Before investing in any mutual fund or exchange-traded fund, you should consider its investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus, an offering circular, or, if available, a summary prospectus containing this information. Read it carefully.
* The Fund Evaluator is provided to help self-directed investors evaluate mutual funds based on their own needs and circumstances. The criteria entered is at the sole discretion of the user and any information obtained should not be considered an offer to buy or sell, a solicitation of an offer to buy, or a recommendation for any securities. You acknowledge that your requests for information are unsolicited and shall neither constitute, nor be considered as investment advice by Fidelity Brokerage Services, LLC., Fidelity Distributors Corporation, or their affiliates (collectively, "Fidelity").
Total returns are historical and include change in share value and reinvestment of dividends and capital gains, if any.
Diversification does not ensure a profit or guarantee against loss.
In general, the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk, liquidity risk, call risk, and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding onto them until maturity is not possible.
Lower-quality bonds can be more volatile and have greater risk of default than higher-quality bonds. Foreign securities are subject to interest rate, currency exchange rate, economic, and political risks, all of which are magnified in emerging markets. Leverage can increase market exposure and magnify investment risk.
ETFs are subject to market fluctuation and the risks of their underlying investments. ETFs are subject to management fees and other expenses.
Indexes are unmanaged. It is not possible to invest directly in an index.
The Gross expense ratio is the total annual fund operating expense ratio from the fund's most recent prospectus.
The net expense ratio is the total annual operating expense from the fund's most recent prospectus after any fee waiver and/or expense reimbursements that will reduce any fund operating expenses for no less than one year from the effective date of the fund's registration statement. This number does not include any fee waiver arrangement or expense reimbursement that may be terminated without agreement of the fund's board of trustees during the one-year period.
The Bloomberg (BBg) U.S. Aggregate Index is an unmanaged market value-weighted performance benchmark for the U.S. dollar denominated investment-grade fixed-rate debt issues, including government, corporate, asset-backed, and mortgage-backed securities with maturities of at least one year.
1. The Morningstar Medalist RatingTM is a forward-looking analysis that considers a combination of qualitative and quantitative factors. Morningstar evaluates three key pillars when assessing a fund: People, Parent, and Process, coupled with a fee assessment. The Medalist Rating uses a scale of Gold (highest), Silver, Bronze, Neutral, and Negative (lowest). For the full rating methodology, please view .
2. Morningstar nominated Ford O’Neil for its 2024 U.S. Outstanding Portfolio Manager Award for Fidelity Total Bond Fund (FTBFX). Each year, Morningstar recognizes an Outstanding Portfolio Manager, an individual or team who has produced exceptional returns over the long term. To qualify for the award, the manager’s strategy must currently earn a Morningstar Medalist Rating™ of Gold or Silver for at least one vehicle and/or share class. For the full Morningstar awards methodology, go to https://images.mscomm.morningstar.com/Web/MorningstarInc/%7B9cec88d3-61e1-42d2-87d2-c59f55c11cce%7D_Morningstar_Awards_for_Investing_Excellence_-_Global_Methodology_-_2024.pdf
For the .
Percent Rank in Category is the fund's total-return percentile rank relative to all funds that have the same Morningstar Category. The highest (or most favorable) percentile rank is 1 and the lowest (or least favorable) percentile rank is 100. The top-performing fund in a category will always receive a rank of 1. % Rank in Category is based on total returns which include reinvested dividends and capital gains, if any, and exclude sales charges.
The Morningstar Category Average is the average return for the peer group based on the returns of each individual fund within the group, for the period shown. This average assumes reinvestment of dividends.
©Morningstar, Inc. All rights reserved. The Morningstar information contained herein (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or redistributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Fidelity does not review the Morningstar data and, for mutual fund performance, you should check the fund's current prospectus for the most up-to-date information concerning applicable loads, fees, and expenses.
Learn about the merits of active management in fixed income investing from Portfolio Manager Ford O'Neil.
