Fidelity Small Cap Enhanced Index Fund
FCPEX
NASDAQ- -
USD
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- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- Fidelity Commonwealth Trust II DE United States of America
- IPO Date
- Dec 21, 2007
- CIK
- 0001364923
- Similar Companies
- Business
- Fidelity Small Cap Enhanced Index Fund (FCPEX) is a mutual fund managed by Fidelity Investments that provides actively managed exposure to U.S. small-cap equities; it invests at least 80% of its assets in common stocks included in the Russell 2000 Index, employing a quantitative investment process with multifactor statistical models to select securities exhibiting improving fundamentals and reasonable valuations while balancing risk and return through dynamic factor allocation and top-down market insights. The fund offers diversified domestic equity strategies oriented toward small-cap core benchmarks, incorporating bottom-up stock selection and industry allocation to outperform the Russell 2000 Index on a risk-adjusted basis; portfolio characteristics include holdings in approximately 600 small-cap stocks, with key metrics such as a price/earnings ratio around 15-16, price/book of approximately 1.95, and a turnover rate of 61%. In November 2023, Fidelity announced the conversion of FCPEX, along with five other enhanced index mutual funds totaling over $13 billion in assets, into exchange-traded funds to deliver benefits including lower expenses, intraday trading, and enhanced liquidity for investors; specifically, FCPEX reorganized effective November 17, 2023, into the Fidelity Enhanced Small Cap ETF (ticker: FESM, NYSE Arca), retaining the same portfolio management team of Maximilian Kaufmann, Shashi Naik, and Anna Lester, with assets growing to approximately $1.67 billion and an expense ratio of 0.28% as of late 2024. Prior to the reorganization, the fund, which commenced operations on December 20, 2007, maintained assets under management around $500-580 million, primarily serving U.S. retail and institutional investors seeking small-cap growth with downside protection. The fund operates within the small blend category, with no significant subsidiaries or parent relationships beyond Fidelity Management & Research (FMR), headquartered in Boston, Massachusetts.