0000320351
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosFidelityAdvisorCommunicationServicesFund-AMCIZPROMember
fmr:S000007476Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosFidelityAdvisorCommunicationServicesFund-AMCIZPROMember
fmr:S000007476Member
fmr:C000206306Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosFidelityAdvisorCommunicationServicesFund-AMCIZPROMember
fmr:S000007476Member
fmr:ReturnBeforeTaxesMember
fmr:C000206306Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosFidelityAdvisorCommunicationServicesFund-AMCIZPROMember
fmr:S000007476Member
fmr:C000206307Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosFidelityAdvisorCommunicationServicesFund-AMCIZPROMember
fmr:S000007476Member
fmr:ReturnBeforeTaxesMember
fmr:C000206307Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosFidelityAdvisorCommunicationServicesFund-AMCIZPROMember
fmr:S000007476Member
fmr:C000206308Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosFidelityAdvisorCommunicationServicesFund-AMCIZPROMember
fmr:S000007476Member
fmr:ReturnBeforeTaxesMember
fmr:C000206308Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosFidelityAdvisorCommunicationServicesFund-AMCIZPROMember
fmr:S000007476Member
rr:AfterTaxesOnDistributionsMember
fmr:C000206308Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosFidelityAdvisorCommunicationServicesFund-AMCIZPROMember
fmr:S000007476Member
rr:AfterTaxesOnDistributionsAndSalesMember
fmr:C000206308Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosFidelityAdvisorCommunicationServicesFund-AMCIZPROMember
fmr:S000007476Member
fmr:C000206309Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosFidelityAdvisorCommunicationServicesFund-AMCIZPROMember
fmr:S000007476Member
fmr:ReturnBeforeTaxesMember
fmr:C000206309Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosFidelityAdvisorCommunicationServicesFund-AMCIZPROMember
fmr:S000007476Member
fmr:C000206310Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosFidelityAdvisorCommunicationServicesFund-AMCIZPROMember
fmr:S000007476Member
fmr:ReturnBeforeTaxesMember
fmr:C000206310Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosFidelityAdvisorCommunicationServicesFund-AMCIZPROMember
fmr:S000007476Member
fmr:IndexSP001Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosFidelityAdvisorCommunicationServicesFund-AMCIZPROMember
fmr:S000007476Member
fmr:IndexF1522Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup8-MaterialsSector-RetailComboPROMember
fmr:S000007492Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup8-MaterialsSector-RetailComboPROMember
fmr:S000007492Member
fmr:C000020466Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup8-MaterialsSector-RetailComboPROMember
fmr:S000007492Member
fmr:ReturnBeforeTaxesMember
fmr:C000020466Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup8-MaterialsSector-RetailComboPROMember
fmr:S000007492Member
rr:AfterTaxesOnDistributionsMember
fmr:C000020466Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup8-MaterialsSector-RetailComboPROMember
fmr:S000007492Member
rr:AfterTaxesOnDistributionsAndSalesMember
fmr:C000020466Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup8-MaterialsSector-RetailComboPROMember
fmr:S000007492Member
fmr:IndexSP001Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup8-MaterialsSector-RetailComboPROMember
fmr:S000007492Member
fmr:IndexF1503Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup8-MaterialsSector-RetailComboPROMember
fmr:S000007465Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup8-MaterialsSector-RetailComboPROMember
fmr:S000007465Member
fmr:C000020439Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup8-MaterialsSector-RetailComboPROMember
fmr:S000007465Member
fmr:ReturnBeforeTaxesMember
fmr:C000020439Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup8-MaterialsSector-RetailComboPROMember
fmr:S000007465Member
rr:AfterTaxesOnDistributionsMember
fmr:C000020439Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup8-MaterialsSector-RetailComboPROMember
fmr:S000007465Member
rr:AfterTaxesOnDistributionsAndSalesMember
fmr:C000020439Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup8-MaterialsSector-RetailComboPROMember
fmr:S000007465Member
fmr:IndexSP001Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup8-MaterialsSector-RetailComboPROMember
fmr:S000007465Member
fmr:IndexIXZGFMember
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup8-MaterialsSector-RetailComboPROMember
fmr:S000007469Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup8-MaterialsSector-RetailComboPROMember
fmr:S000007469Member
fmr:C000020443Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup8-MaterialsSector-RetailComboPROMember
fmr:S000007469Member
fmr:ReturnBeforeTaxesMember
fmr:C000020443Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup8-MaterialsSector-RetailComboPROMember
fmr:S000007469Member
rr:AfterTaxesOnDistributionsMember
fmr:C000020443Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup8-MaterialsSector-RetailComboPROMember
fmr:S000007469Member
rr:AfterTaxesOnDistributionsAndSalesMember
fmr:C000020443Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup8-MaterialsSector-RetailComboPROMember
fmr:S000007469Member
fmr:IndexSP001Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup8-MaterialsSector-RetailComboPROMember
fmr:S000007469Member
fmr:IndexF1519Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup5-HealthCareSector-ComboPROMember
fmr:S000007486Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup5-HealthCareSector-ComboPROMember
fmr:S000007486Member
fmr:C000020460Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup5-HealthCareSector-ComboPROMember
fmr:S000007486Member
fmr:ReturnBeforeTaxesMember
fmr:C000020460Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup5-HealthCareSector-ComboPROMember
fmr:S000007486Member
rr:AfterTaxesOnDistributionsMember
fmr:C000020460Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup5-HealthCareSector-ComboPROMember
fmr:S000007486Member
rr:AfterTaxesOnDistributionsAndSalesMember
fmr:C000020460Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup5-HealthCareSector-ComboPROMember
fmr:S000007486Member
fmr:IndexSP001Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup5-HealthCareSector-ComboPROMember
fmr:S000007486Member
fmr:IndexF1501Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup5-HealthCareSector-ComboPROMember
fmr:S000007466Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup5-HealthCareSector-ComboPROMember
fmr:S000007466Member
fmr:C000020440Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup5-HealthCareSector-ComboPROMember
fmr:S000007466Member
fmr:ReturnBeforeTaxesMember
fmr:C000020440Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup5-HealthCareSector-ComboPROMember
fmr:S000007466Member
rr:AfterTaxesOnDistributionsMember
fmr:C000020440Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup5-HealthCareSector-ComboPROMember
fmr:S000007466Member
rr:AfterTaxesOnDistributionsAndSalesMember
fmr:C000020440Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup5-HealthCareSector-ComboPROMember
fmr:S000007466Member
fmr:IndexSP001Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup5-HealthCareSector-ComboPROMember
fmr:S000007466Member
fmr:IndexF1513Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup5-HealthCareSector-ComboPROMember
fmr:S000007472Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup5-HealthCareSector-ComboPROMember
fmr:S000007472Member
fmr:C000020446Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup5-HealthCareSector-ComboPROMember
fmr:S000007472Member
fmr:ReturnBeforeTaxesMember
fmr:C000020446Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup5-HealthCareSector-ComboPROMember
fmr:S000007472Member
rr:AfterTaxesOnDistributionsMember
fmr:C000020446Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup5-HealthCareSector-ComboPROMember
fmr:S000007472Member
rr:AfterTaxesOnDistributionsAndSalesMember
fmr:C000020446Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup5-HealthCareSector-ComboPROMember
fmr:S000007472Member
fmr:IndexSP001Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup5-HealthCareSector-ComboPROMember
fmr:S000007472Member
fmr:IndexF1520Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup5-HealthCareSector-ComboPROMember
fmr:S000007473Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup5-HealthCareSector-ComboPROMember
fmr:S000007473Member
fmr:C000020447Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup5-HealthCareSector-ComboPROMember
fmr:S000007473Member
fmr:ReturnBeforeTaxesMember
fmr:C000020447Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup5-HealthCareSector-ComboPROMember
fmr:S000007473Member
rr:AfterTaxesOnDistributionsMember
fmr:C000020447Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup5-HealthCareSector-ComboPROMember
fmr:S000007473Member
rr:AfterTaxesOnDistributionsAndSalesMember
fmr:C000020447Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup5-HealthCareSector-ComboPROMember
fmr:S000007473Member
fmr:IndexSP001Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup5-HealthCareSector-ComboPROMember
fmr:S000007473Member
fmr:IndexF1521Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup5-HealthCareSector-ComboPROMember
fmr:S000007481Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup5-HealthCareSector-ComboPROMember
fmr:S000007481Member
fmr:C000020455Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup5-HealthCareSector-ComboPROMember
fmr:S000007481Member
fmr:ReturnBeforeTaxesMember
fmr:C000020455Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup5-HealthCareSector-ComboPROMember
fmr:S000007481Member
rr:AfterTaxesOnDistributionsMember
fmr:C000020455Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup5-HealthCareSector-ComboPROMember
fmr:S000007481Member
rr:AfterTaxesOnDistributionsAndSalesMember
fmr:C000020455Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup5-HealthCareSector-ComboPROMember
fmr:S000007481Member
fmr:IndexSP001Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup5-HealthCareSector-ComboPROMember
fmr:S000007481Member
fmr:IndexF1532Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup10-UtilitiesSector-PROMember
fmr:S000007488Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup10-UtilitiesSector-PROMember
fmr:S000007488Member
fmr:C000020462Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup10-UtilitiesSector-PROMember
fmr:S000007488Member
fmr:ReturnBeforeTaxesMember
fmr:C000020462Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup10-UtilitiesSector-PROMember
fmr:S000007488Member
rr:AfterTaxesOnDistributionsMember
fmr:C000020462Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup10-UtilitiesSector-PROMember
fmr:S000007488Member
rr:AfterTaxesOnDistributionsAndSalesMember
fmr:C000020462Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup10-UtilitiesSector-PROMember
fmr:S000007488Member
fmr:IndexSP001Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup10-UtilitiesSector-PROMember
fmr:S000007488Member
fmr:IndexF1528Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup9-TelecommunicationsServicesSector-RetailComboPROMember
fmr:S000007485Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup9-TelecommunicationsServicesSector-RetailComboPROMember
fmr:S000007485Member
fmr:C000020459Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup9-TelecommunicationsServicesSector-RetailComboPROMember
fmr:S000007485Member
fmr:ReturnBeforeTaxesMember
fmr:C000020459Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup9-TelecommunicationsServicesSector-RetailComboPROMember
fmr:S000007485Member
rr:AfterTaxesOnDistributionsMember
fmr:C000020459Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup9-TelecommunicationsServicesSector-RetailComboPROMember
fmr:S000007485Member
rr:AfterTaxesOnDistributionsAndSalesMember
fmr:C000020459Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup9-TelecommunicationsServicesSector-RetailComboPROMember
fmr:S000007485Member
fmr:IndexSP001Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup9-TelecommunicationsServicesSector-RetailComboPROMember
fmr:S000007485Member
fmr:IndexIXYR4Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup9-TelecommunicationsServicesSector-RetailComboPROMember
fmr:S000007489Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup9-TelecommunicationsServicesSector-RetailComboPROMember
fmr:S000007489Member
fmr:C000020463Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup9-TelecommunicationsServicesSector-RetailComboPROMember
fmr:S000007489Member
fmr:ReturnBeforeTaxesMember
fmr:C000020463Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup9-TelecommunicationsServicesSector-RetailComboPROMember
fmr:S000007489Member
rr:AfterTaxesOnDistributionsMember
fmr:C000020463Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup9-TelecommunicationsServicesSector-RetailComboPROMember
fmr:S000007489Member
