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<PAGE> PAGE 13
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<PAGE> PAGE 17
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<PAGE> PAGE 20
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014 A000401 FIDELITY BROKERAGE SERVICES, INC.
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014 A000402 FIDELITY DISTRIBUTORS CORPORATION
014 B000402 8-8775
014 A000403 FIDELITY BROKERAGE SERVICES
014 B000403 8-0000
015 A000401 UMB BANK, NA
015 B000401 C
015 C010401 KANSAS CITY
015 C020401 MO
015 C030401 64106
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024 000400 N
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<PAGE> PAGE 21
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<PAGE> PAGE 22
062 C000400 0.0
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066 A000400 N
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070 D020400 N
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070 E020400 Y
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070 F020400 N
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070 H010400 N
070 H020400 N
070 I010400 N
070 I020400 N
070 J010400 Y
070 J020400 N
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070 L020400 N
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<PAGE> PAGE 23
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<PAGE> PAGE 24
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SIGNATURE JOHN H. COSTELLO
TITLE ASST. TREASURER
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<SENIOR-LONG-TERM-DEBT>
0
<OTHER-ITEMS-LIABILITIES>
1,798
<TOTAL-LIABILITIES>
16,203
<SENIOR-EQUITY>
0
<PAID-IN-CAPITAL-COMMON>
537,961
<SHARES-COMMON-STOCK>
79
<SHARES-COMMON-PRIOR>
13
<ACCUMULATED-NII-CURRENT>
864
<OVERDISTRIBUTION-NII>
0
<ACCUMULATED-NET-GAINS>
(18,326)
<OVERDISTRIBUTION-GAINS>
0
<ACCUM-APPREC-OR-DEPREC>
451
<NET-ASSETS>
520,950
<DIVIDEND-INCOME>
0
<INTEREST-INCOME>
37,944
<OTHER-INCOME>
0
<EXPENSES-NET>
5,367
<NET-INVESTMENT-INCOME>
32,577
<REALIZED-GAINS-CURRENT>
(5,992)
<APPREC-INCREASE-CURRENT>
(1,725)
<NET-CHANGE-FROM-OPS>
24,860
<EQUALIZATION>
0
<DISTRIBUTIONS-OF-INCOME>
47
<DISTRIBUTIONS-OF-GAINS>
0
<DISTRIBUTIONS-OTHER>
0
<NUMBER-OF-SHARES-SOLD>
141
<NUMBER-OF-SHARES-REDEEMED>
78
<SHARES-REINVESTED>
3
<NET-CHANGE-IN-ASSETS>
(76,731)
<ACCUMULATED-NII-PRIOR>
0
<ACCUMULATED-GAINS-PRIOR>
(12,218)
<OVERDISTRIB-NII-PRIOR>
0
<OVERDIST-NET-GAINS-PRIOR>
0
<GROSS-ADVISORY-FEES>
2,267
<INTEREST-EXPENSE>
0
<GROSS-EXPENSE>
5,407
<AVERAGE-NET-ASSETS>
808
<PER-SHARE-NAV-BEGIN>
11.880
<PER-SHARE-NII>
.707
<PER-SHARE-GAIN-APPREC>
(.197)
<PER-SHARE-DIVIDEND>
.670
<PER-SHARE-DISTRIBUTIONS>
0
<RETURNS-OF-CAPITAL>
0
<PER-SHARE-NAV-END>
11.720
<EXPENSE-RATIO>
75
