Fidelity Advisor Series Iv N-CSRS Certified semi-annual shareholder report (management investment company)

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM N-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED

MANAGEMENT INVESTMENT COMPANIES

Investment Company Act file number 811-3737

Fidelity Advisor Series IV
(Exact name of registrant as specified in charter)

82 Devonshire St., Boston, Massachusetts 02109
(Address of principal executive offices)       (Zip code)

Scott C. Goebel, Secretary

82 Devonshire St.

Boston, Massachusetts 02109
(Name and address of agent for service)

Registrant's telephone number, including area code: 617-563-7000

Date of fiscal year end:	November 30
Date of reporting period:	May 31, 2010

Item 1. Reports to Stockholders

Fidelity ®
Institutional
Short-Intermediate
Government Fund

Semiannual Report

May 31, 2010
(2_fidelity_logos) (Registered_Trademark)

Contents

Chairman's Message	<Click Here>	The Chairman's message to shareholders.
Shareholder Expense Example	<Click Here>	An example of shareholder expenses.
Investment Changes	<Click Here>	A summary of major shifts in the fund's investments over the past six months.
Investments	<Click Here>	A complete list of the fund's investments with their market values.
Financial Statements	<Click Here>	Statements of assets and liabilities, operations, and changes in net assets, as well as financial highlights.
Notes	<Click Here>	Notes to the financial statements.

To view a fund's proxy voting guidelines and proxy voting record for the 12-month period ended June 30, visit http://www.fidelity.com/proxyvotingresults or visit the Securities and Exchange Commission's (SEC) website at http://www.sec.gov. You may also call 1-800-544-8544 to request a free copy of the proxy voting guidelines.

Standard & Poor's, S&P and S&P 500 are registered service marks of The McGraw-Hill Companies, Inc. and have been licensed for use by Fidelity Distributors Corporation.

Other third party marks appearing herein are the property of their respective owners.

All other marks appearing herein are registered or unregistered trademarks or service marks of FMR LLC or an affiliated company.

This report and the financial statements contained herein are submitted for the general information of the shareholders of the fund. This report is not authorized for distribution to prospective investors in the fund unless preceded or accompanied by an effective prospectus.

A fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-Q. Forms N-Q are available on the SEC's web site at http://www.sec.gov. A fund's Forms N-Q may be reviewed and copied at the SEC's Public Reference Room in Washington, DC. Information regarding the operation of the SEC's Public Reference Room may be obtained by calling 1-800-SEC-0330. For a complete list of a fund's portfolio holdings, view the most recent holdings listing, semiannual report, or annual report on Fidelity's web site at http://www.fidelity.com or http://www.advisor.fidelity.com, as applicable.

NOT FDIC INSURED • MAY LOSE VALUE • NO BANK GUARANTEE

Neither the fund nor Fidelity Distributors Corporation is a bank.

Semiannual Report

Chairman's Message

(photo_of_Abigail_P_Johnson)

Dear Shareholder:

A yearlong uptrend in global equity markets came under significant pressure in May 2010 when investor sentiment turned bearish amid growing concern that Europe's debt crisis would expand and slow or derail economic recovery. Financial markets are always unpredictable, of course, but there also are several time-tested investment principles that can help put the odds in your favor.

One of the basic tenets is to invest for the long term. Over time, riding out the markets' inevitable ups and downs has proven much more effective than selling into panic or chasing the hottest trend. Even missing only a few of the markets' best days can significantly diminish investor returns. Patience also affords the benefits of compounding - of earning interest on additional income or reinvested dividends and capital gains. There can be tax advantages and cost benefits to consider as well. While staying the course doesn't eliminate risk, it can considerably lessen the effect of short-term declines.

You can further manage your investing risk through diversification. And today, more than ever, geographic diversification should be taken into account. Studies indicate that asset allocation is the single most important determinant of a portfolio's long-term success. The right mix of stocks, bonds and cash - aligned to your particular risk tolerance and investment objective - is very important. Age-appropriate rebalancing is also an essential aspect of asset allocation. For younger investors, an emphasis on equities - which historically have been the best-performing asset class over time - is encouraged. As investors near their specific goal, such as retirement or sending a child to college, consideration may be given to replacing volatile assets (e.g. common stocks) with more-stable fixed investments (bonds or savings plans).

A third principle - investing regularly - can help lower the average cost of your purchases. Investing a certain amount of money each month or quarter helps ensure you won't pay for all your shares at market highs. This strategy - known as dollar cost averaging - also reduces "emotion" from investing, helping shareholders avoid selling weak performers just prior to an upswing, or chasing a hot performer just before a correction.

We invite you to contact us via the Internet, through our Investor Centers or by phone. It is our privilege to provide you the information you need to make the investments that are right for you.

Sincerely,

(The chairman's signature appears here.)

Abigail P. Johnson

Semiannual Report

Shareholder Expense Example

As a shareholder of the Fund, you incur two types of costs: (1) transaction costs, and (2) ongoing costs, including management fees and other Fund expenses. This Example is intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds.

The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (December 1, 2009 to May 31, 2010).

Actual Expenses

The first line of the accompanying table provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000.00 (for example, an $8,600 account value divided by $1,000.00 = 8.6), then multiply the result by the number in the first line under the heading entitled "Expenses Paid During Period" to estimate the expenses you paid on your account during this period.

Hypothetical Example for Comparison Purposes

The second line of the accompanying table provides information about hypothetical account values and hypothetical expenses based on the Fund's actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Fund's actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds.

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transaction costs. Therefore, the second line of the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds.

	Annualized Expense Ratio	Beginning Account Value December 1, 2009	Ending Account Value May 31, 2010	Expenses Paid During Period* December 1, 2009 to May 31, 2010
Actual	.45%	$ 1,000.00	$ 1,007.30	$ 2.25
Hypothetical (5% return per year before expenses)		$ 1,000.00	$ 1,022.69	$ 2.27

* Expenses are equal to the Fund's annualized expense ratio, multiplied by the average account value over the period, multiplied by 182/365 (to reflect the one-half year period).

Semiannual Report

Investment Changes (Unaudited)

Coupon Distribution as of May 31, 2010
	% of fund's investments	% of fund's investments 6 months ago
Less than 1%	10.7	4.5
1 - 1.99%	39.9	35.4
2 - 2.99%	26.0	28.1
3 - 3.99%	12.7	12.5
4 - 4.99%	5.3	8.5
5% and over	2.1	7.4

Coupon distribution shows the range of stated interest rates on the fund's investments, excluding short-term investments.

Weighted Average Maturity as of May 31, 2010
		6 months ago
Years	2.8	2.9

The weighted average maturity is based on the dollar-weighted average length of time until principal payments are expected or until securities reach maturity, taking into account any maturity shortening feature such as a call, refunding or redemption provision.

Duration as of May 31, 2010
		6 months ago
Years	2.5	2.5

Duration shows how much a bond fund's price fluctuates with changes in comparable interest rates. If rates rise 1%, for example, a fund with a five-year duration is likely to lose about 5% of its value. Other factors also can influence a bond fund's performance and share price. Accordingly, a bond fund's actual performance may differ from this example.

