Fund Evaluator:

Fidelity Emerging Asia Overview

Fidelity Emerging Asia (FSEAX) is an actively managed International Equity Pacific/Asia ex-Japan Stk fund. Fidelity Investments launched the fund in 1993.

The investment seeks capital appreciation. The fund normally invests at least 80% of assets in securities of Asian emerging markets issuers and other investments that are tied economically to Asian emerging markets. It normally invests primarily in common stocks. The fund allocates investments across different Asian countries with emerging markets. It uses fundamental analysis of factors such as each issuer's financial condition and industry position, as well as market and economic conditions, to select investments.

About Fidelity Emerging Asia (FSEAX)

There are 1 members of the management team with an average tenure of 0.72 years: Di Chen (2025). Management tenure is more important for actively managed funds than passive index funds.

The fund has 1 primary benchmark: MSCI AC Asia Ex Japan NR USD index with a weighting of 100%. Fidelity Emerging Asia has 71 securities in its portfolio. The top 10 holdings constitute 46.3% 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 Emerging Asia is part of the Equity global asset class and is within the International Equity fund group. Fidelity Emerging Asia has 95.9% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0%. There is 95.9% 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 Emerging Asia has 3.4% of the portfolio in cash.

Assets Under Management

The fund has $2 billion in total assets, which is above the $317 million average for the Pacific/Asia ex-Japan Stk 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.

FSEAX 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 Emerging Asia expense ratio is high compared to funds in the Pacific/Asia ex-Japan Stk category. Fidelity Emerging Asia has an expense ratio of 1.03%, which is 15% 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 Emerging Asia has a portfolio turnover rate of 107%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 79% for the Pacific/Asia ex-Japan Stk category.

Recently, in the month of June 2026, Fidelity Emerging Asia returned 3.2%, which earned it a grade of A, as the Pacific/Asia ex-Japan Stk 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.

Fidelity Emerging Asia has a trailing yield of 0.16%, which is below the 0.80% 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 Emerging Asia Grades

Year to date, the fund has returned 38.7%, 9.6 percentage points better than the category, which translates into a grade of B. The fund has returned 63.0% over the past year (grade of B), 34.5% over the past three years (grade of A) and 7.8% per year over the past five years (grade of A) and 16.0% per year over the past 10 years (grade of A).

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