<AVG-DEBT-OUTSTANDING>
0
<AVG-DEBT-PER-SHARE>
0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000803013
<NAME> Fidelity Advisor Series V
<SERIES>
<NUMBER> 11
<NAME> Advisor High Income Municipal Fund - Class T
<MULTIPLIER> 1,000
<S>
<C>
<PERIOD-TYPE>
year
<FISCAL-YEAR-END>
oct-31-1996
<PERIOD-END>
oct-31-1996
<INVESTMENTS-AT-COST>
520,241
<INVESTMENTS-AT-VALUE>
520,692
<RECEIVABLES>
16,444
<ASSETS-OTHER>
17
<OTHER-ITEMS-ASSETS>
0
<TOTAL-ASSETS>
537,153
<PAYABLE-FOR-SECURITIES>
14,405
<SENIOR-LONG-TERM-DEBT>
0
<OTHER-ITEMS-LIABILITIES>
1,798
<TOTAL-LIABILITIES>
16,203
<SENIOR-EQUITY>
0
<PAID-IN-CAPITAL-COMMON>
537,961
<SHARES-COMMON-STOCK>
40,866
<SHARES-COMMON-PRIOR>
47,577
<ACCUMULATED-NII-CURRENT>
864
<OVERDISTRIBUTION-NII>
0
<ACCUMULATED-NET-GAINS>
(18,326)
<OVERDISTRIBUTION-GAINS>
0
<ACCUM-APPREC-OR-DEPREC>
451
<NET-ASSETS>
520,950
<DIVIDEND-INCOME>
0
<INTEREST-INCOME>
37,944
<OTHER-INCOME>
0
<EXPENSES-NET>
5,367
<NET-INVESTMENT-INCOME>
32,577
<REALIZED-GAINS-CURRENT>
(5,992)
<APPREC-INCREASE-CURRENT>
(1,725)
<NET-CHANGE-FROM-OPS>
24,860
<EQUALIZATION>
0
<DISTRIBUTIONS-OF-INCOME>
29,847
<DISTRIBUTIONS-OF-GAINS>
0
<DISTRIBUTIONS-OTHER>
0
<NUMBER-OF-SHARES-SOLD>
6,540
<NUMBER-OF-SHARES-REDEEMED>
14,848
<SHARES-REINVESTED>
1,597
<NET-CHANGE-IN-ASSETS>
(76,731)
<ACCUMULATED-NII-PRIOR>
0
<ACCUMULATED-GAINS-PRIOR>
(12,218)
<OVERDISTRIB-NII-PRIOR>
0
<OVERDIST-NET-GAINS-PRIOR>
0
<GROSS-ADVISORY-FEES>
2,267
<INTEREST-EXPENSE>
0
<GROSS-EXPENSE>
5,407
<AVERAGE-NET-ASSETS>
534,105
<PER-SHARE-NAV-BEGIN>
11.880
<PER-SHARE-NII>
.677
<PER-SHARE-GAIN-APPREC>
(.136)
<PER-SHARE-DIVIDEND>
.661
<PER-SHARE-DISTRIBUTIONS>
0
<RETURNS-OF-CAPITAL>
0
<PER-SHARE-NAV-END>
11.760
<EXPENSE-RATIO>
89
<AVG-DEBT-OUTSTANDING>
0
<AVG-DEBT-PER-SHARE>
0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000803013
<NAME> Fidelity Advisor Series V
<SERIES>
<NUMBER> 41
<NAME> Fidelity Advisor California Municipal Income
Fund
<MULTIPLIER> 1,000
<S>
<C>
<PERIOD-TYPE>
year
<FISCAL-YEAR-END>
oct-31-1996
<PERIOD-END>
oct-31-1996
<INVESTMENTS-AT-COST>
4,671
<INVESTMENTS-AT-VALUE>
4,710
<RECEIVABLES>
198
<ASSETS-OTHER>
59
<OTHER-ITEMS-ASSETS>
0
<TOTAL-ASSETS>
4,967
<PAYABLE-FOR-SECURITIES>
93
<SENIOR-LONG-TERM-DEBT>
0
<OTHER-ITEMS-LIABILITIES>
41
<TOTAL-LIABILITIES>
134
<SENIOR-EQUITY>
0
<PAID-IN-CAPITAL-COMMON>
4,799
<SHARES-COMMON-STOCK>
226
<SHARES-COMMON-PRIOR>
0
<ACCUMULATED-NII-CURRENT>
0
<OVERDISTRIBUTION-NII>
0
<ACCUMULATED-NET-GAINS>
(1)
<OVERDISTRIBUTION-GAINS>
0
<ACCUM-APPREC-OR-DEPREC>
35
<NET-ASSETS>
4,833
<DIVIDEND-INCOME>
0
<INTEREST-INCOME>
119
<OTHER-INCOME>
0
<EXPENSES-NET>
21
<NET-INVESTMENT-INCOME>
98
<REALIZED-GAINS-CURRENT>
0
<APPREC-INCREASE-CURRENT>
35
<NET-CHANGE-FROM-OPS>
133
<EQUALIZATION>
0
<DISTRIBUTIONS-OF-INCOME>
