Fidelity Intermediate Bond Fund (FTHRX) is an open-end mutual fund managed by Fidelity Investments that seeks a high level of current income through investments in investment-grade debt securities. The fund normally invests at least 80% of its assets in investment-grade bonds of medium and high quality, including U.S. Treasury notes, government bonds, corporate debt, mortgage-backed securities, and repurchase agreements for such securities; it maintains a dollar-weighted average maturity between three and 10 years with overall interest rate risk aligned to the Bloomberg U.S. Intermediate Government/Credit Bond Index; and it allocates across domestic and foreign issuers in various market sectors.
Launched on May 23, 1975, the fund is domiciled in the United States with assets under management of approximately $4.40 billion and serves retail and institutional investors seeking intermediate-term fixed income exposure. It operates primarily in U.S. and global bond markets, with a portfolio heavily weighted toward U.S. bonds (82.82%), non-U.S. bonds (16.03%), and minimal cash holdings. Fidelity Management & Research Company LLC serves as the investment adviser.
In the fiscal year ending August 31, 2025, the fund delivered a total return of 4.75%, slightly outperforming the Bloomberg U.S. Intermediate Government/Credit Bond Index's 4.70% advance net of fees. The fund has demonstrated resilience amid varying interest rate environments, with year-to-date returns of 1.49% and 12-month returns of 4.85% as of late 2025; it features a net expense ratio of 0.44%-0.45%, positioning it competitively within the Intermediate Core Bond category. No major acquisitions, partnerships, or structural changes, such as name changes or reorganizations, have been reported in the last 1-2 years.