Investment objective & strategy
As of July 11, 2025 · prospectusObjective. Fidelity Flex Small Cap Focused Index Fund seeks to provide investment results that correspond to the total return of stocks of small-capitalization U.S. companies.
Strategy. Normally investing at least 80% of assets in securities of small-capitalization companies included in the Fidelity U.S. Small Cap Focused IndexSM. The Fidelity U.S. Small Cap Focused Index SM is designed to reflect the performance of stocks of small-capitalization companies. Small-capitalization stocks are considered to be stocks whose market capitalization is similar to the market capitalization of companies in the Russell 2000 Index or the S&P SmallCap 600 Index. The Fidelity U.S. Small Cap Focused Index SM 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 … Normally investing at least 80% of assets in securities of small-capitalization companies included in the Fidelity U.S. Small Cap Focused IndexSM. The Fidelity U.S. Small Cap Focused Index SM is designed to reflect the performance of stocks of small-capitalization companies. Small-capitalization stocks are considered to be stocks whose market capitalization is similar to the market capitalization of companies in the Russell 2000 Index or the S&P SmallCap 600 Index. The Fidelity U.S. Small Cap Focused Index SM 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. Using statistical sampling techniques based on such factors as capitalization, industry exposures, dividend yield, price-to-earnings (P/E) ratio, price-to-book (P/B) ratio, and earnings growth to attempt to replicate the returns of the Fidelity U.S. Small Cap Focused IndexSM. Lending securities to earn income for the fund.
Top holdings
As of Jan. 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| ROCKET LAB CORP | — | $148.05K | 1.47% |
| BLOOM ENERGY CORP CL A | — | $145.92K | 1.45% |
| CREDO TECHNOLOGY GROUP HOLDING LTD | — | $80.68K | 0.80% |
| KRATOS DEFENSE and SEC SOLTN INC | — | $73.96K | 0.73% |
| REVOLUTION MEDICINES INC | — | $73.68K | 0.73% |
| HECLA MINING CO | — | $71.97K | 0.71% |
| AST SPACEMOBILE INC | — | $68.39K | 0.68% |
| MACOM TECHNOLOGY SOLUTIONS HOLDINGS INC | — | $59.80K | 0.59% |
| TTM TECHNOLOGIES INC | — | $58.53K | 0.58% |
| ROCKET COS INC-A | — | $54.38K | 0.54% |
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 Flex Small Cap Index Fund · FLXSX | 64% | 0.00% |
| Schwab Small-Cap Index Fund · SWSSX | 51% | 0.04% |
| Penn Series Small Cap Index Fund | 51% | 0.71% |
Footnotes
- Expense ratio as of July 11, 2025, from the fund's prospectus.
- Net assets and holdings count as of January 31, 2026, from the fund's N-PORT filing.
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