Fidelity Series Emerging Markets Opportunities Fund
Actively managed emerging-markets stock fund
As of its 2026 Q2 report, Fidelity Series Emerging Markets Opportunities Fund held 245 positions with $30.78B in net assets. Its ten largest holdings made up 44.7% of the fund. The FEMSX share class costs 0.01% a year. Over the 12 months to May 2026, FEMSX returned 62.5%, with dividends reinvested. In 2026 Q3 it added 28 new positions and exited 26.
Fidelity Series Emerging Markets Opportunities Fund seeks capital appreciation.
The fund invests at least 80% of assets in securities of companies 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. It emphasizes common stocks selected through fundamental analysis of financial condition, industry position, and market conditions, with allocations diversified across emerging market countries and sectors. Multiple Fidelity managers oversee different sectors to construct the portfolio.
What you own
| Company | Weight | Value | Shares | Reported price |
|---|---|---|---|---|
TAIWAN SEMICONDUCTOR MFG CO LTD | 17.92% | $5.52B | 79.2M | $69.64 |
SAMSUNG ELECTRONICS CO LTD | 7.46% | $2.30B | 15.2M | $151.55 |
SK HYNIX INC | 5.51% | $1.70B | 1.9M | $897.49 |
TENCENT HLDGS LTD | 3.82% | $1.17B | 19.3M | $60.73 |
ALIBABA GROUP HOLDING LTD | 2.58% | $794.10M | 48.2M | $16.48 |
CHINA CONSTRUCTION BANK CORP | 2.27% | $697.90M | 618.3M | $1.13 |
DELTA ELECTRONICS INC | 1.62% | $498.26M | 7.1M | $70.35 |
MEDIATEK INC | 1.26% | $389.57M | 4.7M | $83.75 |
HDFC BANK LTD | 1.21% | $371.05M | 45.4M | $8.18 |
PING AN INSURANCE (GROUP) COMPANY OF CHINA LIMITED | 1.06% | $325.25M | 40.0M | $8.13 |
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.
The 200 largest of 245 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 | 99.47% |
| Cash & short-term | 1.65% |
| Bonds | 0.15% |
| Derivatives | 0.03% |
Derivatives are shown at market value, not notional exposure.
How it has done
FEMSX share class · total returns with dividends reinvested
Volatility over the last 12 months: 20.60%. 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.
Fees & fund details
Fidelity Series Emerging Markets Opportunities 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
- 0.01%· FEMSX 0.01%
- Portfolio turnover
- 45.00% a year · as of 2025 Q4
Net is what a holder pays after the adviser's contractual waiver; gross is before it. A waiver can expire.
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.
28 new· the largest 8
26 exited· the largest 8
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.
Understand how this fund fits with the rest.
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