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FSAMX Strategic Advisers® Emerging Markets

  • Fund
  • FSAMX
  • Price as of: Nov 12, 2018
  • $9.40
  • - $0.16
  • - 1.67%
  • Category
  • Emerging Markets Equities

FSAMX - Profile

Vitals

  • YTD Return -18.0%
  • 3 Yr Annualized Return 6.0%
  • 5 Yr Annualized Return 0.1%
  • Net Assets $4.39 B
  • Holdings in Top 10 41.4%

52 WEEK LOW AND HIGH

$9.40
$9.12
$12.57

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.70%

SALES FEES

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

BROKERAGE FEES

  • Turnover 31.00%

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 -18.0%
  • 3 Yr Annualized Total Return 6.0%
  • 5 Yr Annualized Total Return 0.1%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.36%
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 -18.0% -30.8% 38.1% 59.06% 4
1 Yr -14.8% -38.0% 57.7% 60.55% 4
3 Yr 6.0% * -13.2% 11.7% 27.17% 2
5 Yr 0.1% * -11.8% 11.2% 59.38% 3
10 Yr N/A * -4.6% 11.4% N/A N/A

* Annualized


Return Ranking - Calendar

Period FSAMX Return Category Return Low Category Return High Rank in Category (%) Quintile
2017 36.6% -32.2% 248.4% 30.32% 2
2016 9.8% -40.7% 241.4% 21.01% 2
2015 -16.9% -47.4% 0.1% 63.46% 4
2014 -3.9% -40.7% 42.6% 42.02% 3
2013 -3.5% -30.3% 32.4% 55.85% 3

Total Return Ranking - Trailing

Period FSAMX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD -18.0% -100.0% 38.1% 59.23% 4
1 Yr -14.8% -26.0% 55.8% 54.47% 3
3 Yr 6.0% * -11.1% 11.7% 23.63% 2
5 Yr 0.1% * -12.2% 11.2% 54.30% 3
10 Yr N/A * -4.6% 11.4% N/A N/A

* Annualized


Total Return Ranking - Calendar

Period FSAMX Return Category Return Low Category Return High Rank in Category (%) Quintile
2017 36.6% -24.1% 248.4% 30.46% 2
2016 9.8% -24.0% 242.0% 22.58% 2
2015 -15.9% -24.6% 2.8% 69.02% 4
2014 -2.4% -17.4% 60.9% 44.64% 3
2013 -2.3% -36.9% 60.9% 57.46% 3

NAV & Total Return History

FSAMX - Holdings

Filings data as of: Sep 30, 2018

Concentration Analysis

FSAMX Category Low Category High FSAMX % Rank Quintile
Net Assets 4.39 B 272 73.8 B 3.04% 1
Number of Holdings 613 1 5138 3.62% 1
Net Assets in Top 10 2.13 B -154 M 15.5 B 2.32% 1
Weighting of Top 10 41.4% 0.0% 539.2% 5.07% 1

Top 10 Holdings

  1. Fidelity® Emerging Markets 6.79%
  2. Oppenheimer Developing Markets I 2.33%
  3. iShares MSCI China ETF 3.29%
  4. Samsung Electronics Co Ltd 2.51%
  5. Goldman Sachs Emerging Markets Eq Instl 2.82%
  6. Msci Emgmkt Fut Dec18 Mesz8 8.06%
  7. Tencent Holdings Ltd 1.91%
  8. iShares MSCI Emerging Markets ETF 7.20%
  9. iShares Edge MSCI Min Vol Emerg Mkts ETF 4.70%
  10. GMO Emerging Markets IV 1.75%

Asset Allocation

Weighting Category Low Category High FSAMX % Rank Quintile
Stocks
91.17% 0.00% 104.19% 26.09% 5
Cash
8.45% -68.34% 100.00% 3.62% 1
Other
0.25% -1.53% 31.18% 15.94% 3
Preferred Stocks
0.08% 0.00% 14.58% 8.70% 2
Bonds
0.03% -67.79% 92.15% 6.96% 2
Convertible Bonds
0.02% 0.00% 19.34% 2.90% 1

Stock Sector Breakdown

Weighting Category Low Category High FSAMX % Rank Quintile
Technology
22.28% 0.00% 36.30% 15.82% 3
Financial Services
20.57% 0.00% 47.62% 18.29% 3
Consumer Cyclical
9.49% 0.00% 31.99% 20.46% 3
Consumer Defense
6.62% 0.00% 47.85% 20.17% 4
Basic Materials
5.58% 0.00% 20.24% 19.74% 3
Energy
5.54% 0.00% 23.69% 16.40% 3
Industrials
4.14% 0.00% 27.34% 23.22% 4
Communication Services
3.13% 0.00% 20.02% 17.27% 3
Healthcare
2.13% 0.00% 13.95% 19.30% 4
Real Estate
1.93% 0.00% 9.30% 15.82% 3
Utilities
1.65% 0.00% 53.86% 15.38% 3

Stock Geographic Breakdown

Weighting Category Low Category High FSAMX % Rank Quintile
Non US
90.00% 0.00% 101.83% 25.80% 4
US
1.17% -3.75% 100.54% 10.87% 2

Bond Sector Breakdown

Weighting Category Low Category High FSAMX % Rank Quintile
Cash & Equivalents
8.48% -39.14% 100.00% 3.48% 1
Corporate
0.14% 0.00% 40.55% 12.48% 2
Securitized
0.00% 0.00% 57.71% 1.45% 4
Municipal
0.00% 0.00% 1.50% 1.02% 4
Government
0.00% -116.16% 84.31% 4.50% 4
Derivative
-0.05% -49.59% 7.66% 2.47% 5

