Fund Evaluator:

Fidelity Series Small Cap Opps Overview

Fidelity Series Small Cap Opps (FSOPX) is an actively managed U.S. Equity Small Blend fund. Fidelity Investments launched the fund in 2007.

The investment seeks capital appreciation. The fund normally invests primarily in common stocks. It normally invests at least 80% of assets in securities of companies with small market capitalizations.

About Fidelity Series Small Cap Opps (FSOPX)

There are 4 members of the management team with an average tenure of 13.17 years: Patrick Venanzi (2009), Shadman Riaz (2009), Eirene Kontopoulos (2012), Jennifer Fo Cardillo (2021). Management tenure is more important for actively managed funds than passive index funds.

The fund has 2 primary benchmarks: Russell 3000 TR USD index with a weighting of 100% and Russell 2000 TR USD index with a weighting of 100%. Fidelity Series Small Cap Opps has 231 securities in its portfolio. The top 10 holdings constitute 15.8% 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 Series Small Cap Opps is part of the Equity global asset class and is within the U.S. Equity fund group. Fidelity Series Small Cap Opps has 6.9% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 92.1%. There is 6.9% 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 Series Small Cap Opps has 1.0% of the portfolio in cash.

Assets Under Management

The fund has $4 billion in total assets, which is above the $685 million average for the Small 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.

FSOPX 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 Series Small Cap Opps expense ratio is low compared to funds in the Small Blend category. Fidelity Series Small Cap Opps has an expense ratio of 0.00%, which is 100% 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 Series Small Cap Opps has a portfolio turnover rate of 43%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 66% for the Small Blend category.

Recently, in the month of July 2026, Fidelity Series Small Cap Opps returned -2.7%, which earned it a grade of C, as the Small Blend category had an average return of -2.8%. 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 Series Small Cap Opps has a trailing yield of 0.85%, which is above the 0.42% category average. The fund normally distributes its income none.

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 Series Small Cap Opps Grades

Year to date, the fund has returned 21.2%, 3.1 percentage points better than the category, which translates into a grade of B. The fund has returned 37.7% over the past year (grade of A), 19.0% over the past three years (grade of A) and 11.9% per year over the past five years (grade of A) and 13.0% per year over the past 10 years (grade of A).

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