Income meets opportunity

The flexible approach of the Fidelity® Capital & Income Fund might be a strategy to consider.

5 starsOverall Morningstar Rating—out of 606 High Yield Bond Funds*

Rating as of 3/31/24

The Overall Morningstar Rating for a fund is derived from a weighted average of the performance figures associated with its 3-, 5-, and 10-year (if applicable) Morningstar Rating metrics, which are based on risk-adjusted returns. Past performance is no guarantee of future results.

Fidelity Capital & Income Fund ()

The fund invests primarily in bonds issued by non-investment grade companies. However, in the search for income and total return, fund management also has the flexibility to invest in stocks and other types of income-generating securities based on market outlook, becoming more defensive or opportunistic as conditions warrant.

  • Flexible yet disciplined investment approach, backed by Fidelity's in-depth research, allows the fund to take advantage of a wide range of opportunities.
  • Exposure to stocks offers the potential for capital appreciation and diversification when compared to holding bonds exclusively.
  • Potential for higher income and lower interest rate risk may be an advantage over conventional investment grade bond funds, although volatility may be higher.

Fidelity fund manager insights

Hear Portfolio Manager Mark Notkin discuss the Fidelity Capital & Income Fund, and his investment philosophy.

Watch the video (4:01)