Fidelity Advisor Government Income Fund Class Z (FIKPX)

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Fidelity Advisor Government Income Fund Class Z (FIKPX) is up 0.4% since the beginning of the year. FIKPX is currently trading at $9 per share. Investors who bought $1,000 worth of FIKPX shares 5 years ago would now be looking at an investment worth $981.

Fidelity Advisor Government Income Fund Class Z (FIKPX) has returned 0.37% so far this year and 4.75% over the past 12 months.

Based on dividend-adjusted daily data since Oct 17, 2018, FIKPX's average daily return is +0.01%, while the average monthly return is +0.13%. At this rate, an investment would double in approximately 44.5 years.

Historically, 54% of months were positive and 46% were negative. The best month was Nov 2023 with a return of +4.2%, while the worst month was Sep 2022 at -4.1%. The longest winning streak lasted 5 consecutive months, and the longest losing streak was 6 months.

On a daily basis, FIKPX closed higher 45% of trading days. The best single day was Mar 16, 2020 with a return of +2.0%, while the worst single day was Mar 17, 2020 at -1.8%.

Fidelity Advisor Government Income Fund Class Z has an annualized alpha of 1.97%, beta of -0.02, and R2 of 0.01 versus S&P 500 Index. Calculated based on daily prices since October 18, 2018.

• This fund participated in 13.37% of S&P 500 Index downside but only 8.80% 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.

FIKPX has an expense ratio of 0.36%, placing it in the medium range.

FIKPX ranks 16 for risk / return — in the bottom 16% of mutual funds on our site. This means you're taking on significantly more risk than the returns justify. Consider whether the potential upside is worth the volatility, or explore alternatives with better risk / return profiles.

The table below present risk-adjusted performance metrics for Fidelity Advisor Government Income Fund Class Z (FIKPX) and compare them to S&P 500 Index.

Fidelity Advisor Government Income Fund Class Z provided a 3.57% dividend yield over the last twelve months, with an annual payout of $0.33 per share.

The table displays the monthly dividend distributions for Fidelity Advisor Government Income Fund Class Z. 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 Government Income Fund Class Z. 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 Government Income Fund Class Z was 19.71%, occurring on Oct 19, 2023. The portfolio has not yet recovered.

The current Fidelity Advisor Government Income Fund Class Z drawdown is 6.06%.

The chart below shows the rolling one-month volatility.