Fidelity® Emerging Asia Fund

  • Symbol: FSEAX
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Summary

Morningstar® Snapshot*

AS OF 09/30/2014; MORNINGSTAR CATEGORY: Pacific/Asia ex-Japan Stk
Returns 3 out of 5, Average Returns
LOWAVGHIGH
Expenses 1 out of 5, Low Fees
LOWAVGHIGH
Risk of this Category Category Risk Rating:8, where 1 is Lower and 10 is Higher
LOWERHIGHER

*Data provided by Morningstar. Please click on the indicator above to learn more about comparison groups and methodology.

Performance

 2 More Information
AS OF 9/30/2014
Average Annual Returns
YTD (Daily)* 1 Yr 3 Yr 5 Yr 10 Yr
YTD (Daily)* +7.11% 1 Yr +10.86% 3 Yr +11.66% 5 Yr +7.71% 10 Yr +11.32%
*AS OF 10/30/2014; Value is cumulative

Hypothetical Growth of $10,000

 3, 4 More Information
AS OF 09/30/2014; MORNINGSTAR CATEGORY: Pacific/Asia ex-Japan Stk
Shows growth of hypothetical $10,000 investment in Fidelity® Emerging Asia Fund compared to MS AC Asia exJpn (Net MA),Fid Emerging Asia Linked,Pacific/Asia ex-Japan Stk over the selected time period
Fidelity® Emerging Asia Fund
Pacific/Asia ex-Japan Stk

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The performance data featured represents past performance, which is no guarantee of future results. Investment return and principal value of an investment will fluctuate; therefore, you may have a gain or loss when you sell your shares. Current performance may be higher or lower than the performance data quoted.

Fund Manager(s)

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Colin Chickles since 10/1/2009

Fund Overview

Objective

Seeks capital appreciation.

Strategy

Normally investing at least 80% of assets in securities of Asian emerging market issuers and other investments that are tied economically to Asian emerging markets. Asian countries with emerging markets includes Hong Kong, India, Indonesia, South Korea,Malaysia, the Philippines, the People's Republic of China, Singapore, Taiwan, and Thailand. Normally investing primarily in common stocks.

Risk

Stock markets, especially foreign markets, are volatile and can decline significantly in response to adverse issuer, political, regulatory, market, or economic developments. Foreign securities are subject to interest rate, currency exchange rate, economic, and political risks, all of which are magnified in emerging markets. The risks are particularly significant for funds that focus on a single country or region.

Additional Disclosures

A mutual fund registered under Fidelity Investment Trust, and managed by Fidelity Management & Research Company. This description is only intended to provide a brief overview of the fund. Read the fund's prospectus for more detailed information about the fund.

Prior to December 1, 2010, Fidelity Emerging Asia Fund operated under certain different investment policies and compared its performance to a different benchmark. The fund's historical performance may not represent its current investment policies.

Details

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Morningstar Category Pacific/Asia ex-Japan Stk
Fund Inception 4/19/1993
NAV
10/30/2014
$32.82
Glossary definition opens in new window.Exp Ratio (Gross)
12/30/2013
1.08%
($10.80 per $1000)
Glossary definition opens in new window.Exp Ratio (Net)
12/30/2013
1.08%
($10.80 per $1000)
Redemption Fee 1.50%
Redemption Period 90 days
Minimum to Invest 5 $2,500.00
Turnover Rate
4/30/2014
109%
Glossary definition opens in new window.Portfolio Net Assets ($M)
9/30/2014
$1,099.17
12 Month Low-High
9/30/2014
$28.46 - $34.48

Top 10 Holdings

 6 More Information
AS OF 9/30/2014
Top 10 Holdings
SAMSUNG ELECTRONICS CO LTD
TAIWAN SEMICONDUCT MFG CO LTD
TENCENT HOLDINGS LIMITED
CHINA CONSTRUCTION BANK CORP H
HON HAI PRECISION IND CO LTD
BANK OF CHINA LTD H
PETROCHINA CO LTD H
HYUNDAI MOTOR CO
AIA GROUP LTD
UNITED OVERSEAS BANK (LOC)
% of Total Portfolio 23.54%
Total # of holdings: 247 as of 9/30/2014
Total # of issuers: 247 as of 9/30/2014

Quarter-End Average Annual Total Returns

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AS OF 9/30/2014; FUND INCEPTION 4/19/1993 Glossary definition opens in new window.

