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Fidelity American High Yield Currency Neutral Fund Series B

High Yield Fixed Income

FundGrade C Click for more information on Fundata’s FundGrade

FundGrade C

Click for more information on Fundata’s FundGrade.

NAVPS
(04-22-2024)
$7.91
Change
$0.01 (0.17%)

As at March 31, 2024

As at December 31, 2023

Period
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Legend

Fidelity American High Yield Currency Neutral Fund Series B

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Fund Returns

Inception Return (November 06, 2006): 4.47%

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 1.22% 1.80% 7.38% 1.80% 8.74% 2.46% 2.17% 6.60% 2.83% 2.89% 2.85% 3.96% 2.91% 2.92%
Benchmark 0.83% 4.14% 9.32% 4.14% 11.08% 7.29% 2.94% 4.89% 3.41% 3.99% 3.87% 5.46% 5.00% 5.66%
Category Average 1.04% 7.26% 7.26% 1.57% 7.54% 1.83% 0.64% 4.84% 2.38% 2.44% 2.46% 3.43% 2.65% 2.59%
Category Rank 57 / 300 138 / 300 168 / 298 138 / 300 114 / 294 127 / 288 75 / 281 79 / 274 131 / 266 117 / 242 108 / 229 106 / 201 106 / 190 98 / 173
Quartile Ranking 1 2 3 2 2 2 2 2 2 2 2 3 3 3

Monthly Return

Monthly Return
Return % Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar
Fund 0.83% -1.50% 1.60% 1.42% 0.06% -1.10% -1.57% 3.77% 3.27% 0.18% 0.40% 1.22%
Benchmark 1.23% -1.13% -0.73% 1.08% 2.51% -1.32% 1.59% 2.42% 0.89% 1.39% 1.87% 0.83%

Best Monthly Return Since Inception

8.25% (April 2009)

Worst Monthly Return Since Inception

-15.17% (October 2008)

Calendar Return (%)

Calendar Return
Return % 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Fund 2.79% -3.47% 11.00% 5.87% -4.54% 12.40% 0.59% 7.41% -9.62% 10.10%
Benchmark 8.91% 14.93% 10.80% 2.96% 5.36% 7.98% 6.14% 0.50% -6.92% 10.36%
Category Average 2.69% -2.71% 9.58% 5.34% -2.63% 9.49% 5.35% 3.21% -10.00% 8.59%
Quartile Ranking 3 3 3 2 4 1 4 1 2 2
Category Rank 109/ 172 100/ 183 133/ 200 63/ 228 195/ 240 48/ 265 233/ 273 34/ 275 136/ 285 101/ 294

Best Calendar Return (Last 10 years)

12.40% (2019)

Worst Calendar Return (Last 10 years)

-9.62% (2022)

Asset Allocation

Asset Allocation
Name Percent
Cash and Equivalents 47.91
Foreign Corporate Bonds 47.11
US Equity 4.34
Foreign Government Bonds 0.45
International Equity 0.18
Other 0.01

Sector Allocation

Sector Allocation
Name Percent
Cash and Cash Equivalent 47.91
Fixed Income 47.57
Energy 1.47
Financial Services 0.90
Utilities 0.35
Other 1.80

Geographic Allocation

Geographic Allocation
Name Percent
North America 98.55
Europe 1.21
Latin America 0.31
Other -0.07

Top Holdings

Top Holdings
Name Percent
Fidelity U.S. Money Market Investment Trust O -
CAD 1/4/2024 FORWARD CC -
Dish Network Corp 2.38% 15-Mar-2024 -
C&W Senior Financing DAC 6.88% 01-Feb-2024 -
Uber Technologies Inc 4.50% 15-Aug-2024 -
Pacific Gas and Electric Co 4.55% 01-Jan-2030 -
Pacific Gas and Electric Co 4.95% 01-Jan-2050 -
CHARLES SCHWAB 5.38% 31-Dec-2199 -
TransDigm Inc 6.75% 15-Feb-2025 -
Caesars Entertainment Inc 7.00% 15-Feb-2026 -

Equity Style

Equity style data not available

Fixed Income Style

Average Duration: S. Average Credit Quality: L.
Period: 

Risk vs Return (3 Yr)

Fidelity American High Yield Currency Neutral Fund Series B

Median

Other - High Yield Fixed Income

3 Yr Annualized

Standard Deviation 7.79% 9.37% 7.54%
Beta 0.75% 1.00% 0.57%
Alpha 0.00% 0.00% 0.00%
Rsquared 0.45% 0.58% 0.28%
Sharpe -0.02% 0.14% 0.24%
Sortino -0.09% 0.03% 0.03%
Treynor 0.00% 0.01% 0.03%
Tax Efficiency 13.89% 38.06% 39.50%
Volatility Volatility rating is 3 on a scale of 1 to 10 Volatility rating is 3 on a scale of 1 to 10 Volatility rating is 3 on a scale of 1 to 10

Risk Rating

Rating 3 out of ten

Annualized Key Ratio Period Comparison

Key Ratio
Key Ratio 1 Yr 3 Yr 5 Yr 10 Yr
Standard Deviation 5.87% 7.79% 9.37% 7.54%
Beta 0.47% 0.75% 1.00% 0.57%
Alpha 0.04% 0.00% 0.00% 0.00%
Rsquared 0.13% 0.45% 0.58% 0.28%
Sharpe 0.65% -0.02% 0.14% 0.24%
Sortino 1.94% -0.09% 0.03% 0.03%
Treynor 0.08% 0.00% 0.01% 0.03%
Tax Efficiency 77.34% 13.89% 38.06% 39.50%

Fund Details

Start Date November 06, 2006
Instrument Type Mutual Fund
Share Class Commission Based Advice
Legal Status Trust
Sales Status Open
Currency CAD
Distribution Frequency Monthly
Assets ($mil) $39

Fund Codes

FundServ Code Load Code Sales Status
FID1255

Investment Objectives

The Fund aims to achieve a combination of a high level of income and the potential for capital gains. It seeks a similar return to its underlying fund, which is also managed by Fidelity, by investing substantially all of its assets in units of that fund. The underlying fund aims to achieve a combination of a high level of income and the potential for capital gains by investing primarily in higher yielding, lower quality fixed income securities, preferred stocks and convertible securities.

Investment Strategy

The strategies described below relate to the Fund and the underlying fund, Fidelity American High Yield Fund. To meet the Fund’s objectives, the portfolio management team of the underlying fund: When buying and selling high yield securities, examines each issuer’s potential based on factors, such as: > Financial condition. > Industry position. > Economic and market conditions. > The security’s features. > Price compared to estimated long-term value. > Earnings potential. > Credit standing.

Portfolio Manager(s)

Name Start Date
Harley Lank 08-01-2007
Fidelity Management & Research Company LLC 02-06-2023

Management and Organization

Fund Manager Fidelity Investments Canada ULC
Advisor Fidelity Investments Canada ULC
Custodian CIBC Mellon Trust Company
Registrar Fidelity Investments Canada ULC
Distributor Fidelity Investments Canada ULC
Auditor PriceWaterhouseCoopers LLP

Investment Minimums

RSP Eligible Yes
PAC Allowed Yes
PAC Initial Investment 500
PAC Subsequent 25
SWP Allowed Yes
SWP Min Balance 5,000
SWP Min Withdrawal 50

Fees

MER 1.57%
Management Fee 1.25%
Load Front 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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