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<PAGE> PAGE 13
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<PAGE> PAGE 16
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<PAGE> PAGE 17
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<PAGE> PAGE 20
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014 A000402 FIDELITY DISTRIBUTORS CORPORATION
014 B000402 8-8775
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015 A000401 UMB BANK, NA
015 B000401 C
015 C010401 KANSAS CITY
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<PAGE> PAGE 21
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<PAGE> PAGE 22
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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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10,889
<SENIOR-LONG-TERM-DEBT>
0
<OTHER-ITEMS-LIABILITIES>
1,911
<TOTAL-LIABILITIES>
12,800
<SENIOR-EQUITY>
0
<PAID-IN-CAPITAL-COMMON>
509,565
<SHARES-COMMON-STOCK>
392
<SHARES-COMMON-PRIOR>
37
<ACCUMULATED-NII-CURRENT>
377
<OVERDISTRIBUTION-NII>
0
<ACCUMULATED-NET-GAINS>
48,724
<OVERDISTRIBUTION-GAINS>
0
<ACCUM-APPREC-OR-DEPREC>
91,825
<NET-ASSETS>
650,491
<DIVIDEND-INCOME>
5,636
<INTEREST-INCOME>
1,625
<OTHER-INCOME>
0
<EXPENSES-NET>
7,352
<NET-INVESTMENT-INCOME>
(91)
<REALIZED-GAINS-CURRENT>
49,754
<APPREC-INCREASE-CURRENT>
74,827
<NET-CHANGE-FROM-OPS>
124,490
<EQUALIZATION>
0
<DISTRIBUTIONS-OF-INCOME>
0
<DISTRIBUTIONS-OF-GAINS>
30
<DISTRIBUTIONS-OTHER>
0
<NUMBER-OF-SHARES-SOLD>
760
<NUMBER-OF-SHARES-REDEEMED>
406
<SHARES-REINVESTED>
1
<NET-CHANGE-IN-ASSETS>
374,286
<ACCUMULATED-NII-PRIOR>
0
<ACCUMULATED-GAINS-PRIOR>
9,932
<OVERDISTRIB-NII-PRIOR>
0
<OVERDIST-NET-GAINS-PRIOR>
0
<GROSS-ADVISORY-FEES>
3,345
<INTEREST-EXPENSE>
0
<GROSS-EXPENSE>
7,513
<AVERAGE-NET-ASSETS>
6,245
<PER-SHARE-NAV-BEGIN>
19.270
<PER-SHARE-NII>
.040
<PER-SHARE-GAIN-APPREC>
6.550
<PER-SHARE-DIVIDEND>
0
<PER-SHARE-DISTRIBUTIONS>
.690
<RETURNS-OF-CAPITAL>
0
<PER-SHARE-NAV-END>
25.170
<EXPENSE-RATIO>
144
<AVG-DEBT-OUTSTANDING>
0
<AVG-DEBT-PER-SHARE>
0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000803013
<NAME> Fidelity Advisor Series V
<SERIES>
<NUMBER> 21
<NAME> Advisor Natural Resources 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>
562,031
<INVESTMENTS-AT-VALUE>
653,856
<RECEIVABLES>
9,418
<ASSETS-OTHER>
17
<OTHER-ITEMS-ASSETS>
0
<TOTAL-ASSETS>
663,291
<PAYABLE-FOR-SECURITIES>
10,889
<SENIOR-LONG-TERM-DEBT>
0
<OTHER-ITEMS-LIABILITIES>
1,911
<TOTAL-LIABILITIES>
12,800
<SENIOR-EQUITY>
0
<PAID-IN-CAPITAL-COMMON>
509,565
<SHARES-COMMON-STOCK>
23,998
<SHARES-COMMON-PRIOR>
14,180
<ACCUMULATED-NII-CURRENT>
377
<OVERDISTRIBUTION-NII>
0
<ACCUMULATED-NET-GAINS>
48,724
<OVERDISTRIBUTION-GAINS>
0
<ACCUM-APPREC-OR-DEPREC>
91,825
<NET-ASSETS>
650,491
<DIVIDEND-INCOME>
5,636
<INTEREST-INCOME>
1,625
<OTHER-INCOME>
0
<EXPENSES-NET>
7,352
<NET-INVESTMENT-INCOME>
(91)
<REALIZED-GAINS-CURRENT>
49,754
<APPREC-INCREASE-CURRENT>
74,827
<NET-CHANGE-FROM-OPS>
124,490
<EQUALIZATION>
0
<DISTRIBUTIONS-OF-INCOME>
0
<DISTRIBUTIONS-OF-GAINS>
10,064
<DISTRIBUTIONS-OTHER>
0
<NUMBER-OF-SHARES-SOLD>
16,016
<NUMBER-OF-SHARES-REDEEMED>
6,657
<SHARES-REINVESTED>
462
<NET-CHANGE-IN-ASSETS>
374,286
<ACCUMULATED-NII-PRIOR>
0
<ACCUMULATED-GAINS-PRIOR>
9,932
<OVERDISTRIB-NII-PRIOR>
0
<OVERDIST-NET-GAINS-PRIOR>
0
<GROSS-ADVISORY-FEES>
3,345
<INTEREST-EXPENSE>
0
<GROSS-EXPENSE>
7,513
<AVERAGE-NET-ASSETS>
441,560
<PER-SHARE-NAV-BEGIN>
19.250
<PER-SHARE-NII>
.0
<PER-SHARE-GAIN-APPREC>
6.560
<PER-SHARE-DIVIDEND>
0
<PER-SHARE-DISTRIBUTIONS>
.690
<RETURNS-OF-CAPITAL>
0
<PER-SHARE-NAV-END>
25.120
<EXPENSE-RATIO>
159
<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
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0
<TOTAL-ASSETS>
4,967
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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
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4,710
<RECEIVABLES>
198
<ASSETS-OTHER>
59
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0
<TOTAL-ASSETS>
4,967
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93
<SENIOR-LONG-TERM-DEBT>
0
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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
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62
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0
<TOTAL-ASSETS>
7,531
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93
<SENIOR-LONG-TERM-DEBT>
0
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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
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7,317
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152
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62
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0
<TOTAL-ASSETS>
7,531
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93
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0
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48
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141
<SENIOR-EQUITY>
0
<PAID-IN-CAPITAL-COMMON>
7,246
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233
<SHARES-COMMON-PRIOR>
112
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0
<OVERDISTRIBUTION-NII>
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
<EXPENSES-NET>
70
<NET-INVESTMENT-INCOME>
253
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39
<APPREC-INCREASE-CURRENT>
5
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297
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0
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70
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0
<DISTRIBUTIONS-OTHER>
0
<NUMBER-OF-SHARES-SOLD>
133
<NUMBER-OF-SHARES-REDEEMED>
16
<SHARES-REINVESTED>
4
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3,514
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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>
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7,212
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7,317
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152
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62
<OTHER-ITEMS-ASSETS>
0
<TOTAL-ASSETS>
7,531
<PAYABLE-FOR-SECURITIES>
93
<SENIOR-LONG-TERM-DEBT>
0
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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
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7,390
<DIVIDEND-INCOME>
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
<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
<AVG-DEBT-PER-SHARE>
0
</TABLE>
