Fund Facts  

Inception Date: Dec 23, 2003
CUSIP: 315916767
Ticker Symbol: FAVFX
Morningstar Category:Mid-Cap Value
As of Sep 30, 2017
Fund Net Assets ($millions) $112

Documents for Fund or Underlying Fund(s)  

Description

Objective  

The investment seeks capital appreciation.

Principal Investment Strategies  

The fund invests primarily in common stocks. It invests in securities of companies that possess valuable fixed assets or that Fidelity Management & Research Company (FMR) believes are undervalued in the marketplace in relation to factors such as assets, earnings, or growth potential (stocks of these companies are often called "value" stocks). The fund focuses investments in medium-sized companies, but also may invest substantially in larger or small companies. It invests in domestic and foreign issuers.

Principal Investment Risks  

There is no guarantee that the Fund will achieve its investment objective. You may lose money by investing in the Fund. Please see the Fund’s prospectus or other disclosure documents for information about the Fund’s risks.

 

Performance & Expenses

Standard Performance As of Sep 30, 2017
Fund/Benchmark Name QtrYTD1-Yr3-Yr5-Yr10-YrSince Inception
Fidelity Advisor Value Aa2.93%10.11%15.74%7.76%13.41%5.77%8.31%
Russell Midcap Value Indexa,b2.14%7.43%13.37%9.19%14.33%7.85%N/A
Morningstar Mid-Cap Valuea,c3.06%7.46%14.83%7.90%12.71%6.85%N/A

Fund past performance, as shown, is no guarantee of how the Fund will perform in the future. The performance shown has been annualized for periods greater than one year. Investment returns and principal value will fluctuate, so that an investor's shares, when redeemed, may be worth more or less than their original cost. For current performance, visit www.icmarc.org.

Fund Expensesa
Gross Expenses1.24%
Net Expenses1.24%

 

a. Certain information including, but not limited to, benchmark performance or other performance and/or fee information, is provided by Morningstar, Inc., © 2017 All rights reserved. This information: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed and (3) is not warranted to be accurate, complete or timely. Neither Morningstar and/or its content providers are responsible for any damages or losses arising from any use of information. Morningstar is a registered trademark of Morningstar, Inc.

b. The Russell Midcap® Value Index measures the performance of the mid-cap value segment of the U.S. equity universe. It includes those Russell Midcap® Index companies with lower price-to-book ratios and lower forecasted growth values.

c. The Morningstar category represents the average return for a category of funds with similar investment objectives and strategies. The average is calculated and funds are assigned to a category by Morningstar.

Distributions

Dividends and Capital Gains  
Record Date Ex/Payable Date Income/Capital Gains Paid Per Share
Dec 9, 2016Dec 9, 2016$0.145000000
Dec 4, 2015Dec 4, 2015$0.484000000
Dec 26, 2014Dec 26, 2014$0.008000000
Dec 5, 2014Dec 5, 2014$0.058000000
Dec 6, 2013Dec 6, 2013$0.085000000
Dec 27, 2012Dec 27, 2012$0.023000000
Dec 7, 2012Dec 7, 2012$0.091000000
 

Morningstar Information

Morningstar RatingTM   As of Sep 30, 2017
Period Stars Category Size
Overall 3 Stars363
3-Year 3 Stars363
5-Year 3 Stars319
10-Year 2 Stars226

The Morningstar Rating™ for funds, or “star rating”, is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange–traded funds, closed–end funds, and separate accounts) with at least a three–year history. Exchange–traded funds and open–ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk–Adjusted Return measure that accounts for variation in a managed product′s monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three–, five–, and 10–year (if applicable) Morningstar Rating metrics. The weights are: 100% three–year rating for 36–59 months of total returns, 60% five–year rating⁄40% three–year rating for 60–119 months of total returns, and 50% 10–year rating⁄30% five–year rating⁄20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods.

Morningstar Stylebox As of Sep 30, 2017
Equity Stylebox
Medium Value
Allocation of Assets As of Jul 31, 2017
Type of Asset Percent
Equity98%
Fixed Income0%
Cash/Other2%

Due to rounding, percentages shown may not add up to 100%.

 
 

Characteristics

Allocation of Assets As of Jul 31, 2017
Asset ClassPercent
Domestic Stock88.8%
Foreign Stock9.1%
Domestic Bond0.0%
Foreign Bond0.0%
Preferred0.0%
Convertible0.2%
Cash1.9%
Other0.1%

Due to rounding, percentages shown may not add up to 100%.

 
Equity Sector As of Jul 31, 2017
SectorPercent
Financial Services16.8%
Industrials13.4%
Real Estate11.1%
Consumer Cyclical10.9%
Utilities8.4%
Technology7.7%
Healthcare7.2%
Energy6.9%
Basic Materials5.8%
Consumer Defensive5.3%
Communication Services3.4%

Exposure reflects equity securities only and will sum to the equity exposure of the fund.

 
Top Ten Holdings As of Jul 31, 2017
Holding NamePercent
Sempra Energy1.8%
Xcel Energy Inc1.7%
Edison International1.5%
Discover Financial Services1.4%
American Tower Corp1.4%
Synchrony Financial1.3%
US Bancorp1.3%
Colony NorthStar Inc A1.2%
Wells Fargo & Co1.2%
CIT Group Inc1.1%
 

Statistics

Portfolio Statistics As of Sep 30, 2017
Statistic3-Year5-Year
Beta1.041.03
Alpha-1.64-1.11
Standard Deviation11.3310.97
 
 

Footnotes

1.

Please read the fund's prospectus or disclosure materials carefully for a complete summary of all fees, expenses, investment objectives and strategies, risks, financial highlights, and performance information. Investing involves risk, including possible loss of the amount invested. Investors should carefully consider the information contained in the prospectus or disclosure materials before investing. To request a prospectus or disclosure materials, you may contact us by calling 800-669-7400, emailing investorservices@icmarc.org, or visiting www.icmarc.org.

The source for this information is Morningstar, Inc. Copyright © 2017 Morningstar, Inc.® All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Morningstar, Inc. is a global investment research firm that is not affiliated with ICMA-RC. ICMA-RC does not independently verify Morningstar data.

Morningstar places funds in certain categories based on the fund's historical portfolio holdings. Placement of a fund in a particular Morningstar category does not mean that the fund will remain in that category or that it will invest primarily in securities consistent with its Morningstar category. A fund's investment strategy and portfolio holdings are governed by its prospectus, guidelines or other governing documents, not its Morningstar category.