Industry description
The investment seeks a high level of current income.
The fund invests primarily in investment-grade debt securities (those of medium and high quality) of all types and repurchase agreements for those securities. It invests up to 30% of assets in high yield and emerging market debt securities. The fund invests in domestic and foreign issuers. It allocates assets among affiliated fixed-income funds (i.e., Fidelity® Funds) non-affiliated fixed-income funds that participate in Fidelity's FundsNetwork®, non-affiliated ETFs (underlying funds) and sub-advisers.