The fund aims to provide a substantial level of ongoing income. It typically commits at least 80% of its capital to a broad spectrum of debt instruments, including related repurchase agreements, which Fidelity Management & Research Company LLC (the Adviser) has identified as having positive environmental, social, and governance (ESG) characteristics. Up to 20% of the portfolio may be invested in debt securities with ratings below investment grade, commonly known as high-yield or "junk" bonds.