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FAUDX Strategic Advisers® Short Duration

  • Fund
  • FAUDX
  • Price as of: Sep 18, 2018
  • $10.02
  • - $0.00
  • - 0.00%
  • Category
  • Total Bond Market

FAUDX - Profile

Vitals

  • YTD Return -0.2%
  • 3 Yr Annualized Return 1.5%
  • 5 Yr Annualized Return 1.2%
  • Net Assets $7.87 B
  • Holdings in Top 10 60.8%

52 WEEK LOW AND HIGH

$10.02
$10.01
$10.07

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.35%

SALES FEES

  • Front Load N/A
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 25.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

STANDARD (TAXABLE)

$0

IRA

N/A

Investment Themes

CATEGORY

Total Bond Market
  • Fund Type Open End Mutual Fund
  • Investment Style Ultrashort Bond

Distributions

  • YTD Total Return -0.2%
  • 3 Yr Annualized Total Return 1.5%
  • 5 Yr Annualized Total Return 1.2%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.67%
DIVIDENDS
  • Dividend Yield 0.1%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name Strategic Advisers® Short Duration Fund
  • Fund Family Name Fidelity Investments
  • Inception Date Dec 20, 2011
  • Shares Outstanding N/A
  • Share Class Other
  • Currency USD
  • Domiciled Country United States
  • Manager Gregory Pappas

Fund Description

The fund allocates among affiliated fixed-income funds and non-affiliated fixed-income funds that participate in Fidelity's FundsNetwork®, and non-affiliated ETFs (underlying funds) and sub-advisers. It allocates assets among underlying funds and sub-advisers to achieve similar overall interest rate risk to the Citigroup® 6-Month U.S. Treasury Bill Index. The fund normally invests in U.S. dollar-denominated money market and investment-grade debt securities, and repurchase agreements. It maintains a dollar-weighted average maturity of three years or less.

FAUDX - Performance

Return Ranking - Trailing

Period FAUDX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD -0.2% -100.0% 14.2% 12.64% 1
1 Yr 1.4% -15.5% 21.5% 20.45% 2
3 Yr 1.5% * -6.1% 11.4% 59.33% 4
5 Yr 1.2% * -2.4% 14.8% 74.76% 4
10 Yr N/A * -0.7% 9.4% N/A N/A

* Annualized


Return Ranking - Calendar

Period FAUDX Return Category Return Low Category Return High Rank in Category (%) Quintile
2017 0.2% -10.9% 25.1% 46.82% 4
2016 0.5% -11.1% 192.8% 32.40% 3
2015 -0.6% -33.0% 5.1% 9.38% 1
2014 -0.3% -24.1% 20.8% 41.41% 4
2013 -0.3% -13.1% 40.4% 12.99% 1

Total Return Ranking - Trailing

Period FAUDX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD -0.2% -100.0% 14.2% 12.58% 1
1 Yr 1.4% -15.5% 21.5% 16.39% 1
3 Yr 1.5% * -7.0% 11.4% 52.33% 3
5 Yr 1.2% * -2.8% 14.8% 72.05% 4
10 Yr N/A * -0.7% 9.4% N/A N/A

* Annualized


Total Return Ranking - Calendar

Period FAUDX Return Category Return Low Category Return High Rank in Category (%) Quintile
2017 0.2% -9.5% 25.1% 47.77% 4
2016 0.5% -11.1% 195.3% 42.79% 3
2015 -0.5% -32.5% 16.5% 25.31% 2
2014 -0.3% -9.9% 58.5% 59.22% 4
2013 -0.2% -12.9% 58.3% 24.03% 2

NAV & Total Return History

FAUDX - Holdings

Filings data as of: Jul 31, 2018

Concentration Analysis

FAUDX Category Low Category High FAUDX % Rank Quintile
Net Assets 7.87 B 319 K 198 B 3.46% 1
Number of Holdings 956 1 17412 7.32% 2
Net Assets in Top 10 4.76 B -36 B 52.1 B 1.48% 1
Weighting of Top 10 60.8% 0.0% 1093.9% 6.87% 2

Top 10 Holdings

  1. PIMCO Short-Term Admin 23.30%
  2. Fidelity® Short-Term Bond 7.78%
  3. Metropolitan West Low Duration Bd M 5.44%
  4. Fidelity® Conservative Income Bond Instl 4.57%
  5. Fidelity® Floating Rate High Income 4.58%
  6. PIMCO Enhanced Short Maturity Active ETF 3.86%
  7. BlackRock Low Duration Bond Inv A 6.40%
  8. PGIM Short-Term Corporate Bond A 2.05%
  9. Janus Henderson Short-Term Bond T 1.47%
  10. Delaware Limited-Term Diversified Inc A 1.31%

