Fidelity Advisor Equity Market Neutral Fund (FEMLX)
| Fund Assets | 15.11M |
| Expense Ratio | 1.39% |
| Min. Investment | $0.00 |
| Turnover | 78.00% |
| Dividend (ttm) | n/a |
| Dividend Yield | n/a |
| Dividend Growth | n/a |
| Payout Frequency | n/a |
| Ex-Dividend Date | n/a |
| Previous Close | 10.32 |
| YTD Return | 6.97% |
| 1-Year Return | 7.20% |
| 5-Year Return | n/a |
| 52-Week Low | 9.51 |
| 52-Week High | 10.32 |
| Beta (5Y) | n/a |
| Holdings | 208 |
| Inception Date | n/a |
About FEMLX
Fidelity Equity Market Neutral Fund is a mutual fund that pursues a market neutral strategy, aiming to deliver capital appreciation with low correlation to broad equity market movements. The fund normally invests at least 80% of its assets in equity securities and related derivatives, utilizing long and short positions in both domestic and international stocks. Through this approach, the fund seeks to minimize exposure to market risk (beta), striving to balance the impact of rising and falling stock prices. Its diversification extends across developed and emerging markets, with instruments such as futures, options, and swaps also employed for portfolio management and hedging. The disciplined allocation process incorporates both fundamental and quantitative analysis, selecting securities believed to be undervalued for long positions and those expected to underperform for short positions. By maintaining neutrality toward factors like style, country, or sector, the Fidelity Equity Market Neutral Fund serves as an alternative investment strategy designed to generate returns that are less dependent on the overall direction of global equity markets, making it a specialized tool for portfolio diversification.
Performance
FEMLX had a total return of 7.20% in the past year, including dividends. Since the fund's inception, the average annual return has been 2.11%.
Other Share Classes
These are alternative share classes of the same fund, from the same provider.
Top 10 Holdings
33.26% of assets| Name | Symbol | Weight |
|---|---|---|
| Morgan Stanley Institutional Prime Portfolio | MPFXX | 14.84% |
| Meta Platforms, Inc. | META | 2.23% |
| Microsoft Corporation | MSFT | 2.22% |
| Taiwan Semiconductor Manufacturing Company Limited | 2330 | 2.13% |
| L3Harris Technologies, Inc. | LHX | 2.11% |
| Centrica plc | CNA | 2.07% |
| Morgan Stanley | MS | 1.94% |
| Royal Bank of Canada | RY | 1.93% |
| JPMorgan Chase & Co. | JPM | 1.92% |
| Boston Scientific Corporation | BSX | 1.88% |