FEQNX Fees and Costs — Fidelity Hedged Equity Fund, Class M
Data updated: 2026-09-23
The net expense ratio is 1.05%: a 0.55% management fee, a 0.50% 12b-1 fee plus 0.04% other expenses, less a 0.04% fee waiver. This share class carries a maximum front-end sales load of 3.50%. In fiscal 2026 the fund paid $78K in broker commissions, 0.0175% of average net assets, and portfolio turnover was 107%.
FEQNX Fees and Expenses
Annual operating expenses and sales charges of FEQNX. Prospectus, as of April 1, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.55% |
| 12b-1 fee | 0.50% |
| Other expenses | 0.04% |
| Gross expense ratio | 1.09% |
| Fee waiver | −0.04% |
| Net expense ratio | 1.05% |
| Sales charges | |
|---|---|
| Max front load | 3.50% |
| 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 |
FEQNX Costs Over Time
On $10,000 invested in FEQNX, assuming 5% a year before costs, total costs come to $1,090 over 5 years, cutting the return by 1.86% 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 | $350 | $350 | $350 |
| Fund expenses (net expense ratio 1.05%) | $106 | $332 | $575 |
| Trading costs (broker commissions) | $2 | $6 | $10 |
| Lost growth on money paid in costs | $17 | $72 | $156 |
| Total costs | $476 | $759 | $1,090 |
| Value after costs | $10,024 | $10,817 | $11,673 |
| Impact on return, per year | 4.76% | 2.35% | 1.86% |
FEQNX 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): 0.0175%
- Total broker commissions: $78K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 107%
- Securities on loan, average value: $1.5M
- Net income from securities lending: $4K (0.001% of average net assets)
FEQNX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| BANK OF AMERICA CORPORATION | $18K | 26.92% |
| GOLDMAN SACHS GROUP INC (THE) | $16K | 23.51% |
| MORGAN STANLEY | $8K | 11.77% |
| JPMORGAN CHASE and CO | $6K | 8.47% |
| UBS GROUP AG | $5K | 7.71% |
| VIRTU FINANCIAL INC | $4K | 6.31% |
| BARCLAYS PLC | $4K | 5.30% |
| JEFFERIES FINANCIAL GROUP INC | $2K | 3.56% |
| CITIGROUP INC | $2K | 3.31% |
| ROYAL BANK OF CANADA | $2K | 3.13% |
Fidelity Hedged Equity Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| FEQZX | Class Z | 0.50% | none |
| FEQHX | Fidelity Hedged Equity Fund | 0.55% | — |
| FEQJX | Class I | 0.55% | none |
| FEQAX | Class A | 0.80% | 5.75% |
| FEQNX | Class M | 1.05% | 3.50% |
| FEQDX | Class C | 1.55% | 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.