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Frequent Contributor

FAGIX

All opinions welcome. But remember that LT returns have been hurt by 2020. Remember to look at rolling returns - or just the annual returns from 2010-2019 shown here:

https://www.morningstar.com/funds/xnas/fagix/quote

Always top or bottom quartile, never in between.

Currently held in an IRA.

TIA

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Participant ○○

Re: FAGIX

With up to 20% in equity, as I understand it, FAGIX will always be a thrill ride. It fell big time in 2008, but came back with its aggressive tilt. I didn't own it or any bond funds then. I got into FAGIX a few years ago in my IRA.

I own about $30K (used to be $40K) in my IRA. Still looking at about 4-5% TR. I expect it to come back. 




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Frequent Contributor

Re: FAGIX

Its 15-20% equity exposure is probably what drives the beta. Top stock holding Air Canada dropped > 50% YTD.

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Frequent Contributor

Re: FAGIX

Is FAGIX a HY with some stock? or a conservative-allocation fund with HY bond sleeve?

With 20.63% in stocks, it may very well belong to conservative allocation 15-30% [nominal]; some years ago, M* split that into CA1 15-30% [nominal] and CA2 30-50% [nominal].

I calculate its effective-equity % or RSD as 67.42% and that is more like moderate-allocation 50-70% [nominal].

So long as holders know how it acts, fine. But it is misclassified as HY fund. A conventional HY choice at Fido is SPHIX.

YBB
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Frequent Contributor

Re: FAGIX

Yogi- this is what makes it hard to assess the fund’s performance relative to separate HY and equity funds. It either smashes or gets smashed by its category in a given year - which tells me very little. How does one assess the quality and results of the actual security selection? Hard to see into that.

As an aside, the FAGIX managers also manage Fidelity Leveraged Co. Stock, FLVCX, which one can look into.

Edit: selling it today.

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Frequent Contributor

Re: FAGIX

@chang , more interesting to me is that FAGIX manager also handles the HY sleeve of Fido Strategic Income FADMX, the only multisector fund available in my Fido 403b. But I am more into core-plus [multi-lite] now, FTBFX.

YBB
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Participant ○○

Re: FAGIX


@yogibearbull wrote:

So long as holders know how it acts, fine. But it is misclassified as HY fund. A conventional HY choice at Fido is SPHIX.


My HY choice in my Fidelity account is VWEHX. Premium junk, they call it.

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Explorer ○

Re: FAGIX

Chang,

NWQIX could be a substitute to FAGIX.

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Frequent Contributor

Re: FAGIX


@Kinkelly wrote:

NWQIX could be a substitute to FAGIX.


Thanks ... but I am moving away from allocation type funds and prefer to mange equity and bonds separately. Also reducing costs.

@DocWu I hold VWEAX at Vang which is another reason I cut FAGIX loose.

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Frequent Contributor

Re: FAGIX

I see a clear path, reduce the number of funds, concentrate on Vanguard indexes and low ER funds.  Looks like a great process :-)

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Contributor ○○

Re: FAGIX

Seems good to sell, I never know what is going on with this fund.

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