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Fidelity Market Neutral Alternative Fund Series B

Alternative Market Neutrl

FundGrade B Click for more information on Fundata’s FundGrade

FundGrade B

Click for more information on Fundata’s FundGrade.

Fundata ESG GradeC Click for more information on Fundata’s ESG Grade

Fundata ESG Grade C

Click for more information on Fundata’s ESG Grade.

NAVPS
(06-21-2024)
$10.14
Change
-$0.03 (-0.31%)

As at May 31, 2024

As at March 31, 2024

As at February 29, 2024

Period
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Legend

Fidelity Market Neutral Alternative Fund Series B

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Fund Returns

Inception Return (October 16, 2020): 0.04%

Fund Returns
Row Heading Return Annualized Return
1 Mth 3 Mth 6 Mth YTD 1 Yr 2 Yr 3 Yr 4 Yr 5 Yr 6 Yr 7 Yr 8 Yr 9 Yr 10 Yr
Fund 1.04% 0.63% 1.99% 2.34% 4.85% 6.62% 4.43% - - - - - - -
Benchmark 2.77% 5.07% 11.79% 7.58% 17.55% 7.08% 7.35% 13.44% 10.14% 8.92% 8.75% 9.19% 7.72% 7.53%
Category Average 0.82% 4.79% 4.79% 4.58% 7.43% 4.45% -0.21% 1.29% -0.48% - - - - -
Category Rank 5 / 24 22 / 24 21 / 23 21 / 23 20 / 23 10 / 23 8 / 22 - - - - - - -
Quartile Ranking 1 4 4 4 4 2 2 - - - - - - -

Monthly Return

Monthly Return
Return % Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May
Fund 2.28% -1.78% 0.82% 1.62% -0.59% 0.48% -0.35% 0.16% 1.54% 0.52% -0.91% 1.04%
Benchmark 3.36% 2.58% -1.37% -3.33% -3.21% 7.48% 3.91% 0.55% 1.82% 4.14% -1.82% 2.77%

Best Monthly Return Since Inception

2.35% (September 2022)

Worst Monthly Return Since Inception

-5.26% (March 2021)

Calendar Return (%)

Calendar Return
Return % 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Fund - - - - - - - -7.17% 4.14% 5.46%
Benchmark 10.55% -8.32% 21.08% 9.10% -8.89% 22.88% 5.60% 25.09% -5.84% 11.75%
Category Average - - - - - - -3.57% -6.24% -1.79% 4.02%
Quartile Ranking - - - - - - - 4 2 2
Category Rank - - - - - - - 18/ 19 8/ 23 7/ 23

Best Calendar Return (Last 10 years)

5.46% (2023)

Worst Calendar Return (Last 10 years)

-7.17% (2021)

Asset Allocation

Asset Allocation
Name Percent
Cash and Equivalents 98.51
Canadian Equity 16.63
International Equity 2.07
US Equity -17.20
Other -0.01

Sector Allocation

Sector Allocation
Name Percent
Cash and Cash Equivalent 98.51
Real Estate 6.58
Basic Materials 4.03
Industrial Services 3.22
Telecommunications 0.57
Other -12.91

Geographic Allocation

Geographic Allocation
Name Percent
North America 97.93
Africa and Middle East 3.42
Europe -0.54
Latin America -0.82
Other 0.01

Top Holdings

Top Holdings
Name Percent
Cash and Cash equivalents 98.87
Meta Platforms Inc Cl A 3.28
Fairfax Financial Holdings Ltd 2.91
Onex Corp 2.87
Union Pacific Corp 2.77
Rogers Communications Inc Cl B 2.77
SNC-Lavalin Group Inc 2.76
Loblaw Cos Ltd 2.71
Spin Master Corp 2.59
Colliers International Group Inc 2.58

Equity Style

Equity style data not available

Fixed Income Style

Fixed income style data not available
Period: 

Risk vs Return (3 Yr)