EXPENSE RATIO (GROSS):
1.08% AS OF 12/30/2013
1 Yr 3 Yr 5 Yr 10 Yr Life
Glossary definition opens in new window.Before Taxes
Fidelity® Emerging Asia Fund 10.86% 11.66% 7.71% 11.32% 7.48%
Glossary definition opens in new window.After Taxes on Distributions
Fidelity® Emerging Asia Fund 10.70% 11.44% 7.35% 10.81% 7.15%
Glossary definition opens in new window.After taxes on distributions and sale of fund shares
Fidelity® Emerging Asia Fund 6.56% 9.28% 6.15% 9.56% 6.44%

Read more about after-tax returns.

The "Mutual Funds" area at the top of each page allows access to mutual fund holdings with individual and joint Fidelity non-retirement accounts. Individual stock positions, ETFs and 529 funds are not available through this view. For the full list of your holdings visit Portfolio Summary.

Mutual Funds are priced as of the previous business day's market close when the market is open. Mutual fund positions are priced as of the official market close (typically 4p.m.) and prices are generally available between 5 p.m. and 6p.m.

Watch a brief video to learn about using the new mutual fund library to evaluate funds

2013 Morningstar, Inc. All rights reserved. The Morningstar information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or redistributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Fidelity does not review the Morningstar data and, for fund performance, you should check the fund's current prospectus or other product materials for the most up-to-date information concerning applicable loads, fees and expenses.

Performance & Risk

Average Annual Total Returns

 7, 3, 2 More Information
AS OF 9/30/2014; FUND INCEPTION 4/19/1993
1 Yr 3 Yr 5 Yr 10 Yr Life
Fidelity® Emerging Asia Fund 10.86% 11.66% 7.71% 11.32% 7.48%
MS AC Asia exJpn (Net MA) 8.26% 10.91% 6.91% 10.94% 6.36%
Fid Emerging Asia Linked 8.26% 10.91% 6.86% 10.37% 5.94%
Pacific/Asia ex-Japan Stk 10.09% 12.55% 5.85% 10.91% --
Rank in Morningstar Category 25% 65% 29% 55% --
# of Funds in Morningstar Category 90 76 39 23 --

Hypothetical Growth of $10,000

 3, 4 More Information
AS OF 09/30/2014; MORNINGSTAR CATEGORY: Pacific/Asia ex-Japan Stk
Fidelity® Emerging Asia Fund
Pacific/Asia ex-Japan Stk
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
This Fund 13.59% 33.56% 37.19% 55.39% -51.89% 39.20% 22.78% -16.17% 20.90% 3.80% 5.55%
Benchmark 17.72% 23.17% 33.74% 40.52% -52.23% 72.53% 19.93% -17.28% 22.39% 3.09% 4.69%
Benchmark-2 17.32% 21.44% 31.83% 36.56% -50.54% 69.06% 19.84% -17.28% 22.39% 3.09% 4.69%
Category 13.21% 21.30% 45.36% 47.53% -53.50% 71.16% 18.77% -20.95% 23.62% 2.21% 6.79%
+/- Benchmark -4.13% 10.39% 3.45% 14.87% 0.34% -33.33% 2.85% 1.11% -1.49% 0.71% 0.86%
+/- Benchmark-2 -3.73% 12.12% 5.36% 18.83% -1.35% -29.86% 2.94% 1.11% -1.49% 0.71% 0.86%
+/- Category 0.38% 12.26% -8.17% 7.86% 1.61% -31.96% 4.01% 4.78% -2.72% 1.59% -1.24%

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The performance data featured represents past performance, which is no guarantee of future results. Investment return and principal value of an investment will fluctuate; therefore, you may have a gain or loss when you sell your shares. Current performance may be higher or lower than the performance data quoted.

