- ISIN
- US31638R7171
- CUSIP
- 31638R717
- Issuer
- Fidelity
- Inception Date
- Sep 9, 2015
- Category
- Diversified Portfolio
- Distribution Policy
- Distributing
- Asset Class
- Multi-Asset
- Asset Class Size
- Mid-Cap
- Asset Class Style
- Blend
Share Price Chart
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Performance
FMSDX Performance Chart
Fidelity Multi-Asset Income Fund (FMSDX) is up 7.2% since the beginning of the year. FMSDX is currently trading at $16 per share. Investors who bought $1,000 worth of FMSDX shares 5 years ago would now be looking at an investment worth $1,370.
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Returns By Period
Fidelity Multi-Asset Income Fund (FMSDX) has returned 7.21% so far this year and 18.09% over the past 12 months.
Fidelity Multi-Asset Income Fund
- 1D
- 0.74%
- 1M
- -0.54%
- YTD
- 7.21%
- 6M
- 7.07%
- 1Y
- 18.09%
- 3Y*
- 12.18%
- 5Y*
- 6.50%
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- 0.00%
- 1M
- -0.17%
- YTD
- 8.39%
- 6M
- 8.57%
- 1Y
- 24.06%
- 3Y*
- 18.94%
- 5Y*
- 12.24%
- 10Y*
- 13.54%
FMSDX Monthly Returns History
Based on dividend-adjusted daily data since Feb 26, 2018, FMSDX's average daily return is +0.04%, while the average monthly return is +0.79%. At this rate, an investment would double in approximately 7.3 years.
Historically, 63% of months were positive and 37% were negative. The best month was Nov 2020 with a return of +8.1%, while the worst month was Apr 2022 at -6.8%. The longest winning streak lasted 10 consecutive months, and the longest losing streak was 3 months.
On a daily basis, FMSDX closed higher 51% of trading days. The best single day was Mar 24, 2020 with a return of +4.5%, while the worst single day was Mar 16, 2020 at -5.4%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 3.39% | 3.44% | -4.47% | 5.32% | 1.04% | -1.38% | 7.21% | ||||||
| 2025 | 2.42% | -1.23% | -3.14% | 0.22% | 3.42% | 4.34% | 1.98% | 1.42% | 4.21% | 2.41% | -1.64% | -0.83% | 14.10% |
| 2024 | 0.44% | 0.96% | 3.08% | -2.63% | 3.81% | 0.25% | 1.42% | 0.81% | 1.93% | -1.15% | 5.32% | -4.33% | 9.95% |
| 2023 | 5.85% | -0.17% | 0.55% | -0.54% | -1.19% | 2.61% | 1.63% | -1.39% | -2.66% | -1.84% | 4.81% | 3.90% | 11.75% |
| 2022 | -2.63% | -0.43% | 1.43% | -6.77% | -1.91% | -6.13% | 4.51% | -1.08% | -5.24% | 2.02% | 4.32% | -1.92% | -13.67% |
| 2021 | 0.84% | 3.21% | 2.43% | 3.35% | 1.72% | 0.49% | 0.34% | 1.01% | -1.82% | 4.00% | -1.42% | 2.08% | 17.27% |
Benchmark Metrics
Fidelity Multi-Asset Income Fund has an annualized alpha of 3.00%, beta of 0.48, and R2 of 0.77 versus S&P 500 Index. Calculated based on daily prices since February 26, 2018.
- This fund participated in 56.76% of S&P 500 Index downside but only 55.27% of its upside - more exposed to losses than it benefited from rallies.
- This fund generated an annualized alpha of 3.00% versus S&P 500 Index - delivering returns beyond what market exposure alone would predict.
- Beta of 0.48 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
- 3.00%
- Beta
- 0.48
- R²
- 0.77
- Upside Capture
- 55.27%
- Downside Capture
- 56.76%
Expense Ratio
FMSDX has an expense ratio of 0.78%, placing it in the medium range.
