Morningstar

Fidelity Advisor Mortgage Securities Fund - Class I FMSCX

Morningstar Medalist Rating
Medalist Rating as of | See Fidelity Investment Hub
  • NAV / 1-Day Return 9.44  /  +0.43 %
  • Total Assets 688.5M
  • Adj. Expense Ratio
    0.600%
  • Expense Ratio 0.600%
  • Distribution Fee Level Above Average
  • Share Class Type Institutional
  • Category Government Mortgage-Backed Bond
  • Credit Quality / Interest Rate Sensitivity —
  • Min. Initial Investment 0
  • Status Open
  • TTM Yield 4.01%
  • Effective Duration 5.29 years

USD | NAV as of Oct 02, 2026 | 1-Day Return as of Oct 02, 2026, 12:11 AM GMT+0

Morningstar’s Analysis FMSCX

Will FMSCX outperform in the 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 FMSCX’s performance objective and investment process is for both security selection and portfolio construction.

  • People Pillar

    The People Pillar is our evaluation of the FMSCX 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 FMSCX’s parent organization’s priorities and whether they’re in line with investors’ interests.

A compelling diversified mortgage offering.

Senior Analyst Max Curtin

Max Curtin

Senior Analyst

Summary

Fidelity Mortgage Securities’ combination of experienced structured product investors and strong quantitative capabilities continue to inspire confidence.

by Max Curtin
Rated on Published on

Unlock our full analysis with Morningstar Investor

Portfolio Holdings FMSCX

More FMSCX Holdings
  • Current Portfolio Date
  • Equity Holdings —
  • Bond Holdings —
  • Other Holdings —
  • % Assets in Top 10 Holdings 21.4
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

Federal National Mortgage Association 2%

4.80 37M
Securitized

Government National Mortgage Association 5.5%

4.48 35M
Securitized

Federal National Mortgage Association 2%

2.67 21M
Securitized

Fidelity Cash Central Fund

2.28 18M
Cash and Equivalents

Government National Mortgage Association 6%

1.76 14M
Securitized

Government National Mortgage Association 5.5%

1.56 12M
Securitized

Federal Home Loan Mortgage Corp. 5%

1.48 11M
Securitized

Government National Mortgage Association 5%

1.25 10M
Securitized

United States Treasury Notes 3.5%

1.24 10M
Government

Federal Home Loan Mortgage Corp. 3.5%

1.09 8M
Securitized

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