# Portfolio overlap — FSKLX vs QLVD

Comparing **Fidelity SAI International Low Volatility Index Fund** (2026-01-31) and **FlexShares Developed Markets ex-US Quality Low Volatility Index Fund** (2026-01-31).

- Shared positions: 58
- Fidelity SAI International Low Volatility Index Fund covered by FlexShares Developed Markets ex-US Quality Low Volatility Index Fund: 0.3347282528473741080343375221
- FlexShares Developed Markets ex-US Quality Low Volatility Index Fund covered by Fidelity SAI International Low Volatility Index Fund: 0.3347282528473741080343375220

## Fidelity SAI International Low Volatility Index Fund — top positions

| Security | Weight | Shared |
|----------|--------|--------|
| ROCHE HOLDINGS AG (GENUSSCHEINE) | 0.025595 | ✓ |
| Novartis AG (Registered) | 0.021730 | ✓ |
| JAPAN POST BANK | 0.020842 | ✓ |
| ASTRAZENECA PLC | 0.020490 | ✓ |
| GSK PLC | 0.019554 | ✓ |
| NATIONAL GRID PL | 0.019190 |  |
| UNILEVER PLC | 0.018582 | ✓ |
| RECKITT BENCKISE | 0.017584 |  |
| ORANGE | 0.017527 | ✓ |
| L'Air Liquide, societe anonyme pour l'Etude et l'Exploitation des procedes Georges Claude | 0.016687 | ✓ |
| TOKIO MARINE HOLDINGS INC COMMON STOCK | 0.016670 |  |
| HALEON PLC | 0.016049 | ✓ |
| TOYOTA MOTOR CORP | 0.015912 | ✓ |
| OCBC BANK | 0.015818 | ✓ |
| DEUTSCHE BOERSE | 0.015029 | ✓ |
| SAMPO OYJ-A SHS | 0.014847 | ✓ |
| Sanofi SA | 0.014734 | ✓ |
| KDDI Corporation | 0.014552 | ✓ |
| KONINKLIJKE AHOL | 0.014548 | ✓ |
| SOFTBANK CORP | 0.014265 | ✓ |
| RELX PLC | 0.014170 | ✓ |
| BRITISH AMERICAN TOBACCO PLC | 0.014115 |  |
| KYOCERA CORP | 0.013793 |  |
| SWISSCOM AG-REG | 0.013695 |  |
| JAPAN POST HOLDI | 0.013605 |  |
| NESTLE SA (REG) | 0.012882 | ✓ |
| SGS SA-REG | 0.012601 | ✓ |
| ZURICH INSURANCE | 0.012579 | ✓ |
| Bridgestone Corporation | 0.012566 | ✓ |
| ELBIT SYSTEMS LTD | 0.012550 |  |
| KPN (KONIN) NV | 0.012539 | ✓ |
| BOC HONG KONG HO | 0.012495 | ✓ |
| WOLTERS KLUWER | 0.012225 | ✓ |
| HANNOVER RUECK S | 0.011238 |  |
| ASTELLAS PHARMA | 0.010768 | ✓ |
| NTT INC | 0.010709 |  |
| LINDT&SPRUENGLI | 0.010398 |  |
| CLP HOLDINGS LTD COMMON STOCK | 0.009920 | ✓ |
| SECOM CO LTD | 0.009904 | ✓ |
| JARDINE MATHESON | 0.009896 | ✓ |
| OSAKA GAS CO LTD | 0.009807 | ✓ |
| TOKYO GAS CO LTD | 0.009295 | ✓ |
| CANON INC | 0.009187 | ✓ |
| SWISS PRIME -REG | 0.008971 | ✓ |
| KANSAI ELECTRIC POWER CO INC | 0.008647 |  |
| INSURANCE AUSTRA | 0.008242 | ✓ |
| COMPUTERSHARE LT | 0.008154 |  |
| SINGAP TECH ENG | 0.007761 |  |
| NOVO NORDISK-B | 0.007546 |  |
| SINGAPORE EXCH | 0.007432 | ✓ |

