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Trending ETFs

Name

As of 02/23/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$9.99

$4.08 B

3.11%

$0.31

0.37%

Vitals

YTD Return

0.2%

1 yr return

3.6%

3 Yr Avg Return

1.3%

5 Yr Avg Return

1.3%

Net Assets

$4.08 B

Holdings in Top 10

22.0%

52 WEEK LOW AND HIGH

$10.0
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.37%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 86.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$0

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 02/23/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$9.99

$4.08 B

3.11%

$0.31

0.37%

FGNSX - Profile

Distributions

  • YTD Total Return 0.2%
  • 3 Yr Annualized Total Return 1.3%
  • 5 Yr Annualized Total Return 1.3%
  • Capital Gain Distribution Frequency Semi-Annually
  • Net Income Ratio 0.66%
DIVIDENDS
  • Dividend Yield 3.1%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Strategic Advisers Tax-Sensitive Short Duration Fund
  • Fund Family Name
    Fidelity Group of Funds
  • Inception Date
    Jan 24, 2018
  • Shares Outstanding
    N/A
  • Share Class
    Other
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Christopher Heavey

Fund Description

Normally investing primarily in U.S. dollar-denominated municipal money market securities and high quality investment-grade municipal debt securities whose interest is exempt from federal income tax (the "municipal strategy"). The Adviser may invest all of the fund's assets in municipal securities whose interest is subject to the federal alternative minimum tax. Potentially investing in taxable money market securities when after-tax yields are viewed as advantageous, taking into account the highest federal tax rates applicable to investment income of individuals (together with the municipal strategy, the "tax-sensitive" strategy) or for liquidity purposes. Normally maintaining a dollar-weighted average maturity of three years or less. Allocating assets across different market sectors and maturities. Potentially investing more than 25% of total assets in municipal securities that finance similar types of projects. Engaging in transactions that have a leveraging effect on the fund, including investments in derivatives - such as swaps (interest rate, total return, and credit default) and futures contracts - and forward-settling securities, to adjust the fund's risk exposure. Implementing investment strategies by investing directly in securities through one or more managers (sub-advisers) or indirectly in securities through one or more other funds, referred to as underlying funds, which in turn invest directly in securities (as described below). Allocating assets among affiliated fixed-income funds (i.e., Fidelity® funds, including mutual funds and ETFs), non-affiliated fixed-income funds that participate in Fidelity's FundsNetwork®, non-affiliated ETFs (collectively, underlying funds), and sub-advisers. Allocating assets among underlying funds and sub-advisers with reference to the interest rate risk of the Bloomberg Municipal Bond 1 Year (1-2 Y) Index (25%) and the iMoneyNetSM All Tax-Free National Retail Money Market Funds Average (75%). Allocating assets among sub-advisers and underlying funds using proprietary fundamental and quantitative research, considering factors including, but not limited to, performance in different market environments, manager experience and investment style, management company infrastructure, costs, asset size, and portfolio turnover. Investing in lower-quality debt securities (those of less than investment-grade quality, also referred to as high yield debt securities or junk bonds). Analyzing the credit quality of the issuer, the issuer's potential for success, the credit, currency and economic risks of the security and its issuer, security-specific features, current and potential future valuation, and trading opportunities to select investments. Pursuant to an exemptive order granted by the Securities and Exchange Commission (SEC), Strategic Advisers LLC (Strategic Advisers) is permitted, subject to the approval of the Board of Trustees, to enter into new or amended sub-advisory agreements with one or more unaffiliated sub-advisers without obtaining shareholder approval of such agreements. Subject to oversight by the Board of Trustees, Strategic Advisers has the ultimate responsibility to oversee the fund's sub-advisers and recommend their hiring, termination, and replacement. In the event the Board of Trustees approves a sub-advisory agreement with a new unaffiliated sub-adviser, shareholders will be provided with information about the new sub-adviser and sub-advisory agreement .
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FGNSX - Performance

Return Ranking - Trailing

Period FGNSX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.2% -2.2% 9.7% 18.46%
1 Yr 3.6% -0.8% 41.9% 83.16%
3 Yr 1.3%* -10.3% 2.8% 2.17%
5 Yr 1.3%* -4.9% 1103.8% 45.40%
10 Yr N/A* -0.2% 248.2% N/A

* Annualized

Return Ranking - Calendar

Period FGNSX Return Category Return Low Category Return High Rank in Category (%)
2023 0.9% -1.4% 41.0% 96.33%
2022 -1.2% -40.2% 0.3% 1.57%
2021 -0.2% -5.6% 6.9% 36.91%
2020 0.2% -2.6% 310.0% 94.14%
2019 0.3% 0.0% 26.0% 99.03%

Total Return Ranking - Trailing

Period FGNSX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.2% -2.2% 9.7% 18.46%
1 Yr 3.6% -0.8% 41.9% 83.16%
3 Yr 1.3%* -10.3% 2.8% 2.17%
5 Yr 1.3%* -4.9% 1103.8% 45.40%
10 Yr N/A* -0.2% 248.2% N/A

