Look at Fidelity Advisor High Income Advantage I Fund (FAHCX)

Fidelity Advisor High Income Advantage I Fund (FAHCX - Free Report) seeks a combination of a high level of income and the potential for capital gains. FAHCX normally invests at least 65% of total assets in income-producing debt securities, preferred stocks and convertible securities, with an emphasis on lower quality debt securities. The management may invest up to 35% of FAHCX's total assets in common stocks. FAHCX may also invest in companies in troubled or uncertain financial condition.

This High Yield Bond product has a history of positive total returns for over 10 years. Specifically, the fund’s returns over the 3, 5 year benchmarks; 3 year 5.4% and 5 year 7.9%. To see how this fund performed compared in its category, and other #1 and #2 Ranked Mutual Funds, please click here.

FAHCX’s performance, as of the last filing, when compared to funds in its category was in the top 4% over the past 1 year, and in the top 1% over the past 3 years and in the top 1% over the past 5 years.

This Zacks Rank #2 (Buy) was created in January 1987 and is managed by Fidelity. FAHCX carries an expense ratio of 0.80% and requires a minimal initial investment of $2,500.