32
<DISTRIBUTIONS-OF-GAINS>
0
<DISTRIBUTIONS-OTHER>
0
<NUMBER-OF-SHARES-SOLD>
248
<NUMBER-OF-SHARES-REDEEMED>
24
<SHARES-REINVESTED>
2
<NET-CHANGE-IN-ASSETS>
4,833
<ACCUMULATED-NII-PRIOR>
0
<ACCUMULATED-GAINS-PRIOR>
0
<OVERDISTRIB-NII-PRIOR>
0
<OVERDIST-NET-GAINS-PRIOR>
0
<GROSS-ADVISORY-FEES>
9
<INTEREST-EXPENSE>
0
<GROSS-EXPENSE>
142
<AVERAGE-NET-ASSETS>
1196
<PER-SHARE-NAV-BEGIN>
10.00
<PER-SHARE-NII>
.261
<PER-SHARE-GAIN-APPREC>
(.080)
<PER-SHARE-DIVIDEND>
.261
<PER-SHARE-DISTRIBUTIONS>
0
<RETURNS-OF-CAPITAL>
0
<PER-SHARE-NAV-END>
9.920
<EXPENSE-RATIO>
87
<AVG-DEBT-OUTSTANDING>
0
<AVG-DEBT-PER-SHARE>
0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000803013
<NAME> Fidelity Advisor Series V
<SERIES>
<NUMBER> 42
<NAME> Fidelity Advisor California Municipal Income Fund
<MULTIPLIER> 1,000
<S>
<C>
<PERIOD-TYPE>
year
<FISCAL-YEAR-END>
oct-31-1996
<PERIOD-END>
oct-31-1996
<INVESTMENTS-AT-COST>
4,671
<INVESTMENTS-AT-VALUE>
4,710
<RECEIVABLES>
198
<ASSETS-OTHER>
59
<OTHER-ITEMS-ASSETS>
0
<TOTAL-ASSETS>
4,967
<PAYABLE-FOR-SECURITIES>
93
<SENIOR-LONG-TERM-DEBT>
0
<OTHER-ITEMS-LIABILITIES>
41
<TOTAL-LIABILITIES>
134
<SENIOR-EQUITY>
0
<PAID-IN-CAPITAL-COMMON>
4,799
<SHARES-COMMON-STOCK>
65
<SHARES-COMMON-PRIOR>
0
<ACCUMULATED-NII-CURRENT>
0
<OVERDISTRIBUTION-NII>
0
<ACCUMULATED-NET-GAINS>
(1)
<OVERDISTRIBUTION-GAINS>
0
<ACCUM-APPREC-OR-DEPREC>
35
<NET-ASSETS>
4,833
<DIVIDEND-INCOME>
0
<INTEREST-INCOME>
119
<OTHER-INCOME>
0
<EXPENSES-NET>
21
<NET-INVESTMENT-INCOME>
98
<REALIZED-GAINS-CURRENT>
0
<APPREC-INCREASE-CURRENT>
35
<NET-CHANGE-FROM-OPS>
133
<EQUALIZATION>
0
<DISTRIBUTIONS-OF-INCOME>
10
<DISTRIBUTIONS-OF-GAINS>
0
<DISTRIBUTIONS-OTHER>
0
<NUMBER-OF-SHARES-SOLD>
64
<NUMBER-OF-SHARES-REDEEMED>
0
<SHARES-REINVESTED>
1
<NET-CHANGE-IN-ASSETS>
4,833
<ACCUMULATED-NII-PRIOR>
0
<ACCUMULATED-GAINS-PRIOR>
0
<OVERDISTRIB-NII-PRIOR>
0
<OVERDIST-NET-GAINS-PRIOR>
0
<GROSS-ADVISORY-FEES>
9
<INTEREST-EXPENSE>
0
<GROSS-EXPENSE>
142
<AVERAGE-NET-ASSETS>
415
<PER-SHARE-NAV-BEGIN>
10.00
<PER-SHARE-NII>
.229
<PER-SHARE-GAIN-APPREC>
(.100)
<PER-SHARE-DIVIDEND>
.229
<PER-SHARE-DISTRIBUTIONS>
0
<RETURNS-OF-CAPITAL>
0
<PER-SHARE-NAV-END>
9.900
<EXPENSE-RATIO>
162
<AVG-DEBT-OUTSTANDING>
0
<AVG-DEBT-PER-SHARE>
0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000803013
<NAME> Fidelity Advisor Series V
<SERIES>
<NUMBER> 43
<NAME> Fidelity Advisor California Municipal Income Fund
<MULTIPLIER> 1,000
<S>
<C>
<PERIOD-TYPE>
year
<FISCAL-YEAR-END>
oct-31-1996
<PERIOD-END>
oct-31-1996
<INVESTMENTS-AT-COST>
4,671
<INVESTMENTS-AT-VALUE>
4,710
<RECEIVABLES>
198
<ASSETS-OTHER>
59
<OTHER-ITEMS-ASSETS>
0
<TOTAL-ASSETS>
4,967
<PAYABLE-FOR-SECURITIES>
93
<SENIOR-LONG-TERM-DEBT>
0
<OTHER-ITEMS-LIABILITIES>
41
<TOTAL-LIABILITIES>
134
