Fund Library Home Page
Sign In Français

  • My Watchlist is is a members only feature. Sign in or Sign up for free access to the watchlist feature.

Try Fund Library Premium

For Free with a 30 day trial!

Gain access to

  • Unlimited Watchlists
  • Advanced Search Filtering
  • Fund Comparisons
  • Portfolio Scenarios
  • Customizable PDF Reports
Sign up Now More Info

Fidelity True North Fund Series B

  • Premium Feature Only
Add to My Watchlist

Canadian Equity

FundGrade B Click for more information on Fundata’s FundGrade

FundGrade B

Click for more information on Fundata’s FundGrade.

Fundata ESG GradeD Click for more information on Fundata’s ESG Grade

Fundata ESG Grade D

Click for more information on Fundata’s ESG Grade.

FundGrade A+® Rating Recipient

FundGrade A+® Rating Recipient

2021, 2015

Click for more information on Fundata’s FundGrade

NAVPS
(11-19-2025) 		$72.02
Change
$0.54 (0.76%)

As at October 31, 2025

As at September 30, 2025

As at October 31, 2025

Period
Created with Highcharts 10.3.3Jan 2023Jan 2025Apr 2023Jul 2023Oct 2023Jan 2024Apr 2024Jul 2024Oct 2024Apr 2025Jul 2025Oct 2025Jan 2000Jan 2004Jan 2008Jan 2012Jan 2016Jan 2020Jan 2024$10,000$8,000$12,000$14,000$16,000Period

Legend

Fidelity True North Fund Series B

Compare Options

Fund Returns

Inception Return (September 20, 1996): 9.14%

Fund Returns
Row Heading Return Annualized Return
1 Mth 3 Mth 6 Mth YTD 1 Yr 2 Yr 3 Yr 4 Yr 5 Yr 6 Yr 7 Yr 8 Yr 9 Yr 10 Yr
Fund 0.50% 6.61% 16.01% 18.38% 20.93% 22.19% 15.06% 9.69% 14.74% 12.23% 12.19% 10.19% 9.73% 9.46%
Benchmark 0.97% 11.70% 23.39% 25.13% 28.75% 30.39% 19.52% 12.89% 17.64% 14.06% 13.94% 11.61% 11.60% 11.71%
Category Average 0.34% 7.75% 17.72% 18.78% 21.38% 24.29% 15.60% 10.42% 15.20% 11.62% 11.38% 9.25% 9.31% 9.33%
Category Rank 334 / 774 509 / 763 478 / 746 419 / 737 406 / 737 544 / 709 443 / 684 415 / 637 364 / 579 253 / 546 234 / 510 191 / 469 230 / 440 232 / 403
Quartile Ranking 2 3 3 3 3 4 3 3 3 2 2 2 3 3

Monthly Return

Created with Highcharts 10.3.3-4%-2%0%2%4%6%8%
Monthly Return
Return % Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct
Fund 5.04% -2.74% 2.20% 0.51% -1.67% 1.03% 4.66% 2.50% 1.44% 2.63% 3.36% 0.50%
Benchmark 6.37% -3.27% 3.48% -0.40% -1.51% -0.10% 5.56% 2.91% 1.69% 4.96% 5.40% 0.97%

Best Monthly Return Since Inception

14.68% (December 1999)

Worst Monthly Return Since Inception

-16.53% (October 2008)

Calendar Return (%)

Created with Highcharts 10.3.3-20%-10%0%10%20%30%
Calendar Return
Return % 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Fund -1.89% 9.97% 4.87% -5.04% 17.23% 10.01% 23.19% -5.37% 10.09% 16.24%
Benchmark -8.32% 21.08% 9.10% -8.89% 22.88% 5.60% 25.09% -5.84% 11.75% 21.65%
Category Average -6.15% 16.46% 6.89% -9.47% 19.21% 3.42% 23.26% -4.82% 9.85% 17.87%
Quartile Ranking 1 4 4 1 4 1 3 3 3 4
Category Rank 83/ 379 395/ 407 358/ 449 51/ 475 457/ 521 49/ 547 354/ 581 350/ 648 355/ 685 552/ 710

Best Calendar Return (Last 10 years)

23.19% (2021)

Worst Calendar Return (Last 10 years)

-5.37% (2022)

Asset Allocation

Asset Allocation
Name Percent
Canadian Equity 89.13
US Equity 4.18
International Equity 3.41
Cash and Equivalents 2.43
Income Trust Units 0.72
Other 0.13

Sector Allocation

Sector Allocation
Name Percent
Financial Services 25.60
Basic Materials 15.12
Energy 10.36
Technology 10.36
Consumer Services 10.33
Other 28.23

Geographic Allocation

Geographic Allocation
Name Percent
North America 95.84
Europe 2.20
Latin America 0.72
Other 1.24

Top Holdings

Top Holdings
Name Percent
Toronto-Dominion Bank -
Shopify Inc Cl A -
Royal Bank of Canada -
Agnico Eagle Mines Ltd -
Franco-Nevada Corp -
Alimentation Couche-Tard Inc Cl A -
TC Energy Corp -
Fairfax Financial Holdings Ltd -
Fidelity Canadian Money Market Investment Trust O -
Rogers Communications Inc Cl B -

Equity Style

Market capitalization is large. Equity style is growth.

