<PAGE> PAGE 1
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007 C010500 5
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011 B00AA01 8-8775
011 C01AA01 BOSTON
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011 C03AA01 02109
013 A00AA01 COOPERS & LYBRAND L.L.P.
013 B01AA01 BOSTON
013 B02AA01 MA
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014 A00AA01 FIDELITY BROKERAGE SERVICES, INC.
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<PAGE> PAGE 2
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019 C00AA00 FIDELITYZZ
020 A000001 FRIEDMAN BILLINGS RAMSEY & CO INC
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<PAGE> PAGE 3
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<PAGE> PAGE 4
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<PAGE> PAGE 5
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<PAGE> PAGE 6
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<PAGE> PAGE 7
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<PAGE> PAGE 8
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<PAGE> PAGE 9
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<PAGE> PAGE 10
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<PAGE> PAGE 11
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<PAGE> PAGE 12
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<PAGE> PAGE 13
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<PAGE> PAGE 14
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<PAGE> PAGE 15
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<PAGE> PAGE 16
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<PAGE> PAGE 17
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<PAGE> PAGE 18
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<PAGE> PAGE 19
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<PAGE> PAGE 20
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SIGNATURE JOHN H. COSTELLO
TITLE ASSISTANT TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000719451
<NAME> Fidelity Advisor Series IV
<SERIES>
<NUMBER> 14
<NAME> Fidelity Advisor Intermediate Bond Fund Class
A
<MULTIPLIER> 1,000
<S>
<C>
<PERIOD-TYPE>
6-mos
<FISCAL-YEAR-END>
Nov-30-1997
<PERIOD-END>
May-31-1997
<INVESTMENTS-AT-COST>
467,171
<INVESTMENTS-AT-VALUE>
464,576
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7,320
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5
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0
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471,901
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104
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0
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1,042
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1,146
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0
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491,398
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176
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65
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0
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1,900
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(16,149)
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0
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(2,594)
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470,755
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0
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16,856
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0
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2,042
<NET-INVESTMENT-INCOME>
14,814
<REALIZED-GAINS-CURRENT>
(1,891)
<APPREC-INCREASE-CURRENT>
(8,170)
<NET-CHANGE-FROM-OPS>
4,753
<EQUALIZATION>
0
<DISTRIBUTIONS-OF-INCOME>
34
<DISTRIBUTIONS-OF-GAINS>
0
<DISTRIBUTIONS-OTHER>
0
<NUMBER-OF-SHARES-SOLD>
176
<NUMBER-OF-SHARES-REDEEMED>