Quarter-End Average Annual Total Returns

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AS OF 9/30/2014; FUND INCEPTION 4/19/1993 Glossary definition opens in new window.

EXPENSE RATIO (GROSS):
1.08% AS OF 12/30/2013
1 Yr 3 Yr 5 Yr 10 Yr Life
Glossary definition opens in new window.Before Taxes
Fidelity® Emerging Asia Fund 10.86% 11.66% 7.71% 11.32% 7.48%
Glossary definition opens in new window.After Taxes on Distributions
Fidelity® Emerging Asia Fund 10.70% 11.44% 7.35% 10.81% 7.15%
Glossary definition opens in new window.After taxes on distributions and sale of fund shares
Fidelity® Emerging Asia Fund 6.56% 9.28% 6.15% 9.56% 6.44%

Read more about after-tax returns.

Cumulative Total Returns

 2 More Information
AS OF 9/30/2014
YTD (Daily)* YTD (Monthly) 1 Month 3 Months 6 Months
Fidelity® Emerging Asia Fund 7.11% 5.55% -5.19% -1.04% 6.14%
Fidelity® Emerging Asia Fund  (Load Adjusted) -- -- -6.61% -2.52% --
MS AC Asia exJpn (Net MA) -- 4.69% -5.88% -1.65% 5.45%
Fid Emerging Asia Linked -- 4.69% -5.88% -1.65% 5.45%
Pacific/Asia ex-Japan Stk -- 6.79% -4.26% -0.76% 4.91%
*AS OF 10/30/2014

Fund Risk and Return

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AS OF 9/30/2014; MORNINGSTAR CATEGORY: Pacific/Asia ex-Japan Stk
Risk of this Category Category Risk Rating:8, where 1 is Lower and 10 is Higher
LOWERHIGHER

Risk

Stock markets, especially foreign markets, are volatile and can decline significantly in response to adverse issuer, political, regulatory, market, or economic developments. Foreign securities are subject to interest rate, currency exchange rate, economic, and political risks, all of which are magnified in emerging markets. The risks are particularly significant for funds that focus on a single country or region.

Volatility Measures

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Beta 0.93
AS OF 9/30/2014

A measure of a portfolio's sensitivity to market movements (as represented by a benchmark index). The benchmark index, such as the S&P 500 or EAFE index, has a beta of 1.0. A beta of more (less) than 1.0 indicates that a fund's historical returns have fluctuated more (less) than the benchmark index. Beta is a more reliable measure of volatility when used in combination with a high R2 which indicates a high correlation between the movements in a fund's returns and movements in a benchmark index.

R2 0.90
AS OF 9/30/2014

A measurement of how closely the portfolio's performance correlates with the performance of a benchmark index, such as the S&P 500. R2 is a proportion which ranges between 0.00 and 1.00. An R2 of 1.00 indicates perfect correlation to the benchmark index, that is, all of the portfolio's fluctuations are explained by performance fluctuations of the index, while an R2 of 0.00 indicates no correlation. Therefore, the lower the R2, the more the fund's performance is affected by factors other than the market as measured by that benchmark index. An R2 value of less than 0.5 indicates that the Annualized Alpha and Beta are not reliable performance statistics.

Sharpe Ratio 0.79
AS OF 9/30/2014

The Sharpe ratio is a measure of historical adjusted performance calculated by dividing the fund's excess returns (fund's average monthly returns minus the average monthly return of the Salomon Smith Barney 3-Month T-Bill Index) by the standard deviation of those returns. The higher the ratio, the better the fund's return per unit of risk.

