FWATX Fees and Costs — Fidelity Advisor Multi-Asset Income Fund, Class A
Data updated: 2026-08-24
The net expense ratio is 1.11% (1.12% before fee waivers). This share class carries a maximum front-end sales load of 4.00%. In fiscal 2025 the fund paid $2.5M in broker commissions, 0.0848% of average net assets, and portfolio turnover was 230%.
FWATX Fees and Expenses
Annual operating expenses and sales charges of FWATX. Prospectus, as of February 28, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.69% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.02% |
| Gross expense ratio | 1.12% |
| Fee waiver | −0.01% |
| Net expense ratio | 1.11% |
| Sales charges | |
|---|---|
| Max front load | 4.00% |
| 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 |
FWATX Costs Over Time
On $10,000 invested in FWATX, assuming 5% a year before costs, total costs come to $1,225 over 5 years, cutting the return by 2.10% 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 | $400 | $400 | $400 |
| Fund expenses (net expense ratio 1.11%) | $112 | $348 | $603 |
| Trading costs (broker commissions) | $9 | $27 | $46 |
| Lost growth on money paid in costs | $20 | $82 | $176 |
| Total costs | $540 | $857 | $1,225 |
| Value after costs | $9,960 | $10,720 | $11,538 |
| Impact on return, per year | 5.40% | 2.66% | 2.10% |
FWATX 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): 0.0848%
- Total broker commissions: $2.5M
- Bought from dealers (principal trades, not a cost): $5.4B
- Portfolio turnover (prospectus): 230%
- Securities on loan, average value: $129.9M
- Net income from securities lending: $3.1M (0.105% of average net assets)
FWATX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| CANTOR FITZGERALD LP | $336K | 18.53% |
| GOLDMAN SACHS GROUP INC (THE) | $302K | 16.67% |
| BANK OF AMERICA CORPORATION | $221K | 12.15% |
| MORGAN STANLEY | $205K | 11.32% |
| JPMORGAN CHASE and CO | $164K | 9.06% |
| ROYAL BANK OF CANADA | $145K | 7.98% |
| UBS GROUP AG | $144K | 7.93% |
| CITIGROUP INC | $111K | 6.11% |
| VIRTU FINANCIAL INC | $94K | 5.16% |
| JEFFERIES FINANCIAL GROUP INC | $92K | 5.09% |
FWATX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| JPMORGAN CHASE and CO | $883.8M | 19.98% |
| BANK OF AMERICA CORPORATION | $646.2M | 14.61% |
| CITIGROUP INC | $567.7M | 12.83% |
| BARCLAYS PLC | $567.7M | 12.83% |
| MORGAN STANLEY | $509.3M | 11.51% |
| GOLDMAN SACHS GROUP INC (THE) | $409.9M | 9.27% |
| BANCO SANTANDER SA | $334.2M | 7.55% |
| JEFFERIES FINANCIAL GROUP INC | $224.5M | 5.07% |
| WELLS FARGO and CO | $160.8M | 3.63% |
| THE TORONTO DOMINION BANK | $119.9M | 2.71% |
Fidelity Advisor Multi-Asset 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 |
|---|---|---|---|
| FIWBX | Class Z | 0.76% | none |
| FMSDX | Fidelity Multi-Asset Income Fund | 0.82% | — |
| FAYZX | Class I | 0.86% | none |
| FAZYX | Class M | 1.10% | 4.00% |
| FWATX | Class A | 1.11% | 4.00% |
| FWBTX | Class C | 1.86% | 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.