Investment objective & strategy
As of Dec. 29, 2025 · prospectusObjective. Fidelity SAI U.S. Low Volatility Index Fund seeks to provide investment results that correspond to the total return of low volatility U.S. stocks.
Strategy. Normally investing at least 80% of assets in U.S. equity securities included in the Fidelity U.S. Low Volatility Focus IndexSM . The Fidelity U.S. Low Volatility Focus Index SM represents the performance of a broad range of U.S. equities that in the aggregate have lower volatility relative to the broader U.S. equity market. The universe of equities for consideration in the index consists of the largest U.S. equities based on market capitalization and certain liquidity and investability requirements. The Fidelity U.S. Low Volatility Focus Index SM is constructed using Fidelity's rules-based proprietary index methodology. Equities are ranked and given a composite score based on three measures of volatility: low 5-year standard deviation of price returns, low 5-year beta, and low … Normally investing at least 80% of assets in U.S. equity securities included in the Fidelity U.S. Low Volatility Focus IndexSM . The Fidelity U.S. Low Volatility Focus Index SM represents the performance of a broad range of U.S. equities that in the aggregate have lower volatility relative to the broader U.S. equity market. The universe of equities for consideration in the index consists of the largest U.S. equities based on market capitalization and certain liquidity and investability requirements. The Fidelity U.S. Low Volatility Focus Index SM is constructed using Fidelity's rules-based proprietary index methodology. Equities are ranked and given a composite score based on three measures of volatility: low 5-year standard deviation of price returns, low 5-year beta, and low 5-year standard deviation of earnings per share. 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 |
|---|---|---|---|
| MICROSOFT CORP | — | $1.23B | 6.58% |
| APPLE INC | — | $1.18B | 6.35% |
| NVIDIA CORP | — | $974.85M | 5.24% |
| ALPHABET INC CL A | — | $594.21M | 3.19% |
| JOHNSON&JOHNSON | — | $589.70M | 3.17% |
| LILLY ELI and CO | — | $521.28M | 2.80% |
| VISA INC-CLASS A | — | $496.81M | 2.67% |
| PROCTER & GAMBLE | — | $465.84M | 2.50% |
| CISCO SYSTEMS INC | — | $444.49M | 2.39% |
| HOME DEPOT INC | — | $427.38M | 2.30% |
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. |
|---|---|---|
| Fidelity Low Volatility Factor ETF · FDLO | 62% | 0.15% |
| FlexShares US Quality Low Volatility Index Fund · QLV | 54% | 0.08% |
| ALPS | OShares U.S. Quality Dividend ETF · OUSA | 47% | 0.48% |
Advisers
| Firm | Role |
|---|---|
| Fidelity Management & Research Company LLC | Adviser |
| Geode Capital Management, LLC | Sub-adviser |
Footnotes
- Expense ratio as of December 29, 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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