Fidelity Advisor Capital and Income Fund
Fidelity Advisor Series I · 5 share classes
Fund classification
Classified from what the fund holds · as of 2026 Q2
Fidelity Advisor Capital and Income Fund is a conservative allocation fund.
- Asset class
- Allocation (multi-asset)
- Region
- United States
- Management
- Actively managed
- Fund type
- Open-end fund
- Equity exposure
- Conservative
- Features
- Fund of funds
Fund profile
As filed in the prospectus · 2025 Q4
Fidelity Advisor Capital & Income Fund seeks a combination of a high level of income and the potential for capital gains.
The fund invests at least 80% of assets in a combination of debt and income-producing equity securities, with an emphasis on lower-quality debt securities and companies in troubled or uncertain financial condition, using fundamental analysis of issuers' financial condition and industry position. The fund may hold defaulted securities and invests across domestic and foreign issuers. Because the fund emphasizes lower-quality debt securities and troubled companies, it carries greater credit risk than funds focused on higher-quality issuers.
| Share class | Gross | Net |
|---|---|---|
| FAHYX | 1.19% | 1.17% |
| FAHCX | 0.94% | 0.93% |
| FAHDX | 1.19% | 1.18% |
| FAHEX | 1.94% | 1.93% |
| FIQTX | 0.84% | 0.82% |
Net is what a holder pays after the adviser's contractual waiver; gross is before it. A waiver can expire.
Portfolio turnover 22.00% · as of 2025 Q4
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| Bonds | 42.90% |
| Stocks | 29.19% |
| Cash & short-term | 20.81% |
| Loans | 7.79% |
| Securitized | 0.23% |
Look-through blends 1 underlying fund; 2.1% of NAV was not looked through and stays direct-classified.
Sector allocation
The same holdings as Allocation above, grouped by market sector instead of asset type · as of 2026 Q2
| Other | 32.1% |
| Cash | 20.3% |
| International | 9.6% |
| Information Technology | 7.8% |
| 11 smaller | 30.2% |
Government, Securitized and Cash are non-corporate buckets; International is foreign holdings we don’t sector-classify, and Other is the residual (held funds, unresolved names).
Latest quarter
What changed since the fund's previous filing
Largest new: ISHARES BROAD USD HIGH YIELD CORPORATE BOND ETF, ARES MANAGEMENT CORP, PROOFPOINT INC, MERIDIAN ARC HOLDCO LLC, TKC HOLDINGS INC, EG AMERICA LLC, PLTR, WELLS FARGO and CO
Largest exited: X CORP ×2, PROOFPOINT INC, X.AI LLC / X.AI CO ISSUER CO, ENERGY TRANSFER LP, BYD CO LTD, TKC HOLDINGS INC, AMZN
Return profile
Total return as filed — price change plus distributions reinvested · trailing figures to Apr 2026
| Share class | 1-year | 3-year | 5-year | Vol | Worst fall |
|---|---|---|---|---|---|
| +18.50% | -43.30% | -79.09% | 5.45% | -52.36% | |
| +18.91% | +40.49% | +38.36% | 5.52% | -3.14% | |
| +18.49% | -43.27% | -79.11% | 5.49% | -52.34% | |
| +17.65% | +9.50% | -16.71% | 5.44% | -7.29% | |
| +18.99% | +41.01% | +39.11% | 5.52% | -3.22% |
These classes hold the same portfolio, so the 118.23pp spread over 5 years is the cost difference between them — roughly 23.65pp a year — not a difference in what they own.
Debt profile
What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-04-30
Share of the fund's debt by how its coupon behaves — the fact that decides whether a rate move reaches this portfolio at all.
| Fixed rate | 80.6% |
| Floating rate | 19.4% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 1.5% |
| 1-3y | 29.2% |
| 3-5y | 38.7% |
| 5-10y | 29.6% |
| 10y+ | 1.0% |
These three overlap — one holding can be in arrears and paying in kind at once — so they are shown separately and never summed.
