FSLEX Fees and Costs — Fidelity Environment and Alternative Energy Fund
Data updated: 2026-07-24
The net expense ratio is 0.68%: a 0.66% management fee plus 0.02% other expenses. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $84K in broker commissions, 0.0149% of average net assets, and portfolio turnover was 50%.
FSLEX Fees and Expenses
Annual operating expenses and sales charges of FSLEX. Prospectus, as of April 30, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.66% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.02% |
| Gross expense ratio | 0.68% |
| Fee waiver | — |
| Net expense ratio | 0.68% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
FSLEX Costs Over Time
On $10,000 invested in FSLEX, assuming 5% a year before costs, total costs come to $437 over 5 years, cutting the return by 0.73% 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 0.68%) | $71 | $223 | $389 |
| Trading costs (broker commissions) | $2 | $5 | $9 |
| Lost growth on money paid in costs | $0 | $11 | $40 |
| Total costs | $73 | $240 | $437 |
| Value after costs | $10,427 | $11,337 | $12,325 |
| Impact on return, per year | 0.73% | 0.73% | 0.73% |
FSLEX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending February 28, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0149%
- Total broker commissions: $84K
- Bought from dealers (principal trades, not a cost): $3.4M
- Portfolio turnover (prospectus): 50%
- Securities on loan, average value: $5.6M
- Net income from securities lending: $21K (0.004% of average net assets)
FSLEX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| CITIGROUP INC | $13K | 19.38% |
| BANK OF AMERICA CORPORATION | $12K | 17.66% |
| ROYAL BANK OF CANADA | $7K | 10.71% |
| GOLDMAN SACHS GROUP INC (THE) | $7K | 10.58% |
| JPMORGAN CHASE and CO | $6K | 8.88% |
| UBS GROUP AG | $5K | 8.40% |
| BARCLAYS PLC | $5K | 7.73% |
| VIRTU FINANCIAL INC | $4K | 6.16% |
| MORGAN STANLEY | $4K | 6.00% |
| TP ICAP GROUP PLC | $3K | 4.50% |
FSLEX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| GOLDMAN SACHS GROUP INC (THE) | $3.0M | 87.53% |
| MORGAN STANLEY | $197K | 5.84% |
| JPMORGAN CHASE and CO | $112K | 3.31% |
| JEFFERIES FINANCIAL GROUP INC | $112K | 3.31% |
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.