- ISIN
- US3158068029
- Issuer
- Fidelity
- Inception Date
- Oct 2, 2018
- Category
- High Yield Bonds
- Min. Investment
- $0
- Distribution Policy
- Distributing
- Asset Class
- Bond
Share Price Chart
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Performance
FIQTX Performance Chart
Fidelity Advisor High Income Advantage Fund Class Z (FIQTX) is up 4.9% since the beginning of the year. FIQTX is currently trading at $12 per share. Investors who bought $1,000 worth of FIQTX shares 5 years ago would now be looking at an investment worth $1,331.
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Returns By Period
Fidelity Advisor High Income Advantage Fund Class Z (FIQTX) has returned 4.93% so far this year and 10.13% over the past 12 months.
Fidelity Advisor High Income Advantage Fund Class Z
- 1D
- 0.92%
- 1M
- -1.55%
- 6M
- 3.35%
- YTD
- 4.93%
- 1Y
- 10.13%
- 3Y*
- 10.64%
- 5Y*
- 5.89%
- 10Y*
- —
- ALL TIME*
- 7.27%
Benchmark (S&P 500 Index)
- 1D
- 0.70%
- 1M
- 0.09%
- 6M
- 7.94%
- YTD
- 9.41%
- 1Y
- 20.07%
- 3Y*
- 17.84%
- 5Y*
- 11.25%
- 10Y*
- 13.26%
- ALL TIME*
- 8.09%
FIQTX Monthly Returns History
Based on dividend-adjusted daily data since Oct 17, 2018, FIQTX's average daily return is +0.03%, while the average monthly return is +0.63%. At this rate, an investment would double in approximately 9.2 years.
Historically, 66% of months were positive and 34% were negative. The best month was Nov 2020 with a return of +7.0%, while the worst month was Mar 2020 at -14.7%. The longest winning streak lasted 10 consecutive months, and the longest losing streak was 4 months.
On a daily basis, FIQTX closed higher 50% of trading days. The best single day was Mar 26, 2020 with a return of +3.9%, while the worst single day was Mar 16, 2020 at -5.5%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 1.53% | 0.64% | -1.33% | 4.50% | 1.67% | 0.55% | -2.58% | 4.93% | |||||
| 2025 | 1.91% | -0.73% | -2.23% | 0.40% | 3.01% | 3.37% | 1.60% | 0.99% | 1.76% | 1.03% | -0.39% | 0.96% | 12.17% |
| 2024 | 0.60% | 1.64% | 1.83% | -1.36% | 1.93% | 0.77% | 0.96% | 0.68% | 1.76% | 0.21% | 2.38% | -1.40% | 10.38% |
| 2023 | 4.10% | -1.29% | 0.84% | 0.82% | -0.94% | 2.20% | 1.89% | -0.28% | -1.42% | -2.00% | 4.62% | 3.44% | 12.37% |
| 2022 | -3.27% | -0.97% | -0.24% | -3.81% | 0.61% | -7.03% | 5.77% | -1.62% | -5.09% | 3.36% | 2.67% | -1.42% | -11.16% |
| 2021 | 0.18% | 2.67% | 0.79% | 1.72% | 0.60% | 1.69% | 0.35% | 1.34% | -0.34% | 0.83% | -1.49% | 2.32% | 11.13% |
Benchmark Metrics
Fidelity Advisor High Income Advantage Fund Class Z has an annualized alpha of 2.37%, beta of 0.35, and R2 of 0.67 versus S&P 500 Index. Calculated based on daily prices since October 17, 2018.
- This fund participated in 55.33% of S&P 500 Index downside but only 46.10% of its upside - more exposed to losses than it benefited from rallies.
- This fund generated an annualized alpha of 2.37% versus S&P 500 Index - delivering returns beyond what market exposure alone would predict.
- Beta of 0.35 indicates this fund moves significantly less than S&P 500 Index - a genuinely defensive profile with reduced participation in both market rallies and downturns.
