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Fidelity Canadian Long/Short Alternative Fund Series B
Alternative Equity Focus
Click for more information on Fundata’s FundGrade
FundGrade C
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Click for more information on Fundata’s ESG Grade
Fundata ESG Grade D
Click for more information on Fundata’s ESG Grade.
|
NAVPS (05-13-2026) |
$14.44 |
|---|---|
| Change |
-$0.09
(-0.61%)
|
As at April 30, 2026
As at December 31, 2025
As at April 30, 2026
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Legend
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Fund Returns
Inception Return (February 01, 2024): 16.49%
| Row Heading | Return | Annualized Return | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 Mth | 3 Mth | 6 Mth | YTD | 1 Yr | 2 Yr | 3 Yr | 4 Yr | 5 Yr | 6 Yr | 7 Yr | 8 Yr | 9 Yr | 10 Yr | |
| Fund | 2.71% | 2.40% | 7.10% | 4.12% | 22.53% | 17.59% | - | - | - | - | - | - | - | - |
| Benchmark | 3.81% | 7.00% | 13.54% | 7.89% | 40.10% | 28.50% | 21.54% | 16.52% | 15.51% | 18.30% | 14.14% | 13.56% | 12.35% | 12.61% |
| Category Average | 4.87% | 4.01% | 7.33% | 6.21% | 24.82% | 15.53% | 14.45% | 10.65% | 8.69% | 11.33% | 8.63% | - | - | - |
| Category Rank | 176 / 263 | 165 / 260 | 112 / 248 | 136 / 250 | 99 / 221 | 58 / 165 | - | - | - | - | - | - | - | - |
| Quartile Ranking | 3 | 3 | 2 | 3 | 2 | 2 | - | - | - | - | - | - | - | - |
Monthly Return
| Return % | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Jan | Feb | Mar | Apr |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Fund | 4.93% | 1.94% | 2.42% | 2.76% | 2.47% | -0.82% | 1.89% | 0.96% | 1.68% | 6.22% | -6.15% | 2.71% |
| Benchmark | 5.56% | 2.91% | 1.69% | 4.96% | 5.40% | 0.97% | 3.86% | 1.32% | 0.84% | 7.72% | -4.32% | 3.81% |
Best Monthly Return Since Inception
6.22% (February 2026)
Worst Monthly Return Since Inception
-6.15% (March 2026)
Calendar Return (%)
| Return % | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Fund | - | - | - | - | - | - | - | - | - | 16.49% |
| Benchmark | 21.08% | 9.10% | -8.89% | 22.88% | 5.60% | 25.09% | -5.84% | 11.75% | 21.65% | 31.68% |
| Category Average | - | - | - | - | 5.11% | 17.27% | -5.96% | 6.54% | 16.58% | 15.40% |
| Quartile Ranking | - | - | - | - | - | - | - | - | - | 2 |
| Category Rank | - | - | - | - | - | - | - | - | - | 58/ 199 |
Best Calendar Return (Last 10 years)
16.49% (2025)
Worst Calendar Return (Last 10 years)
16.49% (2025)
Asset Allocation
| Name | Percent |
|---|---|
| Canadian Equity | 91.13 |
| Income Trust Units | 6.07 |
| International Equity | 1.89 |
| Cash and Equivalents | 0.91 |
Sector Allocation
| Name | Percent |
|---|---|
| Basic Materials | 27.48 |
| Financial Services | 27.14 |
| Technology | 9.48 |
| Utilities | 7.59 |
| Industrial Goods | 6.67 |
| Other | 21.64 |
Geographic Allocation
| Name | Percent |
|---|---|
| North America | 93.09 |
| Latin America | 5.02 |
| Europe | 1.89 |
Top Holdings
| Name | Percent |
|---|---|
| Royal Bank of Canada | 3.18 |
| Toronto-Dominion Bank | 3.05 |
| Bank of Montreal | 2.88 |
| Brookfield Asset Management Ltd Cl A | 2.86 |
| Great-West Lifeco Inc | 2.73 |
| Power Corp of Canada | 2.64 |
| Fortis Inc | 2.59 |
| Telus Corp | 2.58 |
| Brookfield Infrastructure Partners LP - Units | 2.54 |
| Brookfield Renewable Partners LP - Units | 2.48 |
Equity Style
Fixed Income Style
Risk vs Return (3 Yr)
3 Yr Annualized
| Standard Deviation | - | - | - |
|---|---|---|---|
| Beta | - | - | - |
| Alpha | - | - | - |
| Rsquared | - | - | - |