Asset Allocation (% of fund's net assets)
As of May 31, 2010*			As of November 30, 2009**
	Mortgage Securities 4.4%			Mortgage Securities 8.4%
	Corporate Bonds 0.0%			Corporate Bonds 1.1%
	CMOs and Other Mortgage Related Securities 3.8%			CMOs and Other Mortgage Related Securities 2.2%
	U.S. Treasury Obligations 63.4%			U.S. Treasury Obligations 57.7%
	U.S. Government Agency Obligations† 26.2%			U.S. Government Agency Obligations† 30.2%
	Short-Term Investments and Net Other Assets 2.2%			Short-Term Investments and Net Other Assets 0.4%
* Futures and Swaps		2.0%	** Futures and Swaps		1.2%

^†Includes FDIC Guaranteed Corporate Securities.

Semiannual Report

Investments May 31, 2010 (Unaudited)

Showing Percentage of Net Assets

U.S. Government and Government Agency Obligations - 89.6%
	Principal Amount		Value
U.S. Government Agency Obligations - 11.8%
Fannie Mae 1.25% 6/22/12	$ 15,400,000		$ 15,466,420
Federal Home Loan Bank:
1.5% 1/16/13	4,470,000		4,488,716
1.875% 6/21/13	10,650,000		10,747,650
3.625% 10/18/13	3,160,000		3,362,531
Freddie Mac:
1.625% 4/15/13	9,000,000		9,045,576
1.75% 6/15/12	15,018,000		15,236,707
Israeli State (guaranteed by U.S. Government through Agency for International Development) 6.8% 2/15/12	1,333,460		1,385,997
Overseas Private Investment Corp. U.S. Government guaranteed participation certificates 6.77% 11/15/13	457,691		488,585
TOTAL U.S. GOVERNMENT AGENCY OBLIGATIONS			60,222,182
U.S. Treasury Inflation Protected Obligations - 2.2%
U.S. Treasury Inflation-Indexed Notes 0.5% 4/15/15	11,547,265		11,617,331
U.S. Treasury Obligations - 61.2%
U.S. Treasury Notes:
0.75% 11/30/11	371,000		371,565
0.875% 2/28/11	6,486,000		6,510,575
0.875% 3/31/11	10,180,000		10,220,954
0.875% 1/31/12	15,507,000		15,551,831
1% 12/31/11	3,781,000		3,800,052
1% 4/30/12	20,248,000		20,340,533
1.375% 2/15/12	7,286,000		7,372,237
1.375% 4/15/12	5,350,000		5,417,501
1.375% 2/15/13	19,439,000		19,545,312
1.375% 5/15/13	800,000		803,064
1.5% 12/31/13	1,403,000		1,398,176
1.75% 4/15/13	35,016,000		35,538,435
1.875% 4/30/14	20,188,000		20,299,983
2.375% 8/31/14	11,687,000		11,933,526
2.375% 9/30/14	30,850,000		31,454,938
2.375% 10/31/14	5,575,000		5,677,792
2.5% 3/31/15	18,340,000		18,729,725
2.625% 6/30/14	2,353,000		2,428,002
2.625% 7/31/14	7,703,000		7,946,731
2.625% 4/30/16	2,073,000		2,085,795
2.75% 10/31/13	23,725,000		24,694,380
3.125% 8/31/13	20,667,000		21,789,156
U.S. Government and Government Agency Obligations - continued
	Principal Amount		Value
U.S. Treasury Obligations - continued
U.S. Treasury Notes: - continued
3.125% 9/30/13	$ 3,970,000		$ 4,183,388
3.375% 6/30/13	10,561,000		11,229,311
4.75% 3/31/11	18,000,000		18,648,990
4.75% 5/31/12 (b)	4,500,000		4,855,779
TOTAL U.S. TREASURY OBLIGATIONS			312,827,731
Other Government Related - 14.4%
Bank of America Corp.:
2.1% 4/30/12 (FDIC Guaranteed) (a)	577,000		589,088
3.125% 6/15/12 (FDIC Guaranteed) (a)	161,000		167,613
Citibank NA:
1.5% 7/12/11 (FDIC Guaranteed) (a)	320,000		321,907
1.75% 12/28/12 (FDIC Guaranteed) (a)	2,000,000		2,019,410
1.875% 5/7/12 (FDIC Guaranteed) (a)	12,500,000		12,700,038
Citigroup Funding, Inc.:
1.875% 11/15/12 (FDIC Guaranteed) (a)	1,600,000		1,620,960
2% 3/30/12 (FDIC Guaranteed) (a)	5,000,000		5,088,790
2.125% 7/12/12 (FDIC Guaranteed) (a)	934,000		952,471
General Electric Capital Corp.:
1.8% 3/11/11 (FDIC Guaranteed) (a)	12,000,000		12,114,456
2% 9/28/12 (FDIC Guaranteed) (a)	4,000,000		4,066,044
2.625% 12/28/12 (FDIC Guaranteed) (a)	1,702,000		1,755,996
3% 12/9/11 (FDIC Guaranteed) (a)	420,000		433,261
GMAC, Inc. 1.75% 10/30/12 (FDIC Guaranteed) (a)	6,000,000		6,061,686
Goldman Sachs Group, Inc.:
1.625% 7/15/11 (FDIC Guaranteed) (a)	879,000		888,042
3.25% 6/15/12 (FDIC Guaranteed) (a)	162,000		169,093
JPMorgan Chase & Co.:
2.125% 6/22/12 (FDIC Guaranteed) (a)	2,560,000		2,611,338
2.125% 12/26/12 (FDIC Guaranteed) (a)	7,000,000		7,141,442
2.2% 6/15/12 (FDIC Guaranteed) (a)	2,570,000		2,624,741
3.125% 12/1/11 (FDIC Guaranteed) (a)	70,000		72,335
Morgan Stanley 3.25% 12/1/11 (FDIC Guaranteed) (a)	11,696,000		12,097,220
TOTAL OTHER GOVERNMENT RELATED			73,495,931
TOTAL U.S. GOVERNMENT AND GOVERNMENT AGENCY OBLIGATIONS (Cost $451,656,376)		458,163,175
U.S. Government Agency - Mortgage Securities - 4.4%
	Principal Amount		Value
Fannie Mae - 3.1%
1.989% 2/1/33 (c)	$ 21,821		$ 22,434
2.026% 4/1/36 (c)	285,342		293,464
2.048% 10/1/33 (c)	20,857		21,473
2.063% 12/1/34 (c)	33,592		34,509
2.072% 3/1/35 (c)	18,436		18,986
2.129% 7/1/35 (c)	11,618		11,956
2.136% 3/1/35 (c)	4,043		4,175
2.209% 4/1/33 (c)	239,961		246,411
2.211% 4/1/36 (c)	51,505		53,052
2.582% 3/1/35 (c)	14,110		14,721
2.73% 11/1/33 (c)	55,744		58,070
2.73% 7/1/36 (c)	90,608		94,395
2.786% 8/1/35 (c)	566,299		593,078
2.799% 10/1/33 (c)	22,445		23,499
2.899% 7/1/35 (c)	619,269		645,680
2.963% 3/1/33 (c)	55,940		58,545
3.018% 1/1/35 (c)	102,922		107,045
3.076% 5/1/34 (c)	190,107		198,010
3.139% 10/1/35 (c)	37,291		38,603
3.177% 2/1/34 (c)	6,036		6,312
3.203% 7/1/35 (c)	27,110		28,357
3.216% 2/1/35 (c)	1,012,974		1,052,207
3.229% 7/1/35 (c)	407,128		425,106
3.258% 9/1/34 (c)	190,857		198,302
3.302% 12/1/32 (c)	69,218		72,442
3.343% 11/1/36 (c)	138,172		144,774
3.346% 10/1/35 (c)	426,309		443,623
3.347% 7/1/35 (c)	286,027		294,092
3.358% 7/1/34 (c)	14,060		14,604
3.38% 7/1/35 (c)	103,697		108,051
3.455% 7/1/35 (c)	135,563		139,542
3.465% 4/1/35 (c)	267,099		279,875
3.474% 4/1/36 (c)	163,287		171,333
3.534% 2/1/37 (c)	334,860		350,647
3.546% 2/1/40 (c)	4,208,578		4,331,998
3.674% 6/1/47 (c)	70,275		73,675
3.716% 2/1/36 (c)	307,039		321,230
3.721% 11/1/36 (c)	135,866		142,380
3.893% 9/1/36 (c)	145,265		152,186
4% 9/1/13	97,395		99,973