Bond Geographic Breakdown

Weighting Category Low Category High FSAMX % Rank Quintile
Non US
0.03% -482.97% 91.30% 4.64% 1
US
0.00% 0.00% 415.18% 4.78% 4

FSAMX - Expenses

Operational Fees

FSAMX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 0.70% 0.06% 935.74% 36.39% 1
Management Fee 0.51% 0.00% 2.00% 9.42% 1
12b-1 Fee N/A 0.00% 1.00% N/A N/A
Administrative Fee N/A 0.00% 0.85% 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 31.00% 0.00% 947.00% 14.70% 2

FSAMX - Distributions

Dividend Yield Analysis

FSAMX Category Low Category High FSAMX % Rank Quintile
Dividend Yield 0.1% 0.00% 4.05% 42.65% 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 1.36% -1.60% 5.89% 16.89% 2

Capital Gain Distribution Analysis

FSAMX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Quarterly Annually

FSAMX - Managers

John R. Chisholm

Manager

Start Date

Sep 06, 2012

Tenure

6.15

Tenure Rank

6.4%

John R. Chisholm, CFA – Co-Chief Executive Officer, Co-Chief Investment Officer. John Chisholm currently serves as Acadian’s co-chief executive officer, as well as co-chief investment officer. He served as Acadian’s sole CIO from 1998 to 2017, where he oversaw Acadian’s investment process and Investment Team, and directed Acadian's portfolio management and research. Prior to co-founding Acadian in 1987, John served as a 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).


Matthew Vaight

Manager

Start Date

Mar 05, 2015

Tenure

3.66

Tenure Rank

9.7%

Matthew Vaight joined M&G’s UK equity desk in 1996. He is a member of the M&G Equities team and is manager of the M&G Asian Fund and the M&G Global Emerging Markets Fund. Matthew graduated from Oxford University with a first class 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

3.41

Tenure Rank

10.2%

Edward Robertson, a partner of Somerset Capital, serves as portfolio manager for Somerset Capital’s portion of the fund’s assets, which he has managed since 2015. He co-founded Somerset Capital in 2007 and has served as a portfolio manager since inception.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.


John Chow

Lead Manager

Start Date

Feb 22, 2016

Tenure

2.69

Tenure Rank

11.5%

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

2.69

Tenure Rank

11.5%

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

8.09

Tenure Rank

4.7%

Since joining Fidelity Investments in 1997, Mr. Chilangwa has worked as a senior fund analyst, an international strategist, and a portfolio manager.


Gonzalo Pangaro

Manager

Start Date

Mar 07, 2017

Tenure

1.65

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.


Arjun Jayaraman

Manager

Start Date

Jun 28, 2018

Tenure

0.34

Tenure Rank

14.8%

Arjun Jayaraman, PhD, CFA, is head of the quantitative research group at Causeway Capital Management LLC. He has been a portfolio manager at the firm since January 2006. From 2004 to 2005, Dr. Jayaraman was a portfolio manager for quantitative strategies at PanAgora Asset Management. He was the lead portfolio manager of its non-U.S. large cap core equity portfolios and was the co-portfolio manager of its global large cap core equity portfolios. From 2000-2004, Dr. Jayaraman managed similar portfolios at Putnam Investments in addition to working closely with the teams that managed Putnam’s traditional non-U.S. strategies. Dr. Jayaraman has a BA in Economics from Columbia University, a PhD from New York University (Stern School of Business), and is a CFA charterholder.


MacDuff Kuhnert

Manager

Start Date

Jun 28, 2018

Tenure

0.34

Tenure Rank

14.8%

MacDuff Kuhnert, CFA, is a director of Causeway Capital Management LLC and performs quantitative research. He joined the firm in July 2001. His responsibilities include product development, asset allocation, risk management, and the design and implementation of proprietary valuation models and other quantitative tools. From 1996 to July 2001, Mr. Kuhnert worked for HW-MLIM as a quantitative research associate, where he created and developed advanced quantitative models used in the international value investment process. Mr. Kuhnert has a BA in Chemistry from Dartmouth College. He is a CFA charterholder and member of the Los Angeles Society of Financial Analysts and the Los Angeles Quantitative Investment Association.


Joe Gubler

Manager

Start Date

Jun 28, 2018

Tenure

0.34

Tenure Rank

14.8%

Joe Gubler, CFA, is a member of the Quantitative Research Group and a Portfolio Manager for Causeway's emerging markets equity, international opportunities, international opportunities socially responsible, global opportunities, global absolute return, and international small cap equity strategies. Mr. Gubler joined Causeway as a Quantitative Research Associate in April 2005 and was promoted to Portfolio Manager in January 2014. From 2002 to April 2005, Mr. Gubler worked as Director of Engineering for the MonsterTRAK division of Monster.com. He was responsible for a cross-functional team that developed, enhanced, and maintained the software that powers the monstertrak.com website. From 1999 to 2002, Mr. Gubler developed database-enabled web applications for a wide range of companies, including the National Academy of Recording Arts and Sciences, the Recording Industry Association of America, Disney, NameSafe.com, and Array Networks. While studying astrophysics at UC San Diego, Mr. Gubler worked as a Graduate Research Assistant in the Jet Propulsion Laboratory’s stellar interferometry group. Mr. Gubler has a BS, cum laude, in Physics from UC Irvine, an MS in Physics from UC San Diego, and an MBA from the UCLA Anderson Graduate School of Management. He is a CFA charterholder.


Tenure Analysis

Category Low

0.0

Category High

24.9

Category Average

5.78

Category Mode

0.5