Fidelity Corporate Bond Fund
Actively managed U.S. bond fund
As of its 2026 Q2 report, Fidelity Corporate Bond Fund held 618 positions with $2.02B in net assets. Its ten largest holdings made up 8.7% of the fund. The FCBFX share class costs 0.45% a year. Over the 12 months to May 2026, FCBFX returned 6.1%, with dividends reinvested. In 2026 Q2 it added 46 new positions and exited 40.
Fidelity Corporate Bond Fund seeks a high level of current income.
The fund invests at least 80% of assets in investment-grade corporate bonds and related debt securities, managing interest rate risk to align with the Bloomberg U.S. Credit Bond Index, while also holding up to 20% in lower-quality high-yield debt. The manager selects securities by analyzing credit quality, valuation, and trading opportunities rather than tracking the index mechanically. The fund may use derivatives and leverage to adjust risk exposure. Because security selection drives returns rather than index replication, the fund's performance will diverge from its benchmark.
What you own
| Company | Weight | Value | Shares |
|---|---|---|---|
Fidelity Revere Street Trust | 2.08% | $41.90M | — |
UNITED STATES TREASURY BOND 4.75% · due 2056-02-15 | 1.96% | $39.51M | — |
PEACHTREE CORNERS FUNDING TRUST II 6.01% · due 2035-05-15 | 0.65% | $13.10M | — |
BAYER US FIN LLC 6.88% · due 2053-11-21 | 0.61% | $12.24M | — |
JPMORGAN CHASE and CO 5.72% floating · due 2033-09-14 | 0.60% | $12.11M | — |
MORGAN STANLEY 5.32% floating · due 2035-07-19 | 0.60% | $12.12M | — |
WELLS FARGO and CO 5.50% floating · due 2035-01-23 | 0.58% | $11.64M | — |
ARES CAPITAL CORP 2.15% · due 2026-07-15 | 0.53% | $10.77M | — |
HUDSON PACIFIC PROPERTIES LP 5.95% · due 2028-02-15 | 0.53% | $10.77M | — |
OMEGA HEALTHCARE INVESTORS INC 3.38% · due 2031-02-01 | 0.52% | $10.59M | — |
The 200 largest of 618 holdings, with the share counts as filed, open with a free account.
What the fund is made of
Percentages are of fund net assets. Rounding, liabilities and short positions can make totals differ from 100%.
| Bonds | 95.19% |
| Securitized | 2.30% |
| Cash & short-term | 2.08% |
| Stocks | 0.31% |
By sector
- Other
- 23.7%
- Financials
- 18.4%
- International
- 11.6%
- Utilities
- 10.9%
- 12 other sectors
- 35.5%
- Other
- 23.7%
- Financials
- 18.4%
- International
- 11.6%
- Utilities
- 10.9%
- Communication Services
- 5.7%
- Information Technology
- 5.5%
- Real Estate
- 4.2%
- Health Care
- 3.3%
- Industrials
- 3.1%
- Government
- 3.1%
- Energy
- 3.1%
- Securitized
- 2.3%
- Cash
- 2.1%
- Consumer Discretionary
- 1.9%
- Consumer Staples
- 1.2%
- Materials
- 0.1%
How it has done
FCBFX share class · total returns with dividends reinvested
Volatility over the last 12 months: 3.59%. Past returns are a record, not a forecast.
The 6 share classes hold the same portfolio
| Share class | Expense ratio | 1 year | 3 years | 5 years | Worst fall |
|---|---|---|---|---|---|
| 0.45% | +6.11% | +17.84% | +3.28% | -5.52% | |
| 0.77% | +5.76% | +16.72% | +1.62% | -5.59% | |
| 1.52% | +4.97% | +14.38% | -1.72% | -5.76% | |
| 0.80% | +5.72% | +16.54% | +1.37% | -5.60% | |
| 0.50% | +6.03% | +17.63% | +2.99% | -5.53% | |
| 0.36% | +6.18% | +18.22% | +3.78% | -5.50% |
These classes hold the same portfolio, so the 5.50pp spread over 5 years is the cost difference between them — roughly 1.10pp a year — not a difference in what they own.
Fees & fund details
Fidelity Corporate Bond Fund is an actively managed U.S. bond fund.
- Asset class
- Bonds
- Region
- United States
- Management
- Actively managed
- Fund type
- Open-end fund
- Credit quality
- Investment grade
- Rate sensitivity
- Intermediate duration
- Expense ratio, by class
- 0.36% – 1.52%· FCBFX 0.45%
- Portfolio turnover
- 43.00% a year · as of 2025 Q4
Net is what a holder pays after the adviser's contractual waiver; gross is before it. A waiver can expire.
Turnover is how much of the portfolio was replaced in a year.
Classified from what the fund holds, not from its name · 2026 Q2. The summary is a paraphrase of the prospectus; the objective is verbatim.
What changed this quarter
Positions that entered or left the fund since its previous filing. Positions that were only resized are not listed.
46 new· the largest 7
40 exited· the largest 8
Debt profile
What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-05-31
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 | 80.5% |
| Floating rate | 19.5% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 1.5% |
| 1-3y | 6.9% |
| 3-5y | 21.1% |
| 5-10y | 43.9% |
| 10y+ | 26.7% |
Based on what filers reported; a filer that never reported a flag also reads as none.
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 | 51% |
| Interest rates | 49% |
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.
| Investment grade | +6.86 yr |
| High yield | +0.07 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 | 0.00 yr | 0% |
| 1 yr | 0.30 yr | 5% |
| 5 yr | 2.06 yr | 31% |
| 10 yr | 2.10 yr | 32% |
| 30 yr | 2.13 yr | 32% |
| 3 mo | 0.46 yr | 7% |
| 1 yr | 1.57 yr | 23% |
| 5 yr | 2.60 yr | 38% |
| 10 yr | 1.65 yr | 24% |
| 30 yr | 0.65 yr | 9% |
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 | +0.00 | +0.45 | +0.01 | $90.5k | $2.1k |
| 1 yr | +0.30 | +1.54 | +0.02 | $311.9k | $4.4k |
| 5 yr | +2.06 | +2.59 | +0.01 | $523.2k | $2.8k |
| 10 yr | +2.10 | +1.63 | +0.02 | $329.5k | $3.9k |
| 30 yr | +2.13 | +0.65 | +0.00 | $130.9k | $31 |
Dollar change per 1bp of spread movement, as filed and sign-anchored. A blank cell was not filed; a zero was.
Understand how this fund fits with the rest.
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