- ISIN
- US31641Q7300
- Issuer
- Fidelity
- Inception Date
- Dec 4, 2018
- Category
- High Yield Bonds
- Min. Investment
- $0
- Distribution Policy
- Distributing
- Asset Class
- Bond
Share Price Chart
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Performance
FGSMX Performance Chart
Fidelity Advisor High Income Fund Class C (FGSMX) is up 3.0% since the beginning of the year. FGSMX is currently trading at $8 per share. Investors who bought $1,000 worth of FGSMX shares 5 years ago would now be looking at an investment worth $1,175.
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Returns By Period
Fidelity Advisor High Income Fund Class C (FGSMX) has returned 3.00% so far this year and 8.76% over the past 12 months.
Fidelity Advisor High Income Fund Class C
- 1D
- 0.00%
- 1M
- 0.66%
- YTD
- 3.00%
- 6M
- 3.67%
- 1Y
- 8.76%
- 3Y*
- 8.68%
- 5Y*
- 3.27%
- 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%
FGSMX Monthly Returns History
Based on dividend-adjusted daily data since Dec 4, 2018, FGSMX's average daily return is +0.02%, while the average monthly return is +0.33%. At this rate, an investment would double in approximately 17.5 years.
Historically, 63% of months were positive and 37% were negative. The best month was Jul 2022 with a return of +5.2%, while the worst month was Mar 2020 at -11.5%. The longest winning streak lasted 10 consecutive months, and the longest losing streak was 4 months.
On a daily basis, FGSMX closed higher 42% of trading days. The best single day was Mar 26, 2020 with a return of +4.0%, while the worst single day was Mar 18, 2020 at -4.1%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.76% | 0.58% | -1.28% | 2.28% | 0.79% | -0.12% | 3.00% | ||||||
| 2025 | 1.29% | 0.61% | -1.33% | -0.37% | 1.59% | 2.70% | 0.30% | 1.56% | 0.91% | 0.16% | 0.15% | 0.86% | 8.71% |
| 2024 | 0.25% | 0.49% | 1.31% | -1.04% | 1.21% | 0.67% | 1.85% | 1.42% | 1.66% | -0.36% | 1.14% | -0.57% | 8.28% |
| 2023 | 3.52% | -1.55% | 0.78% | 0.62% | -1.24% | 1.87% | 1.18% | -0.33% | -1.23% | -1.64% | 4.31% | 3.52% | 9.98% |
| 2022 | -3.08% | -1.07% | -0.31% | -3.86% | 0.05% | -7.73% | 5.22% | -1.78% | -5.20% | 3.18% | 1.99% | -1.52% | -13.86% |
| 2021 | -0.69% | -0.35% | 0.28% | 0.95% | -0.07% | 1.64% | 0.15% | 0.60% | -0.22% | -0.43% | -1.25% | 2.15% | 2.76% |
Benchmark Metrics
Fidelity Advisor High Income Fund Class C has an annualized alpha of 0.96%, beta of 0.19, and R2 of 0.36 versus S&P 500 Index. Calculated based on daily prices since December 04, 2018.
- This fund participated in 45.83% of S&P 500 Index downside but only 29.38% of its upside - more exposed to losses than it benefited from rallies.
- Beta of 0.19 may look defensive, but with R2 of 0.36 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 0.36 means the benchmark explains less than half of this fund's behavior - treat beta with caution or consider switching to a more representative benchmark.
- Alpha
- 0.96%
- Beta
- 0.19
- R²
- 0.36
- Upside Capture
- 29.38%
- Downside Capture
- 45.83%
Expense Ratio
FGSMX has a high expense ratio of 1.76%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
FGSMX ranks 91 for risk / return — in the top 91% 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.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Fidelity Advisor High Income Fund Class C (FGSMX) 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.
| FGSMX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.71 | ||
| Sortino ratioReturn per unit of downside risk | +1.80 | ||
| Omega ratioGain probability vs. loss probability | 1.63 | 1.37 | +0.26 |
| Calmar ratioReturn relative to maximum drawdown | 3.83 | 2.78 | +1.05 |
| Martin ratioReturn relative to average drawdown | 18.70 | 12.44 | +6.26 |
Dividends
Dividend History
Fidelity Advisor High Income Fund Class C provided a 5.36% dividend yield over the last twelve months, with an annual payout of $0.44 per share. The fund has been increasing its distributions for 3 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.44 | $0.44 | $0.40 | $0.34 | $0.22 | $0.28 | $0.32 | $0.37 | $0.07 |
Dividend yield | 5.36% | 5.40% | 5.06% | 4.39% | 3.08% | 3.18% | 3.69% | 4.08% | 0.80% |
Monthly Dividends
The table displays the monthly dividend distributions for Fidelity Advisor High Income Fund Class C. 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 | $0.03 | $0.03 | $0.04 | $0.03 | $0.03 | $0.00 | $0.16 | ||||||
| 2025 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.08 | $0.44 |
| 2024 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.06 | $0.40 |
| 2023 | $0.03 | $0.02 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.02 | $0.03 | $0.03 | $0.03 | $0.04 | $0.34 |
| 2022 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.00 | $0.00 | $0.02 | $0.00 | $0.03 | $0.03 | $0.04 | $0.22 |
| 2021 | $0.00 | $0.00 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.07 | $0.28 |
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 Advisor High Income Fund Class C. 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 Fund Class C was 22.51%, occurring on Mar 23, 2020. Recovery took 178 trading sessions.
The current Fidelity Advisor High Income Fund Class C drawdown is 0.24%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
COVID crash2020 | -22.51%Mar 2020 | 1mo 1d | 8mo 15d | 9mo 16dFeb 2020 - Dec 2020 |
Bear market2022 | -16.99%Sep 2022 | 1y 9d | 1y 10mo | 2y 11moSep 2021 - Aug 2024 |
2025 selloff2025 | -4.23%Apr 2025 | 1mo 5d | 1mo 27d | 3mo 2dMar 2025 - Jun 2025 |
Rate-hike selloffLate 2018 | -3.74%Dec 2018 | 20d | 14d | 1mo 4dDec 2018 - Jan 2019 |
2026 pullback2026 | -2.33%Mar 2026 | 25d | 13d | 1mo 8dMar 2026 - Apr 2026 |
Drawdown Indicators
| FGSMX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.51% | -56.78% | +34.27% |
Max Drawdown (1Y)Largest decline over 1 year | -2.33% | -9.10% | +6.77% |
Max Drawdown (3Y)Largest decline over 3 years | -4.23% | -18.90% | +14.67% |
Max Drawdown (5Y)Largest decline over 5 years | -16.99% | -25.43% | +8.44% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -0.24% | -1.80% | +1.56% |
Average DrawdownAverage peak-to-trough decline | -3.93% | -10.71% | +6.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.48% | 2.03% | -1.55% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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