Investment objective & strategy
As of April 24, 2025 · prospectusObjective. Fidelity SAI Short-Term Treasury Bond Index Fund seeks a high level of current income in a manner consistent with preservation of capital.
Strategy. Normally investing at least 80% of assets in securities included in the Bloomberg U.S. 1-5 Year Treasury Bond Index. The index is a market value-weighted index of investment-grade fixed-rate public obligations of the U.S. Treasury with maturities between one and five years. 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, … Normally investing at least 80% of assets in securities included in the Bloomberg U.S. 1-5 Year Treasury Bond Index. The index is a market value-weighted index of investment-grade fixed-rate public obligations of the U.S. Treasury with maturities between one and five years. 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 Treasury Bond Index using a smaller number of securities.
Top holdings
As of Feb. 28, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| US TREASURY N/B | — | $27.82M | 4.31% |
| US TREASURY N/B | — | $25.62M | 3.97% |
| US TREASURY N/B | — | $17.63M | 2.73% |
| US TREASURY N/B | — | $16.34M | 2.53% |
| US TREASURY N/B | — | $15.88M | 2.46% |
| US TREASURY N/B | — | $13.20M | 2.04% |
| US TREASURY N/B | — | $12.12M | 1.88% |
| US TREASURY N/B | — | $10.93M | 1.69% |
| US TREASURY N/B | — | $10.86M | 1.68% |
| US TREASURY N/B | — | $10.59M | 1.64% |
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. |
|---|---|---|
| Invesco MSCI Treasury Duration Rotation ETF | 64% | 0.15% |
| State Farm Interim Fund · SFITX | 63% | 0.16% |
| Fidelity Short-Term Treasury Bond Index Fund · FUMBX | 54% | 0.03% |
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 April 24, 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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