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FPCIX Strategic Advisers® Core Income

  • Fund
  • FPCIX
  • Price as of: Dec 02, 2016
  • $10.40
  • + $0.02
  • + 0.19%
  • Category
  • Total Bond Market

FPCIX - Profile

Vitals

  • YTD Return 0.6%
  • 3 Yr Annualized Return 3.6%
  • 5 Yr Annualized Return 3.6%
  • Net Assets $29.2 B
  • Holdings in Top 10 69.5%

52 WEEK LOW AND HIGH

$10.40
$10.33
$10.77

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.31%

SALES FEES

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

BROKERAGE FEES

  • Turnover 69.00%

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 Intermediate-Term Bond

Distributions

  • YTD Total Return 1.2%
  • 3 Yr Annualized Total Return 3.6%
  • 5 Yr Annualized Total Return 3.6%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 3.00%
DIVIDENDS
  • Dividend Yield 0.2%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name Strategic Advisers® Core Income Fund
  • Fund Family Name Fidelity Investments
  • Inception Date Sep 27, 2007
  • Shares Outstanding N/A
  • Share Class Other
  • Currency USD
  • Domiciled Country United States
  • Manager James L. Herbst

Fund Description

The fund invests primarily in investment-grade debt securities (those of medium and high quality) of all types and repurchase agreements for those securities. It invests up to 30% of assets in high yield and emerging market debt securities. The fund invests in domestic and foreign issuers. It allocates assets among affiliated fixed-income funds (i.e., Fidelity® funds) and non-affiliated fixed-income funds that participate in Fidelity's FundsNetwork®, and non-affiliated exchange traded funds (ETFs) (underlying funds) and sub-advisers.

FPCIX - Performance

Return Ranking - Trailing

Period FPCIX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 0.6% -8.1% 202.4% 40.12% 3
1 Yr 5.3% -12.6% 13.2% 17.88% 1
3 Yr 3.6% * -5.8% 8.5% 18.30% 1
5 Yr 3.6% * -2.8% 9.4% 23.40% 2
10 Yr N/A * -1.7% 9.8% N/A N/A

* Annualized


Return Ranking - Calendar

Period FPCIX Return Category Return Low Category Return High Rank in Category (%) Quintile
2015 -3.0% -33.0% 3.0% 37.19% 3
2014 2.2% -9.3% 14.9% 19.47% 2
2013 -4.3% -24.1% 40.4% 44.72% 4
2012 3.1% -100.0% 18.7% 30.14% 3
2011 0.9% -20.6% 15.5% 31.40% 3

Total Return Ranking - Trailing

Period FPCIX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 1.2% -7.3% 205.2% 38.70% 3
1 Yr 5.3% -12.6% 16.3% 14.13% 1
3 Yr 3.6% * -7.2% 8.5% 16.29% 1
5 Yr 3.6% * -3.7% 9.4% 20.72% 2
10 Yr N/A * -1.7% 9.8% N/A N/A

* Annualized


Total Return Ranking - Calendar

Period FPCIX Return Category Return Low Category Return High Rank in Category (%) Quintile
2015 -2.9% -32.5% 4.5% 55.85% 4
2014 2.3% -8.3% 16.8% 37.84% 3
2013 -4.0% -12.9% 58.5% 58.86% 4
2012 4.6% -100.0% 35.2% 37.51% 3
2011 2.4% -20.7% 18.1% 41.06% 3

NAV & Total Return History

FPCIX - Holdings

Filings data as of: Sep 30, 2016

Concentration Analysis

FPCIX Category Low Category High FPCIX % Rank Quintile
Net Assets 29.2 B 319 K 176 B 0.92% 1
Number of Holdings 1171 1 17569 4.02% 1
Net Assets in Top 10 20.7 B -36 B 21.3 B 0.10% 1
Weighting of Top 10 69.5% 0.0% 1093.9% 4.93% 1

Top 10 Holdings

  1. Metropolitan West Total Return Bd M 7.10%
  2. DoubleLine Total Return Bond N 3.17%
  3. Western Asset Core Plus Bond I 7.61%
  4. Western Asset Core Bond I 3.60%
  5. Fidelity® Total Bond 17.33%
  6. Prudential Total Return Bond A 3.56%
  7. PIMCO Total Return Instl 19.81%
  8. JPMorgan Core Bond Select 2.82%
  9. PIMCO Income Instl 2.94%
  10. PIMCO Mortgage Opportunities Instl 1.56%

Asset Allocation

Weighting Category Low Category High FPCIX % Rank Quintile
Bonds
94.49% -175.98% 192.68% 11.95% 3
Cash
4.48% -96.63% 275.92% 15.41% 3
Other
0.78% -30.71% 98.36% 9.77% 2
Convertible Bonds
0.13% 0.00% 12.73% 4.98% 2
Preferred Stocks
0.06% -0.45% 17.13% 6.97% 2
Stocks
0.06% -3.27% 98.09% 5.44% 2

