Fidelity Extended Market Index Fund’s index construction leads to an unintentional but persistent growth tilt, which has landed the fund in the mid-cap growth Morningstar Category. As the strategy does not deliberately target growth stocks, we have downgraded its Process Pillar rating to Average from Above Average. As a result, we have downgraded its Morningstar Analyst Rating to Bronze from Silver. This reflects our confidence in its ability to outperform new category peers in the long run, despite its roundabout growth bias.
Fidelity® Extended Market Index FSMAX
NAV / 1-Day Return
91.28
/
0.07
%
Total Assets
41.1 Bil
Adj. Expense Ratio
Adjusted Expense Ratio excludes certain variable investment-related expenses, such as interest from borrowings and dividends on borrowed securities, allowing for more consistent cost comparisons across funds.
0.035%
Expense Ratio
0.035%
Fee Level
Low
Longest Manager Tenure
12.76
years
Category
Mid-Cap Growth
Investment Style
Mid GrowthMin. Initial Investment
0
Status
Open
TTM Yield
0.86%
Turnover
26%
Premium
Morningstar’s Analysis
The Morningstar Analysis section contains a thorough evaluation of an investment’s merits and drawbacks and often discusses the most important or decisive factors leading to the fund’s overall rating.
The Morningstar Analysis section contains a thorough evaluation of an investment’s merits and drawbacks and often discusses the most important or decisive factors leading to the fund’s overall rating.
Will FSMAX outperform in future?
Get our overall rating based on a fundamental assessment of the pillars below.
Process Pillar
The Process Pillar is our assessment of how sensible, clearly defined, and repeatable FSMAX’s performance objective and investment process is for both security selection and portfolio construction.
People Pillar
The People Pillar is our evaluation of the FSMAX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.
Parent Pillar
The Parent Pillar is our rating of FSMAX’s parent organization’s priorities and whether they’re in line with investors’ interests.
New category, new ratings.
