Investment objective & strategy
As of Sept. 24, 2025 · prospectusObjective. Fidelity Advisor Real Estate Fund seeks above-average income and long-term capital growth, consistent with reasonable investment risk. The fund seeks to provide a yield that exceeds the composite yield of the S&P 500 Index.
Strategy. Normally investing primarily in common stocks. Normally investing at least 80% of assets in securities of companies principally engaged in the real estate industry and other real estate related investments. A real estate entity or real estate related investment is any company that is principally engaged in the real estate industry and includes commercial and residential mortgage-backed securities; debt securities of real estate entities; equity securities of entities whose primary assets are mortgage loans or commercial or residential mortgage-backed securities; REITs that either own properties or make construction loans and preferred stocks of REITs; real estate developers; companies with substantial real estate holdings; and other companies whose products and services are related to the real estate industry, such as building … Normally investing primarily in common stocks. Normally investing at least 80% of assets in securities of companies principally engaged in the real estate industry and other real estate related investments. A real estate entity or real estate related investment is any company that is principally engaged in the real estate industry and includes commercial and residential mortgage-backed securities; debt securities of real estate entities; equity securities of entities whose primary assets are mortgage loans or commercial or residential mortgage-backed securities; REITs that either own properties or make construction loans and preferred stocks of REITs; real estate developers; companies with substantial real estate holdings; and other companies whose products and services are related to the real estate industry, such as building supply manufacturers, mortgage lenders, or mortgage servicing companies. The Adviser considers a company to be principally engaged in the real estate industry if (i) at least 50% of its assets, income, sales or profits are committed to, or derived from, the real estate industry, or (ii) a third party has given the company an industry or sector classification consistent with the real estate industry. 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. Investing in domestic and foreign issuers. Using fundamental analysis of factors such as each issuer's financial condition and industry position, as well as market and economic conditions, to select investments.
Top holdings
As of Oct. 31, 2025 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| PROLOGIS INC REIT | — | $18.97M | 10.50% |
| EQUINIX INC | — | $16.22M | 8.98% |
| WELLTOWER INC | — | $15.43M | 8.54% |
| AMERICAN TOWER CORP | — | $14.81M | 8.20% |
| KIMCO REALTY CORPORATION | — | $8.35M | 4.62% |
| NNN REIT INC | — | $7.85M | 4.35% |
| PUBLIC STORAGE | — | $7.64M | 4.23% |
| VENTAS INC REIT | — | $7.57M | 4.19% |
| IRON MOUNTAIN INC | — | $6.88M | 3.81% |
| CBRE GROUP INC - CL A | — | $6.46M | 3.57% |
Portfolio moves
Jul 31, 2025 → Oct 31, 2025How many positions this fund opened, exited, grew, trimmed, or left unchanged between its two most recent N-PORT snapshots — net changes between point-in-time reports, not a trade log.
Similar funds
Funds whose portfolios most overlap this one, by weight| Fund | Overlap | Net exp. |
|---|---|---|
| Fidelity SAI Real Estate Fund · FSRJX | 94% | 0.56% |
| Fidelity Real Estate Investment Portfolio · FRESX, FRVJX, FRVHX, FRVBX, FRVDX, FRVEX | 94% | 0.56% |
| Fidelity Real Estate Investment ETF · FPRO | 94% | 0.57% |
Advisers
| Firm | Role |
|---|---|
| FMR Investment Management (UK) Limited | Sub-adviser |
| Fidelity Management & Research (Japan) Limited | Sub-adviser |
| Fidelity Management & Research (Hong Kong) Limited | Sub-adviser |
| Fidelity Management & Research Company LLC | Adviser |
Footnotes
- Expense ratio as of September 24, 2025, from the fund's prospectus.
- Net assets and holdings count as of October 31, 2025, from the fund's N-PORT filing.
- Total return for calendar year 2024, before tax and after fund expenses. Computed by compounding the twelve monthly total returns the fund reported in its SEC N-PORT filings for 2024 (the latest prospectus does not yet chart this year).
Machine-readable: JSON · Markdown. Programmatic access via the agent surface.