Fidelity Advisor Short Duration High Income Fund Class C (FSDHX)

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Fidelity Advisor Short Duration High Income Fund Class C (FSDHX) is up 2.6% since the beginning of the year. FSDHX is currently trading at $9 per share. Investors who bought $1,000 worth of FSDHX shares 5 years ago would now be looking at an investment worth $1,183.

Fidelity Advisor Short Duration High Income Fund Class C (FSDHX) has returned 2.63% so far this year and 8.04% over the past 12 months. Over the last ten years, FSDHX has returned 3.59% per year, falling short of the S&P 500 Index benchmark, which averaged 13.75% annually.

Based on dividend-adjusted daily data since Nov 19, 2013, FSDHX's average daily return is +0.01%, while the average monthly return is +0.24%. At this rate, an investment would double in approximately 24.1 years.

Historically, 64% of months were positive and 36% were negative. The best month was Apr 2020 with a return of +3.9%, while the worst month was Mar 2020 at -7.9%. The longest winning streak lasted 10 consecutive months, and the longest losing streak was 6 months.

On a daily basis, FSDHX closed higher 38% of trading days. The best single day was Mar 26, 2020 with a return of +3.5%, while the worst single day was Mar 16, 2020 at -3.1%.

Fidelity Advisor Short Duration High Income Fund Class C has an annualized alpha of 1.17%, beta of 0.13, and R2 of 0.29 versus S&P 500 Index. Calculated based on daily prices since November 20, 2013.

• This fund participated in 28.67% of S&P 500 Index downside but only 20.82% of its upside - more exposed to losses than it benefited from rallies.
• Beta of 0.13 may look defensive, but with R2 of 0.29 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 0.29 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.

FSDHX has a high expense ratio of 1.75%, indicating above-average management fees.

FSDHX ranks 93 for risk / return — in the top 93% 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.

The table below present risk-adjusted performance metrics for Fidelity Advisor Short Duration High Income Fund Class C (FSDHX) and compare them to S&P 500 Index.

Fidelity Advisor Short Duration High Income Fund Class C provided a 6.26% dividend yield over the last twelve months, with an annual payout of $0.57 per share. The fund has been increasing its distributions for 3 consecutive years.

The table displays the monthly dividend distributions for Fidelity Advisor Short Duration High Income Fund Class C. 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 Short Duration High Income Fund Class C. 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 Short Duration High Income Fund Class C was 16.84%, occurring on Mar 23, 2020. Recovery took 112 trading sessions.

The chart below shows the rolling one-month volatility.