Fidelity Health Savings Fund Class K
FHLKX
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- Fidelity Health Savings Fund Class K (FHLKX) is a mutual fund offered by Fidelity Investments that seeks total return by investing primarily in a combination of actively and passively managed securities to assist investors in saving for future eligible medical expenses through Health Savings Accounts (HSAs). The fund allocates assets across U.S. bonds (approximately 33.81%), non-U.S. stocks (17.74%), U.S. stocks (17.32%), non-U.S. bonds (16.63%), cash (10.16%), and other assets; top holdings include Fidelity International Bond Index Fund, Fidelity Inv Grd Bd Ctrl, Fidelity US Bond Index Fund, Fidelity Short-Term Bond Fund, and Fidelity Cash Central Fund, with sector exposures in technology, financial services, industrials, and consumer cyclical. It features a net expense ratio of 0.39%, daily pricing, and no minimum initial investment, targeting investors in HSA-eligible high-deductible health plans with a moderately conservative allocation style blending large-cap equities and high-quality bonds. Launched on March 2, 2020, the fund is managed by Avishek Hazrachoudhury since inception and Hongshu Chen since May 1, 2023, and operates from Fidelity's headquarters in Boston, Massachusetts, serving U.S. investors through employer-sponsored or individual HSAs. In recent developments, Fidelity Investments reported record-high HSA assets of $24 billion as of April 2024, a 44% increase year-over-year, positioning it as the second-largest HSA provider amid growing adoption for tax-advantaged medical savings and investing. The fund maintains steady operations with assets under management around $61-67 million, low turnover of 46%, and a Morningstar Medalist Rating upgraded to Bronze due to Process Pillar improvements, reflecting no major mergers, acquisitions, or strategic shifts specific to FHLKX in the last 1-2 years.