Fund Evaluator:
Fidelity SAI Canada Equity Index (FSCJX)
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Best Performing in Focused Region Over the Last Year
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Fund Details
Fidelity SAI Canada Equity Index Overview
Fidelity SAI Canada Equity Index (FSCJX) is a passively managed International Equity Focused Region fund. Fidelity Investments launched the fund in 2024.
The investment seeks to provide investment results that correspond to the total return of Canadian stocks. The fund will normally invest at least 80% of assets in securities included in the MSCI Canada Index and in depositary receipts representing securities included in the index. The MSCI Canada Index is a free float-adjusted market capitalization weighted index designed to measure the performance of the large and mid-cap segments of the Canada market.
About Fidelity SAI Canada Equity Index (FSCJX)
There are 5 members of the management team with an average tenure of 2.14 years: Louis Bottari (2024), Payal Gupta (2024), Peter Matthew (2024), Navid Sohrabi (2024), Robert Regan (2024). Management tenure is more important for actively managed funds than passive index funds.
The fund has 1 primary benchmark: MSCI Canada NR USD index with a weighting of 100%. Fidelity SAI Canada Equity Index has 88 securities in its portfolio. The top 10 holdings constitute 44.3% 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.
Fidelity SAI Canada Equity Index is part of the Equity global asset class and is within the International Equity fund group. Fidelity SAI Canada Equity Index has 98.9% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 1.2%. There is 98.9% 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 SAI Canada Equity Index has 0.0% of the portfolio in cash.
Assets Under Management
The fund has $16 billion in total assets, which is above the $1 billion average for the Focused Region 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.
FSCJX 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 SAI Canada Equity Index expense ratio is low compared to funds in the Focused Region category. Fidelity SAI Canada Equity Index has an expense ratio of 0.12%, which is 89% 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. Fidelity SAI Canada Equity Index has a portfolio turnover rate of 5%, indicating that holds its assets around 0.2 years. By way of comparison, the average portfolio turnover is 37% for the Focused Region category.
Recently, in the month of August 2026, Fidelity SAI Canada Equity Index returned 3.6%, which earned it a grade of C, as the Focused Region category had an average return of 3.2%. 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 SAI Canada Equity Index has a trailing yield of 1.16%, which is below the 2.28% 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 SAI Canada Equity Index Grades
Year to date, the fund has returned 14.7%, 2.3 percentage points worse than the category, which translates into a grade of C. The fund has returned 28.0% over the past year (grade of C).
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FSCJX Trailing NAV Total Returns Data as of 8/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| FSCJX Return (NAV) | 3.6% | 4.7% | 28.0% | na | na | na |
| FSCJX Grade | C | B | C | na | na | na |
| +/- Category | 0.4% | 4.2% | -0.2% | na | na | na |
| Focused Region Avg | 3.2% | 0.6% | 28.2% | 19.8% | 7.5% | 8.9% |
| FSCJX Tax Cost Ratio | na | na | 0.3% | na | na | na |
FSCJX Annual NAV Total ReturnsData as of 8/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| FSCJX Return (NAV) | 14.7% | 36.4% | na | na | na | na | na | na | na | na | na |
| FSCJX Grade | C | B | na | na | na | na | na | na | na | na | na |
| +/- Category | -2.3% | 0.8% | na | na | na | na | na | na | na | na | na |
| Focused Region Avg | 17.0% | 35.6% | 2.5% | 17.3% | -16.4% | 11.2% | 9.4% | 23.7% | -11.8% | 26.2% | 14.0% |
| Risk Measures | |
| Standard Deviation: | na |
| Total Risk Index: | na |
| Category Risk Index: | na |
| Category Risk Grade: | |
| Beta: | na |
| R-Squared: | na |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Blend |
| Bond Investment Style: | na |
| Yield: | 1.2% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $16904 Mil |
| Fund Total Assets: | $16,904 Mil |
| Share Class Type: | Other |
| Portfolio Turnover: | 5% |
Management Team
| Number of Managers: 5 | |||
| Longest Tenure: 2.1 years | |||
| Average Tenure: 2.1 years | |||
| Managers (Year): Bottari Louis (2024), Gupta Payal (2024), Matthew Peter (2024), Sohrabi Navid (2024), Regan Robert (2024) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 88 |
| % in Top 10 Holdings: | 44.3% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 98.9% |
Portfolio Allocation |
|
| Domestic Stock: | 1.2% |
| Foreign Stock: | 98.9% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 0.0% |
Purchase Information
| Fund Family: | Fidelity Investments |
| Phone Number: | 800-544-3455 |
| Website: | www.institutional.fidelity.com |
| Status: | Open |
| Inception Date: | July 11, 2024 |
| 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 (%): | 0.12% ( Rating : Low ) |
| Category Average Expense Ratio (%): | 1.09% |
| Share Class: | Fidelity SAI Canada Equity Index |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
