Strategic Advisers Emerging Markets Fund
Fidelity Rutland Square Trust II · Series S000030092 · 1 share classes
data updated 2026-09-08
Fund profile
As filed in the prospectus · 2026 Q2
Strategic Advisers Emerging Markets Fund seeks capital appreciation.
The fund allocates assets among sub-advisers and underlying funds to gain exposure to emerging markets equities, defined by MSCI classification, World Bank income levels, or characteristics identified by the adviser. It may invest directly in securities through sub-advisers or indirectly through other funds that hold the securities themselves. Because the fund invests through underlying funds as well as direct holdings, its composition and performance depend on the selection and performance of those underlying funds.
| Share class | Gross | Net |
|---|---|---|
| FSAMX | 0.68% | 0.43% |
Net is what a holder pays after the adviser's contractual waiver; gross is before it. A waiver can expire.
Portfolio turnover 48.00% · as of 2026 Q2
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| Stocks | 94.95% |
| Cash & short-term | 2.73% |
| Securitized | 1.75% |
| Bonds | 1.68% |
| 2 smaller | 0.54% |
Look-through blends 11 underlying funds; 2.989% of NAV was not looked through and stays direct-classified.
Latest quarter
What changed since the fund's previous filing
Largest new: ICE FUTURES US, ALUMINUM CORP CHINA LTD, YPF SA, NINGBO DEYE TECHNOLOGY CORP, ZHONGJI INNOLIGHT CO LTD, TENARIS SA, VICTORY GIANT TECHNOLOGY HUIZHOU CO LTD, HD HYUNDAI HEAVY INDUSTRIES CO LTD
Largest exited: ICE FUTURES US, HDFC BANK LTD, BANK RAKYAT INDONESIA TBK PT, AKBANK TAS, AYALA LAND INC, SUZANO SA, LUXSHARE PRECISION INDUSTRY CO LTD, SUNGROW POWER SUPPLY CO LTD
Return profile
Total return as filed — price change plus distributions reinvested · trailing figures to Apr 2026
May 2026 has been filed since the trailing figures were struck, so it is not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
Debt profile
What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-05-31
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.
Holdings
By % of NAV · equity positions carry filed share counts · every resolvable issuer links to its company page
| Ticker | Issuer | %NAV | Reported price | Value | Shares |
|---|---|---|---|---|---|
| FEMVX | Fidelity Salem Street TrustFEMVX | 14.05% | $22.09 | $2.39B | 108.3M |
| — | TAIWAN SEMICONDUCTOR MFG CO LTD | 10.05% | $73.88 | $1.71B | 23.2M |
| — | SAMSUNG ELECTRONICS CO LTD | 6.16% | $210.09 | $1.05B | 5.0M |
| FGKPX | Fidelity Salem Street TrustFGKPX | 5.21% | $13.33 | $886.53M | 66.5M |
| — | SK HYNIX INC | 4.22% | $1,546.21 | $718.45M | 464.7K |
| — | GOLDMAN SACHS TECHNOLOGY OPPORTUNITIES FUND | 3.57% | $39.17 | $608.74M | 15.5M |
| GVMXX | STATE STR INVT TRGVMXX | 2.99% | $1.00 | $509.10M | 509.1M |
| — | TENCENT HLDGS LTD | 2.15% | $54.33 | $365.78M | 6.7M |
| — | MEDIATEK INC | 1.43% | $137.20 | $243.10M | 1.8M |
| — | DELTA ELECTRONICS INC | 1.26% | $77.83 | $214.56M | 2.8M |
Reported price is the fund's own reported value divided by its own reported shares at 2026-05-31 — not a live quote, and not what the fund paid.
Top 10 positions are 51.08% of net assets, top 25 62.73%, across 918 issuers.
See more of this fund's book
More positions with filed share counts, and the quarter-over-quarter change list rather than the largest few — free with an account, no card required.
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