4.08% 9/1/35 (c)	156,682		163,871
4.141% 8/1/35 (c)	317,348		334,901
U.S. Government Agency - Mortgage Securities - continued
	Principal Amount		Value
Fannie Mae - continued
4.209% 10/1/37 (c)	$ 178,913		$ 187,191
4.278% 6/1/36 (c)	21,517		22,422
4.293% 10/1/35 (c)	158,107		164,646
4.777% 7/1/35 (c)	127,404		133,059
5% 2/1/16	16,408		17,423
5.032% 2/1/34 (c)	177,773		187,253
5.5% 4/1/16	54,992		56,703
5.548% 2/1/36 (c)	56,370		58,751
5.577% 4/1/36 (c)	302,780		315,698
5.838% 5/1/36 (c)	64,594		67,577
5.989% 4/1/36 (c)	879,460		914,159
6% 5/1/12 to 10/1/16	56,896		60,876
6.213% 3/1/37 (c)	48,090		51,336
6.5% 6/1/15 to 7/1/32	295,317		321,353
6.806% 12/1/32 (c)	803,511		848,206
7% 6/1/12 to 11/1/14	93,358		98,449
9% 2/1/13 to 8/1/21	79,407		87,422
9.5% 11/1/21	352		395
10.5% 8/1/20	12,441		14,703
11% 11/1/10 to 9/1/14	3,134		3,162
11.5% 11/1/15 to 7/15/19	47,557		52,958
12% 4/1/15	9,515		10,982
12.5% 3/1/16	844		969
			15,563,280
Freddie Mac - 1.3%
1.967% 3/1/35 (c)	67,266		68,821
2.027% 3/1/37 (c)	253,139		259,273
2.414% 7/1/35 (c)	537,483		554,445
2.588% 6/1/33 (c)	117,622		121,947
2.65% 12/1/33 (c)	240,795		251,288
2.722% 4/1/34 (c)	428,875		447,480
2.879% 11/1/35 (c)	128,993		134,700
2.996% 5/1/35 (c)	222,233		232,213
3.086% 4/1/37 (c)	45,050		47,192
3.269% 1/1/36 (c)	595,873		628,411
3.274% 10/1/35 (c)	153,437		158,564
3.3% 1/1/35 (c)	302,713		317,611
3.392% 3/1/37 (c)	45,197		46,805
3.395% 7/1/35 (c)	130,136		135,585
3.537% 3/1/33 (c)	3,457		3,649
3.706% 10/1/36 (c)	152,878		158,834
U.S. Government Agency - Mortgage Securities - continued
	Principal Amount		Value
Freddie Mac - continued
3.938% 6/1/35 (c)	$ 80,547		$ 84,240
3.991% 12/1/36 (c)	566,148		593,454
4.2% 5/1/37 (c)	245,364		255,767
4.576% 5/1/37 (c)	373,189		389,686
4.744% 5/1/37 (c)	34,879		36,524
4.774% 2/1/36 (c)	30,782		32,370
5% 9/1/35	9,369		9,848
5.08% 7/1/35 (c)	93,973		98,825
5.256% 2/1/36 (c)	12,599		13,300
5.402% 1/1/36 (c)	123,319		128,796
5.509% 5/1/37 (c)	40,889		42,005
5.515% 1/1/36 (c)	117,845		122,558
5.548% 3/1/36 (c)	425,082		441,376
5.585% 10/1/35 (c)	19,117		20,013
5.86% 6/1/37 (c)	113,083		116,088
6.009% 6/1/37 (c)	13,385		14,165
6.068% 7/1/36 (c)	55,330		58,324
6.233% 8/1/37 (c)	95,879		101,958
6.449% 2/1/37 (c)	34,942		36,684
6.5% 12/1/21	240,740		258,984
7.22% 4/1/37 (c)	1,694		1,801
7.5% 11/1/12	33,576		35,238
9% 10/1/16 to 12/1/18	31,026		34,230
9.5% 2/1/17 to 12/1/22	43,347		49,108
10% 6/1/18 to 6/1/20	5,607		6,556
10.5% 9/1/20	126		149
11.5% 10/1/15	2,915		3,276
12% 10/1/13 to 11/1/19	9,567		10,729
12.25% 11/1/14	5,922		6,612
12.5% 2/1/11 to 6/1/19	34,597		39,025
			6,608,507
Government National Mortgage Association - 0.0%
8% 12/15/23	126,994		139,163
8.5% 5/15/16 to 3/15/17	29,023		31,800
10.5% 1/15/16 to 1/15/18	27,513		31,786
11% 10/20/13	998		1,104
			203,853
TOTAL U.S. GOVERNMENT AGENCY - MORTGAGE SECURITIES (Cost $21,697,986)		22,375,640
Collateralized Mortgage Obligations - 3.8%
	Principal Amount		Value
U.S. Government Agency - 3.8%
Fannie Mae floater:
Series 1994-42 Class FK, 3.31% 4/25/24 (c)	$ 918,789		$ 909,770
Series 2006-56 Class PF, 0.6928% 7/25/36 (c)	1,692,443		1,688,951
Fannie Mae subordinate REMIC pass-thru certificates:
floater:
Series 2001-38 Class QF, 1.3228% 8/25/31 (c)	209,090		213,471
Series 2002-49 Class FB, 0.9378% 11/18/31 (c)	324,153		325,523
Series 2002-60 Class FV, 1.3428% 4/25/32 (c)	72,969		74,433
Series 2002-74 Class FV, 0.7928% 11/25/32 (c)	884,386		888,538
Series 2002-75 Class FA, 1.3428% 11/25/32 (c)	149,476		152,476
Series 2005-56 Class F, 0.6328% 7/25/35 (c)	2,237,564		2,216,982
Series 2006-50 Class BF, 0.7428% 6/25/36 (c)	1,812,137		1,801,210
Series 2006-79 Class PF, 0.7428% 8/25/36 (c)	1,158,339		1,152,585
planned amortization class:
Series 2002-16 Class PG, 6% 4/25/17	377,951		407,583
Series 2002-9 Class PC, 6% 3/25/17	553,288		601,209
Series 2003-85 Class GD, 4.5% 9/25/18	395,000		421,022
Series 2005-52 Class PB, 6.5% 12/25/34	351,058		378,905
sequential payer:
Series 2002-56 Class MC, 5.5% 9/25/17	88,693		95,513
Series 2002-57 Class BD, 5.5% 9/25/17	90,858		98,840
Series 2004-95 Class AN, 5.5% 1/25/25	288,752		311,515
Freddie Mac Multi-class participation certificates guaranteed:
floater:
Series 2448 Class FT, 1.3369% 3/15/32 (c)	320,823		327,380
Series 2526 Class FC, 0.7369% 11/15/32 (c)	189,838		190,109
Series 2530 Class FE, 0.9369% 2/15/32 (c)	180,433		181,644
Series 2630 Class FL, 0.8369% 6/15/18 (c)	24,979		25,371
Series 2925 Class CQ, 0% 1/15/35 (c)	29,506		25,566
Series 3346 Class FA, 0.5669% 2/15/19 (c)	1,737,940		1,739,838
planned amortization class:
Series 2356 Class GD, 6% 9/15/16	92,240		99,030
Series 2363 Class PF, 6% 9/15/16	120,611		129,369
Series 2376 Class JE, 5.5% 11/15/16	98,313		105,764
Series 2381 Class OG, 5.5% 11/15/16	69,774		75,173
Series 2425 Class JH, 6% 3/15/17	124,429		134,551
Series 2628 Class OE, 4.5% 6/15/18	335,000		360,837
Series 2695 Class DG, 4% 10/15/18	805,000		844,326
sequential payer:
Series 1929 Class EZ, 7.5% 2/17/27	731,700		791,723
Collateralized Mortgage Obligations - continued
	Principal Amount		Value
U.S. Government Agency - continued
Freddie Mac Multi-class participation certificates guaranteed: - continued
sequential payer:
Series 2570 Class CU, 4.5% 7/15/17	$ 38,943		$ 40,421
Series 2572 Class HK, 4% 2/15/17	45,566		46,568
Series 2672 Class HA, 4% 9/15/16	421,019		434,174
Series 2729 Class GB, 5% 1/15/19	545,000		581,430
Series 2860 Class CP, 4% 10/15/17	30,767		31,327
Series 3013 Class VJ, 5% 1/15/14	638,339		676,090
Ginnie Mae guaranteed REMIC pass-thru securities floater 0.6397% 1/20/31 (c)	886,385		888,222
TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost $19,074,200)		19,467,439

