Investment objective & strategy
As of Oct. 27, 2025 · prospectusObjective. Fidelity Short-Term Bond Index Fund seeks to obtain a high level of current income consistent with preservation of capital.
Strategy. Normally investing at least 80% of assets in securities included in the Bloomberg U.S. 1-5 Year Government/Credit Bond Index. The Bloomberg U.S. 1-5 Year Government/Credit Bond Index is a market value-weighted index of fixed-rate investment-grade debt securities with maturities from one to five years from the U.S. Treasury, U.S. Government-Related, and U.S. Corporate Indexes. 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. Normally maintaining a dollar-weighted average maturity that generally is expected to be three years or less, consistent with … Normally investing at least 80% of assets in securities included in the Bloomberg U.S. 1-5 Year Government/Credit Bond Index. The Bloomberg U.S. 1-5 Year Government/Credit Bond Index is a market value-weighted index of fixed-rate investment-grade debt securities with maturities from one to five years from the U.S. Treasury, U.S. Government-Related, and U.S. Corporate Indexes. 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. Normally maintaining a dollar-weighted average maturity that generally is expected to be three years or less, consistent with that of the index. Using statistical sampling techniques based on duration, maturity, interest rate sensitivity, security structure, and credit quality to attempt to replicate the returns of the Bloomberg U.S. 1-5 Year Government/Credit Bond Index using a smaller number of securities. Engaging in transactions that have a leveraging effect on the fund, including investments in derivatives - such as swaps (interest rate, total return, and credit default), options, and futures contracts - and forward-settling securities, to adjust the fund's risk exposure. Investing in domestic and foreign issuers.
Top holdings
As of Feb. 28, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| US TREASURY N/B | — | $127.58M | 3.51% |
| US TREASURY N/B | — | $102.48M | 2.82% |
| US TREASURY N/B | — | $92.11M | 2.53% |
| US TREASURY N/B | — | $89.05M | 2.45% |
| US TREASURY N/B | — | $87.75M | 2.42% |
| US TREASURY N/B | — | $87.60M | 2.41% |
| US TREASURY N/B | — | $86.04M | 2.37% |
| US TREASURY N/B | — | $78.29M | 2.15% |
| US TREASURY N/B | — | $73.83M | 2.03% |
| US TREASURY N/B | — | $71.78M | 1.98% |
Portfolio moves
Nov 30, 2025 → Feb 28, 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. |
|---|---|---|
| Fidelity Short-Term Treasury Bond Index Fund · FUMBX | 40% | 0.03% |
| Schwab Short-Term Bond Index Fund · SWSBX | 39% | 0.06% |
| VANGUARD SHORT-TERM BOND INDEX FUND · VBISX, VBIRX, BSV, VBITX, VBIPX | 36% | 0.02% |
Advisers
| Firm | Role |
|---|---|
| FMR Investment Management (UK) Limited | Sub-adviser |
| Fidelity Management & Research (Japan) Limited | Sub-adviser |
| Fidelity Management & Research (Hong Kong) Limited | Sub-adviser |
| Fidelity Management & Research Company LLC | Adviser |
Footnotes
- Expense ratio as of October 27, 2025, from the fund's prospectus.
- Net assets and holdings count as of February 28, 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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