Fidelity SAI Inflation-Focused Fund
Fidelity Oxford Street Trust · 1 share class
Fund classification
Classified from what the fund holds · as of 2026 Q2
Fidelity SAI Inflation-Focused Fund is an actively managed U.S. alternative fund.
- Asset class
- Alternative
- Region
- United States
- Management
- Actively managed
- Fund type
- Open-end fund
Fund profile
As filed in the prospectus · 2025 Q3
Fidelity SAI Inflation-Focused Fund seeks total return.
The fund normally invests in commodity-linked derivative instruments, cash, and cash equivalents, with up to 25% of assets held through a wholly-owned Cayman Islands subsidiary that invests in commodity-linked notes, total return swaps, options, forward contracts, and commodity futures. The fund may also hold inflation-protected debt securities and other investment-grade debt, and engages in leveraging transactions including swaps and futures to adjust risk exposure. Because the fund's returns depend on the performance of commodity derivatives and debt securities it selects, divergence from inflation outcomes is possible.
| Share class | Expense ratio |
|---|---|
| FIFGX | 0.39% |
Portfolio turnover 0.00% · as of 2025 Q3
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| Cash & short-term | 89.40% |
| Derivatives | 15.29% |
| Bonds | 8.99% |
These positions come to 113.68% of the fund's net assets. This counts only what the fund reported holding — the holdings disclosure covers assets, not liabilities such as borrowings — so it is not expected to reconcile to 100%.
Derivatives are shown at market value, not notional exposure.
Latest quarter
What changed since the fund's previous filing
Largest new: UST BILLS ×3, NEW YORK MERCANTILE EXCHANGE ×3, ICE-ICE FUTURES LTD ×2
Largest exited: UST BILLS ×2, ICE-ICE FUTURES LTD ×3, NEW YORK MERCANTILE EXCHANGE ×2, COMMODITY EXCHANGE INC
Return profile
Total return as filed — price change plus distributions reinvested · trailing figures to Apr 2026
Debt profile
What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-04-30
Share of the fund's debt by how its coupon behaves — the fact that decides whether a rate move reaches this portfolio at all.
| Fixed rate | 100.0% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 100.0% |
Based on what filers reported; a filer that never reported a flag also reads as none.
Risk profile
Interest-rate and credit-spread sensitivity, both in years · as of 2026Q2
Holdings
By % of NAV · equity positions carry filed share counts · every resolvable issuer links to its company page
| Ticker | Issuer | %NAV | Value | Shares |
|---|---|---|---|---|
| — | Fidelity Revere Street Trust | 89.40% | $5.64B | — |
| — | UST BILLS0.00% · due 2026-07-16 | 4.88% | $307.65M | — |
| — | ICE-ICE FUTURES LTD | 3.98% | $250.69M | — |
| — | NEW YORK MERCANTILE EXCHANGE | 2.94% | $185.53M | — |
| — | ICE-ICE FUTURES LTD | 1.96% | $123.53M | — |
| — | UST BILLS0.00% · due 2026-06-11 | 1.90% | $119.51M | — |
| — | ICE-ICE FUTURES LTD | 1.69% | $106.78M | — |
| — | UST BILLS0.00% · due 2026-06-04 | 1.42% | $89.69M | — |
| — | NEW YORK MERCANTILE EXCHANGE | 1.20% | $75.53M | — |
| — | NEW YORK MERCANTILE EXCHANGE | 1.05% | $66.00M | — |
Top 10 positions are 110.42% of net assets, top 25 114.38%, across 9 issuers.
See more of this fund's book
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