Fund Description

The fund primarily invests at least 80% of its assets in equity securities that are part of the Fidelity U.S. Quality Focus Index, which aims to reflect the performance of a diverse range of U.S. equities with appealing quality scores. These scores for non-financial companies and non-real estate investment trusts are derived from ten specific variables, including high free cash flow margin and stable earnings growth. For financials and real estate investment trusts, a composite score evaluates four measures of quality. The fund employs statistical sampling techniques to mirror the returns of the Fidelity U.S. Quality Focus Index, while also engaging in securities lending to generate additional income.