fund

Fidelity California Municipal Money Market Fund (FSPXX)

Updated September 4, 2026.

FSPXX is a Money Market. its distribution rate is 2.35%, its trailing-12-month yield is 2.03%, its expense ratio is 0.30%. Total return is 0.0% over the past 33 years, 2898.4 points behind SPY at 2898.4%.

Fidelity California Municipal Money Market Fund is a money market fund that invests in high-quality, short-term California municipal securities to provide current income exempt from both federal and California state personal income taxes. The fund prioritizes liquidity and principal stability while seeking competitive returns, making it suitable for tax-conscious investors in California who want to park cash or build an emergency fund.

FSPXX performance versus SPY

Price and return data through 2026-09-04.

Total return is 0.0% over the past 33 years, 2898.4 points behind SPY at 2898.4%. Over the past year its total return — price change plus distributions reinvested — is 0.0%. Its deepest 1-year drawdown was 0.7%.

FSPXX key facts

Issuer

Fidelity Investments

Asset type

Money Market

Asset class

Fixed Income

Expense ratio

0.30%

Distribution rate

2.35%

Distribution frequency

Monthly

Trailing yield

2.03%

Last close

$1.00 (stale; as of 2026-09-04)

Average volume

0.0

Dividend

$0.00196

Ex-dividend date

09/30/2026

Payment date

10/01/2026

Beta

0.0108

How Dividend Vision calculates yield and returns

Distribution rate (2.35%) uses calculation basis unavailable. Issuer rates can use a different denominator and date, including ex-date NAV. Trailing-12-month yield (2.03%) is the sum of split-adjusted cash distributions with ex-dates in the last 12 months, divided by the published price. It lags a recent raise or cut. Total return uses split-adjusted close with distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date) from the first stored bar on or after inception through the latest bar, compared with the same window on the benchmark. That is the security's total return, not your personal gain/loss.

Yield and safety methodology · Distribution rate methodology · Distribution Safety Score methodology

Sources and review

Primary sources: Fidelity Investments or company page; prices and distributions from Dividend Vision, derived from vendor EOD data.

Reviewed by Bert Sweet, CEO and Co-owner of Dividend Vision. Methodology: Distribution Safety Score.

FSPXX risks and drawbacks

FSPXX's current distribution rate is moderate, not a high-yield payout — the strategy is dividend quality more than maximum income. Total return has trailed SPY over the available window. The deepest 1-year drawdown on record here is 0.7%.

Who may consider FSPXX — and who may not

FSPXX may suit someone looking for moderate current income with a quality tilt. It is a weaker fit for investors hunting double-digit covered-call yields; investors whose main goal is matching SPY total return. This is educational context, not a recommendation to buy or sell.

More on FSPXX

• All tickers starting with F

Tagged: Money Market, Cash, Tax Efficient.

Frequently asked questions

More securities from Fidelity Investments.