Risk profile
Interest-rate and credit-spread sensitivity, both in years · as of 2026Q2
More of this fund’s sensitivity sits in credit spreads than in interest rates — a rate rally that comes with a credit selloff works against it.
Where the loss would come from. The two shocks are the same size, so this is the balance of the fund's two sensitivities rather than a bet on one moving more.
| Credit spreads | 57% |
| Interest rates | 43% |
Filers report the impact of a 0.01% move only, so the total is our own scaling of that one number and overstates the loss on most bonds — read it as approximate, never as precise. The two sensitivities overlap rather than add up: they measure the same positions against different shocks, which is why the durations above are shown side by side and never summed.
Share of the fund's spread duration carried by each credit tier.
| High yield | +1.35 yr |
| Investment grade | +0.26 yr |
Share of duration at each point, shortest first. A positive figure loses value when spreads widen; a negative one offsets — a credit hedge.
| 3 mo | 0.03 yr | 3% |
| 1 yr | 0.34 yr | 28% |
| 5 yr | 0.68 yr | 57% |
| 10 yr | 0.12 yr | 10% |
| 30 yr | 0.02 yr | 2% |
| 3 mo | 0.27 yr | 17% |
| 1 yr | 0.63 yr | 39% |
| 5 yr | 0.59 yr | 37% |
| 10 yr | 0.07 yr | 4% |
| 30 yr | 0.05 yr | 3% |
The two bands measure the same positions against different shocks and do not add — a Treasury carries rate duration and no spread duration, a floating-rate credit the reverse. Rate tenors are also summed across every currency the fund discloses.
Show the numbers
| Tenor | Rate yrs | IG yrs | HY yrs | IG $/bp | HY $/bp |
|---|---|---|---|---|---|
| 3 mo | +0.03 | +0.03 | +0.24 | $8.6k | $71.0k |
| 1 yr | +0.34 | +0.07 | +0.56 | $21.0k | $168.9k |
| 5 yr | +0.68 | +0.10 | +0.48 | $30.8k | $145.2k |
| 10 yr | +0.12 | +0.03 | +0.04 | $8.8k | $12.6k |
| 30 yr | +0.02 | +0.02 | +0.02 | $7.4k | $7.1k |
Dollar change per 1bp of spread movement, as filed and sign-anchored. A blank cell was not filed; a zero was.
Holdings
By % of NAV · equity positions carry filed share counts · every resolvable issuer links to its company page
| Ticker | Issuer | %NAV | Reported price | Value | Shares |
|---|---|---|---|---|---|
| — | Fidelity Revere Street Trust | 19.82% | — | $594.21M | — |
| — | ISHARES BROAD USD HIGH YIELD CORPORATE BOND ETF | 2.86% | $37.23 | $85.75M | 2.3M |
| — | Fidelity Private Credit Central Fund LLC | 2.10% | $9.37 | $62.95M | 6.7M |
| FIX | COMFORT SYSTEMS USA INCFIX | 1.92% | $1,840.25 | $57.60M | 31.3K |
| NVDA | NVIDIA CORPNVDA | 1.53% | $199.57 | $45.90M | 230.0K |
| TSM | TAIWAN SEMICONDUCTOR MFG CO LTDTSM | 1.37% | $396.06 | $41.19M | 104.0K |
| GOOGL | ALPHABET INCGOOGL | 1.20% | $384.80 | $35.90M | 93.3K |
| — | ENERGY TRANSFER LP | 1.03% | — | $30.90M | — |
| META | META PLATFORMS INCMETA | 0.94% | $611.91 | $28.27M | 46.2K |
| — | ECHOSTAR CORP10.75% · due 2029-11-30 | 0.87% | — | $26.18M | — |
Reported price is the fund's own reported value divided by its own reported shares at 2026-04-30 — not a live quote, and not what the fund paid.
Top 10 positions are 33.66% of net assets, top 25 43.56%, across 451 issuers.
See more of this fund's book
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