FEMUX Fees and Costs — Fidelity Equity Market Neutral Fund, Class I
Data updated: 2026-09-23
The net expense ratio is 1.13% (2.77% before fee waivers). There are no sales loads or redemption fees. In fiscal 2026 the fund paid $20K in broker commissions, 0.1335% of average net assets, and portfolio turnover was 59%.
FEMUX Fees and Expenses
Annual operating expenses and sales charges of FEMUX. Prospectus, as of April 1, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 1.00% |
| 12b-1 fee | 0.00% |
| Other expenses | 1.74% |
| Gross expense ratio | 2.77% |
| Fee waiver | −1.64% |
| Net expense ratio | 1.13% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| 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 |
FEMUX Costs Over Time
On $10,000 invested in FEMUX, assuming 5% a year before costs, total costs come to $786 over 5 years, cutting the return by 1.33% 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 |
| Fund expenses (net expense ratio 1.13%) | $119 | $369 | $638 |
| Trading costs (broker commissions) | $14 | $44 | $75 |
| Lost growth on money paid in costs | $0 | $20 | $72 |
| Total costs | $133 | $433 | $786 |
| Value after costs | $10,367 | $11,143 | $11,977 |
| Impact on return, per year | 1.33% | 1.33% | 1.33% |
FEMUX 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): 0.1335%
- Total broker commissions: $20K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 59%
- Securities lending: none during the year
FEMUX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| JPMORGAN CHASE and CO | $5K | 26.71% |
| GOLDMAN SACHS GROUP INC (THE) | $4K | 22.00% |
| UBS GROUP AG | $2K | 12.70% |
| MORGAN STANLEY | $2K | 10.49% |
| BANK OF AMERICA CORPORATION | $1K | 7.72% |
| JEFFERIES FINANCIAL GROUP INC | $1K | 6.62% |
| ODDO and CIE | $688 | 3.95% |
| BARCLAYS PLC | $665 | 3.82% |
| BNP PARIBAS | $573 | 3.29% |
| NORDEA BANK ABP | $471 | 2.70% |
Fidelity Equity Market Neutral Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| FEMWX | Class Z | 1.08% | none |
| FEMNX | Fidelity Equity Market Neutral Fund | 1.13% | — |
| FEMUX | Class I | 1.13% | none |
| FEMLX | Class A | 1.38% | 5.75% |
| FEMOX | Class M | 1.63% | 3.50% |
| FEMQX | Class C | 2.13% | 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.