Cash Equivalents - 3.1%
	Maturity Amount
Investments in repurchase agreements in a joint trading account at 0.21%, dated 5/28/10 due 6/1/10 (Collateralized by U.S. Government Obligations) # (Cost $16,104,000)	$ 16,104,374		16,104,000
TOTAL INVESTMENT PORTFOLIO - 100.9% (Cost $508,532,562)			516,110,254
NET OTHER ASSETS - (0.9)%			(4,721,330)
NET ASSETS - 100%		$ 511,388,924

Futures Contracts
	Expiration Date	Underlying Face Amount at Value	Unrealized Appreciation/ (Depreciation)
Purchased
Treasury Contracts
48 CBOT 2 Year U.S. Treasury Notes Index Contracts	Oct. 2010	$ 10,470,750	$ 11,108

The face value of futures purchased as a percentage of net assets - 2%

Legend

(a) Under the Temporary Liquidity Guarantee Program, the Federal Deposit Insurance Corporation guarantees principal and interest in the event of payment default or bankruptcy until the earlier of maturity date of the debt or until June 30, 2012. At the end of the period these securities amounted to $73,495,931 or 14.4% of net assets.

(b) Security or a portion of the security was pledged to cover margin requirements for futures contracts. At the period end, the value of securities pledged amounted to $53,953.

(c) The coupon rate shown on floating or adjustable rate securities represents the rate at period end.

# Additional information on each counterparty to the repurchase agreement is as follows:

Repurchase Agreement / Counterparty	Value
$16,104,000 due 6/01/10 at 0.21%
Banc of America Securities LLC	$ 1,084,297
Bank of America, NA	10,253,429
J.P. Morgan Securities, Inc.	1,095,695
Mizuho Securities USA, Inc.	3,670,579
	$ 16,104,000

Other Information

The following is a summary of the inputs used, as of May 31, 2010, involving the Fund's assets and liabilities carried at value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the tables below, please refer to the Security Valuation section in the accompanying Notes to Financial Statements.

Valuation Inputs at Reporting Date:
Description	Total	Level 1	Level 2	Level 3
Investments in Securities:
U.S. Government and Government Agency Obligations	$ 458,163,175	$ -	$ 458,163,175	$ -
U.S. Government Agency - Mortgage Securities	22,375,640	-	22,375,640	-
Collateralized Mortgage Obligations	19,467,439	-	19,467,439	-
Cash Equivalents	16,104,000	-	16,104,000	-
Total Investments in Securities:	$ 516,110,254	$ -	$ 516,110,254	$ -
Derivative Instruments:
Assets
Futures Contracts	$ 11,108	$ 11,108	$ -	$ -

The following is a reconciliation of Investments in Securities and Derivative Instruments for which Level 3 inputs were used in determining value:

Investments in Securities:
Beginning Balance	$ 239,535
Total Realized Gain (Loss)	(23)
Total Unrealized Gain (Loss)	17,947
Cost of Purchases	-
Proceeds of Sales	(257,459)
Amortization/Accretion	-
Transfers in to Level 3	-
Transfers out of Level 3	-
Ending Balance	$ -
The change in unrealized gain (loss) for the period attributable to Level 3 securities held at May 31, 2010	$ -

The information used in the above reconciliation represents fiscal year to date activity for any Investments in Securities identified as using Level 3 inputs at either the beginning or the end of the current fiscal period. Transfers in or out of Level 3 represents the beginning value of any Security or Instrument where a change in the pricing level occurred from the beginning to the end of the period. The cost of purchases and the proceeds of sales may include securities received or delivered through corporate actions or exchanges. Realized and unrealized gains (losses) disclosed in the reconciliation are included in Net Gain (Loss) on the Fund's Statement of Operations.

Value of Derivative Instruments

The following table is a summary of the Fund's value of derivative instruments by risk exposure as of May 31, 2010. For additional information on derivative instruments, please refer to the Derivative Instruments section in the accompanying Notes to Financial Statements.

Risk Exposure / Derivative Type	Value
	Asset	Liability
Interest Rate Risk
Futures Contracts (a)	$ 11,108	$ -
Total Value of Derivatives	$ 11,108	$ -

(a) Reflects cumulative appreciation/(depreciation) on futures contracts as disclosed on the Schedule of Investments. Only the period end variation margin is separately disclosed on the Statement of Assets and Liabilities.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

Financial Statements

Statement of Assets and Liabilities

	May 31, 2010 (Unaudited)
Assets
Investment in securities, at value (including repurchase agreements of $16,104,000) - See accompanying schedule: Unaffiliated issuers (cost $508,532,562)		$ 516,110,254
Cash		281
Receivable for investments sold		33,540,757
Receivable for fund shares sold		1,963,909
Interest receivable		2,237,407
Receivable for daily variation on futures contracts		20,243
Total assets		553,872,851
Liabilities
Payable for investments purchased	$ 41,620,326
Payable for fund shares redeemed	653,764
Distributions payable	17,104
Accrued management fee	191,640
Other affiliated payables	276
Other payables and accrued expenses	817
Total liabilities		42,483,927
Net Assets		$ 511,388,924
Net Assets consist of:
Paid in capital		$ 500,699,521
Distributions in excess of net investment income		(131,553)
Accumulated undistributed net realized gain (loss) on investments		3,232,156
Net unrealized appreciation (depreciation) on investments		7,588,800
Net Assets, for 50,262,073 shares outstanding		$ 511,388,924
Net Asset Value, offering price and redemption price per share ($511,388,924 ÷ 50,262,073 shares)		$ 10.17

