Fund Evaluator:
Fidelity Health Savings (FHLSX)
Follow This Fund
Best Performing in Global Moderately Conservative Allocation Over the Last Year
| 13.9% | Victory Cornerstone Moderately Cnsrv (UCMCX) |
| 13.0% | Fidelity Advisor Asset Manager 40% Z (FIKYX) |
| 13.0% | Fidelity Asset Manager 40% (FFANX) |
| 12.9% | Russell Inv Multi-Strategy Income Y (RMYYX) |
| 12.9% | Russell Inv Multi-Strategy Income M (RGYTX) |
Fund Details
Fidelity Health Savings Overview
Fidelity Health Savings (FHLSX) is an actively managed Allocation Global Moderately Conservative Allocation fund. Fidelity Investments launched the fund in 2020.
The investment seeks total return. The fund is designed to assist investors in saving for future eligible medical expenses. Investing primarily in a combination of both actively and passively managed Fidelity bond and equity funds and affiliated and unaffiliated exchange-traded funds (collectively, underlying funds). Investing approximately 30% of the fund's assets in underlying equity funds and 70% of the fund's assets in underlying bond funds.
About Fidelity Health Savings (FHLSX)
There are 2 members of the management team with an average tenure of 4.84 years: Avishek Hazrachoudhury (2020), Hongshu Chen (2023). Management tenure is more important for actively managed funds than passive index funds.
The fund has 5 primary benchmarks: Bloomberg US Agg Bond TR USD index with a weighting of 100%, DJ US Total Stock Market TR USD index with a weighting of 21%, Bloomberg US Trsy Bellwethers 3M TR USD index with a weighting of 20%, Bloomberg US Agg Bond TR USD index with a weighting of 50% and MSCI ACWI Ex USA NR USD index with a weighting of 9%. Fidelity Health Savings has 4817 securities in its portfolio. The top 10 holdings constitute 49.2% 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 Health Savings is part of the Allocation global asset class and is within the Allocation fund group. Fidelity Health Savings has 33.5% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 17.5%. There is 17.1% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 48.9% (32.4% domestic bond, 16.5% foreign bond and 0.0% convertible bond). Fidelity Health Savings has 8.9% of the portfolio in cash.
Assets Under Management
The fund has $25 million in total assets, which is below the $304 million average for the Global Moderately Conservative Allocation 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.
FHLSX 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 Health Savings expense ratio is average compared to funds in the Global Moderately Conservative Allocation category. Fidelity Health Savings has an expense ratio of 0.49%, which is 50% 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 Health Savings has a portfolio turnover rate of 54%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 50% for the Global Moderately Conservative Allocation category.
Recently, in the month of July 2026, Fidelity Health Savings returned -0.8%, which earned it a grade of D, as the Global Moderately Conservative Allocation category had an average return of -0.5%. 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 Health Savings has a trailing yield of 2.78%, which is below the 3.07% 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 Health Savings Grades
Year to date, the fund has returned 6.1%, 1.0 percentage points better than the category, which translates into a grade of A. The fund has returned 11.7% over the past year (grade of A), 9.4% over the past three years (grade of B) and 3.7% per year over the past five years (grade of D).
For more mutual fund grades, analysis and screening tools to help your investment discovery, join AAII for a $2, full-access trial. Learn more here: https://invest.aaii.com/membership.
Otherwise, for more information about Fidelity Health Savings, including its riskiness, submit your email to unlock the rest of the article.
Gain access to exclusive AAII member-only content.
FHLSX Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| FHLSX Return (NAV) | -0.8% | 1.2% | 11.7% | 9.4% | 3.7% | na |
| FHLSX Grade | D | D | A | B | D | na |
| +/- Category | -0.3% | -0.3% | 0.9% | 0.3% | -0.2% | na |
| Global Moderately Conservative Allocation Avg | -0.5% | 1.5% | 10.9% | 9.1% | 3.9% | 5.4% |
| FHLSX Tax Cost Ratio | na | na | 1.1% | 1.1% | 1.1% | na |
FHLSX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| FHLSX Return (NAV) | 6.1% | 12.2% | 6.9% | 9.7% | -14.9% | 5.4% | na | na | na | na | na |
| FHLSX Grade | A | B | C | D | F | F | na | na | na | na | na |
| +/- Category | 1.0% | 0.6% | -0.4% | -0.7% | -1.4% | -2.2% | na | na | na | na | na |
| Global Moderately Conservative Allocation Avg | 5.1% | 11.6% | 7.3% | 10.4% | -13.5% | 7.5% | 8.9% | 15.0% | -4.8% | 10.7% | 6.1% |
| Risk Measures | |
| Standard Deviation: | 6.8% |
| Total Risk Index: | 0.56 - Below Average |
| Category Risk Index: | 0.92 - Below Average |
| Category Risk Grade: | B (28% Rank) |
| Beta: | 0.72 |
| R-Squared: | 98% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Blend |
| Bond Investment Style: | High Quality Limited Sensitivity |
| Yield: | 2.8% |
| Dividend Distribution: | Monthly |
| Cap Gains Distribution: | |
| Total Assets: | $72 Mil |
| Fund Total Assets: | $ 25 Mil |
| Share Class Type: | Other |
| Portfolio Turnover: | 54% |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 6.4 years | |||
| Average Tenure: 4.8 years | |||
| Managers (Year): Hazrachoudhury Avishek (2020), Chen Hongshu (2023) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 4817 |
| % in Top 10 Holdings: | 49.2% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 33.5% |
Portfolio Allocation |
|
| Domestic Stock: | 17.5% |
| Foreign Stock: | 17.1% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 32.4% |
| Foreign Bond: | 16.5% |
| Convertible Bond: | 0.0% |
| Other: | 7.7% |
| Cash: | 8.9% |
Purchase Information
| Fund Family: | Fidelity Investments |
| Phone Number: | 800-544-5555 |
| Website: | www.institutional.fidelity.com |
| Status: | Open |
| Inception Date: | March 2, 2020 |
| 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 (%): | 0.49% ( Rating : Avg ) |
| Category Average Expense Ratio (%): | 0.98% |
| Share Class: | Fidelity Health Savings K |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
