Fidelity Advisor Floating Rate High Income Fund Class A (FFRAX)
The investment seeks a high level of current income. The fund invests atleast 80% of assets in floating rate loans, which are often lower-quality debt securities and other floating rate securities. It invests in companies in troubled or uncertain financial condition. The fund invests in money market and investment-grade debt securities and repurchase agreements. It invests in domestic and foreign issuers. The adviser uses fundamental analysis of each issuer's financial condition and industry position and market and economic conditions to select investments.
Fund Info
| ISIN | US3158075941 |
|---|---|
| Issuer | Fidelity |
| Inception Date | Aug 16, 2000 |
| Category | High Yield Bonds |
| Min. Investment | $0 |
| Asset Class | Bond |
Expense Ratio
FFRAX has a high expense ratio of 0.98%, indicating higher-than-average management fees.
Share Price Chart
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Compare to other instruments
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Popular comparisons: FFRAX vs. PRFRX, FFRAX vs. PAFRX, FFRAX vs. FFRHX, FFRAX vs. AGZD, FFRAX vs. FFHCX, FFRAX vs. EIFAX
Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in Fidelity Advisor Floating Rate High Income Fund Class A, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.
Returns By Period
Fidelity Advisor Floating Rate High Income Fund Class A had a return of 7.80% year-to-date (YTD) and 9.53% in the last 12 months. Over the past 10 years, Fidelity Advisor Floating Rate High Income Fund Class A had an annualized return of 4.28%, while the S&P 500 had an annualized return of 11.39%, indicating that Fidelity Advisor Floating Rate High Income Fund Class A did not perform as well as the benchmark.
| Period | Return | Benchmark |
|---|---|---|
| Year-To-Date | 7.80% | 25.48% |
| 1 month | 0.98% | 2.14% |
| 6 months | 3.97% | 12.76% |
| 1 year | 9.53% | 33.14% |
| 5 years (annualized) | 5.32% | 13.96% |
| 10 years (annualized) | 4.28% | 11.39% |
Monthly Returns
The table below presents the monthly returns of FFRAX, with color gradation from worst to best to easily spot seasonal factors. Returns are adjusted for dividends.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | 1.19% | 0.97% | 0.11% | 1.15% | 0.77% | -0.43% | 1.23% | -0.11% | 1.37% | 0.98% | 7.80% | ||
| 2023 | 2.93% | 0.46% | 0.11% | 0.33% | 0.38% | 2.34% | 1.13% | 1.11% | 0.00% | 0.42% | 1.34% | 0.92% | 12.05% |
| 2022 | 0.13% | -0.54% | 0.24% | -0.42% | -1.92% | -2.54% | 2.03% | 1.96% | -2.29% | 1.32% | 1.22% | -0.25% | -1.21% |
| 2021 | 1.13% | 0.96% | -0.08% | 0.46% | 0.66% | 0.33% | -0.29% | 0.67% | 0.75% | 0.44% | -0.51% | 0.70% | 5.33% |
| 2020 | 0.25% | -1.79% | -11.79% | 3.56% | 4.15% | 0.54% | 1.87% | 1.27% | 0.39% | 0.04% | 2.61% | 1.25% | 1.37% |
| 2019 | 2.70% | 1.54% | -0.22% | 1.57% | -0.52% | 0.30% | 0.73% | -0.32% | 0.70% | -0.56% | 0.46% | 1.58% | 8.19% |
| 2018 | 1.05% | -0.14% | -0.10% | 0.75% | 0.13% | -0.31% | 1.02% | 0.25% | 0.66% | -0.14% | -0.88% | -2.31% | -0.10% |
| 2017 | 0.30% | 0.57% | -0.01% | 0.40% | 0.39% | -0.04% | 0.83% | -0.31% | 0.30% | 0.62% | 0.09% | 0.27% | 3.47% |
| 2016 | -0.88% | -0.45% | 2.79% | 2.28% | 0.72% | -0.13% | 1.38% | 1.07% | 0.83% | 0.52% | 0.19% | 1.10% | 9.76% |
| 2015 | 0.20% | 1.61% | 0.22% | 0.90% | 0.09% | -0.54% | -0.32% | -0.84% | -0.65% | 0.11% | -1.07% | -1.10% | -1.41% |
| 2014 | 0.46% | 0.22% | 0.16% | -0.05% | 0.47% | 0.45% | -0.24% | 0.27% | -0.73% | 0.29% | 0.18% | -1.43% | 0.03% |
| 2013 | 0.76% | 0.02% | 0.64% | 0.42% | 0.02% | -0.78% | 1.05% | -0.16% | 0.13% | 0.76% | 0.43% | 0.31% | 3.65% |
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
The current risk-adjusted rank of FFRAX is 98, placing it in the top 2% of mutual funds on our website in terms of risk-adjusted performance. This ranking is based on the combined values of the indicators listed below.
