Fidelity Advisor Mortgage Securities Fund Class I (FMSCX)

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Fidelity Advisor Mortgage Securities Fund Class I (FMSCX) is up 0.8% since the beginning of the year. FMSCX is currently trading at $10 per share. Investors who bought $1,000 worth of FMSCX shares 5 years ago would now be looking at an investment worth $996.

Fidelity Advisor Mortgage Securities Fund Class I (FMSCX) has returned 0.80% so far this year and 6.85% over the past 12 months. Over the last ten years, FMSCX has returned 1.13% per year, falling short of the S&P 500 Index benchmark, which averaged 13.66% annually.

Based on dividend-adjusted daily data since Jan 2, 1998, FMSCX's average daily return is +0.01%, while the average monthly return is +0.28%. At this rate, an investment would double in approximately 20.7 years.

Historically, 67% of months were positive and 33% were negative. The best month was Nov 2023 with a return of +5.6%, while the worst month was Sep 2022 at -5.3%. The longest winning streak lasted 15 consecutive months, and the longest losing streak was 9 months.

On a daily basis, FMSCX closed higher 40% of trading days. The best single day was Nov 10, 2022 with a return of +2.5%, while the worst single day was Sep 26, 2022 at -2.1%.

Fidelity Advisor Mortgage Securities Fund Class I has an annualized alpha of 3.58%, beta of -0.01, and R2 of 0.00 versus S&P 500 Index. Calculated based on daily prices since January 05, 1998.

• This fund captured 10.27% of S&P 500 Index gains and tended to rise during its downturns (downside capture of -2.42%) - a profile typical of hedging or uncorrelated assets.
• Beta of -0.01 may look defensive, but with R2 of 0.00 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 0.00 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.

FMSCX has an expense ratio of 0.51%, placing it in the medium range.

FMSCX ranks 33 for risk / return — below 33% of mutual funds on our site. The returns aren't fully compensating for the risk involved. This isn't necessarily a dealbreaker, but factor it into your decision — especially if you're risk-averse.

The table below present risk-adjusted performance metrics for Fidelity Advisor Mortgage Securities Fund Class I (FMSCX) and compare them to S&P 500 Index.

Fidelity Advisor Mortgage Securities Fund Class I provided a 3.76% dividend yield over the last twelve months, with an annual payout of $0.37 per share. The fund has been increasing its distributions for 4 consecutive years.

The table displays the monthly dividend distributions for Fidelity Advisor Mortgage Securities 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 Mortgage Securities 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 Mortgage Securities Fund Class I was 18.90%, occurring on Oct 19, 2023. The portfolio has not yet recovered.

The current Fidelity Advisor Mortgage Securities Fund Class I drawdown is 1.43%.

The chart below shows the rolling one-month volatility.