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FSICX Fidelity® Strategic Income

  • Fund
  • FSICX
  • Price as of: Aug 08, 2016
  • $10.78
  • - $0.00
  • - 0.00%
  • Category
  • Total Bond Market

FSICX - Profile

Vitals

  • YTD Return 6.2%
  • 3 Yr Annualized Return 4.0%
  • 5 Yr Annualized Return 4.1%
  • Net Assets $7.57 B
  • Holdings in Top 10 24.2%

52 WEEK LOW AND HIGH

$10.78
$9.90
$10.78

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.71%

SALES FEES

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

BROKERAGE FEES

  • Turnover 88.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

STANDARD (TAXABLE)

$2,500

IRA

$2,500

Investment Themes

CATEGORY

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

Distributions

  • YTD Total Return 6.2%
  • 3 Yr Annualized Total Return 4.0%
  • 5 Yr Annualized Total Return 4.1%
  • Capital Gain Distribution Frequency None
  • Net Income Ratio 3.85%
DIVIDENDS
  • Dividend Yield 0.4%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name Fidelity® Strategic Income Fund
  • Fund Family Name Fidelity Investments
  • Inception Date May 01, 1998
  • Shares Outstanding N/A
  • Share Class No Load
  • Currency USD
  • Domiciled Country United States
  • Manager Joanna Bewick

Fund Description

The Fidelity Strategic Income Fund (FSICX) is an actively managed fund that seeks to provide a high level of risk-adjusted income to investors. The fund does this by investing in four broad categories of bonds: high yield/junk bonds; U.S. government and investment-grade corporates; emerging-market debt and foreign developed market bonds. FSICX seeks market allocations of around 40%, 30% and 15% for each category, respectively. The fund uses rigorous credit analysis when selecting its holdings and can deviate from the static allocations slightly.

Given its low costs and active approach to income, FSICX makes an ideal subcore position for investors looking for more income from their fixed-income holdings. The fund is managed by Fidelity.

FSICX - Performance

Return Ranking - Trailing

Period FSICX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 6.2% -29.9% 209.8% 5.21% 1
1 Yr 5.1% -15.9% 20.3% 27.43% 2
3 Yr 4.0% * -6.4% 10.4% 25.12% 2
5 Yr 4.1% * -3.4% 9.0% 17.48% 1
10 Yr 6.2% * -1.1% 10.2% 6.42% 1

* Annualized


Return Ranking - Calendar

Period FSICX Return Category Return Low Category Return High Rank in Category (%) Quintile
2015 -5.1% -51.0% 6.6% 58.13% 5
2014 N/A -0.4% 2.9% N/A N/A
2013 N/A -4.9% -0.8% N/A N/A
2012 N/A 0.8% 13.9% N/A N/A
2011 N/A -1.7% 3.8% N/A N/A

Total Return Ranking - Trailing

Period FSICX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 6.2% -8.1% 209.8% 5.30% 1
1 Yr 5.1% -19.0% 20.3% 21.92% 2
3 Yr 4.0% * -7.1% 10.4% 22.22% 2
5 Yr 4.1% * -4.3% 9.0% 15.64% 1
10 Yr 6.2% * -1.1% 10.2% 5.84% 1

* Annualized


Total Return Ranking - Calendar

Period FSICX Return Category Return Low Category Return High Rank in Category (%) Quintile
2015 -5.1% -51.0% 6.6% 58.19% 5
2014 N/A -0.3% 4.5% N/A N/A
2013 N/A -4.6% 0.6% N/A N/A
2012 N/A 1.4% 15.7% N/A N/A
2011 N/A -0.9% 5.5% N/A N/A

NAV & Total Return History

FSICX - Holdings

Filings data as of: Jun 30, 2016

Concentration Analysis

FSICX Category Low Category High FSICX % Rank Quintile
Net Assets 7.57 B 319 K 169 B 2.49% 1
Number of Holdings 644 1 17404 8.95% 2
Net Assets in Top 10 1.09 B -36 B 21.5 B 3.66% 1
Weighting of Top 10 24.2% 0.0% 1826.2% 17.34% 3

Top 10 Holdings

  1. Fidelity Cent Invt Portfolios 9.90%
  2. US Treasury Note 1.25% 2.56%
  3. US Treasury Bond 3.625% 1.86%
  4. US Treasury Note 0.875% 1.72%
  5. US Treasury Note 2% 1.50%
  6. US Treasury Note 2.25% 1.41%
  7. Italy(Rep Of) 4.5% 1.36%
  8. Japan Government 0.1% 12/20/20 1.33%
  9. Japan(Govt Of) 1.9% 1.32%
  10. US Treasury Note 0.094% 1.21%

Asset Allocation

Weighting Category Low Category High FSICX % Rank Quintile
Bonds
78.76% -175.98% 181.87% 22.02% 4
Other
9.90% -15.97% 117.15% 0.92% 1
Cash
9.55% -82.73% 275.92% 13.17% 3
Stocks
1.27% -5.60% 98.06% 2.90% 1
Preferred Stocks
0.52% -0.07% 17.65% 5.49% 2
Convertible Bonds
0.00% 0.00% 18.40% 5.29% 5

