Investment objective & strategy
As of Dec. 22, 2025 · prospectusObjective. Fidelity SAI Small-Mid Cap Momentum Index Fund seeks to provide investment results that correspond to the total return of small- to mid-capitalization stocks with high momentum characteristics.
Strategy. Normally investing at least 80% of assets in securities included in the Fidelity U.S. Small-Mid Cap Momentum Focus IndexSM. The Fidelity U.S. Small-Mid Cap Momentum Focus IndexSM 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. Extended Investable Market IndexSM, a float-adjusted market capitalization-weighted index designed to reflect the performance of U.S. mid- and small-cap stocks. The Fidelity U.S. Extended Investable Market IndexSM is a subset of the Fidelity U.S. Total Investable Market IndexSM, excluding the 500 largest companies. The Fidelity U.S. Small-Mid Cap Momentum Focus IndexSMwas created by Fidelity Product Services LLC (FPS) using a rules-based proprietary index methodology that includes all … Normally investing at least 80% of assets in securities included in the Fidelity U.S. Small-Mid Cap Momentum Focus IndexSM. The Fidelity U.S. Small-Mid Cap Momentum Focus IndexSM 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. Extended Investable Market IndexSM, a float-adjusted market capitalization-weighted index designed to reflect the performance of U.S. mid- and small-cap stocks. The Fidelity U.S. Extended Investable Market IndexSM is a subset of the Fidelity U.S. Total Investable Market IndexSM, excluding the 500 largest companies. The Fidelity U.S. Small-Mid Cap Momentum Focus IndexSMwas 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. 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 |
|---|---|---|---|
| SANDISK CORPORATION | — | $67.26M | 3.36% |
| Fidelity Securities Lending Cash Central Fund | — | $35.07M | 1.75% |
| COMFORT SYSTEMS USA INC | — | $33.94M | 1.70% |
| ANGLOGOLD ASHANTI PLC | — | $31.21M | 1.56% |
| ROCKET LAB CORP | — | $30.66M | 1.53% |
| CIENA CORP | — | $29.92M | 1.50% |
| CURTISS WRIGHT CORPORATION | — | $29.02M | 1.45% |
| ALBEMARLE CORP | — | $28.00M | 1.40% |
| LUMENTUM HOLDINGS INC | — | $27.37M | 1.37% |
| CASEY'S GENERAL | — | $26.66M | 1.33% |
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. |
|---|---|---|
| State Street(R) SPDR(R) S & P 400(TM) Mid Cap Growth ETF · MDYG | 34% | 0.15% |
| iShares S&P Mid-Cap 400 Growth ETF · IJK | 33% | 0.17% |
| Pacer Lunt Midcap Multi-Factor Alternator ETF · PAMC | 31% | 0.60% |
Advisers
| Firm | Role |
|---|---|
| Fidelity Management & Research Company LLC | Adviser |
| Geode Capital Management, LLC | Sub-adviser |
Footnotes
- Expense ratio as of December 22, 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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