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Hunting for Yield? Target These 3 Municipal Bond Funds

Investors' rush to bail munibonds is creating some values

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Fidelity Intermediate Municipal Income

Fidelity mutual funds 401(k)SEC Yield: 2.2%

Fidelity Intermediate Municipal Income (FLTMX) is also a worthy choice, featuring a bias toward high-quality bonds, with most of its bonds rated either A or AA in quality. Average maturity is 5.7 years, with duration currently 5.6 years.

Fidelity has greatly expanded into fixed-income products over the past few years, and this municipal bond fund is evidence of that. FLTMX is down 1.8% YTD, but has returned a solid 3.9% over the last 10 years.

FLTMX has a higher minimum than the two Vanguard funds, at $10,000, and its expense ratio is slightly higher, too, at 0.37%.

As of this writing, Bill Wysor was long VWAHX.

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