Investment objective & strategy
As of June 24, 2025 · prospectusObjective. Fidelity Flex Small Cap Index Fund seeks to provide investment results that correspond to the total return of stocks of small-capitalization U.S. companies.
Strategy. Prior to July 21, 2025, normally investing at least 80% of assets in securities included in the Russell 2000 Index. The Russell 2000 Index is a market capitalization-weighted index designed to measure the performance of the small-cap segment of the U.S. equity market. Effective July 21, 2025, normally investing at least 80% of assets in securities included in the Fidelity U.S. Small Cap IndexSM. The Fidelity U.S. Small Cap Index SM is a float-adjusted market capitalization-weighted index designed to reflect the performance of stocks of U.S. small-capitalization companies. It is a subset of the Fidelity U.S. Total Investable Market Index SM (a float-adjusted market capitalization-weighted index designed to reflect the performance for the U.S. equity market, including large-, mid-, and … Prior to July 21, 2025, normally investing at least 80% of assets in securities included in the Russell 2000 Index. The Russell 2000 Index is a market capitalization-weighted index designed to measure the performance of the small-cap segment of the U.S. equity market. Effective July 21, 2025, normally investing at least 80% of assets in securities included in the Fidelity U.S. Small Cap IndexSM. The Fidelity U.S. Small Cap Index SM is a float-adjusted market capitalization-weighted index designed to reflect the performance of stocks of U.S. small-capitalization companies. It is a subset of the Fidelity U.S. Total Investable Market Index SM (a float-adjusted market capitalization-weighted index designed to reflect the performance for the U.S. equity market, including large-, mid-, and small-capitalization stocks) . Small-capitalization stocks are considered to be stocks whose market capitalization is similar to the market capitalization of companies in the Russell 2000 Index or the S&P SmallCap 600 Index. The Fidelity U.S. Small Cap Index SM was created by Fidelity Product Services LLC (FPS) using a rules-based proprietary index methodology that includes all U.S. stocks meeting certain market capitalization, liquidity, and investability requirements. Effective December 11, 2025, derivative instruments that provide investment exposure to the investments above or exposure to one or more market risk factors associated with such investments are included in the fund's 80% policy, consistent with the fund's investment policies and limitations with respect to investments in derivatives. Lending securities to earn income for the fund.
Top holdings
As of Jan. 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| Fidelity Securities Lending Cash Central Fund | — | $17.39M | 4.63% |
| ROCKET LAB CORP | — | $4.86M | 1.30% |
| BLOOM ENERGY CORP CL A | — | $4.26M | 1.13% |
| AST SPACEMOBILE INC | — | $3.47M | 0.92% |
| CREDO TECHNOLOGY GROUP HOLDING LTD | — | $2.47M | 0.66% |
| REVOLUTION MEDICINES INC | — | $2.28M | 0.61% |
| KRATOS DEFENSE and SEC SOLTN INC | — | $2.25M | 0.60% |
| ROCKET COS INC-A | — | $2.24M | 0.60% |
| ECHOSTAR CORP CL A | — | $1.97M | 0.52% |
| HECLA MINING CO | — | $1.95M | 0.52% |
Portfolio moves
Oct 31, 2025 → Jan 31, 2026How many positions this fund opened, exited, grew, trimmed, or left unchanged between its two most recent N-PORT snapshots — net changes between point-in-time reports, not a trade log.
Similar funds
Funds whose portfolios most overlap this one, by weight| Fund | Overlap | Net exp. |
|---|---|---|
| Schwab Small-Cap Index Fund · SWSSX | 78% | 0.04% |
| Fidelity Small Cap Index Fund · FSSNX | 77% | 0.03% |
| Nuveen Small Cap Blend Index Fund · TISBX, TRBIX, TRHBX, TRHWX | 74% | 0.00% |
Advisers
| Firm | Role |
|---|---|
| Fidelity Management & Research Company LLC | Adviser |
| Geode Capital Management, LLC | Sub-adviser |
Footnotes
- Expense ratio as of June 24, 2025, from the fund's prospectus.
- Net assets and holdings count as of January 31, 2026, from the fund's N-PORT filing.
- Total return for calendar year 2025, before tax and after fund expenses. Computed by compounding the twelve monthly total returns the fund reported in its SEC N-PORT filings for 2025 (the latest prospectus does not yet chart this year).
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