Fidelity Income Fund - Fidelity Simplicity RMD 2020 Fund
FTRWX
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- Fidelity Income Fund - Fidelity Simplicity RMD 2020 Fund (FTRWX) is a target-date mutual fund offered by Fidelity Investments that seeks total return through a combination of current income and capital growth, designed for investors in or near retirement around 2020 who require systematic withdrawals such as required minimum distributions (RMDs). The fund primarily invests in a diversified mix of underlying Fidelity funds, including Fidelity Series Investment Grade Bond Fund (approximately 28%), Fidelity Series 5+ Year Inflation-Protected Bond Index Fund, Fidelity Series Emerging Markets Opportunities Fund, Fidelity Series International Developed Markets Bond Index Fund, Fidelity Series Growth Company Fund, and Fidelity Series Large Cap Stock Fund; it allocates across U.S. equity funds, international equity funds, bond funds, short-term funds, and inflation-protected securities to support a complementary withdrawal strategy while managing risk through a conservative glide path emphasizing fixed income. Headquartered in Boston, Massachusetts, Fidelity Investments, the fund's sponsor and manager, was established in 1946 and operates globally, serving retail and institutional clients across the United States and international markets with a broad range of asset management products. In recent developments, the fund series, including the RMD 2020 share class, maintained positive performance for the fiscal year ending July 31, 2024, with returns ranging from 7.32% to 12.31% across the suite, outperforming composites in several instances due to strong contributions from international equity and fixed income allocations such as Fidelity Series Overseas Fund and Fidelity Series Investment Grade Bond Fund; additionally, portfolio adjustments emphasized overweight positions in long-term U.S. Treasury bonds and Treasury Inflation-Protected Securities amid expectations of moderating U.S. economic growth and interest rates. The fund complements Fidelity's broader Simplicity RMD lineup, which targets post-retirement income needs for varying vintages through 2030 and beyond, with no reported mergers, liquidations, or major reorganizations in the last 1-2 years beyond routine portfolio rebalancing.