Fidelity Floating Rate High Income Fund Q3 2025 Commentary (FFRHX)

Fidelity Investments 873 Follower s Follow 5 Share Save Play ( 12min ) Comments Summary We apply a core investment approach, with the majority of the fund concentrated in securities rated B and BB – the heart of the leveraged-loan market. Leveraged loans gained 1.76% in the third quarter, as measured by the Morningstar Lsta Us Performing Loans Index, lagging both high-yield and investment-grade corporate credit. For the quarter, the fund's Retail Class shares gained 1.72%, versus 1.76% for the benchmark, the Morningstar Lsta Us Performing Loans Index. With the index yield averaging about 7.6% as of September 30, we think loans will still offer an attractive yield compared with other income-oriented investments. Whatever challenges the market may present, we will continue to focus on companies that we believe have strong franchises and assets, adequate liquidity, and operating flexibility. a-image/iStock via Getty Images Loan Market Review Leveraged loans gained 1.76% in the third quarter, as measured by the Morningstar Lsta Us Performing Loans Index, lagging both high-yield and investment-grade corporate credit. Loans also trailed interest-rate-sensitive fixed-income categories amid declining rates and the This article was written by Fidelity Investments 873 Follower s Follow Fidelity’s mission is to strengthen the financial well-being of our customers and deliver better outcomes for the clients and businesses it serves. With assets under administration of $12.6 trillion, including discretionary assets of $4.9 trillion as of December 31, 2023, Fidelity focuses on meeting the unique needs of a broad and growing customer base. Privately held for 77 years, Fidelity employs more than 74,000 associates with its headquarters in Boston and a global presence spanning nine countries across North America, Europe, Asia and Australia. Note: This account is not managed or monitored by Fidelity, and any messages sent via Seeking Alpha will not receive a response. For inquiries or communication, please use Fidelity's official channels.

Preview: ~308 words