Fund Evaluator:

Fidelity Advisor Sust Trgt Dt 2050 Z Overview

Fidelity Advisor Sust Trgt Dt 2050 Z (FSZCX) is an actively managed Allocation Target-Date 2050 fund. Fidelity Investments launched the fund in 2023.

The investment seeks high current income and, as a secondary objective, capital appreciation. Investing at least 80% of assets in underlying funds that are (i) fidelity funds that invest in securities of issuers that the adviser believes have proven or improving sustainability practices or positive environmental, social and governance (ESG) characteristics, (ii) fidelity index funds that track an ESG index, and (iii) fidelity funds that do not have a principal ESG investment strategy but invest at least 80% of assets in U.S. and international sovereign or government-related debt securities that the fund adviser believes have positive ESG characteristics.

About Fidelity Advisor Sust Trgt Dt 2050 Z (FSZCX)

There are 4 members of the management team with an average tenure of 2.30 years: Andrew Dierdorf (2024), Brett Sumsion (2024), Finola McGuire Foley (2023), Cait Dourney Earle (2025). Management tenure is more important for actively managed funds than passive index funds.

The fund has 1 primary benchmark: S&P 500 (TR) index with a weighting of 100%. Fidelity Advisor Sust Trgt Dt 2050 Z has 6 securities in its portfolio. The top 10 holdings constitute 100.0% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is considered to have an ESG focus with its investment selection and management.

Fidelity Advisor Sust Trgt Dt 2050 Z is part of the Allocation global asset class and is within the Allocation fund group. Fidelity Advisor Sust Trgt Dt 2050 Z has 41.8% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 52.1%. There is 41.8% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 4.3% (4.3% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Fidelity Advisor Sust Trgt Dt 2050 Z has 1.7% of the portfolio in cash.

Assets Under Management

The fund has $271 million in total assets, which is below the $1 billion average for the Target-Date 2050 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.

FSZCX 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 Sust Trgt Dt 2050 Z expense ratio is below average compared to funds in the Target-Date 2050 category. Fidelity Advisor Sust Trgt Dt 2050 Z has an expense ratio of 0.39%, which is 43% lower than its category average, making the fund expense ratio grade a B. 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 Sust Trgt Dt 2050 Z has a portfolio turnover rate of 27%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 22% for the Target-Date 2050 category.

Recently, in the month of June 2026, Fidelity Advisor Sust Trgt Dt 2050 Z returned 0.9%, which earned it a grade of A, as the Target-Date 2050 category had an average return of 0.4%. 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 Sust Trgt Dt 2050 Z has a trailing yield of 1.21%, which is below the 1.58% category average. The fund normally distributes its income semi-annually and its capital gains semi-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 Sust Trgt Dt 2050 Z Grades

Year to date, the fund has returned 13.6%, 2.4 percentage points better than the category, which translates into a grade of A. The fund has returned 25.0% over the past year (grade of A) and 18.5% over the past three years (grade of B).

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