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Morningstar

Fidelity® High Income SPHIX

Morningstar Analyst Rating
Analyst rating as of
  • NAV / 1-Day Return 7.52  /  0.12 %
  • Total Assets 2.9 Bil
  • Adj. Expense Ratio
    —
  • Expense Ratio 0.700%
  • Distribution Fee Level Below Average
  • Share Class Type No Load
  • Category High Yield Bond
  • Credit Quality / Interest Rate Sensitivity —
  • Min. Initial Investment 0
  • Status Open
  • TTM Yield 5.18%
  • Effective Duration —

USD | NAV as of Jan 27, 2023 | 1-Day Return as of Jan 27, 2023, 11:16 PM GMT+00:00

Morningstar’s Analysis SPHIX

Will SPHIX outperform in future?

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

Process Pillar

The Process Pillar is our assessment of how sensible, clearly defined, and repeatable SPHIX’s performance objective and investment process is for both security selection and portfolio construction.

People Pillar

The People Pillar is our evaluation of the SPHIX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.

Parent Pillar

The Parent Pillar is our rating of SPHIX’s parent organization’s priorities and whether they’re in line with investors’ interests.

Struggling to prove its edge in recent years.

Analyst

Summary

| by Sam Kulahan

Fidelity High Income is led by an experienced and deep team, but execution challenges have led to it struggling to deliver a core high-yield profile in recent years. As a result, its cheapest shares receive a Morningstar Analyst Rating downgrade to Neutral from Bronze, while its priciest share class receives a Negative rating.

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