Fidelity GNMA Fund
FGMNX
NASDAQ- -
USD
- -
- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 245 Summer Street Boston MA United States of America 02210
- IPO Date
- Nov 8, 1985
- CIK
- 0000751199
- Website
- institutional.fidelity.com
- Similar Companies
- Business
- Fidelity GNMA Fund (FGMNX) is an open-end mutual fund managed by Fidelity Investments that seeks a high level of current income consistent with prudent investment risk by normally investing at least 80% of assets in Ginnie Maes, which are mortgage-backed securities guaranteed by the Government National Mortgage Association (GNMA), and repurchase agreements for Ginnie Maes; it also invests in other U.S. government securities and instruments related to U.S. government securities issued by entities chartered or sponsored by Congress. The fund targets intermediate-term government mortgage-backed securities within the Bloomberg GNMA Index benchmark, emphasizing securities across the maturity spectrum with consideration for credit quality, security-specific features, current and potential future valuation, and trading opportunities. It serves individual and institutional investors seeking exposure to GNMA-backed mortgage securities, with portfolio assets of approximately $1.77 billion as of late 2025 and a net expense ratio of 0.44%. Launched on November 8, 1985, and domiciled in the United States with headquarters at Fidelity Investments in Boston, Massachusetts, the fund operates primarily in U.S. fixed income markets. Current portfolio managers include Franco Castagliuolo, who has managed the fund since December 15, 2009, and co-manager Sean Corcoran since December 8, 2017. Top holdings typically feature Government National Mortgage Association securities, such as GNMA 0.06%, 0.02%, 0.055%, and 0.03% pools, comprising over 20% of the portfolio in the top five positions; the fund maintains high credit quality with nearly all assets in U.S. bonds (97.25%) and minimal cash (3.69%). In recent years, the fund has maintained stable management without major strategic shifts, acquisitions, partnerships, or name changes beyond its historical rebranding from Fidelity Income Fund - Fidelity Ginnie Mae Fund. Portfolio turnover remains elevated at 639% as of July 2025, reflecting active trading strategies amid interest rate environments, while assets under management have grown steadily to $1.84 billion. The fund continues to benchmark against the Bloomberg GNMA Index, focusing on similar overall interest rate risk.