Fund Evaluator:
Fidelity Advisor Short-Term Bd C (FANCX)
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Fund Details
Fidelity Advisor Short-Term Bd C Overview
Fidelity Advisor Short-Term Bd C (FANCX) is an actively managed Taxable Bond Short-Term Bond fund. Fidelity Investments launched the fund in 2016.
The investment seeks to obtain a high level of current income consistent with preservation of capital. The fund normally invests at least 80% of assets in investment-grade debt securities (those of medium and high quality) of all types and repurchase agreements for those securities. Its manager manages the fund to have similar overall interest rate risk to the Bloomberg Barclays U.S. 1-3 Year Government/Credit Bond Index. The fund normally maintains a dollar-weighted average maturity of three years or less. It allocates assets across different market sectors and maturities. The fund invests in domestic and foreign issuers.
About Fidelity Advisor Short-Term Bd C (FANCX)
There are 3 members of the management team with an average tenure of 9.13 years: Robert Galusza (2007), David DeBiase (2019), John Mistovich (2024). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: Bloomberg US Agg Bond TR USD index with a weighting of 100% and Bloomberg US Govt/Credit 1-3 Yr TR USD index with a weighting of 100%. Fidelity Advisor Short-Term Bd C has 479 securities in its portfolio. The top 10 holdings constitute 43.2% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
Fidelity Advisor Short-Term Bd C is part of the Fixed Income global asset class and is within the Taxable Bond fund group. Fidelity Advisor Short-Term Bd C has 19.4% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0%. There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 99.8% (80.4% domestic bond, 19.4% foreign bond and 0.0% convertible bond). Fidelity Advisor Short-Term Bd C has 0.2% of the portfolio in cash.
Assets Under Management
The fund has $15 million in total assets, which is below the $893 million average for the Short-Term Bond category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
FANCX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Fidelity Advisor Short-Term Bd C expense ratio is high compared to funds in the Short-Term Bond category. Fidelity Advisor Short-Term Bd C has an expense ratio of 1.36%, which is 106% higher than its category average, making the fund expense ratio grade a F. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Fidelity Advisor Short-Term Bd C has a portfolio turnover rate of 59%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 134% for the Short-Term Bond category.
Recently, in the month of June 2026, Fidelity Advisor Short-Term Bd C returned 0.1%, which earned it a grade of D, as the Short-Term Bond category had an average return of 0.1%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
Fidelity Advisor Short-Term Bd C has a trailing yield of 3.09%, which is below the 4.15% category average. The fund normally distributes its income monthly.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Fidelity Advisor Short-Term Bd C Grades
Year to date, the fund has returned 0.2%, 0.7 percentage points worse than the category, which translates into a grade of F. The fund has returned 2.0% over the past year (grade of F), 3.8% over the past three years (grade of F) and 1.3% per year over the past five years (grade of F) and 1.1% per year over the past 10 years (grade of F).
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FANCX Trailing NAV Total Returns Data as of 6/30/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| FANCX Return (NAV) | 0.1% | 0.2% | 2.0% | 3.8% | 1.3% | 1.1% |
| FANCX Grade | D | F | F | F | F | F |
| +/- Category | -0.0% | -0.5% | -1.5% | -1.4% | -1.0% | -1.2% |
| Short-Term Bond Avg | 0.1% | 0.8% | 3.5% | 5.2% | 2.3% | 2.3% |
| FANCX Tax Cost Ratio | na | na | 1.0% | 0.9% | 0.6% | na |
FANCX Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| FANCX Return (NAV) | 0.2% | 4.4% | 3.7% | 4.1% | -4.6% | -1.8% | 2.7% | 3.0% | 0.2% | -0.0% | 0.5% |
| FANCX Grade | F | F | F | F | C | F | F | F | D | F | F |
| +/- Category | -0.7% | -1.5% | -1.2% | -1.5% | 0.4% | -1.8% | -1.5% | -1.8% | -0.5% | -1.9% | -2.1% |
| Short-Term Bond Avg | 0.9% | 5.9% | 4.9% | 5.6% | -5.0% | -0.0% | 4.2% | 4.8% | 0.7% | 1.8% | 2.5% |
| Risk Measures | |
| Standard Deviation: | 1.5% |
| Total Risk Index: | 0.13 - Low |
| Category Risk Index: | 0.78 - Low |
| Category Risk Grade: | A (12% Rank) |
| Beta: | 0.24 |
| R-Squared: | 79% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | na |
| Bond Investment Style: | High Quality Limited Sensitivity |
| Yield: | 3.1% |
| Dividend Distribution: | Monthly |
| Cap Gains Distribution: | |
| Total Assets: | $2609 Mil |
| Fund Total Assets: | $ 15 Mil |
| Share Class Type: | C |
| Portfolio Turnover: | 59% |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 19.0 years | |||
| Average Tenure: 9.1 years | |||
| Managers (Year): Galusza Robert (2007), DeBiase David (2019), Mistovich John (2024) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 479 |
| % in Top 10 Holdings: | 43.2% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 19.4% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 80.4% |
| Foreign Bond: | 19.4% |
| Convertible Bond: | 0.0% |
| Other: | -0.1% |
| Cash: | 0.2% |
Purchase Information
| Fund Family: | Fidelity Investments |
| Phone Number: | 877-208-0098 |
| Website: | www.institutional.fidelity.com |
| Status: | Open |
| Inception Date: | July 12, 2016 |
| Min. Initial Purchase: | $ 0 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | No |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 1.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | 1.00% |
Expenses and Fees | |
| Expense Ratio (%): | 1.36% ( Rating : High ) |
| Category Average Expense Ratio (%): | 0.66% |
| Share Class: | Fidelity Short-Term Bond |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
