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Morningstar

Fidelity® Total Bond Fund FTBFX

Morningstar Medalist Rating
Medalist Rating as of | See Fidelity Investment Hub
  • NAV / 1-Day Return 9.42  /  0.20 %
  • Total Assets 30.7 Bil
  • Adj. Expense Ratio
    0.450%
  • Expense Ratio 0.450%
  • Distribution Fee Level Below Average
  • Share Class Type No Load
  • Category Intermediate Core-Plus Bond
  • Credit Quality / Interest Rate Sensitivity Medium / Moderate
  • Min. Initial Investment 0
  • Status Open
  • TTM Yield 3.87%
  • Effective Duration 5.88 years

USD | NAV as of Jun 09, 2023 | 1-Day Return as of Jun 09, 2023, 10:14 PM GMT+0

Morningstar’s Analysis FTBFX

Will FTBFX outperform in future?

Get our overall rating based on a fundamental assessment of the pillars below.

Process Pillar

The Process Pillar is our assessment of how sensible, clearly defined, and repeatable FTBFX’s performance objective and investment process is for both security selection and portfolio construction.

People Pillar

The People Pillar is our evaluation of the FTBFX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.

Parent Pillar

The Parent Pillar is our rating of FTBFX’s parent organization’s priorities and whether they’re in line with investors’ interests.

Manager Roster Changes on Fidelity Total Bond; Ratings Unchanged

null Mike Mulach

Mike Mulach

Analyst Note

On Oct. 3, 2022, Fidelity announced the appointment of Celso Munoz as co-lead portfolio manager alongside Ford O'Neil on Fidelity Total Bond. This move, which was implemented on Oct. 1, is sensible succession planning, in our view, and supports the strategy's High People rating. After working closely with O'Neil for five years as comanager on these funds, Munoz has long been the heir apparent to O'Neil. This does not indicate an imminent retirement for O'Neil, but the firm is effectively communicating a clear future succession plan to investors. In addition, Franco Castagliuolo, a senior securitized portfolio manager, has been named comanager on Fidelity Total Bond and Fidelity Total Bond ETF FBND. These appointments are more a recognition of the solid work Munoz and Castagliuolo have been contributing rather than a significant shift in responsibilities. As a result, both funds retain their Morningstar Analyst Ratings.

by Mike Mulach
Published on

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Portfolio Holdings FTBFX

More FTBFX Holdings
  • Current Portfolio Date
  • Equity Holdings 21
  • Bond Holdings 6293
  • Other Holdings 65
  • % Assets in Top 10 Holdings 18.1
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

Fidelity Revere Str Tr

5.59
1,626,483,099
Cash and Equivalents

United States Treasury Bonds 2%

2.97
864,837,266
Government

United States Treasury Notes 3.875%

2.55
740,859,375
Government

United States Treasury Notes 1.25%

2.52
732,064,968
Government

United States Treasury Notes 2.75%

2.41
700,110,996
Government

United States Treasury Notes 2.875%

1.67
486,310,517
Government

United States Treasury Notes 2.75%

1.42
412,532,579
Government

United States Treasury Notes 3.5%

1.25
362,167,969
Government

United States Treasury Bonds 3%

1.13
329,778,755
Government

United States Treasury Notes 4%

1.13
328,749,386
Government