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FGMNX Fidelity® GNMA

  • Fund
  • FGMNX
  • Price as of: Dec 08, 2016
  • $11.47
  • - $0.01
  • - 0.09%
  • Category
  • Government Bonds

FGMNX - Profile

Vitals

  • YTD Return -0.4%
  • 3 Yr Annualized Return 2.8%
  • 5 Yr Annualized Return 2.1%
  • Net Assets $6.17 B
  • Holdings in Top 10 75.2%

52 WEEK LOW AND HIGH

$11.47
$11.45
$11.71

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.45%

SALES FEES

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

BROKERAGE FEES

  • Turnover 304.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

STANDARD (TAXABLE)

$2,500

IRA

$2,500

Investment Themes

CATEGORY

Government Bonds
  • Fund Type Open End Mutual Fund
  • Investment Style Intermediate Government

Distributions

  • YTD Total Return -0.2%
  • 3 Yr Annualized Total Return 2.8%
  • 5 Yr Annualized Total Return 2.1%
  • Capital Gain Distribution Frequency None
  • Net Income Ratio 2.11%
DIVIDENDS
  • Dividend Yield 0.2%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name Fidelity® GNMA Fund
  • Fund Family Name Fidelity Investments
  • Inception Date Nov 08, 1985
  • Shares Outstanding N/A
  • Share Class No Load
  • Currency USD
  • Domiciled Country United States
  • Manager Franco Castagliuolo

Fund Description

The Fidelity GNMA Fund (FGMNX) is an actively managed fund within the fixed-income sector. FGMNX hones its portfolio towards Ginnie Mae bonds, pass-through securities and repurchase agreements for Ginnie Mae bonds. Ginnie Mae bonds are U.S. 100%-backed government mortgage bonds issued through various housing authorities and agencies in the United States. The fund seeks to use credit analysis to outperform its benchmark.

With its low costs and relatively low risk and high yield, FGMNX is a great subcore position in a broad fixed-income portfolio. The fund is internally managed by Fidelity.

FGMNX - Performance

Return Ranking - Trailing

Period FGMNX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD -0.4% -10.6% 4.6% 27.96% 3
1 Yr 1.7% -5.9% 56.6% 14.18% 1
3 Yr 2.8% * -2.8% 11.4% 9.22% 1
5 Yr 2.1% * -2.8% 4.0% 13.66% 1
10 Yr 4.5% * 0.1% 8.7% 9.27% 1

* Annualized


Return Ranking - Calendar

Period FGMNX Return Category Return Low Category Return High Rank in Category (%) Quintile
2015 -1.2% -46.1% 0.2% 22.58% 2
2014 4.0% -8.3% 41.3% 5.88% 1
2013 -4.5% -26.8% 3.1% 38.95% 3
2012 -0.8% -24.0% 9.1% 36.86% 3
2011 3.2% -5.9% 56.0% 20.56% 2

Total Return Ranking - Trailing

Period FGMNX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD -0.2% -10.6% 5.1% 36.96% 3
1 Yr 1.7% -8.4% 14.8% 11.25% 1
3 Yr 2.8% * -3.0% 11.4% 8.93% 1
5 Yr 2.1% * -2.8% 4.0% 13.37% 1
10 Yr 4.5% * 0.1% 8.7% 8.95% 1

* Annualized


Total Return Ranking - Calendar

Period FGMNX Return Category Return Low Category Return High Rank in Category (%) Quintile
2015 -0.7% -7.8% 4.0% 34.32% 3
2014 4.0% -8.8% 51.5% 24.01% 2
2013 -4.0% -26.7% 3.2% 41.81% 3
2012 0.6% -2.0% 16.7% 42.55% 3
2011 4.7% -6.0% 101.6% 33.54% 3

NAV & Total Return History

FGMNX - Holdings

Filings data as of: Oct 31, 2016

Concentration Analysis

FGMNX Category Low Category High FGMNX % Rank Quintile
Net Assets 6.17 B 1.18 M 27.1 B 2.22% 1
Number of Holdings 228 7 18548 15.06% 3
Net Assets in Top 10 5.14 B -28.1 M 9.61 B 0.74% 1
Weighting of Top 10 75.2% 0.0% 2031.0% 10.12% 2

