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Fidelity Floating Rate High Income Fund Series B

Floating Rate Loan

FundGrade B Click for more information on Fundata’s FundGrade

FundGrade B

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FundGrade A+® Rating Recipient

FundGrade A+® Rating Recipient

2023, 2016

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NAVPS
(07-18-2024)
$12.10
Change
$0.02 (0.21%)

As at June 30, 2024

As at March 31, 2024

Period
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Legend

Fidelity Floating Rate High Income Fund Series B

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Fund Returns

Inception Return (October 16, 2013): 6.02%

Fund Returns
Row Heading Return Annualized Return
1 Mth 3 Mth 6 Mth YTD 1 Yr 2 Yr 3 Yr 4 Yr 5 Yr 6 Yr 7 Yr 8 Yr 9 Yr 10 Yr
Fund 0.48% 2.30% 6.82% 6.82% 12.44% 12.91% 8.41% 6.37% 4.96% 4.54% 4.49% 4.70% 4.60% 5.85%
Benchmark -0.30% 2.13% 5.33% 5.33% 13.25% 16.55% 6.25% 6.37% 4.73% 4.21% 3.99% 4.77% 4.74% 4.59%
Category Average 0.27% 3.15% 3.15% 3.15% 8.13% 7.37% 3.21% 4.80% 2.76% 2.82% 2.96% 3.44% 2.95% 3.11%
Category Rank 15 / 78 8 / 78 8 / 78 8 / 78 9 / 77 8 / 77 6 / 76 21 / 76 16 / 71 16 / 68 16 / 68 15 / 57 14 / 55 6 / 43
Quartile Ranking 1 1 1 1 1 1 1 2 1 1 1 2 2 1

Monthly Return

Monthly Return
Return % Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun
Fund 0.54% 3.57% 1.14% 1.91% -0.94% -0.97% 2.01% 1.82% 0.53% 2.14% -0.33% 0.48%
Benchmark 1.38% 2.55% -1.17% 2.29% 2.51% -0.20% 1.33% 1.50% 0.28% 0.84% 1.58% -0.30%

Best Monthly Return Since Inception

9.60% (January 2015)

Worst Monthly Return Since Inception

-7.94% (March 2020)

Calendar Return (%)

Calendar Return
Return % 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Fund 9.24% 18.10% 5.02% -3.70% 7.70% 1.88% -1.24% 3.67% 5.80% 8.86%
Benchmark 1.85% 11.20% 4.59% 6.15% 2.81% 1.22% 5.27% -0.97% -0.86% 14.42%
Category Average 3.44% -0.88% 8.41% 4.02% 0.32% 6.37% -0.22% 4.16% -4.30% 9.97%
Quartile Ranking 1 1 4 4 1 4 4 3 1 4
Category Rank 7/ 31 6/ 55 51/ 56 57/ 59 6/ 68 69/ 70 62/ 76 53/ 76 3/ 76 65/ 77

Best Calendar Return (Last 10 years)

18.10% (2015)

Worst Calendar Return (Last 10 years)

-3.70% (2017)

Asset Allocation

Asset Allocation
Name Percent
Foreign Corporate Bonds 89.53
Cash and Equivalents 7.27
Canadian Corporate Bonds 1.70
US Equity 1.15
International Equity 0.16
Other 0.19

Sector Allocation

Sector Allocation
Name Percent
Fixed Income 91.38
Cash and Cash Equivalent 7.27
Energy 0.75
Technology 0.04
Other 0.56

Geographic Allocation

Geographic Allocation
Name Percent
North America 95.16
Europe 4.07
Latin America 0.54
Asia 0.04
Other 0.19