68
<SHARES-REINVESTED>
3
<NET-CHANGE-IN-ASSETS>
(22,873)
<ACCUMULATED-NII-PRIOR>
0
<ACCUMULATED-GAINS-PRIOR>
(14,257)
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2,017
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0
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1,048
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0
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2,083
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1,105
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10.590
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.318
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(.208)
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(.320)
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0
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0
<PER-SHARE-NAV-END>
10.380
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90
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0
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0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000719451
<NAME> Fidelity Advisor Series IV
<SERIES>
<NUMBER> 12
<NAME> Fidelity Advisor Intermediate Bond Fund Class
B
<MULTIPLIER> 1,000
<S>
<C>
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6-mos
<FISCAL-YEAR-END>
Nov-30-1997
<PERIOD-END>
May-31-1997
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467,171
<INVESTMENTS-AT-VALUE>
464,576
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7,320
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5
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0
<TOTAL-ASSETS>
471,901
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104
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0
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1,042
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1,146
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0
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491,398
<SHARES-COMMON-STOCK>
1,874
<SHARES-COMMON-PRIOR>
1,791
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0
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1,900
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(16,149)
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0
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(2,594)
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470,755
<DIVIDEND-INCOME>
0
<INTEREST-INCOME>
16,856
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0
<EXPENSES-NET>
2,042
<NET-INVESTMENT-INCOME>
14,814
<REALIZED-GAINS-CURRENT>
(1,891)
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(8,170)
<NET-CHANGE-FROM-OPS>
4,753
<EQUALIZATION>
0
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506
<DISTRIBUTIONS-OF-GAINS>
0
<DISTRIBUTIONS-OTHER>
0
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414
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368
<SHARES-REINVESTED>
37
<NET-CHANGE-IN-ASSETS>
(22,873)
<ACCUMULATED-NII-PRIOR>
0
<ACCUMULATED-GAINS-PRIOR>
(14,257)
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2,017
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0
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1,048
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0
<GROSS-EXPENSE>
2,083
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18,726
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10.590
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.283
<PER-SHARE-GAIN-APPREC>
(.211)
<PER-SHARE-DIVIDEND>
(.282)
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0
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0
<PER-SHARE-NAV-END>
10.380
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165
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0
<AVG-DEBT-PER-SHARE>
0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000719451
