Fund Evaluator:
Fidelity Advisor Equity-Income M (FINQX)
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Best Performing in Large Value Over the Last Year
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Fund Details
Fidelity Advisor Equity-Income M Overview
Fidelity Advisor Equity-Income M (FINQX) is an actively managed U.S. Equity Large Value fund. Fidelity Investments launched the fund in 2026.
The investment seeks reasonable income; the potential for capital appreciation is a secondary consideration. The fund normally invests at least 80% of assets in equity securities. It primarily invests income-producing equity securities, which tends to lead to investments in large cap "value" stocks. The fund invests in domestic and foreign issuers. It potentially invests in other types of equity securities and debt securities, including lower-quality debt securities.
About Fidelity Advisor Equity-Income M (FINQX)
There are 1 members of the management team with an average tenure of 14.76 years: Ramona Persaud (2011). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: Russell 3000 TR USD index with a weighting of 100% and Russell 3000 Value TR USD index with a weighting of 100%. Fidelity Advisor Equity-Income M has 120 securities in its portfolio. The top 10 holdings constitute 26.6% 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 Equity-Income M is part of the Equity global asset class and is within the U.S. Equity fund group. Fidelity Advisor Equity-Income M has 13.8% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 85.2%. There is 13.8% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Fidelity Advisor Equity-Income M has 1.0% of the portfolio in cash.
Assets Under Management
The fund has $531 million in total assets, which is below the $1 billion average for the Large Value 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.
FINQX 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 Equity-Income M expense ratio is high compared to funds in the Large Value category. Fidelity Advisor Equity-Income M has an expense ratio of 1.06%, which is 15% higher than its category average, making the fund expense ratio grade a D. 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 Equity-Income M has a portfolio turnover rate of 11%, indicating that holds its assets around 0.1 years. By way of comparison, the average portfolio turnover is 62% for the Large Value category.
Recently, in the month of July 2026, Fidelity Advisor Equity-Income M returned 2.9%, which earned it a grade of C, as the Large Value category had an average return of 2.9%. 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 Equity-Income M has a trailing yield of 0.00%, which is below the 1.20% category average. The fund normally distributes its income annually and its capital gains annually.
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 Equity-Income M Grades
Year to date, the fund has returned 13.2%, 1.0 percentage points worse than the category, which translates into a grade of C. The fund has returned 22.5% over the past year (grade of C), 16.6% over the past three years (grade of B) and 11.1% per year over the past five years (grade of C) and 11.4% per year over the past 10 years (grade of C).
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FINQX 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 |
|
| FINQX Return (NAV) | 2.9% | 4.4% | 22.5% | 16.6% | 11.1% | 11.4% |
| FINQX Grade | C | D | C | B | C | C |
| +/- Category | -0.0% | -1.8% | -1.3% | 1.0% | 0.2% | 0.1% |
| Large Value Avg | 2.9% | 6.2% | 23.8% | 15.7% | 10.9% | 11.3% |
| FINQX Tax Cost Ratio | na | na | na | na | na | na |
FINQX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| FINQX Return (NAV) | 13.2% | 18.4% | 14.7% | 10.0% | -5.6% | 23.7% | 6.2% | 27.2% | -8.9% | 12.8% | 16.8% |
| FINQX Grade | C | A | C | C | C | D | B | B | C | F | B |
| +/- Category | -1.0% | 3.2% | 0.6% | -1.8% | 0.5% | -2.1% | 2.4% | 1.6% | -0.4% | -3.7% | 2.2% |
| Large Value Avg | 14.3% | 15.2% | 14.1% | 11.8% | -6.0% | 25.8% | 3.8% | 25.6% | -8.5% | 16.4% | 14.6% |
| Risk Measures | |
| Standard Deviation: | 10.5% |
| Total Risk Index: | 0.86 - Average |
| Category Risk Index: | 0.87 - Low |
| Category Risk Grade: | A (7% Rank) |
| Beta: | 0.60 |
| R-Squared: | 56% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Value |
| Bond Investment Style: | na |
| Yield: | -- |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $11884 Mil |
| Fund Total Assets: | $ 1 Mil |
| Share Class Type: | M |
| Portfolio Turnover: | 11% |
Management Team
| Number of Managers: 1 | |||
| Longest Tenure: 14.8 years | |||
| Average Tenure: 14.8 years | |||
| Managers (Year): Persaud Ramona (2011) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 120 |
| % in Top 10 Holdings: | 26.6% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 13.8% |
Portfolio Allocation |
|
| Domestic Stock: | 85.2% |
| Foreign Stock: | 13.8% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 1.0% |
Purchase Information
| Fund Family: | Fidelity Investments |
| Phone Number: | 877-208-0098 |
| Website: | www.institutional.fidelity.com |
| Status: | Open |
| Inception Date: | February 19, 2026 |
| Min. Initial Purchase: | $ 0 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | No |
| Front Load Maximum: | 3.50% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | 0.50% |
Expenses and Fees | |
| Expense Ratio (%): | 1.06% ( Rating : High ) |
| Category Average Expense Ratio (%): | 0.93% |
| Share Class: | Fidelity Equity-Income |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
