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A High-Quality Core Bond Portfolio at a Reasonable Price

Although not for interest-rate bears, Fidelity Investment Grade Bond has a solid structure to find opportunities in the fixed-income market.


Emory Zink: Silver-rated Fidelity Investment Grade Bond focuses on the investment-grade sectors that make up the Barclays U.S. Aggregate Bond Index. The fund can hold up to 10% in noninvestment-grade fare, and this flexibility is typically exercised to acquire fallen angels--which are BB plus-rated bonds that are undervalued and have a strong probability of moving up the ratings scale to a BBB.

Long-tenured manager Jeff Moore recently welcomed Michael Plage as a co-portfolio manager on the fund. Both provide significant experience gleaned on Fidelity's Core Fixed Income team, and, coupled with the tools and deep resources at Fidelity, provide a solid structure in which to identify relative-value opportunities in temporarily beaten-down sectors of the market.

Emory Zink does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.