rr:AfterTaxesOnDistributionsAndSalesMember
fmr:C000020463Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup9-TelecommunicationsServicesSector-RetailComboPROMember
fmr:S000007489Member
fmr:IndexSP001Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup9-TelecommunicationsServicesSector-RetailComboPROMember
fmr:S000007489Member
fmr:IndexSP033Member
2024-04-29
2024-04-29
0000320351
fmr:FidelityEnvironmentandAlternativeEnergyNaturalResourcesFunds-ComboPROMember
fmr:S000007461Member
2024-04-29
2024-04-29
0000320351
fmr:FidelityEnvironmentandAlternativeEnergyNaturalResourcesFunds-ComboPROMember
fmr:S000007461Member
fmr:C000020435Member
2024-04-29
2024-04-29
0000320351
fmr:FidelityEnvironmentandAlternativeEnergyNaturalResourcesFunds-ComboPROMember
fmr:S000007461Member
fmr:ReturnBeforeTaxesMember
fmr:C000020435Member
2024-04-29
2024-04-29
0000320351
fmr:FidelityEnvironmentandAlternativeEnergyNaturalResourcesFunds-ComboPROMember
fmr:S000007461Member
rr:AfterTaxesOnDistributionsMember
fmr:C000020435Member
2024-04-29
2024-04-29
0000320351
fmr:FidelityEnvironmentandAlternativeEnergyNaturalResourcesFunds-ComboPROMember
fmr:S000007461Member
rr:AfterTaxesOnDistributionsAndSalesMember
fmr:C000020435Member
2024-04-29
2024-04-29
0000320351
fmr:FidelityEnvironmentandAlternativeEnergyNaturalResourcesFunds-ComboPROMember
fmr:S000007461Member
fmr:IndexSP001Member
2024-04-29
2024-04-29
0000320351
fmr:FidelityEnvironmentandAlternativeEnergyNaturalResourcesFunds-ComboPROMember
fmr:S000007461Member
fmr:IndexFT128Member
2024-04-29
2024-04-29
0000320351
fmr:FidelityEnvironmentandAlternativeEnergyNaturalResourcesFunds-ComboPROMember
fmr:S000007478Member
2024-04-29
2024-04-29
0000320351
fmr:FidelityEnvironmentandAlternativeEnergyNaturalResourcesFunds-ComboPROMember
fmr:S000007478Member
fmr:C000020452Member
2024-04-29
2024-04-29
0000320351
fmr:FidelityEnvironmentandAlternativeEnergyNaturalResourcesFunds-ComboPROMember
fmr:S000007478Member
fmr:ReturnBeforeTaxesMember
fmr:C000020452Member
2024-04-29
2024-04-29
0000320351
fmr:FidelityEnvironmentandAlternativeEnergyNaturalResourcesFunds-ComboPROMember
fmr:S000007478Member
rr:AfterTaxesOnDistributionsMember
fmr:C000020452Member
2024-04-29
2024-04-29
0000320351
fmr:FidelityEnvironmentandAlternativeEnergyNaturalResourcesFunds-ComboPROMember
fmr:S000007478Member
rr:AfterTaxesOnDistributionsAndSalesMember
fmr:C000020452Member
2024-04-29
2024-04-29
0000320351
fmr:FidelityEnvironmentandAlternativeEnergyNaturalResourcesFunds-ComboPROMember
fmr:S000007478Member
fmr:IndexSP001Member
2024-04-29
2024-04-29
0000320351
fmr:FidelityEnvironmentandAlternativeEnergyNaturalResourcesFunds-ComboPROMember
fmr:S000007478Member
fmr:IndexGS006Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosEnergyPortfolioPROMember
fmr:S000007459Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosEnergyPortfolioPROMember
fmr:S000007459Member
fmr:C000020433Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosEnergyPortfolioPROMember
fmr:S000007459Member
fmr:ReturnBeforeTaxesMember
fmr:C000020433Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosEnergyPortfolioPROMember
fmr:S000007459Member
rr:AfterTaxesOnDistributionsMember
fmr:C000020433Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosEnergyPortfolioPROMember
fmr:S000007459Member
rr:AfterTaxesOnDistributionsAndSalesMember
fmr:C000020433Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosEnergyPortfolioPROMember
fmr:S000007459Member
fmr:IndexSP001Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosEnergyPortfolioPROMember
fmr:S000007459Member
fmr:IndexF1509Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup6-IndustrialsSector-ComboPROMember
fmr:S000007456Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup6-IndustrialsSector-ComboPROMember
fmr:S000007456Member
fmr:C000020430Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup6-IndustrialsSector-ComboPROMember
fmr:S000007456Member
fmr:ReturnBeforeTaxesMember
fmr:C000020430Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup6-IndustrialsSector-ComboPROMember
fmr:S000007456Member
rr:AfterTaxesOnDistributionsMember
fmr:C000020430Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup6-IndustrialsSector-ComboPROMember
fmr:S000007456Member
rr:AfterTaxesOnDistributionsAndSalesMember
fmr:C000020430Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup6-IndustrialsSector-ComboPROMember
fmr:S000007456Member
fmr:IndexSP001Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup6-IndustrialsSector-ComboPROMember
fmr:S000007456Member
fmr:IndexF1507Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup6-IndustrialsSector-ComboPROMember
fmr:S000007455Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup6-IndustrialsSector-ComboPROMember
fmr:S000007455Member
fmr:C000020429Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup6-IndustrialsSector-ComboPROMember
fmr:S000007455Member
fmr:ReturnBeforeTaxesMember
fmr:C000020429Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup6-IndustrialsSector-ComboPROMember
fmr:S000007455Member
rr:AfterTaxesOnDistributionsMember
fmr:C000020429Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup6-IndustrialsSector-ComboPROMember
fmr:S000007455Member
rr:AfterTaxesOnDistributionsAndSalesMember
fmr:C000020429Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup6-IndustrialsSector-ComboPROMember
fmr:S000007455Member
fmr:IndexSP001Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup6-IndustrialsSector-ComboPROMember
fmr:S000007455Member
fmr:IndexF1511Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup6-IndustrialsSector-ComboPROMember
fmr:S000007487Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup6-IndustrialsSector-ComboPROMember
fmr:S000007487Member
fmr:C000020461Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup6-IndustrialsSector-ComboPROMember
fmr:S000007487Member
fmr:ReturnBeforeTaxesMember
fmr:C000020461Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup6-IndustrialsSector-ComboPROMember
fmr:S000007487Member
rr:AfterTaxesOnDistributionsMember
fmr:C000020461Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup6-IndustrialsSector-ComboPROMember
fmr:S000007487Member
rr:AfterTaxesOnDistributionsAndSalesMember
fmr:C000020461Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup6-IndustrialsSector-ComboPROMember
fmr:S000007487Member
fmr:IndexSP001Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup6-IndustrialsSector-ComboPROMember
fmr:S000007487Member
fmr:IndexF1527Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup2-ConsumerStaplesSector-RetailPROMember
fmr:S000007463Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup2-ConsumerStaplesSector-RetailPROMember
fmr:S000007463Member
fmr:C000020437Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup2-ConsumerStaplesSector-RetailPROMember
fmr:S000007463Member
fmr:ReturnBeforeTaxesMember
fmr:C000020437Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup2-ConsumerStaplesSector-RetailPROMember
fmr:S000007463Member
rr:AfterTaxesOnDistributionsMember
fmr:C000020437Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup2-ConsumerStaplesSector-RetailPROMember
fmr:S000007463Member
rr:AfterTaxesOnDistributionsAndSalesMember
fmr:C000020437Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup2-ConsumerStaplesSector-RetailPROMember
fmr:S000007463Member
fmr:IndexSP001Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup2-ConsumerStaplesSector-RetailPROMember
fmr:S000007463Member
fmr:IndexF1506Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup1-ConsumerDiscretionarySector-ComboPROMember
fmr:S000007464Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup1-ConsumerDiscretionarySector-ComboPROMember
fmr:S000007464Member
fmr:C000020438Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup1-ConsumerDiscretionarySector-ComboPROMember
fmr:S000007464Member
fmr:ReturnBeforeTaxesMember
fmr:C000020438Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup1-ConsumerDiscretionarySector-ComboPROMember
fmr:S000007464Member
rr:AfterTaxesOnDistributionsMember
fmr:C000020438Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup1-ConsumerDiscretionarySector-ComboPROMember
fmr:S000007464Member
rr:AfterTaxesOnDistributionsAndSalesMember
fmr:C000020438Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup1-ConsumerDiscretionarySector-ComboPROMember
fmr:S000007464Member
fmr:IndexSP001Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup1-ConsumerDiscretionarySector-ComboPROMember
fmr:S000007464Member
fmr:IndexF1529Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup1-ConsumerDiscretionarySector-ComboPROMember
fmr:S000007476Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup1-ConsumerDiscretionarySector-ComboPROMember
fmr:S000007476Member
fmr:C000020450Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup1-ConsumerDiscretionarySector-ComboPROMember
fmr:S000007476Member
fmr:ReturnBeforeTaxesMember
fmr:C000020450Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup1-ConsumerDiscretionarySector-ComboPROMember
fmr:S000007476Member
rr:AfterTaxesOnDistributionsMember
fmr:C000020450Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup1-ConsumerDiscretionarySector-ComboPROMember
fmr:S000007476Member
rr:AfterTaxesOnDistributionsAndSalesMember
fmr:C000020450Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup1-ConsumerDiscretionarySector-ComboPROMember
fmr:S000007476Member
fmr:IndexSP001Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup1-ConsumerDiscretionarySector-ComboPROMember
fmr:S000007476Member
fmr:IndexF1522Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup1-ConsumerDiscretionarySector-ComboPROMember
fmr:S000007494Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup1-ConsumerDiscretionarySector-ComboPROMember
fmr:S000007494Member
fmr:C000020468Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup1-ConsumerDiscretionarySector-ComboPROMember
fmr:S000007494Member
fmr:ReturnBeforeTaxesMember
fmr:C000020468Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup1-ConsumerDiscretionarySector-ComboPROMember
fmr:S000007494Member
rr:AfterTaxesOnDistributionsMember
fmr:C000020468Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup1-ConsumerDiscretionarySector-ComboPROMember
fmr:S000007494Member
rr:AfterTaxesOnDistributionsAndSalesMember
fmr:C000020468Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup1-ConsumerDiscretionarySector-ComboPROMember
fmr:S000007494Member
fmr:IndexSP001Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup1-ConsumerDiscretionarySector-ComboPROMember
fmr:S000007494Member
fmr:IndexF1504Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup1-ConsumerDiscretionarySector-ComboPROMember
fmr:S000007454Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup1-ConsumerDiscretionarySector-ComboPROMember
fmr:S000007454Member
fmr:C000020428Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup1-ConsumerDiscretionarySector-ComboPROMember
fmr:S000007454Member
fmr:ReturnBeforeTaxesMember
fmr:C000020428Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup1-ConsumerDiscretionarySector-ComboPROMember
fmr:S000007454Member
rr:AfterTaxesOnDistributionsMember
fmr:C000020428Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup1-ConsumerDiscretionarySector-ComboPROMember
fmr:S000007454Member
rr:AfterTaxesOnDistributionsAndSalesMember
fmr:C000020428Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup1-ConsumerDiscretionarySector-ComboPROMember
fmr:S000007454Member
fmr:IndexSP001Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup1-ConsumerDiscretionarySector-ComboPROMember
fmr:S000007454Member
fmr:IndexF1505Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup1-ConsumerDiscretionarySector-ComboPROMember
fmr:S000007471Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup1-ConsumerDiscretionarySector-ComboPROMember
fmr:S000007471Member
fmr:C000020445Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup1-ConsumerDiscretionarySector-ComboPROMember
fmr:S000007471Member
fmr:ReturnBeforeTaxesMember
fmr:C000020445Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup1-ConsumerDiscretionarySector-ComboPROMember
fmr:S000007471Member
rr:AfterTaxesOnDistributionsMember
fmr:C000020445Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup1-ConsumerDiscretionarySector-ComboPROMember
fmr:S000007471Member
rr:AfterTaxesOnDistributionsAndSalesMember
fmr:C000020445Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup1-ConsumerDiscretionarySector-ComboPROMember
fmr:S000007471Member
fmr:IndexSP001Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup1-ConsumerDiscretionarySector-ComboPROMember
fmr:S000007471Member
fmr:IndexF1518Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup1-ConsumerDiscretionarySector-ComboPROMember
fmr:S000007482Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup1-ConsumerDiscretionarySector-ComboPROMember
fmr:S000007482Member
fmr:C000020456Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup1-ConsumerDiscretionarySector-ComboPROMember
