Fidelity Advisor Focused Emerging Markets Fund
Actively managed emerging-markets stock fund
As of its 2026 Q2 report, Fidelity Advisor Focused Emerging Markets Fund held 62 positions with $12.47B in net assets. Its ten largest holdings made up 41.8% of the fund. The FAMKX share class costs 1.17% a year. Over the 12 months to May 2026, FAMKX returned 64.6%, with dividends reinvested. In 2026 Q3 it added 4 new positions and exited 5.
Fidelity Advisor Focused Emerging Markets Fund seeks capital appreciation.
The fund invests at least 80% of assets in securities of issuers in emerging markets or economically tied to them, as identified by MSCI classifications, World Bank income levels, or the adviser's own assessment of emerging market characteristics. The adviser selects roughly 30 to 70 common stocks across different emerging markets countries using fundamental analysis of financial condition, industry position, and market conditions. Because the fund holds a focused portfolio and concentrates exposure across emerging markets, performance will depend on the adviser's security selection and the fund's allocation decisions rather than broad market returns.
What you own
| Company | Weight | Value | Shares | Reported price |
|---|---|---|---|---|
TAIWAN SEMICONDUCTOR MFG CO LTD | 10.28% | $1.28B | 18.4M | $69.64 |
SAMSUNG ELECTRONICS CO LTD | 9.15% | $1.14B | 7.5M | $151.55 |
TENCENT HLDGS LTD | 5.03% | $626.84M | 10.3M | $60.73 |
MEDIATEK INC | 4.08% | $509.18M | 6.1M | $83.75 |
DELTA ELECTRONICS INC | 2.81% | $349.70M | 5.0M | $70.35 |
LARSEN and TOUBRO LTD | 2.15% | $268.60M | 6.3M | $42.48 |
Fidelity Revere Street Trust | 2.15% | $267.59M | — | — |
CHINA CONSTRUCTION BANK CORP | 2.06% | $257.52M | 228.1M | $1.13 |
AMXAMERICA MOVIL SAB DE CV | 2.06% | $256.60M | 9.6M | $26.60 |
YAGEO CORP | 2.02% | $251.32M | 24.6M | $10.23 |
Reported price is the fund's own reported value divided by its own reported shares at 2026-04-30 — not a live quote, and not what the fund paid.
All 62 holdings, with the share counts as filed, open with a free account.
What the fund is made of
Percentages are of fund net assets. Rounding, liabilities and short positions can make totals differ from 100%.
| Stocks | 97.69% |
| Cash & short-term | 2.43% |
How it has done
FAMKX share class · total returns with dividends reinvested
Volatility over the last 12 months: 20.28%. Past returns are a record, not a forecast.
Jun 2026 and Jul 2026 have been filed since the trailing figures were struck, so they are not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
The 5 share classes hold the same portfolio
| Share class | Expense ratio | 1 year | 3 years | 5 years | Worst fall |
|---|---|---|---|---|---|
| 1.17% | +64.58% | +112.24% | +52.20% | -13.32% | |
| 1.92% | +63.29% | +108.48% | +47.72% | -13.48% | |
| 1.42% | +64.18% | +110.72% | +50.36% | -13.37% | |
| 0.91% | +64.96% | +113.85% | +54.28% | -13.24% | |
| 0.80% | +65.15% | +114.72% | +55.34% | -13.20% |
These classes hold the same portfolio, so the 7.62pp spread over 5 years is the cost difference between them — roughly 1.52pp a year — not a difference in what they own.
Fees & fund details
Fidelity Advisor Focused Emerging Markets Fund is an actively managed emerging-markets equity fund.
- Asset class
- Equity
- Region
- Emerging markets
- Management
- Actively managed
- Fund type
- Open-end fund
- Expense ratio, by class
- 0.80% – 1.92%· FAMKX 1.17%
- Portfolio turnover
- 58.00% a year · as of 2025 Q4
Turnover is how much of the portfolio was replaced in a year.
Classified from what the fund holds, not from its name · 2026 Q2. The summary is a paraphrase of the prospectus; the objective is verbatim.
What changed this quarter
Positions that entered or left the fund since its previous filing. Positions that were only resized are not listed.
4 new
5 exited
Understand how this fund fits with the rest.
Explore shared holdings, compare funds and follow their businesses with your connected AI:
- “Where do my funds overlap — FAMKX, QQQ and the fund in my 401(k)?”
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