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Fidelity Tactical High Income Currency Neutral Fund Series B

Tactical Balanced

FundGrade B Click for more information on Fundata’s FundGrade

FundGrade B

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FundGrade A+® Rating Recipient

FundGrade A+® Rating Recipient

2021, 2020

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NAVPS
(05-21-2024)
$13.35
Change
$0.08 (0.61%)

As at April 30, 2024

As at December 31, 2023

Period
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Legend

Fidelity Tactical High Income Currency Neutral Fund Series B

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Fund Returns

Inception Return (May 28, 2014): 4.78%

Fund Returns
Row Heading Return Annualized Return
1 Mth 3 Mth 6 Mth YTD 1 Yr 2 Yr 3 Yr 4 Yr 5 Yr 6 Yr 7 Yr 8 Yr 9 Yr 10 Yr
Fund -3.09% 0.87% 9.89% 1.12% 5.20% 1.86% -0.17% 6.81% 5.99% 6.32% 5.08% 5.47% 4.77% -
Benchmark -1.57% 3.31% 11.56% 4.12% 9.21% 7.74% 3.11% 5.05% 4.84% 5.39% 5.04% 6.48% 6.12% 6.83%
Category Average -1.86% 10.82% 10.82% 2.44% 6.13% 3.95% 1.99% 5.27% 3.72% 3.71% 3.28% 4.13% 3.31% 3.59%
Category Rank 347 / 359 241 / 357 174 / 357 224 / 357 201 / 355 263 / 355 299 / 339 90 / 331 50 / 314 46 / 296 57 / 273 84 / 252 69 / 189 -
Quartile Ranking 4 3 2 3 3 3 4 2 1 1 1 2 2 -

Monthly Return

Monthly Return
Return % May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr
Fund -1.27% 2.39% 1.50% -1.55% -3.13% -2.17% 4.81% 3.68% 0.24% 0.86% 3.21% -3.09%
Benchmark -1.31% 0.46% 1.75% 0.57% -3.70% 0.21% 5.00% 2.05% 0.78% 3.10% 1.80% -1.57%

Best Monthly Return Since Inception

7.62% (November 2020)

Worst Monthly Return Since Inception

-7.24% (March 2020)

Calendar Return (%)

Calendar Return
Return % 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Fund - 0.70% 8.52% 3.69% -5.36% 19.72% 12.72% 14.99% -14.35% 9.29%
Benchmark 12.44% 17.05% 2.39% 8.66% 2.68% 12.26% 11.12% 6.48% -11.62% 11.69%
Category Average 6.78% 0.31% 5.78% 6.18% -5.55% 12.58% 5.65% 9.53% -9.83% 8.35%
Quartile Ranking - 4 1 4 4 1 1 1 4 2
Category Rank - 126/ 163 47/ 207 216/ 271 253/ 293 4/ 309 24/ 329 61/ 333 332/ 354 130/ 355

Best Calendar Return (Last 10 years)

19.72% (2019)

Worst Calendar Return (Last 10 years)

-14.35% (2022)

Asset Allocation

Asset Allocation
Name Percent
Foreign Government Bonds 38.12
US Equity 29.93
Foreign Corporate Bonds 14.62
Cash and Equivalents 7.78
International Equity 6.55
Other 3.00

Sector Allocation

Sector Allocation
Name Percent
Fixed Income 53.48
Technology 9.28
Cash and Cash Equivalent 7.79
Energy 4.93
Healthcare 4.87
Other 19.65

Geographic Allocation

Geographic Allocation
Name Percent
North America 74.00
Multi-National 17.66
Latin America 3.92
Europe 3.85
Other 0.57

Top Holdings

Top Holdings
Name Percent
United States Treasury 3.88% 15-Feb-2043 -
United States Treasury 3.50% 30-Apr-2030 -
United States Treasury 4.13% 31-Jul-2028 -
United States Treasury 4.13% 15-Nov-2032 -
United States Treasury 4.00% 30-Jun-2028 -
Microsoft Corp -
CAD 1/4/2024 FORWARD CC -
DHT Holdings Inc -
Amazon.com Inc -
Uber Technologies Inc 7.50% 01-Feb-2024 -

Equity Style

Market capitalization is large. Equity style is growth.

Fixed Income Style

Average Duration: M. Average Credit Quality: M.
Period: 

Risk vs Return (3 Yr)

Fidelity Tactical High Income Currency Neutral Fund Series B

Median

Other - Tactical Balanced

3 Yr Annualized

Standard Deviation 10.23% 10.90% -
Beta 0.94% 1.09% -
Alpha -0.03% 0.01% -
Rsquared 0.69% 0.66% -
Sharpe -0.24% 0.41% -
Sortino -0.34% 0.46% -
Treynor -0.03% 0.04% -
Tax Efficiency - 88.27% -
Volatility Volatility rating is 5 on a scale of 1 to 10 Volatility rating is 4 on a scale of 1 to 10 -

Risk Rating

Rating 5 out of ten

Annualized Key Ratio Period Comparison

Key Ratio
Key Ratio 1 Yr 3 Yr 5 Yr 10 Yr
Standard Deviation 9.42% 10.23% 10.90% -
Beta 0.99% 0.94% 1.09% -
Alpha -0.04% -0.03% 0.01% -
Rsquared 0.69% 0.69% 0.66% -
Sharpe 0.07% -0.24% 0.41% -
Sortino 0.43% -0.34% 0.46% -
Treynor 0.01% -0.03% 0.04% -
Tax Efficiency 83.44% - 88.27% -

Fund Details

Start Date May 28, 2014
Instrument Type Mutual Fund
Share Class Commission Based Advice
Legal Status Trust
Sales Status Open
Currency CAD
Distribution Frequency Monthly
Assets ($mil) $69

Fund Codes

FundServ Code Load Code Sales Status
FID2484

Investment Objectives

The Fund aims to provide income and capital growth. It seeks a similar return to its underlying fund, which is also managed by Fidelity, by investing substantially all of its assets in units of that fund. The underlying fund aims to provide income and capital growth by investing primarily in a mix of income-producing securities which may be located anywhere in the world.

Investment Strategy

The strategies described below relate to the Fund and the underlying fund, Fidelity Tactical High Income Fund. To meet the Fund’s objectives, the portfolio management team of the underlying fund: Focuses primarily on a company’s financial stability, its potential to generate sustainable return on equity over time, and its valuation. Invests in companies that it believes are undervalued in the marketplace.

Portfolio Manager(s)

Name Start Date
Ford O'Neil 05-28-2014
Adam Kramer 05-28-2014
Ramona Persaud 02-20-2020
Fidelity Management & Research Company LLC 02-06-2023

Management and Organization

Fund Manager Fidelity Investments Canada ULC
Advisor Fidelity Investments Canada ULC
Custodian State Street Trust Company Canada
Registrar Fidelity Investments Canada ULC
Distributor -
Auditor PriceWaterhouseCoopers LLP

Investment Minimums

RSP Eligible Yes
PAC Allowed Yes
PAC Initial Investment 25
PAC Subsequent 25
SWP Allowed Yes
SWP Min Balance 5,000
SWP Min Withdrawal 25

Fees

MER 2.14%
Management Fee 1.75%
Load Back Fee Only
FE Max 5.00%
DSC Max -
Trailer Fee Max (FE) 1.00%
Trailer Fee Max (DSC) -
Trailer Fee Max (NL) -
Trailer Fee Max (LL) -

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