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 31-Jul-2015

PERIOD Fund
1 month -0.27% 3
3 month -1.54% 4
6 month 1.19% 3
1 year 1.48% 3
2 year 3.94% 3
3 year 5.00% 3
5 year 6.40% 2
7 year 6.98%
10 year
YTD 2.29% 3
Since Inception 5.62%

Calendar year performance – as at 31-Jul-2015

Calendar year performance – as at 31-Jul-2015

Growth of $10,000 since inception³ – as at 31-Jul-2015

Growth of $10,000 since inception³ – as at 31-Jul-2015
Fund risk measures – as at 31-Jul-2015
  Fund
Annual Standard Deviation 4.30
Beta 0.98
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

$8.93 – as at 27-Aug-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)

$737.5 million
as at 31-Jul-2015

Management expense ratio - Series B

1.98% – as at 31-Dec-2014

 
Quarterly Top Five Issuers
International Lease Finance Corp.  
HCA  
GMAC  
Ally Financial  
SLM CORP  
Total Number of Issuers 2
Aggregate of top issuers 11.0%
Allocation to funds

Asset Mix
as at 30-Jun-2015

  Current monthLast monthTwo months ago
Canadian Bonds 4.2%4.4%4.0%
Cash & Other 6.3%3.2%11.4%
Foreign Bonds 87.2%90.3%82.6%
Foreign Equities 2.3%2.2%2.0%

Top historical sector mix (%)
as at 30-Jun-2015

Energy 12.3%13.1%11.4%
Health Care 11.7%11.6%10.9%
Telecommunications 11.4%12.3%11.2%
Diversified Financial Services 8.0%8.1%7.6%
Banks & Thrifts 7.8%8.0%7.3%
Electric Utilities 4.8%4.7%4.4%
Services 3.8%3.6%3.5%
Cable TV 3.7%3.7%
Technology 3.6%4.0%3.6%
Automotive 3.5%3.6%3.4%
Homebuilding/Real Estate 3.2%
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