<SENIOR-EQUITY>
0
<PAID-IN-CAPITAL-COMMON>
4,799
<SHARES-COMMON-STOCK>
186
<SHARES-COMMON-PRIOR>
0
<ACCUMULATED-NII-CURRENT>
0
<OVERDISTRIBUTION-NII>
0
<ACCUMULATED-NET-GAINS>
(1)
<OVERDISTRIBUTION-GAINS>
0
<ACCUM-APPREC-OR-DEPREC>
35
<NET-ASSETS>
4,833
<DIVIDEND-INCOME>
0
<INTEREST-INCOME>
119
<OTHER-INCOME>
0
<EXPENSES-NET>
21
<NET-INVESTMENT-INCOME>
98
<REALIZED-GAINS-CURRENT>
0
<APPREC-INCREASE-CURRENT>
35
<NET-CHANGE-FROM-OPS>
133
<EQUALIZATION>
0
<DISTRIBUTIONS-OF-INCOME>
55
<DISTRIBUTIONS-OF-GAINS>
0
<DISTRIBUTIONS-OTHER>
0
<NUMBER-OF-SHARES-SOLD>
180
<NUMBER-OF-SHARES-REDEEMED>
0
<SHARES-REINVESTED>
6
<NET-CHANGE-IN-ASSETS>
4,833
<ACCUMULATED-NII-PRIOR>
0
<ACCUMULATED-GAINS-PRIOR>
0
<OVERDISTRIB-NII-PRIOR>
0
<OVERDIST-NET-GAINS-PRIOR>
0
<GROSS-ADVISORY-FEES>
9
<INTEREST-EXPENSE>
0
<GROSS-EXPENSE>
142
<AVERAGE-NET-ASSETS>
1774
<PER-SHARE-NAV-BEGIN>
10.00
<PER-SHARE-NII>
.307
<PER-SHARE-GAIN-APPREC>
(.090)
<PER-SHARE-DIVIDEND>
.307
<PER-SHARE-DISTRIBUTIONS>
0
<RETURNS-OF-CAPITAL>
0
<PER-SHARE-NAV-END>
9.910
<EXPENSE-RATIO>
72
<AVG-DEBT-OUTSTANDING>
0
<AVG-DEBT-PER-SHARE>
0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000803013
<NAME> Fidelity Advisor Series V
<SERIES>
<NUMBER> 44
<NAME> Fidelity Advisor California Municipal Income Fund
<MULTIPLIER> 1,000
<S>
<C>
<PERIOD-TYPE>
year
<FISCAL-YEAR-END>
oct-31-1996
<PERIOD-END>
oct-31-1996
<INVESTMENTS-AT-COST>
4,671
<INVESTMENTS-AT-VALUE>
4,710
<RECEIVABLES>
198
<ASSETS-OTHER>
59
<OTHER-ITEMS-ASSETS>
0
<TOTAL-ASSETS>
4,967
<PAYABLE-FOR-SECURITIES>
93
<SENIOR-LONG-TERM-DEBT>
0
<OTHER-ITEMS-LIABILITIES>
41
<TOTAL-LIABILITIES>
134
<SENIOR-EQUITY>
0
<PAID-IN-CAPITAL-COMMON>
4,799
<SHARES-COMMON-STOCK>
10
<SHARES-COMMON-PRIOR>
0
<ACCUMULATED-NII-CURRENT>
0
<OVERDISTRIBUTION-NII>
0
<ACCUMULATED-NET-GAINS>
(1)
<OVERDISTRIBUTION-GAINS>
0
<ACCUM-APPREC-OR-DEPREC>
35
<NET-ASSETS>
4,833
<DIVIDEND-INCOME>
0
<INTEREST-INCOME>
119
<OTHER-INCOME>
0
<EXPENSES-NET>
21
<NET-INVESTMENT-INCOME>
98
<REALIZED-GAINS-CURRENT>
0
<APPREC-INCREASE-CURRENT>
35
<NET-CHANGE-FROM-OPS>
133
<EQUALIZATION>
0
<DISTRIBUTIONS-OF-INCOME>
1
<DISTRIBUTIONS-OF-GAINS>
0
<DISTRIBUTIONS-OTHER>
0
<NUMBER-OF-SHARES-SOLD>
10
<NUMBER-OF-SHARES-REDEEMED>
0
<SHARES-REINVESTED>
0
<NET-CHANGE-IN-ASSETS>
4,833
<ACCUMULATED-NII-PRIOR>
0
<ACCUMULATED-GAINS-PRIOR>
0
<OVERDISTRIB-NII-PRIOR>
0
<OVERDIST-NET-GAINS-PRIOR>
0
<GROSS-ADVISORY-FEES>
9
<INTEREST-EXPENSE>
0
<GROSS-EXPENSE>
142
<AVERAGE-NET-ASSETS>
1001
<PER-SHARE-NAV-BEGIN>
9.75
<PER-SHARE-NII>
.066
<PER-SHARE-GAIN-APPREC>
.180
<PER-SHARE-DIVIDEND>
.066
<PER-SHARE-DISTRIBUTIONS>
0
<RETURNS-OF-CAPITAL>
0
<PER-SHARE-NAV-END>
9.930
<EXPENSE-RATIO>
90
<AVG-DEBT-OUTSTANDING>
0
<AVG-DEBT-PER-SHARE>
0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000803013
