Investment objective & strategy
As of Dec. 29, 2025 · prospectusObjective. Fidelity SAI International Value Index Fund seeks to provide investment results that correspond to the total return of international stocks with attractive valuations.
Strategy. Normally investing at least 80% of assets in securities included in the Fidelity International Value Focus Index?. The Fidelity International Value Focus Index SM is designed to reflect the performance of stocks of large and mid-capitalization developed international companies that have attractive valuations. The Fidelity International Value Focus Index SM is constructed using Fidelity's rules-based proprietary index methodology. Stocks are ranked and given a composite score based on four measures of value: high free-cash-flow yield; low enterprise value to earnings before interest, taxes, depreciation and amortization; high book value to price; high future earnings to price. Derivative instruments that provide investment exposure to the investments above or exposure to one or more market risk factors associated with such investments are … Normally investing at least 80% of assets in securities included in the Fidelity International Value Focus Index?. The Fidelity International Value Focus Index SM is designed to reflect the performance of stocks of large and mid-capitalization developed international companies that have attractive valuations. The Fidelity International Value Focus Index SM is constructed using Fidelity's rules-based proprietary index methodology. Stocks are ranked and given a composite score based on four measures of value: high free-cash-flow yield; low enterprise value to earnings before interest, taxes, depreciation and amortization; high book value to price; high future earnings to price. 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, and country weightings to attempt to replicate the returns of the Fidelity International Value Focus Index?. Lending securities to earn income for the fund.
Top holdings
As of Jan. 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| BANCO SANTANDER SA | — | $349.15M | 2.84% |
| TOTALENERGIES SE | — | $333.92M | 2.72% |
| DEUTSCHE TELEKOM | — | $299.26M | 2.43% |
| BNP PARIBAS | — | $286.68M | 2.33% |
| MITSUBISHI CORP | — | $282.32M | 2.30% |
| Fidelity Securities Lending Cash Central Fund | — | $280.72M | 2.28% |
| GSK PLC | — | $270.75M | 2.20% |
| Sanofi SA | — | $268.74M | 2.19% |
| RIO TINTO PLC | — | $256.56M | 2.09% |
| BARCLAYS PLC | — | $245.29M | 2.00% |
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. |
|---|---|---|
| iShares MSCI Intl Value Factor ETF · IVLU | 51% | 0.31% |
| Fidelity International Value Factor ETF · FIVA | 39% | 0.18% |
| iShares MSCI EAFE Value ETF · EFV | 39% | 0.31% |
Advisers
| Firm | Role |
|---|---|
| Fidelity Management & Research Company LLC | Adviser |
| Geode Capital Management, LLC | Sub-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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