Investment objective & strategy
As of Nov. 24, 2025 · prospectusObjective. Fidelity Strategic Real Return Fund seeks real return consistent with reasonable investment risk.
Strategy. Allocating the fund's assets in seeking real return (total return reduced by the expected impact of inflation) among four general investment categories: inflation-protected debt securities, floating rate loans (including lower-quality debt securities (those of less than investment-grade quality, also referred to as high yield debt securities or junk bonds)), commodity-linked derivative instruments and related investments, and real estate investment trusts (REITs) and other real estate related investments. Using a neutral mix of approximately 25% inflation-protected debt securities (which attempts to track the Bloomberg U.S. Treasury Inflation-Protected Securities (TIPS) Index, an index composed of inflation-protected debt securities issued by the U.S. Treasury), 25% floating rate loans, 30% commodity-linked derivative instruments and related investments, and 20% REITs and other real estate related … Allocating the fund's assets in seeking real return (total return reduced by the expected impact of inflation) among four general investment categories: inflation-protected debt securities, floating rate loans (including lower-quality debt securities (those of less than investment-grade quality, also referred to as high yield debt securities or junk bonds)), commodity-linked derivative instruments and related investments, and real estate investment trusts (REITs) and other real estate related investments. Using a neutral mix of approximately 25% inflation-protected debt securities (which attempts to track the Bloomberg U.S. Treasury Inflation-Protected Securities (TIPS) Index, an index composed of inflation-protected debt securities issued by the U.S. Treasury), 25% floating rate loans, 30% commodity-linked derivative instruments and related investments, and 20% REITs and other real estate related investments. Investing in domestic and foreign issuers. Analyzing a security's structural features and current pricing, its issuer's potential for success, and the credit, currency, and economic risks of the security and its issuer to select investments. Using fundamental analysis of factors such as each issuer's financial condition and industry position, as well as market and economic conditions, to select investments. Investing in Fidelity's Central funds (specialized investment vehicles used by Fidelity funds to invest in particular security types or investment disciplines) consistent with the asset classes discussed above.
Top holdings
As of March 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| Fidelity Floating Rate Central Fund | — | $134.78M | 24.93% |
| Fidelity Commodity Strategy Central Fund | — | $82.37M | 15.23% |
| Fidelity Real Estate Equity Central Fund | — | $52.51M | 9.71% |
| EXXON MOBIL CORP | — | $7.54M | 1.39% |
| CORTEVA INC | — | $6.77M | 1.25% |
| Fidelity Cash Central Fund | — | $5.93M | 1.10% |
| U.S. Treasury Inflation-Protected Indexed Notes | TII | $5.23M | 0.97% |
| U.S. Treasury Inflation-Protected Indexed Notes | TII | $4.91M | 0.91% |
| U.S. Treasury Notes | TII | $4.89M | 0.90% |
| U.S. TREASURY INFLATION-PROTECTED SECURITIES 0-1/2% 01/15/2028 | TII | $4.85M | 0.90% |
Portfolio moves
Dec 31, 2025 → Mar 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. |
|---|---|---|
| Hartford Real Asset Fund · HRLIX, HRLRX, HRLSX, HRLTX, HRLYX, HRLAX, HRLCX, HRLFX, HRLZX | 25% | 0.90% |
| Fidelity Inflation-Protected Bond Index Fund · FIPDX | 23% | 0.05% |
| Fidelity SAI Inflation-Protected Bond Index Fund · FSPWX | 23% | 0.05% |
Footnotes
- Expense ratio as of November 24, 2025, from the fund's prospectus.
- Net assets and holdings count as of March 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).
Machine-readable: JSON · Markdown. Programmatic access via the agent surface.