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FFRHX Fidelity® Floating Rate High Income

  • Fund
  • FFRHX
  • Price as of: Sep 16, 2019
  • $9.49 + $0.02 + 0.21%

FFRHX - Profile

Vitals

  • YTD Return 3.2%
  • 3 Yr Annualized Return -0.1%
  • 5 Yr Annualized Return -0.8%
  • Net Assets $10 B
  • Holdings in Top 10 12.2%

52 WEEK LOW AND HIGH

$9.49
$9.19
$9.66

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.68%

SALES FEES

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

BROKERAGE FEES

  • Turnover 47.00%

TRADING FEES

  • Max Redemption Fee 1.00%

Min Investment

STANDARD (TAXABLE)

$0

IRA

$2,500

Fund Classification

PRIMARY CATEGORY

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

Distributions

  • YTD Total Return 3.2%
  • 3 Yr Annualized Total Return 0.0%
  • 5 Yr Annualized Total Return -0.7%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 4.44%
DIVIDENDS
  • Dividend Yield 2.6%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name Fidelity Advisor® 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 (%)
YTD 3.2% -1.3% 3.9% 26.72%
1 Yr -1.6% -6.2% 0.2% 20.58%
3 Yr -0.1%* -1.9% 1.7% 26.09%
5 Yr -0.8%* -17.3% -0.1% 38.12%
10 Yr 0.2%* -9.1% 1.0% 53.09%

* Annualized


Return Ranking - Calendar

Period FFRHX Return Category Return Low Category Return High Rank in Category (%)
2018 -4.4% -6.4% 0.1% 34.05%
2017 -0.2% -2.7% 2.5% 46.48%
2016 5.6% -0.4% 7.9% 28.93%
2015 -5.1% -10.4% -0.8% 52.75%
2014 -3.4% -60.1% 0.2% 59.22%

Total Return Ranking - Trailing

Period FFRHX Return Category Return Low Category Return High Rank in Category (%)
YTD 3.2% -1.3% 4.3% 28.34%
1 Yr -1.4% -6.2% 1.8% 26.34%
3 Yr 0.0%* -1.8% 5.0% 36.71%
5 Yr -0.7%* -17.3% 3.0% 41.44%
10 Yr 0.4%* -9.1% 3.8% 43.21%

* Annualized


Total Return Ranking - Calendar

Period FFRHX Return Category Return Low Category Return High Rank in Category (%)
2018 -4.2% -6.4% 2.5% 37.07%
2017 -0.2% -1.6% 7.2% 48.83%
2016 5.6% -0.1% 11.5% 37.56%
2015 -5.1% -8.8% 1.6% 59.89%
2014 -3.0% -60.1% 2.4% 55.31%

NAV & Total Return History

FFRHX - Holdings

Concentration Analysis

FFRHX Category Low Category High FFRHX % Rank
Net Assets 10 B 11.4 M 10.4 B 7.60%
Number of Holdings 434 28 1133 20.47%
Net Assets in Top 10 1.33 B -308 K 1.48 B 3.54%
Weighting of Top 10 12.21% 5.3% 83.9% 35.43%

Top 10 Holdings

  1. Bass Pro Escrow Trm B 09/25/24 2.77%

  2. Charter Comm Term B 4/30/25 1.53%

  3. Caesars Resort Trm B 1ln 12/24 1.24%

  4. Intelsat Term B-3 11/27/23 1.24%

  5. Frontier Com Trm B 1ln 6/15/24 1.07%

  6. Golden Nugget Term B 1ln 10/23 1.00%

  7. Micro Focus Term B-3 06/21/24 0.91%

  8. Formula One Term B New 2/01/24 0.84%

  9. Asurion Term B2 2ln 08/04/25 0.83%

  10. Lineage Logistics Term B 02/25 0.80%


Asset Allocation

Weighting Return Low Return High FFRHX % Rank
Bonds
93.76% 86.62% 101.89% 68.50%
Cash
5.55% -2.10% 12.30% 27.56%
Stocks
0.69% 0.00% 4.07% 19.29%
Preferred Stocks
0.00% 0.00% 0.67% 94.49%
Other
0.00% -5.62% 8.69% 88.98%
Convertible Bonds
0.00% 0.00% 1.99% 94.88%

Stock Sector Breakdown

Weighting Return Low Return High FFRHX % Rank
Energy
0.24% 0.00% 0.53% 4.81%
Basic Materials
0.20% 0.00% 2.59% 17.79%
Utilities
0.00% 0.00% 0.40% 96.15%
Technology
0.00% 0.00% 0.00% 96.15%
Real Estate
0.00% 0.00% 0.15% 96.15%
Industrials
0.00% 0.00% 0.49% 96.15%
Healthcare
0.00% 0.00% 0.09% 96.15%
Financial Services
0.00% 0.00% 0.33% 96.15%
Communication Services
0.00% 0.00% 0.01% 96.15%
Consumer Defense
0.00% 0.00% 0.02% 96.15%
Consumer Cyclical
0.00% 0.00% 1.21% 98.56%

Stock Geographic Breakdown

Weighting Return Low Return High FFRHX % Rank
US
0.45% 0.00% 4.07% 30.31%
Non US
0.24% 0.00% 0.43% 5.91%

Bond Sector Breakdown

Weighting Return Low Return High FFRHX % Rank
Corporate
93.76% 0.00% 99.91% 52.76%
Cash & Equivalents
5.55% -2.10% 12.30% 27.56%
Derivative
0.00% -0.04% 1.89% 88.19%
Securitized
0.00% 0.00% 98.61% 96.06%
Municipal
0.00% 0.00% 96.42% 94.49%
Government
0.00% -13.14% 8.57% 93.70%

Bond Geographic Breakdown

Weighting Return Low Return High FFRHX % Rank
US
82.37% 40.89% 99.91% 30.31%
Non US
11.39% 0.00% 55.45% 66.93%

FFRHX - Expenses

Operational Fees

FFRHX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.68% 0.01% 3.39% 88.84%
Management Fee 0.56% 0.00% 1.00% 32.28%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.02% 0.40% N/A

Sales Fees

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

Trading Fees

FFRHX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee 1.00% 1.00% 2.00% 90.48%

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 Return Low Category Return High Rank in Category (%)
Turnover 47.00% 9.00% 178.00% 39.92%

FFRHX - Distributions

Dividend Yield Analysis

FFRHX Category Low Category High FFRHX % Rank
Dividend Yield 2.60% 0.00% 7.80% 54.33%

Dividend Distribution Analysis

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

Dividend Payout History


Net Income Ratio Analysis

FFRHX Category Low Category High FFRHX % Rank
Net Income Ratio 4.44% 1.33% 7.64% 40.91%

Capital Gain Distribution Analysis

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

FFRHX - Managers

Eric Mollenhauer

Manager

Start Date

Tenure

Tenure Rank

Apr 01, 2013

6.42

6.4%

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.


Kevin Nielsen

Manager

Start Date

Tenure

Tenure Rank

Nov 30, 2018

0.75

0.8%

Kevin Nielsen joined Fidelity Investments in 2006. Mr. Nielsen has worked as a research analyst and portfolio manager.


Tenure Analysis

Category Low

0.0

Category High

23.01

Category Average

5.72

Category Mode

1.92