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

Financial Statements - continued

Statement of Operations

Six months ended May 31, 2010 (Unaudited)
Investment Income
Interest		$ 4,974,150
Expenses
Management fee	$ 1,174,467
Independent trustees' compensation	926
Interest	833
Miscellaneous	1,098
Total expenses before reductions	1,177,324
Expense reductions	(3)	1,177,321
Net investment income		3,796,829
Realized and Unrealized Gain (Loss) Net realized gain (loss) on:
Investment securities:
Unaffiliated issuers	3,611,862
Futures contracts	8,416
Swap agreements	(63,345)
Total net realized gain (loss)		3,556,933
Change in net unrealized appreciation (depreciation) on: Investment securities	(3,763,076)
Futures contracts	11,108
Swap agreements	164,068
Delayed delivery commitments	39,873
Total change in net unrealized appreciation (depreciation)		(3,548,027)
Net gain (loss)		8,906
Net increase (decrease) in net assets resulting from operations		$ 3,805,735

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

Statement of Changes in Net Assets

	Six months ended May 31, 2010 (Unaudited)	Year ended November 30, 2009
Increase (Decrease) in Net Assets
Operations
Net investment income	$ 3,796,829	$ 12,150,598
Net realized gain (loss)	3,556,933	16,464,261
Change in net unrealized appreciation (depreciation)	(3,548,027)	(356,258)
Net increase (decrease) in net assets resulting from operations	3,805,735	28,258,601
Distributions to shareholders from net investment income	(3,784,715)	(12,414,165)
Distributions to shareholders from net realized gain	(7,287,858)	-
Total distributions	(11,072,573)	(12,414,165)
Share transactions Proceeds from sales of shares	91,639,966	343,545,192
Reinvestment of distributions	10,817,813	12,185,520
Cost of shares redeemed	(122,635,845)	(445,270,143)
Net increase (decrease) in net assets resulting from share transactions	(20,178,066)	(89,539,431)
Total increase (decrease) in net assets	(27,444,904)	(73,694,995)
Net Assets
Beginning of period	538,833,828	612,528,823
End of period (including distributions in excess of net investment income of $131,553 and distributions in excess of net investment income of $143,667, respectively)	$ 511,388,924	$ 538,833,828
Other Information Shares
Sold	9,049,688	33,843,264
Issued in reinvestment of distributions	1,069,417	1,198,312
Redeemed	(12,123,194)	(43,803,413)
Net increase (decrease)	(2,004,089)	(8,761,837)

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

Financial Highlights

	Six months ended May 31, 2010	Years ended November 30,
	(Unaudited)	2009	2008	2007	2006	2005
Selected Per-Share Data
Net asset value, beginning of period	$ 10.31	$ 10.04	$ 9.73	$ 9.55	$ 9.52	$ 9.65
Income from Investment Operations
Net investment income D	.074	.199	.316	.411	.382	.293
Net realized and unrealized gain (loss)	(.001) F	.274	.326	.196	.012	(.160)
Total from investment operations	.073	.473	.642	.607	.394	.133
Distributions from net investment income	(.073)	(.203)	(.332)	(.427)	(.364)	(.263)
Distributions from net realized gain	(.140)	-	-	-	-	-
Total distributions	(.213)	(.203)	(.332)	(.427)	(.364)	(.263)
Net asset value, end of period	$ 10.17	$ 10.31	$ 10.04	$ 9.73	$ 9.55	$ 9.52
Total Return B, C	.73%	4.76%	6.72%	6.54%	4.24%	1.39%
Ratios to Average Net Assets E
Expenses before reductions	.45% A	.45%	.45%	.45%	.45%	.45%
Expenses net of fee waivers, if any	.45% A	.45%	.45%	.45%	.45%	.45%
Expenses net of all reductions	.45% A	.45%	.44%	.44%	.44%	.44%
Net investment income	1.46% A	1.96%	3.22%	4.31%	4.03%	3.05%
Supplemental Data
Net assets, end of period (000 omitted)	$ 511,389	$ 538,834	$ 612,529	$ 366,581	$ 343,125	$ 428,686
Portfolio turnover rate	252% A	347%	238%	257%	126%	96%

^A Annualized

^B Total returns for periods of less than one year are not annualized.

^C Total returns would have been lower had certain expenses not been reduced during the periods shown.

^D Calculated based on average shares outstanding during the period.

^E Expense ratios reflect operating expenses of the Fund. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the Fund during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the Fund.

^F The amount shown for a share outstanding does not correspond with the aggregate net gain (loss) on investments for the period due to the timing of sales and repurchases of shares in relation to fluctuating market values of the investments of the Fund.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

Notes to Financial Statements

For the period ended May 31, 2010 (Unaudited)

1. Organization.

Fidelity Institutional Short-Intermediate Government Fund (the Fund) is a fund of Fidelity Advisor Series IV (the trust) and is authorized to issue an unlimited number of shares. The trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company organized as a Massachusetts business trust.

2. Significant Accounting Policies.

The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America, which require management to make certain estimates and assumptions at the date of the financial statements. Actual results could differ from those estimates. The following summarizes the significant accounting policies of the Fund:

Security Valuation. Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. The Fund uses independent pricing services approved by the Board of Trustees to value its investments. When current market prices or quotations are not readily available or reliable, valuations may be determined in good faith in accordance with procedures adopted by the Board of Trustees. Factors used in determining value may include market or security specific events, changes in interest rates and credit quality. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The value used for net asset value (NAV) calculation under these procedures may differ from published prices for the same securities.

The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels as shown below.

Level 1 - quoted prices in active markets for identical investments

Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, etc.)

Level 3 - unobservable inputs (including the fund's own assumptions based on the best information available)

Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. The aggregate value of investments by input level, as of May 31, 2010, for the Fund's investments, as well as a roll forward of Level 3 securities, is included at the end of the Fund's Schedule of Investments. Valuation techniques used to value the Fund's investments by major category are as follows.

Semiannual Report

2. Significant Accounting Policies - continued

Security Valuation - continued

Debt securities, including restricted securities, are valued based on evaluated prices received from independent pricing services or from dealers who make markets in such securities. For U.S. government and government agency obligations, pricing services utilize matrix pricing which considers yield or price of bonds of comparable quality, coupon, maturity and type as well as dealer supplied prices and are generally categorized as Level 2 in the hierarchy. For collateralized mortgage obligations and U.S. government agency mortgage securities, pricing services utilize matrix pricing which considers prepayment speed assumptions, attributes of the collateral, yield or price of bonds of comparable quality, coupon, maturity and type as well as dealer supplied prices and, accordingly, such securities are generally categorized as Level 2 in the hierarchy. Short-term securities with remaining maturities of sixty days or less for which quotations are not readily available are valued at amortized cost, which approximates value and are categorized as Level 2 in the hierarchy.

When independent prices are unavailable or unreliable, debt securities may be valued utilizing pricing matrices which consider similar factors that would be used by independent pricing services. These are generally categorized as Level 2 in the hierarchy but may be Level 3 depending on the circumstances.

Futures contracts are valued at the settlement price established each day by the board of trade or exchange on which they are traded and are categorized as Level 1 in the hierarchy.

Investment Transactions and Income. For financial reporting purposes, the Fund's investment holdings and NAV include trades executed through the end of the last business day of the period. The NAV per share for processing shareholder transactions is calculated as of the close of business of the New York Stock Exchange (NYSE), normally 4:00 p.m. Eastern time and includes trades executed through the end of the prior business day. Gains and losses on securities sold are determined on the basis of identified cost. Interest income is accrued as earned. Interest income includes coupon interest and amortization of premium and accretion of discount on debt securities. Inflation-indexed bonds are fixed-income securities whose principal value is periodically adjusted to the rate of inflation. Interest is accrued based on the principal value, which is adjusted for inflation. The adjustments to principal due to inflation are reflected as increases or decreases to interest income even though principal is not received until maturity.

