Fidelity Advisor Equity Market Neutral Fund (FEMWX)
| Fund Assets | 15.11M |
| Expense Ratio | 1.09% |
| 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 | 10.36 |
| YTD Return | 7.28% |
| 1-Year Return | 7.61% |
| 5-Year Return | n/a |
| 52-Week Low | 9.52 |
| 52-Week High | 10.36 |
| Beta (5Y) | n/a |
| Holdings | 208 |
| Inception Date | n/a |
About FEMWX
Fidelity Equity Market Neutral Fund is an alternative mutual fund that employs a market neutral investment strategy, aiming to achieve capital appreciation with minimal correlation to broad equity market movements. The fund typically allocates at least 80% of its assets to equity securities and equity-related derivative instruments, investing both long and short in stocks. This approach allows the fund to take advantage of mispricings by going long on equities it considers undervalued and shorting those it deems overvalued, regardless of market direction. The portfolio is diversified across domestic and international issuers, including exposure to emerging markets and the use of derivatives such as futures, options, swap agreements, and contracts for difference. By striving for a neutral market exposure, the fund seeks to remove general market, style, country, or sector biases, resulting in returns that are less dependent on the overall performance of equity markets. Fidelity Equity Market Neutral Fund serves investors seeking alternative sources of return and low correlation to traditional stock and bond investments within a diversified portfolio.
Performance
FEMWX had a total return of 7.61% in the past year, including dividends. Since the fund's inception, the average annual return has been 2.43%.
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% |