<NAME> Fidelity Advisor Series V
<SERIES>
<NUMBER> 31
<NAME> Fidelity Advisor New York Municipal Income Fund
<MULTIPLIER> 1,000
<S>
<C>
<PERIOD-TYPE>
year
<FISCAL-YEAR-END>
oct-31-1996
<PERIOD-END>
oct-31-1996
<INVESTMENTS-AT-COST>
7,212
<INVESTMENTS-AT-VALUE>
7,317
<RECEIVABLES>
152
<ASSETS-OTHER>
62
<OTHER-ITEMS-ASSETS>
0
<TOTAL-ASSETS>
7,531
<PAYABLE-FOR-SECURITIES>
93
<SENIOR-LONG-TERM-DEBT>
0
<OTHER-ITEMS-LIABILITIES>
48
<TOTAL-LIABILITIES>
141
<SENIOR-EQUITY>
0
<PAID-IN-CAPITAL-COMMON>
7,246
<SHARES-COMMON-STOCK>
394
<SHARES-COMMON-PRIOR>
196
<ACCUMULATED-NII-CURRENT>
0
<OVERDISTRIBUTION-NII>
0
<ACCUMULATED-NET-GAINS>
38
<OVERDISTRIBUTION-GAINS>
0
<ACCUM-APPREC-OR-DEPREC>
106
<NET-ASSETS>
7,390
<DIVIDEND-INCOME>
0
<INTEREST-INCOME>
323
<OTHER-INCOME>
0
<EXPENSES-NET>
70
<NET-INVESTMENT-INCOME>
253
<REALIZED-GAINS-CURRENT>
39
<APPREC-INCREASE-CURRENT>
5
<NET-CHANGE-FROM-OPS>
297
<EQUALIZATION>
0
<DISTRIBUTIONS-OF-INCOME>
150
<DISTRIBUTIONS-OF-GAINS>
0
<DISTRIBUTIONS-OTHER>
0
<NUMBER-OF-SHARES-SOLD>
226
<NUMBER-OF-SHARES-REDEEMED>
40
<SHARES-REINVESTED>
12
<NET-CHANGE-IN-ASSETS>
3,514
<ACCUMULATED-NII-PRIOR>
0
<ACCUMULATED-GAINS-PRIOR>
0
<OVERDISTRIB-NII-PRIOR>
0
<OVERDIST-NET-GAINS-PRIOR>
0
<GROSS-ADVISORY-FEES>
24
<INTEREST-EXPENSE>
0
<GROSS-EXPENSE>
198
<AVERAGE-NET-ASSETS>
3497
<PER-SHARE-NAV-BEGIN>
10.400
<PER-SHARE-NII>
.444
<PER-SHARE-GAIN-APPREC>
.080
<PER-SHARE-DIVIDEND>
.444
<PER-SHARE-DISTRIBUTIONS>
0
<RETURNS-OF-CAPITAL>
0
<PER-SHARE-NAV-END>
10.480
<EXPENSE-RATIO>
97
<AVG-DEBT-OUTSTANDING>
0
<AVG-DEBT-PER-SHARE>
0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000803013
<NAME> Fidelity Advisor Series V
<SERIES>
<NUMBER> 32
<NAME> Fidelity Advisor New York Municipal Income Fund
<MULTIPLIER> 1,000
<S>
<C>
<PERIOD-TYPE>
year
<FISCAL-YEAR-END>
oct-31-1996
<PERIOD-END>
oct-31-1996
<INVESTMENTS-AT-COST>
7,212
<INVESTMENTS-AT-VALUE>
7,317
<RECEIVABLES>
152
<ASSETS-OTHER>
62
<OTHER-ITEMS-ASSETS>
0
<TOTAL-ASSETS>
7,531
<PAYABLE-FOR-SECURITIES>
93
<SENIOR-LONG-TERM-DEBT>
0
<OTHER-ITEMS-LIABILITIES>
48
<TOTAL-LIABILITIES>
141
<SENIOR-EQUITY>
0
<PAID-IN-CAPITAL-COMMON>
7,246
<SHARES-COMMON-STOCK>
233
<SHARES-COMMON-PRIOR>
112
<ACCUMULATED-NII-CURRENT>
0
<OVERDISTRIBUTION-NII>
0
<ACCUMULATED-NET-GAINS>
38
<OVERDISTRIBUTION-GAINS>
0
<ACCUM-APPREC-OR-DEPREC>
106
<NET-ASSETS>
7,390
<DIVIDEND-INCOME>
0
<INTEREST-INCOME>
323
<OTHER-INCOME>
0
<EXPENSES-NET>
70
<NET-INVESTMENT-INCOME>
253
<REALIZED-GAINS-CURRENT>
39
<APPREC-INCREASE-CURRENT>
5
<NET-CHANGE-FROM-OPS>
297
<EQUALIZATION>
0
<DISTRIBUTIONS-OF-INCOME>
70
<DISTRIBUTIONS-OF-GAINS>
0
<DISTRIBUTIONS-OTHER>
0
<NUMBER-OF-SHARES-SOLD>
133
<NUMBER-OF-SHARES-REDEEMED>
16
<SHARES-REINVESTED>
4
<NET-CHANGE-IN-ASSETS>
3,514
<ACCUMULATED-NII-PRIOR>
