Fund Evaluator:

Fidelity Advisor Sustainable Mlt-Ast I Overview

Fidelity Advisor Sustainable Mlt-Ast I (FYMIX) is an actively managed Allocation Global Moderate Allocation fund. Fidelity Investments launched the fund in 2022.

The investment seeks total return. The fund invests at least 80% of assets in Fidelity® Funds (including mutual funds and ETFs) that invest in securities of issuers that the Adviser believes have proven or improving sustainability practices based on an evaluation of such issuer’s individual environmental, social, and governance (ESG) profile and in Fidelity® index funds that track an ESG index. Allocating assets according to a neutral asset allocation strategy in which 70% of the fund’s assets are allocated to underlying Fidelity® U.S. and international equity mutual funds and ETFs and 30% to underlying Fidelity® bond mutual funds and ETFs.

About Fidelity Advisor Sustainable Mlt-Ast I (FYMIX)

There are 2 members of the management team with an average tenure of 4.47 years: Finola McGuire Foley (2022), Bruno Crocco (2022). Management tenure is more important for actively managed funds than passive index funds.

The fund has 1 primary benchmark: S&P 500 (TR) (1970) index with a weighting of 100%. Fidelity Advisor Sustainable Mlt-Ast I has 8 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 Sustainable Mlt-Ast I is part of the Allocation global asset class and is within the Allocation fund group. Fidelity Advisor Sustainable Mlt-Ast I has 35.9% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 41.8%. There is 34.3% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 22.5% (21.0% domestic bond, 1.6% foreign bond and 0.0% convertible bond). Fidelity Advisor Sustainable Mlt-Ast I has 1.3% of the portfolio in cash.

Assets Under Management

The fund has $5 million in total assets, which is below the $947 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.

FYMIX 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 Sustainable Mlt-Ast I expense ratio is average compared to funds in the Global Moderate Allocation category. Fidelity Advisor Sustainable Mlt-Ast I has an expense ratio of 0.48%, which is 54% 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 Sustainable Mlt-Ast I 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 64% for the Global Moderate Allocation category.

Recently, in the month of July 2026, Fidelity Advisor Sustainable Mlt-Ast I returned -1.2%, which earned it a grade of F, as the Global Moderate Allocation category had an average return of 0.3%. 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 Advisor Sustainable Mlt-Ast I has a trailing yield of 1.64%, which is below the 2.61% 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 Sustainable Mlt-Ast I Grades

Year to date, the fund has returned 8.7%, 0.6 percentage points better than the category, which translates into a grade of B. The fund has returned 18.1% over the past year (grade of B) and 14.1% over the past three years (grade of A).

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