0000035341 fdt1:S000006069Member fdt1:C000016687Member 2011-09-30 2012-09-29 0000035341 fdt1:S000006069Member 2011-09-30 2012-09-29 0000035341 2011-09-30 2012-09-29 0000035341 fdt1:S000006069Member fdt1:BeforeTaxesMember fdt1:C000016687Member 2011-09-30 2012-09-29 0000035341 fdt1:S000006069Member rr:AfterTaxesOnDistributionsMember fdt1:C000016687Member 2011-09-30 2012-09-29 0000035341 fdt1:S000006069Member rr:AfterTaxesOnDistributionsAndSalesMember fdt1:C000016687Member 2011-09-30 2012-09-29 0000035341 fdt1:S000006069Member fdt1:SAndPFiveHundredIndexMember 2011-09-30 2012-09-29 0000035341 fdt1:S000006069Member fdt1:DowJonesUSSelectRealEstateSecuritiesIndexMember 2011-09-30 2012-09-29 pure iso4217:USD 2012-06-30 <div style="display:none">~ http://www.fidelity.com/role/ScheduleShareholderFeesFidelityRealEstateInvestmentPortfolio column period compact * ~</div> The fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when fund shares are held in a taxable account. These costs, which are not reflected in annual operating expenses or in the example, affect the fund's performance. During the most recent fiscal year, the fund's portfolio turnover rate was 26% of the average value of its portfolio. www.fidelity.com 466 0.3378 Fund Summary Fund: Fidelity® Real Estate Investment Portfolio Shareholder fees (fees paid directly from your investment) Annual fund operating expenses (expenses that you pay each year as a % of the value of your investment) The information illustrates the changes in the performance of the fund's shares from year to year and compares the performance of the fund's shares to the performance of a securities market index and an additional index over various periods of time. Return After Taxes on Distributions and Sale of Fund Shares may be higher than other returns for the same period due to a tax benefit of realizing a capital loss upon the sale of fund shares. 0.1515 86 <div style="display:none">~ http://www.fidelity.com/role/ScheduleAnnualFundOperatingExpensesFidelityRealEstateInvestmentPortfolio column period compact * ~</div> 485BPOS FIDELITY DEVONSHIRE TRUST Principal Investment Strategies Average Annual Returns The following table describes the fees and expenses that may be incurred when you buy, hold, or sell shares of the fund. This example helps compare the cost of investing in the fund with the cost of investing in other mutual funds. Let's say, hypothetically, that the annual return for shares of the fund is 5% and that your shareholder fees and the annual operating expenses for shares of the fund are exactly as described in the fee table. This example illustrates the effect of fees and expenses, but is not meant to suggest actual or expected fees and expenses or returns, all of which may vary. For every $10,000 you invested, here's how much you would pay in total expenses if you sell all of your shares at the end of each time period indicated: After-tax returns are calculated using the historical highest individual federal marginal income tax rates, but do not reflect the impact of state or local taxes. Actual after-tax returns may differ depending on your individual circumstances. The after-tax returns shown are not relevant if you hold your shares in a retirement account or in another tax-deferred arrangement. Return After Taxes on Distributions and Sale of Fund Shares may be higher than other returns for the same period due to a tax benefit of realizing a capital loss upon the sale of fund shares. For the periods ended December 31, 2011 In addition, the fund is considered non-diversified and can invest a greater portion of assets in securities of a smaller number of individual issuers than a diversified fund. As a result, changes in the market value of a single investment could cause greater fluctuations in share price than would occur in a more diversified fund. The after-tax returns shown are not relevant if you hold your shares in a retirement account or in another tax-deferred arrangement. 