Investment objective & strategy
As of Dec. 29, 2025 · prospectusObjective. Fidelity ZERO Extended Market Index Fund seeks to provide investment results that correspond to the total return of stocks of mid- to small-capitalization U.S. companies.
Strategy. Normally investing at least 80% of assets in common stocks included in the Fidelity U.S. Extended Investable Market IndexSM. The Fidelity U.S. Extended Investable Market Index SM is a float-adjusted market capitalization-weighted index designed to reflect the performance of U.S. mid- and small-cap stocks. This index is a subset of the Fidelity U.S. Total Investable Market Index SM (a float-adjusted market capitalization-weighted index designed to reflect the performance of the U.S. equity market, including large-, mid-, and small-capitalization stocks), excluding the 500 largest companies. The Fidelity U.S. Extended Investable Market 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. Derivative … Normally investing at least 80% of assets in common stocks included in the Fidelity U.S. Extended Investable Market IndexSM. The Fidelity U.S. Extended Investable Market Index SM is a float-adjusted market capitalization-weighted index designed to reflect the performance of U.S. mid- and small-cap stocks. This index is a subset of the Fidelity U.S. Total Investable Market Index SM (a float-adjusted market capitalization-weighted index designed to reflect the performance of the U.S. equity market, including large-, mid-, and small-capitalization stocks), excluding the 500 largest companies. The Fidelity U.S. Extended Investable Market 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. 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. Extended Investable Market Index?. Lending securities to earn income for the fund.
Top holdings
As of Jan. 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| Fidelity Securities Lending Cash Central Fund | — | $93.36M | 4.28% |
| SANDISK CORPORATION | — | $24.88M | 1.14% |
| COMFORT SYSTEMS USA INC | — | $12.47M | 0.57% |
| ANGLOGOLD ASHANTI PLC | — | $12.21M | 0.56% |
| ROCKET LAB CORP | — | $11.67M | 0.53% |
| CIENA CORP | — | $11.01M | 0.50% |
| COHERENT CORP | — | $10.34M | 0.47% |
| BLOOM ENERGY CORP CL A | — | $10.21M | 0.47% |
| EMCOR GROUP INC | — | $10.00M | 0.46% |
| SOFI TECHNOLOGIES INC A | — | $8.92M | 0.41% |
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. |
|---|---|---|
| VIP Extended Market Index Portfolio | 92% | 0.12% |
| iShares Russell Small/Mid-Cap Index Fund | 82% | 0.07% |
| Fidelity Extended Market Index Fund · FSMAX | 79% | 0.03% |
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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