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FSAMX Strategic Advisers® Emerging Markets

  • Fund
  • FSAMX
  • Price as of: Dec 15, 2017
  • $11.23
  • + $0.02
  • + 0.18%
  • Category
  • Emerging Markets Equities

FSAMX - Profile

Vitals

  • YTD Return 33.8%
  • 3 Yr Annualized Return 5.7%
  • 5 Yr Annualized Return 4.8%
  • Net Assets $5.04 B
  • Holdings in Top 10 41.6%

52 WEEK LOW AND HIGH

$11.23
$8.30
$11.57

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.60%

SALES FEES

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

BROKERAGE FEES

  • Turnover 23.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

STANDARD (TAXABLE)

$0

IRA

N/A

Investment Themes

CATEGORY

Emerging Markets Equities
  • Fund Type Open End Mutual Fund
  • Investment Style Diversified Emerging Mkts

Distributions

  • YTD Total Return 33.8%
  • 3 Yr Annualized Total Return 5.7%
  • 5 Yr Annualized Total Return 4.8%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.23%
DIVIDENDS
  • Dividend Yield 0.1%
  • Dividend Distribution Frequency Annually

Fund Details

  • Legal Name Strategic Advisers® Emerging Markets Fund
  • Fund Family Name Fidelity Investments
  • Inception Date Sep 30, 2010
  • Shares Outstanding N/A
  • Share Class Other
  • Currency USD
  • Domiciled Country United States
  • Manager John R. Chisholm

Fund Description

The fund normally invests at least 80% of assets in securities of issuers in emerging markets (countries that have an emerging stock market as defined by MSCI, countries or markets with low- to middle-income economies as classified by the World Bank, and other countries or markets with similar emerging characteristics) and other investments that are tied economically to emerging markets and in shares of other emerging markets equity funds. It primarily invests in common stocks. The fund allocates investments across different emerging market countries.

FSAMX - Performance

Return Ranking - Trailing

Period FSAMX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 33.8% -29.2% 130.6% 26.17% 2
1 Yr 33.7% -38.0% 57.7% 28.20% 2
3 Yr 5.7% * -13.2% 10.8% 43.41% 3
5 Yr 4.8% * -11.8% 14.4% 46.60% 3
10 Yr N/A * -4.6% 7.6% N/A N/A

* Annualized


Return Ranking - Calendar

Period FSAMX Return Category Return Low Category Return High Rank in Category (%) Quintile
2016 9.8% -32.2% 248.4% 22.05% 2
2015 -16.9% -47.4% 3.8% 60.19% 4
2014 -3.9% -40.7% 42.6% 38.64% 3
2013 -3.5% -30.3% 32.4% 54.86% 3
2012 17.6% -23.9% 37.9% 45.78% 3

Total Return Ranking - Trailing

Period FSAMX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 33.8% -11.8% 130.6% 26.44% 2
1 Yr 33.7% -25.4% 55.8% 22.66% 2
3 Yr 5.7% * -11.1% 10.8% 38.75% 2
5 Yr 4.8% * -12.2% 14.4% 43.71% 3
10 Yr N/A * -4.6% 7.6% N/A N/A

* Annualized


Total Return Ranking - Calendar

Period FSAMX Return Category Return Low Category Return High Rank in Category (%) Quintile
2016 9.8% -24.1% 248.4% 23.85% 2
2015 -15.9% -24.6% 6.9% 64.86% 4
2014 -2.4% -17.4% 60.9% 42.62% 3
2013 -2.3% -14.9% 60.9% 55.34% 3
2012 21.9% -36.9% 83.1% 30.23% 2

NAV & Total Return History

FSAMX - Holdings

Filings data as of: Oct 31, 2017

Concentration Analysis

FSAMX Category Low Category High FSAMX % Rank Quintile
Net Assets 5.04 B 272 88.9 B 2.75% 1
Number of Holdings 626 1 4792 3.19% 1
Net Assets in Top 10 2.15 B 0 15.3 B 2.17% 1
Weighting of Top 10 41.6% 0.0% 188.6% 3.91% 1

Top 10 Holdings

  1. Lazard Emerging Markets Equity Instl 3.00%
  2. Aberdeen Emerging Markets Instl Svc 2.78%
  3. Fidelity® Emerging Markets 7.41%
  4. Oppenheimer Developing Markets I 3.09%
  5. Parametric Emerging Markets Investor 2.81%
  6. GMO Emerging Markets IV 3.20%
  7. Causeway Emerging Markets Investor 7.84%
  8. iShares MSCI China ETF 5.28%
  9. MINI MSCI EMG MKT DEC17 MESZ7 3.17%
  10. Samsung Electronics Co Ltd 3.01%

