Important legal information

Terms of use

Read before continuing – Your acceptance of terms of use

Fidelity Investments is pleased to provide you with the products, services, content, tools and information on all Fidelity sites (the term “Fidelity site” refers to all Fidelity websites, as well as to the content on them). The Fidelity sites are intended only for your personal, non-commercial use, unless you and Fidelity have agreed otherwise in writing. Your use of the Fidelity site is subject to the following terms of use (“terms”).

These terms are a binding contract between you and Fidelity Investments. By using or accessing the Fidelity sites, you accept and agree to be bound by these terms. Your use of the Fidelity sites is governed by the version of the terms in effect on the date each Fidelity site is accessed by you. Fidelity may modify these terms at any time without prior notice. You should review the most current version of this document by visiting privatewealth.fidelity.ca and clicking on the legal hyperlink located at the bottom of each page. These terms are in addition to any other agreements between you and Fidelity Investments, including any customer or account agreements, and any other agreements that govern your use of products, services, content, tools and information available on the Fidelity sites. Fidelity may terminate your access to the Fidelity sites for any reason, without prior notice.

About Fidelity

Fidelity Investments Canada ULC (“Fidelity”) was established in Canada in 1987. Fidelity is part of a group of companies collectively known as Fidelity Investments. Fidelity offers Canadian investors a full range of domestic and international mutual funds or pools through a number of advice-based channels, including financial planners, investment dealers, banks and insurance companies.

Fidelity Private Wealth, part of Fidelity, is Fidelity’s total wealth solution for high-net worth individuals, where clients have access to a dedicated relationship manager, financial plans focused on goals-based investing, and portfolios based on client goals and risk tolerance.

Mutual funds or pools

Fidelity Funds, Fidelity Capital Structure Corp. mutual funds and Fidelity Private Investment Pools are managed by Fidelity and are available through independent dealers. Certain Fidelity Funds may also be offered as part of Fidelity Private Wealth’s portfolios.

Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus, which contains detailed investment information, before investing. The indicated rates of return (other than for each money market fund) are historical annual compounded total returns for the period indicated including changes in unit value and reinvestment distributions. The indicated rate of return for each money market fund is an annualized historical yield based on the seven-day period ended as indicated and annualized in the case of effective yield by compounding the seven-day return and does not represent an actual one-year return. The indicated rates of return do not take into account sales, redemption, distribution or option charges or income taxes payable by any unitholder that would have reduced returns. Mutual funds are not covered by the Canada Deposit Insurance Corporation or by any other government deposit insurer and are not guaranteed or insured. Their values change frequently. There can be no assurances that any money market fund will be able to maintain its net asset value per unit at a constant amount or that the full amount of your investment will be returned to you. Past performance may not be repeated.

As with any investment, there are risks to investing in mutual funds or pools. There is no assurance that any mutual fund or pool will achieve its investment objective, and its net asset value, yield and investment return will fluctuate from time to time.

Compound growth calculations are used only for the purpose of illustrating the effects of compound growth and are not intended to reflect future values of any mutual fund or returns on investment in any mutual fund.

A return of capital reduces an investor’s adjusted cost base. Capital gains taxes are deferred until units are sold or until their ACB goes below zero. Investors should not confuse this cash-flow distribution with a fund’s rate of return or yield. While investors in Fidelity’s tax-efficient series (T-SWP®) will be able to defer some personal capital gains, they must still pay tax on capital gains distributions. T-SWP will also pay a year-end distribution that must be reinvested in additional securities of the applicable fund.

The monthly cash-flow distributions on T-SWP are not guaranteed will be adjusted from time to time and may include income.

Currency Neutral Funds (Pools) use derivatives to mitigate the Fund’s exposure to changes in exchange rates between developed market currencies (or U.S. currency) and the Canadian dollar. The investment approach used by the Funds (Pools), while effective in reducing exchange rate risk, will not completely eliminate the impact of currency fluctuations. The funds’ (Pools’) returns will differ from the local currency returns of its underlying funds.

The performance of an index fund is expected to be lower than the index it seeks to track.

Standard deviation is a statistical measure of the range of a fund’s performance. When a fund has a high standard deviation, its range of performance has been very wide, indicating that there is a great potential for volatility than those with low standard deviations.

