Fidelity Government Income
FGOVX
NASDAQ- -
USD
- -
- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- Boston, MA 02109 Boston MA United States of America 02210
- IPO Date
- Jan 2, 1980
- CIK
- 0000751199
- Website
- fidelity.com
- Similar Companies
- Business
- Fidelity Government Income Fund (FGOVX) is an open-end mutual fund managed by Fidelity Management & Research Company LLC that seeks a high level of current income consistent with the preservation of principal by normally investing at least 80% of its assets in U.S. government securities and repurchase agreements for those securities. The fund allocates assets across U.S. Treasury notes and bonds, Treasury Inflation-Protected Securities (TIPS), agency mortgage-backed securities, instruments issued by entities chartered or sponsored by Congress such as Fannie Mae and Freddie Mac (whose securities are neither issued nor guaranteed by the U.S. Treasury), and cash equivalents including Fidelity Cash Central Fund; it emphasizes high credit quality with a focus on government (approximately 50%), agency mortgage-backed (47%), and cash sectors across various maturities and durations averaging around 6 years. FGOVX serves individual and institutional investors seeking fixed-income exposure to the U.S. government bond market, primarily benchmarking against the Bloomberg U.S. Government Index or a blended index incorporating mortgage-backed securities; it features a net expense ratio of 0.44%, monthly dividend distributions yielding around 3.3%, high portfolio turnover of about 393%, and total net assets exceeding $1.6 billion as of late 2025. Launched on April 4, 1979, the fund is domiciled in the United States with portfolio management headquartered in Boston, Massachusetts, as part of Fidelity Investments' extensive lineup of fixed-income products; current co-portfolio managers include Franco Castagliuolo (since December 2009) and Sean Corcoran (since December 2017). In recent years, Fidelity Investments has pursued strategic fund rationalization initiatives, including Board-approved mergers of multiple equity and income funds such as Fidelity Advisor Equity Income Fund into Fidelity Equity Dividend Income Fund and Fidelity Advisor Growth & Income Fund into Fidelity Growth & Income Portfolio, with several completing in 2025 to streamline offerings and enhance shareholder value through lower costs and greater scale; while FGOVX itself has not undergone a merger, these broader efforts reflect Fidelity's ongoing operational optimizations across its mutual fund complex as of mid-2025. The fund continues to adapt its portfolio amid fluctuating interest rates, maintaining allocations to top holdings like United States Treasury Notes (e.g., 1.125% and 0.375% series) and bonds (e.g., 4.375% and 3% series), with approximately 94% in U.S. bonds and 17% cash as of recent reports.