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Trending ETFs

Fidelity New Markets Income Fund

mutual fund
FGVMX
Payout Change
Pending
Price as of:
$12.53 +0.01 +0.08%
primary theme
Emerging Markets Bond
FGVMX (Mutual Fund)

Fidelity New Markets Income Fund

Payout Change
Pending
Price as of:
$12.53 +0.01 +0.08%
primary theme
Emerging Markets Bond
FGVMX (Mutual Fund)

Fidelity New Markets Income Fund

Payout Change
Pending
Price as of:
$12.53 +0.01 +0.08%
primary theme
Emerging Markets Bond

Name

As of 03/26/2024

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

$12.53

$4.19 B

4.50%

$0.56

1.07%

Vitals

YTD Return

2.1%

1 yr return

15.4%

3 Yr Avg Return

0.0%

5 Yr Avg Return

0.8%

Net Assets

$4.19 B

Holdings in Top 10

10.2%

52 WEEK LOW AND HIGH

$12.5
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.07%

SALES FEES

Front Load 4.00%

Deferred Load N/A

TRADING FEES

Turnover 30.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$0

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 03/26/2024

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

$12.53

$4.19 B

4.50%

$0.56

1.07%

FGVMX - Profile

Distributions

  • YTD Total Return 2.1%
  • 3 Yr Annualized Total Return 0.0%
  • 5 Yr Annualized Total Return 0.8%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 3.93%
DIVIDENDS
  • Dividend Yield 4.5%
  • Dividend Distribution Frequency None

Fund Details

  • Legal Name
    Fidelity New Markets Income Fund
  • Fund Family Name
    Fidelity Group of Funds
  • Inception Date
    Dec 07, 2018
  • Shares Outstanding
    N/A
  • Share Class
    A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Timothy Gill

Fund Description

Normally investing at least 80% of assets in securities of issuers in emerging markets and other investments that are tied economically to emerging markets. Emerging markets include countries that have an emerging stock market as defined by MSCI, countries or markets with low- to middle-income economies as classified by the World Bank, and other countries or markets that the Adviser identifies as having similar emerging markets characteristics. Investing up to 20% of the fund's net assets in securities 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 - to adjust the fund's risk exposure - as well as forward foreign currency exchange contracts for both hedging and non-hedging purposes.Normally investing primarily in debt securities of issuers in emerging markets.Potentially investing in other types of securities, including equity securities of emerging markets issuers, debt securities of non-emerging markets foreign issuers, and lower-quality debt securities (those of less than investment-grade quality, also referred to as high yield debt securities or junk bonds) of U.S. issuers.Allocating investments across different emerging markets countries.Analyzing a security's structural features and current pricing, trading opportunities, and the credit, currency, and economic risks of the security and its issuer to select investments.
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FGVMX - Performance

Return Ranking - Trailing

Period FGVMX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.1% -2.8% 93.3% 26.32%
1 Yr 15.4% -3.8% 112.3% 12.50%
3 Yr 0.0%* -13.6% 21.2% 23.21%
5 Yr 0.8%* -8.7% 12.8% 54.38%
10 Yr N/A* -5.2% 6.6% 28.36%

* Annualized

Return Ranking - Calendar

Period FGVMX Return Category Return Low Category Return High Rank in Category (%)
2023 7.9% -10.6% 17.8% 12.50%
2022 -19.2% -29.1% -2.4% 58.84%
2021 -5.6% -24.0% 2.7% 23.34%
2020 0.1% -14.0% 9.7% 63.67%
2019 5.6% -6.4% 13.0% 83.94%

Total Return Ranking - Trailing

Period FGVMX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.1% -2.8% 93.3% 26.32%
1 Yr 15.4% -3.8% 112.3% 12.50%
3 Yr 0.0%* -13.6% 21.2% 23.21%
5 Yr 0.8%* -8.7% 12.8% 54.38%
10 Yr N/A* -5.2% 6.6% 34.83%