* Annualized

Total Return Ranking - Calendar

Period FGNSX Return Category Return Low Category Return High Rank in Category (%)
2023 3.7% -1.3% 41.0% 88.08%
2022 -0.3% -40.2% 1.1% 1.57%
2021 0.3% -4.8% 23761504.0% 79.21%
2020 1.5% -1.5% 17057.9% 93.46%
2019 1.6% 0.2% 3514.6% 98.69%

NAV & Total Return History


FGNSX - Holdings

Concentration Analysis

FGNSX Category Low Category High FGNSX % Rank
Net Assets 4.08 B 3.48 M 68.1 B 8.34%
Number of Holdings 1636 2 12848 3.85%
Net Assets in Top 10 871 M -317 M 3.4 B 1.86%
Weighting of Top 10 21.96% 1.9% 100.4% 33.61%

Top 10 Holdings

  1. Vanguard Ultra Short-Term Tx-Ex Adm 5.98%
  2. JPMorgan Ultra-Short Municipal Inc ETF 5.01%
  3. FIMM MM Government Portfolio - Instl Cl 3.91%
  4. Fidelity Sai Municipal Money Market Fund 1.83%
  5. Federated Hermes Municipal Ultrashort IS 1.55%
  6. CHANDLER AZ IDR 5% MT @ 1.05%
  7. PORT ARTHUR NAV DIST TX ENVIR VAR-REF-MOTIVA ENTERPRISES PJ ***AMT*** 0.69%
  8. CALIFORNIA INFR 0% 1/1/2050 @MT 0.66%
  9. PHX IDA SW 2.1%/VAR MT@ 0.66%
  10. NC TPK TRIANGLE 5% 2/1/2024 0.62%

Asset Allocation

Weighting Return Low Return High FGNSX % Rank
Bonds
81.99% 0.00% 150.86% 98.08%
Stocks
18.50% 0.00% 99.88% 1.02%
Cash
0.33% -50.86% 50.09% 80.58%
Preferred Stocks
0.00% 0.00% 0.52% 56.41%
Other
0.00% -8.54% 33.35% 59.29%
Convertible Bonds
0.00% 0.00% 0.93% 56.31%

Stock Sector Breakdown

Weighting Return Low Return High FGNSX % Rank
Utilities
0.00% 0.00% 0.00% N/A
Technology
0.00% 0.00% 0.00% N/A
Real Estate
0.00% 0.00% 0.00% N/A
Industrials
0.00% 0.00% 100.00% N/A
Healthcare
0.00% 0.00% 0.00% N/A
Financial Services
0.00% 0.00% 0.00% N/A
Energy
0.00% 0.00% 0.00% N/A
Communication Services
0.00% 0.00% 100.00% N/A
Consumer Defense
0.00% 0.00% 0.00% N/A
Consumer Cyclical
0.00% 0.00% 100.00% N/A
Basic Materials
0.00% 0.00% 0.00% N/A

Stock Geographic Breakdown

Weighting Return Low Return High FGNSX % Rank
US
18.50% 0.00% 99.88% 1.03%
Non US
0.00% 0.00% 13.09% 57.82%

Bond Sector Breakdown

Weighting Return Low Return High FGNSX % Rank
Municipal
66.05% 44.39% 100.00% 99.81%
Cash & Equivalents
0.33% 0.00% 48.02% 43.97%
Derivative
0.00% -8.54% 24.50% 57.44%
Securitized
0.00% 0.00% 5.93% 56.63%
Corporate
0.00% 0.00% 9.41% 64.29%
Government
0.00% 0.00% 52.02% 59.97%

Bond Geographic Breakdown

Weighting Return Low Return High FGNSX % Rank
US
81.99% 0.00% 142.23% 98.01%
Non US
0.00% 0.00% 23.89% 58.78%

FGNSX - Expenses

Operational Fees

FGNSX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.37% 0.03% 20.65% 92.16%
Management Fee 0.32% 0.00% 1.20% 19.41%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.44% N/A

Sales Fees

FGNSX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.50% 4.75% N/A
Deferred Load N/A 0.25% 5.00% N/A

Trading Fees

FGNSX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 1.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

FGNSX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 86.00% 0.00% 283.00% 98.11%

FGNSX - Distributions

Dividend Yield Analysis

FGNSX Category Low Category High FGNSX % Rank
Dividend Yield 3.11% 0.00% 4.61% 59.19%

Dividend Distribution Analysis

FGNSX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Monthly Monthly Monthly

Net Income Ratio Analysis

FGNSX Category Low Category High FGNSX % Rank
Net Income Ratio 0.66% -0.53% 5.33% 93.77%

Capital Gain Distribution Analysis

FGNSX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Semi-Annually Annually Annually Annually

Distributions History

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FGNSX - Fund Manager Analysis

Managers

Christopher Heavey


Start Date

Tenure

Tenure Rank

Dec 28, 2017

4.42

4.4%

Christopher Heavey is portfolio manager. Since joining Fidelity Investments in 1998, Mr. Heavey has worked as a senior research analyst and portfolio manager.

Jonathan Duggan


Start Date

Tenure

Tenure Rank

Apr 11, 2019

3.14

3.1%

Jonathan Duggan is lead portfolio manager of the fund, which he has managed since 2018. He also manages other funds. Since joining Fidelity Investments in 2007, Mr. Duggan has worked as team leader of fixed income research and portfolio manager.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 35.05 7.35 1.58