Fidelity U.S. Monthly Income Currency Neutral Fund

Investment Strategy

Fidelity U.S. Monthly Income Currency Neutral Fund is a multi-asset class investment solution that invests primarily in high-quality U.S. dividend-paying equities and high-yielding fixed-income securities. It aims to deliver income and the potential for capital appreciation.

Currency Neutral Funds use derivatives to mitigate the Fund's exposure to changes in exchange rates between developed market currencies and the Canadian dollar. The investment approach used by the Funds, while effective in reducing exchange rate risk, will not completely eliminate the impact of currency fluctuations. The Fund's returns will differ from the local currency returns of its underlying fund.


Performance for this series is not available at this time.


Annual compound performance – as at 30-Sep-2017

1 month 0.89% 2
3 month 1.65% 1
6 month 2.48% 1
1 year 5.09% 2
2 year 7.04% 1
3 year 3.70% 4
5 year
7 year
10 year
YTD 4.14% 2
Since Inception 3.44%

Calendar year performance – as at 30-Sep-2017

Calendar year performance – as at 30-Sep-2017

Growth of $10,000 since inception³ – as at 31-Aug-2017

Growth of $10,000 since inception³ – as at 31-Aug-2017
Fund risk measures – as at 30-Sep-2017
Annual Standard Deviation 5.31
Beta 0.96

Risk measures are based on 3-year net returns (series B). (All returns are calculated in Canadian currency.) 

Volatility meter

Low to Medium

A fund’s volatility is determined using a statistical measure called “standard deviation". Standard deviation measures the amount of variability of returns that has historically occurred relative to the average return. The higher the standard deviation of a fund, the greater the range of returns it has experienced in the past. Other types of risk, both measurable and non-measurable, exist. In addition, just as historical performance may not be indicative of future returns, a fund’s historical volatility may not be indicative of its future volatility.

Fund facts

NAVPU – Series B

$19.29 – as at 18-Oct-2017

Series inception date


Fund benchmark

Blended index**

Fund aggregate assets (all series)

$261.7 million
as at 30-Sep-2017

Management expense ratio - Series B

2.31% – as at 30-Sep-2016

Quarterly Top Ten Holdings
J. P. Morgan Chase  
Cisco Systems  
Johnson & Johnson  
Procter & Gamble  
Bank of America  
Comcast, Cl. A  
US Bancorp  
Total number of holdings 2,470
Top 10 holdings aggregate 10.7%
Allocation to funds

Asset Mix
as at 31-Aug-2017

  Current monthLast monthTwo months ago
Foreign Equities 47.1%47.5%47.3%
Foreign Bonds 31.9%31.7%31.8%
High Yield Bonds 9.5%9.6%9.8%
Convertibles 4.3%4.3%4.3%
Investment Grade CMBS 1.3%1.3%1.4%
Other Investments 0.7%0.7%0.7%
Cash & Other 5.2%4.9%4.8%

Top historical sector mix (%)
as at 31-Aug-2017

Financials 12.0%12.3%12.2%
Information Technology 7.9%7.8%7.8%
Real Estate 7.3%7.2%7.1%
Consumer Discretionary 5.1%5.1%5.0%
Health Care 5.0%5.1%5.2%
Energy 3.9%4.1%4.0%
Industrials 3.9%3.9%3.9%
Consumer Staples 3.7%3.8%3.8%
Utilities 2.5%2.5%2.4%
Telecommunication Services 1.4%1.4%1.4%