For the quarter, Fidelity Diversified International Fund returned -0.53%, topping the -1.17% result of the benchmark, the MSCI EAFE Index.
The fund's outperformance of the benchmark was helped by stock selection in the information technology sector, where out-of-benchmark investments in SK Hynix and Taiwan Semiconductor Manufacturing stood out.
Innovative chip design, increased use in autos and white goods, and more data analytics as well as AI drives structural demand in the semiconductor industry.
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Investment Approach
Fidelity ® Diversified International Fund is a broadly diversified international equity strategy that seeks capital growth by investing primarily in stocks from foreign developed markets.
