Fund Evaluator:
Fidelity Advisor Global Commodity Stk Z (FIQRX)
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Best Performing in Natural Resources Over the Last Year
| 46.3% | GMO Resources I (GEACX) |
| 43.7% | PGIM Jennison Natural Resources Z (PNRZX) |
| 42.8% | US Global Investors Global Res (PSPFX) |
| 42.5% | Nomura Natural Resources Y (IGNYX) |
| 40.8% | Fidelity Advisor Global Commodity Stk Z (FIQRX) |
Fund Details
Fidelity Advisor Global Commodity Stk Z Overview
Fidelity Advisor Global Commodity Stk Z (FIQRX) is an actively managed Sector Equity Natural Resources fund. Fidelity Investments launched the fund in 2018.
The investment seeks capital appreciation. The fund invests in securities issued throughout the world. The fund invests primarily in common stocks. The fund invests at least 80% of assets in stocks of commodities companies. Commodities companies are those principally engaged in the energy, metals, and agriculture group of industries. It is non-diversified.
About Fidelity Advisor Global Commodity Stk Z (FIQRX)
There are 1 members of the management team with an average tenure of 1.48 years: Matthew Moulis (2025). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: MSCI ACWI NR USD index with a weighting of 100% and MSCI ACWI Commodity Prd Sector NR USD index with a weighting of 100%. Fidelity Advisor Global Commodity Stk Z has 64 securities in its portfolio. The top 10 holdings constitute 49.5% of the fund’s assets. The fund meets the SEC requirement of being classified as a nondiversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
Fidelity Advisor Global Commodity Stk Z is part of the Equity global asset class and is within the Sector Equity fund group. Fidelity Advisor Global Commodity Stk Z has 50.2% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 49.2%. There is 50.2% 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). Fidelity Advisor Global Commodity Stk Z has 0.6% of the portfolio in cash.
Assets Under Management
The fund has $262 million in total assets, which is above the $233 million average for the Natural Resources 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.
FIQRX 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 Fidelity Advisor Global Commodity Stk Z expense ratio is above average compared to funds in the Natural Resources category. Fidelity Advisor Global Commodity Stk Z has an expense ratio of 0.76%, which is 34% lower than its category average, making the fund expense ratio grade a B. 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. Fidelity Advisor Global Commodity Stk Z has a portfolio turnover rate of 78%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 61% for the Natural Resources category.
Recently, in the month of July 2026, Fidelity Advisor Global Commodity Stk Z returned 6.8%, which earned it a grade of A, as the Natural Resources category had an average return of 1.9%. 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.
Fidelity Advisor Global Commodity Stk Z has a trailing yield of 2.15%, which is below the 2.18% category average. The fund normally distributes its income annually and its capital gains 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.
Fidelity Advisor Global Commodity Stk Z Grades
Year to date, the fund has returned 19.8%, 6.1 percentage points better than the category, which translates into a grade of A. The fund has returned 40.8% over the past year (grade of C), 15.2% over the past three years (grade of A) and 14.0% per year over the past five years (grade of B) and 12.4% per year over the past 10 years (grade of A).
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FIQRX 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 |
|
| FIQRX Return (NAV) | 6.8% | -3.7% | 40.8% | 15.2% | 14.0% | 12.4% |
| FIQRX Grade | A | B | C | A | B | A |
| +/- Category | 4.9% | 1.3% | 7.3% | 3.8% | 2.4% | 2.9% |
| Natural Resources Avg | 1.9% | -5.0% | 33.6% | 11.4% | 11.6% | 9.5% |
| FIQRX Tax Cost Ratio | na | na | 0.7% | 0.6% | 0.7% | na |
FIQRX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| FIQRX Return (NAV) | 19.8% | 28.8% | 3.1% | -5.0% | 20.9% | 26.3% | 6.2% | 18.0% | -13.2% | 18.4% | 30.4% |
| FIQRX Grade | A | C | B | F | B | C | D | B | A | B | C |
| +/- Category | 6.1% | 0.2% | 3.6% | -8.4% | 12.9% | -4.5% | -3.3% | 3.2% | 7.3% | 5.4% | 1.8% |
| Natural Resources Avg | 13.7% | 28.6% | -0.5% | 3.4% | 8.0% | 30.8% | 9.6% | 14.8% | -20.5% | 13.1% | 28.6% |
| Risk Measures | |
| Standard Deviation: | 15.9% |
| Total Risk Index: | 1.29 - Above Average |
| Category Risk Index: | 0.89 - Below Average |
| Category Risk Grade: | B (35% Rank) |
| Beta: | 0.39 |
| R-Squared: | 10% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Value |
| Bond Investment Style: | na |
| Yield: | 2.2% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $1428 Mil |
| Fund Total Assets: | $ 262 Mil |
| Share Class Type: | Inst |
| Portfolio Turnover: | 78% |
Management Team
| Number of Managers: 1 | |||
| Longest Tenure: 1.5 years | |||
| Average Tenure: 1.5 years | |||
| Managers (Year): Moulis Matthew (2025) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 64 |
| % in Top 10 Holdings: | 49.5% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 50.2% |
Portfolio Allocation |
|
| Domestic Stock: | 49.2% |
| Foreign Stock: | 50.2% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 0.6% |
Purchase Information
| Fund Family: | Fidelity Investments |
| Phone Number: | 877-208-0098 |
| Website: | www.institutional.fidelity.com |
| Status: | Open |
| Inception Date: | October 2, 2018 |
| 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 (%): | 0.76% ( Rating : Above Avg ) |
| Category Average Expense Ratio (%): | 1.15% |
| Share Class: | Fidelity Global Commodity Stock |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