* Annualized

Total Return Ranking - Calendar

Period FGVMX Return Category Return Low Category Return High Rank in Category (%)
2023 13.6% -0.6% 20.0% 21.05%
2022 -15.4% -27.6% -1.7% 66.33%
2021 -1.8% -18.5% 7.4% 26.48%
2020 4.6% -7.8% 18.0% 61.15%
2019 11.0% -3.0% 23.0% 85.77%

NAV & Total Return History


FGVMX - Holdings

Concentration Analysis

FGVMX Category Low Category High FGVMX % Rank
Net Assets 4.19 B 331 K 14.4 B 5.25%
Number of Holdings 414 4 1833 29.51%
Net Assets in Top 10 428 M -134 M 1.25 B 10.16%
Weighting of Top 10 10.22% 5.1% 101.4% 92.05%

Top 10 Holdings

  1. UNITED STATES TREASURY BOND 2.875% 05/15/2052 2.47%
  2. PETROLEOS MEXICANOS 6.625% 06/15/2035 1.18%
  3. PETROLEOS MEXICANOS 7.69% 01/23/2050 1.12%
  4. QATAR ST 4.817% 03/14/2049 144A 0.90%
  5. COLOMBIA REPUBLIC OF 3% 01/30/2030 0.79%
  6. SAUDI ARABIAN OIL COMPANY 3.5% 04/16/2029 144A 0.78%
  7. SOUTHERN GAS CORRIDOR CJSC 6.875% 03/24/2026 144A 0.76%
  8. OMAN SULTANATE 6.75% 01/17/2048 144A 0.75%
  9. EMIRATE OF ABU DHABI 3.125% 09/30/2049 144A 0.74%
  10. MEXICO UNITED MEXICAN STATES 6.05% 01/11/2040 0.73%

Asset Allocation

Weighting Return Low Return High FGVMX % Rank
Bonds
96.52% 0.91% 99.54% 31.48%
Cash
2.15% 0.00% 21.93% 76.39%
Preferred Stocks
1.28% 0.00% 1.28% 0.98%
Convertible Bonds
0.26% 0.00% 8.47% 49.01%
Other
0.05% -9.56% 88.17% 50.16%
Stocks
0.00% -0.01% 93.55% 33.77%

Stock Sector Breakdown

Weighting Return Low Return High FGVMX % Rank
Utilities
0.00% 0.00% 11.41% 15.46%
Technology
0.00% 0.00% 30.64% 11.34%
Real Estate
0.00% 0.00% 2.39% 12.37%
Industrials
0.00% 0.00% 100.00% 21.65%
Healthcare
0.00% 0.00% 12.25% 16.49%
Financial Services
0.00% 0.00% 100.00% 15.46%
Energy
0.00% 0.00% 100.00% 49.48%
Communication Services
0.00% 0.00% 8.92% 22.68%
Consumer Defense
0.00% 0.00% 24.66% 47.42%
Consumer Cyclical
0.00% 0.00% 100.00% 16.49%
Basic Materials
0.00% 0.00% 100.00% 46.39%

Stock Geographic Breakdown

Weighting Return Low Return High FGVMX % Rank
US
0.00% 0.00% 93.50% 26.56%
Non US
0.00% -0.01% 1.26% 32.13%

Bond Sector Breakdown

Weighting Return Low Return High FGVMX % Rank
Government
72.25% 0.00% 99.79% 30.13%
Corporate
19.66% 0.00% 93.26% 44.70%
Cash & Equivalents
0.42% 0.00% 23.23% 68.20%
Derivative
0.05% -2.00% 7.35% 37.05%
Securitized
0.00% 0.00% 2.41% 29.80%
Municipal
0.00% 0.00% 0.00% 18.21%

Bond Geographic Breakdown

Weighting Return Low Return High FGVMX % Rank
US
95.31% -42.31% 99.01% 17.70%
Non US
1.21% 0.00% 132.49% 80.00%

FGVMX - Expenses

Operational Fees

FGVMX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.07% 0.02% 35.56% 61.18%
Management Fee 0.79% 0.00% 1.10% 76.39%
12b-1 Fee 0.25% 0.00% 1.00% 23.57%
Administrative Fee N/A 0.02% 0.65% N/A

Sales Fees

FGVMX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 4.00% 0.75% 5.75% 49.02%
Deferred Load N/A 1.00% 4.00% N/A

Trading Fees

FGVMX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.75% 2.00% 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.