## FlexShares Developed Markets ex-US Quality Low Volatility Index Fund — top positions

| Security | Weight | Shared |
|----------|--------|--------|
| Treasury Repurchase Agreement | 0.038021 |  |
| Novartis AG (Registered) | 0.036178 | ✓ |
| UNILEVER PLC | 0.025507 | ✓ |
| ROYAL BANK OF CANADA | 0.021854 |  |
| Sanofi SA | 0.017930 | ✓ |
| NESTLE SA (REG) | 0.015376 | ✓ |
| CAN IMPL BK COMM | 0.014929 |  |
| MITSUBISHI CORP | 0.014808 |  |
| L'Air Liquide, societe anonyme pour l'Etude et l'Exploitation des procedes Georges Claude | 0.014592 | ✓ |
| IBERDROLA SA | 0.014588 |  |
| ASML Holding NV | 0.014574 | ✓ |
| DEUTSCHE TELEKOM | 0.013152 |  |
| MUENCHENER RUE-R | 0.013009 |  |
| DBS GROUP HLDGS | 0.012931 |  |
| JAPAN POST BANK | 0.011384 | ✓ |
| OCBC BANK | 0.010373 | ✓ |
| FRANCO-NEVADA CORP | 0.010201 |  |
| ZURICH INSURANCE | 0.010143 | ✓ |
| BANK LEUMI LE-IS | 0.009547 |  |
| BANK HAPOALIM | 0.009467 |  |
| ENGIE | 0.009329 |  |
| TAKEDA PHARMACEU | 0.009256 |  |
| CAN NATL RAILWAY | 0.009003 |  |
| DANONE SA | 0.008822 | ✓ |
| Compass Group PLC | 0.008718 |  |
| FERGUSON ENTERPRISES INC | 0.008680 |  |
| POWER ASSETS | 0.008648 | ✓ |
| SWISS PRIME -REG | 0.008592 | ✓ |
| DEUTSCHE BOERSE | 0.008574 | ✓ |
| SHIONOGI & CO | 0.008538 |  |
| CK INFRASTRUCTURE HOLDINGS LTD | 0.008502 |  |
| KDDI Corporation | 0.008474 | ✓ |
| Kone OYJ, Class B | 0.008337 | ✓ |
| AENA SME SA | 0.008269 |  |
| SOFTBANK CORP | 0.008192 | ✓ |
| MIZRAHI TEFAHOT | 0.008171 |  |
| NATL BK CANADA | 0.008168 |  |
| KPN (KONIN) NV | 0.008167 | ✓ |
| SHELL PLC | 0.008160 |  |
| SGS SA-REG | 0.008144 | ✓ |
| BOC HONG KONG HO | 0.008122 | ✓ |
| HALEON PLC | 0.008103 | ✓ |
| SCHINDLER HLD-PC | 0.008035 |  |
| SINGAPORE EXCH | 0.007991 | ✓ |
| SAMPO OYJ-A SHS | 0.007789 | ✓ |
| GEBERIT INTERNATINAL AG | 0.007716 |  |
| CAPITALAND INTEG | 0.007704 |  |
| LINDT SPRUENGLI AG PC | 0.007594 |  |
| JAPAN TOBACCO | 0.007594 |  |
| INTACT FINL CORP | 0.007380 |  |


## Sources

- N-PORT (fund A) — accession `0000035402-26-002054` (as of 2026-01-31)
  <https://www.sec.gov/Archives/edgar/data/35315/000003540226002054/0000035402-26-002054-index.htm>
- N-PORT (fund B) — accession `0002071691-26-006231` (as of 2026-01-31)
  <https://www.sec.gov/Archives/edgar/data/1491978/000207169126006231/0002071691-26-006231-index.htm>

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