Expenses. Most expenses of the trust can be directly attributed to a fund. Expenses which cannot be directly attributed are apportioned among each Fund in the trust. Expense estimates are accrued in the period to which they relate and adjustments are made when actual amounts are known.

Semiannual Report

Notes to Financial Statements (Unaudited) - continued

2. Significant Accounting Policies - continued

Income Tax Information and Distributions to Shareholders. Each year, the Fund intends to qualify as a regulated investment company by distributing substantially all of its taxable income and realized gains under Subchapter M of the Internal Revenue Code and filing its U.S. federal tax return. As a result, no provision for income taxes is required. A Fund's federal tax return is subject to examination by the Internal Revenue Service (IRS) for a period of three years.

Dividends are declared daily and paid monthly from net investment income. Distributions from realized gains, if any, are recorded on the ex-dividend date. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from generally accepted accounting principles.

Capital accounts within the financial statements are adjusted for permanent book-tax differences. These adjustments have no impact on net assets or the results of operations. Temporary book-tax differences will reverse in a subsequent period.

Book-tax differences are primarily due to futures transactions, swap agreements, market discount, deferred trustees compensation, financing transactions, and capital loss carryforwards, and losses deferred due to wash sales.

The federal tax cost of investment securities and unrealized appreciation (depreciation) as of period end were as follows:

Gross unrealized appreciation	$ 7,618,138
Gross unrealized depreciation	(54,250)
Net unrealized appreciation (depreciation)	$ 7,563,888
Tax cost	$ 508,546,366

3. Operating Policies.

Repurchase Agreements. Fidelity Management & Research Company (FMR) has received an Exemptive Order from the Securities and Exchange Commission (the SEC) which permits the Fund and other affiliated entities of FMR to transfer uninvested cash balances into joint trading accounts which are then invested in repurchase agreements. The Fund may also invest directly with institutions in repurchase agreements. Repurchase agreements are collateralized by government or non-government securities. Upon settlement date, collateral is held in segregated accounts with custodian banks and may be obtained in the event of a default of the counterparty. The Fund monitors, on a daily basis, the value of the collateral to ensure it is at least equal to the principal amount of

Semiannual Report

3. Operating Policies - continued

Repurchase Agreements - continued

the repurchase agreement (including accrued interest). In the event of a default by the counterparty, realization of the collateral proceeds could be delayed, during which time the value of the collateral may decline.

4. Derivative Instruments.

Risk Exposures and the Use of Derivative Instruments. The Fund uses derivative instruments (derivatives), including futures contracts and swap agreements in order to meet its investment objectives. The strategy is to use derivatives to increase returns, to gain exposure to certain types of assets and to manage exposure to certain risks as defined below. The success of any strategy involving derivatives depends on analysis of numerous economic factors, and if the strategies for investment do not work as intended, the Fund may not achieve its objectives.

The Fund's use of derivatives may increase or decrease its exposure to the following risk:

Interest Rate Risk Interest rate risk relates to the fluctuations in the value of interest-bearing securities due to changes in the prevailing levels of market interest rates.

The Fund is also exposed to additional risks from investing in derivatives, such as liquidity risk and counterparty credit risk. Liquidity risk is the risk that the Fund will be unable to sell the derivative in the open market in a timely manner. Counterparty credit risk is the risk that the counterparty will not be able to fulfill its obligation to the Fund. Derivative counterparty credit risk is managed through formal evaluation of the creditworthiness of all potential counterparties. On certain over-the-counter derivatives, the Fund attempts to reduce its exposure to counterparty credit risk by entering into an International Swaps and Derivatives Association (ISDA) Master Agreement on a bilateral basis with each of its counterparties. The ISDA Master Agreement gives each counterparty the right to terminate all transactions traded under such agreement if there is a certain deterioration in the credit quality of the other party. The ISDA Master Agreement gives the Fund the right, upon an event of default by the applicable counterparty or a termination of the agreement, to close out all transactions traded under such agreement and to net amounts owed under each transaction to one net payable by one party to the other. To mitigate counterparty credit risk, the Fund offsets certain payables and/or receivables with collateral. Collateral, in the form of cash or securities, may be required to be held in segregated accounts with the Fund's custodian bank in accordance with the collateral agreements entered into between the Fund, the swap counterparty and the

Semiannual Report

Notes to Financial Statements (Unaudited) - continued

4. Derivative Instruments - continued

Risk Exposures and the Use of Derivative Instruments - continued

Fund's custodian bank and, if required, is identified in the Schedule of Investments. The Fund could experience delays and costs in gaining access to the collateral even though it is held by the Fund's custodian bank. The Fund's maximum risk of loss from counterparty credit risk is generally the aggregate unrealized appreciation and unpaid counterparty fees in excess of any collateral pledged by the counterparty to the Fund. Counterparty risk related to exchange-traded futures contracts is minimal because of the protection provided by the exchange on which they trade. Risk of loss may exceed the amounts recognized in the Statement of Assets and Liabilities.

Net Realized Gain (Loss) and Change in Net Unrealized Appreciation (Depreciation) on Derivatives. The table below, which reflects the impacts of derivatives on the financial performance of the Fund, summarizes the net realized gain (loss) and change in net unrealized appreciation (depreciation) for derivatives during the period.

Risk Exposure / Derivative Type	Net Realized Gain (Loss)	Change in Net Unrealized Appreciation (Depreciation)
Interest Rate Risk
Futures Contracts	$ 8,416	$ 11,108
Swap Agreements	(63,345)	164,068
Totals (a)(b)(c)	$ (54,929)	$ 175,176

(a) A summary of the value of derivatives by risk exposure as of period end, if any, is included at the end of the Schedule of Investments and is representative of activity for the period.

(b) Total derivatives net realized gain (loss) included in the Statement of Operations is comprised of $8,416 for futures contracts and $(63,345) for swap agreements.

(c) Total derivatives change in net unrealized appreciation (depreciation) included in the Statement of Operations is comprised of $11,108 for futures contracts and $164,068 for swap agreements.

Futures Contracts. A futures contract is an agreement between two parties to buy or sell a specified underlying instrument for a fixed price at a specified future date. The Fund uses futures contracts to manage its exposure to the bond market, and to fluctuations in interest rates.

Upon entering into a futures contract, a fund is required to deposit either cash or securities (initial margin) with a clearing broker in an amount equal to a certain percentage of the face value of the contract. Futures contracts are marked-to-market daily and subsequent payments (variation margin) are made or received by a fund depending on the daily fluctuations in the value of the futures contracts and are recorded as unrealized appreciation or (depreciation). Realized gain or (loss) is recorded upon the expiration or closing of a futures contract. The net realized gain (loss) and change in net unrealized appreciation (depreciation) on futures contracts during the period is included in the Statement of Operations.

Semiannual Report

4. Derivative Instruments - continued

Futures Contracts - continued

The underlying face amount at value of open futures contracts at period end, if any, is shown in the Schedule of Investments under the caption "Futures Contracts." This amount reflects each contract's exposure to the underlying instrument at period end. Securities deposited to meet initial margin requirements are identified in the Schedule of Investments. The receivable and/or payable for the variation margin are reflected in the Statement of Assets and Liabilities.

