Fidelity Limited Term Bond
ALTAR
Score™
1.5% info Median Credit
S&P/Moody's
BBB+/Baa1
 
Yield to
Maturity
2.0% Current
Yield
2.7%
Macaulay
Duration
2.6 yrs Modified
Duration
2.5%


  • Description
  • Performance
  • Fundamentals
  • Rate Sensitivity
  • Rating
The Fidelity Limited Term Bond ETF is an actively managed, broad-based bond fund with primary focus on investment-grade credits and target maturity between 2 and 5 years.

FUND BASICS
Category Aggregate
Fund Sponsor Fidelity
Website screener.fidelity.com
Inception date Oct 06, 2014
Assets (mns) $128
Currency USD
Expense ratio 36 bp
Distributions Monthly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian
Weighting Proprietary
Index replication

ISSUER TYPE BREAKDOWN

CONSTITUENT BREAKDOWN
No. of constituents 238
No of distinct issuers 171
Inflation protected 0%
Variable/Fixed coupon 9% /91%
Non-standard maturity (callable, etc.) 55%

TOP TEN HOLDINGS
UNITED STATES TREASUR 1.6% 5/31/23 3.9 %
UNITED STATES TREASUR 2.4% 8/15/24 2.7 %
UNITED STATES TREASUR 1.9% 9/30/22 2.4 %
JPMORGAN CHASE & CO. 2.6% 3/01/21 2.3 %
UNITED STATES TREASUR 2.1% 3/31/24 2.1 %
BANK OF AMERICA CORPO 2.6% 4/19/21 1.9 %
UNITED STATES TREASUR 2.6% 6/30/23 1.9 %
GOLDMAN SACHS GROUP, 2.6% 4/25/21 1.9 %
WELLS FARGO & COMPANY 2.1% 7/26/21 1.7 %
CITIGROUP INC. 2.7% 1/27/22 1.6 %
   
TOTAL 22.3 %

TOP ISSUERS
U.S. TREASURY20.5%
JPMORGAN CHASE & CO.2.5%
GOLDMAN SACHS GROUP, INC.2.2%
BANK OF AMERICA CORPORATION1.9%
WELLS FARGO & COMPANY1.7%

TOP COUNTRY EXPOSURE
United States 82.3 %
BRITAIN 3.9 %
CANADA 2.4 %
IRELAND 1.2 %
UNITED KINGDOM 1.1 %

 





HISTORICAL RETURNS info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru July 31)
Year-to-date 1 year 5 years 10 years Since Incep.
4.2% 5.6% -- -- 2.2%

Market Correlations
versus... Beta R-squared
Barclays Agg. Bond 0.49 83%
S&P500 -0.00 0%
MSCI EAFE 0.03 3%
MSCI Emg. Mkts. 0.03 7%

Technical Indicators
Recent close $51.09
30d moving avg. $50.83
Annualized volatility 1.6%
Short interest (ETF) 0.2%
Relative strength (RSI) 72
Liquidity measures
Avg. volume (thou.) 16
Avg. daily value traded (mns) $1
Turnover 0.6%
Bid/Ask (% of price) 0.07

Distributions


Yield Comparison

*Fund Category: AGGREGATE

CREDIT QUALITY: MOODY'S

DISTRIBUTION YIELD (TRAILING 12 MONTHS)
Macaulay Duration info
 
FLTB 2.6 yrs Category
Avg.*
5.0 yrs
 

Modified Duration info
 
FLTB 2.5% Category
Avg.*
5.0%

RATE SENSITIVITY ANALYSIS info
Change
in YTM
New
YTM
Est. Price
Change
Est. New
Price
+300 bp 5.03% -7.9% $47.06
+200 bp 4.03% -5.2% $48.44
+150 bp 3.53% -3.9% $49.11
+100 bp 3.03% -2.6% $49.78
+75 bp 2.78% -1.9% $50.11
+50 bp 2.53% -1.3% $50.44
+25 bp 2.28% -0.6% $50.77
0 bp 2.03% 0% $51.09
-25 bp 1.78% 0.6% $51.41
-50 bp 1.53% 1.3% $51.73
-75 bp 1.28% 1.9% $52.05
-100 bp 1.03% 2.5% $52.37
-150 bp 0.53% 3.7% $52.99
-200 bp 0.03% 4.9% $53.61
-300 bp -0.97% 7.3% $54.82

*Fund Category: AGGREGATE

ALTAR Score™


Calculation of ALTAR Score™
Adj. Yield to Maturity info 203 bp
Less: Annual "default factor" info 17 bp
Less: Expense ratio 36 bp
Equals: ALTAR Score 1.50 %
 

Average ALTAR Score™ by Category
Aggregate 1.7%
Corporate 2.3%
Emerging Market 3.6%
Government 1.6%
Inflation Protected 1.7%
Mortgage 2.8%
Municipals 2.2%
 
*Note: The Fidelity Limited Term Bond is classified as a Aggregate fund.

 

Our estimate of the impact of potential defaults on investor returns, based on historical default and recovery rates for bonds of similar credit rating and maturities.
See RATING tab for calculations of ALTAR Score™
Estimate of fund sensitivity to interest rate changes based on modified duration and convexity adjustment applied to underlying bonds. Note: Less meaningful for inflation-indexed bonds.
Adds expected inflation to real YTM for inflation-linked bonds so that all instruments are compared on a nominal basis
Weighted-average term to maturity of the cash flows from a bond. All else being equal, bonds of longer duration are more sensitive to changes in interest rates than bonds of shorter duration.
Approximation of the change in bond prices given a 100 basis point shift in interest rates. A better estimate, particularly for larger moves in interest rates, is provided by the Rate Sensitivity Analysis below.