Fidelity Water Sustainability Fund
FLOWX
NASDAQ- -
USD
- -
- -
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
FRC
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 245 Summer Street Boston MA United States of America 02210
- IPO Date
- Apr 16, 2020
- CIK
- 0000225322
- Website
- fundresearch.fidelity.com
- Similar Companies
- Business
- Fidelity Water Sustainability Fund (FLOWX) is an actively managed mutual fund that seeks long-term growth of capital by investing at least 80% of its assets in equity securities of companies involved in water sustainability, including water resources, water treatment and purification, water distribution and utilities, desalination facilities, water technologies and analytics, environmental water services, water infrastructure such as pumps, valves, meters and pipes, irrigation, water conservation services, and water supply or processing services; the fund is non-diversified and employs a bottom-up stock-picking approach targeting companies across industrial water infrastructure, water scarcity, utility water infrastructure, and water quality segments, while benchmarking performance against the S&P Global Water Index and MSCI ACWI Index. Launched on April 16, 2020, as part of Fidelity Summer Street Trust and domiciled at 245 Summer Street in Boston, Massachusetts, the fund maintains a global investment universe with significant exposure to North America (approximately 63%), the United Kingdom (14%), and developed Europe, investing in both growth and value stocks across diversified market capitalizations while excluding companies involved in civilian semi-automatic firearms, tobacco, controversial weapons, and coal. It targets investors seeking thematic exposure to the water sector, leveraging Fidelity's global research and ESG insights to identify undervalued companies based on free cash flow potential. Recent portfolio adjustments as of May 31, 2025, include establishing new positions in France-based Veolia Environnement, a multi-utility with water treatment growth from PFAS remediation, and Emerson Electric, a pure-play industrial automation provider for water facilities; the manager also sold out of Stantec and reduced Tetra Tech due to index removals and better opportunities elsewhere, while trimming overweights in contributors like Mueller Water Products and Pentair amid solid fiscal results and cost-saving initiatives. For the fiscal year ended May 31, 2025, the fund delivered a 9.34% return, slightly trailing its benchmark, with key contributions from industrial machinery selections and U.K. water utilities benefiting from the AMP8 regulatory cycle's record £104 billion investment through March 2030, and holdings positioned for U.S. PFAS compliance extensions to 2031 and housing market recovery. The fund manages approximately $116 million in assets with a gross expense ratio of 0.93%, ranking strongly in its Morningstar natural resources category.