Morningstar Fund Report  | 07/04/2025Print

Fidelity Funds - US High Yield Fund W-Acc-GBP

Performance History31/03/2025
Growth of 1,000 (GBP) Advanced Graph
Fidelity Funds - US High Yield Fund W-Acc-GBP
Fund7.21.95.18.5-2.5
+/-Cat2.21.70.1-0.3-0.2
+/-B’mrk1.01.8-2.0-1.6-0.5
 
Category: USD High Yield Bond
Category Benchmark: Morningstar US HY Bd TR USD
Key Stats
NAV
04/04/2025		 GBP 2.01
Day Change 0.35%
Morningstar Category™ USD High Yield Bond
IA (formerly IMA) Sector -
ISIN LU1033664530
Fund Size (Mil)
28/02/2025		 USD 2632.18
Share Class Size (Mil)
04/04/2025		 GBP 5.37
Max Initial Charge -
Ongoing Charge
28/03/2025		  0.89%
Investment Objective: Fidelity Funds - US High Yield Fund W-Acc-GBP
The fund aims to achieve capital growth over time and provide a high level of income.
Returns
Trailing Returns (GBP)04/04/2025
YTD-4.82
3 Years Annualised3.57
5 Years Annualised5.44
10 Years Annualised5.66
12 Month Yield 0.00
Management
Manager Name
Start Date
Peter Khan
28/02/2022
Olivier Simon-Vermot
28/02/2022
Inception Date
11/03/2014

Category Benchmark
Fund BenchmarkMorningstar Benchmark
ICE BofA US HY Constnd TR USDMorningstar US HY Bd TR USD
Portfolio Profile for  Fidelity Funds - US High Yield Fund W-Acc-GBP28/02/2025
Fixed Income
Effective Maturity5.83
Effective Duration2.90
Morningstar Style Box®
Fixed Income Style
Asset Allocation
  % Long% Short% Net Assets
Stock0.440.000.44
Bond96.023.8692.15
Property0.000.000.00
Cash7.451.456.00
Other1.410.001.40
Growth Of 1000 (GBP) 31/03/2025
Fund:  Fidelity Funds - US High Yield Fund W-Acc-GBP
Category:  USD High Yield Bond
Category Index:  Morningstar US HY Bd TR USD
Growth of 1,000 GBP
Annual Returns (GBP)31/03/2025
 201820192020202120222023202431/03
Price Return2.4310.660.957.191.875.138.52-2.46
+/- Category-0.632.47-0.812.211.680.10-0.29-0.19
+/- Category Index-1.490.75-2.780.971.76-1.96-1.62-0.46
% Rank in Category591866925525769
Trailing Returns (GBP)04/04/2025
   Total Returns   +/- Category   +/- Category Index
1 Day0.35   -0.32-0.20
1 Week-2.14   -0.35-0.15
1 Month-4.51   -0.29-0.02
3 Months-5.76   -0.38-0.39
6 Months-0.10   -0.75-0.80
YTD-4.82   -0.60-0.68
1 Year1.93   -0.82-1.85
3 Years Annualised3.57   -0.10-1.14
5 Years Annualised5.44   0.52-0.84
10 Years Annualised5.66   0.63-0.57
 
Category: USD High Yield Bond
Category Index: Morningstar US HY Bd TR USD
Quarterly Returns (GBP)31/03/2025
 Quarter 1Quarter 2Quarter 3Quarter 4
2025-2.46---
20242.000.65-1.307.09
20230.22-1.624.541.99
2022-0.66-2.058.98-3.94
20210.183.123.590.17
2020-8.159.91-0.180.18
 
 
 
Morningstar Rating™(Relative to Category)31/03/2025
 Morningstar ReturnMorningstar RiskMorningstar Rating™
3-YearAverageAverage3 star
5-YearAbove AverageAverage4 star
10-YearAbove AverageAbove Average4 star
Overall*Above AverageAbove Average4 star
 
