Income-Producing Fidelity Fund Picks^®

These funds are typically composed of investment grade bonds issued by governments and corporations or secured by assets such as home mortgages. All fund yields are subject to taxes at the local, state, or federal level, and in some cases, a combination of all these.

These funds invest in bonds issued by state governments and municipalities. While yields may be somewhat lower in comparison to other funds, all yields are typically free from federal income taxes.

These funds invest primarily in lower credit quality securities, including convertible securities. While these funds have the potential to provide high income and total returns, they are riskier and more volatile than their investment grade counterparts.

These funds invest in stocks that pay high dividends. This strategy, known as equity income investing, can be an attractive alternative to bond investing as it seeks to offer greater protection against inflation as well as potential for capital appreciation.

Research equity income funds in Fidelity Fund Picks.*

These funds offer exposure to a variety of asset types. This strategy can provide diversification and seeks to reduce the impact of market volatility, and provide a source of income as well as an opportunity for capital appreciation.

Research asset allocation funds in Fidelity Fund Picks.*

These funds invest in securities issued by companies from around the world, including those based in emerging markets. The main distinction between global and international bond funds is that the former invests in U.S. securities whereas as international bond funds do not.

Research international and global bond funds in Fidelity Fund Picks.*

These funds invest primarily in bonds issued by countries with smaller, less developed economies, or by corporations headquartered in developing countries. While these types of bonds generally represent higher risk than those from developed nations, the risk profile of each fund will vary according to the credit quality of the individual bonds held by that fund.

Research emerging market bond funds in Fidelity Fund Picks.*