Return for Risk
Risk / Return Rank
FMSDX ranks 44 for risk / return — on par with similar mutual funds. You're getting a typical balance of risk and reward. Not a standout, but not a red flag either — a reasonable choice if other factors align with your goals.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Fidelity Multi-Asset Income Fund (FMSDX) 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.
| FMSDX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.22 | ||
| Sortino ratioReturn per unit of downside risk | -0.29 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.35 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.81 | 2.66 | +0.15 |
| Martin ratioReturn relative to average drawdown | 9.29 | 11.86 | -2.57 |
Dividends
Dividend History
Fidelity Multi-Asset Income Fund provided a 3.51% dividend yield over the last twelve months, with an annual payout of $0.57 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.57 | $0.59 | $0.54 | $0.57 | $0.47 | $0.42 | $0.24 | $0.33 | $0.43 |
Dividend yield | 3.51% | 3.81% | 3.84% | 4.23% | 3.74% | 2.81% | 1.79% | 2.82% | 4.36% |
Monthly Dividends
The table displays the monthly dividend distributions for Fidelity Multi-Asset Income Fund. 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 | $0.05 | $0.05 | $0.03 | $0.05 | $0.00 | $0.22 | ||||||
| 2025 | $0.03 | $0.04 | $0.05 | $0.04 | $0.07 | $0.05 | $0.04 | $0.05 | $0.07 | $0.05 | $0.05 | $0.05 | $0.59 |
| 2024 | $0.04 | $0.05 | $0.05 | $0.04 | $0.05 | $0.05 | $0.04 | $0.05 | $0.04 | $0.04 | $0.05 | $0.06 | $0.54 |
| 2023 | $0.04 | $0.06 | $0.04 | $0.04 | $0.05 | $0.04 | $0.04 | $0.06 | $0.04 | $0.05 | $0.05 | $0.04 | $0.57 |
| 2022 | $0.03 | $0.14 | $0.04 | $0.03 | $0.04 | $0.00 | $0.00 | $0.05 | $0.00 | $0.06 | $0.05 | $0.05 | $0.47 |
| 2021 | $0.00 | $0.04 | $0.04 | $0.03 | $0.05 | $0.04 | $0.03 | $0.05 | $0.04 | $0.03 | $0.05 | $0.04 | $0.42 |
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 Multi-Asset Income Fund. 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 Multi-Asset Income Fund was 21.64%, occurring on Mar 23, 2020. Recovery took 53 trading sessions.
The current Fidelity Multi-Asset Income Fund drawdown is 1.84%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
COVID crash2020 | -21.64%Mar 2020 | 1mo 1d | 2mo 17d | 3mo 18dFeb 2020 - Jun 2020 |
Bear market2022 | -18.12%Oct 2022 | 11mo 8d | 1y 5mo | 2y 4moNov 2021 - Mar 2024 |
2025 selloff2025 | -13.17%Apr 2025 | 4mo | 2mo 23d | 6mo 23dDec 2024 - Jun 2025 |
Rate-hike selloffLate 2018 | -7.10%Dec 2018 | 20d | 1mo 7d | 1mo 27dDec 2018 - Jan 2019 |
2026 pullback2026 | -6.47%Mar 2026 | 27d | 18d | 1mo 15dMar 2026 - Apr 2026 |
Drawdown Indicators
| FMSDX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.64% | -56.78% | +35.14% |
Max Drawdown (1Y)Largest decline over 1 year | -6.47% | -9.10% | +2.63% |
Max Drawdown (3Y)Largest decline over 3 years | -13.17% | -18.90% | +5.73% |
Max Drawdown (5Y)Largest decline over 5 years | -18.12% | -25.43% | +7.31% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -1.84% | -2.49% | +0.65% |
Average DrawdownAverage peak-to-trough decline | -3.80% | -10.72% | +6.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.95% | 2.03% | -0.08% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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