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Fidelity True North Fund Series A

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Canadian Equity

FundGrade B Click for more information on Fundata’s FundGrade

FundGrade B

Click for more information on Fundata’s FundGrade.

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

Fundata ESG Grade C

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
(05-20-2025) 		$64.23
Change
$0.31 (0.49%)

As at April 30, 2025

As at March 31, 2025

As at April 30, 2025

Period
Created with Highcharts 10.3.3Jan 1997Jan 1999Jan 2001Jan 2003Jan 2005Jan 2007Jan 2009Jan 2011Jan 2013Jan 2015Jan 2017Jan 2019Jan 2021Jan 2023Jan 2025Apr 2022Jul 2022Oct 2022Apr 2023Jul 2023Oct 2023Jan 2024Apr 2024Jul 2024Oct 2024Jan 1997Jan 2001Jan 2005Jan 2009Jan 2013Jan 2017Jan 2021$10,000$110,000$35,000$60,000$85,000$135,000$8,000$9,000$11,000$12,000$13,000Period

Legend

Fidelity True North Fund Series A

Compare Options

Fund Returns

Inception Return (September 23, 1996): 8.57%

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 1.01% -0.21% 4.12% 1.96% 13.83% 10.64% 8.17% 8.31% 12.09% 9.62% 9.35% 8.14% 8.36% 7.15%
Benchmark -0.10% -2.00% 4.34% 1.41% 17.85% 13.20% 9.57% 10.07% 14.37% 10.31% 10.21% 9.29% 9.91% 8.27%
Category Average 0.23% -1.84% 3.11% 0.90% 14.34% 10.68% 7.88% 8.62% 12.76% 8.73% 8.40% 7.51% 8.11% 6.76%
Category Rank 143 / 750 123 / 747 284 / 745 180 / 745 489 / 724 468 / 704 404 / 671 412 / 598 419 / 556 232 / 539 203 / 488 219 / 459 257 / 423 221 / 388
Quartile Ranking 1 1 2 1 3 3 3 3 4 2 2 2 3 3

Monthly Return

Created with Highcharts 10.3.3-4%-2%0%2%4%6%8%
Monthly Return
Return % May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr
Fund 2.80% -0.76% 5.00% -0.66% 1.94% 0.78% 5.02% -2.76% 2.18% 0.49% -1.69% 1.01%
Benchmark 2.77% -1.42% 5.87% 1.22% 3.15% 0.85% 6.37% -3.27% 3.48% -0.40% -1.51% -0.10%

Best Monthly Return Since Inception

14.68% (December 1999)

Worst Monthly Return Since Inception

-16.55% (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 -2.10% 9.75% 4.65% -5.24% 16.99% 9.78% 22.93% -5.59% 9.82% 15.96%
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 93/ 383 403/ 411 382/ 454 59/ 480 470/ 526 59/ 552 375/ 587 375/ 655 392/ 693 583/ 720

Best Calendar Return (Last 10 years)

22.93% (2021)

Worst Calendar Return (Last 10 years)

-5.59% (2022)

Asset Allocation

Asset Allocation
Name Percent
Canadian Equity 90.96
Cash and Equivalents 3.51
US Equity 3.13
Income Trust Units 0.85
International Equity 0.79
Other 0.76

Sector Allocation

Sector Allocation
Name Percent
Financial Services 27.41
Basic Materials 11.96
Consumer Services 11.84
Energy 11.26
Technology 9.06
Other 28.47

Geographic Allocation

Geographic Allocation
Name Percent
North America 97.99
Europe 0.79
Latin America 0.52
Other 0.70

Top Holdings

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

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 Return5678910111213141516171819200%5%10%15%20%25%

Fidelity True North Fund Series A

Median

Other - Canadian Equity

3 Yr Annualized

Standard Deviation 10.65% 10.71% 10.31%
Beta 0.77% 0.83% 0.77%
Alpha 0.01% 0.00% 0.01%
Rsquared 0.96% 0.95% 0.92%
Sharpe 0.42% 0.90% 0.56%
Sortino 0.79% 1.43% 0.65%
Treynor 0.06% 0.12% 0.07%
Tax Efficiency 88.20% 90.01% 88.14%
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 8.43% 10.65% 10.71% 10.31%
Beta 0.78% 0.77% 0.83% 0.77%
Alpha 0.00% 0.01% 0.00% 0.01%
Rsquared 0.91% 0.96% 0.95% 0.92%
Sharpe 1.14% 0.42% 0.90% 0.56%
Sortino 2.70% 0.79% 1.43% 0.65%
Treynor 0.12% 0.06% 0.12% 0.07%
Tax Efficiency 94.24% 88.20% 90.01% 88.14%

Fundata ESG Metrics

Fundata ESG Score

Created with Highcharts 10.3.3Grade: EGrade: DGrade: CGrade: BGrade: A30.5​30.547.3​47.30%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: A37.8​37.850.5​50.50%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: A29.2​29.244.2​44.20%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: A21.0​21.043.4​43.40%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 23, 1996
Instrument Type Mutual Fund
Share Class Commission Based Advice
Legal Status Trust
Sales Status Open
Currency CAD
Distribution Frequency Annual
Assets ($mil) $13

Fund Codes

FundServ Code Load Code Sales Status
FID036
FID525
FID825

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 2.47%
Management Fee 2.00%
Load Front Fee Only
FE Max -
DSC Max 6.00%
Trailer Fee Max (FE) -
Trailer Fee Max (DSC) 1.00%
Trailer Fee Max (NL) -
Trailer Fee Max (LL) -

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