0.4103 <div style="font-face: times new roman; font-size:10pt" ><table style="font-size:10pt" cellpadding="0" cellspacing="2" border="1" width="100%"><tr><td width="60%">During the periods shown in the chart:</td><td width="10%" align="center"><div style="font-size:8pt">Returns</div></td><td width="30%" align="center"><div style="font-size:8pt">Quarter ended</div></td></tr><tr><td>Highest Quarter Return</td><td align="right">41.03%</td><td>September 30, 2009</td></tr><tr><td>Lowest Quarter Return</td><td align="right">-37.43%</td><td>December 31, 2008</td></tr><tr><td>Year-to-Date Return</td><td align="right">15.15%</td><td>June 30, 2012</td></tr></table></div> 268 0.0577 0.0829 <div style="display:none">~ http://www.fidelity.com/role/ScheduleAnnualTotalReturnsFidelityRealEstateInvestmentPortfolioBarChart column period compact * ~</div> 2012-09-27 0000035341 2012-07-31 false Investment Objective Fee Table Portfolio Turnover Year-by-Year Returns Calendar Years <ul><li>Normally investing primarily in common stocks. </li><li>Normally investing at least 80% of assets in securities of companies principally engaged in the real estate industry and other real estate related investments.</li><li>Investing in domestic and foreign issuers.</li><li>Using fundamental analysis of factors such as each issuer's financial condition and industry position, as well as market and economic conditions, to select investments.</li></ul> <ul><li>Stock Market Volatility. Stock markets are volatile and can decline significantly in response to adverse issuer, political, regulatory, market, or economic developments. Different parts of the market can react differently to these developments.</li><li>Foreign Exposure. Foreign markets can be more volatile than the U.S. market due to increased risks of adverse issuer, political, regulatory, market, or economic developments and can perform differently from the U.S. market.</li><li>Real Estate Industry Concentration. Changes in real estate values or economic downturns can have a significant negative effect on issuers in the real estate industry.</li><li>Issuer-Specific Changes. The value of an individual security or particular type of security can be more volatile than, and can perform differently from, the market as a whole.</li></ul>In addition, the fund is considered non-diversified and can invest a greater portion of assets in securities of a smaller number of individual issuers than a diversified fund. As a result, changes in the market value of a single investment could cause greater fluctuations in share price than would occur in a more diversified fund. An investment in the fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. You could lose money by investing in the fund. You could lose money by investing in the fund. After-tax returns are calculated using the historical highest individual federal marginal income tax rates, but do not reflect the impact of state or local taxes. 2009-09-30 Lowest Quarter Return 2008-12-31 0.0084 0.1487 -0.3821 0.0829 0.0817 0.0553 0.0211 0.0887 0.1016 0.0891 0.0856 0.0292 0.1011 <div style="display:none">~ http://www.fidelity.com/role/ScheduleAverageAnnualTotalReturnsTransposedFidelityRealEstateInvestmentPortfolio column period compact * ~</div> Return Before Taxes Return After Taxes on Distributions Return After Taxes on Distributions and Sale of Fund Shares S&P 500® Index Performance Principal Investment Risks The fund seeks above-average income and long-term capital growth, consistent with reasonable investment risk. The fund seeks to provide a yield that exceeds the composite yield of the S&P 500® Index. The following information is intended to help you understand the risks of investing in the fund. The information illustrates the changes in the performance of the fund's shares from year to year and compares the performance of the fund's shares to the performance of a securities market index and an additional index over various periods of time. The indexes have characteristics relevant to the fund's investment strategies. Index descriptions appear in the Additional Information about the Indexes section of the prospectus. Past performance (before and after taxes) is not an indication of future performance. Visit www.fidelity.com for updated return information. 0.26 An investment in the fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Past performance (before and after taxes) is not an indication of future performance. Year-to-Date Return Highest Quarter Return -0.3743 <ul><li>Normally investing at least 80% of assets in securities of companies principally engaged in the real estate industry and other real estate related investments.</li></ul> -0.0075 0.0056 0 0.0028 1037 0.3415 0.3284 -0.2134 0.3289 0.2985 -0.0191 -0.0257 -0.0183 -0.0025 -0.0222 <div style="display:none">~ http://www.fidelity.com/role/ScheduleExpenseExampleFidelityRealEstateInvestmentPortfolio column period compact * ~</div> Fidelity Real Estate Investment Portfolio Dow Jones U.S. Select Real Estate Securities IndexSM 2012-09-29 2012-09-29 Fidelity Real Estate Investment Portfolio Fidelity Real Estate Investment Portfolio