Fund Evaluator:
Strategic Advisers International (FILFX)
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Best Performing in Foreign Large Blend Over the Last Year
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Fund Details
Strategic Advisers International Overview
Strategic Advisers International (FILFX) is an actively managed International Equity Foreign Large Blend fund. Fidelity Investments launched the fund in 2006.
The investment seeks capital appreciation. The fund invests primarily in non-U.S. securities, including securities of issuers located in emerging markets. It invests primarily in common stocks. The fund invests directly in securities through one or more managers (sub-advisers) or indirectly in securities through one or more other funds, referred to as underlying funds, which in turn invest directly in securities. The manager allocates assets among underlying Fidelity® international funds (including mutual funds and ETFs (collectively, underlying funds)) and sub-advisers.
About Strategic Advisers International (FILFX)
There are 1 members of the management team with an average tenure of 20.37 years: Wilfred Chilangwa (2006). Management tenure is more important for actively managed funds than passive index funds.
The fund has 1 primary benchmark: MSCI EAFE NR USD index with a weighting of 100%. Strategic Advisers International has 984 securities in its portfolio. The top 10 holdings constitute 36.0% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
Strategic Advisers International is part of the Equity global asset class and is within the International Equity fund group. Strategic Advisers International has 94.3% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 2.8%. There is 94.3% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Strategic Advisers International has 2.6% of the portfolio in cash.
Assets Under Management
The fund has $28 billion in total assets, which is above the $2 billion average for the Foreign Large Blend category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
FILFX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Strategic Advisers International expense ratio is average compared to funds in the Foreign Large Blend category. Strategic Advisers International has an expense ratio of 0.41%, which is 56% lower than its category average, making the fund expense ratio grade a A. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Strategic Advisers International has a portfolio turnover rate of 45%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 62% for the Foreign Large Blend category.
Recently, in the month of July 2026, Strategic Advisers International returned 1.2%, which earned it a grade of C, as the Foreign Large Blend category had an average return of 0.7%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
Strategic Advisers International has a trailing yield of 2.53%, which is above the 2.17% category average. The fund normally distributes its income semi-annually and its capital gains semi-annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Strategic Advisers International Grades
Year to date, the fund has returned 12.2%, 0.6 percentage points better than the category, which translates into a grade of C. The fund has returned 24.8% over the past year (grade of C), 16.3% over the past three years (grade of C) and 8.7% per year over the past five years (grade of C) and 9.8% per year over the past 10 years (grade of B).
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FILFX Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| FILFX Return (NAV) | 1.2% | 5.1% | 24.8% | 16.3% | 8.7% | 9.8% |
| FILFX Grade | C | B | C | C | C | B |
| +/- Category | 0.5% | 0.7% | 0.6% | 0.5% | 0.3% | 0.7% |
| Foreign Large Blend Avg | 0.7% | 4.4% | 24.2% | 15.9% | 8.4% | 9.1% |
| FILFX Tax Cost Ratio | na | na | 2.4% | 1.4% | 1.4% | 1.2% |
FILFX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| FILFX Return (NAV) | 12.2% | 30.5% | 4.8% | 18.2% | -17.5% | 10.8% | 14.9% | 24.1% | -15.1% | 26.2% | 0.4% |
| FILFX Grade | C | C | C | B | D | C | B | B | C | C | D |
| +/- Category | 0.6% | -0.0% | -0.1% | 2.0% | -1.1% | 0.7% | 3.1% | 1.1% | 0.1% | -0.2% | -0.6% |
| Foreign Large Blend Avg | 11.6% | 30.5% | 4.9% | 16.2% | -16.4% | 10.2% | 11.8% | 22.9% | -15.2% | 26.4% | 1.0% |
| Risk Measures | |
| Standard Deviation: | 12.4% |
| Total Risk Index: | 1.01 - Average |
| Category Risk Index: | 0.96 - Below Average |
| Category Risk Grade: | B (24% Rank) |
| Beta: | 0.86 |
| R-Squared: | 91% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Blend |
| Bond Investment Style: | na |
| Yield: | 2.5% |
| Dividend Distribution: | Semi-Annually |
| Cap Gains Distribution: | Semi-Annually |
| Total Assets: | $28990 Mil |
| Fund Total Assets: | $28,990 Mil |
| Share Class Type: | Other |
| Portfolio Turnover: | 45% |
Management Team
| Number of Managers: 1 | |||
| Longest Tenure: 20.4 years | |||
| Average Tenure: 20.4 years | |||
| Managers (Year): Chilangwa Wilfred (2006) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 984 |
| % in Top 10 Holdings: | 36.0% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 94.3% |
Portfolio Allocation |
|
| Domestic Stock: | 2.8% |
| Foreign Stock: | 94.3% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.3% |
| Cash: | 2.6% |
Purchase Information
| Fund Family: | Fidelity Investments |
| Phone Number: | 800-544-3455 |
| Website: | www.institutional.fidelity.com |
| Status: | Open |
| Inception Date: | March 23, 2006 |
| Min. Initial Purchase: | $ 0 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | na |
Expenses and Fees | |
| Expense Ratio (%): | 0.41% ( Rating : Avg ) |
| Category Average Expense Ratio (%): | 0.94% |
| Share Class: | Strategic Advisers International |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
