FDRR is a mutual fund offered by Fidelity Investments that focuses on providing investors with dividend income while also protecting against rising interest rates. This ETF (exchange-traded fund) invests in a diversified portfolio of stocks that have a history of paying consistent dividends and have the potential to continue doing so even in a rising interest rate environment. FDRR aims to provide investors with a steady stream of income while also managing the risks associated with changing interest rates.