Fixed Income Analysis Tool

The Fidelity Fixed Income Analysis Tool can help you manage cash flow, understand the composition of your fixed income portfolio, and estimate how interest rate changes may affect the value of your individual positions, hypothetical positions, and your overall portfolio.

Key features

Fixed income positions

View holdings by portfolio, account, or list. Sort positions by maturity.

See positions that are maturing or may be called in the next 30 days (these positions will appear in bold).

Group positions into any number of lists (e.g., tax-exempt, corporate).

Create lists using Fidelity holdings, outside holdings, and hypothetical positions.

Add positions held outside of Fidelity by importing an Excel spreadsheet or hypothetical positions discovered in a bond search.

Import a potential bond ladder to assess the impact on your fixed income portfolio.

Create and print a customized PDF report of your existing portfolio view (Fidelity and outside positions).

Summary calculations

For bonds and CDs, scan summary calculations for total market value, total par value, average price, average maturity-years, average estimated yield, annual interest income, and average coupon rate.

Cash flow calculations

Cash distribution for bonds and CDs

View the historical and hypothetical future income of your interest payment and principal return in your Fidelity, outside, or hypothetical portfolio. View cash flow distribution as either a graph or table and sort by monthly or annual distribution. You can also see historical and hypothetical cash distribution by bond or CD position, credit ratings, issuer events, or taxability.

Fixed Income Illustrator for bonds, CDs and bond mutual funds

Use the Fixed Income Illustrator to view the hypothetical income for the current calendar year. View the historical and hypothetical future income principal and interest payments for bonds and CDs. For bond funds held at Fidelity, view the historical distributions for the prior months. For Fidelity held, outside, and hypothetical bond funds, it also displays a Hypothetical Portfolio Income for the current month to the end of the year. Results are calculated using one of three methods you input into the tool: 30-day yield, Indicated Annual Dividend (IAD), or a custom yield. The tool displays a total for each product type and a combined total of the portfolio assets.

Bond Fund Income Illustrator

Use the Bond Fund Income Illustrator chart to illustrate historical distributions and hypothetical future income for your bond fund portfolio—whether held by Fidelity, outside or hypothetical. For bond funds held at Fidelity, the tool will display actual fund distributions from previous months. However, income calculations for the current month and until the end of the year are hypothetical calculations and based on the yield type you selected. You have the option of applying a 30-day yield, IAD, or a custom yield. Your selected method will be used for all bond funds in your portfolio—whether held at Fidelity, outside or hypothetical.

Analytics

The analytics tab includes charts to help you identify different types of risk or diversification opportunities within your portfolio.

Bonds and CDs

  • Credit rating: see the current Moody's or S&P credit rating distribution for your portfolio.
  • Taxability: identify the percentage of your positions that are federally taxable or tax-exempt.
  • Sector exposure: view your corporate bond holdings by sector.
  • Type: see your positions categorized by fixed income security type.
  • Alternative Minimum Tax (AMT): learn which municipal bond positions are expected to generate interest subject to federal AMT.
  • Use of proceeds: view your municipal bond positions according to whether they are general obligation or revenue bonds, as well as what type of projects are funded by your revenue bonds.
  • Duration: get an estimate of how much a bond's price may fluctuate with changes in interest rates.
  • Overall MorningstarTM Rating: view bond fund positions aggregated by Overall MorningstarTM Rating.
  • Underlying ratings: view your municipal bond holdings according to the ratings of the underlying issuers.
  • State exposure: view your municipal bond positions according to the states in which they were issued.
  • Issuer concentration: identify opportunities for diversification when you view your positions categorized by issuer.

Bond funds

  • Credit quality: view the distribution of credit rating assigned to the underlying holdings of each bond fund.
  • Taxability: identify the percentage of your positions that are federally taxable or tax-exempt.
  • Duration: view the duration distribution (measured in years) of the underlying holdings of each bond fund owned.
  • Overall MorningstarTM Rating: view bond fund positions aggregated by Overall MorningstarTM Rating.
  • U.S. vs. foreign exposure: review the percentage of bond fund assets invested in U.S.-based or international issuers.
  • Country diversification: view your bond fund assets according to the countries in which they were issued.
  • Portfolio diversification: see your assets by sector and industry.
  • Use of proceeds: view asset allocation and types of municipal bonds held within the portfolio.
  • Revenue source diversification (Fidelity funds only): view the revenue sources across the municipal bond portfolio.
  • Alternative Minimum Tax (AMT): understand which bond fund positions may generate interest subject to federal AMT.
Interest Rate Sensitivity

The Interest Rate Sensitivity illustrator estimates the potential impact of interest rate changes on both the value of your individual fixed income positions and your overall portfolio.

Bonds and CDs

Use this tool to model the potential impact of interest rate changes on both the value of your individual bond and CD positions and your overall portfolio.

Duration is a measure that helps estimate the amount the price of a bond will rise or fall in response to changes in interest rates. For bonds with embedded options (for example callable or puttable bonds), the duration measure must be adjusted to account for the fact that the bond's embedded options may change the expected cash flows of the bond. The Option-Adjusted Duration (OAD) calculation is used to determine how much each position's value may be impacted by a change in interest rates.

Bond funds

The Interest Rate Sensitivity Illustrator for Bond Funds demonstrates how a 1% move in interest rates could impact a fund’s net asset value. Since changes in interest rates impact bond funds differently than bonds and CDs, estimates of price sensitivity may be less accurate the larger the shift in interest rates.

The Bond Fund Interest Rate Sensitivity Illustrator also allows you to hypothetically add or remove funds from your portfolio to see the estimated impact on the portfolio's Weighted Average Duration and value within the 1% rate change limit.