Fidelity Advisor Equity Market Neutral Z (FEMWX)

Fund Assets	20.23M
Expense Ratio	1.08%
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	10.65
YTD Return	-1.93%
1-Year Return	6.84%
5-Year Return	n/a
52-Week Low	9.98
52-Week High	10.98
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
• Category: Equity Market Neutral
• Stock Exchange: NASDAQ
• Ticker Symbol: FEMWX
• Share Class: Class Z

Performance

FEMWX had a total return of 6.84% in the past year, including dividends. Since the fund's inception, the average annual return has been 3.03%.

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	1.13%
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

Data Sources Report a data error