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Morningstar

Fidelity® Extended Market Index FSMAX

Morningstar Analyst Rating
Analyst rating as of | See Fidelity Investment Hub
  • NAV / 1-Day Return 71.51  /  1.03 %
  • Total Assets 32.8 Bil
  • Adj. Expense Ratio
    0.030%
  • Expense Ratio 0.035%
  • Distribution Fee Level Low
  • Share Class Type No Load
  • Category Mid-Cap Blend
  • Investment Style Small Blend
  • Min. Initial Investment 0
  • Status Open
  • TTM Yield 1.24%
  • Turnover 18%

USD | NAV as of Feb 07, 2023 | 1-Day Return as of Feb 07, 2023, 11:16 PM GMT+00:00

Morningstar’s Analysis FSMAX

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.

A perfect complement to round out the S&P 500.

Analyst

Summary

| by Lan Anh Tran

Although Fidelity Extended Market Index Fund exhibits an unintentional but persistent growth tilt, we recognize its utility for investors as a portfolio building block alongside an S&P 500-tracking fund. The fund’s broadly diversified, low-turnover, and low-fee portfolio deliver on this objective, warranting a Process upgrade to Above Average from Average. Consequently, it earns a Morningstar Analyst Rating upgrade to Silver from Bronze.

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