Top 10 Holdings

  1. GNMA 3.5% 29.01%
  2. Ginnie Mae 3% 30 Year 15.83%
  3. GNMA 4% 15.10%
  4. GNMA 4.5% 7.12%
  5. Ginnie Mae 5% 30 Year 2.48%
  6. Fannie Mae 2.5% 15 Year 1.55%
  7. US Treasury Note 0.75% 1.11%
  8. GNMA CMO 2.5% 1.10%
  9. GNMA CMO 0.99%
  10. Ginnie Mae 5.5% 30 Year 0.92%

Asset Allocation

Weighting Category Low Category High FGMNX % Rank Quintile
Bonds
92.21% 0.00% 2072.50% 26.67% 4
Cash
7.79% -1972.50% 100.00% 9.88% 2
Other
0.00% -0.88% 9.45% 9.38% 4
Convertible Bonds
0.00% 0.00% 0.16% 0.49% 4
Preferred Stocks
0.00% 0.00% 0.64% 1.23% 4
Stocks
0.00% -0.01% 15.23% 1.73% 4

Bond Sector Breakdown

Weighting Category Low Category High FGMNX % Rank Quintile
Government
69.36% -30.64% 2032.65% 11.85% 2
Securitized
22.85% 0.00% 147.78% 24.94% 4
Cash & Equivalents
7.79% -1972.50% 100.00% 10.62% 2
Corporate
0.00% 0.00% 76.92% 17.53% 5
Municipal
0.00% 0.00% 18.73% 6.17% 5
Derivative
0.00% -33.10% 25.50% 1.23% 4

Bond Geographic Breakdown

Weighting Category Low Category High FGMNX % Rank Quintile
US
92.21% 0.00% 1865.54% 24.44% 4
Non US
0.00% 0.00% 206.96% 13.58% 5

FGMNX - Expenses

Operational Fees

FGMNX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 0.45% 0.04% 8.57% 37.04% 1
Management Fee 0.31% 0.00% 1.50% 8.40% 2
12b-1 Fee N/A 0.00% 1.00% N/A N/A
Administrative Fee N/A 0.00% 0.40% N/A N/A

Sales Fees

FGMNX Fees (% of AUM) Category Low Category High FGMNX Rank Quintile
Front Load N/A 0.40% 5.75% N/A N/A
Deferred Load N/A 0.50% 5.50% N/A N/A

Trading Fees

FGMNX Fees (% of AUM) Category Low Category High FGMNX 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.

FGMNX Fees (% of AUM) Category Low Category High FGMNX Rank Quintile
Turnover 304.00% 0.00% 1609.00% 7.94% 4

FGMNX - Distributions

Dividend Yield Analysis

FGMNX Category Low Category High FGMNX % Rank Quintile
Dividend Yield 0.2% 0.00% 3.47% 22.08% 2

Dividend Distribution Analysis

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

Dividend Payout History


Net Income Ratio Analysis

FGMNX Category Low Category High FGMNX % Rank Quintile
Net Income Ratio 2.11% -3.48% 3.23% 12.59% 1

Capital Gain Distribution Analysis

FGMNX Category Low Category High Capital Mode
Capital Gain Distribution Frequency None Annually Semi-Annually Annually

FGMNX - Managers

Franco Castagliuolo

Manager

Start Date

Dec 15, 2009

Tenure

6.96

Tenure Rank

8.6%

Franco Castagliuolo joined Fidelity Investments in 1997, Mr. Castagliuolo has served as a research associate and portfolio manager.


William Irving

Lead Manager

Start Date

Nov 01, 2004

Tenure

12.09

Tenure Rank

4.1%

Irving is manager of Institutional Short-Intermediate Government Fund, which he has managed since April 2008. He also manages other Fidelity funds. Since joining Fidelity Investments in 1999, Irving has worked as a quantitative analyst and portfolio manager.


Tenure Analysis

Category Low

0.0

Category High

30.9

Category Average

6.47

Category Mode

1.9