I don't think so. IM fellowships are not that competetive from what I've heard, except for maybe cards and gastro in prime locations. If you are a US grad, you should have no problem at all. I interviewed at a few community programs for prelim medicine spots and they said that virutally everyone who wanted fellowships go them. Obviously, there are good community programs and poor community programs and this would have something to do with it. I think that the community programs I interviewed at were considered to be pretty good ones?