Stock Sector Breakdown

Weighting Category Low Category High FPCIX % Rank Quintile
Real Estate
0.03% -0.31% 15.95% 4.78% 1
Financial Services
0.00% -0.47% 17.99% 7.68% 5
Utilities
0.00% -0.13% 4.31% 5.34% 4
Industrials
0.00% -0.83% 11.90% 5.34% 4
Healthcare
0.00% -1.47% 13.44% 4.34% 4
Technology
0.00% -2.37% 18.95% 5.23% 4
Energy
0.00% -0.88% 10.68% 5.45% 4
Communication Services
0.00% -0.57% 8.42% 3.89% 4
Consumer Defense
0.00% -0.34% 13.63% 4.89% 4
Consumer Cyclical
0.00% -0.36% 12.25% 5.67% 4
Basic Materials
0.00% -0.43% 12.15% 5.01% 4

Stock Geographic Breakdown

Weighting Category Low Category High FPCIX % Rank Quintile
US
0.05% -2.87% 90.73% 5.14% 2
Non US
0.01% -1.22% 96.69% 2.95% 1

Bond Sector Breakdown

Weighting Category Low Category High FPCIX % Rank Quintile
Securitized
34.78% 0.00% 105.84% 10.94% 2
Corporate
32.77% 0.00% 221.70% 17.60% 3
Government
23.37% -389.49% 128.09% 12.16% 3
Cash & Equivalents
3.43% -63.55% 416.01% 17.40% 3
Municipal
0.98% 0.00% 105.76% 8.70% 2
Derivative
0.73% -513.07% 38.63% 1.02% 1

Bond Geographic Breakdown

Weighting Category Low Category High FPCIX % Rank Quintile
US
81.16% -370.09% 180.29% 13.99% 3
Non US
13.33% -45.82% 351.70% 13.58% 3

FPCIX - Expenses

Operational Fees

FPCIX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 0.31% 0.00% 42.51% 13.08% 1
Management Fee 0.28% 0.00% 2.15% 3.61% 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

FPCIX Fees (% of AUM) Category Low Category High FPCIX 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

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

FPCIX Fees (% of AUM) Category Low Category High FPCIX Rank Quintile
Turnover 69.00% 0.00% 1856.00% 11.55% 3

FPCIX - Distributions

Dividend Yield Analysis

FPCIX Category Low Category High FPCIX % Rank Quintile
Dividend Yield 0.2% 0.00% 1.30% 16.77% 2

Dividend Distribution Analysis

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

Dividend Payout History


Net Income Ratio Analysis

FPCIX Category Low Category High FPCIX % Rank Quintile
Net Income Ratio 3.00% -1.76% 17.13% 8.75% 1

Capital Gain Distribution Analysis

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

FPCIX - Managers

James L. Herbst

Manager

Start Date

Mar 05, 2013

Tenure

3.66

Tenure Rank

6.2%

James L. Herbst is responsible for directing Prudential Investments' activities as sub-advisor for Amalgamated Bank's LongViewSM Core Bond Index Fund. He is product manager for Prudential's fixed income index strategy and is also a corporate bond portfolio manager. Mr. Herbst joined Prudential Financial in 1985 and has specialized in U.S. fixed income since 1987. He has been a portfolio manager since 1988.


Gregory Pappas

Lead Manager

Start Date

Sep 27, 2007

Tenure

9.1

Tenure Rank

3.2%

Gregory Pappas is a portfolio manager for Strategic Advisers, Inc. (SAI), a unit of Fidelity Investments. Mr. Pappas is responsible for managing the Strategic Advisers Core Income Fund, Strategic Advisers Income Opportunities Fund and the fixed-income subportfolios for Fidelity Portfolio Advisory Service, Envestnet and the Fidelity Charitable Gift Fund. 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.


Franco Castagliuolo

Manager

Start Date

Dec 08, 2014

Tenure

1.9

Tenure Rank

7.6%

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


William Irving

Manager

Start Date

Dec 08, 2014

Tenure

1.9

Tenure Rank

7.6%

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.


Jeffrey Moore

Manager

Start Date

Jan 27, 2011

Tenure

5.76

Tenure Rank

4.8%

Jeffrey Moore is a portfolio manager in the Fixed Income division at Pyramis Global Advisors, a Fidelity Investments company. In this role, he manages investment-grade portfolios across retail and institutional assets, including the Fidelity Investment Grade Bond Fund. Jeff joined the firm as an analyst in 1995 and began managing portfolios in 2000. He also was a fixed income analyst assigned to several sectors including sovereign debt, energy, REITs, Yankee banks, and Canada. Prior to joining the firm, he was a credit analyst following Canadian provincial, municipal, and government debt.


Tenure Analysis

Category Low

0.0

Category High

27.9

Category Average

6.07

Category Mode

4.8