Fidelity Mid Cap Value Fund
FSMVX
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- Fidelity Mid Cap Value Fund (FSMVX) is an open-end mutual fund managed by Fidelity Investments that seeks long-term growth of capital by investing primarily in securities of mid-cap value companies. The fund normally invests at least 80% of its assets in equity securities of companies with medium market capitalizations, defined as those similar to companies in the Russell Midcap Index or the S&P MidCap 400 Index; it may also allocate to companies with smaller or larger market capitalizations, as well as domestic and foreign issuers. Its portfolio emphasizes value-oriented stocks across sectors including industrials (approximately 18%), financials (17%), materials (9%), consumer discretionary (9%), health care (7%), utilities (7%), energy (7%), information technology (7%), and consumer staples (6%), with 183 total holdings and no single position exceeding 2% for diversification. Launched on November 15, 2001, and headquartered in Boston, Massachusetts, as part of Fidelity Investments, the fund targets institutional and retail investors seeking mid-cap value exposure through a no-load share class with a net expense ratio of 0.83%, minimum initial investment of $1, and a portfolio turnover rate of 96%. Portfolio management transitioned to Neil Nabar and Anastasia Zabolotnikova in July 2021, marking a key leadership change that has delivered a 5-year annualized return of 16.26% and positive alpha of 0.94 relative to the S&P 500, positioning it in the top third of its Mid-Cap Value category peers despite higher volatility (3-year standard deviation of 20.63%). The fund maintains approximately $1.7 billion in assets under management, with recent performance showing a year-to-date return of around 3.91% as of late 2025 and a most recent distribution of $1.0920 per share. No major acquisitions, funding rounds, partnerships, or product launches have been reported in the last 1-2 years, with ongoing focus on active management amid market conditions.