Fidelity Money Market - FDCXX

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BostonButterfly
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Fidelity Money Market - FDCXX

Post by BostonButterfly » Tue Oct 03, 2017 2:05 pm

I am trying to sell FDCXX in order to purchase Fidelity Total Market Index Fund FSTVX. When I try to place the sell order, warnings come up about fund imposed fees, including short term redemption fees and back end loads. Also states a sales charge of up to 1% may apply.

When I look at the prospectus, it states:

Maximum contingent deferred sales charge (as a % of the lesser of original purchase price or redemption proceeds) 1.00%
On Class C shares redeemed less than one year after purchase.


Is this statement in the prospectus what the warning is about? Since I have held this money in FDCXX for over one year, I won't be charged the 1%. Do I understand correctly? Am I missing anything that will surprise me when the sell order is executed?

thanks!

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Toons
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Re: Fidelity Money Market - FDCXX

Post by Toons » Tue Oct 03, 2017 2:25 pm

Looks like FDCXX is a class c share fund.
Class A and B have front end loads (Sales Charge)

"A C-share is a class of mutual fund with a level load. Class C shares tend to not have front-end loads, but they often carry small back-end loads. These loads are typically around 1% and may vanish once the investor has held the shares of the mutual fund for a year.'' :happy
"One does not accumulate but eliminate. It is not daily increase but daily decrease. The height of cultivation always runs to simplicity" –Bruce Lee

BostonButterfly
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Re: Fidelity Money Market - FDCXX

Post by BostonButterfly » Tue Oct 03, 2017 4:09 pm

Thanks, Toons. I'll post what ends up happening, for anyone's future reference.

sport
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Re: Fidelity Money Market - FDCXX

Post by sport » Tue Oct 03, 2017 4:11 pm

You should note that Vanguard does not have class A, class B, or class C shares. All their funds are no-load.

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welderwannabe
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Re: Fidelity Money Market - FDCXX

Post by welderwannabe » Tue Oct 03, 2017 4:14 pm

Wow, FDCXX is one awful looking money market. If you want to use a Fidelity money market take a look at FZFXX or SPRXX.
I am not an investment professional, but I did stay at a Holiday Inn Express last night.

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Toons
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Re: Fidelity Money Market - FDCXX

Post by Toons » Tue Oct 03, 2017 4:20 pm

BostonButterfly wrote:
Tue Oct 03, 2017 4:09 pm
Thanks, Toons. I'll post what ends up happening, for anyone's future reference.
:thumbsup :happy
"One does not accumulate but eliminate. It is not daily increase but daily decrease. The height of cultivation always runs to simplicity" –Bruce Lee

mega317
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Re: Fidelity Money Market - FDCXX

Post by mega317 » Tue Oct 03, 2017 4:40 pm

I have once sold funds with Fidelity and gotten a warning like that. Since the condition didn't apply to me I went ahead with the sale and wasn't charged anything. Don't know if that's reassuring at all.

BostonButterfly
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Re: Fidelity Money Market - FDCXX

Post by BostonButterfly » Tue Oct 03, 2017 6:33 pm

welderwannabe wrote:
Tue Oct 03, 2017 4:14 pm
Wow, FDCXX is one awful looking money market. If you want to use a Fidelity money market take a look at FZFXX or SPRXX.
This was yet another lovely choice of my now EX-financial advisor. Firing the advisor has been such an eye opening, learning experience. Live and learn. The hard way.

BostonButterfly
Posts: 54
Joined: Tue Jun 06, 2017 11:49 am
Location: Boston

Re: Fidelity Money Market - FDCXX

Post by BostonButterfly » Thu Oct 05, 2017 10:46 am

Just to wrap this up......When I sold FDCXX, I was not charged any fees/back-end load/etc.
I did hold this investment for over one year.

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