Effective Feb. 28, 2024, Fidelity Limited Term Bond Fund and Fidelity Limited Term Bond ETF will modify their investment strategies to allow each fund the ability to invest up to 20% of assets in non-investment-grade securities from their current 5% limit. The funds' internal composite benchmark (80% Bloomberg US 1-5 Year Credit Bond Index and 20% Bloomberg US 1-5 Year Government Bond Index), which defines their neutral allocations, will be modified to add a 10% high-yield component and reduce the investment-grade credit stake to 70%. Increasing the high-yield credit guardrails gives this team more flexibility but could result in slightly higher volatility compared with its historical risk profile. In response, the team is adding Alexandre Karam as a comanager for each of the funds to oversee the high-yield sleeve. With more than a decade of experience, Karam joined Fidelity in 2016 and is currently a portfolio manager on the firm’s high-income division. This mandate change and additional named comanager do not alter our view; both funds retain their Above Average People and Process ratings.
Fidelity Advisor Limited Term Bond C FNBCX
- NAV / 1-Day Return 11.03 / −0.17 %
- Total Assets 2.1 Bil
-
Adj. Expense Ratio
- Expense Ratio 1.380%
- Distribution Fee Level Average
- Share Class Type Level Load
- Category Short-Term Bond
- Credit Quality / Interest Rate Sensitivity Medium/Limited
- Min. Initial Investment —
- Status Open
- TTM Yield 1.54%
- Effective Duration 2.51 years
USD | NAV as of Apr 25, 2024 | 1-Day Return as of Apr 25, 2024, 10:10 PM GMT+0
Morningstar’s Analysis FNBCX
Will FNBCX outperform in future?
Get our overall rating based on a fundamental assessment of the pillars below.
People Pillar
Parent Pillar
- Current Portfolio Date
- Equity Holdings —
- Bond Holdings —
- Other Holdings —
- % Assets in Top 10 Holdings 13.3
Top 10 Holdings
|
% Portfolio Weight
|
Market Value USD
|
Sector
|
---|---|---|---|
United States Treasury Notes 4.375% | 6.26 | 133.7 Mil | Government |
Fidelity Cash Central Fund | 1.85 | 39.6 Mil | Cash and Equivalents |
JPMorgan Chase & Co. 2.083% | 1.14 | 24.3 Mil | Corporate |
United States Treasury Notes 4.625% | 1.02 | 21.8 Mil | Government |
BPCE SA 1.652% | 0.87 | 18.7 Mil | Corporate |
Barclays PLC 2.852% | 0.85 | 18.2 Mil | Corporate |
Bank of America Corp. 1.319% | 0.71 | 15.1 Mil | Corporate |
MPLX LP 1.75% | 0.66 | 14.1 Mil | Corporate |
Volkswagen Group of America Finance LLC 1.25% | 0.66 | 14.0 Mil | Corporate |
B.A.T. International Finance PLC 1.668% | 0.65 | 14.0 Mil | Corporate |