Fidelity Floating Rate High Income  FFRHX
  Morningstar Report
Overall Morningstar
Rating™
What is this?
As of 2009-10-31
Out of
Bank Loan Funds
Rating derived from a weighted average of the fund's 3, 5, 10-year rating which are based on risk-adjusted performance.
Morningstar®
Style Box™
What is this?
   Avg Duration
   0.01 Yrs
   Avg Credit Quality
   BB
As of 2009-07-31
Day Change
$ 0.00
  
NAV (2009-11-10)
$ 9.26
  
YTD Return % (2009-11-10)
25.28%
  
Total Assets ($ mil)
3,859
View Data Definitions
  Performance    
Growth of $10,000 Fund: Fidelity Floating Rate High Income
(from 2002-09-19 to 2009-10-31) Category: Bank Loan
Index: BarCap US Agg Bond TR USD
Total Annualized Returns % 1yr, 3yr and 5yr Returns as of 2009-11-10
Inception date: 2002-09-19 10yr and Inception Returns as of 2009-10-31
YTD Returns as of 2009-11-10
YTD 1 Year 3 Year 5 Year 10 Year Since Inception
Fund 25.52 25.78 2.80 3.71 --- 4.36
+/- Category -12.85 3.20 4.18 2.52 --- ---
+/- BarCap US Agg Bond TR USD 18.61 13.29 -3.65 -1.56 --- ---
Standardized Annual Returns %   more on standardized returns
Quarter-End (as of 2009-09-30) 25.82 9.60 3.22 3.96 --- 4.42
Month-End (as of 2009-10-31) 25.73 20.55 2.98 3.83 --- 4.36
After Tax Returns % (as of 2009-09-30 )  
On Distribution --- 19.03 1.14 1.98 --- ---
On Distribution & Sale of Shares --- 13.24 1.45 2.18 --- ---
Morningstar Rating --- --- --- ---
# of compared funds covered (3 yrs : out of 89 funds), (5 yrs : out of 64 funds), (10 yrs : out of funds). Ratings are based on risk-adjusted performance. The maximum initial sales fee is none, the maximum deferred sales fee is none, and the maximum redemption sales fee is 1.00%.
The performance quoted represents past performance and does not guarantee future results. The investment return and principal value of an investment will fluctuate thus an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted herein.
  Portfolio Profile    
Sector Breakdown %
US Government 0.00
US Treasuries 0.00
TIPS 0.00
US Agency 0.00
Mortgage 0.00
Mortgage Pass-Thru 0.00
Mortgage CMO 0.00
Mortgage ARM 0.00
Credit 75.96
US Corporate 75.70
Asset-Backed 0.22
Convertible 0.04
Municipal 0.00
Corporate Inflation-Protected 0.00
Foreign 5.04
Foreign Corp 5.04
Foreign Govt 0.00
Cash 19.00
Bond Quality % of Bonds
AAA 0.0
AA 0.0
A 0.0
BBB 8.6
BB 44.6
B 26.5
Below B 5.2
Not Rated 15.1
 
Asset Allocation
% of Net Assets
Cash 19.0
Stocks 0.1
Bonds 80.9
Other 0.0
Foreign Stocks 0.1
(as a % of Assets)
Data through 2009-07-31 Data through 2009-07-31
 
Holding Status
Total Number of Stock Holdings 3 Turnover % 16
Total Number of Bond Holdings 351 30 Day SEC Yield % 4.34
% of Assets in Top 10 Holdings 17.28 ending as of 2009-09-30
View Data Definitions
Top 10 Holdings Maturity
Date		 Amount
$000		 Value
$000		 % of Net
Assets
Fidelity Cash Central Fund --- 514,332 514,332 13.04
HCA Inc 2013-11-17 137,256 128,678 3.26
Charter Com Tm B 1LN 4.9% 2014-03-06 105,859 97,390 2.47
Community Health Tm 7/25/14 2014-07-25 101,892 95,779 2.43
Csc Hldgs Inc Term B 2.08% 2013-03-31 85,145 82,488 2.09
Freeport-Mcmoran Copper & Gold FRN 2015-04-01 60,000 57,300 1.45
Univision Comm 2.66% 2014-09-29 67,005 54,107 1.37
Georgia Pac 1st Ln Trm B 12/12 2012-12-20 51,929 49,852 1.26
Nrg Energy Inc Tm Opco 2/01/13 2013-02-01 45,005 42,642 1.08
Celanese Hldg Term 4/02/14 2014-04-02 39,230 37,269 0.94
Data through 2009-07-31
  Other Information
Fund Inception: 2002-09-19
Portfolio Manager  (Start Date)
Christine McConnell  (2002-08-30)
McConnell is vice president and manager of Advisor Floating Rate High Income, which she has managed since September 2002. She also manages another Fidelity fund. McConnell joined Fidelity Investments in 1987 working as a research analyst until 1993. Since rejoining the company in 1994 she has been an equity research analyst and manager.
Sales Charge %
(taken from prospectus dated 2009-02-24)
Front: None
Deferred: None
Expense Ratio % 0.73
based on net assets
(taken from annual report dated 2008-10-31)
Correspondence Information

82 Devonshire St
Boston,  MA  02109
United States
Telephone:
800-544-4774
617-426-6567
Data on this page does not include the fund's short positions (if any).
Show Data Definitions

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Past performance is no guarantee of future results.
Returns will vary and shares may be worth more or less than their original cost when sold.