fmr:S000007482Member
fmr:ReturnBeforeTaxesMember
fmr:C000020456Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup1-ConsumerDiscretionarySector-ComboPROMember
fmr:S000007482Member
rr:AfterTaxesOnDistributionsMember
fmr:C000020456Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup1-ConsumerDiscretionarySector-ComboPROMember
fmr:S000007482Member
rr:AfterTaxesOnDistributionsAndSalesMember
fmr:C000020456Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup1-ConsumerDiscretionarySector-ComboPROMember
fmr:S000007482Member
fmr:IndexSP001Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup1-ConsumerDiscretionarySector-ComboPROMember
fmr:S000007482Member
fmr:IndexF1523Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosFidelityAdvisorGoldFund-AMCIZPROMember
fmr:S000007465Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosFidelityAdvisorGoldFund-AMCIZPROMember
fmr:S000007465Member
fmr:C000040621Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosFidelityAdvisorGoldFund-AMCIZPROMember
fmr:S000007465Member
fmr:ReturnBeforeTaxesMember
fmr:C000040621Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosFidelityAdvisorGoldFund-AMCIZPROMember
fmr:S000007465Member
fmr:C000040622Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosFidelityAdvisorGoldFund-AMCIZPROMember
fmr:S000007465Member
fmr:ReturnBeforeTaxesMember
fmr:C000040622Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosFidelityAdvisorGoldFund-AMCIZPROMember
fmr:S000007465Member
rr:AfterTaxesOnDistributionsMember
fmr:C000040622Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosFidelityAdvisorGoldFund-AMCIZPROMember
fmr:S000007465Member
rr:AfterTaxesOnDistributionsAndSalesMember
fmr:C000040622Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosFidelityAdvisorGoldFund-AMCIZPROMember
fmr:S000007465Member
fmr:C000040624Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosFidelityAdvisorGoldFund-AMCIZPROMember
fmr:S000007465Member
fmr:ReturnBeforeTaxesMember
fmr:C000040624Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosFidelityAdvisorGoldFund-AMCIZPROMember
fmr:S000007465Member
fmr:C000040625Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosFidelityAdvisorGoldFund-AMCIZPROMember
fmr:S000007465Member
fmr:ReturnBeforeTaxesMember
fmr:C000040625Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosFidelityAdvisorGoldFund-AMCIZPROMember
fmr:S000007465Member
fmr:C000205043Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosFidelityAdvisorGoldFund-AMCIZPROMember
fmr:S000007465Member
fmr:ReturnBeforeTaxesMember
fmr:C000205043Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosFidelityAdvisorGoldFund-AMCIZPROMember
fmr:S000007465Member
fmr:IndexSP001Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosFidelityAdvisorGoldFund-AMCIZPROMember
fmr:S000007465Member
fmr:IndexIXZGFMember
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup4-FinancialsSector-ComboPROMember
fmr:S000007475Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup4-FinancialsSector-ComboPROMember
fmr:S000007475Member
fmr:C000020449Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup4-FinancialsSector-ComboPROMember
fmr:S000007475Member
fmr:ReturnBeforeTaxesMember
fmr:C000020449Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup4-FinancialsSector-ComboPROMember
fmr:S000007475Member
rr:AfterTaxesOnDistributionsMember
fmr:C000020449Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup4-FinancialsSector-ComboPROMember
fmr:S000007475Member
rr:AfterTaxesOnDistributionsAndSalesMember
fmr:C000020449Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup4-FinancialsSector-ComboPROMember
fmr:S000007475Member
fmr:IndexSP001Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup4-FinancialsSector-ComboPROMember
fmr:S000007475Member
fmr:IndexIXZ93Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup4-FinancialsSector-ComboPROMember
fmr:S000007490Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup4-FinancialsSector-ComboPROMember
fmr:S000007490Member
fmr:C000020464Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup4-FinancialsSector-ComboPROMember
fmr:S000007490Member
fmr:ReturnBeforeTaxesMember
fmr:C000020464Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup4-FinancialsSector-ComboPROMember
fmr:S000007490Member
rr:AfterTaxesOnDistributionsMember
fmr:C000020464Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup4-FinancialsSector-ComboPROMember
fmr:S000007490Member
rr:AfterTaxesOnDistributionsAndSalesMember
fmr:C000020464Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup4-FinancialsSector-ComboPROMember
fmr:S000007490Member
fmr:IndexSP001Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup4-FinancialsSector-ComboPROMember
fmr:S000007490Member
fmr:IndexF1502Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup4-FinancialsSector-ComboPROMember
fmr:S000007462Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup4-FinancialsSector-ComboPROMember
fmr:S000007462Member
fmr:C000020436Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup4-FinancialsSector-ComboPROMember
fmr:S000007462Member
fmr:ReturnBeforeTaxesMember
fmr:C000020436Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup4-FinancialsSector-ComboPROMember
fmr:S000007462Member
rr:AfterTaxesOnDistributionsMember
fmr:C000020436Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup4-FinancialsSector-ComboPROMember
fmr:S000007462Member
rr:AfterTaxesOnDistributionsAndSalesMember
fmr:C000020436Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup4-FinancialsSector-ComboPROMember
fmr:S000007462Member
fmr:IndexSP001Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup4-FinancialsSector-ComboPROMember
fmr:S000007462Member
fmr:IndexIXZ92Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup4-FinancialsSector-ComboPROMember
fmr:S000007467Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup4-FinancialsSector-ComboPROMember
fmr:S000007467Member
fmr:C000020441Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup4-FinancialsSector-ComboPROMember
fmr:S000007467Member
fmr:ReturnBeforeTaxesMember
fmr:C000020441Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup4-FinancialsSector-ComboPROMember
fmr:S000007467Member
rr:AfterTaxesOnDistributionsMember
fmr:C000020441Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup4-FinancialsSector-ComboPROMember
fmr:S000007467Member
rr:AfterTaxesOnDistributionsAndSalesMember
fmr:C000020441Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup4-FinancialsSector-ComboPROMember
fmr:S000007467Member
fmr:IndexSP001Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup4-FinancialsSector-ComboPROMember
fmr:S000007467Member
fmr:IndexIXWMLMember
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup4-FinancialsSector-ComboPROMember
fmr:S000007470Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup4-FinancialsSector-ComboPROMember
fmr:S000007470Member
fmr:C000020444Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup4-FinancialsSector-ComboPROMember
fmr:S000007470Member
fmr:ReturnBeforeTaxesMember
fmr:C000020444Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup4-FinancialsSector-ComboPROMember
fmr:S000007470Member
rr:AfterTaxesOnDistributionsMember
fmr:C000020444Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup4-FinancialsSector-ComboPROMember
fmr:S000007470Member
rr:AfterTaxesOnDistributionsAndSalesMember
fmr:C000020444Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup4-FinancialsSector-ComboPROMember
fmr:S000007470Member
fmr:IndexSP001Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup4-FinancialsSector-ComboPROMember
fmr:S000007470Member
fmr:IndexF1516Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup7-InformationTechnologySector-ComboPROMember
fmr:S000007458Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup7-InformationTechnologySector-ComboPROMember
fmr:S000007458Member
fmr:C000020432Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup7-InformationTechnologySector-ComboPROMember
fmr:S000007458Member
fmr:ReturnBeforeTaxesMember
fmr:C000020432Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup7-InformationTechnologySector-ComboPROMember
fmr:S000007458Member
rr:AfterTaxesOnDistributionsMember
fmr:C000020432Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup7-InformationTechnologySector-ComboPROMember
fmr:S000007458Member
rr:AfterTaxesOnDistributionsAndSalesMember
fmr:C000020432Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup7-InformationTechnologySector-ComboPROMember
fmr:S000007458Member
fmr:IndexSP001Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup7-InformationTechnologySector-ComboPROMember
fmr:S000007458Member
fmr:IndexF1508Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup7-InformationTechnologySector-ComboPROMember
fmr:S000007483Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup7-InformationTechnologySector-ComboPROMember
fmr:S000007483Member
fmr:C000020457Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup7-InformationTechnologySector-ComboPROMember
fmr:S000007483Member
fmr:ReturnBeforeTaxesMember
fmr:C000020457Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup7-InformationTechnologySector-ComboPROMember
fmr:S000007483Member
rr:AfterTaxesOnDistributionsMember
fmr:C000020457Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup7-InformationTechnologySector-ComboPROMember
fmr:S000007483Member
rr:AfterTaxesOnDistributionsAndSalesMember
fmr:C000020457Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup7-InformationTechnologySector-ComboPROMember
fmr:S000007483Member
fmr:IndexSP001Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup7-InformationTechnologySector-ComboPROMember
fmr:S000007483Member
fmr:IndexF1524Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup7-InformationTechnologySector-ComboPROMember
fmr:S000007493Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup7-InformationTechnologySector-ComboPROMember
fmr:S000007493Member
fmr:C000020467Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup7-InformationTechnologySector-ComboPROMember
fmr:S000007493Member
fmr:ReturnBeforeTaxesMember
fmr:C000020467Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup7-InformationTechnologySector-ComboPROMember
fmr:S000007493Member
rr:AfterTaxesOnDistributionsMember
fmr:C000020467Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup7-InformationTechnologySector-ComboPROMember
fmr:S000007493Member
rr:AfterTaxesOnDistributionsAndSalesMember
fmr:C000020467Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup7-InformationTechnologySector-ComboPROMember
fmr:S000007493Member
fmr:IndexSP001Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup7-InformationTechnologySector-ComboPROMember
fmr:S000007493Member
fmr:IndexF1531Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup7-InformationTechnologySector-ComboPROMember
fmr:S000007484Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup7-InformationTechnologySector-ComboPROMember
fmr:S000007484Member
fmr:C000020458Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup7-InformationTechnologySector-ComboPROMember
fmr:S000007484Member
fmr:ReturnBeforeTaxesMember
fmr:C000020458Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup7-InformationTechnologySector-ComboPROMember
fmr:S000007484Member
rr:AfterTaxesOnDistributionsMember
fmr:C000020458Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup7-InformationTechnologySector-ComboPROMember
fmr:S000007484Member
rr:AfterTaxesOnDistributionsAndSalesMember
fmr:C000020458Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup7-InformationTechnologySector-ComboPROMember
fmr:S000007484Member
fmr:IndexSP001Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosGroup7-InformationTechnologySector-ComboPROMember
fmr:S000007484Member
fmr:IndexF1525Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosFidelityAdvisorTelecommunicationsFund-AMCIZPROMember
fmr:S000007485Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosFidelityAdvisorTelecommunicationsFund-AMCIZPROMember
fmr:S000007485Member
fmr:C000040631Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosFidelityAdvisorTelecommunicationsFund-AMCIZPROMember
fmr:S000007485Member
fmr:ReturnBeforeTaxesMember
fmr:C000040631Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosFidelityAdvisorTelecommunicationsFund-AMCIZPROMember
fmr:S000007485Member
rr:AfterTaxesOnDistributionsMember
fmr:C000040631Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosFidelityAdvisorTelecommunicationsFund-AMCIZPROMember
fmr:S000007485Member
rr:AfterTaxesOnDistributionsAndSalesMember
fmr:C000040631Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosFidelityAdvisorTelecommunicationsFund-AMCIZPROMember
fmr:S000007485Member
fmr:C000040633Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosFidelityAdvisorTelecommunicationsFund-AMCIZPROMember
fmr:S000007485Member
fmr:ReturnBeforeTaxesMember
fmr:C000040633Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosFidelityAdvisorTelecommunicationsFund-AMCIZPROMember
