Fidelity SAI Convertible Arbitrage (FSAWX)

Fund Assets	1.25B
Expense Ratio	1.488%
Min. Investment	$0.00
Turnover	363.00%
Dividend (ttm)	1.00
Dividend Yield	9.08%
Dividend Growth	47.07%
Payout Frequency	Semi-Annual
Ex-Dividend Date	Mar 13, 2026

Previous Close	11.08
YTD Return	4.09%
1-Year Return	-2.43%
5-Year Return	n/a
52-Week Low	10.75
52-Week High	11.61
Beta (5Y)	n/a
Holdings	53
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.

• Fund Family: Fidelity
• Category: Relative Value Arbitrage
• Stock Exchange: Nasdaq
• Ticker Symbol: FSAWX
• Index: Index is not provided by Management Company

Performance

FSAWX had a total return of -2.43% in the past year, including dividends. Since the fund's inception, the average annual return has been 4.92%.

Top 10 Holdings

68.78% of assets

Name	Symbol	Weight
Fidelity Revere Street Trust - Fidelity Cash Central Fund	n/a	15.33%
UST BILLS 0% 06/04/2026	B.0 06.04.26	10.67%
UST BILLS 0% 07/09/2026	B.0 07.09.26	10.63%
UST BILLS 0% 05/07/2026	B.0 05.07.26	7.27%
Mastercard Incorporated	MA	6.79%
Philip Morris International Inc.	PM	6.29%
Citigroup Inc.	C	3.56%
PITNEY-BOWES INC CONV 1.5% 08/15/2030 144A	PBI.1.5 08.15.30	2.89%
NVIDIA Corporation	NVDA	2.68%
Broadcom Inc.	AVGO	2.68%

Dividend History

Ex-Dividend	Amount	Pay Date
Mar 13, 2026	$0.168	Mar 16, 2026
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

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:

Oct 16, 2026

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