FAPEX Fees and Costs — Fidelity Sustainable Low Duration Bond Fund, Class Z
Data updated: 2026-07-24
The net expense ratio is 0.20%: a 0.20% management fee plus 0.05% other expenses, less a 0.05% fee waiver. There are no sales loads or redemption fees. Portfolio turnover was 58%.
FAPEX Fees and Expenses
Annual operating expenses and sales charges of FAPEX. Prospectus, as of October 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.20% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.05% |
| Gross expense ratio | 0.25% |
| Fee waiver | −0.05% |
| Net expense ratio | 0.20% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
FAPEX Costs Over Time
On $10,000 invested in FAPEX, assuming 5% a year before costs, total costs come to $127 over 5 years, cutting the return by 0.21% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 0.20%) | $21 | $66 | $116 |
| Lost growth on money paid in costs | $0 | $3 | $12 |
| Total costs | $21 | $69 | $127 |
| Value after costs | $10,479 | $11,507 | $12,636 |
| Impact on return, per year | 0.21% | 0.21% | 0.21% |
FAPEX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending August 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $63.8M
- Portfolio turnover (prospectus): 58%
- Securities lending: none during the year
FAPEX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| NOMURA HOLDINGS INC | $9.3M | 19.01% |
| WELLS FARGO and CO | $8.3M | 17.04% |
| DEUTSCHE BANK AG | $6.3M | 12.94% |
| BANK OF MONTREAL QUE | $4.9M | 10.04% |
| MORGAN STANLEY | $4.8M | 9.80% |
| BANK OF AMERICA CORPORATION | $4.6M | 9.48% |
| GOLDMAN SACHS GROUP INC (THE) | $3.5M | 7.20% |
| JANE STREET GROUP LLC | $2.6M | 5.25% |
| JPMORGAN CHASE and CO | $2.5M | 5.16% |
| DAIWA SECURITIES GROUP INC | $2.0M | 4.09% |
Fidelity Sustainable Low Duration Bond Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| FAPEX | Class Z | 0.20% | none |
| FAPDX | Class I | 0.25% | none |
| FAPGX | Fidelity Sustainable Low Duration Bond Fund | 0.25% | — |
| FAPBX | Class M | 0.42% | 1.50% |
| FAMZX | Class A | 0.45% | 1.50% |
| FANDX | Class C | 1.28% | none |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.