FFRAX Fees and Costs — Fidelity Advisor Floating Rate High Income Fund, Class A
Data updated: 2026-09-23
The net expense ratio is 1.02%. This share class carries a maximum front-end sales load of 2.75%. In fiscal 2025 the fund paid $1K in broker commissions, and portfolio turnover was 58%.
FFRAX Fees and Expenses
Annual operating expenses and sales charges of FFRAX. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.68% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.01% |
| Gross expense ratio | 1.02% |
| Fee waiver | — |
| Net expense ratio | 1.02% |
| Sales charges | |
|---|---|
| Max front load | 2.75% |
| 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 |
FFRAX Costs Over Time
On $10,000 invested in FFRAX, assuming 5% a year before costs, total costs come to $971 over 5 years, cutting the return by 1.65% 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 |
| Sales charges | $275 | $275 | $275 |
| Fund expenses (net expense ratio 1.02%) | $104 | $325 | $563 |
| Lost growth on money paid in costs | $14 | $59 | $133 |
| Total costs | $393 | $659 | $971 |
| Value after costs | $10,107 | $10,917 | $11,792 |
| Impact on return, per year | 3.93% | 2.03% | 1.65% |
FFRAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: $1K
- Bought from dealers (principal trades, not a cost): $9.0B
- Portfolio turnover (prospectus): 58%
- Securities on loan, average value: $0
- Net income from securities lending: $652 (0.000% of average net assets)
FFRAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| GOLDMAN SACHS GROUP INC (THE) | $809 | 74.16% |
| MORGAN STANLEY | $94 | 8.58% |
| ROYAL BANK OF CANADA | $89 | 8.18% |
| TP ICAP GROUP PLC | $43 | 3.90% |
| VIRTU FINANCIAL INC | $31 | 2.86% |
| UBS GROUP AG | $22 | 2.06% |
| BANK OF AMERICA CORPORATION | $2 | 0.14% |
| JPMORGAN CHASE and CO | $1 | 0.11% |
FFRAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| JPMORGAN CHASE and CO | $2.1B | 25.48% |
| BANK OF AMERICA CORPORATION | $1.4B | 17.62% |
| GOLDMAN SACHS GROUP INC (THE) | $1.2B | 13.99% |
| MORGAN STANLEY | $1.1B | 13.26% |
| BARCLAYS PLC | $521.4M | 6.34% |
| CITIGROUP INC | $478.0M | 5.81% |
| JEFFERIES FINANCIAL GROUP INC | $465.3M | 5.66% |
| WELLS FARGO and CO | $346.8M | 4.22% |
| ROYAL BANK OF CANADA | $324.2M | 3.94% |
| UBS GROUP AG | $302.7M | 3.68% |
Fidelity Advisor Floating Rate High Income Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| FIQSX | Class Z | 0.67% | none |
| FFRHX | Fidelity Floating Rate High Income Fund | 0.73% | — |
| FFRIX | Class I | 0.77% | none |
| FFRAX | Class A | 1.02% | 2.75% |
| FFRTX | Class M | 1.02% | 2.75% |
| FFRCX | Class C | 1.77% | 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.