Fidelity Advisor Equity Market Neutral I (FEMUX)

Fund Assets	20.23M
Expense Ratio	1.13%
Min. Investment	$0.00
Turnover	59.00%
Dividend (ttm)	n/a
Dividend Yield	n/a
Dividend Growth	n/a
Payout Frequency	n/a
Ex-Dividend Date	Dec 12, 2025

Previous Close	10.64
YTD Return	-1.94%
1-Year Return	6.74%
5-Year Return	n/a
52-Week Low	9.97
52-Week High	10.97
Beta (5Y)	n/a
Holdings	229
Inception Date	n/a

About FEMUX

Fidelity Equity Market Neutral Fund is an alternative mutual fund designed to seek capital appreciation through a market neutral strategy. The fund primarily invests at least 80% of its assets in equity securities and related derivatives, taking both long and short positions in domestic and international companies, including those in emerging markets. By holding both long and short exposures, the fund aims to minimize its correlation with broader equity market movements, targeting returns that are largely independent of market direction. This approach is structured to reduce the fund’s overall market risk (beta), with no specific bias toward sector, country, or investment style. The portfolio is constructed using a disciplined process that incorporates both fundamental and quantitative analysis to identify undervalued securities for long positions and overvalued ones for short positions. Its diversified positioning and use of advanced derivative instruments, such as futures, options, and swap agreements, allow the fund to adapt to various market conditions. The Fidelity Equity Market Neutral Fund serves investors seeking an alternative investment with exposure to global equities, but with a risk profile distinct from traditional long-only equity funds.

• Fund Family: Fidelity
• Category: Equity Market Neutral
• Stock Exchange: NASDAQ
• Ticker Symbol: FEMUX
• Share Class: Class I

Performance

FEMUX had a total return of 6.74% in the past year, including dividends. Since the fund's inception, the average annual return has been 2.99%.

Other Share Classes

These are alternative share classes of the same fund, from the same provider.

Symbol	Share Class	Expense Ratio
FEMWX	Fidelity Advisor Equity Market Neutral Fund: Class Z	1.08%
FEMLX	Fidelity Advisor Equity Market Neutral Fund: Class A	1.38%
FEMOX	Fidelity Advisor Equity Market Neutral Fund: Class M	1.63%
FEMQX	Fidelity Advisor Equity Market Neutral Fund: Class C	2.13%

Top 10 Holdings

28.37% of assets

Name	Symbol	Weight
Morgan Stanley Institutional Fund, Inc. Global Infrastructure Portfolio - Morgan Stanley Inst Lqudty Prime Inst	MPFXX	8.45%
SK hynix Inc.	000660	2.91%
Samsung Electronics Co., Ltd.	005930	2.56%
Taiwan Semiconductor Manufacturing Company Limited	2330	2.36%
BHP Group Limited	BHP	2.14%
Morgan Stanley	MS	2.12%
Bristol-Myers Squibb Company	BMY	2.07%
Redeia Corporación, S.A.	RED	1.97%
RELX PLC	REL	1.95%
Zions Bancorporation, National Association	ZION	1.84%

Dividend History

Ex-Dividend	Amount	Pay Date
Dec 12, 2025	$0.024	Dec 15, 2025

Data Sources: Tiingo, Twelve Data, and more

Historical data is provided by Tiingo. Delayed stock pricing data is provided by Twelve Data. Several fund data points are also provided by Finnhub.

Last checked:

Aug 27, 2026

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