- Alpha
- 2.37%
- Beta
- 0.35
- R²
- 0.67
- Upside Capture
- 46.10%
- Downside Capture
- 55.33%
Expense Ratio
FIQTX has an expense ratio of 0.64%, placing it in the medium range.
Return for Risk
Risk / Return Rank
FIQTX ranks 67 for risk / return — above 67% of mutual funds peers on PortfoliosLab. Its historical combined result is above most peers.
Risk / Return Metrics
The table below present risk-adjusted performance metrics for Fidelity Advisor High Income Advantage Fund Class Z (FIQTX) 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.
| FIQTX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.14 | ||
| Sortino ratioReturn per unit of downside risk | +0.24 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.25 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 2.67 | 2.00 | +0.67 |
| Martin ratioReturn relative to average drawdown | 10.37 | 8.49 | +1.88 |
Dividends
Dividend History
Fidelity Advisor High Income Advantage Fund Class Z provided a 4.22% dividend yield over the last twelve months, with an annual payout of $0.51 per share. The fund has been increasing its distributions for 2 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.51 | $0.57 | $0.56 | $0.50 | $0.73 | $0.59 | $0.43 | $0.49 | $0.24 |
Dividend yield | 4.22% | 4.83% | 5.06% | 4.79% | 7.43% | 5.01% | 3.80% | 4.61% | 2.54% |
Monthly Dividends
The table displays the monthly dividend distributions for Fidelity Advisor High Income Advantage Fund Class Z. 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 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.00 | $0.24 | |||||
| 2025 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.10 | $0.57 |
| 2024 | $0.04 | $0.04 | $0.05 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.08 | $0.56 |
| 2023 | $0.04 | $0.04 | $0.04 | $0.04 | $0.05 | $0.04 | $0.04 | $0.04 | $0.04 | $0.00 | $0.04 | $0.08 | $0.50 |
| 2022 | $0.03 | $0.03 | $0.03 | $0.03 | $0.04 | $0.00 | $0.00 | $0.04 | $0.00 | $0.04 | $0.04 | $0.45 | $0.73 |
| 2021 | $0.00 | $0.00 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.32 | $0.59 |
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 Advantage 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 High Income Advantage Fund Class Z was 28.49%, occurring on Mar 23, 2020. Recovery took 159 trading sessions.
The current Fidelity Advisor High Income Advantage Fund Class Z drawdown is 2.83%.
Drawdown | Fall | Recovery | Underwater | Related event |
|---|---|---|---|---|
-28.49%Mar 2020 | 1mo 2d | 7mo 17d | 8mo 19dFeb 2020 - Nov 2020 | COVID crash2020 |
-15.16%Sep 2022 | 8mo 29d | 1y 3mo | 2y 22dJan 2022 - Jan 2024 | Bear market2022 |
-8.66%Dec 2018 | 2mo 7d | 1mo 12d | 3mo 19dOct 2018 - Feb 2019 | Rate-hike selloffLate 2018 |
-6.96%Apr 2025 | 1mo 18d | 1mo 8d | 2mo 26dFeb 2025 - May 2025 | 2025 selloff2025 |
-3.71%Jul 2026 | 1mo 6d | — | 1mo 11dJun 2026 - now | — |
Drawdown Indicators
| FIQTX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.49% | -56.78% | +28.29% |
Max Drawdown (1Y)Largest decline over 1 year | -3.71% | -9.10% | +5.39% |
Max Drawdown (3Y)Largest decline over 3 years | -6.96% | -18.90% | +11.94% |
Max Drawdown (5Y)Largest decline over 5 years | -15.16% | -25.43% | +10.27% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -2.83% | -1.58% | -1.25% |
Average DrawdownAverage peak-to-trough decline | -3.26% | -10.70% | +7.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.95% | 2.14% | -1.19% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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