Top Holdings

Top Holdings
Name Percent
Fidelity U.S. Money Market Investment Trust O -
GREAT OUTDOORS TM B2 1LN 9.19% 05-Mar-2028 -
GOLDEN NUGGET TM B 1LN 9.08% 27-Jan-2029 -
SOLERA TERM B 1LN 9.57% 02-Jun-2028 -
UKG TERM B 1LN 8.81% 10-Feb-2031 -
AUTHENTIC BRND TM B1 1LN 8.93% 21-Dec-2028 -
PERATON TERM B 1LN 9.18% 01-Feb-2028 -
INTERNET BRANDS TM B 1LN 9.58% 03-May-2028 -
SFR TERM B14 1LN 10.81% 15-Aug-2028 -
ELDORADO RES TM B 1LN 8.66% 26-Jan-2030 -

Equity Style

Equity style data not available

Fixed Income Style

Fixed income style data not available
Period: 

Risk vs Return (3 Yr)

Fidelity Floating Rate High Income Fund Series B

Median

Other - Floating Rate Loan

3 Yr Annualized

Standard Deviation 5.72% 6.67% 7.48%
Beta 0.22% 0.44% 0.60%
Alpha 0.07% 0.03% 0.03%
Rsquared 0.08% 0.31% 0.36%
Sharpe 0.92% 0.45% 0.60%
Sortino 1.64% 0.43% 0.62%
Treynor 0.23% 0.07% 0.08%
Tax Efficiency 73.78% 63.10% -
Volatility Volatility rating is 2 on a scale of 1 to 10 Volatility rating is 2 on a scale of 1 to 10 Volatility rating is 3 on a scale of 1 to 10

Risk Rating

Rating 2 out of ten

Annualized Key Ratio Period Comparison

Key Ratio
Key Ratio 1 Yr 3 Yr 5 Yr 10 Yr
Standard Deviation 4.74% 5.72% 6.67% 7.48%
Beta 0.32% 0.22% 0.44% 0.60%
Alpha 0.08% 0.07% 0.03% 0.03%
Rsquared 0.08% 0.08% 0.31% 0.36%
Sharpe 1.48% 0.92% 0.45% 0.60%
Sortino 4.93% 1.64% 0.43% 0.62%
Treynor 0.22% 0.23% 0.07% 0.08%
Tax Efficiency 75.15% 73.78% 63.10% -

Fund Details

Start Date October 16, 2013
Instrument Type Mutual Fund
Share Class Commission Based Advice
Legal Status Trust
Sales Status Open
Currency CAD
Distribution Frequency Monthly
Assets ($mil) $111

Fund Codes

FundServ Code Load Code Sales Status
FID2187

Investment Objectives

The Fund aims to provide a steady flow of income. It invests primarily in floating rate debt instruments and other floating rate securities of issuers located in the United States or that are denominated in U.S. dollars.

Investment Strategy

To meet the Fund’s objectives, the portfolio management team: Invests primarily in floating rate debt instruments, which generally pay interest at rates that are variable or reset periodically at a margin above a generally recognized base lending rate, such as the prime rate, the London Interbank Offered Rate (LIBOR), the Secured Overnight Financing Rate (SOFR) or another generally recognized base lending rate used by commercial banks and lenders.

Portfolio Manager(s)

Name Start Date
Fidelity Investments Canada ULC 10-16-2013
Fidelity Management & Research Company LLC 02-06-2023

Management and Organization

Fund Manager Fidelity Investments Canada ULC
Advisor Fidelity Investments Canada ULC
Custodian State Street Trust Company Canada
Registrar Fidelity Investments Canada ULC
Distributor -
Auditor PriceWaterhouseCoopers LLP

Investment Minimums

RSP Eligible Yes
PAC Allowed Yes
PAC Initial Investment 25
PAC Subsequent 25
SWP Allowed Yes
SWP Min Balance 10,000
SWP Min Withdrawal 100

Fees

MER 1.48%
Management Fee 1.20%
Load Back Fee Only
FE Max 5.00%
DSC Max -
Trailer Fee Max (FE) 0.50%
Trailer Fee Max (DSC) -
Trailer Fee Max (NL) -
Trailer Fee Max (LL) -

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