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Morningstar

Fidelity® High Income SPHIX

Morningstar Medalist Rating
Medalist Rating as of | See Fidelity Investment Hub
  • NAV / 1-Day Return 7.47  /  0.02 %
  • Total Assets 2.6 Bil
  • Adj. Expense Ratio
    0.740%
  • Expense Ratio 0.870%
  • Distribution Fee Level Average
  • Share Class Type No Load
  • Category High Yield Bond
  • Credit Quality / Interest Rate Sensitivity —
  • Min. Initial Investment —
  • Status Open
  • TTM Yield 5.53%
  • Effective Duration —

USD | NAV as of Dec 07, 2023 | 1-Day Return as of Dec 07, 2023, 11:22 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 10
  • Bond Holdings 677
  • Other Holdings 21
  • % Assets in Top 10 Holdings 9.6
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

Fidelity Direct Lending Fd (Unit)

1.79
47,387,674
—

Fidelity® Cash Central Fund

1.45
38,164,706
Cash and Equivalents

Southeastern Grocers Inc Ordinary Shares

1.25
33,019,649
—

New Fortress Energy Inc. 6.5%

1.12
29,454,226
Corporate

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

1.03
27,114,750
Corporate

Uniti Group LP/Uniti Fiber Holdings Inc/Uniti Group Finance 2019 Inc/CSL Ca

0.84
22,151,238
Corporate

Crestwood Midstream Partners LP / Crestwood Midstream Finance Corp. 5.625%

0.81
21,467,068
Corporate

Cash Offsets For Shorts & Derivatives

0.74
19,587,280
Cash and Equivalents

TransDigm, Inc. 5.5%

0.73
19,145,625
Corporate

GEMS MENASA (Cayman) Limited & GEMS Education (Delaware) LLC 7.125%

0.70
18,462,784
Corporate