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Fidelity GNMA fund ranked among best

U.S. News & World Report names Best Intermediate Government Bond mutual funds.

  • 04/26/2013
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Fidelity's GNMA Fund has been nominated by U.S. News & World Report as one of the Best Intermediate Government Bond mutual funds. Below is an overview of the Intermediate Government category and link to the award.

Intermediate-government portfolios have at least 90% of their bond holdings in bonds backed by the U.S. government or by government-linked agencies. This backing minimizes the credit risk of these portfolios, as the U.S. government is unlikely to default on its debt. These portfolios have durations between 3.5 and six years (or, if duration is unavailable, average effective maturities between four and 10 years). Consequently, the group's performance—and its level of volatility—tends to fall between that of the short government and long government bond categories.

Read the full article from U.S. News & World Report.

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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.
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. Leverage can increase market exposure and magnify investment risk.
The U.S. News Mutual Fund Score is produced using an equal weighting of the overall ratings provided by our data sources. Individual fund rating systems are normalized to a 100-point scale based on point totals assigned to individual scoring systems. For Morningstar's and S&P's five-star ranking and Zacks five-point scale, each star or point awarded would receive 20 points. In TheStreet.com's A-to-E scale, a highly rated "A" fund would receive 100 points, while a low-rated "E" would receive 20 points. The five Lipper Leader categories are each worth a total of 20 points, giving 4 points to each 1-to-5 point scale assigned to each section of the Lipper rankings. The U.S. News score is calculated by dividing total points awarded according to the above system by the number data sources (5). The combined U.S. News Mutual Fund Score ranks funds numerically based on this score. Funds with identical scores to one decimal place are awarded the same numerical ranking.
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