FGZMX Fees and Costs — Fidelity New Markets Income Fund, Class I
Data updated: 2026-08-24
The net expense ratio is 0.79%: a 0.77% management fee plus 0.02% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $66K in broker commissions, 0.0013% of average net assets, and portfolio turnover was 25%.
FGZMX Fees and Expenses
Annual operating expenses and sales charges of FGZMX. Prospectus, as of February 28, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.77% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.02% |
| Gross expense ratio | 0.79% |
| Fee waiver | — |
| Net expense ratio | 0.79% |
| 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 | No |
| Waived fees subject to recoupment | No |
FGZMX Costs Over Time
On $10,000 invested in FGZMX, assuming 5% a year before costs, total costs come to $497 over 5 years, cutting the return by 0.83% 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 0.79%) | $83 | $259 | $451 |
| Trading costs (broker commissions) | $0 | $0 | $1 |
| Lost growth on money paid in costs | $0 | $13 | $45 |
| Total costs | $83 | $273 | $497 |
| Value after costs | $10,417 | $11,304 | $12,266 |
| Impact on return, per year | 0.83% | 0.83% | 0.83% |
FGZMX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0013%
- Total broker commissions: $66K
- Bought from dealers (principal trades, not a cost): $1.9B
- Portfolio turnover (prospectus): 25%
- Securities on loan, average value: $10.3M
- Net income from securities lending: $90K (0.002% of average net assets)
FGZMX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| MORGAN STANLEY | $49K | 74.49% |
| BANK OF AMERICA CORPORATION | $7K | 10.43% |
| JEFFERIES FINANCIAL GROUP INC | $6K | 9.60% |
| ROYAL BANK OF CANADA | $2K | 3.66% |
| GOLDMAN SACHS GROUP INC (THE) | $1K | 1.83% |
FGZMX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| JPMORGAN CHASE and CO | $301.6M | 18.63% |
| CITIGROUP INC | $247.0M | 15.25% |
| BARCLAYS PLC | $203.9M | 12.59% |
| HSBC HOLDINGS PLC | $200.4M | 12.38% |
| MORGAN STANLEY | $138.7M | 8.56% |
| JEFFERIES FINANCIAL GROUP INC | $125.6M | 7.76% |
| DEUTSCHE BANK AG | $123.0M | 7.60% |
| BANK OF AMERICA CORPORATION | $121.6M | 7.51% |
| GOLDMAN SACHS GROUP INC (THE) | $115.6M | 7.14% |
| STANDARD CHARTERED PLC | $41.8M | 2.58% |
Fidelity New Markets 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 |
|---|---|---|---|
| FGBMX | Class Z | 0.69% | none |
| FNMIX | Fidelity New Markets Income Fund | 0.75% | — |
| FGZMX | Class I | 0.79% | none |
| FGVMX | Class A | 1.04% | 4.00% |
| FGWMX | Class M | 1.04% | 4.00% |
| FGYMX | Class C | 1.79% | 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.