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Morningstar

Fidelity High Income SPHIX

Morningstar Medalist Rating
Medalist Rating as of | See Fidelity Investment Hub
  • NAV / 1-Day Return 7.60  /  +0.28 %
  • Total Assets 2.7 Bil
  • Adj. Expense Ratio
    0.740%
  • Expense Ratio 0.870%
  • 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 5.51%
  • Effective Duration —

USD | NAV as of Apr 23, 2024 | 1-Day Return as of Apr 23, 2024, 10:17 PM GMT+0

Morningstar’s Analysis SPHIX

Will SPHIX 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 SPHIX’s performance objective and investment process is for both security selection and portfolio construction.

  • People Pillar

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

Change is afoot.

Senior Analyst Sam Kulahan

Sam Kulahan

Senior Analyst

Summary

Lead manager Michael Weaver’s abrupt retirement and in-progress changes to Fidelity High Income’s approach support a Morningstar Medalist Rating of Neutral for its cheapest share classes and Negative for its pricier shares.

by Sam Kulahan
Rated on Published on

Unlock our full analysis with Morningstar Investor

Portfolio Holdings SPHIX

More SPHIX Holdings
  • Current Portfolio Date
  • Equity Holdings —
  • Bond Holdings —
  • Other Holdings —
  • % Assets in Top 10 Holdings 8.3
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

Fidelity Direct Lending Fd (Unit)

1.78 47.4 Mil
—

Southeastern Grocers Inc Ordinary Shares

1.24 33.2 Mil
—

Fidelity Cash Central Fund

0.94 24.9 Mil
Cash and Equivalents

New Fortress Energy Inc. 6.5%

0.86 22.8 Mil
Corporate

Icahn Enterprises, L.P. / Icahn Enterprises Finance Corporation 5.25%

0.75 19.9 Mil
Corporate

TransDigm, Inc. 5.5%

0.75 19.9 Mil
Corporate

Mesquite Engy

0.64 17.2 Mil
—

Community Health Systems Incorporated 5.25%

0.61 16.3 Mil
Corporate

Rand Parent LLC 8.5%

0.55 14.7 Mil
Corporate

DISH Network Corporation 3.375%

0.55 14.6 Mil
Corporate