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Fidelity® Total Bond Fund FTBFX

Analyst rating as of
NAV / 1-Day Return
9.30  /  0.53 %
Total Assets
28.1 Bil
Adj. Expense Ratio
0.450%
Expense Ratio
0.450%
Fee Level
Below Average
Longest Manager Tenure
17.84 years
Category
Intermediate Core-Plus Bond
Credit Quality / Interest Rate Sensitivity
Medium / Moderate
Min. Initial Investment
0
Status
Open
TTM Yield
3.00%
Effective Duration
6.17 years

Morningstar’s Fund Analysis FTBFX

Will FTBFX outperform in future?

Get our overall rating based on a fundamental assessment of the pillars below.

Manager Roster Changes on Fidelity Total Bond; Ratings Unchanged

Senior Analyst

Analyst Note

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On Oct. 3, 2022, Fidelity announced the appointment of Celso Munoz as co-lead portfolio manager alongside Ford O'Neil on Fidelity Total Bond. This move, which was implemented on Oct. 1, is sensible succession planning, in our view, and supports the strategy's High People rating. After working closely with O'Neil for five years as comanager on these funds, Munoz has long been the heir apparent to O'Neil. This does not indicate an imminent retirement for O'Neil, but the firm is effectively communicating a clear future succession plan to investors. In addition, Franco Castagliuolo, a senior securitized portfolio manager, has been named comanager on Fidelity Total Bond and Fidelity Total Bond ETF FBND. These appointments are more a recognition of the solid work Munoz and Castagliuolo have been contributing rather than a significant shift in responsibilities. As a result, both funds retain their Morningstar Analyst Ratings.

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