Calculated using MSCI country indices. While there is a difference in returns, it is perhaps not as much as one might expect - and remember that this is an extreme example, based on getting the low or high points exactly right, year after year after year. Investing when markets are uncertain All views expressed are those of the Fidelity organisation. This document may not be reproduced or circulated without prior permission. Extracts from this document must be accompanied by this cover sheet.
Past performance is no guarantee of future returns.
The value of investments may go down as well as up and an investor may not get back the amount invested. Issued by Fidelity Investment Services Ltd, regulated by IMRO and The Personal Investment Authority. Issued in the UK by Fidelity Investments Limited, Fidelity Investment Services Limited and Fidelity Investments International, regulated by IMRO and the Personal Investment Authority. Copyright Fidelity Investments Limited.