Investment objective & strategy
As of Feb. 24, 2026 · prospectusObjective. Fidelity Series 0-5 Year Inflation-Protected Bond Index Fund seeks to provide investment results that correspond to the total return of the inflation-protected sector of the United States Treasury market.
Strategy. Normally investing at least 80% of assets in inflation-protected debt securities included in the Bloomberg US Treasury Inflation-Protected Securities (TIPS) 0-5 Years Index. The Bloomberg US Treasury Inflation-Protected Securities (TIPS) 0-5 Years Index is a market value-weighted index that measures the performance of inflation-protected securities issued by the U.S. Treasury that have a remaining average life of less than 5 years. 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. Using statistical sampling techniques based on duration, maturity, interest rate sensitivity, security structure, and credit … Normally investing at least 80% of assets in inflation-protected debt securities included in the Bloomberg US Treasury Inflation-Protected Securities (TIPS) 0-5 Years Index. The Bloomberg US Treasury Inflation-Protected Securities (TIPS) 0-5 Years Index is a market value-weighted index that measures the performance of inflation-protected securities issued by the U.S. Treasury that have a remaining average life of less than 5 years. 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. 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 US Treasury Inflation-Protected Securities (TIPS) 0-5 Years 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) and futures contracts - and forward-settling securities, to adjust the fund's risk exposure.
Top holdings
As of March 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| U.S. Treasury Notes | TII | $530.03M | 5.44% |
| U.S. Treasury Inflation-Linked Notes | TII | $512.81M | 5.27% |
| U.S. Treasury Inflation-Protected Indexed Notes | TII | $493.24M | 5.06% |
| U.S. Treasury Notes | TII | $490.97M | 5.04% |
| U.S. TREASURY INFLATION-PROTECTED SECURITIES 1.250 04/15/2028 | TII | $485.48M | 4.98% |
| U.S. TREASURY INFLATION-PROTECTED SECURITIES 2.375% 10/15/2028 | TII | $479.18M | 4.92% |
| U.S. TREASURY INFLATION-PROTECTED SECURITIES .125 07/15/2030 | TII | $472.85M | 4.86% |
| U.S. TREASURY INFLATION-PROTECTED SECURITIES 0-1/8% 01/15/2031 | TII | $455.52M | 4.68% |
| U.S. TREASURY INFLATION-PROTECTED SECURITIES 0-1/8% 04/15/2027 | TII | $454.73M | 4.67% |
| U.S. TREASURY INFLATION-PROTECTED SECURITIES 1-5/8% 10/15/27 | TII | $441.86M | 4.54% |
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. |
|---|---|---|
| VANGUARD SHORT-TERM INFLATION-PROTECTED SECURITIES INDEX FUND · VTAPX, VTIP, VTSPX, VTIPX | 97% | 0.02% |
| iShares Short-Term TIPS Bond Index Fund | 97% | 0.06% |
| Fidelity SAI 0-5 Year Inflation-Protected Bond Index Fund · FFNYX | 95% | 0.05% |
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 February 24, 2026, 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. As reported in the fund's prospectus performance bar chart.
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