Fidelity Advisor Energy A

The management team at Fidelity Select Energy Portfolio and Fidelity Advisor Energy is evolving, but it remains solid. The strategy remains a worthwhile source of exposure to its target sector. Morningstar has enhanced the way we assess alpha opportunity for funds, which is a key component in our Morningstar Medalist Rating calculation. Some of this strategy’s Medalist Ratings have changed with this update even in the absence of changes to pillar ratings or a significant change in fund costs.