FSMOX is a mutual fund that focuses on investing in high-quality, investment-grade securities that are backed by assets such as mortgages, credit card debt, and other types of loans. This fund, managed by Fidelity Investments, aims to provide investors with a diversified portfolio of securitized assets that offer potential for stable returns and low risk. With a focus on investment-grade securities, FSMOX may be a suitable option for investors seeking a conservative approach to fixed-income investing.