Certain risks may arise upon entering into futures contracts, including the risk that an illiquid market may limit the ability to close out a futures contract prior to settlement date.

Swap Agreements. A swap agreement (swap) is a contract between two parties to exchange future cash flows at periodic intervals based on a notional principal amount.

Details of swaps open at period end, if any, are included in the Schedule of Investments under the caption "Swap Agreements." Swaps are marked-to-market daily and changes in value are recorded as unrealized appreciation or (depreciation) and reflected in the Statement of Assets and Liabilities. Any upfront payments made or received upon entering a swap to compensate for differences between stated terms of the agreement and prevailing market conditions (e.g. credit spreads, interest rates or other factors) are recorded as realized gain or (loss) ratably over the term of the swap. Payments are exchanged at specified intervals, accrued daily commencing with the effective date of the contract and recorded as realized gain or (loss). Realized gain or (loss) is also recorded in the event of an early termination of a swap. The net realized gain (loss) and change in net unrealized appreciation (depreciation) on swaps during the period is included in the Statement of Operations.

Risks of loss may include interest rate risk. In addition, there is the risk of failure by the counterparty to perform under the terms of the agreement and lack of liquidity in the market.

Interest Rate Swaps. Interest rate swaps are agreements between counterparties to exchange cash flows, one based on a fixed rate, and the other on a floating rate. The Fund entered into interest rate swaps to manage its exposure to interest rate changes. Changes in interest rates can have an effect on both the value of bond holdings as well as the amount of interest income earned. In general, the value of bonds can fall when interest rates rise and can rise when interest rates fall.

Semiannual Report

Notes to Financial Statements (Unaudited) - continued

5. Purchases and Sales of Investments.

Purchases and sales of securities, other than short-term securities and U.S. government securities, aggregated $6,461,864 and $4,282,245, respectively.

6. Fees and Other Transactions with Affiliates.

Management Fee. FMR and its affiliates provide the Fund with investment management related services for which the Fund pays a monthly management fee that is based on an annual rate of .45% of the Fund's average net assets. FMR pays all other expenses, except the compensation of the independent Trustees and certain exceptions such as interest expense, including commitment fees. The management fee paid to FMR by the Fund is reduced by an amount equal to the fees and expenses paid by the Fund to the independent Trustees.

7. Committed Line of Credit.

The Fund participates with other funds managed by FMR in a $3.75 billion credit facility (the "line of credit") to be utilized for temporary or emergency purposes to fund shareholder redemptions or for other short-term liquidity purposes. The Fund has agreed to pay commitment fees on its pro-rata portion of the line of credit, which amounted to $1,098 and is reflected in Miscellaneous Expense on the Statement of Operations. During the period, there were no borrowings on this line of credit.

8. Expense Reductions.

Through arrangements with the Fund's custodian, credits realized as a result of uninvested cash balances were used to reduce the Fund's management fee. During the period, these credits reduced the Fund's management fee by $3.

9. Other.

The Fund's organizational documents provide former and current trustees and officers with a limited indemnification against liabilities arising in connection with the performance of their duties to the Fund. In the normal course of business, the Fund may also enter into contracts that provide general indemnifications. The Fund's maximum exposure under these arrangements is unknown as this would be dependent on future claims that may be made against the Fund. The risk of material loss from such claims is considered remote.

Semiannual Report

Managing Your Investments

Fidelity offers several ways to conveniently manage your personal investments via your telephone or PC. You can access your account information, conduct trades and research your investments 24 hours a day.

By Phone

Fidelity Automated Service Telephone provides a single toll-free number to access account balances, positions, quotes and trading. It's easy to navigate the service, and on your first call, the system will help you create a personal identification number (PIN) for security.

(phone_graphic)
Fidelity Automated
Service Telephone (FAST®)
1-800-544-5555

Press

For mutual fund and brokerage trading.

For quotes.*

For account balances and holdings.

To review orders and mutual
fund activity.

To change your PIN.

To speak to a Fidelity representative.

By PC

Fidelity's web site on the Internet provides a wide range of information, including daily financial news, fund performance, interactive planning tools and news about Fidelity products and services.

(computer_graphic)
Fidelity's Web Site
www.fidelity.com

* When you call the quotes line, please remember that a fund's yield and return will vary and, except for money market funds, share price will also vary. This means that you may have a gain or loss when you sell your shares. There is no assurance that money market funds will be able to maintain a stable $1 share price; an investment in a money market fund is not insured or guaranteed by the U.S. government. Total returns are historical and include changes in share price, reinvestment of dividends and capital gains, and the effects of any sales charges.

Semiannual Report

To Visit Fidelity

For directions and hours, 
please call 1-800-544-9797.

Arizona

7001 West Ray Road
Chandler, AZ

15445 N. Scottsdale Road
Scottsdale, AZ

17550 North 75th Avenue
Glendale, AZ

5330 E. Broadway Blvd
Tucson, AZ

California

815 East Birch Street
Brea, CA

1411 Chapin Avenue
Burlingame, CA

851 East Hamilton Avenue
Campbell, CA

601 Larkspur Landing Circle
Larkspur, CA

2000 Avenue of the Stars
Los Angeles, CA

27101 Puerta Real
Mission Viejo, CA

73575 El Paseo
Palm Desert, CA

251 University Avenue
Palo Alto, CA

123 South Lake Avenue
Pasadena, CA

16656 Bernardo Ctr. Drive
Rancho Bernardo, CA

1220 Roseville Parkway
Roseville, CA

1740 Arden Way
Sacramento, CA

7676 Hazard Center Drive
San Diego, CA

11943 El Camino Real
San Diego, CA

8 Montgomery Street
San Francisco, CA

3793 State Street
Santa Barbara, CA

1200 Wilshire Boulevard
Santa Monica, CA

398 West El Camino Real
Sunnyvale, CA

111 South Westlake Blvd
Thousand Oaks, CA

21701 Hawthorne Boulevard
Torrance, CA

2001 North Main Street
Walnut Creek, CA

6326 Canoga Avenue
Woodland Hills, CA

2211 Michelson Drive
Irvine, CA

Colorado

281 East Flatiron Circle
Broomfield, CO

1625 Broadway
Denver, CO

9185 Westview Road
Lone Tree, CO

Connecticut

48 West Putnam Avenue
Greenwich, CT

265 Church Street
New Haven, CT

300 Atlantic Street
Stamford, CT

29 South Main Street
West Hartford, CT

1261 Post Road
Fairfield, CT

Delaware

400 Delaware Avenue
Wilmington, DE

Florida

175 East Altamonte Drive
Altamonte Springs, FL

1400 Glades Road
Boca Raton, FL

121 Alhambra Plaza
Coral Gables, FL

2948 N. Federal Highway
Ft. Lauderdale, FL

4671 Town Center Parkway
Jacksonville, FL

8880 Tamiami Trail, North
Naples, FL

230 Royal Palm Way
Palm Beach, FL

3501 PGA Boulevard
Palm Beach Gardens, FL

3550 Tamiami Trail, South
Sarasota, FL

1502 N. Westshore Blvd.
Tampa, FL

2465 State Road 7
Wellington, FL

Georgia

3242 Peachtree Road
Atlanta, GA

1000 Abernathy Road
Atlanta, GA

Illinois

One North LaSalle Street
Chicago, IL

401 North Michigan Avenue
Chicago, IL

One Skokie Valley Road
Highland Park, IL

1415 West 22nd Street
Oak Brook, IL

15105 S LaGrange Road
Orland Park, IL

1572 East Golf Road
Schaumburg, IL

1823 Freedom Drive
Naperville, IL

Indiana

8480 Keystone Crossing
Indianapolis, IN

Kansas

5400 College Boulevard
Overland Park, KS

Maine

Three Canal Plaza
Portland, ME

Maryland

7315 Wisconsin Avenue
Bethesda, MD

610 York Road
Towson, MD

Massachusetts

801 Boylston Street
Boston, MA

155 Congress Street
Boston, MA

300 Granite Street
Braintree, MA

44 Mall Road
Burlington, MA

238 Main Street
Cambridge, MA

200 Endicott Street
Danvers, MA

Fidelity Brokerage Services, Inc., 100 Summer St., Boston, MA 02110 Member NYSE/SIPC

