• NAV $11.47 30-Oct-2026
  • decrease
    -$0.01 / -0.09% Daily NAV change
  • decrease
    10.34% YTD return
  • MARKET PRICE 30-Oct-2026
  • $11.47   
  • Inception 10-Oct-2025
  • Aggregate exposure
    Long 107.1%
    Short -34.5%
    Net 72.6%
    Cash 27.4%
    30-Sep-2026
  • Aggregate assets
    (all series)     $188.4M
    31-Oct-2026
  • Units outstanding 3,475,000
    02-Nov-2026
  • Management fee 1.10%
  • MER 1.44%
    30-Jun-2026
  • Distributions
  • Benchmark Blended benchmark**
  • Exchange Toronto Stock Exchange
  • CUSIP 31624K106
  • Morningstar category Alternative Multi - Strategy
  • Also available through: Trust US$, Trust CDN$ and Trust T-Series S5
  • Get ETF Facts
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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 (%) 31-Oct-2026

YTD 2026
ETF (NAV) 10.34
ETF (Market price) -

Standard period returns (%) 31-Oct-2026

1 mo 3 mo 6 mo 1 yr Inception†
ETF (NAV) 2.72 4.00 7.49 14.33 14.09
ETF (Market price) - - - - -

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 (%)

30-Sep-2026
  • Fund name Percentage
    Fidelity Long/Short Alternative Fund 39.9
    Fidelity Global Value Long/Short Fund 15.1
    Fidelity Market Neutral Alternative Fund 15.1
    Fidelity Global Opportunities Long/Short Fund 15.1
    Fidelity Canadian Long/Short Alternative Fund 12.5
    Fidelity Advantage Bitcoin ETF Fund 2.6
  • Fund name Percentage
    Net other assets -0.1

Allocation

Asset mix (%)

30-Sep-2026
Long Short Net
Foreign Equities 68.4 -25.8 42.6
Canadian Equities 38.8 -8.7 30.1
Cash & Other 27.7 -0.3 27.4

Country mix (%)

30-Sep-2026
Long Short Net
United States 57.9 -24.3 33.6
Canada 38.8 -8.8 30.0
United Kingdom 3.9 -0.1 3.8
Multinational 2.5 - 2.5
France 1.8 -0.1 1.7
Germany 1.5 -0.2 1.3
Netherlands 1.7 -0.4 1.3
Taiwan 1.0 - 1.0
Ireland 0.9 - 0.9
Japan 0.8 - 0.8
Sweden 0.9 -0.1 0.8
Switzerland 0.7 -0.1 0.7
China 0.6 - 0.6
Denmark 0.5 - 0.5
South Korea 0.5 -0.1 0.5
Hong Kong 0.4 - 0.4
Italy 0.6 -0.2 0.4
Australia 0.4 - 0.4
Nigeria 0.2 - 0.2
Norway 0.2 - 0.2
Israel 0.3 -0.1 0.2
Belgium 0.2 - 0.2
Brazil 0.1 - 0.1
Mexico 0.1 - 0.1
India 0.1 - 0.1
Austria - -0.1 -0.1
Spain - -0.1 -0.1

Sector mix (%)

30-Sep-2026
Long Short Net
Financials 18.2 -3.7 14.5
Industrials 20.3 -8.9 11.4
Materials 10.4 -1.2 9.3
Information Technology 16.5 -7.6 8.9
Health Care 8.4 -0.8 7.6
Consumer Disc. 11.9 -5.1 6.8
Real Estate 4.3 -0.2 4.1
Consumer Staples 5.9 -2.1 3.8
Communication Services 5.1 -1.4 3.7
Energy 4.7 -1.0 3.7
Utilities 2.8 -1.2 1.6
Multi Sector 1.3 -1.4 -0.1

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 Corporation
  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 Corporation
  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