| Sharpe | - | - | - |
| Sortino | - | - | - |
| Treynor | - | - | - |
| Tax Efficiency | - | - | - |
| Volatility | - | - | - |
Risk Rating
Annualized Key Ratio Period Comparison
| Key Ratio | 1 Yr | 3 Yr | 5 Yr | 10 Yr |
|---|---|---|---|---|
| Standard Deviation | 10.58% | - | - | - |
| Beta | 0.91 | - | - | - |
| Alpha | -0.11 | - | - | - |
| Rsquared | 0.87% | - | - | - |
| Sharpe | 1.76 | - | - | - |
| Sortino | 2.78 | - | - | - |
| Treynor | 0.20 | - | - | - |
| Tax Efficiency | 100.00% | - | - | - |
Fundata ESG Metrics
Fundata ESG Score
The E, S, and G scores are averaged for each security in the portfolio, to arrive at an ESG score for each security. We take the portfolio weighted average of the ESG scores for each fund and rank them against their peers to arrive at the Fundata ESG Score from 0-100.
Fundata E Score
Three scores under the Environment bucket are averaged to yield the Fundata Environment Score for each fund from 0-100: (1) Pollution Prevention, (2) Environmental Transparency, (3) Resource Efficiency.
Fundata S Score
Six scores under the Social bucket are averaged to yield the Fundata Social Score for each fund from 0-100. (1) Compensation and Satisfaction, (2) Diversity and Rights, (3) Education and Work Conditions, (4) Community and Charity, (5) Human Rights, (6) Sustainability Integration.
Fundata G Score
Three scores under the governance bucket are averaged to yield the Fundata Governance Score for each fund from 0-100: (1) Board Effectiveness, (2) Management Ethics, (3) Disclosure and Accountability.
Powered by OWL Analytics. For more information, please contact Fundata Canada.
Fund Details
| Start Date | February 01, 2024 |
|---|---|
| Instrument Type | Mutual Fund (Alternative) |
| Share Class | Commission Based Advice |
| Legal Status | Trust |
| Sales Status | Open |
| Currency | CAD |
| Distribution Frequency | Annual |
| Assets ($mil) | - |
Fund Codes
| FundServ Code | Load Code | Sales Status |
|---|---|---|
| FID7769 |
Investment Objectives
The Fund invests primarily in long and short positions of equity securities of Canadian companies and may use leverage through the use of short selling, generally around 30% of its net asset value, but may short sell up to 50% of its net asset value. The Fund uses quantitative techniques in the construction of its portfolio.
Investment Strategy
To meet the Fund’s objectives, the portfolio management team: • Will maintain both long and short exposures to a portfolio of primarily Canadian equities which involves simultaneously investing in equities (investing long) of companies that are expected to outperform the S&P/TSX Capped Composite Index and selling equities (investing short) of companies that are expected to underperform the S&P/TSX Capped Composite Index.
Portfolio Management
| Portfolio Manager |
Fidelity Investments Canada ULC
|
|---|---|
| Sub-Advisor |
- |
Management and Organization
| Fund Manager |
Fidelity Investments Canada ULC |
|---|---|
| Custodian |
- |
| Registrar |
- |
| Distributor |
- |
Investment Minimums
| RSP Eligible | Yes |
|---|---|
| PAC Allowed | Yes |
| PAC Initial Investment | 25 |
| PAC Subsequent | 25 |
| SWP Allowed | Yes |
| SWP Min Balance | - |
| SWP Min Withdrawal | - |
Fees
| MER | 2.45% |
|---|---|
| Management Fee | 1.95% |
| Load | Back Fee Only |
| FE Max | 5.00% |
| DSC Max | - |
| Trailer Fee Max (FE) | 1.00% |
| Trailer Fee Max (DSC) | - |
| Trailer Fee Max (NL) | - |
| Trailer Fee Max (LL) | - |
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