• This fund invests primarily in US high yield bonds.
  • The fund is subject to investment, foreign currency risk, the risks of investing in securitised or structured debt instruments and loans. This fund may invest in bonds or debt securities which may be subject to credit, liquidity, counterparty and market risks. The fund will invest in non-investment grade bonds and unrated securities which may be subject to greater credit and liquidity risks, and may be more volatile than higher rated securities.
  • This fund can invest in derivative instruments which may involve additional risks (For example, leverage may cause greater volatility).
  • Dividend of certain share classes, at the Board’s discretion, may be 1) paid out of gross income, i.e. the fund may pay dividend effectively out of capital; or 2) paid directly out of capital where the net income generated by the fund is insufficient to pay a distribution as declared (For MCDIST share class, payment will be made out of capital). This will represent a return or withdrawal of part of the amount they originally invested or from any capital gains attributable to the original investment. This may result in an immediate decrease in the fund’s NAV per share.
  • Investors may suffer substantial loss of their investments in the fund. Investor should not invest in the fund solely based on the information provided in this document and should read the prospectus (including potential risks involved) for details.

Fidelity Funds - US High Yield Fund A-MDIST-USD

0.09%
0.01
  • Price date: 14/11/2018
  • Morningstar rating: 4 out of 5 stars
  • Risk rating+: 3

Performance & NAV

Annual performance Total return (%)

<span>Annual performance</span> Total return (%)
2017201620152014201320122011201020092008
7.8913.54-3.753.175.0714.711.7714.3751.66-25.34

Morningstar benchmark (%)

Morningstar benchmark (%)
2017201620152014201320122011201020092008
7.5017.13-4.472.457.4415.814.9815.1258.21-26.16

Cumulative return Fund (%)

<span>Cumulative return</span> Fund (%)
YTD6 mths1 yr3 yrs5 yrs
0.040.520.5217.2122.73

Morningstar category (%)

Morningstar category (%)
YTD6 mths1 yr3 yrs5 yrs
-0.090.230.0514.6115.87

Morningstar benchmark (%)

Morningstar benchmark (%)
YTD6 mths1 yr3 yrs5 yrs
0.931.140.9721.1325.69

As of 31/10/2018, based on latest unit NAV of most recent calendar month.

Fund details

Investment objective

The fund seeks a high level of current income and capital appreciation by investing primarily in high-yielding, lower-quality securities of issuers that have their principal business activities in the United States. This fund will suit those investors seeking high income and capital appreciation and who are prepared to accept the risks associated with this type of investment. The type of debt securities in which the fund will primarily invest will be subject to high risk, will not be required to meet a minimum rating standard and may not be rated for creditworthiness by any internationally recognised rating agency.

About this fund
Fund details as of31 Oct 2018
Denominated currencyUSD
Fund launch date05 Sep 2001
Class launch date09 Jun 2003
Class launch price10.02 USD
Fund size3,483.94 million
IndexICE BofAML US HY Constnd TR USD
Morningstar BenchMarkBBgBarc US Corporate High Yield TR USD
Morningstar CategoryUSD High Yield Bond
Unique Identifiers
ISIN
LU0168057262
Bloomberg ticker
FFEUBAM LX
PhoneXpress code
1005
Fund manager
Fund manager
(Start date)
Harley J Lank
(08 May 2003)
Fund Fees
Sale ChargesUp to 3.50%
Annual management feeUp to 1.00%

There are other fees and charges for the fund and please refer to the prospectus for details.

Volatility Measures
R-Squared
0.95
Beta
0.95
Alpha
-0.81
3 years standard deviation

As of 31/10/2018

4.84%
Risk rating

As of 31/08/2018

3
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Data Source: Morningstar Asia Limited. The Morningstar sourced information is provided to investor(s) for reference purposes only. All fund prices quoted are calculated as at the latest valuation date. The performance information (%) in the chart and table may have slight variances due to factors such as rounding, or charting methodology used.

Past performance information is not indicative of future performance. Investors may not get back the full amount invested. Calculation of performance is based on the NAV-to-NAV for the stated period, with dividend reinvested, in denominated currency. These figures show by how much the share class increased or decreased in value during the stated period. Where no past performance is shown there was insufficient data available in that period to calculate performance.

Performance has been calculated in the “Denominated currency” set out in the “About this fund” section in the “Fund details” tab, including ongoing charges and excluding subscription fee and redemption fee you may have to pay.

Payments of dividends out of capital will only be made to seek to maintain a stable payment per share but the payment per share is not fixed. Dividend yield of the fund does not represent the return of the fund, and past dividend yield does not represent future dividend yield. The dividends are not guaranteed.

+

Fund risk ratings shown are calculated based on information as of #{hkweb.fundDetailService.getMaxRetailFundsRiskLevelAsOfDate}. Risk ratings are 1 = Low risk, 2 = Low to Medium risk, 3 = Medium risk, 4 = Medium to High risk, 5 = High risk. Fund risk ratings are generally reviewed on a semi-annual basis.

For more details on Fund risk ratings and its calculation methodology, please refer to the overview.

The fund risk rating is sourced from a methodology developed by Morningstar Investment Management Asia Limited and its affiliates. The fund risk rating is provided to investor(s) for reference purposes only.

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Source: Fidelity.

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The name of the fund is not indicative of the fund’s performance and return.