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FLATX Fidelity® Latin America

  • Fund
  • FLATX
  • Price as of: Dec 09, 2016
  • $18.83
  • - $0.48
  • - 2.49%
  • Category
  • Latin America Equities

FLATX - Profile

Vitals

  • YTD Return 15.3%
  • 3 Yr Annualized Return -11.5%
  • 5 Yr Annualized Return -9.6%
  • Net Assets $537 M
  • Holdings in Top 10 48.1%

52 WEEK LOW AND HIGH

$18.83
$14.05
$22.82

Expenses

OPERATING RELATED FEES

  • Expense Ratio 1.13%

SALES FEES

  • Front Load N/A
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 30.00%

TRADING FEES

  • Max Redemption Fee 1.50%

Min Investment

STANDARD (TAXABLE)

$2,500

IRA

$2,500

Investment Themes

CATEGORY

Latin America Equities
  • Fund Type Open End Mutual Fund
  • Investment Style Latin America Stock

Distributions

  • YTD Total Return 15.3%
  • 3 Yr Annualized Total Return -11.5%
  • 5 Yr Annualized Total Return -9.6%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.53%
DIVIDENDS
  • Dividend Yield N/A
  • Dividend Distribution Frequency None

Fund Details

  • Legal Name Fidelity® Latin America Fund
  • Fund Family Name Fidelity Investments
  • Inception Date Apr 19, 1993
  • Shares Outstanding N/A
  • Share Class No Load
  • Currency USD
  • Domiciled Country United States
  • Manager William Pruett

Fund Description

The Fidelity Latin America Fund (FLATX) is an actively managed specialized fund that holds stocks located in Latin America. The fund can hold small-, mid- and large-cap stocks of firms domiciled in Mexico, Brazil, Argentina, Peru, Chile or other Latin American nations. FLATX can also hold other stocks/investments that are tied economically to Latin America.

Despite its low costs, FLATX’s narrow focus on one emerging-market region means that it is best suited as a satellite position in a broad equity portfolio. The fund is internally managed by Fidelity.

FLATX - Performance

Return Ranking - Trailing

Period FLATX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 15.3% -5.0% 41.4% 65.63% 4
1 Yr 13.8% -29.5% 25.9% 65.52% 4
3 Yr -11.5% * -16.9% -5.9% 80.00% 5
5 Yr -9.6% * -14.8% -3.8% 76.47% 4
10 Yr -2.3% * -3.3% 0.6% 78.57% 4

* Annualized


Return Ranking - Calendar

Period FLATX Return Category Return Low Category Return High Rank in Category (%) Quintile
2015 -31.4% -32.7% 0.0% 53.13% 4
2014 -23.9% -26.9% 0.0% 79.31% 5
2013 -32.5% -32.5% 0.0% 86.36% 5
2012 -5.3% -12.9% 14.1% 68.42% 4
2011 -17.2% -31.5% 0.0% 16.67% 1

Total Return Ranking - Trailing

Period FLATX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 15.3% -5.0% 42.7% 68.75% 4
1 Yr 13.8% -32.3% 25.9% 48.28% 3
3 Yr -11.5% * -17.5% -4.7% 76.00% 4
5 Yr -9.6% * -15.1% -3.8% 76.47% 4
10 Yr -2.3% * -3.3% 0.6% 78.57% 4

* Annualized


Total Return Ranking - Calendar

Period FLATX Return Category Return Low Category Return High Rank in Category (%) Quintile
2015 -30.3% -32.7% 0.0% 40.63% 3
2014 -17.5% -18.1% 0.0% 82.76% 5
2013 -22.2% -22.5% 0.0% 72.73% 4
2012 5.3% 0.0% 20.9% 63.16% 3
2011 -21.2% -34.3% 0.0% 22.22% 2

NAV & Total Return History

FLATX - Holdings

Filings data as of: Oct 31, 2016

Concentration Analysis

FLATX Category Low Category High FLATX % Rank Quintile
Net Assets 537 M 3.73 M 676 M 6.25% 1
Number of Holdings 46 1 65 28.13% 4
Net Assets in Top 10 308 M 0 338 M 6.25% 1
Weighting of Top 10 48.1% 0.0% 58.3% 21.88% 4