Asset Allocation

Weighting Category Low Category High FAUDX % Rank Quintile
Cash
76.22% -461.99% 275.92% 0.61% 1
Bonds
18.97% -190.82% 562.01% 31.28% 5
Other
4.17% -18.46% 99.99% 3.66% 1
Convertible Bonds
0.55% 0.00% 13.10% 6.05% 2
Preferred Stocks
0.06% -0.12% 22.98% 6.97% 2
Stocks
0.04% -2.63% 98.61% 5.49% 2

Stock Sector Breakdown

Weighting Category Low Category High FAUDX % Rank Quintile
Utilities
0.03% -0.05% 8.66% 4.88% 2
Basic Materials
0.01% -0.43% 8.19% 4.49% 2
Technology
0.00% -2.37% 21.00% 5.46% 5
Real Estate
0.00% -0.15% 12.16% 5.07% 5
Industrials
0.00% -0.11% 10.97% 6.05% 5
Healthcare
0.00% -0.69% 15.17% 4.78% 5
Financial Services
0.00% -0.22% 20.89% 7.22% 5
Energy
0.00% -0.88% 10.85% 5.66% 5
Communication Services
0.00% -0.07% 4.37% 4.68% 5
Consumer Defense
0.00% -0.17% 10.61% 4.68% 5
Consumer Cyclical
0.00% -0.36% 14.32% 5.85% 5

Stock Geographic Breakdown

Weighting Category Low Category High FAUDX % Rank Quintile
US
0.04% -18.45% 96.69% 5.04% 1
Non US
0.00% -0.82% 93.88% 3.36% 5

Bond Sector Breakdown

Weighting Category Low Category High FAUDX % Rank Quintile
Cash & Equivalents
75.68% -462.00% 275.92% 0.56% 1
Corporate
48.30% 0.00% 221.70% 9.31% 2
Securitized
21.81% 0.00% 118.59% 21.82% 4
Municipal
0.29% 0.00% 98.98% 10.94% 3
Derivative
-0.75% -106.77% 65.32% 6.26% 5
Government
-50.44% -389.49% 503.27% 32.30% 5

Bond Geographic Breakdown

Weighting Category Low Category High FAUDX % Rank Quintile
US
85.59% -370.09% 500.82% 12.36% 2
Non US
-66.62% -440.41% 351.70% 30.77% 5

FAUDX - Expenses

Operational Fees

FAUDX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 0.35% 0.00% 44.72% 12.48% 1
Management Fee 0.28% 0.00% 2.15% 3.56% 1
12b-1 Fee N/A 0.00% 1.00% N/A N/A
Administrative Fee N/A 0.00% 0.63% N/A N/A

Sales Fees

FAUDX Fees (% of AUM) Category Low Category High FAUDX Rank Quintile
Front Load N/A 0.00% 5.75% N/A N/A
Deferred Load N/A 0.15% 5.50% N/A N/A

Trading Fees

FAUDX Fees (% of AUM) Category Low Category High FAUDX Rank Quintile
Max Redemption Fee N/A 0.25% 2.00% N/A N/A

Turnover 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.

FAUDX Fees (% of AUM) Category Low Category High FAUDX Rank Quintile
Turnover 25.00% 0.00% 1576.00% 16.95% 1

FAUDX - Distributions

Dividend Yield Analysis

FAUDX Category Low Category High FAUDX % Rank Quintile
Dividend Yield 0.1% 0.00% 1.35% 28.61% 5

Dividend Distribution Analysis

FAUDX Category Low Category High Category Mode
Dividend Distribution Frequency Monthly Annually Monthly Annually

Dividend Payout History


Net Income Ratio Analysis

FAUDX Category Low Category High FAUDX % Rank Quintile
Net Income Ratio 1.67% -1.56% 9.28% 14.57% 4

Capital Gain Distribution Analysis

FAUDX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Daily Annually

FAUDX - Managers

Gregory Pappas

Lead Manager

Start Date

Dec 20, 2011

Tenure

6.7

Tenure Rank

5.2%

Gregory Pappas is a portfolio manager for Strategic Advisers, Inc. (SAI), a unit of Fidelity Investments. Mr. Pappas joined Fidelity in 1990 as vice president for fixed income product and business development in the firm’s National Financial Correspondent Services group. He moved to SAI in 1996. Previous to Fidelity, Mr. Pappas was a senior portfolio manager at Bank of New England. Mr. Pappas received a bachelor of arts degree in economics, with honors, from St. Lawrence University. He is a CFA charterholder and a member of the Boston Security Analysts Society.


Jonathan Duggan

Manager

Start Date

Aug 23, 2018

Tenure

0.02

Tenure Rank

10.3%

Since joining Fidelity Investments in 2007, Mr. Duggan has worked as team leader of fixed income research and portfolio manager.


Tenure Analysis

Category Low

0.0

Category High

29.6

Category Average

6.52

Category Mode

3.6