Fidelity Advisor Equity Market Neutral Fund (FEMWX)

Fund Assets	13.46M
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	9.85
YTD Return	2.39%
1-Year Return	n/a
5-Year Return	n/a
52-Week Low	9.52
52-Week High	10.16
Beta (5Y)	n/a
Holdings	229
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.

• Fund Family: Fidelity
• Stock Exchange: NASDAQ
• Ticker Symbol: FEMWX
• Share Class: Class Z

Other Share Classes

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

Symbol	Share Class	Expense Ratio
FEMUX	Fidelity Advisor Equity Market Neutral Fund: Class I	1.14%
FEMLX	Fidelity Advisor Equity Market Neutral Fund: Class A	1.39%
FEMOX	Fidelity Advisor Equity Market Neutral Fund: Class M	1.64%
FEMQX	Fidelity Advisor Equity Market Neutral Fund: Class C	2.14%

Top 10 Holdings

40.61% of assets

Name	Symbol	Weight
Morgan Stanley Institutional Prime Portfolio	MPFXX	21.12%
Apollo Global Management, Inc.	APO	2.31%
Meta Platforms, Inc.	META	2.30%
Wells Fargo & Company	WFC	2.29%
Insulet Corporation	PODD	2.22%
Morgan Stanley	MS	2.18%
Expedia Group, Inc.	EXPE	2.16%
Taiwan Semiconductor Manufacturing Company Limited	2330	2.04%
JPMorgan Chase & Co.	JPM	2.01%
Kuraray Co., Ltd.	3405	1.96%