Fidelity Market Neutral Alternative Fund Series B

Median

Other - Alternative Market Neutrl

3 Yr Annualized

Standard Deviation 4.27% - -
Beta 0.01% - -
Alpha 0.04% - -
Rsquared 0.00% - -
Sharpe 0.36% - -
Sortino 0.47% - -
Treynor 2.01% - -
Tax Efficiency - - -
Volatility Volatility rating is 1 on a scale of 1 to 10 - -

Risk Rating

Rating 1 out of ten

Annualized Key Ratio Period Comparison

Key Ratio
Key Ratio 1 Yr 3 Yr 5 Yr 10 Yr
Standard Deviation 4.04% 4.27% - -
Beta 0.03% 0.01% - -
Alpha 0.04% 0.04% - -
Rsquared 0.01% 0.00% - -
Sharpe 0.00% 0.36% - -
Sortino 0.71% 0.47% - -
Treynor -0.01% 2.01% - -
Tax Efficiency 100.00% - - -

Fundata ESG Metrics

Fundata ESG Score

The E, S, and G scores are averaged for each security in the portfolio, to arrive at an ESG score for each security. We take the portfolio weighted average of the ESG scores for each fund and rank them against their peers to arrive at the Fundata ESG Score from 0-100.

Fundata E Score

Three scores under the Environment bucket are averaged to yield the Fundata Environment Score for each fund from 0-100: (1) Pollution Prevention, (2) Environmental Transparency, (3) Resource Efficiency.

Fundata S Score

Six scores under the Social bucket are averaged to yield the Fundata Social Score for each fund from 0-100. (1) Compensation and Satisfaction, (2) Diversity and Rights, (3) Education and Work Conditions, (4) Community and Charity, (5) Human Rights, (6) Sustainability Integration.

Fundata G Score

Three scores under the governance bucket are averaged to yield the Fundata Governance Score for each fund from 0-100: (1) Board Effectiveness, (2) Management Ethics, (3) Disclosure and Accountability.

Powered by OWL Analytics. For more information, please contact Fundata Canada.

Fund Details

Start Date October 16, 2020
Instrument Type Mutual Fund (Alternative)
Share Class Commission Based Advice
Legal Status Trust
Sales Status Open
Currency CAD
Distribution Frequency Annual
Assets ($mil) $9

Fund Codes

FundServ Code Load Code Sales Status
FID2139

Investment Objectives

The Fund aims to provide long-term capital appreciation with low correlation to major equity markets by investing primarily in long and short positions of equity securities of companies located in Canada and/or the United States. The Fund may use leverage through the use of short selling of up to 100% of its net asset value and by investing in derivatives.

Investment Strategy

To meet the Fund’s objectives, the portfolio management team: Will maintain both long and short exposure to a diversified portfolio of primarily Canadian and U.S. equities which involves simultaneously investing in growth oriented equities (investing long) of companies whose magnitude and duration of growth is apparently faster and longer than the market expectation and immediately selling equities (investing short) of companies with decelerating growth rates or facing increased competition.

Portfolio Manager(s)

Name Start Date
Brett Dley 10-16-2020
Fidelity Canada Investment Management 02-06-2023

Management and Organization

Fund Manager Fidelity Investments Canada ULC
Advisor Fidelity Investments Canada ULC
Custodian State Street Trust Company Canada
Registrar Fidelity Investments Canada ULC
Distributor Fidelity Investments Canada ULC
Auditor PriceWaterhouseCoopers LLP

Investment Minimums

RSP Eligible Yes
PAC Allowed Yes
PAC Initial Investment 25
PAC Subsequent 25
SWP Allowed Yes
SWP Min Balance -
SWP Min Withdrawal -

Fees

MER 2.64%
Management Fee 2.15%
Load Back Fee Only
FE Max 5.00%
DSC Max -
Trailer Fee Max (FE) 1.00%
Trailer Fee Max (DSC) -
Trailer Fee Max (NL) -
Trailer Fee Max (LL) -

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