- ISIN
- US31638R7254
- CUSIP
- 31638R725
- Issuer
- Fidelity
- Inception Date
- Jul 25, 2017
- Category
- Global Bonds
- Min. Investment
- $0
- Distribution Policy
- Distributing
- Asset Class
- Bond
Share Price Chart
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Performance
FCDSX Performance Chart
Fidelity Series International Credit Fund (FCDSX) is up 1.3% since the beginning of the year. FCDSX is currently trading at $8 per share. Investors who bought $1,000 worth of FCDSX shares 5 years ago would now be looking at an investment worth $1,049.
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Returns By Period
Fidelity Series International Credit Fund (FCDSX) has returned 1.34% so far this year and 5.13% over the past 12 months.
Fidelity Series International Credit Fund
- 1D
- 0.24%
- 1M
- 0.95%
- YTD
- 1.34%
- 6M
- 1.70%
- 1Y
- 5.13%
- 3Y*
- 7.84%
- 5Y*
- 0.97%
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
FCDSX Monthly Returns History
Based on dividend-adjusted daily data since Jul 25, 2017, FCDSX's average daily return is +0.01%, while the average monthly return is +0.26%. At this rate, an investment would double in approximately 22.2 years.
Historically, 61% of months were positive and 39% were negative. The best month was Jul 2022 with a return of +4.5%, while the worst month was Mar 2020 at -8.0%. The longest winning streak lasted 9 consecutive months, and the longest losing streak was 6 months.
On a daily basis, FCDSX closed higher 43% of trading days. The best single day was Nov 10, 2022 with a return of +1.6%, while the worst single day was Mar 18, 2020 at -3.2%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.71% | 1.29% | -2.32% | 0.62% | 0.71% | 0.35% | 1.34% | ||||||
| 2025 | 0.85% | 1.56% | -0.71% | 0.91% | 0.12% | 1.08% | 0.52% | 0.71% | 0.71% | 1.23% | 0.23% | -0.19% | 7.22% |
| 2024 | 1.25% | -0.87% | 1.87% | -1.50% | 1.26% | 1.00% | 2.30% | 1.34% | 1.80% | -0.92% | 1.56% | -0.85% | 8.47% |
| 2023 | 3.90% | -1.62% | -1.14% | 0.76% | -0.39% | -0.52% | 0.92% | 0.00% | -0.78% | -0.47% | 3.05% | 3.87% | 7.64% |
| 2022 | -1.81% | -2.44% | -1.91% | -3.61% | -1.47% | -5.26% | 4.48% | -3.03% | -5.41% | -0.64% | 3.48% | -0.78% | -17.34% |
| 2021 | -0.49% | -1.31% | -0.20% | 0.78% | 0.20% | 0.90% | 1.29% | 0.00% | -1.08% | -0.33% | 0.20% | 0.01% | -0.07% |
Benchmark Metrics
Fidelity Series International Credit Fund has an annualized alpha of 2.76%, beta of 0.02, and R2 of 0.01 versus S&P 500 Index. Calculated based on daily prices since July 25, 2017.
- This fund participated in 25.34% of S&P 500 Index downside but only 18.63% of its upside - more exposed to losses than it benefited from rallies.
- Beta of 0.02 may look defensive, but with R2 of 0.01 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 0.01 means this fund moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 2.76%
- Beta
- 0.02
- R²
- 0.01
- Upside Capture
- 18.63%
- Downside Capture
- 25.34%
Expense Ratio
FCDSX has an expense ratio of 0.00%, meaning no management fees are charged.
Return for Risk
Risk / Return Rank
FCDSX ranks 39 for risk / return — below 39% of mutual funds on our site. The returns aren't fully compensating for the risk involved. This isn't necessarily a dealbreaker, but factor it into your decision — especially if you're risk-averse.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Fidelity Series International Credit Fund (FCDSX) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| FCDSX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.23 | ||
| Sortino ratioReturn per unit of downside risk | -0.04 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.37 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.85 | 2.78 | -0.93 |
| Martin ratioReturn relative to average drawdown | 5.55 | 12.44 | -6.89 |
Dividends
Dividend History
Fidelity Series International Credit Fund provided a 4.16% dividend yield over the last twelve months, with an annual payout of $0.35 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.35 | $0.39 | $0.40 | $0.29 | $0.52 | $0.30 | $0.67 | $0.72 | $0.40 | $0.19 |
Dividend yield | 4.16% | 4.58% | 4.81% | 3.67% | 6.73% | 3.04% | 6.58% | 7.12% | 4.17% | 1.90% |
Monthly Dividends
The table displays the monthly dividend distributions for Fidelity Series International Credit Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.00 | $0.07 | $0.00 | $0.00 | $0.07 | ||||||
| 2025 | $0.00 | $0.00 | $0.00 | $0.11 | $0.00 | $0.00 | $0.08 | $0.00 | $0.00 | $0.08 | $0.00 | $0.11 | $0.39 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.11 | $0.00 | $0.00 | $0.08 | $0.00 | $0.00 | $0.07 | $0.00 | $0.14 | $0.40 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.06 | $0.00 | $0.00 | $0.08 | $0.00 | $0.00 | $0.07 | $0.00 | $0.08 | $0.29 |
| 2022 | $0.00 | $0.06 | $0.00 | $0.06 | $0.00 | $0.00 | $0.07 | $0.00 | $0.00 | $0.07 | $0.00 | $0.26 | $0.52 |
| 2021 | $0.00 | $0.05 | $0.00 | $0.06 | $0.00 | $0.00 | $0.07 | $0.00 | $0.00 | $0.07 | $0.00 | $0.06 | $0.30 |
Drawdowns
Drawdowns Chart
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.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Fidelity Series International Credit Fund. 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 Series International Credit Fund was 22.33%, occurring on Oct 21, 2022. Recovery took 714 trading sessions.
The current Fidelity Series International Credit Fund drawdown is 0.66%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Bear market2022 | -22.33%Oct 2022 | 1y 1mo | 2y 10mo | 3y 11moSep 2021 - Aug 2025 |
COVID crash2020 | -11.86%Mar 2020 | 10d | 4mo 13d | 4mo 23dMar 2020 - Jul 2020 |
2026 pullback2026 | -2.78%Mar 2026 | 25d | — | 3mo 23dMar 2026 - now |
2021 pullback2021 | -2.38%Mar 2021 | 2mo 11d | 3mo 20d | 6mo 1dJan 2021 - Jul 2021 |
Rate-hike selloffLate 2018 | -2.03%Nov 2018 | 10mo 15d | 2mo 5d | 1y 15dJan 2018 - Jan 2019 |
Drawdown Indicators
| FCDSX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.33% | -56.78% | +34.45% |
Max Drawdown (1Y)Largest decline over 1 year | -2.78% | -9.10% | +6.32% |
Max Drawdown (3Y)Largest decline over 3 years | -2.78% | -18.90% | +16.12% |
Max Drawdown (5Y)Largest decline over 5 years | -22.33% | -25.43% | +3.10% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -0.66% | -1.80% | +1.14% |
Average DrawdownAverage peak-to-trough decline | -5.04% | -10.71% | +5.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.93% | 2.03% | -1.10% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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