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.
The views and opinions expressed by the speakers are their own and do not necessarily represent the views of Fidelity Investments or its affiliates. Any such views are subject to change at any time based on market or other conditions, and Fidelity disclaims any responsibility to update such views. These views should not be relied on as investment advice, and, because investment decisions are based on numerous factors, may not be relied on as an indication of trading intent on behalf of any Fidelity product.
Neither Fidelity nor the speakers can be held responsible for any direct or incidental loss incurred by applying any of the information offered. Please consult your tax or financial adviser for additional information concerning your specific situation.
The municipal market can be affected by adverse tax, legislative or political changes and the financial condition of the issuers of municipal securities.
Preferred securities are subject to interest-rate risk, credit and default risks for both issuers and counterparties, liquidity risk, and, if callable, call risk. Dividend or interest payments on preferred securities may be variable, suspended, or deferred by the issuer at any time, and missed or deferred payments may not be paid at a future date.
Investments in mortgage securities are subject to prepayment risk, which can limit the potential for gain during a declining interest rate environment and increase the potential for loss in a rising interest rate environment.
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 holding them until maturity to avoid losses caused by price volatility is not possible.
Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes because of potential changes in the credit quality of the issuer.
Fidelity is not recommending or endorsing any investment by making it available to its customers.
Past performance is no guarantee of future results. Current and future portfolio holdings are subject to risk.
Diversification and asset allocation does not ensure a profit or guarantee against loss.
Stock markets are volatile and can fluctuate significantly in response to company, industry, political, regulatory, market, or economic developments. Investing in stock involves risk, including the possible loss of principal.
Foreign markets can be more volatile than U.S. markets due to increased risks of adverse issuer, political, market or economic developments, all of which are magnified in emerging markets. These risks are particularly significant for funds that focus on a single country or region.
Indexes are unmanaged. It is not possible to invest directly in an index.
The S&P 500® Index is a registered service mark of Standard & Poor's Financial Services LLC.
The S&P 100 Index, a sub-set of the S&P 500® Index, measures the performance of large-cap companies in the United States. The Index comprises 100 major blue-chip companies across multiple industry groups.
Credit ratings are forward-looking opinions about credit risk. Standard & Poor’s defines an AA rating as a very strong capacity to meet financial commitments, and an A rating as a strong capacity to meet financial commitments, but somewhat susceptible to adverse economic conditions and changes in circumstances.
Certain investment firms whose funds are available through the FundsNetwork® program for Fidelity were offered the opportunity to participate in this event. Fidelity considered a variety of factors when making the final firm selection. Firms may compensate Fidelity for participating in this event, including reimbursement for expenses.
Portfolio Review is an educational tool.
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