fmr:S000007485Member
fmr:C000040634Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosFidelityAdvisorTelecommunicationsFund-AMCIZPROMember
fmr:S000007485Member
fmr:ReturnBeforeTaxesMember
fmr:C000040634Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosFidelityAdvisorTelecommunicationsFund-AMCIZPROMember
fmr:S000007485Member
fmr:C000040635Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosFidelityAdvisorTelecommunicationsFund-AMCIZPROMember
fmr:S000007485Member
fmr:ReturnBeforeTaxesMember
fmr:C000040635Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosFidelityAdvisorTelecommunicationsFund-AMCIZPROMember
fmr:S000007485Member
fmr:C000205045Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosFidelityAdvisorTelecommunicationsFund-AMCIZPROMember
fmr:S000007485Member
fmr:ReturnBeforeTaxesMember
fmr:C000205045Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosFidelityAdvisorTelecommunicationsFund-AMCIZPROMember
fmr:S000007485Member
fmr:IndexSP001Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosFidelityAdvisorTelecommunicationsFund-AMCIZPROMember
fmr:S000007485Member
fmr:IndexIXYR4Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosFidelityAdvisorMaterialsFund-AMCIZPROMember
fmr:S000007469Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosFidelityAdvisorMaterialsFund-AMCIZPROMember
fmr:S000007469Member
fmr:C000040626Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosFidelityAdvisorMaterialsFund-AMCIZPROMember
fmr:S000007469Member
fmr:ReturnBeforeTaxesMember
fmr:C000040626Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosFidelityAdvisorMaterialsFund-AMCIZPROMember
fmr:S000007469Member
rr:AfterTaxesOnDistributionsMember
fmr:C000040626Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosFidelityAdvisorMaterialsFund-AMCIZPROMember
fmr:S000007469Member
rr:AfterTaxesOnDistributionsAndSalesMember
fmr:C000040626Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosFidelityAdvisorMaterialsFund-AMCIZPROMember
fmr:S000007469Member
fmr:C000040628Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosFidelityAdvisorMaterialsFund-AMCIZPROMember
fmr:S000007469Member
fmr:ReturnBeforeTaxesMember
fmr:C000040628Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosFidelityAdvisorMaterialsFund-AMCIZPROMember
fmr:S000007469Member
fmr:C000040629Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosFidelityAdvisorMaterialsFund-AMCIZPROMember
fmr:S000007469Member
fmr:ReturnBeforeTaxesMember
fmr:C000040629Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosFidelityAdvisorMaterialsFund-AMCIZPROMember
fmr:S000007469Member
fmr:C000040630Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosFidelityAdvisorMaterialsFund-AMCIZPROMember
fmr:S000007469Member
fmr:ReturnBeforeTaxesMember
fmr:C000040630Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosFidelityAdvisorMaterialsFund-AMCIZPROMember
fmr:S000007469Member
fmr:C000205044Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosFidelityAdvisorMaterialsFund-AMCIZPROMember
fmr:S000007469Member
fmr:ReturnBeforeTaxesMember
fmr:C000205044Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosFidelityAdvisorMaterialsFund-AMCIZPROMember
fmr:S000007469Member
fmr:IndexSP001Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosFidelityAdvisorMaterialsFund-AMCIZPROMember
fmr:S000007469Member
fmr:IndexF1519Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosFidelityAdvisorConsumerStaplesFund-AMCIZPROMember
fmr:S000007463Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosFidelityAdvisorConsumerStaplesFund-AMCIZPROMember
fmr:S000007463Member
fmr:C000040616Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosFidelityAdvisorConsumerStaplesFund-AMCIZPROMember
fmr:S000007463Member
fmr:ReturnBeforeTaxesMember
fmr:C000040616Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosFidelityAdvisorConsumerStaplesFund-AMCIZPROMember
fmr:S000007463Member
rr:AfterTaxesOnDistributionsMember
fmr:C000040616Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosFidelityAdvisorConsumerStaplesFund-AMCIZPROMember
fmr:S000007463Member
rr:AfterTaxesOnDistributionsAndSalesMember
fmr:C000040616Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosFidelityAdvisorConsumerStaplesFund-AMCIZPROMember
fmr:S000007463Member
fmr:C000040618Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosFidelityAdvisorConsumerStaplesFund-AMCIZPROMember
fmr:S000007463Member
fmr:ReturnBeforeTaxesMember
fmr:C000040618Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosFidelityAdvisorConsumerStaplesFund-AMCIZPROMember
fmr:S000007463Member
fmr:C000040619Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosFidelityAdvisorConsumerStaplesFund-AMCIZPROMember
fmr:S000007463Member
fmr:ReturnBeforeTaxesMember
fmr:C000040619Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosFidelityAdvisorConsumerStaplesFund-AMCIZPROMember
fmr:S000007463Member
fmr:C000040620Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosFidelityAdvisorConsumerStaplesFund-AMCIZPROMember
fmr:S000007463Member
fmr:ReturnBeforeTaxesMember
fmr:C000040620Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosFidelityAdvisorConsumerStaplesFund-AMCIZPROMember
fmr:S000007463Member
fmr:C000205042Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosFidelityAdvisorConsumerStaplesFund-AMCIZPROMember
fmr:S000007463Member
fmr:ReturnBeforeTaxesMember
fmr:C000205042Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosFidelityAdvisorConsumerStaplesFund-AMCIZPROMember
fmr:S000007463Member
fmr:IndexSP001Member
2024-04-29
2024-04-29
0000320351
fmr:SelectPortfoliosFidelityAdvisorConsumerStaplesFund-AMCIZPROMember
fmr:S000007463Member
fmr:IndexF1506Member
2024-04-29
2024-04-29
iso4217:USD
pure
485BPOS
2024-02-29
false
0000320351
N-1A
Fidelity Select Portfolios
Fund Summary
Fund /Class:
Gold Portfolio
/Fidelity Advisor® Gold Fund A, M, C, I, Z
Investment Objective
Gold Portfolio seeks capital appreciation.
Fee Table
The following table describes the fees and expenses that may be incurred when you buy, hold, and
sell shares of the fund. In addition to the fees and expenses described below, your broker may also require you to pay other fees, such as brokerage commissions on purchases and sales of certain
classes of
shares of the fund and other fees to financial intermediaries, which are not reflected in the tables and examples below.
You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $
50,000
in the fund or certain other Fidelity
®
funds. More information about these and other discounts is available from your investment professional and in the "Fund Distribution" section beginning on page
20
of the prospectus.
Different intermediaries may provide additional waivers or reductions of the sales charge. Please see "Sales Charge Waiver Policies Applied by Certain Intermediaries" in the "Appendix" section of the prospectus.
You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $
50,000
in the fund or certain other Fidelity
®
funds. More information about these and other discounts is available from your investment professional and in the "Fund Distribution" section beginning on page
20
of the prospectus.
50000
Shareholder fees
0.0575
0.0350
0
0
0
0
0
Class A and Class M purchases of $1 million or more will not be subject to a front-end sales charge. Such Class A and Class M purchases may be subject, upon redemption, to a contingent deferred sales charge (CDSC) of 1.00% and 0.25%, respectively.
On Class C shares redeemed less than one year after purchase.
Annual Operating Expenses
0.0025
0.0050
0.0100
0
0
0.0099
0.0124
0.0174
0.0073
0.0060
Adjusted to reflect current fees.
This
example
helps compare the cost of investing in the fund with the cost of investing in other funds.
Let's say, hypothetically, that the annual return for shares of the fund is 5% and that the 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 and if you hold your shares:
670
670
472
472
277
177
75
75
61
61
872
872
730
730
548
548
233
233
192
192
1091
1091
1007
1007
944
944
406
406
335
335
1718
1718
1797
1797
1853
1853
906
906
750
750
Portfolio Turnover
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
46
% of the average value of its portfolio.
0.46
Principal Investment Strategies
Normally investing primarily in common stocks and in certain precious metals.
Investing primarily in companies engaged in exploration, mining, processing, or dealing in gold, or to a lesser degree, in silver, platinum, diamonds, or other precious metals and minerals.
Normally investing at least 80% of assets in securities of companies principally engaged in gold-related activities, and in gold bullion or coins.
Investing up to 25% of assets in gold and other precious metals through a wholly-owned subsidiary organized under the laws of the Cayman Islands.
Potentially investing in other precious metals, instruments whose value is linked to the price of precious metals, and securities of companies that manufacture and distribute precious metal and minerals products (such as jewelry, watches, and metal foil and leaf) and companies that invest in other companies engaged in gold and other precious metal and mineral-related activities.
Investing in domestic and foreign issuers.
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.
Normally investing at least 80% of assets in securities of companies principally engaged in gold-related activities, and in gold bullion or coins.
Principal Investment Risks
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, including different market sectors, and different types of securities can react differently to these developments.
Foreign Exposure.
Foreign markets, particularly emerging 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.
The extent of economic development; political stability; market depth, infrastructure, and capitalization; and regulatory oversight can be less than in more developed markets. Emerging markets typically have less established legal, accounting and financial reporting systems than those in more developed markets, which may reduce the scope or quality of financial information available to investors.
Emerging markets can be subject to greater social, economic, regulatory, and political uncertainties and can be extremely volatile.
Foreign exchange rates also can be extremely volatile.
Geographic Exposure to Canada.
Because the fund invests a meaningful portion of its assets in Canada, the fund's performance is expected to be closely tied to social, political, and economic conditions within Canada and to be more volatile than the performance of more geographically diversified funds.
Gold Industry Concentration.
The gold industry can be significantly affected by international monetary and political developments such as currency devaluations or revaluations, central bank movements, economic and social conditions within a country, trade imbalances, or trade or currency restrictions between countries, as well as supply and demand for gold and operational costs associated with mining.
Subsidiary Risk.
Investment in Fidelity Select Gold Cayman Ltd., an unregistered subsidiary, is not subject to the investor protections of the Investment Company Act of 1940 (1940 Act) and is subject to the risks associated with the gold industry. Changes in tax and other laws could negatively affect investments in the subsidiary.
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.
The value of securities of smaller issuers can be more volatile than that of larger issuers.
In addition, the fund is classified as non-diversified under the 1940 Act, which means that it has the ability to 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.
In addition, the fund is classified as non-diversified under the 1940 Act, which means that it has the ability to 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.
Performance
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 Index Information" section of the prospectus.
Past performance (before and after taxes) is not an indication of future performance.
Visit
institutional.fidelity.com
for more recent performance information.
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.
Past performance (before and after taxes) is not an indication of future performance.
institutional.fidelity.com
Year-by-Year Returns
The returns in the bar chart do not reflect any applicable sales charges; if sales charges were reflected, returns would be lower than those shown.
The returns in the bar chart do not reflect any applicable sales charges; if sales charges were reflected, returns would be lower than those shown.
-0.0883
-0.1807
0.4680
0.0828
-0.1328
0.3505
0.2645
-0.1070
-0.1374
-0.0065
Highest Quarter Return
0.5540
2020-06-30
Lowest Quarter Return
-0.2901
2022-06-30
Year-to-Date Return
0.0210
2024-03-31
Average Annual Returns
Unlike the returns in the bar chart, the returns in the table reflect the maximum applicable sales charges.