The breakdown of fund investments is presented to illustrate the way in which a fund may invest, and may not be representative of a fund’s current or future investments. A fund’s investments may change at any time.

The statements contained herein are based on information believed to be reliable and are provided for information purposes only. Where such information is based in whole or in part on information provided by third parties, we cannot guarantee that it is accurate, complete or current at all times. It does not provide investment, tax or legal advice, and is not an offer or solicitation to buy. Graphs and charts are used for illustrative purposes only and do not reflect future values or returns on investment of any fund or portfolio. Particular investment strategies should be evaluated according to an investor’s investment objectives and tolerance for risk. Fidelity Investments Canada ULC and its affiliates and related entities are not liable for any errors or omissions in the information or for any loss or damage suffered.

From time to time a manager, analyst or other Fidelity employee may express views regarding a particular company, security, and industry or market sector. The views expressed by any such person are the views of only that individual as of the time expressed and do not necessarily represent the views of Fidelity or any other person in the Fidelity organization. Any such views are subject to change at any time, based upon markets and other conditions, and Fidelity disclaims any responsibility to update such views. These views may not be relied on as investment advice and, because investment decisions for a Fidelity Fund are based on numerous factors, may not be relied on as an indication of trading intent on behalf of any Fidelity Fund.

Certain statements in this commentary may contain forward-looking statements (“FLS”) that are predictive in nature and may include words such as “expects”, “anticipates”, “intends”, “plans”, “believes”, “estimates” and similar forward-looking expressions or negative versions thereof. FLS are based on current expectations and projections about future general economic, political and relevant market factors, such as interest and assuming no changes to applicable tax or other laws or government regulation. Expectations and projections about future events are inherently subject to, among other things, risks and uncertainties, some of which may be unforeseeable and, accordingly, may prove to be incorrect at a future date. FLS are not guarantees of future performance, and actual events could differ materially from those expressed or implied in any FLS. A number of important factors can contribute to these digressions, including, but not limited to, general economic, political and market factors in North America and internationally, interest and foreign exchange rates, global equity and capital markets, business competition and catastrophic events. You should avoid placing any undue reliance on FLS. Further, this is no specific intention of updating any FLS whether as a result of new information, future events or otherwise.

While the fund is typically managed to this constraint, the portfolio manager retains the discretion to deviate from it, and it is not included in the offering document as part of the fund’s investment strategies.

Morningstar Ratings are based on fund returns for the previous month end period and are subject to change monthly. Morningstar Star Ratings are assigned based on the ranked Morningstar Risk-Adjusted Return of each fund compared to other funds in the same CIFSC Category. Morningstar calculates ratings for the three-, five- and ten-year periods, and then the Overall Morningstar Rating is based on a weighted average of Morningstar Ratings for available time periods. Morningstar calculates ratings for categories with at least five funds. If a fund scores in the top 10% of its category, it receives five stars; if it falls in the next 22.5%, it receives four stars; the next 35% earns a fund three stars; those in the next 22.5% receive two stars; and the lowest 10% receive one star. For greater detail, see morningstar.ca

© 2024 Morningstar Research Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is not a guarantee of future results.

The Morningstar quartiles divide the ranked returns of all funds in a category into four groups with an equal number of funds in each (1,2,3,4). The quartile measure shows how well a fund has performed compared to all other funds in the same category over the same time period and are updated monthly. For the purpose of calculating quartile breakpoints, Morningstar assesses the return of each series of multi-series funds a fractional weight so that in aggregate a fund offered in multi-series, e.g., Series A, Series B, etc., occupies no more than one place in the category. Each series of each fund is then assessed a quartile rating depending upon where its return is situated relative to the quartile breakpoints. This accounting prevents a single portfolio in a smaller category from dominating any portion of the rating scales. The top 25% of funds (or quarter) are at the first quartile, the next 25% of funds are at the second, and the next group is of the third quartile. The bottom 25% of funds with the poorest performance is at the fourth quartile.

A fund’s volatility is determined using statistical measure called “standard deviation.” Standard deviation measures the amount of variability of returns that has historically occurred relative to the average return. The higher the standard deviation of a fund, the greater the range of returns it has experienced in the past. Other types of risk, both measurable and non-measurable, exist. In addition, just as historical performance may not be indicative of future returns, a fund’s historical volatility may not be indicative of its future volatility.

