FRVEX Fees and Costs — Fidelity Real Estate Investment Portfolio
Data updated: 2026-10-13
The net expense ratio is 1.68%: a 0.66% management fee, a 1.00% 12b-1 fee plus 0.02% other expenses. This share class carries a deferred sales charge of up to 1.00%. In fiscal 2026 the fund paid $473K in broker commissions, 0.0152% of average net assets, and portfolio turnover was 30%.
FRVEX Fees and Expenses
Annual operating expenses and sales charges of FRVEX. Prospectus, as of September 29, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.66% |
| 12b-1 fee | 1.00% |
| Other expenses | 0.02% |
| Gross expense ratio | 1.68% |
| Fee waiver | — |
| Net expense ratio | 1.68% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 1.00% |
| Redemption fee | — |
FRVEX Costs Over Time
On $10,000 invested in FRVEX, assuming 5% a year before costs, total costs come to $1,046 over 5 years, cutting the return by 1.78% 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 | $103 | $0 | $0 |
| Fund expenses (net expense ratio 1.68%) | $176 | $546 | $941 |
| Trading costs (broker commissions) | $2 | $5 | $9 |
| Lost growth on money paid in costs | $0 | $27 | $97 |
| Total costs | $281 | $579 | $1,046 |
| Value after costs | $10,219 | $10,997 | $11,717 |
| Impact on return, per year | 2.81% | 1.78% | 1.78% |
FRVEX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending July 31, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0152%
- Total broker commissions: $473K
- Bought from dealers (principal trades, not a cost): $20.3M
- Portfolio turnover (prospectus): 30%
FRVEX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| ROYAL BANK OF CANADA | $111K | 29.65% |
| JPMORGAN CHASE and CO | $44K | 11.68% |
| GOLDMAN SACHS GROUP INC (THE) | $39K | 10.34% |
| BANK OF AMERICA CORPORATION | $37K | 10.00% |
| MORGAN STANLEY | $37K | 9.77% |
| UBS GROUP AG | $26K | 6.94% |
| JEFFERIES FINANCIAL GROUP INC | $24K | 6.49% |
| BARCLAYS PLC | $24K | 6.30% |
| WELLS FARGO and CO | $17K | 4.66% |
| VIRTU FINANCIAL INC | $16K | 4.17% |
FRVEX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| JPMORGAN CHASE and CO | $7.6M | 37.51% |
| MORGAN STANLEY | $5.5M | 27.31% |
| WELLS FARGO and CO | $5.5M | 26.98% |
| BANK OF AMERICA CORPORATION | $1.7M | 8.19% |
Fidelity Real Estate Investment Portfolio Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| FRVJX | C000270421 | 0.55% | none |
| FRESX | Fidelity Real Estate Investment Portfolio | 0.62% | — |
| FRVHX | C000270422 | 0.67% | none |
| FRVBX | C000270423 | 0.92% | 5.75% |
| FRVDX | C000270424 | 1.17% | 3.50% |
| FRVEX | C000270425 | 1.68% | 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.