FDHY Stock, Fidelity High Yield Factor Information

The investment seeks a high level of income. The fund normally invests at least 80% of its assets in debt securities rated below investment grade also referred to as high yield debt securities or junk bonds. It uses the ICE BofAML BBB US High Yield Constrained Index as a guide in structuring the fund and selecting its investments as it relates to credit quality distribution and risk characteristics. The fund normally invests primarily in securities rated BB or B by SP Ba or B by Moodys comparably rated by at least one nationally recognized credit rating agency or if unrated considered by FMRC to be of comparable quality. The fund normally invests at least 80% of its assets in debt securities rated below investment grade (also referred to as high yield debt securities or junk bonds). It uses the ICE BofAML BB-B US High Yield Constrained Index as a guide in structuring the fund and selecting its investments as it relates to credit quality distribution and risk characteristics.