Asset Allocation

Weighting Category Low Category High FSAMX % Rank Quintile
Stocks
94.91% 0.00% 100.54% 18.70% 3
Cash
4.37% -68.34% 100.00% 6.38% 1
Other
0.39% -1.53% 31.18% 17.83% 3
Preferred Stocks
0.30% 0.00% 14.58% 11.45% 2
Bonds
0.02% 0.00% 95.53% 6.96% 2
Convertible Bonds
0.00% 0.00% 11.12% 2.03% 4

Stock Sector Breakdown

Weighting Category Low Category High FSAMX % Rank Quintile
Technology
25.09% 0.00% 36.11% 9.72% 2
Financial Services
22.55% 0.00% 45.48% 13.21% 3
Consumer Cyclical
11.18% 0.00% 31.89% 17.71% 3
Consumer Defense
7.26% 0.00% 41.57% 16.26% 3
Basic Materials
5.33% 0.00% 18.45% 19.30% 3
Energy
5.14% 0.00% 21.50% 13.21% 2
Industrials
4.76% 0.00% 27.34% 21.04% 4
Communication Services
4.01% 0.00% 20.02% 15.09% 3
Utilities
2.28% 0.00% 51.30% 14.22% 3
Real Estate
2.24% 0.00% 13.84% 14.08% 3
Healthcare
1.78% 0.00% 13.80% 19.01% 3

Stock Geographic Breakdown

Weighting Category Low Category High FSAMX % Rank Quintile
Non US
94.06% 0.00% 100.53% 16.67% 3
US
0.85% -3.75% 100.54% 12.17% 3

Bond Sector Breakdown

Weighting Category Low Category High FSAMX % Rank Quintile
Cash & Equivalents
4.35% -39.14% 100.00% 6.59% 1
Corporate
0.34% 0.00% 46.89% 13.47% 3
Government
0.02% -28.89% 83.82% 4.83% 1
Securitized
0.00% 0.00% 36.56% 1.02% 4
Municipal
0.00% 0.00% 1.50% 0.88% 4
Derivative
-0.02% -49.59% 7.66% 2.64% 5

Bond Geographic Breakdown

Weighting Category Low Category High FSAMX % Rank Quintile
US
0.02% 0.00% 130.42% 5.51% 1
Non US
0.00% -113.98% 91.30% 4.20% 4

FSAMX - Expenses

Operational Fees

FSAMX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 0.60% 0.05% 935.74% 38.37% 1
Management Fee 0.43% 0.00% 2.00% 9.13% 1
12b-1 Fee N/A 0.00% 1.00% N/A N/A
Administrative Fee N/A 0.00% 0.55% N/A N/A

Sales Fees

FSAMX Fees (% of AUM) Category Low Category High FSAMX Rank Quintile
Front Load N/A 0.50% 5.75% N/A N/A
Deferred Load N/A 1.00% 5.00% N/A N/A

Trading Fees

FSAMX Fees (% of AUM) Category Low Category High FSAMX Rank Quintile
Max Redemption Fee N/A 0.45% 2.00% N/A N/A

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.

FSAMX Fees (% of AUM) Category Low Category High FSAMX Rank Quintile
Turnover 23.00% 0.00% 947.00% 16.42% 1

FSAMX - Distributions

Dividend Yield Analysis

FSAMX Category Low Category High FSAMX % Rank Quintile
Dividend Yield 0.1% 0.00% 3.80% 40.43% 3

Dividend Distribution Analysis

FSAMX Category Low Category High Category Mode
Dividend Distribution Frequency Annually Annually Monthly Annually

Dividend Payout History


Net Income Ratio Analysis

FSAMX Category Low Category High FSAMX % Rank Quintile
Net Income Ratio 1.23% -2.15% 6.38% 18.02% 2

Capital Gain Distribution Analysis

FSAMX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Semi-Annually Annually

FSAMX - Managers

John R. Chisholm

Manager

Start Date

Sep 06, 2012

Tenure

5.24

Tenure Rank

6.6%

John joined Acadian in July 1987. He is our Chief Investment Officer and oversees Acadian’s investment process and investment team. He continues to actively manage Acadian portfolios and direct research to enhance our approach, as he has since 1987. Earlier in his career, John served as systems engineer at Draper Laboratories and as an analyst for the International Asset Management Department at the State Street Bank and Trust Company (now SSgA). A CFA charterholder, he is a member of the Boston Security Analysts Society. Education: B.S., Engineering, MIT; M.S., Management, MIT.


