Fidelity Advisor High Income Advantage Fund Class I (FAHCX)

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The chart shows the growth of an initial investment of $10,000 in Fidelity Advisor High Income Advantage Fund Class I, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.

Fidelity Advisor High Income Advantage Fund Class I (FAHCX) has returned -0.75% so far this year and 12.47% over the past 12 months. Over the last ten years, FAHCX has returned 7.43% per year, falling short of the S&P 500 Index benchmark, which averaged 12.16% annually.

Based on dividend-adjusted daily data since Dec 31, 1993, FAHCX's average daily return is +0.03%, while the average monthly return is +0.63%. At this rate, your investment would double in approximately 9.2 years.

Historically, 65% of months were positive and 35% were negative. The best month was Apr 2009 with a return of +18.3%, while the worst month was Oct 2008 at -19.1%. The longest winning streak lasted 11 consecutive months, and the longest losing streak was 6 months.

On a daily basis, FAHCX closed higher 47% of trading days. The best single day was Mar 26, 2020 with a return of +3.9%, while the worst single day was Mar 16, 2020 at -5.5%.

Fidelity Advisor High Income Advantage Fund Class I has an annualized alpha of 4.79%, beta of 0.26, and R² of 0.40 versus S&P 500 Index. Calculated based on daily prices since January 03, 1994.

• This fund participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (57.09%) than losses (55.90%) — typical of diversified or defensive assets.
• Beta of 0.26 may look defensive, but with R² of 0.40 this fund is largely uncorrelated with S&P 500 Index — low beta reflects independence, not downside protection. See the Volatility section for a true picture of this fund's risk.
• R² of 0.40 means the benchmark explains less than half of this fund's behavior — treat beta with caution or consider switching to a more representative benchmark.

FAHCX has an expense ratio of 0.74%, placing it in the medium range.

FAHCX ranks 92 for risk / return — in the top 92% of mutual funds on our site. This means strong returns relative to risk — exactly what professional investors look for. Well-suited for investors who want to maximize return per unit of risk.

The table below present risk-adjusted performance metrics for Fidelity Advisor High Income Advantage Fund Class I (FAHCX) and compare them to a chosen benchmark (S&P 500 Index).

Fidelity Advisor High Income Advantage Fund Class I provided a 4.41% dividend yield over the last twelve months, with an annual payout of $0.51 per share.

The table displays the monthly dividend distributions for Fidelity Advisor High Income Advantage Fund Class I. The dividends shown in the table have been adjusted to account for any splits that may have occurred.

The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.

The table below displays the maximum drawdowns of the Fidelity Advisor High Income Advantage Fund Class I. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.

The maximum drawdown for the Fidelity Advisor High Income Advantage Fund Class I was 48.10%, occurring on Mar 9, 2009. Recovery took 207 trading sessions.

The current Fidelity Advisor High Income Advantage Fund Class I drawdown is 3.13%.

The chart below shows the rolling one-month volatility.