Investment objective & strategy
As of Oct. 22, 2025 · prospectusObjective. Fidelity SAI Emerging Markets Momentum Index Fund seeks to provide investment results that correspond to the total return of emerging markets stocks with high momentum characteristics.
Strategy. Normally investing at least 80% of assets in securities of companies included in the Fidelity Emerging Markets Momentum Focus IndexSM. The Fidelity Emerging Markets Momentum Focus Index SM is designed to reflect the performance of stocks of large- and mid-capitalization companies in emerging markets based on price and earnings momentum metrics. The Fidelity Emerging Markets Momentum Focus Index SM was created by Fidelity Product Services LLC (FPS) using a rules-based proprietary index methodology that includes all emerging markets stocks meeting certain market capitalization, liquidity, and investability requirements. The index is rebalanced monthly, with a provision to make adjustments for certain corporate actions on as as-needed basis. Effective December 11, 2025, derivative instruments that provide investment exposure to the investments above … Normally investing at least 80% of assets in securities of companies included in the Fidelity Emerging Markets Momentum Focus IndexSM. The Fidelity Emerging Markets Momentum Focus Index SM is designed to reflect the performance of stocks of large- and mid-capitalization companies in emerging markets based on price and earnings momentum metrics. The Fidelity Emerging Markets Momentum Focus Index SM was created by Fidelity Product Services LLC (FPS) using a rules-based proprietary index methodology that includes all emerging markets stocks meeting certain market capitalization, liquidity, and investability requirements. The index is rebalanced monthly, with a provision to make adjustments for certain corporate actions on as as-needed basis. Effective December 11, 2025, derivative instruments that provide investment exposure to the investments above or exposure to one or more market risk factors associated with such investments are included in the fund's 80% policy, consistent with the fund's investment policies and limitations with respect to investments in derivatives. Using statistical sampling techniques based on such factors as capitalization, industry exposures, dividend yield, price-to-earnings (P/E) ratio, price-to-book (P/B) ratio, earnings growth, country weightings, and the effect of foreign taxes to attempt to replicate the returns of the Fidelity Emerging Markets Momentum Focus IndexSM. Lending securities to earn income for the fund.
Top holdings
As of Jan. 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| TSMC | — | $42.34M | 11.77% |
| Fidelity Cash Central Fund | — | $33.63M | 9.35% |
| SAMSUNG ELECTRONICS CO LTD | — | $19.30M | 5.37% |
| SK HYNIX INC | — | $14.85M | 4.13% |
| TENCENT HOLDINGS LTD | — | $13.83M | 3.85% |
| BABA-W | — | $8.88M | 2.47% |
| DELTA ELEC | — | $6.03M | 1.68% |
| CHINA LIFE-H | — | $5.32M | 1.48% |
| SK SQUARE CO LTD | — | $5.27M | 1.47% |
| GOLD FIELDS LTD | — | $5.01M | 1.39% |
Similar funds
Funds whose portfolios most overlap this one, by weight| Fund | Overlap | Net exp. |
|---|---|---|
| Fidelity Sustainable Emerging Markets Equity Fund · FSYNX, FSYKX, FSZIX, FSZZX, FSYJX, FSWAX | 48% | 1.10% |
| Fidelity Series Emerging Markets Fund · FHKFX | 46% | 0.01% |
| Fidelity SAI Sustainable Emerging Markets Equity Fund · FSSGX | 45% | 0.95% |
Footnotes
- Expense ratio as of October 22, 2025, from the fund's prospectus.
- Net assets and holdings count as of January 31, 2026, from the fund's N-PORT filing.
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