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Fidelity® Strategic Real Return Fund

  • Symbol: FSRRX
  • No Transaction Fee No Transaction Fee 1

Morningstar® Snapshot*

AS OF 02/28/2015; MORNINGSTAR CATEGORY: Conservative Allocation
Returns 1 out of 5, Low Returns
Expenses 2 out of 5, Below Average Fees
Risk of this Category Category Risk Rating:4, where 1 is Lower and 10 is Higher

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


 2 More Information
AS OF 2/28/2015
Average Annual Returns
YTD (Daily)* 1 Yr 3 Yr 5 Yr Life
YTD (Daily)* +0.33% 1 Yr -1.52% 3 Yr +1.47% 5 Yr +4.65% Life of Fund +3.30%
*AS OF 3/27/2015; Value is cumulative

Hypothetical Growth of $10,000

 3, 4 More Information
AS OF 02/28/2015; MORNINGSTAR CATEGORY: Conservative Allocation
Shows growth of hypothetical $10,000 investment in Fidelity® Strategic Real Return Fund compared to Barclays US TIPS,FID Strat Rl Rtn Comp Idx,Conservative Allocation over the selected time period
Fidelity® Strategic Real Return Fund
Conservative Allocation

Compare Chart| Fund Facts Search

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)

More Information
Ford E O'Neil since 6/1/2012 Franco Castagliuolo since 3/1/2012 Joanna Bewick since 4/1/2008 Samuel Wald since 9/29/2006 Mark P Snyderman since 9/7/2005 Bill W Irving since 9/7/2005

Fund Overview


Seeks real return consistent with reasonable investment risk.


Allocating the fund's assets among four general investment categories, using a neutral mix of approximately 30% inflation-protected debt securities, 25% floating-rate loans, 25% commodity-linked derivative instruments and related investments, and 20% REITs and other real estate related investments. Investing in domestic and foreign issuers. Analyzing a security's structural features and current pricing, its issuer's potential for success, and the credit, currency, and economic risks of the security and its issuer to select investments. Using fundamental analysis of factors such as each issuer's financial condition and industry position, as well as market and economic conditions, to select investments. Investing in Fidelity's central funds (specialized investment vehicles used by Fidelity funds to invest in particular security types or investment disciplines).


Stock markets, particularly foreign markets, are volatile and can be affected by adverse issuer, political, regulatory, market, or economic developments. Floating rate loans may not be fully collateralized and therefore may decline significantly in value. A floating rate loan may not be fully collateralized which may cause the loan to decline significantly in value. A floating rate loan is generally subject to restrictions on resale. Difficulty in selling a floating rate loan may result in a loss. Interest rate increases can cause the price of a debt security to decrease. Increases in real interest rates can cause the price of inflation-protected debt securities to decrease. Foreign securities are subject to interest rate, currency exchange rate, economic, and political risks. Changes in real estate values or economic downturns can have a significant negative effect on issuers in the real estate industry. Lower-quality bonds can be more volatile and have greater risk of default than higher-quality bonds. Commodity-linked investments can be more volatile and less liquid than the underlying instruments or measures and their value may be affected by the performance of the overall commodities baskets as well as weather, tax, and other regulatory developments. Leverage can increase market exposure and magnify investment risks.

Additional Disclosures

A mutual fund registered under Fidelity Salem Street 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.


More Information
Morningstar Category Conservative Allocation
Fund Inception 9/7/2005
Glossary definition opens in new window.Exp Ratio (Gross)
($7.70 per $1000)
Glossary definition opens in new window.Exp Ratio (Net)
($7.70 per $1000)
Redemption Fee 0.75%
Redemption Period 60 days
Minimum to Invest 5 $2,500.00
Turnover Rate
Glossary definition opens in new window.Portfolio Net Assets ($M)
Glossary definition opens in new window.Share Class Net Assets ($M)
12 Month Low-High
$9.04 - $9.78

Chart Fund Price (NAV)


A conversation about Fidelity Strategic Real Return Fund with Joanna Bewick.

Watch the video (3:08)

Fixed Income

More Information
30-Day Yield 6, 7

Top 5 Issuers

 8 More Information
AS OF 12/31/2014
Top 5 Issuers
% of Total Portfolio 53.11%
out of 722 holdings

Quarter-End Average Annual Total Returns

 3, 2 More Information
AS OF 12/31/2014; FUND INCEPTION 9/7/2005 Glossary definition opens in new window.

0.77% AS OF 11/29/2014
1 Yr 3 Yr 5 Yr 10 Yr Life
Glossary definition opens in new window.Before Taxes
Fidelity® Strategic Real Return Fund 1.13% 2.29% 4.40% -- 3.24%
Barclays US TIPS 3.64% 0.44% 4.11% 4.37% 4.42%
FID Strat Rl Rtn Comp Idx 1.05% 1.57% 4.11% -- 3.24%
Conservative Allocation 4.02% 7.10% 6.84% 4.85% --
Glossary definition opens in new window.After Taxes on Distributions
Fidelity® Strategic Real Return Fund 0.47% 1.60% 3.61% -- 2.21%
Conservative Allocation 1.26% 5.40% 5.38% 3.49% --
Glossary definition opens in new window.After taxes on distributions and sale of fund shares
Fidelity® Strategic Real Return Fund 1.07% 1.77% 3.38% -- 2.41%
Conservative Allocation 1.92% 4.77% 4.76% 3.32% --

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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.

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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. 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. 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".

7. The fund's yield will include adjustments to the principal value of Treasury Inflation-Protected Securities (TIPS) due to changes in the government's inflation rate. Because of these inflation adjustments, the fund's yield may be more volatile than yields quoted on nominal (non-inflation adjusted) bond investments. The fund may experience negative yields during periods of deflation and high yields during periods of inflation that may not be repeated.

8. 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.

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: Conservative Allocation
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