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.
After-tax returns for Class A are shown in the table below and after-tax returns for other classes will vary.
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, such as an employee benefit plan (profit sharing, 401(k), or 403(b) plan).
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.
Unlike the returns in the bar chart, the returns in the table reflect the maximum applicable sales charges.
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.
After-tax returns for Class A are shown in the table below and after-tax returns for other classes will vary.
The after-tax returns shown are not relevant if you hold your shares in a retirement account or in another tax-deferred arrangement, such as an employee benefit plan (profit sharing, 401(k), or 403(b) plan).
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.
Return Before Taxes
-0.0636
0.0426
0.0240
Return After Taxes on Distributions
-0.0634
0.0389
0.0209
Return After Taxes on Distributions and Sale of Fund Shares
-0.0357
0.0331
0.0182
Return Before Taxes
-0.0441
0.0445
0.0235
Return Before Taxes
-0.0239
0.0475
0.0244
Return Before Taxes
-0.0038
0.0583
0.0335
Return Before Taxes
-0.0025
0.0598
S&P 500® Index
0.2629
0.1569
0.1203
S&P® Global BMI Gold Capped 20/45 Linked Index
0.1224
0.1072
0.0651
2018-10-02
Fund Summary
Fund /Class:
Materials Portfolio
/Fidelity Advisor® Materials Fund A, M, C, I, Z
Investment Objective
Materials Portfolio seeks capital appreciation.
Fee Table
The following table describes the fees and expenses that may be incurred when you buy, hold, and
sell shares of the fund. In addition to the fees and expenses described below, your broker may also require you to pay other fees, such as brokerage commissions on purchases and sales of certain
classes of
shares of the fund and other fees to financial intermediaries, which are not reflected in the tables and examples below.
You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $
50,000
in the fund or certain other Fidelity
®
funds. More information about these and other discounts is available from your investment professional and in the "Fund Distribution" section beginning on page
19
of the prospectus.
Different intermediaries may provide additional waivers or reductions of the sales charge. Please see "Sales Charge Waiver Policies Applied by Certain Intermediaries" in the "Appendix" section of the prospectus.
You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $
50,000
in the fund or certain other Fidelity
®
funds. More information about these and other discounts is available from your investment professional and in the "Fund Distribution" section beginning on page
19
of the prospectus.
50000
Shareholder fees
0.0575
0.0350
0
0
0
0
0
Class A and Class M purchases of $1 million or more will not be subject to a front-end sales charge. Such Class A and Class M purchases may be subject, upon redemption, to a contingent deferred sales charge (CDSC) of 1.00% and 0.25%, respectively.
On Class C shares redeemed less than one year after purchase.
Annual Operating Expenses
0.0025
0.0050
0.0100
0
0
0.0099
0.0124
0.0174
0.0072
0.0058
Adjusted to reflect current fees.
This
example
helps compare the cost of investing in the fund with the cost of investing in other funds.
Let's say, hypothetically, that the annual return for shares of the fund is 5% and that the 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 and if you hold your shares:
670
670
472
472
277
177
74
74
59
59
872
872
730
730
548
548
230
230
186
186
1091
1091
1007
1007
944
944
401
401
324
324
1718
1718
1797
1797
1853
1853
894
894
726
726
Portfolio Turnover
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
51
% of the average value of its portfolio.
0.51
Principal Investment Strategies
Normally investing primarily in common stocks.
Normally investing at least 80% of assets in securities of companies principally engaged in the manufacture, mining, processing, or distribution of raw materials and intermediate goods.
Investing in domestic and foreign issuers.
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.
Normally investing at least 80% of assets in securities of companies principally engaged in the manufacture, mining, processing, or distribution of raw materials and intermediate goods.
Principal Investment Risks
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, including different market sectors, and different types of securities can react differently to these developments.
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.
Geographic Exposure to Europe.
Because the fund invests a meaningful portion of its assets in Europe, the fund's performance is expected to be closely tied to social, political, and economic conditions within Europe and to be more volatile than the performance of more geographically diversified funds.
Materials Industry Concentration.
The materials industries can be significantly affected by the level and volatility of commodity prices, the exchange value of the dollar, import and export controls, worldwide competition, liability for environmental damage, depletion of resources, and mandated expenditures for safety and pollution control.
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.
The value of securities of smaller issuers can be more volatile than that of larger issuers.
In addition, the fund is classified as non-diversified under the Investment Company Act of 1940 (1940 Act), which means that it has the ability to 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.
In addition, the fund is classified as non-diversified under the Investment Company Act of 1940 (1940 Act), which means that it has the ability to 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.
Performance
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 Index Information" section of the prospectus.
Past performance (before and after taxes) is not an indication of future performance.
Visit
institutional.fidelity.com
for more recent performance information.
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.
Past performance (before and after taxes) is not an indication of future performance.
institutional.fidelity.com
Year-by-Year Returns
The returns in the bar chart do not reflect any applicable sales charges; if sales charges were reflected, returns would be lower than those shown.
The returns in the bar chart do not reflect any applicable sales charges; if sales charges were reflected, returns would be lower than those shown.
-0.0032
-0.0891
0.1171
0.2586
-0.2385
0.1210
0.2143
0.3128
-0.1010
0.0702
Highest Quarter Return
0.2419
2020-06-30
Lowest Quarter Return
-0.2636
2020-03-31
Year-to-Date Return
0.0909
2024-03-31
Average Annual Returns
Unlike the returns in the bar chart, the returns in the table reflect the maximum applicable sales charges.
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.
After-tax returns for Class A are shown in the table below and after-tax returns for other classes will vary.
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, such as an employee benefit plan (profit sharing, 401(k), or 403(b) plan).
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.
Unlike the returns in the bar chart, the returns in the table reflect the maximum applicable sales charges.
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.
After-tax returns for Class A are shown in the table below and after-tax returns for other classes will vary.
The after-tax returns shown are not relevant if you hold your shares in a retirement account or in another tax-deferred arrangement, such as an employee benefit plan (profit sharing, 401(k), or 403(b) plan).
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.
Return Before Taxes
0.0086
0.1014
0.0465
Return After Taxes on Distributions
-0.0036
0.0961
0.0371
Return After Taxes on Distributions and Sale of Fund Shares
0.0135
0.0802
0.0348
Return Before Taxes
0.0302
0.1036
0.0460
Return Before Taxes
0.0521
0.1062
0.0464
Return Before Taxes
0.0731
0.1176
0.0557
Return Before Taxes
0.0747
0.1193
S&P 500® Index
0.2629
0.1569
0.1203
MSCI U.S. IMI Materials 25-50 Index
0.1380
0.1364
0.0842
2018-10-02
Fund Summary
Fund /Class:
Consumer Staples Portfolio
/Fidelity Advisor® Consumer Staples Fund A, M, C, I, Z
Investment Objective
Consumer Staples Portfolio seeks capital appreciation.
Fee Table
The following table describes the fees and expenses that may be incurred when you buy, hold, and
sell shares of the fund. In addition to the fees and expenses described below, your broker may also require you to pay other fees, such as brokerage commissions on purchases and sales of certain
classes of
shares of the fund and other fees to financial intermediaries, which are not reflected in the tables and examples below.
You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $
50,000
in the fund or certain other Fidelity
®
funds. More information about these and other discounts is available from your investment professional and in the "Fund Distribution" section beginning on page
19
of the prospectus.
Different intermediaries may provide additional waivers or reductions of the sales charge. Please see "Sales Charge Waiver Policies Applied by Certain Intermediaries" in the "Appendix" section of the prospectus.
You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $
50,000
in the fund or certain other Fidelity
®
funds. More information about these and other discounts is available from your investment professional and in the "Fund Distribution" section beginning on page
19
of the prospectus.
50000
Shareholder fees
0.0575
0.0350
0
0
0
0
0
Class A and Class M purchases of $1 million or more will not be subject to a front-end sales charge. Such Class A and Class M purchases may be subject, upon redemption, to a contingent deferred sales charge (CDSC) of 1.00% and 0.25%, respectively.
On Class C shares redeemed less than one year after purchase.
Annual Operating Expenses
0.0025
0.0050
0.0100
0
0
0.0098
0.0123
0.0172
0.0071
0.0058
Adjusted to reflect current fees.
This
example
helps compare the cost of investing in the fund with the cost of investing in other funds.
Let's say, hypothetically, that the annual return for shares of the fund is 5% and that the 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 and if you hold your shares:
669
669
471
471
275
175
73
73
59
59
869
869
727
727
542
542
227
227
186
186
1086
1086
1002
1002
933
933
395
395
324
324
1707
1707
1787
1787
1834
1834
883
883
726
726
Portfolio Turnover
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
54
% of the average value of its portfolio.
0.54
Principal Investment Strategies
Normally investing primarily in common stocks.
Normally investing at least 80% of assets in securities of companies principally engaged in the manufacture, sale, or distribution of consumer staples.
Investing in domestic and foreign issuers.
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.
Normally investing at least 80% of assets in securities of companies principally engaged in the manufacture, sale, or distribution of consumer staples.
Principal Investment Risks
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, including different market sectors, and different types of securities can react differently to these developments.
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.
Consumer Staples Industry Concentration.
The consumer staples industries can be significantly affected by demographics and product trends, competitive pricing, food fads, marketing campaigns, environmental factors, government regulation, the performance of the overall economy, interest rates, consumer confidence, and the cost of commodities.
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.
The value of securities of smaller issuers can be more volatile than that of larger issuers.
In addition, the fund is classified as non-diversified under the Investment Company Act of 1940 (1940 Act), which means that it has the ability to 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.
In addition, the fund is classified as non-diversified under the Investment Company Act of 1940 (1940 Act), which means that it has the ability to 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.
Performance
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 Index Information" section of the prospectus.
Past performance (before and after taxes) is not an indication of future performance.
Visit
institutional.fidelity.com
for more recent performance information.
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.
Past performance (before and after taxes) is not an indication of future performance.
institutional.fidelity.com
Year-by-Year Returns
The returns in the bar chart do not reflect any applicable sales charges; if sales charges were reflected, returns would be lower than those shown.
The returns in the bar chart do not reflect any applicable sales charges; if sales charges were reflected, returns would be lower than those shown.
0.1459
0.0163
0.0278
0.1175
-0.1607
0.3138
0.1125
0.1418
-0.0073
0.0270
Highest Quarter Return
0.1713
2019-03-31
Lowest Quarter Return
-0.1665
2020-03-31
Year-to-Date Return
0.0466
2024-03-31
Average Annual Returns
Unlike the returns in the bar chart, the returns in the table reflect the maximum applicable sales charges.
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.
After-tax returns for Class A are shown in the table below and after-tax returns for other classes will vary.
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, such as an employee benefit plan (profit sharing, 401(k), or 403(b) plan).
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.
Unlike the returns in the bar chart, the returns in the table reflect the maximum applicable sales charges.
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.
After-tax returns for Class A are shown in the table below and after-tax returns for other classes will vary.
The after-tax returns shown are not relevant if you hold your shares in a retirement account or in another tax-deferred arrangement, such as an employee benefit plan (profit sharing, 401(k), or 403(b) plan).
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.
