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Spartan® U.S. Bond Index Fund - Fidelity Advantage Class

  • Symbol: FSITX
  • No Transaction Fee No Transaction Fee 1
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Morningstar® Snapshot*

AS OF 3/31/2014; MORNINGSTAR CATEGORY: Intermediate-Term Bond
Overall Rating Not available
Not Available
Returns Not available
Not Available
Expenses 1 out of 5, Low Fees
LOWAVGHIGH
Risk of this Category Category Risk Rating:3, where 1 is Lower and 10 is Higher
LOWERHIGHER

*All data provided by Morningstar. Please click on each indicator above to learn more about comparison groups and methodology.

Performance

2 More Information
AS OF 3/31/2014 ; *YTD AS OF 4/23/2014
YTD (Daily)* 1 Yr 3 Yr 5 Yr 10 Yr
YTD (Daily)* +2.48% 1 Yr -0.36% 3 Yr +3.66% 5 Yr +4.64% 10 Yr +4.13%

Hypothetical Growth of $10,000

3, 4 More Information
AS OF 03/31/2014; MORNINGSTAR CATEGORY: Intermediate-Term Bond
Shows growth of hypothetical $10,000 investment in Spartan® U.S. Bond Index Fund - Fidelity Advantage Class compared to Barclays U.S. Agg Bond,Intermediate-Term Bond over the selected time period
Spartan® U.S. Bond Index Fund - Fidelity Advantage Class
Intermediate-Term Bond

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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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Alan Bembenek since 3/1/2012 Curt Hollingsworth since 2/1/2009

Fund Overview

Objective

Seeks to provide investment results that correspond to the aggregate price and interest performance of the debt securities in the Barclays U.S. Aggregate Bond Index.

Strategy

Normally investing at least 80% of the fund's assets in bonds included in the Barclays U.S. Aggregate Bond Index. Using statistical sampling techniques based on duration, maturity, interest rate sensitivity, security structure, and credit quality to attempt to replicate the returns of the Index using a smaller number of securities. Engaging in transactions that have a leveraging effect on the fund, including investments in derivatives - such as swaps (interest rate, total return, and credit default) and futures contracts - and forward-settling securities, to adjust the fund's risk exposure. Investing in Fidelity's central funds (specialized investment vehicles used by Fidelity funds to invest in particular security types or investment disciplines).

Risk

In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible. Foreign securities are subject to interest rate, currency exchange rate, economic, and political risks. The fund can invest in securities that may have a leveraging effect (such as derivatives and forward-settling securities) which may increase market exposure, magnify investment risks, and cause losses to be realized more quickly.

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.

The Barclays U.S. Aggregate Bond Index is an unmanaged market value-weighted index for U.S. dollar denominated investment-grade fixed-rate debt issues, including government, corporate, asset-backed, and mortgage-backed securities with maturities of at least one year.

On May 10, 2011, an initial offering of the Fidelity Advantage Share Class took place. Returns prior to that date are those of the Investor Class and reflect the Investors Class' expense ratio. Had the Fidelity Advantage Class' expense ratio been reflected, total returns would have been higher.

Fidelity is voluntarily reimbursing a portion of the fund's expenses. If Fidelity had not, the returns would have been lower.

Details

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Morningstar Category Intermediate-Term Bond
Fund Inception 3/8/1990
NAV
4/23/2014
$11.55
30-Day Yield 5
4/22/2014
2.23%
Weighted Avg MaturityGlossary definition opens in new window.
3/31/2014
6.9 years
DurationGlossary definition opens in new window.
3/31/2014
5.35 years
Exp Ratio (Gross)Glossary definition opens in new window.
10/30/2013
0.17%
($1.70 per $1000)
Exp Ratio (Net)Glossary definition opens in new window.
10/30/2013
0.10%
($1.00 per $1000)
Exp Cap (Dated) 6
1/1/2013
0.10%
($1.00 per $1000)
Minimum to Invest 7 $10,000.00
Turnover Rate
2/28/2014
75%
Net Assets ($M)
3/31/2014
$5,241.33
12 Month Low-High
3/31/2014
$11.24 - $11.92

Top 5 Issuers

8 More Information
AS OF 3/31/2014
Top 5 Issuers
UNITED STATES TREASURY
FNMA GTD MTG PASS THRU CTF
GNMA II
FED HOME LOAN MTG CORP - GOLD
GNMA GUARANTEED PASS THRU CERT
% of Total Portfolio 66.22%
out of 1283 holdings

Quarter-End Average Annual Total Returns

3, 2 More Information
AS OF 3/31/2014; *FUND INCEPTION 3/8/1990

EXPENSE RATIO (GROSS):Glossary definition opens in new window.
0.17% AS OF 10/30/2013
1 Yr 3 Yr 5 Yr 10 Yr Life of Fund*
Before TaxesGlossary definition opens in new window.
Spartan® U.S. Bond Index Fund - Fidelity Advantage Class -0.36% 3.66% 4.64% 4.13% 6.53%
After Taxes on DistributionsGlossary definition opens in new window.
Spartan® U.S. Bond Index Fund - Fidelity Advantage Class -1.38% 2.57% 3.49% 2.73% 4.35%
After taxes on distributions and sale of fund sharesGlossary definition opens in new window.
Spartan® U.S. Bond Index Fund - Fidelity Advantage Class -0.21% 2.43% 3.20% 2.69% 4.26%

Read more about after-tax returns.

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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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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.

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. 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. Expense Cap is a limit that the fund company has placed on the level of the expenses borne by the fund until 10/31/2014 and indicates the maximum level of expenses (with certain exceptions) that the fund would be paying until that time. After the expiration date, the expense cap may be terminated or revised, which may lower the fund's yield and return.

7. 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.

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.