Standard Deviation 15.44
AS OF 9/30/2014

Statistical measure of how much a return varies over an extended period of time. The more variable the returns, the larger the standard deviation. Investors may examine historical standard deviation in conjunction with historical returns to decide whether an investment's volatility would have been acceptable given the returns it would have produced. A higher standard deviation indicates a wider dispersion of past returns and thus greater historical volatility. Standard deviation does not indicate how an investment actually performed, but it does indicate the volatility of its returns over time. Standard deviation is annualized. The returns used for this calculation are not load-adjusted.

Volatility measures are based on the variability of historical returns of the portfolio. In the case of annuity funds, this is before the effect of annuity charges. Relative Volatility, Beta, and R2 compare a portfolio's total return to those of a relevant market, represented by the benchmark index. Standard Deviation is calculated independent of an index.

Historical Fund Performance

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Current year's data as of: 9/30/2014
Year Total Returns Capital Gains Dividends Glossary definition opens in new window.Share Class Net Assets ($M)
2014 5.55% -- -- $1,099.17
2013 3.80% -- $0.387 $1,139.88
2012 20.90% $0.081 $0.456 $1,433.68
2011 -16.17% -- $0.513 $1,383.38
2010 22.78% $0.105 $0.485 $1,823.55
2009 39.20% $0.4 $0.427 $1,848.16
2008 -51.89% -- $0.195 $1,596.75
2007 55.39% $2.89 $0.28 $5,368.73
2006 37.19% $1.29 $0.23 $2,010.48
2005 33.56% $0.43 $0.26 $974.56

The "Mutual Funds" area at the top of each page allows access to mutual fund holdings with individual and joint Fidelity non-retirement accounts. Individual stock positions, ETFs and 529 funds are not available through this view. For the full list of your holdings visit Portfolio Summary.

Mutual Funds are priced as of the previous business day's market close when the market is open. Mutual fund positions are priced as of the official market close (typically 4p.m.) and prices are generally available between 5 p.m. and 6p.m.

The performance data featured represents past performance, which is no guarantee of future results. Investment return and principal value of an investment will fluctuate; therefore, you may have a gain or loss when you sell your shares. Current performance may be higher or lower than the performance data quoted.

Fund Characteristics and Attribution

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2013 Morningstar, Inc. All rights reserved. The Morningstar information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or redistributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Fidelity does not review the Morningstar data and, for fund performance, you should check the fund's current prospectus or other product materials for the most up-to-date information concerning applicable loads, fees and expenses.

Ratings

Morningstar Ratings

AS OF 09/30/2014; MORNINGSTAR CATEGORY: Pacific/Asia ex-Japan Stk
Overall
3 out of 5 stars
Out of 76 funds
3 Yr
3 out of 5 stars
Out of 76 funds
5 Yr
3 out of 5 stars
Out of 39 funds
10 Yr
3 out of 5 stars
Out of 23 funds

An overall rating for a fund is derived from a weighted average of the performance figures associated with its 3-, 5- and 10-year (if applicable) Morningstar Metrics as of the date stated. The number of funds in the Pacific/Asia ex-Japan Stk category tracked by Morningstar was 76 for the 3 year period and Overall Ranking; 39 for the 5 year period; and 23 for the 10 year period. Please click on the question mark above for additional Morningstar information.

Past performance is no guarantee of future results.

Lipper Ranking

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AS OF 9/30/2014; LIPPER PEER GROUP: Emerging Markets
1 Yr
#52 out of 672 funds
5 Yr
#34 out of 322 funds
10 Yr
#26 out of 151 funds

The fund is ranked based on total return. Each fund is ranked within a universe of funds with similar investment objectives. Rankings include the reinvestment of dividends and capital gains but exclude the effect of a fund's sales load, if applicable. Lipper Inc. is a nationally recognized organization that ranks the performance of mutual funds.

Past performance is no guarantee of future results.

