Fidelity Investments, a financial services provider, offers a wide range of mutual funds catering to various investment goals, risk tolerances, and investment styles. Today, we have focused on two Fidelity funds – FSKAX and FXAIX – with at least 10% upside potential projected by analysts over the next twelve months.
Let’s take a closer look at both funds.
Fidelity Total Market Index Fund (FSKAX)
The FSKAX mutual fund invests at least 80% of assets in U.S. stocks included in the Dow Jones U.S. Total Stock Market Index. As of today’s date, FSKAX has 3,867 holdings with total assets of over $79.6 billion. Interestingly, it has an impressive dividend yield of 2.39%, above the sector average of 1.66%. Also, FSKAX has generated a return of 25.6% over the past year.
Overall, FSKAX has a Moderate Buy consensus rating. This is based on the weighted average consensus rating of each stock held in the portfolio. Of the total stocks held, 2,238 have Buys, 1,533 have a Hold rating, and 96 have a Sell rating. The average FSKAX price target of $156.45 implies a 10.5% upside potential from the current levels.
Fidelity 500 Index Fund (FXAIX)
The FXAIX fund invests at least 80% of assets in the stocks included in the S&P 500 Index (SPX), which broadly represents the performance of U.S. stocks. The FXAIX fund has 506 holdings with total assets of $448.74 billion. Additionally, the fund has a dividend yield of 1.76%. The FXAIX fund has returned about 27% in the past year.
On TipRanks, FXAIX has a Moderate Buy consensus rating. This is based on 384 stocks with a Buy rating, 113 stocks with a Hold rating, and nine with a Sell rating. The average FXAIX mutual fund price target of $196.31 implies about 10% upside potential from the current levels.
Concluding Note
Mutual funds are overseen by experienced professionals, who conduct in-depth research. Further, they offer diversification and potentially lower risk compared to individual stocks. However, it would be wise to do your own research before investing in any mutual fund.