Fixed Income Style

Fixed income style data not available
Period: 

Risk vs Return (3 Yr)

Created with Highcharts 10.3.3Risk (Annualized Standard Deviation)ReturnMedian DeviationMedian Return6810121416182022245%10%15%20%25%30%35%40%

Fidelity True North Fund Series B

Median

Other - Canadian Equity

3 Yr Annualized

Standard Deviation 8.92% 10.59% 10.27%
Beta 0.73% 0.81% 0.77%
Alpha 0.01% 0.00% 0.00%
Rsquared 0.95% 0.95% 0.92%
Sharpe 1.18% 1.11% 0.76%
Sortino 2.44% 1.89% 0.99%
Treynor 0.15% 0.14% 0.10%
Tax Efficiency 93.25% 91.76% 90.74%
Volatility Volatility rating is 5 on a scale of 1 to 10 Volatility rating is 6 on a scale of 1 to 10 Volatility rating is 5 on a scale of 1 to 10

Risk Rating

Rating 5 out of ten

Annualized Key Ratio Period Comparison

Key Ratio
Key Ratio 1 Yr 3 Yr 5 Yr 10 Yr
Standard Deviation 8.01% 8.92% 10.59% 10.27%
Beta 0.72% 0.73% 0.81% 0.77%
Alpha 0.01% 0.01% 0.00% 0.00%
Rsquared 0.92% 0.95% 0.95% 0.92%
Sharpe 2.08% 1.18% 1.11% 0.76%
Sortino 4.62% 2.44% 1.89% 0.99%
Treynor 0.23% 0.15% 0.14% 0.10%
Tax Efficiency 96.08% 93.25% 91.76% 90.74%

Fundata ESG Metrics

Fundata ESG Score

Created with Highcharts 10.3.3Grade: EGrade: DGrade: CGrade: BGrade: A22.8​22.835.3​35.30%10%20%30%40%50%60%70%80%90%100%

The E, S, and G scores are averaged for each security in the portfolio, to arrive at an ESG score for each security. We take the portfolio weighted average of the ESG scores for each fund and rank them against their peers to arrive at the Fundata ESG Score from 0-100.

Fundata E Score

Created with Highcharts 10.3.3Grade: EGrade: DGrade: CGrade: BGrade: A27.9​27.937.5​37.50%10%20%30%40%50%60%70%80%90%100%

Three scores under the Environment bucket are averaged to yield the Fundata Environment Score for each fund from 0-100: (1) Pollution Prevention, (2) Environmental Transparency, (3) Resource Efficiency.

Fundata S Score

Created with Highcharts 10.3.3Grade: EGrade: DGrade: CGrade: BGrade: A22.7​22.732.3​32.30%10%20%30%40%50%60%70%80%90%100%

Six scores under the Social bucket are averaged to yield the Fundata Social Score for each fund from 0-100. (1) Compensation and Satisfaction, (2) Diversity and Rights, (3) Education and Work Conditions, (4) Community and Charity, (5) Human Rights, (6) Sustainability Integration.

Fundata G Score

Created with Highcharts 10.3.3Grade: EGrade: DGrade: CGrade: BGrade: A15.9​15.932.2​32.20%10%20%30%40%50%60%70%80%90%100%

Three scores under the governance bucket are averaged to yield the Fundata Governance Score for each fund from 0-100: (1) Board Effectiveness, (2) Management Ethics, (3) Disclosure and Accountability.

Powered by OWL Analytics. For more information, please contact Fundata Canada.

View the full methodology

Fund Details

Start Date September 20, 1996
Instrument Type Mutual Fund
Share Class Commission Based Advice
Legal Status Trust
Sales Status Open
Currency CAD
Distribution Frequency Annual
Assets ($mil) $7,016

Fund Codes

FundServ Code Load Code Sales Status
FID225

Investment Objectives

The Fund aims to achieve long-term capital growth. It invests primarily in equity securities of Canadian companies.

Investment Strategy

To meet the Fund’s objectives, the portfolio management team: When buying and selling equity securities, may consider factors about a company, including: > Financial condition. > Industry position. > Economic and market conditions. > Growth potential. > Earnings estimates. > Quality of management. May, by situation, consider ESG criteria when evaluating investment opportunities. The Fund may also: Invest in companies of any size. Invest up to 30% of its net assets in foreign securities.

Portfolio Management

Portfolio Manager

Fidelity Investments Canada ULC

  • Maxime Lemieux
Sub-Advisor

Fidelity Canada Investment Management

Management and Organization

Fund Manager

Fidelity Investments Canada ULC
Custodian

CIBC Mellon Trust Company

State Street Trust Company Canada
Registrar

Fidelity Investments Canada ULC
Distributor

Fidelity Investments Canada ULC

Investment Minimums

RSP Eligible Yes
PAC Allowed Yes
PAC Initial Investment 25
PAC Subsequent 25
SWP Allowed Yes
SWP Min Balance 5,000
SWP Min Withdrawal 50

Fees

MER 2.22%
Management Fee 1.85%
Load Back Fee Only
FE Max 5.00%
DSC Max -
Trailer Fee Max (FE) 1.00%
Trailer Fee Max (DSC) -
Trailer Fee Max (NL) -
Trailer Fee Max (LL) -

Try Fund Library Premium

For Free with a 30 day trial!

Gain access to

  • Unlimited Watchlists
  • Advanced Search Filtering
  • Fund Comparisons
  • Portfolio Scenarios
  • Customizable PDF Reports
Sign up Now More Info