Fidelity Capital & Income Fund Q3 2025 Commentary (FAGIX)

Fidelity Investments 872 Follower s Follow 5 Share Save Play ( 13min ) Comments Summary U.S. high-yield bonds gained 2.40% in the third quarter, extending a rebound that began in early April. In Q3, the fund's substantial active exposure to equities drove its wide outperformance of the high-yield benchmark. We still see good relative value in stocks, despite somewhat stretched valuations as of quarter end. Looking ahead, we continue to think that stocks have modestly better risk/reward than high-yield bonds. da-kuk/E+ via Getty Images High-Yield Bond Market Review U.S. high-yield bonds gained 2.40% in the third quarter, extending a rebound that began in early April. The advance has been supported by strong corporate fundamentals, a resilient economy and the Federal Reserve's first interest-rate reduction This article was written by Fidelity Investments 872 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.

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