Stock Sector Breakdown

Weighting Category Low Category High FSICX % Rank Quintile
Technology
0.67% -3.22% 16.08% 3.07% 1
Consumer Cyclical
0.42% -0.90% 11.86% 3.07% 1
Industrials
0.11% -0.98% 13.17% 4.10% 1
Energy
0.05% -0.88% 10.95% 4.55% 1
Financial Services
0.00% -0.33% 16.93% 8.19% 5
Healthcare
0.00% -0.99% 15.02% 4.32% 4
Real Estate
0.00% -0.41% 16.08% 5.69% 4
Communication Services
0.00% -0.13% 8.73% 4.21% 4
Consumer Defense
0.00% -0.26% 12.32% 5.01% 4
Utilities
0.00% -0.10% 2.90% 5.23% 4
Basic Materials
0.00% -0.43% 11.57% 4.44% 4

Stock Geographic Breakdown

Weighting Category Low Category High FSICX % Rank Quintile
Non US
1.09% -1.18% 97.59% 1.12% 1
US
0.18% -4.66% 90.98% 4.02% 1

Bond Sector Breakdown

Weighting Category Low Category High FSICX % Rank Quintile
Government
43.96% -990.83% 129.84% 3.41% 1
Corporate
22.41% 0.00% 502.59% 24.36% 4
Securitized
11.81% 0.00% 275.57% 24.26% 5
Cash & Equivalents
9.55% -63.55% 811.66% 13.28% 3
Municipal
0.35% 0.00% 106.20% 11.39% 3
Derivative
0.00% -895.14% 18.41% 2.14% 3

Bond Geographic Breakdown

Weighting Category Low Category High FSICX % Rank Quintile
US
39.80% -513.97% 163.91% 27.26% 5
Non US
38.96% -5.42% 399.20% 2.24% 1

FSICX - Expenses

Operational Fees

FSICX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 0.71% 0.00% 42.51% 11.15% 2
Management Fee 0.56% 0.00% 2.15% 2.19% 4
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

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

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

FSICX Fees (% of AUM) Category Low Category High FSICX Rank Quintile
Turnover 88.00% 0.00% 1944.00% 10.13% 3

FSICX - Distributions

Dividend Yield Analysis

FSICX Category Low Category High FSICX % Rank Quintile
Dividend Yield 0.4% 0.00% 1.30% 8.01% 1

Dividend Distribution Analysis

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

Dividend Payout History


Net Income Ratio Analysis

FSICX Category Low Category High FSICX % Rank Quintile
Net Income Ratio 3.85% -1.76% 17.13% 4.43% 1

Capital Gain Distribution Analysis

FSICX Category Low Category High Capital Mode
Capital Gain Distribution Frequency None Annually Daily Annually

FSICX - Managers

Joanna Bewick

Lead Manager

Start Date

Apr 01, 2008

Tenure

8.34

Tenure Rank

3.5%

Joanna Bewick is a portfolio manager in the Global Asset Allocation group at Fidelity Investments. In this role, Joanna serves as the lead portfolio manager on the Strategic Family of Funds. Before joining Fidelity in 1997, Joanna was a fixed income analyst at Federated Investors from 1990 to 1997. She has been in the investments industry since 1990. Joanna earned her degree in accounting from Ohio University and her MBA in finance from Katz Graduate School of Business at the University of Pittsburgh. She is also a CFA charterholder.


David Simner

Manager

Start Date

Jul 31, 2007

Tenure

9.01

Tenure Rank

3.1%

David Simner joined Fidelity in 1996 as a Quantitative Analyst and progressed to become the Director of Quantitative Research in 2003 and a Portfolio Manager in 2007. Prior to joining Fidelity, he was with NatWest as a Quantitative Developer and with KPMG as an IT Consultant. In addition to managing Fidelity’s main European fixed income range since 2009, David has been responsible for the global fixed income portfolios since 2007. David holds a BSc (Hons) in Computing Science from Imperial College.


Franco Castagliuolo

Manager

Start Date

Dec 31, 2009

Tenure

6.59

Tenure Rank

4.4%

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


Jonathan Kelly

Manager

Start Date

Apr 01, 2002

Tenure

14.34

Tenure Rank

1.5%

Kelly has been a portfolio manager and international fixed-income and foreign exchange analyst with Fidelity Investments since October 1993. He joined the firm in 1991 as an analyst. Previously, he was a summer intern in quantitative research for Goldman Sachs Asset Management in 1990. From 1986 to 1990, he served as an assistant vice president for quantitative strategy for Paribas Asset Management. Prior to that, he spent a year as a consultant for Data Resources.


Ford E. O'Neil

Lead Manager

Start Date

Jun 15, 2012

Tenure

4.13

Tenure Rank

5.8%

Ford O’Neil is a portfolio manager in the Fixed Income division at Fidelity Management & Research Company, the investment advisor for Fidelity’s family of mutual funds. In this role, he manages various retail and institutional taxable bond funds/portfolios. Prior to assuming his current position in August 1992, Ford worked as an analyst in Asset Management. Ford earned his Bachelor of Arts in government from Harvard College and his MBA from The Wharton School at the University of Pennsylvania.


Mark Notkin

Manager

Start Date

Apr 30, 1999

Tenure

17.27

Tenure Rank

0.9%

Mr. Notkin is a vice president and co-manager of Fidelity Investments. Since joining Fidelity in 1994, he has worked as a research analyst and portfolio manager.


William Irving

Manager

Start Date

Apr 30, 2008

Tenure

8.26

Tenure Rank

3.5%

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

27.6

Category Average

5.91

Category Mode

1.6