Fidelity SAI Emerging Markets Index
FERGX
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- Fidelity SAI Emerging Markets Index Fund (FERGX) is an open-end equity index mutual fund that seeks to provide investment results corresponding to the total return of the MSCI Emerging Markets Index. The fund normally invests at least 80% of its assets in securities included in the MSCI Emerging Markets Index and depositary receipts representing such securities; it employs statistical sampling techniques based on factors including capitalization, industry exposures, dividend yield, price/earnings ratio, price/book ratio, earnings growth, and country weightings to replicate the index's returns. With top holdings such as Taiwan Semiconductor Manufacturing Co Ltd, Tencent Holdings Ltd, Samsung Electronics Co Ltd, Alibaba Group Holding Ltd, and Fidelity Cash Central Fund, the portfolio emphasizes large-blend stocks across diversified sectors like technology (approximately 24%), financial services (23%), and consumer cyclical (13%), primarily in emerging Asia, developed Asia, Latin America, the Middle East, and Africa. Launched on January 5, 2016, and domiciled in the United States, the fund is part of Fidelity Salem Street Trust and managed by Fidelity Management & Research Company LLC with co-management by Geode Capital Management, LLC; it maintains a low net expense ratio of 0.08%, total net assets exceeding $5 billion, and is available to U.S. investors with no minimum initial investment. As of recent data, the fund features a turnover ratio of approximately 29-32% and a 12-month yield around 2.2-2.6%, with a Bronze Morningstar Medalist Rating supported by its cost advantage and management team despite an Average Process Pillar rating. The fund has sustained steady asset growth and performance tracking amid volatile emerging markets, with no major acquisitions, partnerships, funding rounds, or strategic shifts reported in the last 1-2 years.