Fidelity Emerging Markets Fund
Actively managed emerging-markets stock fund
As of its 2026 Q2 report, Fidelity Emerging Markets Fund held 94 positions with $10.76B in net assets. Its ten largest holdings made up 50.6% of the fund. The FEMKX share class costs 0.86% a year. Over the 12 months to May 2026, FEMKX returned 53.4%, with dividends reinvested. In 2026 Q3 it added 6 new positions and exited 6.
Fidelity Emerging Markets Fund seeks capital appreciation.
The fund invests at least 80% of assets in common stocks of companies in emerging markets or economically tied to them, selected through fundamental analysis of financial condition, industry position, and market conditions across different emerging market countries. Because security selection depends on the manager's analysis rather than an index, fund holdings and performance may diverge from any particular emerging market benchmark.
What you own
| Company | Weight | Value | Shares | Reported price |
|---|---|---|---|---|
TAIWAN SEMICONDUCTOR MFG CO LTD | 19.98% | $2.15B | 30.9M | $69.64 |
SAMSUNG ELECTRONICS CO LTD | 6.55% | $704.67M | 4.6M | $151.55 |
SK HYNIX INC | 6.35% | $683.48M | 761.5K | $897.49 |
TENCENT HLDGS LTD | 5.29% | $568.91M | 9.4M | $60.73 |
BABAALIBABA GROUP HOLDING LTD | 2.89% | $311.26M | 2.4M | $131.88 |
NVDANVIDIA CORP | 2.83% | $304.52M | 1.5M | $199.57 |
CONTEMPORARY AMPEREX TECHNOLOGY CO LTD | 2.13% | $228.84M | 3.6M | $64.24 |
SIEYUAN ELECTRIC CO LTD A | 1.75% | $187.76M | 6.6M | $28.66 |
GAZTRANSPORT ET TECHNIGAZ SA | 1.51% | $162.01M | 666.8K | $242.95 |
SK SQUARE CO LTD | 1.37% | $147.00M | 251.0K | $585.74 |
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 94 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 | 99.19% |
| Cash & short-term | 1.63% |
How it has done
FEMKX share class · total returns with dividends reinvested
Volatility over the last 12 months: 20.21%. 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 7 share classes hold the same portfolio
| Share class | Expense ratio | 1 year | 3 years | 5 years | Worst fall |
|---|---|---|---|---|---|
| 0.86% | +53.36% | +87.15% | +38.50% | -12.46% | |
| 0.74% | +53.51% | +87.84% | +39.28% | -12.43% | |
| 1.39% | +52.56% | +84.16% | — | -12.58% | |
| 0.73% | +53.54% | +87.82% | +39.30% | -12.44% | |
| 1.14% | +52.94% | +85.59% | — | -12.52% | |
| 1.89% | +51.78% | +82.13% | — | -12.71% | |
| 0.87% | +53.28% | +87.00% | +38.29% | -12.47% |
These classes hold the same portfolio, so the 5.71pp spread over 3 years is the cost difference between them — roughly 1.90pp a year — not a difference in what they own.
Fees & fund details
Fidelity 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
- 0.73% – 1.89%· FEMKX 0.86%
- Portfolio turnover
- 31.00% 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.
6 new· the largest 4
6 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 — FEMKX, QQQ and the fund in my 401(k)?”
- “How do this fund’s ten biggest holdings stack up against each other?”
- “For my target-date fund, what’s the real stock-and-bond mix once you look through it?”