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FLATX Fidelity® Latin America

  • Fund
  • FLATX
  • Price as of: Nov 16, 2018
  • $22.55
  • + $0.54
  • + 2.45%
  • Category
  • Latin America Equities

FLATX - Profile

Vitals

  • YTD Return -7.9%
  • 3 Yr Annualized Return 8.9%
  • 5 Yr Annualized Return -5.1%
  • Net Assets $474 M
  • Holdings in Top 10 49.4%

52 WEEK LOW AND HIGH

$22.55
$19.88
$27.94

Expenses

OPERATING RELATED FEES

  • Expense Ratio 1.09%

SALES FEES

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

BROKERAGE FEES

  • Turnover 51.00%

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 -7.9%
  • 3 Yr Annualized Total Return 8.9%
  • 5 Yr Annualized Total Return -5.1%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.19%
DIVIDENDS
  • Dividend Yield 0.1%
  • 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 -7.9% -8.8% 41.4% 68.75% 5
1 Yr -10.5% -29.5% 24.3% 65.52% 4
3 Yr 8.9% * -16.9% 16.3% 34.62% 2
5 Yr -5.1% * -14.8% 0.2% 76.47% 4
10 Yr 2.7% * -3.2% 6.2% 52.94% 3

* Annualized


Return Ranking - Calendar

Period FLATX Return Category Return Low Category Return High Rank in Category (%) Quintile
2017 28.5% -32.6% 28.6% 12.50% 1
2016 16.7% -32.6% 29.9% 41.38% 2
2015 -31.4% -32.7% 0.0% 69.57% 4
2014 -23.9% -26.9% 0.0% 78.95% 5
2013 -32.5% -32.5% 14.1% 88.89% 5

Total Return Ranking - Trailing

Period FLATX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD -7.9% -8.8% 42.7% 68.75% 5
1 Yr -10.5% -32.3% 25.2% 65.52% 4
3 Yr 8.9% * -17.5% 16.3% 34.62% 2
5 Yr -5.1% * -15.1% 0.2% 76.47% 4
10 Yr 2.7% * -3.2% 6.2% 52.94% 3

* Annualized


Total Return Ranking - Calendar

Period FLATX Return Category Return Low Category Return High Rank in Category (%) Quintile
2017 28.5% -32.6% 28.6% 12.50% 1
2016 16.7% -32.1% 29.9% 44.83% 3
2015 -30.3% -32.7% 0.0% 47.83% 3
2014 -17.5% -18.1% 0.0% 73.68% 4
2013 -22.2% -22.5% 14.7% 72.22% 4

NAV & Total Return History

FLATX - Holdings

Filings data as of: Sep 30, 2018

Concentration Analysis

FLATX Category Low Category High FLATX % Rank Quintile
Net Assets 474 M 3.73 M 554 M 9.38% 1
Number of Holdings 39 1 64 25.00% 4
Net Assets in Top 10 226 M 0 282 M 6.25% 1
Weighting of Top 10 49.4% 0.0% 58.3% 18.75% 3

Top 10 Holdings

  1. Itau Unibanco Holding SA Participating Preferred 3.98%
  2. Credicorp Ltd 4.04%
  3. Itausa Investimentos ITAU SA Participating Preferred 10.63%
  4. Petroleo Brasileiro SA Petrobras Participating Preferred 5.62%
  5. Credito Real SAB de CV Sofom ER 4.40%
  6. Suzano Papel E Celulose SA 6.47%
  7. Qualicorp Consultoria E Corretora De Seguros SA 3.23%
  8. Azul SA ADR 3.67%
  9. Genomma Lab Internacional SAB de CV 3.78%
  10. Banco del Bajio SA 3.61%

Asset Allocation

Weighting Category Low Category High FLATX % Rank Quintile
Stocks
97.80% 0.00% 99.95% 21.88% 3
Cash
2.20% 0.00% 100.00% 21.88% 3
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
37.44% 11.07% 37.44% 3.13% 1
Industrials
15.21% 2.24% 15.21% 3.13% 1
Healthcare
14.69% 0.00% 14.69% 3.13% 1
Basic Materials
9.64% 0.00% 19.86% 31.25% 3
Consumer Cyclical
6.91% 2.88% 28.06% 34.38% 4
Consumer Defense
6.24% 1.44% 30.03% 43.75% 5
Energy
5.62% 0.00% 11.75% 18.75% 2
Technology
2.06% 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% 7.07% 40.63% 4

Stock Geographic Breakdown

Weighting Category Low Category High FLATX % Rank Quintile
Non US
93.76% 0.00% 98.99% 21.88% 3
US
4.04% 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 1.09% 1.01% 5.94% 93.75% 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 51.00% 11.97% 437.65% 28.13% 3

FLATX - Distributions

Dividend Yield Analysis

FLATX Category Low Category High FLATX % Rank Quintile
Dividend Yield 0.1% 0.00% 1.15% 43.48% 3

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 2.19% -0.16% 4.28% 15.63% 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

3.04

Tenure Rank

19.2%

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


Tenure Analysis

Category Low

0.6

Category High

16.1

Category Average

4.54

Category Mode

0.5