Return Before Taxes
-0.0321
0.0991
0.0606
Return After Taxes on Distributions
-0.0433
0.0860
0.0447
Return After Taxes on Distributions and Sale of Fund Shares
-0.0115
0.0771
0.0452
Return Before Taxes
-0.0116
0.1013
0.0602
Return Before Taxes
0.0095
0.1038
0.0605
Return Before Taxes
0.0298
0.1152
0.0698
Return Before Taxes
0.0311
0.1167
S&P 500® Index
0.2629
0.1569
0.1203
MSCI U.S. IMI Consumer Staples 25-50 Index
0.0242
0.1067
0.0842
2018-10-02
Fund Summary
Fund:
Banking Portfolio
Investment Objective
Banking Portfolio seeks capital appreciation.
Fee Table
The following table describes the fees and expenses that may be incurred when you buy, hold, and
sell shares of the fund. In addition to the fees and expenses described below, your broker may also require you to pay brokerage commissions on purchases and sales of the fund, which are not reflected in the table and example below.
Shareholder fees
0
Annual Operating Expenses
0
0.0072
Adjusted to reflect current fees.
This
example
helps compare the cost of investing in the fund with the cost of investing in other funds.
Let's say, hypothetically, that the annual return for shares of the fund is 5% and that the 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:
74
230
401
894
Portfolio Turnover
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
48
% of the average value of its portfolio.
0.48
Principal Investment Strategies
Normally investing primarily in common stocks.
Normally investing at least 80% of assets in securities of companies principally engaged in banking.
Investing in domestic and foreign issuers.
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.
Normally investing at least 80% of assets in securities of companies principally engaged in banking.
Principal Investment Risks
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, including different market sectors, and different types of securities can react differently to these developments.
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.
Banking Industry Concentration.
The banking industry can be significantly affected by legislation, regulation, competition and by changes in general economic conditions and interest rates.
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.
The value of securities of smaller issuers can be more volatile than that of larger issuers.
In addition, the fund is classified as non-diversified under the Investment Company Act of 1940 (1940 Act), which means that it has the ability to 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.
In addition, the fund is classified as non-diversified under the Investment Company Act of 1940 (1940 Act), which means that it has the ability to 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.
Performance
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 Index Information" section of the prospectus.
Past performance (before and after taxes) is not an indication of future performance.
Visit
www.fidelity.com
for more recent performance information.
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.
Past performance (before and after taxes) is not an indication of future performance.
www.fidelity.com
Year-by-Year Returns
0.0758
0.0065
0.2684
0.1268
-0.1828
0.3559
-0.1216
0.3833
-0.1260
0.0846
Highest Quarter Return
0.3928
2020-12-31
Lowest Quarter Return
-0.4351
2020-03-31
Year-to-Date Return
0.0619
2024-03-31
Average Annual Returns
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, such as an employee benefit plan (profit sharing, 401(k), or 403(b) plan).
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.
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.
The after-tax returns shown are not relevant if you hold your shares in a retirement account or in another tax-deferred arrangement, such as an employee benefit plan (profit sharing, 401(k), or 403(b) plan).
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.
Return Before Taxes
0.0846
0.0932
0.0704
Return After Taxes on Distributions
0.0695
0.0768
0.0526
Return After Taxes on Distributions and Sale of Fund Shares
0.0584
0.0708
0.0529
S&P 500® Index
0.2629
0.1569
0.1203
MSCI US IMI Banks 5% Capped Linked Index
0.0333
0.0707
0.0675
Fund Summary
Fund:
Brokerage and Investment Management Portfolio
Investment Objective
Brokerage and Investment Management Portfolio seeks capital appreciation.
Fee Table
The following table describes the fees and expenses that may be incurred when you buy, hold, and
sell shares of the fund. In addition to the fees and expenses described below, your broker may also require you to pay brokerage commissions on purchases and sales of the fund, which are not reflected in the table and example below.
Shareholder fees
0
Annual Operating Expenses
0
0.0070
Adjusted to reflect current fees.
This
example
helps compare the cost of investing in the fund with the cost of investing in other funds.
Let's say, hypothetically, that the annual return for shares of the fund is 5% and that the 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:
72
224
390
871
Portfolio Turnover
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
36
% of the average value of its portfolio.
0.36
Principal Investment Strategies
Normally investing primarily in common stocks.
Normally investing at least 80% of assets in securities of companies principally engaged in the exchange of financial instruments, stock brokerage, commodity brokerage, investment banking, tax-advantaged investment or investment sales, investment management, or related investment advisory and financial decision support services.
Investing in domestic and foreign issuers.
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.
Normally investing at least 80% of assets in securities of companies principally engaged in the exchange of financial instruments, stock brokerage, commodity brokerage, investment banking, tax-advantaged investment or investment sales, investment management, or related investment advisory and financial decision support services.
Principal Investment Risks
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, including different market sectors, and different types of securities can react differently to these developments.
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.
Brokerage and Investment Management Industry Concentration.
The brokerage and investment management industry can be significantly affected by stock and bond market activity, changes in regulations, brokerage commission structure, and a competitive environment combined with the high operating leverage inherent in companies in this industry.
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.
The value of securities of smaller issuers can be more volatile than that of larger issuers.
In addition, the fund is classified as non-diversified under the Investment Company Act of 1940 (1940 Act), which means that it has the ability to 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.
In addition, the fund is classified as non-diversified under the Investment Company Act of 1940 (1940 Act), which means that it has the ability to 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.
Performance
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 Index Information" section of the prospectus.
Past performance (before and after taxes) is not an indication of future performance.
Visit
www.fidelity.com
for more recent performance information.
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.
Past performance (before and after taxes) is not an indication of future performance.
www.fidelity.com
Year-by-Year Returns
0.0524
-0.0971
0.0670
0.2994
-0.1502
0.3160
0.2258
0.4061
-0.1753
0.2775
Highest Quarter Return
0.2348
2020-06-30
Lowest Quarter Return
-0.2086
2020-03-31
Year-to-Date Return
0.0931
2024-03-31
Average Annual Returns
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, such as an employee benefit plan (profit sharing, 401(k), or 403(b) plan).
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.
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.
The after-tax returns shown are not relevant if you hold your shares in a retirement account or in another tax-deferred arrangement, such as an employee benefit plan (profit sharing, 401(k), or 403(b) plan).
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.
Return Before Taxes
0.2775
0.1903
0.1034
Return After Taxes on Distributions
0.2738
0.1831
0.0929
Return After Taxes on Distributions and Sale of Fund Shares
0.1669
0.1533
0.0809
S&P 500® Index
0.2629
0.1569
0.1203
MSCI U.S. IMI Capital Markets 5% Capped Linked Index
0.2829
0.1855
0.1077
Fund Summary
Fund:
Financials Portfolio
Investment Objective
Financials Portfolio seeks capital appreciation.
Fee Table
The following table describes the fees and expenses that may be incurred when you buy, hold, and
sell shares of the fund. In addition to the fees and expenses described below, your broker may also require you to pay brokerage commissions on purchases and sales of the fund, which are not reflected in the table and example below.
Shareholder fees
0
Annual Operating Expenses
0
0.0072
Adjusted to reflect current fees.
This
example
helps compare the cost of investing in the fund with the cost of investing in other funds.
Let's say, hypothetically, that the annual return for shares of the fund is 5% and that the 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:
74
230
401
894
Portfolio Turnover
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
66
% of the average value of its portfolio.
0.66
Principal Investment Strategies
Normally investing primarily in common stocks.
Normally investing at least 80% of assets in securities of companies principally engaged in providing financial services to consumers and industry.
Investing in domestic and foreign issuers.
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.
Normally investing at least 80% of assets in securities of companies principally engaged in providing financial services to consumers and industry.
Principal Investment Risks
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, including different market sectors, and different types of securities can react differently to these developments.
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.
Financials Industry Concentration.
The financials industries are subject to extensive government regulation, can be subject to relatively rapid change due to increasingly blurred distinctions between service segments, and can be significantly affected by availability and cost of capital funds, changes in interest rates, the rate of corporate and consumer debt defaults, and price competition.
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.
The value of securities of smaller issuers can be more volatile than that of larger issuers.
In addition, the fund is classified as non-diversified under the Investment Company Act of 1940 (1940 Act), which means that it has the ability to 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.
In addition, the fund is classified as non-diversified under the Investment Company Act of 1940 (1940 Act), which means that it has the ability to 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.
Performance
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 Index Information" section of the prospectus.
Past performance (before and after taxes) is not an indication of future performance.
Visit
www.fidelity.com
for more recent performance information.
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.
Past performance (before and after taxes) is not an indication of future performance.
www.fidelity.com
Year-by-Year Returns
0.1073
-0.0391
0.1867
0.2094
-0.1586
0.3424
0.0094
0.3324
-0.0817
0.1451
Highest Quarter Return
0.3078
2020-12-31
Lowest Quarter Return
-0.3499
2020-03-31
Year-to-Date Return
0.1083
2024-03-31
Average Annual Returns
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, such as an employee benefit plan (profit sharing, 401(k), or 403(b) plan).
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.
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.
The after-tax returns shown are not relevant if you hold your shares in a retirement account or in another tax-deferred arrangement, such as an employee benefit plan (profit sharing, 401(k), or 403(b) plan).
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.
Return Before Taxes
0.1451
0.1368
0.0933
Return After Taxes on Distributions
0.1365
0.1205
0.0801
Return After Taxes on Distributions and Sale of Fund Shares
0.0912
0.1069
0.0731
S&P 500® Index
0.2629
0.1569
0.1203
MSCI U.S. IMI Financials 5% Capped Linked Index
0.1351
0.1216
0.0993
Fund Summary
Fund:
FinTech Portfolio
Investment Objective
FinTech Portfolio seeks capital appreciation.
Fee Table
The following table describes the fees and expenses that may be incurred when you buy, hold, and
sell shares of the fund. In addition to the fees and expenses described below, your broker may also require you to pay brokerage commissions on purchases and sales of the fund, which are not reflected in the table and example below.
Shareholder fees
0
Annual Operating Expenses
0
0.0076
Adjusted to reflect current fees.
This
example
helps compare the cost of investing in the fund with the cost of investing in other funds.
Let's say, hypothetically, that the annual return for shares of the fund is 5% and that the 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:
78
243
422
942
Portfolio Turnover
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
43
% of the average value of its portfolio.
0.43
Principal Investment Strategies
Normally investing primarily in common stocks.
Normally investing at least 80% of assets in securities of companies principally engaged in providing products and services in fintech.
Investing in domestic and foreign issuers.
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.
Normally investing at least 80% of assets in securities of companies principally engaged in providing products and services in fintech.
Principal Investment Risks
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, including different market sectors, and different types of securities can react differently to these developments.
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.
FinTech Industry Concentration.
The fintech industry can be significantly affected by government regulations, technological innovation and development, competition from established financial companies and other fintech companies, economic conditions, and disruptions in credit markets.
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.
The value of securities of smaller issuers can be more volatile than that of larger issuers.
In addition, the fund is classified as non-diversified under the Investment Company Act of 1940 (1940 Act), which means that it has the ability to 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.
In addition, the fund is classified as non-diversified under the Investment Company Act of 1940 (1940 Act), which means that it has the ability to 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.
Performance
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 Index Information" section of the prospectus.
Past performance (before and after taxes) is not an indication of future performance.
Prior to October 23, 2021, the fund was named Consumer Finance Portfolio and operated under certain different investment policies. The fund's historical performance may not represent its current investment policies.
Visit
www.fidelity.com
for more recent performance information.
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.
