On Oct. 29, 2021, Fidelity Four-in-One Index will change its name to Fidelity Multi-Asset Index and transition to a new allocation scheme; its pillar ratings remain the same, but its Analyst Rating changes to Gold from Silver in light of its transformation. We've long admired the fund's low costs, stable asset mix, and broad diversification but didn't find it quite worthy of our top rating. While it held crucial core assets for a one-fund portfolio--the full U.S. stock universe split between two funds, non-U.S. developed-markets large-cap equities, and a standard set of investment-grade U.S. bonds--that was all it had. Many peers had expanded to emerging-markets stocks, lower-quality bonds, and so on.
Morningstar’s Fund Analysis FFNOX
Will FFNOX outperform in future?
Get our overall rating based on a fundamental assessment of the pillars below.
The Process Pillar is our assessment of how sensible, clearly defined, and repeatable FFNOX’s performance objective and investment process is for both security selection and portfolio construction.
The People Pillar is our evaluation of the FFNOX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.
The Parent Pillar is our rating of FFNOX’s parent organization’s priorities and whether they’re in line with investors’ interests.