Fidelity SAI Small-Mid Cap Momentum Index Fund (FZFLX)

Fidelity SAI Small-Mid Cap 500 Index Fund is a passively managed mutual fund designed to track the performance of a broad index comprising 500 U.S. small- and mid-capitalization stocks. Its primary function is to offer investors diversified exposure to the dynamic segments of the market that include companies typically characterized by high growth potential and moderate risk profiles. The fund spans a wide range of industries, reflecting the varied nature of its underlying index, and includes holdings in sectors such as energy, industrials, consumer cyclical, utilities, and financial services. Notably, the fund maintains a low expense ratio, making it cost-effective relative to many peers, and it employs a no-load structure, further reducing investment costs for shareholders. With over $1.3 billion in assets and a turnover rate of approximately 31%, the fund is structured to efficiently mirror index movements while minimizing trading costs. Its diversified composition and passive management make it a significant tool for investors seeking broad access to the U.S. small- and mid-cap equity space within their portfolios.