Top 10 Holdings

  1. Itau Unibanco Holding SA 10.12%
  2. Grupo Financiero Banorte SAB de CV Class O 4.81%
  3. Cielo SA 3.61%
  4. Credicorp Ltd 3.52%
  5. BB Seguridade Participacoes SA 2.77%
  6. Itausa Investimentos ITAU SA 4.47%
  7. Kroton Educacional SA 3.47%
  8. Ambev SA 6.27%
  9. Petroleo Brasileiro SA Petrobras 6.37%
  10. Smiles SA 2.65%

Asset Allocation

Weighting Category Low Category High FLATX % Rank Quintile
Stocks
98.19% 0.00% 100.00% 9.38% 2
Cash
1.81% 0.00% 100.00% 31.25% 4
Other
0.00% -0.39% 4.63% 18.75% 4
Convertible Bonds
0.00% 0.00% 0.02% 6.25% 3
Preferred Stocks
0.00% 0.00% 13.22% 15.63% 5
Bonds
0.00% 0.00% 23.03% 9.38% 3

Stock Sector Breakdown

Weighting Category Low Category High FLATX % Rank Quintile
Financial Services
38.73% 11.07% 38.73% 3.13% 1
Consumer Defense
18.98% 1.44% 30.64% 25.00% 4
Industrials
11.02% 2.24% 15.96% 18.75% 2
Consumer Cyclical
9.89% 2.33% 21.33% 25.00% 4
Energy
6.37% 0.00% 12.84% 18.75% 3
Technology
4.82% 0.00% 4.85% 6.25% 1
Healthcare
4.29% 0.00% 8.15% 6.25% 1
Utilities
1.86% 0.00% 14.73% 37.50% 4
Basic Materials
1.15% 0.00% 19.86% 37.50% 4
Real Estate
1.08% 0.00% 9.12% 37.50% 5
Communication Services
0.00% 0.00% 5.32% 37.50% 4

Stock Geographic Breakdown

Weighting Category Low Category High FLATX % Rank Quintile
Non US
94.09% 0.00% 96.44% 21.88% 3
US
4.10% 0.00% 20.40% 21.88% 2

FLATX - Expenses

Operational Fees

FLATX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 1.13% 1.06% 5.94% 87.50% 1
Management Fee 0.70% 0.70% 1.25% 21.88% 1
12b-1 Fee N/A 0.00% 1.00% N/A N/A
Administrative Fee N/A 0.08% 0.25% N/A N/A

Sales Fees

FLATX Fees (% of AUM) Category Low Category High FLATX Rank Quintile
Front Load N/A 3.50% 5.75% N/A N/A
Deferred Load N/A 1.00% 5.00% N/A N/A

Trading Fees

FLATX Fees (% of AUM) Category Low Category High FLATX Rank Quintile
Max Redemption Fee 1.50% 1.50% 2.00% 8.00% 2

Turnover Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

FLATX Fees (% of AUM) Category Low Category High FLATX Rank Quintile
Turnover 30.00% 11.97% 437.65% 21.88% 3

FLATX - Distributions

Dividend Yield Analysis

FLATX Category Low Category High FLATX % Rank Quintile
Dividend Yield N/A 0.01% 0.58% N/A N/A

Dividend Distribution Analysis

FLATX Category Low Category High Category Mode
Dividend Distribution Frequency None Annually Quarterly Annually

Dividend Payout History


Net Income Ratio Analysis

FLATX Category Low Category High FLATX % Rank Quintile
Net Income Ratio 1.53% -0.27% 1.76% 12.50% 1

Capital Gain Distribution Analysis

FLATX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

FLATX - Managers

William Pruett

Manager

Start Date

Oct 16, 2015

Tenure

1.13

Tenure Rank

23.3%

Since joining Fidelity Investments in 2008, Mr. Pruett has worked as a research analyst and a portfolio manager.


Tenure Analysis

Category Low

0.4

Category High

14.2

Category Average

3.97

Category Mode

1.9