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Fidelity Long/Short Alternative Fund Series B

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Alternative Equity Focus

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.

NAVPS
(07-23-2025) 		$17.66
Change
$0.07 (0.38%)

As at June 30, 2025

As at March 31, 2025

As at June 30, 2025

Period
Created with Highcharts 10.3.3Jan 2023Jan 2024Jan 2025Jul 2022Oct 2022Apr 2023Jul 2023Oct 2023Apr 2024Jul 2024Oct 2024Apr 2025May 2021Jan 2022Sep 2022May 2023Jan 2024Sep 2024May 2025May …$10,000$12,000$14,000$16,000Period

Legend

Fidelity Long/Short Alternative Fund Series B

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Fund Returns

Inception Return (October 16, 2020): 12.85%

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 1.49% -0.09% 2.12% 2.12% 9.56% 13.59% 14.77% 9.17% - - - - - -
Benchmark 2.91% 8.53% 10.17% 10.17% 26.37% 19.03% 16.09% 10.74% 15.02% 11.96% 10.77% 10.72% 10.76% 9.61%
Category Average 3.60% 6.84% 5.72% 5.72% 12.00% 13.59% 10.27% 6.62% 9.88% 7.64% - - - -
Category Rank 173 / 246 199 / 233 147 / 224 147 / 224 115 / 198 60 / 151 47 / 136 35 / 109 - - - - - -
Quartile Ranking 3 4 3 3 3 2 2 2 - - - - - -

Monthly Return

Created with Highcharts 10.3.3-6%-4%-2%0%2%4%6%8%
Monthly Return
Return % Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun
Fund 2.34% -0.07% 0.74% 0.82% 5.34% -1.95% 4.18% 1.50% -3.34% -4.06% 2.61% 1.49%
Benchmark 5.87% 1.22% 3.15% 0.85% 6.37% -3.27% 3.48% -0.40% -1.51% -0.10% 5.56% 2.91%

Best Monthly Return Since Inception

7.63% (November 2020)

Worst Monthly Return Since Inception

-6.06% (June 2022)

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 - - - - - - 27.28% -5.89% 13.70% 19.38%
Benchmark -8.32% 21.08% 9.10% -8.89% 22.88% 5.60% 25.09% -5.84% 11.75% 21.65%
Category Average - - - - - 5.11% 17.27% -5.96% 6.54% 16.58%
Quartile Ranking - - - - - - 1 3 2 2
Category Rank - - - - - - 23/ 101 63/ 125 49/ 143 70/ 167

Best Calendar Return (Last 10 years)

27.28% (2021)

Worst Calendar Return (Last 10 years)

-5.89% (2022)

Asset Allocation

Asset Allocation
Name Percent
US Equity 49.81
Canadian Equity 25.05
Cash and Equivalents 18.59
International Equity 4.80
Income Trust Units 1.71
Other 0.04

Sector Allocation

Sector Allocation
Name Percent
Financial Services 24.59
Consumer Services 19.03
Cash and Cash Equivalent 18.59
Technology 7.24
Basic Materials 6.62
Other 23.93

Geographic Allocation

Geographic Allocation
Name Percent
North America 95.33
Europe 4.69

Top Holdings

Top Holdings
Name Percent
U.S. DOLLAR 9.41
Fidelity U.S. Money Market Investment Trust O 9.24
Berkshire Hathaway Inc Cl B 3.83
Progressive Corp 3.67
Toronto-Dominion Bank 3.27
Fairfax Financial Holdings Ltd 3.25
Franco-Nevada Corp 3.06
Westinghouse Air Brake Techs Corp 3.04
Restaurant Brands International Inc 2.91
Dollar Tree Inc 2.87

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 Return51015202530354045-40%-20%0%20%40%60%

Fidelity Long/Short Alternative Fund Series B

Median

Other - Alternative Equity Focus

3 Yr Annualized

Standard Deviation 8.97% - -
Beta 0.51% - -
Alpha 0.06% - -
Rsquared 0.51% - -
Sharpe 1.14% - -
Sortino 2.46% - -
Treynor 0.20% - -
Tax Efficiency 99.30% - -
Volatility Volatility rating is 4 on a scale of 1 to 10 - -

Risk Rating

Rating 4 out of ten

Annualized Key Ratio Period Comparison

Key Ratio
Key Ratio 1 Yr 3 Yr 5 Yr 10 Yr
Standard Deviation 9.79% 8.97% - -
Beta 0.74% 0.51% - -
Alpha -0.08% 0.06% - -
Rsquared 0.64% 0.51% - -
Sharpe 0.64% 1.14% - -
Sortino 1.09% 2.46% - -
Treynor 0.08% 0.20% - -
Tax Efficiency 100.00% 99.30% - -

Fundata ESG Metrics

Fundata ESG Score

Created with Highcharts 10.3.3Grade: EGrade: DGrade: CGrade: BGrade: A12.6​12.652.3​52.30%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: A24.6​24.656.1​56.10%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: A13.0​13.047.4​47.40%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: A11.8​11.852.6​52.60%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 October 16, 2020
Instrument Type Mutual Fund (Alternative)
Share Class Commission Based Advice
Legal Status Trust
Sales Status Open
Currency CAD
Distribution Frequency Annual
Assets ($mil) $227

Fund Codes

FundServ Code Load Code Sales Status
FID2492

Investment Objectives

The Fund aims to provide long-term capital appreciation by investing primarily in long and short positions of equity securities of companies located in Canada and/or the United States. The Fund may use leverage through the use of short selling, generally around 30% of its net asset value but may short sell up to 50% of its net asset value, and by investing in derivatives.

Investment Strategy

To meet the Fund’s objectives, the portfolio management team: Will maintain both long and short exposure to a diversified portfolio of primarily Canadian and U.S. equities which involves simultaneously investing in equities (investing long) of companies that are expected to increase in value and immediately selling equities (investing short) of companies that are expected to decrease in value relative to their comparables and/or to seek to reduce the Fund’s portfolio risk.

Portfolio Management

Portfolio Manager

Fidelity Investments Canada ULC

  • David Way
Sub-Advisor

Fidelity Canada Investment Management

Management and Organization

Fund Manager

Fidelity Investments Canada ULC
Custodian

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 -
SWP Min Withdrawal -

Fees

MER 2.68%
Management Fee 2.15%
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) -

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