FGVMX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 30.00% 0.00% 218.00% 10.57%

FGVMX - Distributions

Dividend Yield Analysis

FGVMX Category Low Category High FGVMX % Rank
Dividend Yield 4.50% 0.00% 22.11% 64.26%

Dividend Distribution Analysis

FGVMX Category Low Category High Category Mod
Dividend Distribution Frequency None Quarterly Monthly Monthly

Net Income Ratio Analysis

FGVMX Category Low Category High FGVMX % Rank
Net Income Ratio 3.93% -2.28% 8.00% 58.72%

Capital Gain Distribution Analysis

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

Distributions History

View More +

FGVMX - Fund Manager Analysis

Managers

Timothy Gill


Start Date

Tenure

Tenure Rank

Jan 01, 2019

3.41

3.4%

Timothy Gill is a portfolio manager in the High Income and Alternatives division at Fidelity Investments. Fidelity Investments is a leading provider of investment management, retirement planning, portfolio guidance, brokerage, benefits outsourcing, and other financial products and services to institutions, financial intermediaries, and individuals. In this role, Mr. Gill co-manages Fidelity and Fidelity Advisor Global High Income Funds, Fidelity and Fidelity Advisor Total Emerging Markets Funds, Fidelity and Fidelity Advisor New Markets Income Funds, Fidelity and Fidelity Advisor Strategic Income Funds, Fidelity VIP Strategic Income Portfolio, Fidelity Series Emerging Markets Debt Fund, Fidelity Emerging Markets Debt Central Fund, and various institutional portfolios for U.S. and non-U.S. investors. Prior to assuming his current portfolio management responsibilities, Mr. Gill was an assistant portfolio manager and research analyst on the emerging markets debt team, where he covered a variety of sovereign credits. Additionally, he was also a trader within the High Income division covering emerging market sovereign debt. He has been in the financial industry since joining Fidelity in 2000 in the foreign trade operations group. Mr. Gill earned his bachelor of science degree in business administration from the University of Vermont. He is also a CFA charterholder and a member of CFA Society Boston.

Nader Nazmi


Start Date

Tenure

Tenure Rank

Sep 18, 2020

1.7

1.7%

Nader Nazmi is a research analyst in the High Income and Alternatives division at Fidelity Investments. Fidelity Investments is a leading provider of investment management, retirement planning, portfolio guidance, brokerage, benefits outsourcing, and other financial products and services to institutions, financial intermediaries, and individuals. In this role, Mr. Nazmi is responsible for sovereign debt research covering Brazil, Mexico, Argentina, and 18 other Latin American countries that the Emerging Markets Debt team invests in. Prior to joining Fidelity, Mr. Nazmi was managing director, sovereign analyst, and macro strategist on the Emerging Markets Debt team at Wellington Management. Additionally, he has had an extensive career in the financial industry, including positions at: BNP Paribas as director and economist for Latin America, Capital Markets group; Institute of International Finance as deputy director and senior economist, Latin America department; Bank One as director of economic research, Latin America, Banc One Capital Markets; and Central Bank of Ecuador as an international advisor in the research department. Mr. Nazmi has also held several positions in academia, including: senior fellow and visiting professor in the Center for Latin America Studies at Georgetown University; Hollender professor and chairperson of the economics department at Lake Forest College; visiting scholar at the Center for Research on Economic Development at the University of Michigan; and Fulbright Scholar at the University of Sao Paulo. He has been in the financial industry since 1998. Mr. Nazmi earned his bachelor of science degree in economics, summa cum laude, Phi Beta Kappa, from Iowa State University, and both his master's and doctorate degrees in economics from the University of Illinois. He also holds the Financial Industry Regulatory Authority (FINRA) Series 2, 7, 24, and 65 licenses. Additionally, his extensive research in economics and international finance have been published in academic journals, editorial contributions, and a book.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 23.87 6.38 6.11