Fidelity ZERO International Index Fund (FZILX)

The Fidelity ZERO International Index Fund is an open-end mutual fund that aims to provide investment results corresponding to the total return of foreign developed and emerging stock markets. The fund tracks the Fidelity Global ex U.S. Index, which is a float-adjusted, market capitalization-weighted index reflecting the performance of large- and mid-cap stocks outside the United States. By employing a representative sampling strategy, the fund invests primarily in equities across diverse sectors and regions, maintaining broad exposure to companies in Europe, Asia, and other global markets. Notable holdings include companies such as Taiwan Semiconductor Manufacturing, Tencent Holdings, and Nestle, covering technology, consumer defensive, and communication services industries. Characterized by its zero expense ratio and no minimum investment requirement, the fund is particularly distinguished for offering cost efficiency compared to industry peers. With a large asset base and low portfolio turnover, the Fidelity ZERO International Index Fund serves as a foundational option for investors seeking diversified, low-cost international equity exposure, and plays a significant role in broad market index investing outside the U.S..