0
<ACCUMULATED-GAINS-PRIOR>
0
<OVERDISTRIB-NII-PRIOR>
0
<OVERDIST-NET-GAINS-PRIOR>
0
<GROSS-ADVISORY-FEES>
24
<INTEREST-EXPENSE>
0
<GROSS-EXPENSE>
198
<AVERAGE-NET-ASSETS>
1932
<PER-SHARE-NAV-BEGIN>
10.390
<PER-SHARE-NII>
.375
<PER-SHARE-GAIN-APPREC>
.080
<PER-SHARE-DIVIDEND>
.375
<PER-SHARE-DISTRIBUTIONS>
0
<RETURNS-OF-CAPITAL>
0
<PER-SHARE-NAV-END>
10.470
<EXPENSE-RATIO>
162
<AVG-DEBT-OUTSTANDING>
0
<AVG-DEBT-PER-SHARE>
0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000803013
<NAME> Fidelity Advisor Series V
<SERIES>
<NUMBER> 33
<NAME> Fidelity Advisor New York Municipal Income Fund
<MULTIPLIER> 1,000
<S>
<C>
<PERIOD-TYPE>
year
<FISCAL-YEAR-END>
oct-31-1996
<PERIOD-END>
oct-31-1996
<INVESTMENTS-AT-COST>
7,212
<INVESTMENTS-AT-VALUE>
7,317
<RECEIVABLES>
152
<ASSETS-OTHER>
62
<OTHER-ITEMS-ASSETS>
0
<TOTAL-ASSETS>
7,531
<PAYABLE-FOR-SECURITIES>
93
<SENIOR-LONG-TERM-DEBT>
0
<OTHER-ITEMS-LIABILITIES>
48
<TOTAL-LIABILITIES>
141
<SENIOR-EQUITY>
0
<PAID-IN-CAPITAL-COMMON>
7,246
<SHARES-COMMON-STOCK>
69
<SHARES-COMMON-PRIOR>
66
<ACCUMULATED-NII-CURRENT>
0
<OVERDISTRIBUTION-NII>
0
<ACCUMULATED-NET-GAINS>
38
<OVERDISTRIBUTION-GAINS>
0
<ACCUM-APPREC-OR-DEPREC>
106
<NET-ASSETS>
7,390
<DIVIDEND-INCOME>
0
<INTEREST-INCOME>
323
<OTHER-INCOME>
0
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70
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253
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39
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5
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297
<EQUALIZATION>
0
<DISTRIBUTIONS-OF-INCOME>
32
<DISTRIBUTIONS-OF-GAINS>
0
<DISTRIBUTIONS-OTHER>
0
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0
<NUMBER-OF-SHARES-REDEEMED>
0
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3
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3,514
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0
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0
<OVERDISTRIB-NII-PRIOR>
0
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0
<GROSS-ADVISORY-FEES>
24
<INTEREST-EXPENSE>
0
<GROSS-EXPENSE>
198
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697
<PER-SHARE-NAV-BEGIN>
10.400
<PER-SHARE-NII>
.468
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.070
<PER-SHARE-DIVIDEND>
.468
<PER-SHARE-DISTRIBUTIONS>
0
<RETURNS-OF-CAPITAL>
0
<PER-SHARE-NAV-END>
10.470
<EXPENSE-RATIO>
68
<AVG-DEBT-OUTSTANDING>
0
<AVG-DEBT-PER-SHARE>
0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000803013
<NAME> Fidelity Advisor Series V
<SERIES>
<NUMBER> 34
<NAME> Fidelity Advisor New York Municipal Income Fund
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<S>
<C>
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year
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oct-31-1996
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oct-31-1996
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7,212
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7,317
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152
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62
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0
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7,531
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93
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0
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48
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141
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0
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7,246
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10
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0
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0
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0
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38
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0
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106
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7,390
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0
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323
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0
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70
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253
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39
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5
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297
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0
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1
<DISTRIBUTIONS-OF-GAINS>
0
<DISTRIBUTIONS-OTHER>
0
<NUMBER-OF-SHARES-SOLD>
10
<NUMBER-OF-SHARES-REDEEMED>
0
<SHARES-REINVESTED>
0
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3,514
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0
<ACCUMULATED-GAINS-PRIOR>
0
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0
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0
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101
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10.290
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.072
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.072
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0
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0
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10.490
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90
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0
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0
</TABLE>
