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FLATX Fidelity® Latin America

  • Fund
  • FLATX
  • Price as of: Jan 23, 2019
  • $24.06
  • + $0.42
  • + 1.78%
  • Category
  • Latin America Equities

FLATX - Profile

Vitals

  • YTD Return 12.3%
  • 3 Yr Annualized Return 18.7%
  • 5 Yr Annualized Return -3.8%
  • Net Assets $477 M
  • Holdings in Top 10 55.6%

52 WEEK LOW AND HIGH

$24.06
$19.88
$27.94

Expenses

OPERATING RELATED FEES

  • Expense Ratio 1.07%

SALES FEES

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

BROKERAGE FEES

  • Turnover 53.00%

TRADING FEES

  • Max Redemption Fee 1.50%

Min Investment

STANDARD (TAXABLE)

$0

IRA

$2,500

Investment Themes

CATEGORY

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

Distributions

  • YTD Total Return 12.3%
  • 3 Yr Annualized Total Return 18.7%
  • 5 Yr Annualized Total Return -1.8%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.39%
DIVIDENDS
  • Dividend Yield 0.5%
  • 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 12.3% -5.0% 41.4% 37.50% 3
1 Yr -7.9% -29.5% 24.3% 72.41% 4
3 Yr 18.7% * -16.9% 24.8% 46.15% 3
5 Yr -3.8% * -14.8% 1.7% 88.24% 5
10 Yr -1.0% * -3.2% 6.2% 69.23% 4

* Annualized


Return Ranking - Calendar

Period FLATX Return Category Return Low Category Return High Rank in Category (%) Quintile
2018 -12.5% -32.6% 24.1% 62.50% 4
2017 28.5% -32.6% 28.6% 13.79% 1
2016 16.7% -13.6% 29.9% 52.17% 3
2015 -31.4% -32.7% 0.0% 63.16% 4
2014 -23.9% -26.9% 14.1% 83.33% 5

Total Return Ranking - Trailing

Period FLATX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 12.3% -5.0% 42.7% 37.50% 2
1 Yr -7.9% -32.3% 25.2% 72.41% 4
3 Yr 18.7% * -17.5% 24.8% 46.15% 3
5 Yr -1.8% * -15.1% 3.3% 58.82% 3
10 Yr 10.1% * -3.2% 24.3% 38.46% 2

* Annualized


Total Return Ranking - Calendar

Period FLATX Return Category Return Low Category Return High Rank in Category (%) Quintile
2018 -12.5% -32.6% 24.8% 62.50% 4
2017 28.5% -32.1% 28.6% 13.79% 1
2016 16.7% -31.5% 29.9% 52.17% 3
2015 -30.3% -32.7% 0.0% 42.11% 3
2014 -17.5% -18.1% 14.7% 77.78% 4

NAV & Total Return History

FLATX - Holdings

Filings data as of: Nov 30, 2018

Concentration Analysis

FLATX Category Low Category High FLATX % Rank Quintile
Net Assets 477 M 3.73 M 545 M 9.38% 1
Number of Holdings 36 1 64 25.00% 4
Net Assets in Top 10 261 M 0 282 M 6.25% 1
Weighting of Top 10 55.6% 0.0% 58.3% 9.38% 2

Top 10 Holdings

  1. Itau Unibanco Holding SA Participating Preferred 5.90%
  2. Itausa Investimentos ITAU SA Participating Preferred 13.22%
  3. Petroleo Brasileiro SA Petrobras Participating Preferred 9.70%
  4. Credito Real SAB de CV Sofom ER 3.13%
  5. Suzano Papel E Celulose SA 4.47%
  6. Azul SA ADR 5.34%
  7. Hapvida Participacoes Investimento SA Ordinary Shares 4.21%
  8. Notre Dame Intermedica Participacoes SA Ordinary Shares 3.30%
  9. Estacio Participacoes SA 3.37%
  10. Copa Holdings SA Class A 2.92%

Asset Allocation

Weighting Category Low Category High FLATX % Rank Quintile
Stocks
99.92% 0.00% 99.95% 6.25% 1
Cash
0.08% 0.00% 100.00% 40.63% 4
Preferred Stocks
0.00% 0.00% 13.22% 12.50% 5
Other
0.00% -0.39% 4.63% 21.88% 4
Convertible Bonds
0.00% 0.00% 0.25% 6.25% 3
Bonds
0.00% 0.00% 23.03% 12.50% 3

Stock Sector Breakdown

Weighting Category Low Category High FLATX % Rank Quintile
Financial Services
38.36% 11.07% 38.36% 3.13% 1
Industrials
16.89% 2.24% 16.89% 3.13% 1
Healthcare
14.57% 0.00% 14.57% 3.13% 1
Energy
9.70% 0.00% 11.75% 9.38% 2
Basic Materials
6.58% 0.00% 19.86% 34.38% 3
Consumer Cyclical
6.31% 2.88% 22.26% 34.38% 4
Consumer Defense
5.38% 1.44% 30.03% 43.75% 5
Technology
2.12% 0.00% 4.85% 15.63% 2
Utilities
0.00% 0.00% 14.73% 46.88% 5
Real Estate
0.00% 0.00% 7.94% 43.75% 5
Communication Services
0.00% 0.00% 5.78% 40.63% 4

Stock Geographic Breakdown

Weighting Category Low Category High FLATX % Rank Quintile
Non US
95.48% 0.00% 99.06% 12.50% 2
US
4.44% 0.00% 20.40% 18.75% 2

FLATX - Expenses

Operational Fees

FLATX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 1.07% 1.01% 5.94% 87.50% 1
Management Fee 0.69% 0.69% 1.25% 25.00% 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 53.00% 11.97% 437.65% 25.00% 3

FLATX - Distributions

Dividend Yield Analysis

FLATX Category Low Category High FLATX % Rank Quintile
Dividend Yield 0.5% 0.00% 1.15% 21.74% 2

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 2.39% -0.87% 2.45% 6.25% 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

3.21

Tenure Rank

15.1%

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


Tenure Analysis

Category Low

0.0

Category High

15.2

Category Average

3.92

Category Mode

4.0