Fact sheet: Fidelity US Hgh Yld

Fund information
Fund name
Fidelity US High Yield A USD
Fund manager company
Fidelity International (FIL In
Fund type
Offshore Fund
Fund manager
  • Harley Lanksince 08/05/2003
Fund objective
Aims to provide high current income and capital growth. At least 70% invested in high-yielding, lower quality bonds of issuers that have their main business activities in the US. The fund may invest up to 10% into loans that comply with the criteria of Money Market Instruments. Has the freedom to invest outside the fund's principal geographies, market sectors, industries or asset classes. Investments may be made in bonds issued in currencies other than the fund’s reference currency. Exposure to currencies may be hedged, for example with currency forward contracts. The reference currency is the currency used for reporting and may be different from the dealing currency. Can invest in bonds issued by governments, companies and other bodies. The types of bonds in which the fund will mainly invest will be subject to high risk and will not be required to meet a minimum rating standard. Can use derivatives with the aim of risk or cost reduction or to generate additional capital or income in line with the fund's risk profile. The fund has discretion in its choices of investments within its objectives and policies. Income is reinvested in additional shares or paid to shareholders on request. Shares can usually be bought and sold each business day of the fund. This fund may not be appropriate for investors who plan to sell their shares in the fund within 5 years. Investment in the fund should be regarded as a long-term investment.
Benchmark
  • BofA ML US High Yield Constrained
Investment style
High Yield
Investment method
Fixed Interest
Quick stats
1 Year return
7.3%
1 Year rank in sector
9/46
Sector
FO Fixed Int - USD High Yield
Yield
4.6%
Ongoing charge (OCF)
?A fund’s ongoing charges figure (OCF) is similar to the old-style total expense ratio. It reflects the annual charge to investors in the fund, in percentage terms, but does not include extra performance-related fees (where these are levied) or the fund’s trading expenses on its underlying investments.
1.39%
Fund size
£3,847m (£5,535m last year)
FE Risk score
?FE Risk Scores measure the riskiness of instruments relative to the FTSE 100 index of shares. Weekly volatility is measured over three years with recent behaviour counting more heavily than earlier behaviour. Cash-type investments will have scores close to zero. Funds will tend to have scores in the 0-150 range. The FTSE 100 is always scored at 100. There is no upper limit.
74
Top in this sector
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Allianz US Hi Yd23.4%
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Performance snapshot

Holdings snapshot

  • USA81.8%
    Europe4.6%
    UK3.4%
    Money Market2.4%
    France2.1%
  • Communications21%
    Energy13.6%
    Non-Cyclical Consumer Goods12.7%
    Banks11.2%
    Cyclical Consumer Goods10.7%
  • US Fixed Interest83.8%
    European Fixed Interest5%
    UK Fixed Interest3.4%
    French Fixed Interest2.2%
    Canadian Fixed Interest1.8%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund0.7%5.1%8.9%7.3%14.1%38.2%
Sector-0.1%3.8%7.1%6.1%10%34.2%
Rank within sector5 / 465 / 4611 / 469 / 468 / 337 / 22
Quartile1st1st1st1st1st2nd
Calendar performance
 YTD - 20162015201420132012
Fund11.6%-3.7%3.1%5.1%14.8%
Sector9.7%-3.1%0.7%6.2%14.1%
Rank within sector10 / 4622 / 418 / 3322 / 329 / 24
Quartile1st3rd1st3rd2nd
Risk statistics
Alpha
?Alpha is a measure of a fund's over- or under-performance by comparison to its benchmark. If the Alpha is 5, the fund has outperformed its benchmark by 5%; so the greater the Alpha, the greater the outperformance.
0.51
Beta
?Beta estimates a fund's volatility by comparison to that of its benchmark. A fund with a beta close to 1 means that the fund will move generally in line with the benchmark. Higher than 1 and the fund is more volatile than the benchmark and vice versa.
1.13
Sharpe
?This commonly-used measure calculates the level of return over and above the return of a notional risk-free investment, such as cash. The difference in returns is then divided by the fund's volatility. The resulting ratio is an indication of the amount of excess return generated per unit of risk.
0.22
Volatility
?Volatility (or standard deviation), when applied to an investment fund, expresses its risk. It shows how widely a range of returns varied from the fund's average return over a particular period. For example, if a fund had an average return of 5%, and its volatility was 15, this would mean that the range of its returns over the period had swung between +20% and -10%.
