Investment objective & strategy
As of Dec. 29, 2025 · prospectusObjective. Fidelity ZERO International Index Fund seeks to provide investment results that correspond to the total return of foreign developed and emerging stock markets.
Strategy. Normally investing at least 80% of assets in securities included in the Fidelity Global ex U.S. IndexSM and in depositary receipts representing securities included in the index. The Fidelity Global ex U.S. Index SM is a float-adjusted market capitalization-weighted index designed to reflect the performance of stocks of non-U.S. large- and mid- capitalization companies. The Fidelity Global ex U.S. Index SM was created by Fidelity Product Services LLC (FPS) using a rules-based proprietary index methodology that includes all non-U.S. large- and mid-capitalization 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% … Normally investing at least 80% of assets in securities included in the Fidelity Global ex U.S. IndexSM and in depositary receipts representing securities included in the index. The Fidelity Global ex U.S. Index SM is a float-adjusted market capitalization-weighted index designed to reflect the performance of stocks of non-U.S. large- and mid- capitalization companies. The Fidelity Global ex U.S. Index SM was created by Fidelity Product Services LLC (FPS) using a rules-based proprietary index methodology that includes all non-U.S. large- and mid-capitalization 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. 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, earnings growth, country weightings, and the effect of foreign taxes to attempt to replicate the returns of the Fidelity Global ex U.S. Index?. Lending securities to earn income for the fund.
Top holdings
As of Jan. 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| TSMC | — | $331.88M | 3.57% |
| Fidelity Cash Central Fund | — | $246.08M | 2.65% |
| ASML Holding NV | — | $138.93M | 1.49% |
| SAMSUNG ELECTRONICS CO LTD | — | $137.27M | 1.48% |
| TENCENT HOLDINGS LTD | — | $117.53M | 1.26% |
| BABA-W | — | $101.36M | 1.09% |
| SK HYNIX INC | — | $85.40M | 0.92% |
| ROCHE HOLDINGS AG (GENUSSCHEINE) | — | $79.82M | 0.86% |
| HSBC HOLDINGS PL | — | $75.61M | 0.81% |
| ASTRAZENECA PLC | — | $72.10M | 0.78% |
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 International Index Fund · FITFX | 98% | 0.00% |
| VIP International Index Portfolio | 93% | 0.16% |
| Fidelity Global ex U.S. Index Fund · FSGGX | 91% | 0.06% |
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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