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Fidelity Short Duration Fund Options

In today's market environment, investors need, more than ever, to understand the range of short duration strategies available. Fidelity offers a wide selection of short duration mutual funds that can help investors in a low and/or rising rate period.

Higher credit quality

Conservative Income Bond Funds

Funds for investors whose investment time frame is at least  6–12 months. Choose between taxable and municipal funds, with a typical weighted average maturity of one year or less. Learn more about Conservative Income Bond Funds.

Research Conservative Income Bond Funds:

Short-Term Bond Fund

A bond fund that maintains a weighted average maturity of three years or less.

Research the Fidelity® Short-Term Bond Fund.

Limited Term Bond Funds

Funds for investors who have an investment time frame of two to five years. Choose among four funds—two taxable and two municipal—that aim to provide a high level of income and capital preservation. Learn more about Limited Term Bond Funds.

Research Limited Term Bond Funds:

Short-Term Treasury Index Funds

Funds that seek to replicate the performance of the Barclays 1–5 Year U.S. Treasury Index. Choose between two passive index funds—Investor Class with a $2,500 minimum investment and Advantage Class with a $10,000 minimum investment.

Research the Spartan® Short-Term Treasury Bond Index Fund (Investor Class and Advantage Class).

Defined Maturity Funds

A series of municipal bond funds that shorten in duration as they approach their defined maturity date. Learn more about Fidelity Defined Maturity Funds.

Lower credit quality

The non-investment grade securities in which these funds primarily invest can potentially provide income and total returns higher than those of similar securities rated investment-grade. However, these high yield funds also have the potential for greater volatility and risk of loss, and should not be considered equivalent to cash investments.

Floating Rate High Income Fund

Seeks to provide a high level of current income by investing primarily in lower credit quality floating rate bank loans—also known as leveraged loans—whose interest rates reset frequently. Learn more about the Fidelity Floating Rate High Income Fund.

Research the Fidelity Floating Rate High Income Fund.

Short Duration High Income Fund

Aims to provide investors with a way to shorten the duration of their allocation to high yield debt through a fund that normally maintains an average duration of three years or less by investing primarily in lower quality bonds and floating rate bank (also known as leveraged) loans. Learn more about the Short Duration High Income Fund.

Research the Fidelity Short Duration High Income Fund.

Fidelity fund manager insights


From our experts

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.
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 them until maturity is not possible.
The municipal market is volatile and can be significantly affected by adverse tax, legislative or political changes and the financial condition of the issuers of municipal securities.
Defined Maturity Funds are not designed for investors seeking a stable NAV or guaranteed income.
Lower-quality bonds can be more volatile and have greater risk of default than higher-quality bonds.
Floating rate loans may not be fully collateralized and therefore may decline significantly in value.
Fixed income investments entail interest rate risk (as interest rates rise bond prices usually fall), the risk of issuer default, issuer credit risk and inflation risk. Foreign securities are subject to interest rate, currency exchange rate, economic, and political risks.