Fidelity Corporate Bond Fund Q1 2025 Review

2025-05-07 23:35:00 ET

Summary

• Fidelity® Corporate Bond Fund is a credit-focused bond strategy that seeks a high level of current income.
• Historically, U.S. Treasury yields tend to drop when economic uncertainty rises – and uncertainty rose sharply during the three months.
• Among maturities, long-term (10+ years) bonds fared best amid declining rates. By credit quality, securities rated AA had a notable performance advantage over other investment-grade bonds.
• U.S. Treasury yields fell across the yield curve during the quarter, led by two- to 10-year maturities.

Investment Approach

• Fidelity® Corporate Bond Fund is a credit-focused bond strategy that seeks a high level of current income.
• Benchmarked against the Bloomberg U.S. Credit Bond Index, the fund seeks to deliver competitive risk-adjusted performance commensurate with investor expectations of a primarily investment-grade corporate bond fund.
• Utilizing a team-based investment process, the fund relies on experienced portfolio managers, research analysts and traders. We concentrate on areas where we believe we can repeatedly add value, including security selection, industry allocation and opportunistic trading.
• Robust governance and risk management – consisting of extensive quantitative modeling, formal and informal portfolio reviews, and proprietary tools – support the identification of both opportunities and risks.

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