Evidence and analysis
- Share-class currency
- USD
- ISIN
- LU0261947682
- Hedging status
- Not inferred from currency; consult the exact share-class factsheet.
The fund's base currency, shown in the prospectus description below, can differ from this share class's dealing currency. All benchmark comparisons above use the stated share-class currency.
Benchmark: ICE BofA Q4AR Custom Index (a custom USD Aggregate Bond index which excludes the Federal Reserve SOMA holdings)
| Period | Fund | Index | Gap (pp) |
|---|---|---|---|
| 1 year | -3.5% | -1.9% | -1.6 |
| 1-year: Underperforming | |||
| 3 years | 9.0% | 12.3% | -3.3 |
| 3-year: Underperforming | |||
Gap = fund minus index in percentage points. Returns are cumulative, with dividends reinvested, in the share class currency. Includes ongoing charges; excludes entry/exit fees. Based on Fidelity's rounded comparison table. A negative gap indicates underperformance for that period.
Latest Official Fund Data
| Metric | Current official value |
|---|---|
| NAV (USD) | 17.8000 |
| NAV date | 2026-10-23 |
| Daily NAV change | -0.0100 (-0.0561%) |
| 1-year performance | -3.5320% |
| 3-year performance | 9.0456% |
| Performance date | 2026-09-30 |
| Fund type | Bond Fund |
| ISIN | LU0261947682 |
Source: Fidelity Hong Kong mutual-fund directory, retrieved 2026-10-26. Observation dates are shown separately; performance figures are reproduced from the official directory in the share class currency. Historical risk and return analysis below has not been recalculated by this directory refresh.
Portfolio Manager
Rick Patel, Ario Emami Nejad
The Fidelity Funds - US Dollar Bond Fund A-ACC-USD page has been refreshed from Fidelity Funds’ April 2026 Hong Kong Extract Prospectus. The PDF fund description is for US Dollar Bond Fund.
Investment Objective
The fund aims to achieve capital growth over time and provide income.
Investment Policy
The fund invests at least 70% (and normally 75%) of its assets, in US dollar denominated debt securities. The fund may also inves t in money market instruments on an ancillary basis.
Investment Process
In actively managing the fund, the Investment Manager uses in-house research and investment capabilities to identify suitable opportunities across bond issuers, sectors, geographies, and security types. This may include an assessment of bond issuers creditworthiness, macroeconomic factors, and valuations. The Investment Manager considers ESG characteristics when assessing investment risks and opportunities. In determining ESG characteristics, the Investment Manager takes into account ESG ratings provided by Fidelity or external agencies. The fund aims to achieve an ESG score of its portfolio greater than that of its benchmark. Through the investment management process the Investment Manager aims to ensure that investee issuers follow good governance practices. For more information, see Sustainable Investing and ESG Integration and the Sustainability Annex.
SFDR Product Category
Article 8 (promotes environmental and/or social characteristics) ESG Tilt.
Derivatives and Techniques
The fund may use derivatives for hedging, efficient portfolio management and investment purposes. In addition to core derivatives (see How the Funds Use Instruments and Techniques), the fund intends to use TRS TRS (including CFD) usage Expected 10%; maximum 50%. Securities lending Expected 15%; maximum 30%. Repos/reverse repos Expected 0%; maximum 30%.
Benchmark
ICE BofA Q4AR Custom Index (a custom USD Aggregate Bond index which excludes the Federal Reserve SOMA holdings), a broad market index that does not take into account ESG characteristics. Used for: risk monitoring, investment selection and performance comparison. The fund invests in securities of the benchmark, however, the management of the fund is discretionary, therefore the fund may invest in securities not included in the benchmark, and its performance over an y period may or may not deviate significantly from that of the benchmark.
Base Currency
USD.
Main Risks
- CoCo bonds
- Concentration
- Convertible securities
- Counterparty and collateral
- Credit
- Currency
- Derivatives
- Distressed securities
- Hedging
- High yield
- Interest rate
- Investment fund
- Liquidity
- Market
- Operational
- Sustainable investing
Risk Management Method
Commitment.
Source
- Fidelity Funds, April 2026 Hong Kong Extract Prospectus:
data/fidelity/pr.ff.HK-en.HK.pdf