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Trending ETFs

Fidelity Sustainable Low Duration Bond Fund

mutual fund
FANDX
Payout Change
Pending
Price as of:
$10.36 +0.0 +0.0%
primary theme
U.S. Ultrashort Bond Duration
FANDX (Mutual Fund)

Fidelity Sustainable Low Duration Bond Fund

Payout Change
Pending
Price as of:
$10.36 +0.0 +0.0%
primary theme
U.S. Ultrashort Bond Duration
FANDX (Mutual Fund)

Fidelity Sustainable Low Duration Bond Fund

Payout Change
Pending
Price as of:
$10.36 +0.0 +0.0%
primary theme
U.S. Ultrashort Bond Duration

Name

As of 12/09/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$10.36

$26.3 M

1.60%

$0.17

1.28%

Vitals

YTD Return

4.2%

1 yr return

4.5%

3 Yr Avg Return

N/A

5 Yr Avg Return

N/A

Net Assets

$26.3 M

Holdings in Top 10

33.2%

52 WEEK LOW AND HIGH

$10.4
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.28%

SALES FEES

Front Load N/A

Deferred Load 1.00%

TRADING FEES

Turnover N/A

Redemption Fee N/A


Min Investment

Standard (Taxable)

$0

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 12/09/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$10.36

$26.3 M

1.60%

$0.17

1.28%

FANDX - Profile

Distributions

  • YTD Total Return 4.2%
  • 3 Yr Annualized Total Return N/A
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio N/A
DIVIDENDS
  • Dividend Yield 1.6%
  • Dividend Distribution Frequency None

Fund Details

  • Legal Name
    Fidelity Sustainable Low Duration Bond Fund
  • Fund Family Name
    Fidelity Group of Funds
  • Inception Date
    Apr 28, 2022
  • Shares Outstanding
    N/A
  • Share Class
    C
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Robert Galusza

Fund Description

Normally investing at least 80% of assets in investment-grade debt securities (those of medium and high quality) of all types that Fidelity Management & Research Company LLC (FMR) (the Adviser) believes have positive environmental, social and governance (ESG) characteristics and repurchase agreements for those securities. Evaluating each security in which the fund invests using both a traditional bond credit, structure and relative value analysis and a consideration of the Adviser's judgment about the security's ESG characteristics. When assessing a security's ESG characteristics and its eligibility for purchase, the Adviser considers the following, where available: (i) the sustainability practices of the security's issuer or sponsor, as applicable (each, an "issuer"), based on an evaluation of such issuer's individual ESG profile; (ii) ESG factors related to the security's underlying pool of assets; and (iii) any third-party designation as a green, sustainable or sustainability-linked bond. A security's positive ESG characteristics can be determined under any of those three factors. Using the Adviser's proprietary ESG ratings process to evaluate the current state of an issuer's sustainability practices using a data-driven framework that includes both proprietary and third-party data, and also provide a qualitative forward-looking assessment of an issuer's sustainability outlook provided by the Adviser's fundamental research analysts and ESG team. The Adviser's ESG ratings of issuers are derived from multiple factors, including an issuer's environmental profile, which may include, but is not limited to, carbon and toxic emissions, water management, waste management, vulnerability to the physical impacts of climate change, and research and investment into products, services, and energies that reduce emissions and/or provide opportunities to transition to less carbon-intensive products or operations. An assessment of an issuer's social profile includes, but is not limited to, its approach to diversity and inclusion, human capital management, data privacy, product safety and human rights. With respect to governance, the independence and diversity of an issuer's board, its compensation practices and board oversight of critical ESG issues are considered as part of the assessment. These factors are weighted based on how material the Adviser believes each factor is to an issuer's financial outlook, and not all factors may be applicable to all issuers. Issuers with an above average ESG rating as determined by the Adviser are considered to have positive ESG characteristics and well-managed ESG risks. Investing in debt securities of issuers that the Adviser believes deliver tangible environmental or social impact through core business operations. An assessment of the impact characteristics of an issuer may involve corporate engagement and an analysis of issuer alignment with the United Nations Sustainable Development Goals using qualitative analysis as well as proprietary or third-party data. For example, issuers that provide access to clean water, education, or clean energy through their core business may be considered to deliver tangible impact. When evaluating securitized debt securities (including mortgage-backed securities, commercial mortgage-backed securities, and other asset-backed securities), generally considering the issuer's ESG rating along with ESG factors related to the underlying pool of assets, such as energy efficiency and environmental impact of the underlying assets; providing access to affordable housing or opportunities for first time home ownership; and compliance with fair lending laws. In addition to its focus on debt securities with positive ESG characteristics, analyzing the credit quality of the issuer, security-specific features, current and potential future valuation, and trading opportunities to select investments. Normally maintaining a duration of 1 year or less. Managing the fund to have similar overall interest rate risk to the Bloomberg US Treasury Bill: 6-9 Months Index. Normally maintaining a dollar-weighted average maturity of two years or less. Allocating assets across different market sectors and maturities. Investing more than 25% of total assets in the financial services industries. Investing in domestic and foreign issuers. Engaging in transactions that have a leveraging effect on the fund, including investments in derivatives - such as swaps (interest rate, total return, and credit default), options, and futures contracts - and forward-settling securities, to adjust the fund's risk exposure. Employing sustainable investing exclusion criteria to avoid investments in issuers that are directly engaged in, and/or derive significant revenue from, certain industries. Please see "Fund Basics - Investment Details - Sustainable Investing Exclusions" for additional information.
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FANDX - Performance

