Fund Evaluator:

Fidelity 500 Index Overview

Fidelity 500 Index (FXAIX) is a passively managed U.S. Equity Large Blend fund. Fidelity Investments launched the fund in 2011.

The investment seeks to provide investment results that correspond to the total return performance of common stocks publicly traded in the United States. The fund is normally investing at least 80% of assets in common stocks included in the S&P 500® Index. The S&P 500 ® Index is a market capitalization-weighted index of 500 common stocks that represents the performance of the large-capitalization segment of the U.S. market.

About Fidelity 500 Index (FXAIX)

There are 5 members of the management team with an average tenure of 10.92 years: Louis Bottari (2009), Payal Gupta (2019), Peter Matthew (2012), Navid Sohrabi (2019), Robert Regan (2016). Management tenure is more important for actively managed funds than passive index funds.

The fund has 1 primary benchmark: S&P 500 (TR) (1970) index with a weighting of 100%. Fidelity 500 Index has 508 securities in its portfolio. The top 10 holdings constitute 39.2% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.

Fidelity 500 Index is part of the Equity global asset class and is within the U.S. Equity fund group. Fidelity 500 Index has 0.4% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 99.6%. There is 0.4% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Fidelity 500 Index has 0.0% of the portfolio in cash.

Assets Under Management

The fund has $827 billion in total assets, which is above the $6 billion average for the Large Blend category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.

FXAIX Performance and Fees

The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Fidelity 500 Index expense ratio is low compared to funds in the Large Blend category. Fidelity 500 Index has an expense ratio of 0.02%, which is 98% lower than its category average, making the fund expense ratio grade a A. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.

High portfolio turnover can translate to higher expenses and lower aftertax returns. Fidelity 500 Index has a portfolio turnover rate of 3%, indicating that holds its assets around 0.3 years. By way of comparison, the average portfolio turnover is 48% for the Large Blend category.

Recently, in the month of June 2026, Fidelity 500 Index returned -1.0%, which earned it a grade of D, as the Large Blend category had an average return of -0.2%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.

Fidelity 500 Index has a trailing yield of 1.04%, which is above the 0.56% category average. The fund normally distributes its income quarterly and its capital gains annually.

It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.

Fidelity 500 Index Grades

Year to date, the fund has returned 10.2%, 1.2 percentage points better than the category, which translates into a grade of B. The fund has returned 22.3% over the past year (grade of B), 20.6% over the past three years (grade of B) and 13.4% per year over the past five years (grade of A) and 15.5% per year over the past 10 years (grade of A).

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