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FAUDX Strategic Advisers® Short Duration

  • Fund
  • FAUDX
  • Price as of: Dec 15, 2017
  • $10.05
  • - $0.01
  • - 0.10%
  • Category
  • Total Bond Market

FAUDX - Profile

Vitals

  • YTD Return 0.3%
  • 3 Yr Annualized Return 1.2%
  • 5 Yr Annualized Return 1.0%
  • Net Assets $9.65 B
  • Holdings in Top 10 63.0%

52 WEEK LOW AND HIGH

$10.05
$10.02
$10.07

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.36%

SALES FEES

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

BROKERAGE FEES

  • Turnover 26.00%

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 0.3%
  • 3 Yr Annualized Total Return 1.2%
  • 5 Yr Annualized Total Return 1.0%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.36%
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 Robert Galusza

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 US 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 0.3% -19.6% 24.5% 50.10% 4
1 Yr 1.7% -15.5% 26.5% 71.04% 4
3 Yr 1.2% * -6.1% 10.2% 70.37% 4
5 Yr 1.0% * -2.5% 14.8% 75.77% 4
10 Yr N/A * -1.4% 9.2% N/A N/A

* Annualized


Return Ranking - Calendar

Period FAUDX Return Category Return Low Category Return High Rank in Category (%) Quintile
2016 0.5% -10.9% 192.8% 32.36% 3
2015 -0.6% -33.0% 4.2% 7.44% 1
2014 -0.3% -9.3% 14.9% 41.25% 4
2013 -0.3% -24.1% 40.4% 10.39% 1
2012 0.9% -100.0% 18.7% 55.13% 4

Total Return Ranking - Trailing

Period FAUDX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 0.3% -19.6% 24.5% 49.97% 4
1 Yr 1.7% -15.5% 26.5% 59.68% 4
3 Yr 1.2% * -7.0% 10.2% 62.31% 4
5 Yr 1.0% * -3.4% 14.8% 70.97% 4
10 Yr N/A * -1.4% 9.2% N/A N/A

* Annualized


Total Return Ranking - Calendar

Period FAUDX Return Category Return Low Category Return High Rank in Category (%) Quintile
2016 0.5% -9.5% 195.3% 43.40% 3
2015 -0.5% -32.5% 7.4% 22.87% 2
2014 -0.3% -8.3% 16.8% 59.99% 4
2013 -0.2% -12.9% 58.5% 20.91% 2
2012 1.0% -100.0% 35.2% 67.62% 5

NAV & Total Return History

FAUDX - Holdings

Filings data as of: Oct 31, 2017

Concentration Analysis

FAUDX Category Low Category High FAUDX % Rank Quintile
Net Assets 9.65 B 319 K 192 B 2.34% 1
Number of Holdings 955 1 17413 6.21% 2
Net Assets in Top 10 6.05 B -36 B 31.8 B 0.92% 1
Weighting of Top 10 63.0% 0.0% 1191.5% 5.75% 1

Top 10 Holdings

  1. PIMCO Short-Term Admin 18.07%
  2. Fidelity® Short-Term Bond 7.68%
  3. Metropolitan West Low Duration Bd M 5.59%
  4. Fidelity® Conservative Income Bond Instl 12.59%
  5. Fidelity® Floating Rate High Income 3.36%
  6. Delaware Limited-Term Diversified Inc A 2.20%
  7. JPMorgan Short Duration Bond A 2.64%
  8. PIMCO Enhanced Short Maturity Active ETF 4.20%
  9. BlackRock Low Duration Bond Inv A 4.55%
  10. Prudential Short-Term Corporate Bd A 2.07%

Asset Allocation

Weighting Category Low Category High FAUDX % Rank Quintile
Bonds
74.69% -175.98% 562.01% 25.79% 5
Cash
24.60% -461.99% 275.92% 2.90% 1
Convertible Bonds
0.38% 0.00% 13.10% 4.68% 1
Preferred Stocks
0.29% 0.00% 20.69% 9.16% 3
Other
0.04% -21.56% 99.99% 12.87% 3
Stocks
0.02% -2.81% 98.31% 5.24% 2

Stock Sector Breakdown

Weighting Category Low Category High FAUDX % Rank Quintile
Basic Materials
0.01% -0.43% 15.63% 3.75% 1
Utilities
0.00% -0.09% 7.73% 4.84% 5
Technology
0.00% -1.56% 21.00% 4.64% 5
Real Estate
0.00% -0.72% 17.38% 4.44% 4
Industrials
0.00% -0.30% 11.58% 5.23% 5
Healthcare
0.00% -0.69% 11.13% 4.24% 5
Financial Services
0.00% -0.15% 21.06% 7.01% 5
Energy
0.00% -0.88% 9.62% 5.33% 5
Communication Services
0.00% -0.44% 6.14% 4.15% 5
Consumer Defense
0.00% -0.24% 10.78% 4.24% 4
Consumer Cyclical
0.00% -0.36% 12.13% 5.13% 5

Stock Geographic Breakdown

Weighting Category Low Category High FAUDX % Rank Quintile
US
0.02% -15.26% 90.53% 4.83% 1
Non US
0.00% -0.82% 96.61% 3.10% 4

Bond Sector Breakdown

Weighting Category Low Category High FAUDX % Rank Quintile
Corporate
48.22% 0.00% 221.70% 9.61% 2
Cash & Equivalents
23.98% -462.00% 275.92% 2.80% 1
Securitized
19.68% 0.00% 118.59% 21.16% 4
Government
7.29% -389.49% 503.27% 24.31% 4
Municipal
0.35% 0.00% 99.16% 10.99% 3
Derivative
-0.44% -64.42% 84.44% 4.58% 5

Bond Geographic Breakdown

Weighting Category Low Category High FAUDX % Rank Quintile
US
55.43% -370.09% 500.82% 25.94% 5
Non US
19.26% -129.54% 351.70% 7.88% 2

FAUDX - Expenses

Operational Fees

FAUDX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 0.36% 0.00% 32.76% 12.47% 1
Management Fee 0.28% 0.00% 2.15% 3.51% 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 26.00% 0.00% 1541.00% 16.54% 1

FAUDX - Distributions

Dividend Yield Analysis

FAUDX Category Low Category High FAUDX % Rank Quintile
Dividend Yield 0.1% 0.00% 1.00% 28.53% 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 1.36% -1.56% 9.28% 16.90% 4

Capital Gain Distribution Analysis

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

FAUDX - Managers

Robert Galusza

Manager

Start Date

Jan 01, 2012

Tenure

5.92

Tenure Rank

5.2%

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 insurance 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.


Julian Potenza

Manager

Start Date

Oct 26, 2017

Tenure

0.1

Tenure Rank

9.8%

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

0.0

Category High

28.9

Category Average

6.33

Category Mode

0.7