Fund Facts  

Inception Date: Dec 4, 2018
CUSIP: 31641Q698
Ticker Symbol: FGVMX
Morningstar Category:Emerging Markets Bond
As of Jun 30, 2020
Fund Net Assets ($millions) $7,405

Documents for Fund or Underlying Fund(s)  



The investment seeks high current income; capital appreciation is a secondary objective.

Principal Investment Strategies  

The fund normally invests at least 80% of assets in securities of issuers in emerging markets (countries that have an emerging stock market as defined by MSCI, countries or markets with low- to middle-income economies as classified by the World Bank, and other countries or markets with similar emerging characteristics) and other investments that are tied economically to emerging markets. It is non-diversified.

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 Jun 30, 2020
Fund/Benchmark Name QtrYTD1-Yr3-Yr5-Yr10-YrSince Inception
Fidelity Adv New Markets Inca11.90%-4.10%-2.67%N/AN/AN/A3.87%
JP Morgan Emerging Markets Bond Index Globala,b11.21%-1.87%1.52%3.31%5.12%5.82%N/A
Morningstar Emerging Markets Bonda,c12.69%-3.87%-1.14%2.20%3.89%4.73%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, participants or plan sponsors in an ICMA-RC administered account can log in at, or institutions can go to

Fund performance is shown comparing it to a "benchmark" which may be a (i) broad-based securities market index (ii) a group of mutual funds with similar investment objectives, or (iii) a short term government backed debt obligation such as a U.S. Treasury Bill. An index is not available for direct investment, is unmanaged, and does not reflect the costs of portfolio management or trading. A fund's portfolio may differ from the securities held in an index.

Fund Expensesa
Gross Expenses1.12%
Net Expenses1.12%


a. Certain information including, but not limited to, benchmark performance or other performance and/or fee information, is provided by Morningstar, Inc., © 2020 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 nor 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 JP Morgan Emerging Markets Bond Index Global is a traditional, market-capitalization-weighted index, which tracks total returns for U.S. dollar-denominated debt instruments issued by emerging market sovereign and quasi-sovereign entities, including Brady bonds, loans and Eurobonds.

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.


Dividends and Capital Gains  
Record Date Ex/Payable Date Income/Capital Gains Paid Per Share
Aug 1, 2020 to Aug 31, 2020Aug 31, 2020$0.043685591
Jul 1, 2020 to Jul 31, 2020Jul 31, 2020$0.050506008
May 30, 2020 to Jun 30, 2020Jun 30, 2020$0.044887309
May 1, 2020 to May 29, 2020May 29, 2020$0.054970058
Apr 1, 2020 to Apr 30, 2020Apr 30, 2020$0.054374096
Mar 1, 2020 to Mar 31, 2020Mar 31, 2020$0.049080070
Feb 1, 2020 to Feb 28, 2020Feb 28, 2020$0.050483700
Jan 1, 2020 to Jan 31, 2020Jan 31, 2020$0.057870231
Nov 30, 2019 to Dec 31, 2019Dec 31, 2019$0.057262760
Dec 26, 2019Dec 26, 2019$0.015000000
Nov 1, 2019 to Nov 29, 2019Nov 29, 2019$0.055882411
Oct 1, 2019 to Oct 31, 2019Oct 31, 2019$0.055673802
Aug 31, 2019 to Sep 30, 2019Sep 30, 2019$0.050621566
Aug 1, 2019 to Aug 30, 2019Aug 30, 2019$0.061383618
Jun 29, 2019 to Jul 31, 2019Jul 31, 2019$0.060345588
Jun 1, 2019 to Jun 28, 2019Jun 28, 2019$0.052473356
May 1, 2019 to May 31, 2019May 31, 2019$0.064550539
Mar 30, 2019 to Apr 30, 2019Apr 30, 2019$0.057317716

Morningstar Information

Morningstar RatingTM   As of Jun 30, 2020
Period Stars Category Size
Overall 3 Stars233
3-Year N/A N/A
5-Year N/A N/A
10-Year N/A N/A

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.

Allocation of Assets As of May 31, 2020
Type of Asset Percent
Fixed Income91%

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



Allocation of Assets As of May 31, 2020
Asset ClassPercent
Domestic Stock0.0%
Foreign Stock0.7%
Domestic Bond5.7%
Foreign Bond85.0%

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


Equity Sector As of May 31, 2020
Financial Services0.3%
Basic Materials0.2%
Communication Services0.0%
Consumer Cyclical0.0%
Real Estate0.0%

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

Credit Quality As of May 31, 2020
Quality LevelPercent
Below B16.9%
Not Rated10.0%

Due to rounding, percentages shown may not add up to 100%. Exposure reflects fixed income securities only.

Top Ten Holdings As of May 31, 2020
Holding NamePercent
United States Treasury Notes 2%2.8%
Petroleos Mexicanos 7.69%2.6%
Ukraine (Republic of) 7.75%2.4%
United States Treasury Notes 0.38%2.3%
Ukraine (Republic of) 7.75%2.0%
Eskom Holdings SOC Limited 5.75%1.8%
Argentina (Republic of) 6.88%1.7%
Pemex Project Funding Master Trust 6.62%1.6%
1MDB Global Investments Ltd. 4.4%1.5%
Egypt (Arab Republic of) 7.5%1.4%
Fixed Income Sector As of May 31, 2020
Cash & Equivalents8.5%

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



Portfolio Statistics As of Jun 30, 2020
Standard DeviationN/AN/A



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, or log in at

The source for this information is Morningstar, Inc. Copyright © 2020 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.