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Selected American Shares Fund Class D

  • Symbol: SLADX
  • Transaction Fee/Load Transaction Fee/Load 1  See Fidelity Fund Picks for no transaction fee alternatives

Average Annual Total Returns

 2, 3, 4 More Information
AS OF 2/28/2015; FUND INCEPTION 2/28/1933
1 Yr 3 Yr 5 Yr 10 Yr Life
Selected American Shares Fund Class D 8.56% 15.14% 12.71% 6.62% 7.15%
S&P 500 15.51% 18.00% 16.18% 7.99% 8.24%
Large Blend 12.74% 16.41% 14.57% 7.28% --
Rank in Morningstar Category 87% 74% 84% 77% --
# of Funds in Morningstar Category 1558 1336 1187 815 --

Life value above represents the life of the share class starting 5/3/2004.


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30-Day Yield 5 0.57%

Hypothetical Growth of $10,000

 3, 6 More Information
AS OF 02/28/2015; MORNINGSTAR CATEGORY: Large Blend
Selected American Shares Fund Class D
Large Blend
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
This Fund 10.19% 15.59% 5.11% -39.24% 32.06% 12.90% -4.02% 13.19% 33.62% 5.96% 3.78%
Benchmark 4.91% 15.79% 5.49% -37.00% 26.46% 15.06% 2.11% 16.00% 32.39% 13.69% 2.57%
Category 5.88% 14.17% 6.16% -37.79% 28.17% 14.01% -1.27% 14.96% 31.50% 10.96% 2.52%
+/- Benchmark 5.28% -0.20% -0.38% -2.24% 5.60% -2.16% -6.13% -2.81% 1.23% -7.73% 1.21%
+/- Category 4.31% 1.42% -1.05% -1.45% 3.89% -1.11% -2.75% -1.77% 2.12% -5.00% 1.26%

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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 12/31/2014; FUND INCEPTION 2/28/1933 Glossary definition opens in new window.

0.61% AS OF 5/1/2014
1 Yr 3 Yr 5 Yr 10 Yr Life
Glossary definition opens in new window.Before Taxes
Selected American Shares Fund Class D 5.96% 17.02% 11.67% 6.43% 6.89%
S&P 500 13.69% 20.41% 15.45% 7.67% 8.12%
Large Blend 10.96% 19.00% 13.88% 7.02% --
Glossary definition opens in new window.After Taxes on Distributions
Selected American Shares Fund Class D 0.98% 13.87% 9.78% 5.43% 5.91%
Large Blend 7.62% 17.03% 12.57% 5.99% --
Glossary definition opens in new window.After taxes on distributions and sale of fund shares
Selected American Shares Fund Class D 7.44% 13.39% 9.31% 5.19% 5.58%
Large Blend 6.56% 14.34% 10.69% 5.34% --

Life value above represents the life of the share class starting 5/3/2004.

Cumulative Total Returns

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AS OF 2/28/2015
YTD (Daily)* YTD (Monthly) 1 Month 3 Months 6 Months
Selected American Shares Fund Class D 1.72% 3.78% 7.06% 2.39% 3.68%
S&P 500 -- 2.57% 5.75% 2.31% 6.12%
Large Blend -- 2.52% 5.67% 2.19% 4.77%
*AS OF 3/27/2015

Fund Risk and Return

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AS OF 2/28/2015; MORNINGSTAR CATEGORY: Large Blend
Risk of this Category Category Risk Rating:6, where 1 is Lower and 10 is Higher


Value and growth stocks can perform differently from other types of stocks. Growth stocks can be more volatile. Value stocks can continue to be undervalued by the market for long periods of time. Stock markets are volatile and can decline significantly in response to adverse issuer, political, regulatory, market, economic or other developments. These risks may be magnified in foreign markets. Additional risk information for this product may be found in the prospectus or other product materials, if available.

Volatility Measures

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Beta 1.03
AS OF 12/31/2014

A measure of a portfolio's sensitivity to market movements (as represented by a benchmark index). The benchmark 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 0.92
AS OF 12/31/2014

A measurement of how closely the portfolio's performance correlates with the performance of the fund's primary benchmark index or equivalent. 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 1.41
AS OF 2/28/2015

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 10.36
AS OF 2/28/2015

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

 4 More Information
Current year's data as of: 2/28/2015
Year Total Returns Capital Gains Dividends Glossary definition opens in new window.Share Class Net Assets ($M)
2015 3.78% -- -- $3,527.51
2014 5.96% $9.683446 $0.398554 $3,680.15
2013 33.62% $4.275 $0.648 $3,958.52
2012 13.19% -- -- $3,374.65
2011 -4.02% -- -- $3,518.74
2010 12.90% -- -- $3,942.03
2009 32.06% -- -- $3,644.40
2008 -39.24% -- -- $2,880.48
2007 5.11% -- -- $5,017.90
2006 15.59% -- -- $4,405.80

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.

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2015 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.

1. Transaction Fee:

A transaction fee is similar to a brokerage fee or commission which you pay when you buy or sell a stock. For some funds available through Fidelity you are required to pay a transaction fee. However, you will not pay a sales load on Transaction Fee (TF) funds. You will only be charged a transaction fee when you buy a FundsNetwork TF fund, not when you sell one. All other fees and expenses described in a fund's prospectus still apply. You can choose to buy or sell shares directly from the fund itself or its principal underwriter or distributor without paying a transaction fee to Fidelity.

Online Transaction Fees: $49.95 for most funds. Certain funds will have a transaction fee of $75. To identify any applicable transaction fees associated with the purchase of a given fund, please refer to the "Fees and Distributions" tab.

Fidelity Automated Service Telephone (FAST): 25% off representative-assisted rates, Maximum: $187.50, Minimum:$75
Representative-Assisted: 0.75% of principal, Maximum: $250, Minimum: $100
Automatic Investment: $5 per transaction, after the initial investment.

Sales load:

A sales charge added to the price of the fund. Funds have different sales charge structures, including front-end loads, back-end loads (deferred), and no loads. Sales loads can either be charged when a fund is purchased, commonly known as a front-end load, or when a fund is sold, known as a deferred load. Not all funds charge a load. Refer to the Loads, Expense and Minimums section of the fund's prospectus for details on these amounts. Although no load funds do not have a front-end or deferred load, they may incur other fees, such as a 12b-1 fee.

2. 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.

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. 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.
Except for Life of Fund returns, the analysis on these pages may be based, in part, on adjusted historical returns for periods prior to the class's actual inception of 5/3/2004. These calculated returns reflect the historical performance of the oldest share class of the fund, with an inception date of 2/28/1933, adjusted to reflect the fees and expenses of this share class (when this share class's fees and expenses are higher.) Please refer to a fund's prospectus for information regarding fees and expenses. These adjusted historical returns are not actual returns. Calculation methodologies utilized by Morningstar may differ from those applied by other entities, including the fund itself.

5. A standard yield calculation developed by the Securities and Exchange Commission for bond funds. The yield is calculated by dividing the net investment income per share earned during the 30-day period by the maximum offering price per share on the last day of the period. The yield figure reflects the dividends and interest earned during the 30-day period, after the deduction of the fund's expenses. It is sometimes referred to as "SEC 30-Day Yield" or "standardized yield".

6. 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.

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.

Morningstar Category: Large Blend
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