Fund Evaluator:
Fidelity® SAI Enhanced Core Bond (FECBX)
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Fund Details
Fidelity® SAI Enhanced Core Bond Overview
Fidelity® SAI Enhanced Core Bond (FECBX) is an actively managed Taxable Bond Intermediate Core Bond fund. Fidelity Investments launched the fund in 2025.
The investment seeks a high level of current income. Normally investing 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. Generally utilizing a research-driven approach identifying long-term drivers of debt security returns that may include, but are not limited to, valuation, quality, momentum, and other factors.
About Fidelity® SAI Enhanced Core Bond (FECBX)
There are 3 members of the management team with an average tenure of 1.45 years: Orhan Imer (2025), Rahul Bhargava (2025), Leo Landes (2025). Management tenure is more important for actively managed funds than passive index funds.
Fidelity® SAI Enhanced Core Bond has 791 securities in its portfolio. The top 10 holdings constitute 24.7% 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® SAI Enhanced Core Bond is part of the Fixed Income global asset class and is within the Taxable Bond fund group. Fidelity® SAI Enhanced Core Bond has 9.3% 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 106.2% (96.9% domestic bond, 9.3% foreign bond and 0.0% convertible bond). Fidelity® SAI Enhanced Core Bond has -6.2% of the portfolio in cash.
Assets Under Management
The fund has $3 billion in total assets, which is above the $3 billion average for the Intermediate Core 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.
FECBX 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® SAI Enhanced Core Bond expense ratio is low compared to funds in the Intermediate Core Bond category. Fidelity® SAI Enhanced Core Bond has an expense ratio of 0.15%, which is 73% lower than its category average, making the fund expense ratio grade a A. 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® SAI Enhanced Core Bond has a portfolio turnover rate of 180%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 151% for the Intermediate Core Bond category.
Recently, in the month of August 2026, Fidelity® SAI Enhanced Core Bond returned 0.3%, which earned it a grade of C, as the Intermediate Core Bond category had an average return of 0.3%. 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® SAI Enhanced Core Bond has a trailing yield of 4.16%, which is above the 4.04% 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® SAI Enhanced Core Bond Grades
Year to date, the fund has returned -0.1%, 0.3 percentage points better than the category, which translates into a grade of A. The fund has returned 1.9% over the past year (grade of B).
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FECBX Trailing NAV Total Returns Data as of 8/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| FECBX Return (NAV) | 0.3% | -0.7% | 1.9% | na | na | na |
| FECBX Grade | C | B | B | na | na | na |
| +/- Category | 0.0% | 0.1% | 0.3% | na | na | na |
| Intermediate Core Bond Avg | 0.3% | -0.8% | 1.6% | 4.0% | -0.4% | 1.4% |
| FECBX Tax Cost Ratio | na | na | 1.3% | na | na | na |
FECBX Annual NAV Total ReturnsData as of 8/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| FECBX Return (NAV) | -0.1% | na | na | na | na | na | na | na | na | na | na |
| FECBX Grade | A | na | na | na | na | na | na | na | na | na | na |
| +/- Category | 0.3% | na | na | na | na | na | na | na | na | na | na |
| Intermediate Core Bond Avg | -0.4% | 7.0% | 1.6% | 5.6% | -13.2% | -1.5% | 8.1% | 8.5% | -0.4% | 3.6% | 2.8% |
| Risk Measures | |
| Standard Deviation: | na |
| Total Risk Index: | na |
| Category Risk Index: | na |
| Category Risk Grade: | |
| Beta: | na |
| R-Squared: | na |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | na |
| Bond Investment Style: | High Quality Moderate Sensitivity |
| Yield: | 4.2% |
| Dividend Distribution: | Monthly |
| Cap Gains Distribution: | |
| Total Assets: | $3894 Mil |
| Fund Total Assets: | $3,894 Mil |
| Share Class Type: | Other |
| Portfolio Turnover: | 180% |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 1.5 years | |||
| Average Tenure: 1.5 years | |||
| Managers (Year): Imer Orhan (2025), Bhargava Rahul (2025), Landes Leo (2025) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 791 |
| % in Top 10 Holdings: | 24.7% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 9.3% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 96.9% |
| Foreign Bond: | 9.3% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | -6.2% |
Purchase Information
| Fund Family: | Fidelity Investments |
| Phone Number: | 800-544-3455 |
| Website: | www.institutional.fidelity.com |
| Status: | Open |
| Inception Date: | March 18, 2025 |
| Min. Initial Purchase: | $ 0 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | na |
Expenses and Fees | |
| Expense Ratio (%): | 0.15% ( Rating : Low ) |
| Category Average Expense Ratio (%): | 0.56% |
| Share Class: | Fidelity® SAI Enhanced Core Bond |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
