Investment objective & strategy
As of Dec. 29, 2025 · prospectusObjective. Fidelity SAI International SMA Completion Fund seeks capital growth.
Strategy. Normally investing primarily in non-U.S. securities, including securities of issuers located in emerging markets. The Adviser considers non-U.S. securities to include investments that are tied economically to a particular country or region outside the U.S. Emerging markets include countries that have an emerging stock market as defined by MSCI, countries or markets with low- to middle-income economies as classified by the World Bank, and other countries or markets that the Adviser identifies as having similar emerging markets characteristics. The Adviser considers a number of factors to determine whether an issuer is located in or tied economically to a particular country or region including: whether a third-party vendor has assigned a particular country or region classification to the issuer or included … Normally investing primarily in non-U.S. securities, including securities of issuers located in emerging markets. The Adviser considers non-U.S. securities to include investments that are tied economically to a particular country or region outside the U.S. Emerging markets include countries that have an emerging stock market as defined by MSCI, countries or markets with low- to middle-income economies as classified by the World Bank, and other countries or markets that the Adviser identifies as having similar emerging markets characteristics. The Adviser considers a number of factors to determine whether an issuer is located in or tied economically to a particular country or region including: whether a third-party vendor has assigned a particular country or region classification to the issuer or included the issuer in an index representative of a particular country or region; the issuer's domicile, incorporation, and location of assets; whether the issuer derives at least 50% of its revenues from, or has at least 50% of its assets in, a particular country or region; the source of government guarantees (if any); and the primary trading market or listing exchange. Whether an issuer is located in or tied economically to a particular country can be determined under any of these factors. Normally investing primarily in equity securities. Allocating investments across different countries and regions. 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 Jan. 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| CAIXABANK SA | — | $121.61M | 7.35% |
| SK HYNIX INC | — | $104.64M | 6.32% |
| MITSUBISHI HEAVY INDS LTD | — | $103.41M | 6.25% |
| Investor Aktiebolag | INVEB | $80.65M | 4.87% |
| RENESAS ELECTRON | — | $75.92M | 4.59% |
| Fidelity Cash Central Fund | — | $73.97M | 4.47% |
| SAMSUNG ELECTRONICS CO LTD | — | $73.70M | 4.45% |
| HEIDELBERG MATERIALS AG COMMON STOCK | HEI | $72.49M | 4.38% |
| Fresenius SE & Company KGaA | FRE | $64.69M | 3.91% |
| ITOCHU CORP | — | $60.22M | 3.64% |
Portfolio moves
Oct 31, 2025 → Jan 31, 2026How 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 Diversified International K6 Fund · FKIDX | 26% | 0.60% |
| Fidelity Advisor Diversified International Fund · FDVAX, FADCX, FADIX, FDVIX, FZABX | 26% | 0.72% |
| Fidelity Diversified International Fund · FDIVX, FDIKX | 26% | 0.59% |
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 December 29, 2025, from the fund's prospectus.
- Net assets and holdings count as of January 31, 2026, from the fund's N-PORT filing.
- Total return for calendar year 2025, before tax and after fund expenses. Computed by compounding the twelve monthly total returns the fund reported in its SEC N-PORT filings for 2025 (the latest prospectus does not yet chart this year).
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