Fund Evaluator:
Fidelity Intermediate Bond (FTHRX)
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Fund Details
Fidelity Intermediate Bond Overview
Fidelity Intermediate Bond (FTHRX) is an actively managed Taxable Bond Intermediate Core Bond fund. Fidelity Investments launched the fund in 1975.
The investment seeks a high level of current income. Normally investing at least 80% of assets in investment-grade debt securities of all types and repurchase agreements for those securities. Managing the fund to have similar overall interest rate risk to the Bloomberg U.S. Intermediate Government/Credit Bond Index. Normally maintaining a dollar-weighted average maturity between three and 10 years. Allocating assets across different market sectors and maturities. Investing in domestic and foreign issuers.
About Fidelity Intermediate Bond (FTHRX)
There are 3 members of the management team with an average tenure of 9.20 years: Robert Galusza (2009), David DeBiase (2017), John Mistovich (2024). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: Bloomberg US Govt/Credit Interm TR USD index with a weighting of 100% and Bloomberg US Agg Bond TR USD index with a weighting of 100%. Fidelity Intermediate Bond has 684 securities in its portfolio. The top 10 holdings constitute 29.1% 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 Intermediate Bond is part of the Fixed Income global asset class and is within the Taxable Bond fund group. Fidelity Intermediate Bond has 17.1% 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 97.8% (80.7% domestic bond, 17.1% foreign bond and 0.0% convertible bond). Fidelity Intermediate Bond has 2.2% of the portfolio in cash.
Assets Under Management
The fund has $4 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.
FTHRX 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 Intermediate Bond expense ratio is average compared to funds in the Intermediate Core Bond category. Fidelity Intermediate Bond has an expense ratio of 0.45%, which is 21% lower than its category average, making the fund expense ratio grade a C. 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 Intermediate Bond has a portfolio turnover rate of 33%, 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 July 2026, Fidelity Intermediate Bond returned -0.5%, which earned it a grade of A, as the Intermediate Core Bond category had an average return of -1.3%. 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 Intermediate Bond has a trailing yield of 3.75%, which is below the 4.04% category average. The fund normally distributes its income monthly 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 Intermediate Bond Grades
Year to date, the fund has returned -0.1%, 0.6 percentage points better than the category, which translates into a grade of A. The fund has returned 2.6% over the past year (grade of B), 4.4% over the past three years (grade of A) and 0.9% per year over the past five years (grade of A) and 2.0% per year over the past 10 years (grade of A).
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FTHRX 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 |
|
| FTHRX Return (NAV) | -0.5% | -0.2% | 2.6% | 4.4% | 0.9% | 2.0% |
| FTHRX Grade | A | A | B | A | A | A |
| +/- Category | 0.9% | 0.6% | 0.1% | 0.7% | 1.4% | 0.6% |
| Intermediate Core Bond Avg | -1.3% | -0.8% | 2.5% | 3.7% | -0.5% | 1.4% |
| FTHRX Tax Cost Ratio | na | na | 1.1% | 1.1% | 0.9% | 0.9% |
FTHRX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| FTHRX Return (NAV) | -0.1% | 6.9% | 3.2% | 5.6% | -8.7% | -1.3% | 7.2% | 7.2% | 0.5% | 2.3% | 2.8% |
| FTHRX Grade | A | D | A | C | A | B | D | F | A | F | B |
| +/- Category | 0.6% | -0.2% | 1.7% | -0.1% | 4.4% | 0.1% | -0.9% | -1.3% | 0.9% | -1.3% | -0.0% |
| Intermediate Core Bond Avg | -0.7% | 7.0% | 1.6% | 5.6% | -13.2% | -1.5% | 8.1% | 8.5% | -0.4% | 3.6% | 2.8% |
| Risk Measures | |
| Standard Deviation: | 3.4% |
| Total Risk Index: | 0.28 - Low |
| Category Risk Index: | 0.61 - Low |
| Category Risk Grade: | A (1% Rank) |
| Beta: | 0.59 |
| R-Squared: | 95% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | na |
| Bond Investment Style: | High Quality Limited Sensitivity |
| Yield: | 3.8% |
| Dividend Distribution: | Monthly |
| Cap Gains Distribution: | Semi-Annually |
| Total Assets: | $4877 Mil |
| Fund Total Assets: | $4,877 Mil |
| Share Class Type: | No Load |
| Portfolio Turnover: | 33% |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 17.1 years | |||
| Average Tenure: 9.2 years | |||
| Managers (Year): Galusza Robert (2009), DeBiase David (2017), Mistovich John (2024) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 684 |
| % in Top 10 Holdings: | 29.1% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 17.1% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 80.7% |
| Foreign Bond: | 17.1% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 2.2% |
Purchase Information
| Fund Family: | Fidelity Investments |
| Phone Number: | 800-544-6666 |
| Website: | www.institutional.fidelity.com |
| Status: | Open |
| Inception Date: | May 23, 1975 |
| 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 (%): | 0.45% ( Rating : Avg ) |
| Category Average Expense Ratio (%): | 0.57% |
| Share Class: | Fidelity Intermediate Bond |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