5.92
Tracking error
?This measures the standard deviation of a fund's excess returns over the returns of an index or benchmark portfolio. As such, it can be an indication of 'riskiness' in the manager's investment style. A Tracking Error below 2 suggests a passive approach. At 3 and above the the manager will be deploying a more active investment style.
1.33
Information ratio
?This is a useful risk-adjusted measure of actively managed fund performance. It is calculated by deducting the returns of the fund's benchmark from the fund's overall returns, then dividing the result by its tracking error. The higher the Information Ratio the better. It is generally considered that a figure of 0.5 reflects a good performance, 0.75 very good, and 1.00 outstanding.
0.74
R-Squared
?An indication of how closely correlated a fund is to an index or a benchmark. Values for R-Squared range between 0 and 1, with 0 indicating no correlation at all and 1 showing a perfect match. Values upwards of 0.7 suggest that the fund's behaviour is increasingly linked to its benchmark.
0.96
Price movement
52 week high12.12
52 week low10.48
Current bid price-
Current offer price-
Current mid price11.81
Region
1USA81.76%
2Europe4.57%
3UK3.35%
4Money Market2.43%
5France2.12%
6Canada1.77%
7Latin America1.74%
8Australasia0.93%
9Germany0.61%
Industry sector
1Communications21.04%
2Energy13.6%
3Non-Cyclical Consumer Goods12.69%
4Banks11.18%
5Cyclical Consumer Goods10.73%
6Utilities7.63%
7Other Financial5.06%
8Basic Industries4.93%
9Capital Goods3.48%
Asset type
1US Fixed Interest83.81%
2European Fixed Interest5.04%
3UK Fixed Interest3.43%
4French Fixed Interest2.17%
5Canadian Fixed Interest1.81%
6American Emerging Fixed Interest1.78%
7Australian Fixed Interest0.95%
8German Fixed Interest0.63%
9Asia Pacific ex Japan Fixed Interest0.27%
Individual holdings
1ALLY FINANCIAL INC 8% BDS 31/12/18 USD20002.13%
2CITIGROUP INC DEP SHS REPSTG 1/25TH PFD D FLTG RT2.13%
3ENERGY FUTURE INTER HLDG CO LLC 11.75% BDS 01/03/22 USD1000 144A1.92%
4FIDELITY INSTITUTIONAL LIQUIDITY USD A ACC1.61%
5ALLY FINANCIAL INC 8% SNR GTD NTS 01/11/31 USD10001.54%
6INTERNATIONAL LEASE FINANCE CORP 8.625% BDS 15/01/22 USD10001.52%
7APX GROUP INC 8.75% NTS 01/12/20 USD20001.15%
8ALTICE SA 7.75% BDS 15/05/22 USD2000001.06%
9MHGE PARENT LLC/FINANCE 8.5% BDS 01/08/19 USD2000144A0.98%
Management
Fund manager group
Fidelity
Fund manager company
Fidelity International (FIL In
Fund type
Offshore Fund
Fund objective
Aims to provide high current income and capital growth. At least 70% invested in high-yielding, lower quality bonds of issuers that have their main business activities in the US. The fund may invest up to 10% into loans that comply with the criteria of Money Market Instruments. Has the freedom to invest outside the fund's principal geographies, market sectors, industries or asset classes. Investments may be made in bonds issued in currencies other than the fund’s reference currency. Exposure to currencies may be hedged, for example with currency forward contracts. The reference currency is the currency used for reporting and may be different from the dealing currency. Can invest in bonds issued by governments, companies and other bodies. The types of bonds in which the fund will mainly invest will be subject to high risk and will not be required to meet a minimum rating standard. Can use derivatives with the aim of risk or cost reduction or to generate additional capital or income in line with the fund's risk profile. The fund has discretion in its choices of investments within its objectives and policies. Income is reinvested in additional shares or paid to shareholders on request. Shares can usually be bought and sold each business day of the fund. This fund may not be appropriate for investors who plan to sell their shares in the fund within 5 years. Investment in the fund should be regarded as a long-term investment.
Benchmark
  • BofA ML US High Yield Constrained
Investment style
High Yield
Investment method
Fixed Interest
Fund manager
NameSinceBiography
Harley Lank08/05/2003Harley Lank is Portfolio Manager of the FF US High Yield Fund, and a Vice President. He has several years of experience in the investment management industry and, amongst other duties, is responsible for co-managing Fidelity’s collateralised loan obligations (CLOs), as well as various diversified high-yield bond strategies. Harley joined Fidelity Management and Research Company’s (FMR Co.) high income group as a high yield analyst in 1996, and became Portfolio Manager in September 2000. As an analyst, his primary coverage responsibilities included various cyclical, non-cyclical, commodity and growth sectors such as healthcare, wireless telecommunications, metals / mining, and energy, among others. Before joining Fidelity, Harley’s career was largely spent in the credit markets. From 1992 to 1994 he worked in Bank of Boston’s corporate finance group where he focused on asset-based lending. Prior to that, he worked at UBS Asset Management and Capital Strategy Group. He has a bachelor of science in business from Syracuse University (1990) and an MBA at the Wharton School of Business at the University of Pennsylvania (1996).