Past performance (before and after taxes) is not an indication of future performance.
www.fidelity.com
Year-by-Year Returns
0.0706
-0.0496
0.1459
0.2311
-0.1039
0.3418
0.0223
0.2254
-0.2975
0.2455
Highest Quarter Return
0.2788
2020-12-31
Lowest Quarter Return
-0.4108
2020-03-31
Year-to-Date Return
0.1014
2024-03-31
Average Annual Returns
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, such as an employee benefit plan (profit sharing, 401(k), or 403(b) plan).
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.
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.
The after-tax returns shown are not relevant if you hold your shares in a retirement account or in another tax-deferred arrangement, such as an employee benefit plan (profit sharing, 401(k), or 403(b) plan).
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.
Return Before Taxes
0.2455
0.0802
0.0658
Return After Taxes on Distributions
0.2455
0.0694
0.0489
Return After Taxes on Distributions and Sale of Fund Shares
0.1453
0.0636
0.0491
S&P 500® Index
0.2629
0.1569
0.1203
FactSet Financial Technologies Linked Index
0.2748
0.0745
0.0588
Fund Summary
Fund:
Insurance Portfolio
Investment Objective
Insurance Portfolio seeks capital appreciation.
Fee Table
The following table describes the fees and expenses that may be incurred when you buy, hold, and
sell shares of the fund. In addition to the fees and expenses described below, your broker may also require you to pay brokerage commissions on purchases and sales of the fund, which are not reflected in the table and example below.
Shareholder fees
0
Annual Operating Expenses
0
0.0073
Adjusted to reflect current fees.
This
example
helps compare the cost of investing in the fund with the cost of investing in other funds.
Let's say, hypothetically, that the annual return for shares of the fund is 5% and that the 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:
75
233
406
906
Portfolio Turnover
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
80
% of the average value of its portfolio.
0.80
Principal Investment Strategies
Normally investing primarily in common stocks.
Normally investing at least 80% of assets in securities of companies principally engaged in underwriting, reinsuring, selling, distributing, or placing of property and casualty, life, or health insurance.
Investing in domestic and foreign issuers.
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.
Normally investing at least 80% of assets in securities of companies principally engaged in underwriting, reinsuring, selling, distributing, or placing of property and casualty, life, or health insurance.
Principal Investment Risks
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, including different market sectors, and different types of securities can react differently to these developments.
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.
Insurance Industry Concentration.
The insurance industry is subject to extensive government regulation and can be significantly affected by interest rates, general economic conditions, and price and marketing competition. Different segments of the industry can be significantly affected by natural disasters, mortality and morbidity rates, and environmental clean-up.
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.
The value of securities of smaller issuers can be more volatile than that of larger issuers.
In addition, the fund is classified as non-diversified under the Investment Company Act of 1940 (1940 Act), which means that it has the ability to 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.
In addition, the fund is classified as non-diversified under the Investment Company Act of 1940 (1940 Act), which means that it has the ability to 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.
Performance
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 Index Information" section of the prospectus.
Past performance (before and after taxes) is not an indication of future performance.
Visit
www.fidelity.com
for more recent performance information.
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.
Past performance (before and after taxes) is not an indication of future performance.
www.fidelity.com
Year-by-Year Returns
0.0990
0.0347
0.1817
0.1538
-0.1124
0.3003
-0.0022
0.2930
0.0776
0.1298
Highest Quarter Return
0.1917
2020-12-31
Lowest Quarter Return
-0.2918
2020-03-31
Year-to-Date Return
0.1624
2024-03-31
Average Annual Returns
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, such as an employee benefit plan (profit sharing, 401(k), or 403(b) plan).
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.
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.
The after-tax returns shown are not relevant if you hold your shares in a retirement account or in another tax-deferred arrangement, such as an employee benefit plan (profit sharing, 401(k), or 403(b) plan).
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.
Return Before Taxes
0.1298
0.1535
0.1089
Return After Taxes on Distributions
0.1069
0.1346
0.0849
Return After Taxes on Distributions and Sale of Fund Shares
0.0911
0.1193
0.0813
S&P 500® Index
0.2629
0.1569
0.1203
MSCI U.S. IMI Insurance 25-50 Index
0.1021
0.1433
0.1070
Fund Summary
Fund:
Chemicals Portfolio
Investment Objective
Chemicals Portfolio seeks capital appreciation.
Fee Table
The following table describes the fees and expenses that may be incurred when you buy, hold, and
sell shares of the fund. In addition to the fees and expenses described below, your broker may also require you to pay brokerage commissions on purchases and sales of the fund, which are not reflected in the table and example below.
Shareholder fees
0
Annual Operating Expenses
0
0.0070
Adjusted to reflect current fees.
This
example
helps compare the cost of investing in the fund with the cost of investing in other funds.
Let's say, hypothetically, that the annual return for shares of the fund is 5% and that the 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:
72
224
390
871
Portfolio Turnover
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
19
% of the average value of its portfolio.
0.19
Principal Investment Strategies
Normally investing primarily in common stocks.
Normally investing at least 80% of assets in securities of companies principally engaged in the research, development, manufacture, or marketing of products or services related to the chemical process industries.
Investing in domestic and foreign issuers.
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.
Normally investing at least 80% of assets in securities of companies principally engaged in the research, development, manufacture, or marketing of products or services related to the chemical process industries.
Principal Investment Risks
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, including different market sectors, and different types of securities can react differently to these developments.
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.
Geographic Exposure to Europe.
Because the fund invests a meaningful portion of its assets in Europe, the fund's performance is expected to be closely tied to social, political, and economic conditions within Europe and to be more volatile than the performance of more geographically diversified funds.
Chemicals Industry Concentration.
The chemicals industry can be significantly affected by intense competition, product obsolescence, raw materials prices, and government regulation, and can be subject to risks associated with the production, handling, and disposal of hazardous components.
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.
The value of securities of smaller issuers can be more volatile than that of larger issuers.
In addition, the fund is classified as non-diversified under the Investment Company Act of 1940 (1940 Act), which means that it has the ability to 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.
In addition, the fund is classified as non-diversified under the Investment Company Act of 1940 (1940 Act), which means that it has the ability to 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.
Performance
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 Index Information" section of the prospectus.
Past performance (before and after taxes) is not an indication of future performance.
Visit
www.fidelity.com
for more recent performance information.
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.
Past performance (before and after taxes) is not an indication of future performance.
www.fidelity.com
Year-by-Year Returns
0.0456
-0.0510
0.1798
0.3175
-0.2219
0.0824
0.1751
0.3197
-0.1380
0.1273
Highest Quarter Return
0.2585
2020-06-30
Lowest Quarter Return
-0.2908
2020-03-31
Year-to-Date Return
0.0577
2024-03-31
Average Annual Returns
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, such as an employee benefit plan (profit sharing, 401(k), or 403(b) plan).
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.
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.
The after-tax returns shown are not relevant if you hold your shares in a retirement account or in another tax-deferred arrangement, such as an employee benefit plan (profit sharing, 401(k), or 403(b) plan).
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.
Return Before Taxes
0.1273
0.1028
0.0695
Return After Taxes on Distributions
0.1109
0.0897
0.0530
Return After Taxes on Distributions and Sale of Fund Shares
0.0866
0.0803
0.0517
S&P 500® Index
0.2629
0.1569
0.1203
MSCI U.S. IMI Chemicals 25-50 Index
0.1166
0.1191
0.0852
Fund Summary
Fund /Class:
Gold Portfolio
/Gold Portfolio
Investment Objective
Gold Portfolio seeks capital appreciation.
Fee Table
The following table describes the fees and expenses that may be incurred when you buy, hold, and
sell shares of the fund. In addition to the fees and expenses described below, your broker may also require you to pay other fees, such as brokerage commissions on purchases and sales of certain
classes of
shares of the fund and other fees to financial intermediaries, which are not reflected in the tables and examples below.
Shareholder fees
0
Annual Operating Expenses
0
0.0070
Adjusted to reflect current fees.
This
example
helps compare the cost of investing in the fund with the cost of investing in other funds.
Let's say, hypothetically, that the annual return for shares of the fund is 5% and that the 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:
72
224
390
871
Portfolio Turnover
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
46
% of the average value of its portfolio.
0.46
Principal Investment Strategies
Normally investing primarily in common stocks and in certain precious metals.
Investing primarily in companies engaged in exploration, mining, processing, or dealing in gold, or to a lesser degree, in silver, platinum, diamonds, or other precious metals and minerals.
Normally investing at least 80% of assets in securities of companies principally engaged in gold-related activities, and in gold bullion or coins.
Investing up to 25% of assets in gold and other precious metals through a wholly-owned subsidiary organized under the laws of the Cayman Islands.
Potentially investing in other precious metals, instruments whose value is linked to the price of precious metals, and securities of companies that manufacture and distribute precious metal and minerals products (such as jewelry, watches, and metal foil and leaf) and companies that invest in other companies engaged in gold and other precious metal and mineral-related activities.
Investing in domestic and foreign issuers.
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.
Normally investing at least 80% of assets in securities of companies principally engaged in gold-related activities, and in gold bullion or coins.
Principal Investment Risks
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, including different market sectors, and different types of securities can react differently to these developments.
Foreign Exposure.
Foreign markets, particularly emerging 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.
The extent of economic development; political stability; market depth, infrastructure, and capitalization; and regulatory oversight can be less than in more developed markets. Emerging markets typically have less established legal, accounting and financial reporting systems than those in more developed markets, which may reduce the scope or quality of financial information available to investors.
Emerging markets can be subject to greater social, economic, regulatory, and political uncertainties and can be extremely volatile.
Foreign exchange rates also can be extremely volatile.
Geographic Exposure to Canada.
Because the fund invests a meaningful portion of its assets in Canada, the fund's performance is expected to be closely tied to social, political, and economic conditions within Canada and to be more volatile than the performance of more geographically diversified funds.
Gold Industry Concentration.
The gold industry can be significantly affected by international monetary and political developments such as currency devaluations or revaluations, central bank movements, economic and social conditions within a country, trade imbalances, or trade or currency restrictions between countries, as well as supply and demand for gold and operational costs associated with mining.
Subsidiary Risk.
Investment in Fidelity Select Gold Cayman Ltd., an unregistered subsidiary, is not subject to the investor protections of the Investment Company Act of 1940 (1940 Act) and is subject to the risks associated with the gold industry. Changes in tax and other laws could negatively affect investments in the subsidiary.
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.
The value of securities of smaller issuers can be more volatile than that of larger issuers.
In addition, the fund is classified as non-diversified under the 1940 Act, which means that it has the ability to 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.
In addition, the fund is classified as non-diversified under the 1940 Act, which means that it has the ability to 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.
Performance
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 Index Information" section of the prospectus.
Past performance (before and after taxes) is not an indication of future performance.
Visit
www.fidelity.com
for more recent performance information.
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.
Past performance (before and after taxes) is not an indication of future performance.
www.fidelity.com
Year-by-Year Returns
-0.0851
-0.1788
0.4728
0.0863
-0.1300
0.3550
0.2685
-0.1043
-0.1346
-0.0036
Highest Quarter Return
0.5555
2020-06-30
Lowest Quarter Return
-0.2897
2022-06-30
Year-to-Date Return
0.0221
2024-03-31
Average Annual Returns
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, such as an employee benefit plan (profit sharing, 401(k), or 403(b) plan).
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.
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.
The after-tax returns shown are not relevant if you hold your shares in a retirement account or in another tax-deferred arrangement, such as an employee benefit plan (profit sharing, 401(k), or 403(b) plan).
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.