Watch a brief video to learn about using the new mutual fund library to evaluate funds

The "Mutual Funds" area at the top of each page allows access to mutual fund holdings with individual and joint Fidelity non-retirement accounts. Individual stock positions, ETFs and 529 funds are not available through this view. For the full list of your holdings visit Portfolio Summary.

Mutual Funds are priced as of the previous business day's market close when the market is open. Mutual fund positions are priced as of the official market close (typically 4p.m.) and prices are generally available between 5 p.m. and 6p.m.

2013 Morningstar, Inc. All rights reserved. The Morningstar information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or redistributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Fidelity does not review the Morningstar data and, for fund performance, you should check the fund's current prospectus or other product materials for the most up-to-date information concerning applicable loads, fees and expenses.

Composition

Major Market Sectors for Equities

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AS OF 9/30/2014
Portfolio Weight
Financials 31.50%
Information Technology 22.14%
Consumer Discretionary 11.85%
Industrials 7.74%
Telecommunication Services 6.39%
Materials 5.17%
Utilities 5.10%
Consumer Staples 3.96%
Energy 3.79%
Health Care 2.02%
Other 0.00%

Asset Allocation

 6 More Information
AS OF 9/30/2014
Fund
International Equities 98.94%
Emerging Markets 97.30%
Developed Markets 1.64%
Tax Advantaged Domiciles 0.00%
Domestic Equities 0.73%
Bonds 0.00%
Cash & Net Other Assets 0.33%

"Tax-Advantaged Domiciles" represent countries whose tax policies may be favorable for company incorporation.

Net Other Assets can include fund receivables, fund payables, and offsets to other derivative positions, as well as certain assets that do not fall into any of the Portfolio Composition categories. Depending on the extent to which the fund invests in derivatives and the number of positions that are held for future settlement, Net Other Assets can be a negative number.

The percent of net assets invested in both domestic and foreign Equities (common stocks, preferred stocks, rights and warrants, convertible preferred stocks and stock index futures and options), Bond (all debt instruments, including investment grade, non-investment grade, non-rated securities and convertible bonds), and Cash & Net Other Assets (cash, repurchase agreements, receivables and payables).

Top 10 Holdings

 6 More Information
AS OF 9/30/2014
SAMSUNG ELECTRONICS CO LTD
TAIWAN SEMICONDUCT MFG CO LTD
TENCENT HOLDINGS LIMITED
CHINA CONSTRUCTION BANK CORP H
HON HAI PRECISION IND CO LTD
BANK OF CHINA LTD H
PETROCHINA CO LTD H
HYUNDAI MOTOR CO
AIA GROUP LTD
UNITED OVERSEAS BANK (LOC)
% of Total Portfolio 23.54%
Total # of holdings: 247 as of 9/30/2014
Total # of issuers: 247 as of 9/30/2014

Historical Fund Information

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Name Change: Fomerly Fidelity Southeast Asia Fund 4/19/1993  - 11/30/2010

Regional Diversification

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AS OF 9/30/2014
Emerging Asia
98.86%
Developed Markets
0.98%
Latin America
0.10%
Middle East
0.06%
Emerging Europe
0.00%
Africa
0.00%
Other
0.00%

Country Diversification

 6 More Information
AS OF 9/30/2014
China
26.14%
Korea (South)
18.08%
Hong Kong
15.85%
India
11.56%
Taiwan
11.51%
Singapore
5.30%
Thailand
3.84%
Malaysia
3.03%
Philippines
1.84%
Indonesia
1.70%
Japan
1.19%

Currency Diversification

 6 More Information
AS OF 9/30/2014
Hong Kong Dollar
39.06%
South Korean Won
18.08%
New Taiwan Dollar
11.51%
Indian Rupee
11.41%
Singapore Dollar
6.07%
Thailand Thaibaht
3.13%
Malaysian Ringgit
3.03%
US Dollar
2.42%
Philippine Peso
1.84%
Indonesian Rupiah
1.70%
Japanese Yen
1.19%
UK Pound
0.38%
Australian Dollar
0.10%
Norwegian Krona
0.07%
Chinese Yuan
0.01%