Return Ranking - Trailing

Period FANDX Return Category Return Low Category Return High Rank in Category (%)
YTD 4.2% 0.3% 8.6% 96.23%
1 Yr 4.5% 1.3% 9.3% 96.70%
3 Yr N/A* -0.9% 7.1% N/A
5 Yr N/A* -0.8% 4.4% N/A
10 Yr N/A* -4.1% 27.9% N/A

* Annualized

Return Ranking - Calendar

Period FANDX Return Category Return Low Category Return High Rank in Category (%)
2023 1.7% -2.3% 4.3% 28.77%
2022 N/A -6.5% 0.5% N/A
2021 N/A -2.1% 0.3% N/A
2020 N/A -3.1% 1.8% N/A
2019 N/A -1.2% 6.1% N/A

Total Return Ranking - Trailing

Period FANDX Return Category Return Low Category Return High Rank in Category (%)
YTD 4.2% 0.3% 8.6% 96.23%
1 Yr 4.5% 1.3% 9.3% 96.70%
3 Yr N/A* -0.9% 7.1% N/A
5 Yr N/A* -0.8% 4.4% N/A
10 Yr N/A* -4.1% 27.9% N/A

* Annualized

Total Return Ranking - Calendar

Period FANDX Return Category Return Low Category Return High Rank in Category (%)
2023 4.1% 0.8% 12.1% 95.28%
2022 N/A -5.1% 2.5% N/A
2021 N/A -2.1% 14.5% N/A
2020 N/A -1.0% 3.6% N/A
2019 N/A 0.3% 9.6% N/A

NAV & Total Return History


FANDX - Holdings

Concentration Analysis

FANDX Category Low Category High FANDX % Rank
Net Assets 26.3 M 26.6 K 22.6 B 94.34%
Number of Holdings 267 2 1258 50.94%
Net Assets in Top 10 9.77 M 27.7 K 22.7 B 92.92%
Weighting of Top 10 33.24% 6.3% 159.6% 28.30%

Top 10 Holdings

  1. UST BILLS 0% 01/02/2025 9.50%
  2. UST BILLS 0% 10/03/2024 7.79%
  3. UST BILLS 0% 09/05/2024 4.22%
  4. Fidelity Cash Central Fund 3.37%
  5. UST BILLS 0% 11/29/2024 2.65%
  6. UST BILLS 0% 09/12/2024 1.70%
  7. MORGAN STANLEY 0.791%/VAR 01/22/2025 1.62%
  8. CITIBANK NA 5.438% 04/30/2026 0.86%
  9. RABOBANK NEDERLAND NY BRH 4.333% 08/28/2026 0.85%
  10. CATERPILLAR FINL SVCS CORP FRN SOFR+27 09/13/2024 0.68%

Asset Allocation

Weighting Return Low Return High FANDX % Rank
Bonds
96.00% 0.00% 129.63% 20.28%
Convertible Bonds
10.46% 0.00% 15.25% 4.27%
Cash
4.00% 0.00% 112.72% 56.60%
Stocks
0.00% 0.00% 97.16% 20.28%
Preferred Stocks
0.00% 0.00% 1.02% 3.77%
Other
0.00% -13.48% 99.96% 74.53%