<NAME> Fidelity Advisor Series IV
<SERIES>
<NUMBER> 13
<NAME> Fidelity Advisor Intermediate Bond Fund Class
I
<MULTIPLIER> 1,000
<S>
<C>
<PERIOD-TYPE>
6-mos
<FISCAL-YEAR-END>
Nov-30-1997
<PERIOD-END>
May-31-1997
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467,171
<INVESTMENTS-AT-VALUE>
464,576
<RECEIVABLES>
7,320
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5
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0
<TOTAL-ASSETS>
471,901
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104
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0
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1,042
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1,146
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0
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491,398
<SHARES-COMMON-STOCK>
18,443
<SHARES-COMMON-PRIOR>
19,955
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0
<OVERDISTRIBUTION-NII>
1,900
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(16,149)
<OVERDISTRIBUTION-GAINS>
0
<ACCUM-APPREC-OR-DEPREC>
(2,594)
<NET-ASSETS>
470,755
<DIVIDEND-INCOME>
0
<INTEREST-INCOME>
16,856
<OTHER-INCOME>
0
<EXPENSES-NET>
2,042
<NET-INVESTMENT-INCOME>
14,814
<REALIZED-GAINS-CURRENT>
(1,891)
<APPREC-INCREASE-CURRENT>
(8,170)
<NET-CHANGE-FROM-OPS>
4,753
<EQUALIZATION>
0
<DISTRIBUTIONS-OF-INCOME>
6,356
<DISTRIBUTIONS-OF-GAINS>
0
<DISTRIBUTIONS-OTHER>
0
<NUMBER-OF-SHARES-SOLD>
2,319
<NUMBER-OF-SHARES-REDEEMED>
4,085
<SHARES-REINVESTED>
255
<NET-CHANGE-IN-ASSETS>
(22,873)
<ACCUMULATED-NII-PRIOR>
0
<ACCUMULATED-GAINS-PRIOR>
(14,257)
<OVERDISTRIB-NII-PRIOR>
2,017
<OVERDIST-NET-GAINS-PRIOR>
0
<GROSS-ADVISORY-FEES>
1,048
<INTEREST-EXPENSE>
0
<GROSS-EXPENSE>
2,083
<AVERAGE-NET-ASSETS>
199,200
<PER-SHARE-NAV-BEGIN>
10.620
<PER-SHARE-NII>
.334
<PER-SHARE-GAIN-APPREC>
(.220)
<PER-SHARE-DIVIDEND>
(.334)
<PER-SHARE-DISTRIBUTIONS>
0
<RETURNS-OF-CAPITAL>
0
<PER-SHARE-NAV-END>
10.400
<EXPENSE-RATIO>
67
<AVG-DEBT-OUTSTANDING>
0
<AVG-DEBT-PER-SHARE>
0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000719451
<NAME> Fidelity Advisor Series IV
<SERIES>
<NUMBER> 11
<NAME> Fidelity Advisor Intermediate Bond Fund Class
T
<MULTIPLIER> 1,000
<S>
<C>
<PERIOD-TYPE>
6-mos
<FISCAL-YEAR-END>
Nov-30-1997
<PERIOD-END>
May-31-1997
<INVESTMENTS-AT-COST>
467,171
<INVESTMENTS-AT-VALUE>
464,576
<RECEIVABLES>
7,320
<ASSETS-OTHER>
5
<OTHER-ITEMS-ASSETS>
0
<TOTAL-ASSETS>
471,901
<PAYABLE-FOR-SECURITIES>
104
<SENIOR-LONG-TERM-DEBT>
0
<OTHER-ITEMS-LIABILITIES>
1,042
<TOTAL-LIABILITIES>
1,146
<SENIOR-EQUITY>
0
<PAID-IN-CAPITAL-COMMON>
491,398
<SHARES-COMMON-STOCK>
24,789
<SHARES-COMMON-PRIOR>
24,704
<ACCUMULATED-NII-CURRENT>
0
<OVERDISTRIBUTION-NII>
1,900
<ACCUMULATED-NET-GAINS>
(16,149)
<OVERDISTRIBUTION-GAINS>
0
<ACCUM-APPREC-OR-DEPREC>
(2,594)
<NET-ASSETS>
470,755
<DIVIDEND-INCOME>
0
<INTEREST-INCOME>
16,856
<OTHER-INCOME>
0
<EXPENSES-NET>
2,042
<NET-INVESTMENT-INCOME>
14,814
<REALIZED-GAINS-CURRENT>
(1,891)
<APPREC-INCREASE-CURRENT>
(8,170)
<NET-CHANGE-FROM-OPS>
4,753
<EQUALIZATION>
0
<DISTRIBUTIONS-OF-INCOME>
7,801
<DISTRIBUTIONS-OF-GAINS>
0
<DISTRIBUTIONS-OTHER>
0
<NUMBER-OF-SHARES-SOLD>
6,369
<NUMBER-OF-SHARES-REDEEMED>
6,963
<SHARES-REINVESTED>
680
<NET-CHANGE-IN-ASSETS>
(22,873)
<ACCUMULATED-NII-PRIOR>
0
<ACCUMULATED-GAINS-PRIOR>
(14,257)
<OVERDISTRIB-NII-PRIOR>
2,017
<OVERDIST-NET-GAINS-PRIOR>
0
<GROSS-ADVISORY-FEES>
1,048
<INTEREST-EXPENSE>
0
<GROSS-EXPENSE>
2,083
<AVERAGE-NET-ASSETS>
255,408
<PER-SHARE-NAV-BEGIN>
10.610
<PER-SHARE-NII>
.320
<PER-SHARE-GAIN-APPREC>
(.221)
<PER-SHARE-DIVIDEND>
(.319)
<PER-SHARE-DISTRIBUTIONS>
0
<RETURNS-OF-CAPITAL>
0
<PER-SHARE-NAV-END>
10.390
<EXPENSE-RATIO>
96
<AVG-DEBT-OUTSTANDING>
0
<AVG-DEBT-PER-SHARE>
0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000719451