Fund Facts

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Fiscal Year End
October
Fund Inception
4/19/1993
Fund Number
351
Fund Symbol
FSEAX
Order Cutoff Time
04:00 PM EST

The "Mutual Funds" area at the top of each page allows access to mutual fund holdings with individual and joint Fidelity non-retirement accounts. Individual stock positions, ETFs and 529 funds are not available through this view. For the full list of your holdings visit Portfolio Summary.

Mutual Funds are priced as of the previous business day's market close when the market is open. Mutual fund positions are priced as of the official market close (typically 4p.m.) and prices are generally available between 5 p.m. and 6p.m.

Browse Our Proxy Voting Results

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2013 Morningstar, Inc. All rights reserved. The Morningstar information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or redistributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Fidelity does not review the Morningstar data and, for fund performance, you should check the fund's current prospectus or other product materials for the most up-to-date information concerning applicable loads, fees and expenses.

Fees and Distributions

Expenses & Fees

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1.08%
($10.80 per $1000)
12/30/2013
1.08%
($10.80 per $1000)
12/30/2013
Distribution and/or service fee(12b-1) Fees
0.00%
Short-Term Redemption Fee
1.50%
Short-Term Redemption Period
90 Days
Small Balance Fee 8

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See prospectus for more information on Fees, Expenses & Loads.

Minimums

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Initial Investment
$2,500.00
Additional Investment
$0.00
Initial IRA Investment
$2,500.00
Additional IRA Investment
$0.00
Initial Group Retirement Investment 5
$500.00
Additional Group Retirement Investment
$0.00
Required Balance
$2,000.00

Features

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Retirement Accounts
yes
Check Writing
no
Direct Deposit
yes
Automatic Account Builder
yes
Max Exchange Redemptions in a Year
yes
Simple IRA
yes

Distribution

Dividend History

Date Per Share Amount Reinvestment Price
12/06/13 $0.387 $30.63
12/07/12 $0.456 $29.10
12/02/11 $0.513 $26.46
12/03/10 $0.485 $29.97

Capital Gains History

Date Per Share Amount Reinvestment Price
12/07/12 $0.081 $29.10
12/03/10 $0.105 $29.97
12/04/09 $0.4 $25.13
12/07/07 $2.89 $40.91

Pricing

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AS OF 9/30/2014
NAV
$32.82
10/30/2014
12 Month Low-High
$28.46 - $34.48
Monthly Low-High
$32.34 - $34.48
On 9/30/2014
$32.34

Price History By Month

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Actual Values: Sep. 2014 to Sep. 2013

Close Low High
Sep $32.34 $32.34 $34.48
Aug $34.11 $33.23 $34.30
Jul $33.57 $32.83 $34.05
Jun $32.68 $31.92 $32.68
May $31.95 $30.29 $32.02
Apr $30.41 $30.41 $31.24
Mar $30.47 $29.31 $30.61
Feb $30.38 $28.46 $30.38
Jan $29.10 $28.85 $30.32
Dec $30.64 $29.97 $31.17
Nov $31.08 $29.87 $31.12
Oct $30.91 $29.70 $31.24
Sep $29.54 $28.21 $30.45

The "Mutual Funds" area at the top of each page allows access to mutual fund holdings with individual and joint Fidelity non-retirement accounts. Individual stock positions, ETFs and 529 funds are not available through this view. For the full list of your holdings visit Portfolio Summary.

Mutual Funds are priced as of the previous business day's market close when the market is open. Mutual fund positions are priced as of the official market close (typically 4p.m.) and prices are generally available between 5 p.m. and 6p.m.

