Fund Evaluator:

Fidelity SAI Intl Low Volatil Idx Overview

Fidelity SAI Intl Low Volatil Idx (FSKLX) is a passively managed International Equity Foreign Large Blend fund. Fidelity Investments launched the fund in 2015.

The investment seeks to provide investment results that correspond to the total return of low volatility foreign stocks. The fund normally invests at least 80% of assets in equity securities included in the Fidelity International Low Volatility Focus Index℠, which reflects the performance of a broad range of equities across developed markets that in the aggregate have lower volatility relative to the broader foreign developed equity markets.

About Fidelity SAI Intl Low Volatil Idx (FSKLX)

There are 5 members of the management team with an average tenure of 9.28 years: Louis Bottari (2015), Payal Gupta (2019), Peter Matthew (2015), Navid Sohrabi (2019), Robert Regan (2016). Management tenure is more important for actively managed funds than passive index funds.

The fund has 2 primary benchmarks: MSCI ACWI Ex USA NR USD index with a weighting of 100% and Fidelity Intl Low Vol Focus USD index with a weighting of 100%. Fidelity SAI Intl Low Volatil Idx has 133 securities in its portfolio. The top 10 holdings constitute 19.2% 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 Intl Low Volatil Idx is part of the Equity global asset class and is within the International Equity fund group. Fidelity SAI Intl Low Volatil Idx has 99.5% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.5%. There is 99.5% 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 Intl Low Volatil Idx has 0.0% of the portfolio in cash.

Assets Under Management

The fund has $7 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.

FSKLX 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 Intl Low Volatil Idx expense ratio is low compared to funds in the Foreign Large Blend category. Fidelity SAI Intl Low Volatil Idx has an expense ratio of 0.16%, which is 83% 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 Intl Low Volatil Idx has a portfolio turnover rate of 39%, 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 August 2026, Fidelity SAI Intl Low Volatil Idx returned 0.8%, which earned it a grade of F, as the Foreign Large Blend category had an average return of 2.0%. 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 Intl Low Volatil Idx has a trailing yield of 2.34%, which is above the 2.13% 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 Intl Low Volatil Idx Grades

Year to date, the fund has returned 10.6%, 3.3 percentage points worse than the category, which translates into a grade of F. The fund has returned 13.6% over the past year (grade of F), 13.1% over the past three years (grade of F) and 6.0% per year over the past five years (grade of F) and 6.3% per year over the past 10 years (grade of F).

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