Strategic Advisers U.S. Total Stock Fund
Fidelity Rutland Square Trust II · Series S000084926 · 1 share classes
data updated 2026-09-08
Fund profile
As filed in the prospectus · 2025 Q3
Strategic Advisers U.S. Total Stock Fund seeks capital appreciation.
The fund allocates assets among sub-advisers and underlying funds—including affiliated and non-affiliated equity funds and ETFs—to gain exposure to U.S. stocks across market capitalizations and investment styles, with day-to-day management delegated to those sub-advisers and underlying funds rather than executed directly by the adviser. The fund invests indirectly through other funds as well as directly in securities, selecting among managers and funds using proprietary research on performance, experience, costs, and other factors. Because the fund's holdings depend on the selections made by its sub-advisers and the underlying funds it holds, its composition and returns will reflect those choices.
| Share class | Gross | Net |
|---|---|---|
| FSAKX | 0.46% | 0.21% |
Net is what a holder pays after the adviser's contractual waiver; gross is before it. A waiver can expire.
Portfolio turnover 74.00% · as of 2025 Q3
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| Stocks | 98.52% |
| Cash & short-term | 1.37% |
| Securitized | 1.12% |
| Bonds | 0.51% |
| Derivatives | 0.10% |
Look-through blends 11 underlying funds; 7.626% of NAV was not looked through and stays direct-classified.
Latest quarter
What changed since the fund's previous filing
Largest new: UNITED STATES TREASURY, FNMA/FHLG TBA ISSUER ×6, CHICAGO MERCANTILE EXCH INC
Largest exited: UNITED STATES TREASURY, FNMA/FHLG TBA ISSUER ×7
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 | 81.7% |
| Floating rate | 18.3% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 13.2% |
| 1-3y | 1.4% |
| 3-5y | 1.9% |
| 5-10y | 10.2% |
| 10y+ | 73.4% |
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 |
|---|---|---|---|---|---|
| — | Fidelity Mt. Vernon Street Trust | 5.49% | $58.71 | $5.43B | 92.5M |
| NVDA | NVIDIA CORPNVDA | 5.29% | $211.14 | $5.24B | 24.8M |
| AAPL | APPLE INCAAPL | 4.12% | $312.06 | $4.08B | 13.1M |
| MSFT | MICROSOFT CORPMSFT | 3.46% | $450.24 | $3.43B | 7.6M |
| FUQIX | Fidelity Salem Street TrustFUQIX | 3.32% | $25.45 | $3.29B | 129.2M |
| AMZN | AMAZON.COM INCAMZN | 3.15% | $270.64 | $3.12B | 11.5M |
| AVGO | BROADCOM INCAVGO | 2.27% | $446.77 | $2.25B | 5.0M |
| GOOG | ALPHABET INCGOOG | 2.18% | $376.43 | $2.15B | 5.7M |
| — | ISHARES TR | 2.04% | $760.05 | $2.01B | 2.6M |
| GOOGL | ALPHABET INCGOOGL | 2.03% | $380.34 | $2.01B | 5.3M |
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 33.35% of net assets, top 25 49.80%, across 2.2K 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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