1. No Transaction Fee Fidelity funds are available without paying a trading fee to Fidelity or a sales load to the fund. However, the fund may charge a short-term trading or redemption fee to protect the interests of long-term shareholders of the fund. Shares are subject to the fund's management and operating expenses. See Expenses & Fees for more information.

2. Total returns are historical and include change in share value and reinvestment of dividends and capital gains, if any. Cumulative total returns are reported as of the period indicated. Life of fund figures are reported as of the commencement date to the period indicated and are cumulative if the fund is less than one year old. Total returns do not reflect the fund's [%] sales charge. If sales charges were included, total returns would have been lower.

3. The Morningstar Category Average is the average return for the peer group based on the returns of each individual fund within the group, for the period shown. This average assumes reinvestment of dividends.

4. This chart illustrates the performance of a hypothetical $10,000 investment made in this investment product (and a benchmark or category average, if shown) from the beginning date shown or on the inception date of the product (whichever is later). The inception date used for products with underlying funds, or multiple shares classes, or are offered as a separate account, strategy or sub account, may be the inception date of the underlying fund, the earliest share class of the product, or the date composite performance for the product was first made available. The product's returns may not reflect all its expenses. Any fees not reflected would lower the returns. Benchmark returns include reinvestment of capital gains and dividends, if any, but do not reflect any fees or expenses. It is not possible to invest in an index. Past performance is no guarantee of future results. This chart is not intended to imply any future performance of the investment product.

5. Initial minimum investments into group retirement accounts such as Fidelity Simplified Employee Pension-IRA, Keogh, Self-Employed 401(k), and Non-Fidelity Prototype Retirement accounts are $500 or higher. There is no minimum for additional investments in any type of Fidelity fund you already own.

6. Any holdings, asset allocation, diversification breakdowns or other composition data shown are as of the date indicated and are subject to change at any time. They may not be representative of the fund's current or future investments. The Top Ten holdings do not include money market instruments or futures contracts, if any. Depository receipts are normally combined with the underlying security. Some breakdowns may be intentionally limited to a particular asset class or other subset of the fund's entire portfolio, particularly in multi-asset class funds where the attributes of the equity and fixed income portions are different.

Under the asset allocation section, international (or foreign) assets may be reported differently depending on how an investment option reports its holdings. Some do not report international (or foreign) holdings here, but instead report them in a "Regional Diversification" section. Some report them in this section in addition to the equity, bond and other allocation shown. Others report international (or foreign) holding as a subset of the equity and bond allocations shown. If the allocation without the foreign component equals (or rounds to) 100%, then international (or foreign) is a subset of the equity and bond percentage shown.

7. Percent Rank in Category is the fund's total-return percentile rank relative to all funds that have the same Morningstar Category. The highest (or most favorable) percentile rank is 1 and the lowest (or least favorable) percentile rank is 100. The top-performing fund in a category will always receive a rank of 1. % Rank in Category is based on total returns which include reinvested dividends and capital gains, if any, and exclude sales charges.

8. Fidelity may deduct a small balance maintenance fee of $12.00 from a fund balance with a value less than $2,000. Fund positions opened after September 30 will not be subject to the fee for that calendar year. This fee will not be deducted from fund positions opened after January 1 of that calendar year if those positions use regular investment plans. Refer to the fund prospectus for details.

Generally, data on Fidelity mutual funds is provided by FMR, LLC, Morningstar ratings and data on non-Fidelity mutual funds is provided by Morningstar, Inc. and data on non-mutual fund products is provided by the product's investment manager, trustee or issuer or the plan sponsor whose plan is offering the product to participants. Although Fidelity believes the data gathered from these third-party sources is reliable, it does not review such information and cannot warrant it to be accurate, complete or timely. Fidelity is not responsible for any damages or losses arising from any use of this third-party information.

Before investing, consider the investment objectives, risks, charges and expenses of the fund or annuity and its investment options. Contact Fidelity for a free prospectus and, if available, summary prospectus containing this information. Read it carefully.