Strategic Advisers Fidelity Emerging Markets Fund
Fidelity Rutland Square Trust II · Series S000063170 · 1 share classes
data updated 2026-09-08
Fund profile
As filed in the prospectus · 2025 Q3
Strategic Advisers Fidelity Emerging Markets Fund seeks capital appreciation.
The fund allocates assets among sub-advisers and underlying funds—including affiliated and non-affiliated emerging markets equity funds and ETFs—to gain diversified exposure across emerging markets countries, market capitalizations, and investment styles. Day-to-day security selection is delegated to one or more sub-advisers or conducted through the underlying funds themselves. Because the fund invests indirectly through other funds rather than holding securities directly, its returns depend on the performance and holdings of those underlying funds.
| Share class | Gross | Net |
|---|---|---|
| FGOMX | 0.57% | 0.32% |
Net is what a holder pays after the adviser's contractual waiver; gross is before it. A waiver can expire.
Portfolio turnover 53.00% · as of 2025 Q3
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| Stocks | 97.72% |
| Cash & short-term | 2.32% |
| Derivatives | 0.44% |
| Bonds | 0.20% |
Look-through blends 5 underlying funds; 3.556% 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, SAMSUNG ELECTRONICS CO LTD, ALUMINUM CORP CHINA LTD, YPF SA, NINGBO DEYE TECHNOLOGY CORP, UNIMICRON TECHNOLOGY CORP, VICTORY GIANT TECHNOLOGY HUIZHOU CO LTD, TENARIS SA
Largest exited: ICE FUTURES US, BANCO DO BRASIL SA, FUTU HOLDINGS LTD, GALAXY ENTERTAINMENT GROUP LTD, HDFC BANK LTD, UST BILLS, LUXSHARE PRECISION INDUSTRY CO LTD, HERMES INTL SCA
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 | 23.37% | $22.09 | $9.81B | 444.0M |
| — | TAIWAN SEMICONDUCTOR MFG CO LTD | 9.13% | $73.88 | $3.83B | 51.9M |
| FGKPX | Fidelity Salem Street TrustFGKPX | 5.37% | $13.33 | $2.25B | 169.0M |
| FERGX | Fidelity Salem Street TrustFERGX | 5.18% | $22.05 | $2.18B | 98.7M |
| — | SAMSUNG ELECTRONICS CO LTD | 4.98% | $210.09 | $2.09B | 9.9M |
| — | SHORT TERM INVTS TR | 3.56% | $1.00 | $1.49B | 1.5B |
| — | SK HYNIX INC | 3.37% | $1,546.21 | $1.42B | 915.4K |
| — | TENCENT HLDGS LTD | 1.87% | $54.33 | $783.99M | 14.4M |
| — | Fidelity Revere Street Trust | 1.41% | — | $592.03M | — |
| — | MEDIATEK INC | 1.33% | $137.20 | $557.72M | 4.1M |
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 59.56% of net assets, top 25 70.56%, across 288 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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