Category :  USD High Yield BondClick here to see our Methodology
Volatility Measurements31/03/2025
 
3-Yr Std Dev6.19 %
3-Yr Mean Return4.69 %
 
3-Yr Sharpe Ratio0.10
 
Modern Portfolio Statistics31/03/202531/03/2025
 Standard IndexBest Fit Index
 Morningstar US HY Bd TR USD  Morningstar US HY Bd TR USD
3-Yr Beta0.940.94
3-Yr Alpha-1.07-1.07
 
Fixed Income Style28/02/2025
Morningstar Style Box®
Fixed Income Style
SizeRel to Cat
Total Market Value (Mil)USD 2632
Maturity Distribution %
1 to 38.49
3 to 532.93
5 to 735.96
7 to 1016.51
10 to 150.84
15 to 200.30
20 to 300.49
Over 300.50
Effective Maturity5.83
Effective Duration2.90
Credit Quality Breakdown %     %
AAA0.27   BB48.42
AA1.87   B35.93
A0.00   Below B9.17
BBB2.51   Not Rated1.83
 
Category: USD High Yield Bond
Asset Allocation28/02/2025
Asset Allocation
 % Long% Short% Net Assets
Stock0.440.000.44
Bond96.023.8692.15
Property0.000.000.00
Cash7.451.456.00
Other1.410.001.40
Top 10 Holdings28/02/2025
 Portfolio NEW
Total Number of Equity Holdings7
Total Number of Bond Holdings356
Assets in Top 10 Holdings12.31
NameSectorCountry% of Assets
5 Year Treasury Note Future June 25United States3.56
United States Treasury Bills 0%United States1.78
EchoStar Corp. 6.75%United States1.16
Windstream Services LLC / Windstream ... United States1.06
Western Digital Corp. 3.1%United States0.87
Smyrna Ready Mix Concrete LLC 8.875%United States0.83
Jane Street Group LLC / JSG Finance I... United States0.81
Magnera Corp. 7.25%United States0.77
Clear Channel Outdoor Holdings Inc Ne... United States0.74
DISH Network Corporation 11.75%United States0.73
 
Increase Decrease New since last portfolio
Category: USD High Yield Bond
 
Management
Name of CompanyFidelity (FIL Inv Mgmt (Lux) S.A.)
Phone+ 352 250 404 2400
Websitewww.fidelity-international.com
Address2a, rue Albert Borschette
 Luxembourg   L-1246
 Luxembourg
DomicileLuxembourg
Legal StructureSICAV
UCITSYes
Inception Date11/03/2014
Fund Advisor(s)
FIL Fund Management Limited
Fund ManagerPeter Khan
Manager Start Date28/02/2022
Career Start Year1993
Education
New York University (Stern), M.B.A.
University of California, A.B.
 
Biography
"Peter Khan is Portfolio Manager of Fidelity’s US High Yield, Global High Yield and Total Return Credit (Multi-Asset Credit and Global Income) strategies. Peter joined Fidelity in 2000 as a trader and was promoted to Head of Trading in 2003. Peter became a portfolio manager in 2009 and is a lead or co-manager for a number of global fixed income portfolios, including Fidelity’s US High Yield, Global High Yield and Global Income strategies. Peter is a key member of both Fidelity’s High Yield and Unconstrained Bond strategy teams. Prior to Fidelity, he was with Bayerische Hypo-und-Vereinsbank as the Head of Trading of the London Eurobond desk."
Fund ManagerOlivier Simon-Vermot
Manager Start Date28/02/2022
Fees and Expenses
Sales Charges (Maximum) 
Max Initial Chargen/a
Max Exit Charge*n/a
Annual Charges
Max Annual Management Charge0.65%
Ongoing Charge0.89%
Purchase Details
Minimum Investments
Initial-
Additional-
Savings-
Tax Free Savings Schemes
ISAsYes