Fidelity American High Yield Currency Neutral Fund

Investment Strategy

Fidelity American High Yield Currency Neutral Fund aims to hedge foreign currency exposure back to Canadian dollars, thus providing the benefit of the U.S market while reducing currency risk.

Currency Neutral Funds use derivatives to mitigate the Fund's exposure to changes in exchange rates between the U.S. dollar 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

Performance for this series is not available at this time.

Performance

Annual compound performance – as at 30-Apr-2015

PERIOD Fund
1 month 1.04% 2
3 month 2.78% 2
6 month 2.00% 3
1 year 3.44% 3
2 year 3.64% 3
3 year 6.09% 2
5 year 6.71% 2
7 year 6.94%
10 year
YTD 3.89% 2
Since Inception 5.99%

Calendar year performance – as at 30-Apr-2015

Calendar year performance – as at 30-Apr-2015

Growth of $10,000 since inception³ – as at 30-Apr-2015

Growth of $10,000 since inception³ – as at 30-Apr-2015
Fund risk measures – as at 30-Apr-2015
  Fund
Annual Standard Deviation 4.34
Beta 0.97
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

$9.34 – as at 25-May-2015

Series inception date

06-Nov-2006

Fund benchmark

Bank of America/Merrill Lynch U.S. High Yield Master II Constrained Index – Hedged CAD

Fund aggregate assets (all series)

$535.8 million
as at 30-Apr-2015

Management expense ratio - Series B

1.98% – as at 31-Dec-2014

 
Quarterly Top Ten Holdings
GMAC 8%, 11/01/31  
ILFC 8.625%, 1/15/22  
HCA INC 5.875% 3/15/22  
HILTON WRLDWID 5.625% 10/21  
ALTICE SA 7.75% 05/15/22 144A  
ROYAL BK SCTLND 5.125% 5/28/24  
ENERGY FIN INC STEP 3/22 144A  
CITIGROUP 5.35% PERP  
ILFC 5.875% 8/15/22  
ENERGY FUT TRM 1LN DIP 06/16  
Total number of holdings 687
Top 10 holdings aggregate 9.5%
Aggregate of top issuers 11.4%
Allocation to funds

Asset mix

Asset mix

Sector mix

Sector mix
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