Fidelity U.S. Low Volatility Equity Fund

Fidelity U.S. Low Volatility Equity Fund

Fund Category US Equity

General Information Fund Code Fund Inception Underlying Inception Fund Assets ($Mil) Underlying Assets ($Mil)

352/752 July 2017 July 2017 55.07 55.08

Fund Company Underlying Fund

Fidelity Investments Canada ULC

Fidelity US Low Volatility Eq Instl Tr

Volatility Analysis

Investment

DescripLtioown

Moderate

High

Category

Investment Objective

This fund targets an annualized return higher than that of the S&P 1500 Index, expressed in Canadian dollars, over four-year moving periods.

Benchmark S&P 1500

Investment Strategy This fund, actively managed, aims to provide long-term capital appreciation while seeking to minimize overall portfolio volatility by investing primarily in U.S. equity securities. The fund's manager combines techniques of bottom-up fundamental research and quantitative analysis to identify and select securities. Quantitative modeling is also used at the portfolio level to aim to reduce the overall volatility.

Notes The benchmark was last changed on May 31, 2019.

Underlying assets reflect the Fund manager's Series O units.

Performance Analysis as of September 30, 2023 Description

25 Growth of $10,000

22

Fund

19

Underlying Fund

16

Benchmark

13

10

7

--

--

--

--

--

&

)

)

)

&

)

Quartile

2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 YTD

-- -- -- -- -- 7.7 22.8 4.4 20.3 -1.8 0.0 -- -- -- -- -- 3.6 24.3 15.9 27.4 -11.8 12.0

Calendar Year

as at September 30, 2023 Fund Return % Benchmark %

Annualized Returns % Fund Benchmark

3 Mth

1 Yr

0.6

7.9

-1.3

19.0

Underlying Fund Performance

2 Yr

3 Yr

4 Yr

5 Yr

10 Yr

4.4

6.6

6.0

7.9

--

4.4

10.8

11.7

10.5

--

Disclosure The above data represents past performance returns, which is not indicative of future results. These are gross performance returns, calculated after the fund's operating expenses, but before investment fees. For more information, please contact Desjardins Insurance's Customer Contact Centre at 1-800-968-3587.

Portfolio Analysis as of September 30, 2023

Composition

% Assets

Cash

0.3

Fixed Income

0.0

Canadian Equity 0.0

US Equity

98.7

International Equity 1.1

Other

0.0

DEqeusictryipSttiyolne

Large Mid Small

Market Cap

%

Giant

14.6

Large

35.7

Medium

29.8

Small

19.0

Micro

0.9

Value Blend Growth

Top 10 Holdings iShares MSCI USA Min Vol Factor ETF Booz Allen Hamilton Holding Corp Class A Arthur J. Gallagher & Co Eli Lilly and Co Marsh & McLennan Companies Inc

Exxon Mobil Corp Chubb Ltd Landstar System Inc Brown & Brown Inc Visa Inc Class A

Total Number of Portfolio Holdings Total Number of Underlying Holdings Total Number of Stock Holdings Total Number of Bond Holdings

% Assets 1.4 1.3 1.2 1.2 1.2

1.1 1.0 1.0 1.0 1.0

3 141 136

0

Top Five Countries United States Switzerland Canada United Kingdom

Global Equity Sectors

Utilities Energy Financials Materials Consumer Discretionary Consumer Staples Communication Services Industrials Health Care Information Technology Real Estate Unclassified

% Assets 98.9 1.1 0.0 0.0

% Equity

5.7 1.2 13.6 2.2 4.7 15.8 5.4 10.9 24.2 16.3 0.0 0.0

?2023. Morningstar Research Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Morningstar is not responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results. This fund is an investment product offered under an insurance contract issued by Desjardins Financial Security. Desjardins Insurance refers to Desjardins Financial Security Life Assurance Company.

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