FAPUX Fees and Costs — Fidelity Risk Parity Fund, Class A
Data updated: 2026-09-23
The net expense ratio is 0.98% (1.02% before fee waivers). This share class carries a maximum front-end sales load of 5.75%. In fiscal 2026 the fund paid $869 in broker commissions, 0.0077% of average net assets, and portfolio turnover was 51%.
FAPUX Fees and Expenses
Annual operating expenses and sales charges of FAPUX. Prospectus, as of April 1, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.60% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.04% |
| Gross expense ratio | 1.02% |
| Fee waiver | −0.04% |
| Net expense ratio | 0.98% |
| Sales charges | |
|---|---|
| Max front load | 5.75% |
| Max deferred load | 0.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
FAPUX Costs Over Time
On $10,000 invested in FAPUX, assuming 5% a year before costs, total costs come to $1,316 over 5 years, cutting the return by 2.26% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Sales charges | $575 | $575 | $575 |
| Fund expenses (net expense ratio 0.98%) | $97 | $303 | $525 |
| Trading costs (broker commissions) | $1 | $2 | $4 |
| Lost growth on money paid in costs | $29 | $106 | $212 |
| Total costs | $701 | $986 | $1,316 |
| Value after costs | $9,799 | $10,591 | $11,447 |
| Impact on return, per year | 7.01% | 3.07% | 2.26% |
FAPUX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending January 31, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0077%
- Total broker commissions: $869
- Bought from dealers (principal trades, not a cost): $852K
- Portfolio turnover (prospectus): 51%
- Securities lending: none during the year
FAPUX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| GOLDMAN SACHS GROUP INC (THE) | $316 | 36.85% |
| BANK OF AMERICA CORPORATION | $246 | 28.63% |
| MORGAN STANLEY | $74 | 8.60% |
| JEFFERIES FINANCIAL GROUP INC | $68 | 7.90% |
| JPMORGAN CHASE and CO | $64 | 7.45% |
| UBS GROUP AG | $44 | 5.17% |
| BARCLAYS PLC | $27 | 3.14% |
| LOOP CAPITAL MARKETS, LLC | $15 | 1.74% |
| CITIGROUP INC | $3 | 0.39% |
| PENSERRA SECURITIES LLC | $1 | 0.13% |
FAPUX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BANK OF MONTREAL QUE | $624K | 73.27% |
| NOMURA HOLDINGS INC | $109K | 12.78% |
| JEFFERIES FINANCIAL GROUP INC | $59K | 6.98% |
| WELLS FARGO and CO | $59K | 6.97% |
Fidelity Risk Parity Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| FAPZX | Class Z | 0.68% | none |
| FAPSX | Fidelity Risk Parity Fund | 0.73% | — |
| FAPYX | Class I | 0.73% | none |
| FAPUX | Class A | 0.98% | 5.75% |
| FAPWX | Class M | 1.23% | 3.50% |
| FAPVX | Class C | 1.73% | none |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.