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Morningstar

Strategic Advisers Income Opportunities FPIOX

Morningstar Medalist Rating
Medalist Rating as of | See Fidelity Investment Hub
  • NAV / 1-Day Return 8.57  /  +0.25 %
  • Total Assets 1.4 Bil
  • Adj. Expense Ratio
    0.570%
  • Expense Ratio 0.570%
  • Distribution Fee Level Below Average
  • Share Class Type No Load
  • Category High Yield Bond
  • Credit Quality / Interest Rate Sensitivity —
  • Min. Initial Investment —
  • Status Open
  • TTM Yield 6.23%
  • Effective Duration —

USD | NAV as of Jun 01, 2024 | 1-Day Return as of Jun 01, 2024, 12:15 AM GMT+0

Morningstar’s Analysis FPIOX

Will FPIOX outperform in future?

Get our overall rating based on a fundamental assessment of the pillars below.

  • Process Pillar

    The Process Pillar is our assessment of how sensible, clearly defined, and repeatable FPIOX’s performance objective and investment process is for both security selection and portfolio construction.

  • People Pillar

    The People Pillar is our evaluation of the FPIOX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.

  • Parent Pillar

    The Parent Pillar is our rating of FPIOX’s parent organization’s priorities and whether they’re in line with investors’ interests.

An upgrade in its Process Pillar rating is the primary driver of Strategic Advisers Income Opportunities's upgrade to a Morningstar Medalist Rating of Silver from Neutral.

null Morningstar Manager Research

Morningstar Manager Research

Summary

The portfolio maintains a cost advantage over competitors, priced within the second-lowest fee quintile among peers.

by Morningstar Manager Research
Rated on Published on

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Portfolio Holdings FPIOX

More FPIOX Holdings
  • Current Portfolio Date
  • Equity Holdings —
  • Bond Holdings —
  • Other Holdings —
  • % Assets in Top 10 Holdings 49.3
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

Artisan High Income Investor

13.67 193.5 Mil
—

Fidelity Capital & Income

10.38 147.0 Mil
—

BlackRock High Yield Bond K

7.90 111.8 Mil
—

Eaton Vance Income Fund of Boston A

6.92 98.0 Mil
—

MainStay MacKay High Yield Corp Bd A

6.36 90.0 Mil
—

Vanguard High-Yield Corporate Adm

2.73 38.6 Mil
—

State Street Instl US Govt MMkt Premier

0.73 10.3 Mil
Cash and Equivalents

ASURION TERM B4 2LN 01/20/29

0.41 5.9 Mil
Corporate

Calpine Corporation 5.125%

0.32 4.6 Mil
Corporate

Rivian Holdings Llc / Rivian Llc / Rivian Automotive Llc 11.4932%

0.31 4.4 Mil
Corporate