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About Fidelity Market Neutral Alternative Fund
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Inception date
Feb 1, 2024
Structure
Canadian Mutual Fund Trust (ON)
Dividend treatment
Distributes
Primary advisor
Fidelity Investments Canada ULC
ISIN
CA31623B7016
The fund is a long/short equity portfolio of Canadian and US equities selected using a bottom-up fundamental approach. It invests long in growth-oriented equities, while shorting companies with decelerating growth rates or fierce competitions. In seeking to capture relative value premiums, the fund engages in pair trading. The fund may use leverage. It typically has 100% exposure in both the long and short baskets, targeting a 0% net equity exposure. The fund may invest in all types of equities of any size and could allocate up to 10% in equities outside North America. It could also invest in fixed income securities of any quality or term and hold cash or cash equivalents. It utilizes derivatives and may invest in precious metals and other commodities. It may borrow cash and could engage in securities lending, repurchase, and reverse repurchase transactions.
Classification
Returns
| 1 month | 3 months | Year to date | 1 year | 3 years | 5 years | |
|---|---|---|---|---|---|---|
| Price performance | — | — | — | — | — | — |
| NAV total return | — | — | — | — | — | — |
Dividends
Dividend payout history
Assets under management (AUM)
Fund Flows
Frequently Asked Questions
FMNA assets under management is 4.00 M CAD. It's risen 0.87% over the last month.
FMNA fund flows account for 2.92 M CAD (1 year). Many traders use this metric to get insight into investors' sentiment and evaluate whether it's time to buy or sell the fund.
No, FMNA doesn't pay dividends to its holders.
FMNA shares are issued by FMR LLC under the brand Fidelity. The ETF was launched on Feb 1, 2024, and its management style is Active.
FMNA follows the No Underlying Index. ETFs usually track some benchmark seeking to replicate its performance and guide asset selection and objectives.
FMNA price has fallen by −1.78% over the last month, and its yearly performance shows a −3.50% decrease. See more dynamics on FMNA price chart.
NAV returns, another gauge of an ETF dynamics, showed a −3.07% decrease in three-month performance and has decreased by −3.32% in a year.
NAV returns, another gauge of an ETF dynamics, showed a −3.07% decrease in three-month performance and has decreased by −3.32% in a year.
FMNA trades at a premium (0.09%) meaning the ETF is trading at a higher price than the calculated NAV.