Compliance
Transparent for Austrian Tax, Transparent for Swiss Tax, Reporting Fund Status, UCITS IV Compliant, UCITS V Compliant, MAS Unrestricted Scheme
Domicile
No data available.
Fund for sale in
Austria, Belgium, Bahrain, Switzerland, Chile, Czech Republic, Germany, Denmark, Spain, Finland, France, United Kingdom, Guernsey, Hong Kong, Hungary, Ireland, Iceland, Italy, Jersey, Republic Of Korea, Luxembourg, Macau, Malta, Netherlands, Norway, Offshore, Oman, Peru, Poland, Portugal, Qatar, Singapore, Slovakia, Slovenia, Sweden, Taiwan - Province Of China
Fidelity US High Yield A Acc EUR
Initial charge5.25%
Annual charge1%
Min single investment£2,500
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)1.39%
Total expense ratio (TER)1.39%
Bid price-
Offer price-
Mid price21.17
CurrencyEUR
Price updated22/09/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeG830
Fidelity US High Yield A Acc USD
Initial charge5.25%
Annual charge1%
Min single investment£2,500
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)1.39%
Total expense ratio (TER)1.39%
Bid price-
Offer price-
Mid price13.05
CurrencyUSD
Price updated22/09/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeNBH2
Fidelity US High Yield A EUR
Initial charge5.25%
Annual charge1%
Min single investment£2,500
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)1.39%
Total expense ratio (TER)1.39%
Bid price-
Offer price-
Mid price8.791
CurrencyEUR
Price updated22/09/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeFE01
Fidelity US High Yield A GBP
Initial charge5.25%
Annual charge1%
Min single investment£2,500
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)1.39%
Total expense ratio (TER)1.39%
Bid price-
Offer price-
Mid price13.53
CurrencyGBP
Price updated22/09/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeFE02
Fidelity US High Yield A Hedged Acc EUR
Initial charge5.25%
Annual charge1%
Min single investment£2,500
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)1.39%
Total expense ratio (TER)1.39%
Bid price-
Offer price-
Mid price12.55
CurrencyEUR
Price updated22/09/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeAAHH
Fidelity US High Yield A Hedged Acc HUF
Initial charge3.5%
Annual charge1%
Min single investment£2,500
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price3301
CurrencyHUF
Price updated22/09/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeE05R
Fidelity US High Yield A Hedged Mdis AUD
Initial charge5.25%
Annual charge1%
Min single investment£2,500
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.44%
Total expense ratio (TER)1.66%
Bid price-
Offer price-
Mid price10.61
CurrencyAUD
Price updated22/09/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeFCEK
Fidelity US High Yield A MDIST SGD
Initial charge5.25%
Annual charge1%
Min single investment£2,500
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)1.39%
Total expense ratio (TER)1.39%
Bid price-
Offer price-
Mid price0.901
CurrencySGD
Price updated22/09/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeA2E9
Fidelity US High Yield A MDIST USD
Initial charge5.25%
Annual charge1%
Min single investment£2,500
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)1.39%
Total expense ratio (TER)1.39%
Bid price-
Offer price-
Mid price11.2
CurrencyUSD
Price updated22/09/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeA2D7
Fidelity US High Yield A MInc (G) USD
Initial charge5.25%
Annual charge1%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.4%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price9.435
CurrencyUSD
Price updated22/09/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeF8TD
Fidelity US High Yield A MInc HKD
Initial charge5.25%
Annual charge1%
Min single investment£2,500
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)1.39%
Total expense ratio (TER)1.39%
Bid price-
Offer price-
Mid price10.74
CurrencyHKD
Price updated22/09/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeKMB6
Fidelity US High Yield A MInc USD
Initial charge5.25%
Annual charge1%
Min single investment£2,500
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)1.39%
Total expense ratio (TER)1.39%
Bid price-
Offer price-
Mid price10.79
CurrencyUSD
Price updated22/09/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeKOP0
Fidelity US High Yield A USD
Initial charge5.25%
Annual charge1%
Min single investment£2,500
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)1.39%
Total expense ratio (TER)1.39%
Bid price-
Offer price-
Mid price11.81
CurrencyUSD
Price updated22/09/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeFE34
Fidelity US High Yield D Hedged Acc EUR
Initial charge3%
Annual charge1%
Min single investment£2,500
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price10.59
CurrencyEUR
Price updated22/09/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeE8IV
Fidelity US High Yield D MDis USD
Initial charge3%
Annual charge1%
Min single investment£2,500
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price10.49
CurrencyUSD
Price updated22/09/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeE8IW