Mutual fund strategies and current holdings are subject to change.

Regulatory restrictions limit publishing to investors any performance returns for funds or portfolios with a history of less than one year.

Information for foreign investors

This communication does not constitute an offer or solicitation by anyone in the United States or any other jurisdiction in which such an offer or solicitation is not authorized to any person to whom it is unlawful to make such an offer or solicitation. Prospective investors who are not resident in Canada should consult with their advisor to determine if: (1) these mutual funds or pools may be lawfully sold in their jurisdiction; and/or (2) Fidelity Private Wealth’s services may be lawfully procured in their jurisdiction.

No investment recommendations or professional advice

Generally, the Fidelity sites do not provide tax, legal, insurance or investment advice, and nothing on the Fidelity sites should be construed as an offer to sell, a solicitation or an offer to buy or a recommendation of any security by Fidelity or any third party. However, certain tools available on the Fidelity sites may be deemed to provide general investment advice, within the meaning of the securities laws, based upon your personalized input. Unless otherwise specified, you alone are solely responsible for determining whether any investment, security or strategy, or any other product or service, is appropriate or suitable for you, based on your investment objectives and personal and financial situation. You should consult an attorney or tax professional regarding your specific legal or tax situation.

Views expressed regarding a particular company, security, industry or market sector are the views of only that individual as of the time expressed and do not necessarily represent the views of Fidelity or any other person in the Fidelity organization and are not a recommendation to buy or sell. Any such views are subject to change at any time based upon markets and other conditions, and Fidelity disclaims any responsibility to update such views. These views may not be relied on as investment advice and, because investment decisions for a Fidelity Fund or Pool are based on numerous factors, may not be relied on as an indication of trading intent on behalf of any Fidelity Fund or Pool.

Copyright policy, linking policy and trademarks

Unless you and Fidelity have agreed otherwise, links from another website to a Fidelity site must resolve to the top-level homepage of a Fidelity domain (e.g., www.fidelity.ca).

In order to avoid confusion, if you do link from another website to a Fidelity top-level homepage, your website, and the link itself, may not suggest that Fidelity endorses, sponsors or is affiliated with any non-Fidelity website, entity, service or product, and may not make use of any Fidelity trademarks or service marks other than those contained within the text of the link.

All word marks, trademarks and service marks on the Fidelity sites belong to Fidelity Investments Canada, except third-party trademarks and service marks, which are the property of their respective owners.

If you believe that your work has been copied in a way that constitutes copyright infringement, please provide Fidelity with the following information:

a physical or electronic signature of a person authorized to act on behalf of the owner of the copyright allegedly infringed;
a description of the copyrighted work that you claim has been infringed, or, if multiple copyrighted works are the subject of a single notice, a representative list of such works;
an identification of the allegedly infringing material, and a description of where that material is located on the Fidelity sites;
your address, telephone number and email address;
a statement by you that you have a good-faith belief that use of the disputed material in the manner complained of is not authorized by the copyright owner, its agent or the law; and
a statement by you that the information you provide in your notice is accurate and that you are the owner of the allegedly infringed copyright, or that you are authorized to act on behalf of the copyright owner.

Fidelity’s Agent for Notice of claims of copyright infringement can be reached as follows:
By mail: Robyn Mendelson, Fidelity Investments Canada, 483 Bay Street Suite 300, Toronto, Ontario M5G 2N7
By phone: 416 307-5200
By email: robyn.mendelson@fidelity.ca

Third-party content and sites

The Fidelity sites include general news and information, commentary, interactive tools, quotes, research reports and data concerning the financial markets, securities and other subjects. Some of that content is supplied by companies that are not affiliated with Fidelity (“third-party content”). Most third-party content is available through framed areas or through hyperlinks to third-party websites, and its source is clearly and prominently identified.

