FANCX

About FANCX

Fidelity Advisor Short-Term Bond Fund Class C is an actively managed mutual fund focused on generating a high level of current income while emphasizing preservation of capital. The portfolio primarily holds U.S. dollar‑denominated, investment‑grade debt and repurchase agreements, and normally maintains a dollar‑weighted average maturity of three years or less, aligning it with the short‑term bond category. The fund invests at least 80% of assets in medium‑ to high‑quality fixed income, with flexibility to use derivatives for portfolio positioning, which can create a leveraging effect. It targets the Bloomberg U.S. 1–3 Year Government/Credit Bond benchmark and sits in Morningstar’s Short‑Term Bond category. Class C shares typically carry higher ongoing expenses relative to other share classes within the same strategy, reflecting their distribution structure. The fund’s design aims to offer stability and income through diversified exposure to government, corporate, and securitized bonds within a constrained interest‑rate risk profile, supported by Fidelity’s fixed‑income research platform and a long operating history for the underlying strategy.