<NAME> Fidelity Advisor Series IV
<SERIES>
<NUMBER> 21
<NAME> Fidelity Institutional Short-Intermediate Government Fund
<MULTIPLIER> 1,000
<S>
<C>
<PERIOD-TYPE>
6-mos
<FISCAL-YEAR-END>
Nov-30-1997
<PERIOD-END>
May-31-1997
<INVESTMENTS-AT-COST>
344,699
<INVESTMENTS-AT-VALUE>
344,063
<RECEIVABLES>
3,567
<ASSETS-OTHER>
0
<OTHER-ITEMS-ASSETS>
0
<TOTAL-ASSETS>
347,630
<PAYABLE-FOR-SECURITIES>
0
<SENIOR-LONG-TERM-DEBT>
0
<OTHER-ITEMS-LIABILITIES>
549
<TOTAL-LIABILITIES>
549
<SENIOR-EQUITY>
0
<PAID-IN-CAPITAL-COMMON>
369,649
<SHARES-COMMON-STOCK>
37,179
<SHARES-COMMON-PRIOR>
35,486
<ACCUMULATED-NII-CURRENT>
476
<OVERDISTRIBUTION-NII>
0
<ACCUMULATED-NET-GAINS>
(22,408)
<OVERDISTRIBUTION-GAINS>
0
<ACCUM-APPREC-OR-DEPREC>
(636)
<NET-ASSETS>
347,081
<DIVIDEND-INCOME>
0
<INTEREST-INCOME>
12,382
<OTHER-INCOME>
0
<EXPENSES-NET>
739
<NET-INVESTMENT-INCOME>
11,643
<REALIZED-GAINS-CURRENT>
(118)
<APPREC-INCREASE-CURRENT>
(5,694)
<NET-CHANGE-FROM-OPS>
5,831
<EQUALIZATION>
0
<DISTRIBUTIONS-OF-INCOME>
11,697
<DISTRIBUTIONS-OF-GAINS>
0
<DISTRIBUTIONS-OTHER>
0
<NUMBER-OF-SHARES-SOLD>
8,578
<NUMBER-OF-SHARES-REDEEMED>
8,040
<SHARES-REINVESTED>
1,155
<NET-CHANGE-IN-ASSETS>
9,950
<ACCUMULATED-NII-PRIOR>
559
<ACCUMULATED-GAINS-PRIOR>
(22,290)
<OVERDISTRIB-NII-PRIOR>
0
<OVERDIST-NET-GAINS-PRIOR>
0
<GROSS-ADVISORY-FEES>
759
<INTEREST-EXPENSE>
0
<GROSS-EXPENSE>
763
<AVERAGE-NET-ASSETS>
338,949
<PER-SHARE-NAV-BEGIN>
9.500
<PER-SHARE-NII>
.322
<PER-SHARE-GAIN-APPREC>
(.159)
<PER-SHARE-DIVIDEND>
(.323)
<PER-SHARE-DISTRIBUTIONS>
0
<RETURNS-OF-CAPITAL>
0
<PER-SHARE-NAV-END>
9.340
<EXPENSE-RATIO>
45
<AVG-DEBT-OUTSTANDING>
0
<AVG-DEBT-PER-SHARE>
0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000719451
<NAME> Fidelity Advisor Series IV
<SERIES>
<NUMBER> 31
<NAME> Fidelity Real Estate High Income Fund
<MULTIPLIER> 1,000
<S>
<C>
<PERIOD-TYPE>
6-mos
<FISCAL-YEAR-END>
Nov-30-1997
<PERIOD-END>
May-31-1997
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41,977
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44,668
<RECEIVABLES>
393
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1,172
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0
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46,233
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1,708
<SENIOR-LONG-TERM-DEBT>
0
<OTHER-ITEMS-LIABILITIES>
83
<TOTAL-LIABILITIES>
1,791
<SENIOR-EQUITY>
0
<PAID-IN-CAPITAL-COMMON>
37,913
<SHARES-COMMON-STOCK>
3,837
<SHARES-COMMON-PRIOR>
4,870
<ACCUMULATED-NII-CURRENT>
81
<OVERDISTRIBUTION-NII>
0
<ACCUMULATED-NET-GAINS>
3,742
<OVERDISTRIBUTION-GAINS>
0
<ACCUM-APPREC-OR-DEPREC>
2,706
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44,442
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22
<INTEREST-INCOME>
2,371
<OTHER-INCOME>
0
<EXPENSES-NET>
227
<NET-INVESTMENT-INCOME>
2,166
<REALIZED-GAINS-CURRENT>
4,801
<APPREC-INCREASE-CURRENT>
(1,738)
<NET-CHANGE-FROM-OPS>
5,229
<EQUALIZATION>
0
<DISTRIBUTIONS-OF-INCOME>
3,822
<DISTRIBUTIONS-OF-GAINS>
2,664
<DISTRIBUTIONS-OTHER>
0
<NUMBER-OF-SHARES-SOLD>
557
<NUMBER-OF-SHARES-REDEEMED>
1,657
<SHARES-REINVESTED>
66
<NET-CHANGE-IN-ASSETS>
(13,254)
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1,737
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2,668
<OVERDISTRIB-NII-PRIOR>
0
<OVERDIST-NET-GAINS-PRIOR>
0
<GROSS-ADVISORY-FEES>
166
<INTEREST-EXPENSE>
0
<GROSS-EXPENSE>
230
<AVERAGE-NET-ASSETS>
44,818
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11.850
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.550
<PER-SHARE-GAIN-APPREC>
941,374.820
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941,375.000
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.640
<RETURNS-OF-CAPITAL>
0
<PER-SHARE-NAV-END>
11.580
<EXPENSE-RATIO>
103
<AVG-DEBT-OUTSTANDING>
0
<AVG-DEBT-PER-SHARE>
0
</TABLE>
