Fidelity New Markets Income Fund (FNMIX)

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Fidelity New Markets Income Fund (FNMIX) is up 4.3% since the beginning of the year. FNMIX is currently trading at $14 per share. Investors who bought $1,000 worth of FNMIX shares 5 years ago would now be looking at an investment worth $1,208.

Fidelity New Markets Income Fund (FNMIX) has returned 4.33% so far this year and 15.76% over the past 12 months. Over the last ten years, FNMIX has returned 4.02% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.

Based on dividend-adjusted daily data since May 4, 1993, FNMIX's average daily return is +0.03%, while the average monthly return is +0.76%. At this rate, an investment would double in approximately 7.6 years.

Historically, 69% of months were positive and 31% were negative. The best month was Aug 1994 with a return of +11.0%, while the worst month was Aug 1998 at -36.2%. The longest winning streak lasted 14 consecutive months, and the longest losing streak was 6 months.

On a daily basis, FNMIX closed higher 51% of trading days. The best single day was Sep 1, 1998 with a return of +8.5%, while the worst single day was Aug 27, 1998 at -11.7%.

Fidelity New Markets Income Fund has an annualized alpha of 6.89%, beta of 0.20, and R2 of 0.12 versus S&P 500 Index. Calculated based on daily prices since May 04, 1993.

• This fund participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (53.58%) than losses (44.49%) - typical of diversified or defensive assets.
• Beta of 0.20 may look defensive, but with R2 of 0.12 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 0.12 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.

FNMIX has an expense ratio of 0.80%, placing it in the medium range.

FNMIX ranks 94 for risk / return — in the top 94% 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.

Fidelity New Markets Income Fund provided a 4.86% dividend yield over the last twelve months, with an annual payout of $0.69 per share.

The table displays the monthly dividend distributions for Fidelity New Markets Income Fund. 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 New Markets 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 New Markets Income Fund was 42.76%, occurring on Mar 8, 1995. Recovery took 355 trading sessions.

The current Fidelity New Markets Income Fund drawdown is 0.21%.

The chart below shows the rolling one-month volatility.