Fund Description

The fund primarily invests at least 80% of its assets in equity securities that are part of the Fidelity International Low Volatility Focus IndexSM, which represents a broad range of equities across developed markets known for their lower volatility compared to the wider foreign developed equity markets. The selection of equities is based on a universe consisting of the largest developed international equities, adhering to specific liquidity and investability criteria. The index employs a rules-based proprietary methodology to rank equities by assessing their 5-year standard deviation of price returns and 5-year beta. Also, the fund includes derivative instruments to provide investment exposure consistent with its investment policies, alongside earning income through securities lending.