Investment objective & strategy
As of Dec. 29, 2025 · prospectusObjective. Fidelity SAI Global ex U.S. Low Volatility Index Fund seeks to provide investment results that correspond to the total return of low volatility foreign developed and emerging markets stocks.
Strategy. Normally investing at least 80% of assets in securities included in the Fidelity Global ex U.S. Low Volatility Focus IndexSM. The Fidelity Global ex U.S. Low Volatility Focus Index SM is designed to reflect the performance of a broad range of foreign developed and emerging markets equities that in the aggregate have lower volatility relative to the broader global ex U.S. equity market. The universe of equities for consideration in the index consists of the non-U.S. large- and mid-cap equities based on certain liquidity and investability requirements. The Fidelity Global ex U.S. Low Volatility Focus Index SM is constructed using Fidelity's rules-based proprietary index methodology. Equities are ranked and given a composite score based on two measures of volatility: low … Normally investing at least 80% of assets in securities included in the Fidelity Global ex U.S. Low Volatility Focus IndexSM. The Fidelity Global ex U.S. Low Volatility Focus Index SM is designed to reflect the performance of a broad range of foreign developed and emerging markets equities that in the aggregate have lower volatility relative to the broader global ex U.S. equity market. The universe of equities for consideration in the index consists of the non-U.S. large- and mid-cap equities based on certain liquidity and investability requirements. The Fidelity Global ex U.S. Low Volatility Focus Index SM is constructed using Fidelity's rules-based proprietary index methodology. Equities are ranked and given a composite score based on two measures of volatility: low 5-year standard deviation of price returns and low 5-year beta. 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 Global ex U.S. Low Volatility Focus IndexSM. Lending securities to earn income for the fund.
Top holdings
As of Jan. 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| ROCHE HOLDINGS AG (GENUSSCHEINE) | — | $157.50M | 2.91% |
| Novartis AG (Registered) | NVSEF | $133.68M | 2.47% |
| ASTRAZENECA PLC | — | $129.65M | 2.40% |
| TSMC | — | $110.76M | 2.05% |
| NATIONAL GRID PL | — | $94.32M | 1.74% |
| NESTLE SA (REG) | — | $91.36M | 1.69% |
| ICBC-H | — | $91.18M | 1.69% |
| CCB-H | — | $90.64M | 1.68% |
| BANK OF CHINA-H | — | $87.35M | 1.62% |
| KDDI Corporation | 9433 | $86.22M | 1.59% |
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 SAI International Low Volatility Index Fund · FSKLX | 46% | 0.16% |
| Fidelity SAI Emerging Markets Low Volatility Index Fund · FGKPX | 28% | 0.24% |
| iShares MSCI EAFE Min Vol Factor ETF · EFAV | 25% | 0.20% |
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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