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FFRHX Fidelity® Floating Rate High Income

  • Fund
  • FFRHX
  • Price as of: Aug 18, 2017
  • $9.63
  • - $0.01
  • - 0.10%
  • Category
  • Bank Loan

FFRHX - Profile

Vitals

  • YTD Return -0.1%
  • 3 Yr Annualized Return 2.9%
  • 5 Yr Annualized Return 3.6%
  • Net Assets $10.7 B
  • Holdings in Top 10 11.8%

52 WEEK LOW AND HIGH

$9.63
$9.49
$9.69

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.71%

SALES FEES

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

BROKERAGE FEES

  • Turnover 46.00%

TRADING FEES

  • Max Redemption Fee 1.00%

Min Investment

STANDARD (TAXABLE)

$2,500

IRA

$2,500

Investment Themes

CATEGORY

Bank Loan
  • Fund Type Open End Mutual Fund
  • Investment Style Bank Loan

Distributions

  • YTD Total Return -0.1%
  • 3 Yr Annualized Total Return 2.9%
  • 5 Yr Annualized Total Return 3.6%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 3.86%
DIVIDENDS
  • Dividend Yield 0.4%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name Fidelity® Floating Rate High Income Fund
  • Fund Family Name Fidelity Investments
  • Inception Date Sep 19, 2002
  • Shares Outstanding N/A
  • Share Class No Load
  • Currency USD
  • Domiciled Country United States
  • Manager Eric Mollenhauer

Fund Description

The Fidelity Floating Rate High Income Fund (FFRHX) is an actively managed, specialized fixed-income fund. FFRHX focuses on floating-rate bank loans and debt. These bonds feature coupons that reset every 30 to 90 days and are tied to various interest rate benchmarks. The fund may also invest in money-market and investment-grade debt securities as well as repurchase agreements. Fund management engages in credit research to determine undervalued floating-rate and senior loans to create a very conservative portfolio.

FFRHX features low costs and makes an ideal satellite position in a broad fixed-income portfolio.

FFRHX - Performance

Return Ranking - Trailing

Period FFRHX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD -0.1% -1.7% 4.4% 27.01% 3
1 Yr 7.2% -1.0% 12.4% 35.38% 2
3 Yr 2.9% * -0.6% 5.2% 38.94% 2
5 Yr 3.6% * 1.0% 6.6% 66.29% 4
10 Yr 3.8% * -0.1% 5.6% 22.34% 2

* Annualized


Return Ranking - Calendar

Period FFRHX Return Category Return Low Category Return High Rank in Category (%) Quintile
2016 5.6% -5.3% 7.9% 22.97% 2
2015 -5.1% -12.2% 0.0% 36.23% 3
2014 -3.4% -6.9% 0.0% 37.56% 3
2013 0.4% -1.3% 12.5% 54.55% 4
2012 2.9% 0.0% 11.2% 59.64% 5

Total Return Ranking - Trailing

Period FFRHX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD -0.1% -1.7% 4.4% 27.01% 3
1 Yr 7.2% -1.0% 12.4% 23.58% 2
3 Yr 2.9% * -0.8% 5.2% 29.81% 2
5 Yr 3.6% * 1.0% 6.6% 58.29% 3
10 Yr 3.8% * -0.1% 5.6% 21.28% 2

* Annualized


Total Return Ranking - Calendar

Period FFRHX Return Category Return Low Category Return High Rank in Category (%) Quintile
2016 5.6% -5.3% 10.8% 34.45% 3
2015 -5.1% -12.2% 2.9% 42.03% 3
2014 -3.0% -6.9% 2.9% 39.02% 3
2013 0.8% -1.3% 12.5% 47.16% 4
2012 3.5% 0.0% 16.9% 51.81% 4

NAV & Total Return History

FFRHX - Holdings

Filings data as of: Apr 30, 2017

Concentration Analysis

FFRHX Category Low Category High FFRHX % Rank Quintile
Net Assets 10.7 B 25.2 M 14.9 B 1.42% 1
Number of Holdings 455 57 1410 7.55% 2
Net Assets in Top 10 1.33 B -331 M 1.66 B 1.42% 1
Weighting of Top 10 11.8% 6.1% 224.2% 11.79% 2

