Fund Evaluator:

Fidelity Advisor Asset Manager 60% Z Overview

Fidelity Advisor Asset Manager 60% Z (FIQAX) is an actively managed Allocation Global Moderate Allocation fund. Fidelity Investments launched the fund in 2018.

The investment seeks high total return over the long term. The fund allocates its assets among three main asset classes: the stock class (equity securities of all types, including funds that invest in such securities), the bond class (fixed-income securities of all types maturing in more than one year, including lower-quality debt securities which are sometimes referred to as high yield debt securities or junk bonds, and funds that invest in such securities), and the short-term/money market class (fixed-income securities of all types maturing in one year or less, including funds that invest in such securities).

About Fidelity Advisor Asset Manager 60% Z (FIQAX)

There are 2 members of the management team with an average tenure of 5.42 years: Katherine Shaw (2023), Avishek Hazrachoudhury (2018). Management tenure is more important for actively managed funds than passive index funds.

The fund has 5 primary benchmarks: S&P 500 (TR) (1970) index with a weighting of 100%, DJ US Total Stock Market TR USD index with a weighting of 36%, Bloomberg US Trsy Bellwethers 3M TR USD index with a weighting of 5%, Bloomberg US Agg Bond TR USD index with a weighting of 35% and MSCI ACWI Ex USA NR USD index with a weighting of 24%. Fidelity Advisor Asset Manager 60% Z has 6939 securities in its portfolio. The top 10 holdings constitute 20.7% 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 Advisor Asset Manager 60% Z is part of the Allocation global asset class and is within the Allocation fund group. Fidelity Advisor Asset Manager 60% Z has 29.2% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 37.6%. There is 27.1% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 33.1% (31.0% domestic bond, 2.1% foreign bond and 0.0% convertible bond). Fidelity Advisor Asset Manager 60% Z has 0.6% of the portfolio in cash.

Assets Under Management

The fund has $2 billion in total assets, which is above the $948 million average for the Global Moderate 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.

FIQAX 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 Asset Manager 60% Z expense ratio is average compared to funds in the Global Moderate Allocation category. Fidelity Advisor Asset Manager 60% Z has an expense ratio of 0.55%, which is 47% 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 Advisor Asset Manager 60% Z has a portfolio turnover rate of 29%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 66% for the Global Moderate Allocation category.

Recently, in the month of June 2026, Fidelity Advisor Asset Manager 60% Z returned 0.7%, which earned it a grade of A, as the Global Moderate Allocation category had an average return of -0.2%. 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 Asset Manager 60% Z has a trailing yield of 1.94%, which is below the 2.64% 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 Asset Manager 60% Z Grades

Year to date, the fund has returned 10.4%, 2.5 percentage points better than the category, which translates into a grade of A. The fund has returned 19.5% over the past year (grade of A), 14.2% over the past three years (grade of A) and 7.1% per year over the past five years (grade of B) and 9.2% per year over the past 10 years (grade of A).

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 Advisor Asset Manager 60% Z, including its riskiness, submit your email to unlock the rest of the article.