Risk-Adjusted Performance Indicators
The charts below present risk-adjusted performance metrics for Fidelity Advisor Floating Rate High Income Fund Class A (FFRAX) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.
Dividends
Dividend History
Fidelity Advisor Floating Rate High Income Fund Class A provided a 8.08% dividend yield over the last twelve months, with an annual payout of $0.75 per share. The fund has been increasing its distributions for 2 consecutive years.
| Period | TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.75 | $0.74 | $0.43 | $0.28 | $0.33 | $0.46 | $0.41 | $0.36 | $0.35 | $0.36 | $0.36 | $0.32 |
Dividend yield | 8.08% | 7.95% | 4.73% | 2.94% | 3.55% | 4.86% | 4.41% | 3.73% | 3.66% | 3.96% | 3.70% | 3.18% |
Monthly Dividends
The table displays the monthly dividend distributions for Fidelity Advisor Floating Rate High Income Fund Class A. 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.00 | $0.62 | |
| 2023 | $0.06 | $0.05 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.07 | $0.06 | $0.07 | $0.74 |
| 2022 | $0.02 | $0.02 | $0.02 | $0.02 | $0.03 | $0.03 | $0.04 | $0.04 | $0.04 | $0.05 | $0.05 | $0.07 | $0.43 |
| 2021 | $0.03 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.04 | $0.28 |
| 2020 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.02 | $0.02 | $0.03 | $0.02 | $0.02 | $0.03 | $0.33 |
| 2019 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.03 | $0.05 | $0.46 |
| 2018 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.04 | $0.04 | $0.05 | $0.41 |
| 2017 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.05 | $0.36 |
| 2016 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.04 | $0.35 |
| 2015 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.05 | $0.36 |
| 2014 | $0.03 | $0.02 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.07 | $0.36 |
| 2013 | $0.03 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.03 | $0.02 | $0.06 | $0.32 |
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.
Worst Drawdowns
The table below displays the maximum drawdowns of the Fidelity Advisor Floating Rate High Income Fund Class A. 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 Floating Rate High Income Fund Class A was 22.22%, occurring on Mar 23, 2020. Recovery took 177 trading sessions.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -22.22% | Jan 23, 2020 | 42 | Mar 23, 2020 | 177 | Dec 2, 2020 | 219 |
| -21.21% | Jun 19, 2008 | 124 | Dec 15, 2008 | 153 | Jul 27, 2009 | 277 |
| -7.09% | Nov 1, 2007 | 69 | Feb 11, 2008 | 80 | Jun 5, 2008 | 149 |
| -6.45% | May 11, 2015 | 194 | Feb 16, 2016 | 76 | Jun 3, 2016 | 270 |
| -5.72% | Feb 3, 2022 | 106 | Jul 6, 2022 | 132 | Jan 10, 2023 | 238 |
Volatility
Volatility Chart
The current Fidelity Advisor Floating Rate High Income Fund Class A volatility is 0.62%, representing the average percentage change in the investments's value, either up or down over the past month. The chart below shows the rolling one-month volatility.