Fidelity SAI Convertible Arbitrage (FSAWX)
| Fund Assets | 1.01B |
| Expense Ratio | 1.46% |
| Min. Investment | $0.00 |
| Turnover | 345.00% |
| Dividend (ttm) | 1.02 |
| Dividend Yield | 9.23% |
| Dividend Growth | 22.43% |
| Payout Frequency | Semi-Annual |
| Ex-Dividend Date | Dec 19, 2025 |
| Previous Close | 11.04 |
| YTD Return | 2.41% |
| 1-Year Return | 13.25% |
| 5-Year Return | n/a |
| 52-Week Low | 9.75 |
| 52-Week High | 11.04 |
| Beta (5Y) | n/a |
| Holdings | 57 |
| Inception Date | Sep 12, 2023 |
About FSAWX
Fidelity SAI Convertible Arbitrage Fund is a mutual fund focused on a convertible arbitrage strategy, aiming to achieve a total return through both current income and capital appreciation. The fund primarily invests in convertible securities—such as convertible bonds and preferred stocks—which can be exchanged for common stock. To manage and hedge the equity risk inherent in these securities, the fund simultaneously sells short the underlying common stocks into which the convertibles may be converted. This hedged approach is designed to capture pricing inefficiencies and generate returns from the interest and dividends of the convertible securities, while minimizing exposure to broad market movements. The fund is managed by Fidelity Diversifying Solutions LLC and is not available to the general public, being offered exclusively to certain clients of the adviser or its affiliates. It is classified as non-diversified, meaning it can invest more heavily in fewer issuers, potentially resulting in greater fluctuations in value. The portfolio may include securities of any maturity or credit quality—including high-yield or "junk" bonds—and can hold issuers from both domestic and international markets, as well as small- and mid-cap companies. Its role in the market is to provide a differentiated return stream with low correlation to traditional equity and fixed income investments, appealing to investors seeking portfolio diversification through alternative strategies.
Performance
FSAWX had a total return of 13.25% in the past year, including dividends. Since the fund's inception, the average annual return has been 18.34%.
Top 10 Holdings
55.48% of assets| Name | Symbol | Weight |
|---|---|---|
| UST BILLS 0% 11/04/2025 | B.0 11.04.25 | 9.84% |
| UST BILLS 0% 12/09/2025 | B.0 12.09.25 | 9.80% |
| UST BILLS 0% 01/08/2026 | B.0 01.08.26 | 8.62% |
| Fidelity Revere Street Trust - Fidelity Cash Central Fund | n/a | 6.67% |
| GRANITE CONSTRUCTION INC CONV 3.75% 05/15/2028 | GVA.3.75 05.15.28 | 4.50% |
| Citigroup Inc. | C | 3.81% |
| NVIDIA Corporation | NVDA | 3.75% |
| Broadcom Inc. | AVGO | 3.21% |
| State Street Financial Select Sector SPDR ETF | XLF | 2.66% |
| Apple Inc. | AAPL | 2.63% |
Dividend History
| Ex-Dividend | Amount | Pay Date |
|---|---|---|
| Dec 19, 2025 | $0.835 | Dec 22, 2025 |
| Mar 7, 2025 | $0.184 | Mar 10, 2025 |
| Dec 20, 2024 | $0.498 | Dec 23, 2024 |
| Mar 8, 2024 | $0.123 | Mar 11, 2024 |
| Dec 27, 2023 | $0.027 | Dec 28, 2023 |
| Dec 8, 2023 | $0.014 | Dec 11, 2023 |