Fidelity’s website uses YouTube's API services in connection with embedding video thumbnail images and descriptions provided by YouTube LLC (“YouTube”). As such, you acknowledge and agree that by accessing the videos linked through the embedded video thumbnail images and descriptions, you are also bound by YouTube’s Terms of Service and Google’s Privacy Policy. Using YouTube’s offering requires a connection to be established to YouTube’s servers. During this process, certain information is transmitted to YouTube. We do not control the collection, storage or use of any of your information by YouTube and do not have access to any information collected. You should review Google’s and YouTube’s Privacy Policies carefully before you use any YouTube features. Further information about how your data are collected and used by YouTube and your rights in relation to this can be found in YouTube's privacy policy at www.youtube.com.

Although third-party content may be framed-in on the Fidelity sites or available through a link to a third-party site, Fidelity does not prepare, edit or endorse third-party content. Fidelity therefore does not guarantee its accuracy, timeliness, completeness or usefulness, and is not responsible or liable for any content, advertising, products or other materials on or available from third-party sites. You will use third-party content only at your own risk.

Changes to Fidelity sites

Unless otherwise agreed, Fidelity may discontinue or modify the Fidelity sites at any time without prior notice to you, and you accept those modifications if you continue to use the Fidelity sites.

All content on the Fidelity sites is presented only as of the date published or indicated, and may be superseded by subsequent market events or for other reasons. In addition, you are responsible for setting the cache setting on your browser to ensure you are receiving the most recent data.

Prohibited uses

Because all servers have limited capacity and are used by many people, do not use Fidelity sites in any manner that could damage or overburden any Fidelity server, or any network connected to any Fidelity server. Do not use Fidelity sites in any manner that would interfere with any other party’s use of the Fidelity sites.

Certain parts of the Fidelity sites are protected by passwords or require login. You may not obtain or attempt to obtain unauthorized access to such parts of the Fidelity sites, or to any other protected materials or information, through any means not intentionally made available by Fidelity for your specific use.

You should not access the Fidelity sites through devices or services that are designed to provide high-speed, automated, repeated access, unless such devices are approved or made available by Fidelity.

Password security and notification

If you have a personal identification number (PIN) for access to non-public areas of the Fidelity sites, you are solely responsible for all activities that occur in connection with your PIN. Accordingly, you should take steps to protect the confidentiality of your PIN. Notify Fidelity immediately if you become aware of any disclosure, loss, theft or unauthorized use of your PIN.

Disclaimer of warranties

Fidelity does not make any express or implied warranties about the Fidelity sites, including but not limited to implied warranties of merchantability, fitness for a particular purpose or non-infringement.
The Fidelity sites are made available to you “as is” and “as available,” and Fidelity does not warrant that any defects or inaccuracies will be corrected.
Fidelity does not warrant that the Fidelity sites will meet your needs, or that they will be uninterrupted, timely, secure or error-free. Fidelity also makes no warranty that the results obtained from the use of the Fidelity sites will be accurate or reliable, or that the quality of any products, services, information or other material purchased or obtained by you through the Fidelity sites will meet your expectations. This provision may not apply to participants in certain employer-sponsored workplace savings plans.

Limitation of liability

Fidelity does not make any express or implied warranties about the Fidelity sites, including but not limited to implied warranties of merchantability, fitness for a particular purpose or non-infringement.
The Fidelity sites are made available to you “as is” and “as available,” and Fidelity does not warrant that any defects or inaccuracies will be corrected.
Fidelity does not warrant that the Fidelity sites will meet your needs, or that they will be uninterrupted, timely, secure or error-free. Fidelity also makes no warranty that the results obtained from the use of the Fidelity sites will be accurate or reliable, or that the quality of any products, services, information or other material purchased or obtained by you through the Fidelity sites will meet your expectations. This provision may not apply to participants in certain employer-sponsored workplace savings plans.
Fidelity will not be liable to you or anyone else for any consequential, incidental, special or indirect damages (including but not limited to lost profits, trading losses or damages that result from use or loss of use of the Fidelity sites and third-party content, inconvenience or delay). This is true even if Fidelity has been advised of the possibility of such damage or losses.
Fidelity will not be liable to you or anyone else for any loss resulting from a cause over which Fidelity does not have direct control. This include failure of electronic or mechanical equipment or communications lines (including telephone, cable and Internet), unauthorized access, viruses, theft, operator errors, severe or extraordinary weather (including flood, earthquake or other act of God), fire, war, insurrection, terrorist act, riot, labour dispute and other labour problems, accident, emergency or action of government.