Fidelity Flex Conservative Income Municipal Bond Fund (FUEMX) is a mutual fund that primarily invests in municipal bonds, which are issued by state and local governments to fund public projects. This fund aims to provide investors with a steady stream of income while also maintaining a conservative investment approach. It may also invest in other fixed-income securities, such as corporate bonds and mortgage-backed securities, to diversify its portfolio. FUEMX is managed by Fidelity Investments, a well-known and reputable financial services company.