• NAV $10.72 13-Feb-2026
  • $0.07 / 0.68% Daily NAV change
  • 3.11% YTD return
  • MARKET PRICE 13-Feb-2026
  • $10.72   
  • Inception 10-Oct-2025
  • Aggregate exposure
    Long 106.6%
    Short -34.2%
    Net 72.4%
    Cash 27.6%
    31-Dec-2025
  • Aggregate assets
    (all series)     $74.1M
    31-Jan-2026
  • Units outstanding 3,710,000
    13-Feb-2026
  • Management fee 1.10%
  • Distributions
  • Benchmark Blended benchmark**
  • Exchange Toronto Stock Exchange
  • CUSIP 31624K106
  • Morningstar category Alternative Multi - Strategy
  • Also available through: Trust US$, Trust CDN$ and Trust T-Series S5
  • Get ETF Facts

In accordance with National Instrument 81-102, performance cannot be shown until one year after a fund's inception.

Start NAV

$10.0000

End NAV

$10.4031
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Why invest in this fund?

  • Provides access to a diverse mix of equity-focused alternative strategies in a single solution.
  • Combines Fidelity's liquid alternatives capabilities to help diversify risk and offer the potential for capital growth, while aiming for lower volatility and reduced correlation to equity markets.
  • Underlying funds managed by experienced portfolio managers, leveraging Fidelity’s fundamental research capabilities.

Calendar returns

In accordance with National Instrument 81-102, performance cannot be shown until one year after a fund's inception.

Standard period returns

In accordance with National Instrument 81-102, performance cannot be shown until one year after a fund's inception.

Risk measures

Risk measures cannot be calculated on funds that are less than three years old. This fund does not yet meet the required criteria.

Risk classification

  1. Low
  2. Low to medium
  3. Medium
  4. Medium to high
  5. High

This fund has a low to medium volatility rating

Allocation to underlying funds (%)

31-Dec-2025
  • Fund name Percentage
    Fidelity Long/Short Alternative 49.9
    Fidelity Global Value Long/Short Fund - Series O 15.3
    Fidelity Market Neutral Alternative 15.0
  • Fund name Percentage
    Fid Cad LS Alt - Ser O 17.5
    Adv Bitcoin ETF Fd - O 2.5
    Net other assets -0.2

Allocation

Asset mix (%)

31-Dec-2025
Long Short Net
Foreign Equities 61.4 -24.2 37.2
Canadian Equities 45.2 -10.0 35.2
Cash & Other 27.7 - 27.6

Country mix (%)

31-Dec-2025
Long Short Net
United States 59.1 -23.6 35.5
Canada 45.3 -10.1 35.2
United Kingdom 3.3 - 3.3
Multinational 2.5 - 2.5
France 1.2 - 1.2
Taiwan 1.1 - 1.1
Netherlands 0.8 -0.2 0.6
Sweden 0.5 -0.1 0.4
Switzerland 0.4 - 0.4
China 0.4 - 0.4
South Korea 0.3 - 0.3
Denmark 0.3 - 0.3
Japan 0.2 - 0.2
Germany 0.3 -0.1 0.2
Brazil 0.2 - 0.2
Israel 0.2 - 0.2
Australia - -0.1 -0.1
South Africa - -0.1 -0.1

Sector mix (%)

31-Dec-2025
Long Short Net
Financials 20.2 -5.4 14.8
Industrials 18.7 -7.3 11.4
Consumer Staples 11.3 -1.3 10.0
Materials 8.5 -1.2 7.3
Communication Services 8.5 -1.6 6.9
Health Care 7.7 -0.9 6.8
Information Technology 10.8 -6.6 4.2
Real Estate 4.4 -0.5 3.9
Consumer Disc. 9.7 -6.2 3.5
Utilities 4.2 -0.9 3.3
Energy 3.0 -1.3 1.8
Multi Sector 2.0 -1.1 0.9

Portfolio managers