Bond Sector Breakdown

Weighting Return Low Return High FANDX % Rank
Corporate
70.34% 0.00% 99.91% 5.21%
Government
12.01% 0.00% 100.00% 24.17%
Cash & Equivalents
3.37% 0.00% 112.72% 63.68%
Securitized
1.20% 0.00% 100.00% 76.30%
Derivative
0.00% -13.48% 16.56% 22.64%
Municipal
0.00% 0.00% 70.39% 45.50%

Bond Geographic Breakdown

Weighting Return Low Return High FANDX % Rank
US
96.00% 0.00% 129.63% 16.98%
Non US
0.00% 0.00% 20.18% 16.04%

FANDX - Expenses

Operational Fees

FANDX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.28% 0.08% 29.63% 6.70%
Management Fee 0.20% 0.00% 1.19% 21.70%
12b-1 Fee 1.00% 0.00% 1.00% 96.34%
Administrative Fee N/A 0.01% 0.40% N/A

Sales Fees

FANDX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 1.50% 5.75% N/A
Deferred Load 1.00% 0.25% 1.00% 7.14%

Trading Fees

FANDX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.00% 1.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

FANDX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 0.00% 336.00% N/A

FANDX - Distributions

Dividend Yield Analysis

FANDX Category Low Category High FANDX % Rank
Dividend Yield 1.60% 0.00% 8.76% 97.17%

Dividend Distribution Analysis

FANDX Category Low Category High Category Mod
Dividend Distribution Frequency None Monthly Monthly Monthly

Net Income Ratio Analysis

FANDX Category Low Category High FANDX % Rank
Net Income Ratio N/A -1.30% 14.86% N/A

Capital Gain Distribution Analysis

FANDX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually

Distributions History

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FANDX - Fund Manager Analysis

Managers

Robert Galusza


Start Date

Tenure

Tenure Rank

Apr 13, 2022

0.13

0.1%

Rob Galusza is a portfolio manager in the Fixed Income division at Fidelity Management & Research Company (FMR Co.), the investment advisor for Fidelity’s family of mutual funds. Fidelity Investments is a leading provider of investment management, retirement planning, portfolio guidance, brokerage, benefits outsourcing and other financial products and services to more than 20 million individuals, institutions and financial intermediaries. Before joining Fidelity in 1987, Mr. Galusza was an international underwriter at Chubb and Son Inc. In this capacity, he performed risk analysis on international corporations. He has been in the insu rance and investments industries since 1985. Mr. Galusza earned his bachelor of science degree in finance, with concentrations in investments and marketing, from Babson College and his master of science in finance degree from Boston College’s Carroll School of Management.

David DeBiase


Start Date

Tenure

Tenure Rank

Apr 13, 2022

0.13

0.1%

Dave DeBiase is a portfolio manager in the Fixed Income division at Fidelity Management & Research Company (FMR Co.), the investment advisor for Fidelity’s family of mutual funds. Fidelity Investments is a leading provider of investment management, retirement planning, portfolio guidance, brokerage, benefits outsourcing and other financial products and services to more than 20 million individuals, institutions and financial intermediaries. Since joining Fidelity Investments in 2006, Mr. DeBiase has worked as a trader and portfolio manager. Before joining Fidelity in 2006, he worked as a senior structured products analyst at Standish Mellon Asset Management. He has been in the investment industry since 2000. Mr. DeBiase earned his bachelor of business science degree in accounting from Bentley College and his master of business administration degree from Boston College. He is also a CFA charterholder and a board member of the Hamilton Wenham Edfund, which provides grants to promote educational excellence within the Hamilton Wenham school district.

Julian Potenza


Start Date

Tenure

Tenure Rank

Apr 13, 2022

0.13

0.1%

Julian Potenza is a portfolio manager in the Fixed Income division at Fidelity Management & Research Company (FMR Co.), the investment advisor for Fidelity’s family of mutual funds. Fidelity Investments is a leading provider of investment management, retirement planning, portfolio guidance, brokerage, benefits outsourcing and other financial products and services to more than 20 million individuals, institutions and financial intermediaries. Prior to joining Fidelity in 2007, Mr. Potenza was a credit analyst at Investors Bank and Trust. He has been in the investment industry since 2003. Mr. Potenza earned his bachelor of science degree in finance and economics from the Carroll School of Management at Boston College. He is also a CFA charterholder.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 32.44 6.52 7.92