Matthew Vaight

Manager

Start Date

Mar 05, 2015

Tenure

2.74

Tenure Rank

10.3%

Matthew Vaight joined M&G’s UK equity desk in 1996. He is a member of the global equity team and is co-manager of the M&G Asian Fund and the M&G Global Emerging Markets Fund. In addition, he is co-manager of the Vanguard Precious Metals & Mining Fund. Matthew graduated from Oxford University with an honours degree in mathematics. He is a member of the UK Society of Investment Professionals (UKSIP).


Edward Robertson

Manager

Start Date

Jun 04, 2015

Tenure

2.49

Tenure Rank

10.7%

Edward is a founding partner of Somerset and lead portfolio manager of the firm’s flagship global emerging markets equity investment vehicle. Mr. Robertson is co-manager of Somerset’s emerging markets dividend growth strategy and is consulted on all portfolio decisions. Mr. Robertson joined LGM in 1999, built the global emerging markets product at LGM and managed a non-U.S. registered investment vehicle. Mr. Robertson is lead portfolio manager for Somerset’s global emerging markets strategy and co-manager of its global emerging markets small cap, small-mid cap, and dividend growth strategies.


John Chow

Lead Manager

Start Date

Feb 22, 2016

Tenure

1.77

Tenure Rank

11.9%

John Chow is a portfolio manager at Fidelity Institutional Asset Management (FIAM). He joined the Select portfolio management team in 2011 and is the co-manager for FIAM Select Emerging Market strategy. He joined Fidelity's quantitative equity group in 1994, and has managed assets for institutional and individual investors since 1997. Mr. Chow earned his bachelor of science degree in computer engineering from the Massachusetts Institute of Technology. He is a CFA charterholder and a member of the Boston Security Analysts Society.


César Hernandez

Manager

Start Date

Feb 22, 2016

Tenure

1.77

Tenure Rank

11.9%

César Hernández is a portfolio manager at Fidelity Institutional Asset Management (FIAM). In this role, he has been responsible for developing and managing the Select International and Select Global portfolios on behalf of institutional investors around the world since the discipline’s inception in 1989. He has been in the investments industry since 1986. Mr. Hernández earned his bachelor of science degree from the Universidad Simón Bolívar and his master of business administration degree from Babson College. He is also a CFA charterholder and a member of the Boston Security Analysts Society.


Wilfred Chilangwa

Lead Manager

Start Date

Sep 30, 2010

Tenure

7.17

Tenure Rank

4.7%

Chilangwa, Jr. is co-manager of PAS International. Since joining Fidelity Investments in 1997, he has served as portfolio strategist for Strategic Advisers.


Gonzalo Pangaro

Manager

Start Date

Mar 07, 2017

Tenure

0.73

Tenure Rank

13.2%

Gonzalo Pangaro is the lead portfolio manager for the firm’s Emerging Markets Equity Strategy. Mr. Pangaro became co-chairman in 2008 and has been sole chairman since 2009. Mr. Pangaro assumed portfolio management responsibilities in 2004. He is a vice president of T. Rowe Price Group, Inc., and T. Rowe Price International Ltd and a member of the International Equity Steering Committee. . He joined the firm in 1998 as an analyst covering Latin American equities from Buenos Aires. During his tenure, he has been instrumental in the development of the firm’s non-US research capabilities and served as head of International Research from 2000 to 2004 before electing to move to portfolio management full time. Prior to joining T. Rowe Price, Mr. Pangaro was head of Argentine research, also covering Latin American utilities, at Robert Fleming. He began his investment career in 1991 at Banco Mildesa in Buenos Aires, where he was an investment analyst specializing in the Argentine market. A graduate of Argentine Catholic University with a bachelor’s degree in business administration, Mr. Pangaro earned a master’s degree in finance from CEMA University (Centro de Estudios Macroeconomics de la Argentina). Mr. Pangaro has earned the Chartered Financial Analyst designation. In addition to English, Mr. Pangaro is fluent in Spanish and Portuguese.


Tenure Analysis

Category Low

0.0

Category High

23.9

Category Average

5.32

Category Mode

0.7