• NAV $11.19 04-Sep-2026
  • decrease
    -$0.02 / -0.18% Daily NAV change
  • decrease
    7.64% YTD return
  • MARKET PRICE 04-Sep-2026
  • $11.20   
  • Inception 10-Oct-2025
  • Aggregate exposure
    Long 107.4%
    Short -35.2%
    Net 72.3%
    Cash 27.8%
    31-Jul-2026
  • Aggregate assets
    (all series)     $155.8M
    31-Aug-2026
  • Units outstanding 2,765,000
    04-Sep-2026
  • Management fee 1.10%
  • MER 1.45%
    31-Dec-2025
  • Distributions
  • Benchmark Blended benchmark**
  • Exchange Toronto Stock Exchange
  • CUSIP 31624K106
  • Morningstar category Alternative Multi - Strategy
  • Also available through: Trust US$, 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.

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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-Jul-2026
  • Fund name Percentage
    Fidelity Long/Short Alternative Fund 40.1
    Fidelity Market Neutral Alternative Fund 14.4
  • Fund name Percentage
    Fidelity Global Value Long/Short Fund 15.8
    Fidelity Global Opportunities Long/Short Fund 14.5
    Fidelity Canadian Long/Short Alternative Fund 13.6
    Fidelity Advantage Bitcoin ETF Fund 1.8
  • Fund name Percentage
    Net other assets -0.1

Allocation

Asset mix (%)

31-Jul-2026
Long Short Net
Foreign Equities 67.0 -25.6 41.4
Canadian Equities 40.4 -9.6 30.8
Cash & Other 28.4 -0.7 27.8

Country mix (%)

31-Jul-2026
Long Short Net
Canada 41.4 -9.6 31.8
United States 55.0 -24.5 30.6
United Kingdom 3.6 -0.2 3.4
France 2.1 -0.1 2.1
Netherlands 2.2 -0.3 1.8
Multinational 1.8 - 1.8
Germany 1.7 -0.2 1.5
Ireland 1.3 - 1.3
China 1.2 - 1.2
Japan 1.0 - 1.0
Taiwan 0.9 - 0.9
Sweden 0.6 -0.1 0.5
Hong Kong 0.5 - 0.5
Denmark 0.4 - 0.4
Switzerland 0.5 -0.1 0.4
Australia 0.4 - 0.4
South Korea 0.5 -0.1 0.4
Belgium 0.3 - 0.3
Italy 0.3 -0.1 0.3
Finland 0.2 - 0.2
Israel 0.2 - 0.2
Brazil 0.2 - 0.2
Nigeria 0.1 - 0.1
Mexico 0.1 - 0.1
Austria - -0.1 -0.1

Sector mix (%)

31-Jul-2026
Long Short Net
Financials 18.4 -4.7 13.7
Information Technology 19.1 -7.0 12.1
Industrials 20.0 -8.3 11.7
Materials 9.5 -1.3 8.1
Health Care 8.2 -1.1 7.1
Consumer Disc. 10.3 -5.2 5.1
Real Estate 4.5 -0.3 4.2
Consumer Staples 5.9 -2.0 3.9
Communication Services 5.2 -1.5 3.7
Energy 4.6 -1.2 3.4
Utilities 2.9 -1.2 1.7
Multi Sector 0.6 -1.3 -0.7

Top ten holdings

  1. Royal Bank of Canada
  2. Toronto-Dominion Bank
  3. Westinghouse Air Brake Technologies
  4. Canadian National Railway
  5. Bank of Montreal
  6. Nvidia
  7. Franco-Nevada
  8. Shopify
  9. Linde plc
  10. CBRE Group
  1. Royal Bank of Canada
  2. Agnico Eagle Mines
  3. Alphabet, Cl. A
  4. Franco-Nevada
  5. Suncor Energy
  6. Nvidia
  7. Shopify
  8. Toronto-Dominion Bank
  9. Meta Platforms
  10. Westinghouse Air Brake Technologies
  1. Royal Bank of Canada
  2. Toronto-Dominion Bank
  3. Alphabet, Cl. A
  4. SPDR Gold Trust ETF
  5. Franco-Nevada
  6. Caterpillar
  7. Agnico Eagle Mines
  8. Microsoft
  9. Restaurant Brands International
  10. Bank of Montreal
View all

Portfolio managers