Investment objective & strategy
As of Sept. 24, 2025 · prospectusObjective. Fidelity SAI U.S. Momentum Index Fund seeks to provide investment results that correspond to the total return of U.S. stocks with high price momentum.
Strategy. Prior to October 31, 2025, normally investing at least 80% of assets in securities included in the MSCI USA Custom Momentum Composite Index. The MSCI USA Custom Momentum Composite Index is a customized version of the MSCI USA Momentum Index, which is designed to reflect the performance of an equity momentum strategy by emphasizing stocks with relatively higher price momentum. Effective October 31, 2025, normally investing at least 80% of assets in securities included in the Fidelity U.S. Large Cap Momentum Focus Index?. The Fidelity U.S. Large Cap Momentum Focus Index ? is designed to reflect a well-diversified portfolio that invests in companies based on price and earnings momentum metrics. It is a subset of the Fidelity U.S. 1000 Index … Prior to October 31, 2025, normally investing at least 80% of assets in securities included in the MSCI USA Custom Momentum Composite Index. The MSCI USA Custom Momentum Composite Index is a customized version of the MSCI USA Momentum Index, which is designed to reflect the performance of an equity momentum strategy by emphasizing stocks with relatively higher price momentum. Effective October 31, 2025, normally investing at least 80% of assets in securities included in the Fidelity U.S. Large Cap Momentum Focus Index?. The Fidelity U.S. Large Cap Momentum Focus Index ? is designed to reflect a well-diversified portfolio that invests in companies based on price and earnings momentum metrics. It is a subset of the Fidelity U.S. 1000 Index ? , designed to reflect the performance of stocks of large and mid-capitalization U.S. companies. The Fidelity U.S. 1000 Index ? is a subset of the Fidelity U.S. Total Investable Market Index ? , including the 1,000 largest U.S. stocks based on float adjusted market cap and excluding small-capitalization stocks. The Fidelity U.S. Large Cap Momentum Focus Index ? was created by Fidelity Product Services LLC (FPS) using a rules-based proprietary index methodology that includes all U.S. stocks meeting certain market capitalization, liquidity and investability requirements. 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. Lending securities to earn income for the fund.
Top holdings
As of Jan. 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| NVIDIA CORP | — | $697.90M | 10.00% |
| ALPHABET INC CL A | — | $590.97M | 8.47% |
| BROADCOM INC | — | $356.80M | 5.11% |
| JPMORGAN CHASE and CO | — | $279.37M | 4.00% |
| JOHNSON&JOHNSON | — | $278.11M | 3.99% |
| MICRON TECHNOLOGY INC | — | $245.54M | 3.52% |
| MICROSOFT CORP | — | $244.06M | 3.50% |
| APPLE INC | — | $221.67M | 3.18% |
| PALANTIR TECHNOLOGIES INC | — | $176.30M | 2.53% |
| GENERAL ELECTRIC CO | — | $172.05M | 2.47% |
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. |
|---|---|---|
| iShares MSCI USA Momentum Factor ETF · MTUM | 57% | 0.15% |
| Fidelity Momentum Factor ETF · FDMO | 50% | 0.15% |
| Large Cap Core Portfolio I | 50% | — |
Advisers
| Firm | Role |
|---|---|
| Fidelity Management & Research Company LLC | Adviser |
| Geode Capital Management, LLC | Sub-adviser |
Footnotes
- Expense ratio as of September 24, 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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