Fidelity US High Yield E MDIST Hedged EUR
Initial charge-
Annual charge1%
Min single investment£2,500
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)1.89%
Total expense ratio (TER)1.92%
Bid price-
Offer price-
Mid price9.852
CurrencyEUR
Price updated22/09/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi code10YQ
Fidelity US High Yield I Acc USD
Initial charge1%
Annual charge0.6%
Min single investment£500,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)0.69%
Total expense ratio (TER)0.67%
Bid price-
Offer price-
Mid price11.61
CurrencyUSD
Price updated17/08/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeIANN
Fidelity US High Yield I Hedged EUR
Initial charge-
Annual charge0.6%
Min single investment£2,500
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price10.62
CurrencyEUR
Price updated22/09/2016
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeE05S
Fidelity US High Yield I MDIST USD
Initial charge-
Annual charge0.6%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price9.721
CurrencyUSD
Price updated22/09/2016
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeFUKI
Fidelity US High Yield W GBP
Initial charge-
Annual charge0.5%
Min single investment£1,000,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)0.89%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price1.392
CurrencyGBP
Price updated22/09/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeK5LZ
Fidelity US High Yield Y Acc EUR
Initial charge-
Annual charge0.5%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price10.37
CurrencyEUR
Price updated22/09/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeFVZZ
Fidelity US High Yield Y Acc USD
Initial charge-
Annual charge0.5%
Min single investment£1,000,000
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)0.89%
Total expense ratio (TER)0.89%
Bid price-
Offer price-
Mid price18.34
CurrencyUSD
Price updated22/09/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeMFL1
Fidelity US High Yield Y Dis EUR
Initial charge-
Annual charge0.5%
Min single investment£1,000,000
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)0.89%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price12.28
CurrencyEUR
Price updated22/09/2016
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeBMOO
Fidelity US High Yield Y Dis USD
Initial charge-
Annual charge0.5%
Min single investment£1,000,000
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)0.89%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price10.13
CurrencyUSD
Price updated22/09/2016
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeBMOP
Fidelity US High Yield Y GBP
Initial charge-
Annual charge0.5%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price1.243
CurrencyGBP
Price updated22/09/2016
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeFWHR
Fidelity US High Yield Y Hedged Acc CHF
Initial charge-
Annual charge0.5%
Min single investment£1,000,000
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)0.89%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price11.27
CurrencyCHF
Price updated22/09/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeFC6N
Fidelity US High Yield Y Hedged Acc EUR
Initial charge-
Annual charge0.5%
Min single investment£1,000,000
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)0.89%
Total expense ratio (TER)0.89%
Bid price-
Offer price-
Mid price13.63
CurrencyEUR
Price updated22/09/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi code0AGQ
Fidelity US High Yield Y Hedged Mdis AUD
Initial charge-
Annual charge0.5%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price10.29
CurrencyAUD
Price updated22/09/2016
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeFWHS
Fidelity US High Yield Y Hedged QDis EUR
Initial charge-
Annual charge0.5%
Min single investment£1,000,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)0.89%
Total expense ratio (TER)0.89%
Bid price-
Offer price-
Mid price9.774
CurrencyEUR
Price updated22/09/2016
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeF39N
Fidelity US High Yield Y MDis SGD
Initial charge-
Annual charge0.5%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price0.978
CurrencySGD
Price updated22/09/2016
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeFWHT
Fidelity US High Yield Y MDis USD
Initial charge-
Annual charge0.5%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price10.13
CurrencyUSD
Price updated22/09/2016
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeFWHU
Fidelity US High Yield Y MInc HKD
Initial charge-
Annual charge0.5%
Min single investment£1,000,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price10.28
CurrencyHKD
Price updated22/09/2016
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeFX3S
Fidelity US High Yield Y MInc USD
Initial charge-
Annual charge0.5%
Min single investment£1,000,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price10.26
CurrencyUSD
Price updated22/09/2016
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeFX3T
Data provided by

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