Fidelity Advisor New Markets Income Fund Class I (FGZMX)

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Fidelity Advisor New Markets Income Fund Class I (FGZMX) is up 3.7% since the beginning of the year. FGZMX is currently trading at $14 per share. Investors who bought $1,000 worth of FGZMX shares 5 years ago would now be looking at an investment worth $1,203.

Fidelity Advisor New Markets Income Fund Class I (FGZMX) has returned 3.72% so far this year and 16.06% over the past 12 months.

Based on dividend-adjusted daily data since Dec 4, 2018, FGZMX's average daily return is +0.02%, while the average monthly return is +0.40%. At this rate, an investment would double in approximately 14.5 years.

Historically, 64% of months were positive and 36% were negative. The best month was Nov 2022 with a return of +8.2%, while the worst month was Mar 2020 at -14.5%. The longest winning streak lasted 10 consecutive months, and the longest losing streak was 3 months.

On a daily basis, FGZMX closed higher 47% of trading days. The best single day was Mar 25, 2020 with a return of +3.0%, while the worst single day was Mar 18, 2020 at -5.3%.

Fidelity Advisor New Markets Income Fund Class I has an annualized alpha of 2.11%, beta of 0.16, and R2 of 0.18 versus S&P 500 Index. Calculated based on daily prices since December 06, 2018.

• This fund participated in 55.78% of S&P 500 Index downside but only 35.71% of its upside - more exposed to losses than it benefited from rallies.
• Beta of 0.16 may look defensive, but with R2 of 0.18 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 0.18 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.

FGZMX has an expense ratio of 0.83%, placing it in the medium range.

FGZMX ranks 93 for risk / return — in the top 93% 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 New Markets Income Fund Class I (FGZMX) and compare them to S&P 500 Index.

Fidelity Advisor New Markets Income Fund Class I provided a 4.86% dividend yield over the last twelve months, with an annual payout of $0.68 per share.

The table displays the monthly dividend distributions for Fidelity Advisor New Markets Income 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 New Markets Income 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 New Markets Income Fund Class I was 27.17%, occurring on Oct 21, 2022. Recovery took 477 trading sessions.

The current Fidelity Advisor New Markets Income Fund Class I drawdown is 0.02%.

The chart below shows the rolling one-month volatility.