Semiannual Report

405 Cochituate Road
Framingham, MA

551 Boston Turnpike
Shrewsbury, MA

Michigan

500 E. Eisenhower Pkwy.
Ann Arbor, MI

280 N. Old Woodward Ave.
Birmingham, MI

30200 Northwestern Hwy.
Farmington Hills, MI

43420 Grand River Avenue
Novi, MI

3480 28th Street
Grand Rapids, MI

2425 S. Linden Road STE E
Flint, MI

Minnesota

7740 France Avenue South
Edina, MN

8342 3rd Street North
Oakdale, MN

Missouri

1524 South Lindbergh Blvd.
St. Louis, MO

Nevada

2225 Village Walk Drive
Henderson, NV

New Jersey

501 Route 73 South
Marlton, NJ

150 Essex Street
Millburn, NJ

35 Morris Street
Morristown, NJ

396 Route 17, North
Paramus, NJ

3518 Route 1 North
Princeton, NJ

530 Broad Street
Shrewsbury, NJ

New Mexico

2261 Q Street NE
Albuquerque, NM

New York

1130 Franklin Avenue
Garden City, NY

37 West Jericho Turnpike
Huntington Station, NY

1271 Avenue of the Americas
New York, NY

980 Madison Avenue
New York, NY

61 Broadway
New York, NY

350 Park Avenue
New York, NY

200 Fifth Avenue
New York, NY

733 Third Avenue
New York, NY

2070 Broadway
New York, NY

1075 Northern Blvd.
Roslyn, NY

799 Central Park Avenue
Scarsdale, NY

3349 Monroe Avenue
Rochester, NY

North Carolina

4611 Sharon Road
Charlotte, NC

7011 Fayetteville Road
Durham, NC

Ohio

3805 Edwards Road
Cincinnati, OH

1324 Polaris Parkway
Columbus, OH

1800 Crocker Road
Westlake, OH

28699 Chagrin Boulevard
Woodmere Village, OH

Oregon

7493 SW Bridgeport Road
Tigard, OR

Pennsylvania

600 West DeKalb Pike
King of Prussia, PA

1735 Market Street
Philadelphia, PA

12001 Perry Highway
Wexford, PA

Rhode Island

10 Memorial Boulevard
Providence, RI

Tennessee

3018 Peoples Street
Johnson City, TN

7628 West Farmington Blvd.
Germantown, TN

2035 Mallory Lane
Franklin, TN

Texas

10000 Research Boulevard
Austin, TX

4001 Northwest Parkway
Dallas, TX

12532 Memorial Drive
Houston, TX

2701 Drexel Drive
Houston, TX

6560 Fannin Street
Houston, TX

1701 Lake Robbins Drive
The Woodlands, TX

6500 N. MacArthur Blvd.
Irving, TX

6005 West Park Boulevard
Plano, TX

1576 East Southlake Blvd.
Southlake, TX

15600 Southwest Freeway
Sugar Land, TX

139 N. Loop 1604 East
San Antonio, TX

Utah

279 West South Temple
Salt Lake City, UT

Virginia

1861 International Drive
McLean, VA

11957 Democracy Drive
Reston, VA

Washington

10500 NE 8th Street
Bellevue, WA

1518 6th Avenue
Seattle, WA

304 Strander Blvd
Tukwila, WA

Washington, DC

1900 K Street, N.W.
Washington, DC

Wisconsin

16020 West Bluemound Road
Brookfield, WI

Semiannual Report

Investment Adviser

Fidelity Management & Research Company

Boston, MA

Investment Sub-Advisers

Fidelity Investments Money
Management, Inc.

FIL Investment Advisors

FIL Investment Advisors (U.K.) Ltd.

Fidelity Management & Research
(U.K.) Inc.

Fidelity Management & Research
(Hong Kong) Limited

Fidelity Management & Research
(Japan) Inc.

Fidelity Research & Analysis Company

General Distributor

Fidelity Distributors Corporation

Boston, MA

Transfer and Service Agents

Fidelity Investments Institutional Operations Company, Inc.

Boston, MA 

Fidelity Service Company, Inc.

Boston, MA 

Custodian

The Bank of New York Mellon

New York, NY

The Fidelity Telephone Connection

Mutual Fund 24-Hour Service

Exchanges/Redemptions

and Account Assistance 1-800-544-6666

Product Information 1-800-544-6666

Retirement Accounts 1-800-544-4774
(8 a.m. - 9 p.m.)

TDD Service 1-800-544-0118
for the deaf and hearing impaired
(9 a.m. - 9 p.m. Eastern time)

Fidelity Automated Service
Telephone (FAST^®) 1-800-544-5555

Automated line for quickest service

ISIG-USAN-0710
1.786814.107

Item 2. Code of Ethics

Not applicable.

Item 3. Audit Committee Financial Expert

Not applicable.

Item 4. Principal Accountant Fees and Services

Not applicable.

Item 5. Audit Committee of Listed Registrants

Not applicable.

Item 6. Investments

(a) Not applicable.

(b) Not applicable

Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies

Not applicable.

Item 8. Portfolio Managers of Closed-End Management Investment Companies

Not applicable.

Item 9. Purchase of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers

Not applicable.

Item 10. Submission of Matters to a Vote of Security Holders

There were no material changes to the procedures by which shareholders may recommend nominees to the Fidelity Advisor Series IV's Board of Trustees.

Item 11. Controls and Procedures

(a)(i) The President and Treasurer and the Chief Financial Officer have concluded that the Fidelity Advisor Series IV's (the "Trust") disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act) provide reasonable assurances that material information relating to the Trust is made known to them by the appropriate persons, based on their evaluation of these controls and procedures as of a date within 90 days of the filing date of this report.

(a)(ii) There was no change in the Trust's internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act) that occurred during the second fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the Trust's internal control over financial reporting.

Item 12. Exhibits

(a)	(1)	Not applicable.
(a)	(2)	Certification pursuant to Rule 30a-2(a) under the Investment Company Act of 1940 (17 CFR 270.30a-2(a)) is filed and attached hereto as Exhibit 99.CERT.
(a)	(3)	Not applicable.
(b)		Certification pursuant to Rule 30a-2(b) under the Investment Company Act of 1940 (17 CFR 270.30a-2(b)) is furnished and attached hereto as Exhibit 99.906CERT.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Fidelity Advisor Series IV

By:	/s/ John R. Hebble
	John R. Hebble
	President and Treasurer
Date:	July 27, 2010

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

By:	/s/ John R. Hebble
	John R. Hebble
	President and Treasurer
Date:	July 27, 2010

By:	/s/ Christine Reynolds
	Christine Reynolds
	Chief Financial Officer
Date:	July 27, 2010