Fidelity Mortgage Securities (FMSFX - Free Report) a Zacks Rank #3 (Hold) was incepted in December 1984 and is managed by the Fidelity Group. The main objective of FMSFX is to seek high level of current income, consistent with prudent investment risk. In seeking current income, FMSFX may also consider the potential for capital gain. FMSFX normally invests at least 80% of its total assets in investment-grade mortgage-related securities (those of medium and high quality) and repurchase agreements for those securities. The management may also invest FMSFX's assets in U.S. Government securities and instruments related to U.S. Government securities. FMSFX is managed to have a similar overall interest rate risk to the Lehman Brothers Mortgage-Backed Securities Index.
Fidelity Mortgage Securities, managed by Fidelity, carries an expense ratio of 0.45%. Moreover, FMSFX requires a minimal initial investment of $2,500.
FMSFX has a history of positive total returns for over 10 years. Specifically, the fund’s returns over the 1, 3, 5 year benchmarks; 1 year 3.49%, 3 year 3.64% and 5 year 2.96%. To see how this fund performed compared in its category and other #1 and #2 Ranked Mutual Funds, please click here.
FMSFX’s performance, as of the last filing, when compared to funds in its category was in the top 33% in 1 year, top 20% over the past 3 years, and in the 29% over the past 5 years.
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