Top 10 Holdings

  1. Laureate Edu Term B 1ln 04/24 1.63%
  2. Albertsons Llc Tl B-4 08/25/21 1.60%
  3. Caesars Growth Term 1ln 5/21 1.43%
  4. Laureate Education Term B 3/21 1.19%
  5. Valeant Pharm Int Trm Bf1 4/22 1.16%
  6. Intelsat Jackson Term B-2 6/19 1.11%
  7. Bass Pro Escrow Trm B 12/16/23 0.96%
  8. Community Health Term H 01/21 0.95%
  9. Caesars Prop Tm B 1ln 10/11/20 0.89%
  10. Scientific Games Tl B3 10/1/21 0.89%

Asset Allocation

Weighting Category Low Category High FFRHX % Rank Quintile
Bonds
88.10% 5.65% 130.78% 15.09% 3
Cash
11.60% -31.80% 87.26% 5.66% 1
Stocks
0.30% -0.03% 7.81% 9.43% 2
Preferred Stocks
0.00% 0.00% 1.02% 6.60% 4
Other
0.00% -6.68% 10.05% 26.42% 5
Convertible Bonds
0.00% 0.00% 4.66% 7.08% 4

Stock Sector Breakdown

Weighting Category Low Category High FFRHX % Rank Quintile
Basic Materials
0.26% 0.00% 1.30% 4.65% 2
Real Estate
0.01% 0.00% 0.61% 1.74% 1
Communication Services
0.01% 0.00% 0.13% 1.74% 1
Consumer Cyclical
0.01% 0.00% 0.85% 8.14% 2
Utilities
0.00% 0.00% 0.61% 7.56% 4
Technology
0.00% 0.00% 0.00% 0.58% 4
Industrials
0.00% 0.00% 0.00% 0.58% 4
Healthcare
0.00% 0.00% 0.05% 1.16% 4
Financial Services
0.00% 0.00% 0.09% 2.33% 4
Energy
0.00% 0.00% 1.33% 8.72% 4
Consumer Defense
0.00% 0.00% 0.13% 2.33% 4

Stock Geographic Breakdown

Weighting Category Low Category High FFRHX % Rank Quintile
US
0.29% -0.03% 7.81% 9.91% 2
Non US
0.01% 0.00% 0.25% 2.36% 1

Bond Sector Breakdown

Weighting Category Low Category High FFRHX % Rank Quintile
Corporate
87.63% 0.00% 98.11% 8.96% 2
Cash & Equivalents
11.60% -31.89% 164.55% 4.72% 1
Government
0.09% -115.02% 25.19% 5.66% 2
Derivative
0.00% -33.31% 26.13% 4.25% 4
Securitized
0.00% 0.00% 51.56% 16.04% 5
Municipal
0.00% 0.00% 1.96% 2.36% 4

Bond Geographic Breakdown

Weighting Category Low Category High FFRHX % Rank Quintile
US
59.78% -54.19% 92.96% 20.75% 4
Non US
28.32% 0.00% 82.97% 8.96% 2

FFRHX - Expenses

Operational Fees

FFRHX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 0.71% 0.56% 2.81% 43.87% 1
Management Fee 0.56% 0.15% 1.00% 7.55% 2
12b-1 Fee N/A 0.00% 1.00% N/A N/A
Administrative Fee N/A 0.01% 0.40% N/A N/A

Sales Fees

FFRHX Fees (% of AUM) Category Low Category High FFRHX Rank Quintile
Front Load N/A 0.75% 4.75% N/A N/A
Deferred Load N/A 1.00% 5.00% N/A N/A

Trading Fees

FFRHX Fees (% of AUM) Category Low Category High FFRHX Rank Quintile
Max Redemption Fee 1.00% 1.00% 2.00% 4.44% 2

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.

FFRHX Fees (% of AUM) Category Low Category High FFRHX Rank Quintile
Turnover 46.00% 13.00% 243.00% 12.74% 3

FFRHX - Distributions

Dividend Yield Analysis

FFRHX Category Low Category High FFRHX % Rank Quintile
Dividend Yield 0.4% 0.14% 1.25% 36.36% 3

Dividend Distribution Analysis

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

Dividend Payout History


Net Income Ratio Analysis

FFRHX Category Low Category High FFRHX % Rank Quintile
Net Income Ratio 3.86% 1.34% 6.09% 41.51% 4

Capital Gain Distribution Analysis

FFRHX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Semi-Annually Annually

FFRHX - Managers

Eric Mollenhauer

Manager

Start Date

Apr 01, 2013

Tenure

4.25

Tenure Rank

11.0%

Eric Mollenhauer is a portfolio manager at Fidelity Management & Research Company (FMRCo), 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.


Tenure Analysis

Category Low

0.0

Category High

20.8

Category Average

6.29

Category Mode

2.5