Return Before Taxes
-0.0036
0.0583
0.0333
Return After Taxes on Distributions
-0.0045
0.0539
0.0297
Return After Taxes on Distributions and Sale of Fund Shares
0.0009
0.0455
0.0255
S&P 500® Index
0.2629
0.1569
0.1203
S&P® Global BMI Gold Capped 20/45 Linked Index
0.1224
0.1072
0.0651
Fund Summary
Fund /Class:
Materials Portfolio
/Materials Portfolio
Investment Objective
Materials Portfolio seeks capital appreciation.
Fee Table
The following table describes the fees and expenses that may be incurred when you buy, hold, and
sell shares of the fund. In addition to the fees and expenses described below, your broker may also require you to pay other fees, such as brokerage commissions on purchases and sales of certain
classes of
shares of the fund and other fees to financial intermediaries, which are not reflected in the tables and examples below.
Shareholder fees
0
Annual Operating Expenses
0
0.0071
Adjusted to reflect current fees.
This
example
helps compare the cost of investing in the fund with the cost of investing in other funds.
Let's say, hypothetically, that the annual return for shares of the fund is 5% and that the 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:
73
227
395
883
Portfolio Turnover
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
51
% of the average value of its portfolio.
0.51
Principal Investment Strategies
Normally investing primarily in common stocks.
Normally investing at least 80% of assets in securities of companies principally engaged in the manufacture, mining, processing, or distribution of raw materials and intermediate goods.
Investing in domestic and foreign issuers.
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.
Normally investing at least 80% of assets in securities of companies principally engaged in the manufacture, mining, processing, or distribution of raw materials and intermediate goods.
Principal Investment Risks
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, including different market sectors, and different types of securities can react differently to these developments.
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.
Geographic Exposure to Europe.
Because the fund invests a meaningful portion of its assets in Europe, the fund's performance is expected to be closely tied to social, political, and economic conditions within Europe and to be more volatile than the performance of more geographically diversified funds.
Materials Industry Concentration.
The materials industries can be significantly affected by the level and volatility of commodity prices, the exchange value of the dollar, import and export controls, worldwide competition, liability for environmental damage, depletion of resources, and mandated expenditures for safety and pollution control.
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.
The value of securities of smaller issuers can be more volatile than that of larger issuers.
In addition, the fund is classified as non-diversified under the Investment Company Act of 1940 (1940 Act), which means that it has the ability to 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.
In addition, the fund is classified as non-diversified under the Investment Company Act of 1940 (1940 Act), which means that it has the ability to 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.
Performance
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 Index Information" section of the prospectus.
Past performance (before and after taxes) is not an indication of future performance.
Visit
www.fidelity.com
for more recent performance information.
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.
Past performance (before and after taxes) is not an indication of future performance.
www.fidelity.com
Year-by-Year Returns
-0.0006
-0.0868
0.1199
0.2622
-0.2365
0.1240
0.2178
0.3167
-0.0985
0.0731
Highest Quarter Return
0.2428
2020-06-30
Lowest Quarter Return
-0.2630
2020-03-31
Year-to-Date Return
0.0916
2024-03-31
Average Annual Returns
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, such as an employee benefit plan (profit sharing, 401(k), or 403(b) plan).
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.
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.
The after-tax returns shown are not relevant if you hold your shares in a retirement account or in another tax-deferred arrangement, such as an employee benefit plan (profit sharing, 401(k), or 403(b) plan).
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.
Return Before Taxes
0.0731
0.1176
0.0556
Return After Taxes on Distributions
0.0595
0.1117
0.0455
Return After Taxes on Distributions and Sale of Fund Shares
0.0526
0.0935
0.0421
S&P 500® Index
0.2629
0.1569
0.1203
MSCI U.S. IMI Materials 25-50 Index
0.1380
0.1364
0.0842
Fund Summary
Fund:
Defense and Aerospace Portfolio
Investment Objective
Defense and Aerospace Portfolio seeks capital appreciation.
Fee Table
The following table describes the fees and expenses that may be incurred when you buy, hold, and
sell shares of the fund. In addition to the fees and expenses described below, your broker may also require you to pay brokerage commissions on purchases and sales of the fund, which are not reflected in the table and example below.
Shareholder fees
0
Annual Operating Expenses
0
0.0068
Adjusted to reflect current fees.
This
example
helps compare the cost of investing in the fund with the cost of investing in other funds.
Let's say, hypothetically, that the annual return for shares of the fund is 5% and that the 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:
69
218
379
847
Portfolio Turnover
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
16
% of the average value of its portfolio.
0.16
Principal Investment Strategies
Normally investing primarily in common stocks.
Normally investing at least 80% of assets in securities of companies principally engaged in the research, manufacture, or sale of products or services related to the defense or aerospace industries.
Investing in domestic and foreign issuers.
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.
Normally investing at least 80% of assets in securities of companies principally engaged in the research, manufacture, or sale of products or services related to the defense or aerospace industries.
Principal Investment Risks
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, including different market sectors, and different types of securities can react differently to these developments.
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.
Defense and Aerospace Industry Concentration.
The defense and aerospace industry can be significantly affected by government defense and aerospace regulation and spending policies.
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.
The value of securities of smaller issuers can be more volatile than that of larger issuers.
In addition, the fund is classified as non-diversified under the Investment Company Act of 1940 (1940 Act), which means that it has the ability to 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.
In addition, the fund is classified as non-diversified under the Investment Company Act of 1940 (1940 Act), which means that it has the ability to 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.
Performance
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 Index Information" section of the prospectus.
Past performance (before and after taxes) is not an indication of future performance.
Visit
www.fidelity.com
for more recent performance information.
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.
Past performance (before and after taxes) is not an indication of future performance.
www.fidelity.com
Year-by-Year Returns
0.0292
0.0360
0.1789
0.3421
-0.0674
0.3374
-0.0797
0.0488
0.0694
0.1621
Highest Quarter Return
0.2553
2022-12-31
Lowest Quarter Return
-0.3277
2020-03-31
Year-to-Date Return
0.0360
2024-03-31
Average Annual Returns
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, such as an employee benefit plan (profit sharing, 401(k), or 403(b) plan).
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.
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.
The after-tax returns shown are not relevant if you hold your shares in a retirement account or in another tax-deferred arrangement, such as an employee benefit plan (profit sharing, 401(k), or 403(b) plan).
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.
Return Before Taxes
0.1621
0.0991
0.0970
Return After Taxes on Distributions
0.1448
0.0846
0.0816
Return After Taxes on Distributions and Sale of Fund Shares
0.1078
0.0767
0.0757
S&P 500® Index
0.2629
0.1569
0.1203
MSCI U.S. IMI Aerospace & Defense 25-50 Index
0.1482
0.1111
0.1200
Fund Summary
Fund:
Industrials Portfolio
Investment Objective
Industrials Portfolio seeks capital appreciation.
Fee Table
The following table describes the fees and expenses that may be incurred when you buy, hold, and
sell shares of the fund. In addition to the fees and expenses described below, your broker may also require you to pay brokerage commissions on purchases and sales of the fund, which are not reflected in the table and example below.
Shareholder fees
0
Annual Operating Expenses
0
0.0069
Adjusted to reflect current fees.
This
example
helps compare the cost of investing in the fund with the cost of investing in other funds.
Let's say, hypothetically, that the annual return for shares of the fund is 5% and that the 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:
70
221
384
859
Portfolio Turnover
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
115
% of the average value of its portfolio.
1.15
Principal Investment Strategies
Normally investing primarily in common stocks.
Normally investing at least 80% of assets in securities of companies principally engaged in the research, development, manufacture, distribution, supply, or sale of industrial products, services, or equipment.
Investing in domestic and foreign issuers.
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.
Normally investing at least 80% of assets in securities of companies principally engaged in the research, development, manufacture, distribution, supply, or sale of industrial products, services, or equipment.
Principal Investment Risks
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, including different market sectors, and different types of securities can react differently to these developments.
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.
Industrials Industry Concentration.
Industrial industries can be significantly affected by general economic trends, changes in consumer sentiment and spending, commodity prices, legislation, government regulation and spending, import controls, worldwide competition, and liability for environmental damage, depletion of resources, and mandated expenditures for safety and pollution control.
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.
The value of securities of smaller issuers can be more volatile than that of larger issuers.
High Portfolio Turnover.
High portfolio turnover (more than 100%) may result in increased transaction costs and potentially higher capital gains or losses. The effects of higher than normal portfolio turnover may adversely affect the fund's performance.
In addition, the fund is classified as non-diversified under the Investment Company Act of 1940 (1940 Act), which means that it has the ability to 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.
In addition, the fund is classified as non-diversified under the Investment Company Act of 1940 (1940 Act), which means that it has the ability to 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.
Performance
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 Index Information" section of the prospectus.
Past performance (before and after taxes) is not an indication of future performance.
Visit
www.fidelity.com
for more recent performance information.
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.
Past performance (before and after taxes) is not an indication of future performance.
www.fidelity.com
Year-by-Year Returns
0.0581
-0.0197
0.1553
0.2008
-0.1527
0.2799
0.1174
0.1708
-0.1044
0.2312
Highest Quarter Return
0.1996
2020-06-30
Lowest Quarter Return
-0.2864
2020-03-31
Year-to-Date Return
0.1608
2024-03-31
Average Annual Returns
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, such as an employee benefit plan (profit sharing, 401(k), or 403(b) plan).
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.
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.
The after-tax returns shown are not relevant if you hold your shares in a retirement account or in another tax-deferred arrangement, such as an employee benefit plan (profit sharing, 401(k), or 403(b) plan).
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.
Return Before Taxes
0.2312
0.1305
0.0845
Return After Taxes on Distributions
0.2104
0.1055
0.0634
Return After Taxes on Distributions and Sale of Fund Shares
0.1442
0.0986
0.0626
S&P 500® Index
0.2629
0.1569
0.1203
MSCI U.S. IMI Industrials 25-50 Index
0.2247
0.1470
0.1013
Fund Summary
Fund:
Transportation Portfolio
Investment Objective
Transportation Portfolio seeks capital appreciation.
Fee Table
The following table describes the fees and expenses that may be incurred when you buy, hold, and
sell shares of the fund. In addition to the fees and expenses described below, your broker may also require you to pay brokerage commissions on purchases and sales of the fund, which are not reflected in the table and example below.
Shareholder fees
0
Annual Operating Expenses
0
0.0070
Adjusted to reflect current fees.
This
example
helps compare the cost of investing in the fund with the cost of investing in other funds.
Let's say, hypothetically, that the annual return for shares of the fund is 5% and that the 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:
72
224
390
871
Portfolio Turnover
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
33
% of the average value of its portfolio.
0.33
Principal Investment Strategies
Normally investing primarily in common stocks.
Investing in domestic and foreign issuers.
Normally investing at least 80% of assets in securities of companies principally engaged in providing transportation services or companies principally engaged in the design, manufacture, distribution, or sale of transportation equipment.
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.
Normally investing at least 80% of assets in securities of companies principally engaged in providing transportation services or companies principally engaged in the design, manufacture, distribution, or sale of transportation equipment.
Principal Investment Risks
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, including different market sectors, and different types of securities can react differently to these developments.
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.
Transportation Industry Concentration.
The transportation industry can be significantly affected by changes in the economy, fuel prices, labor relations, insurance costs, and government regulation.
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.
The value of securities of smaller issuers can be more volatile than that of larger issuers.
In addition, the fund is classified as non-diversified under the Investment Company Act of 1940 (1940 Act), which means that it has the ability to 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.
In addition, the fund is classified as non-diversified under the Investment Company Act of 1940 (1940 Act), which means that it has the ability to 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.
Performance
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 Index Information" section of the prospectus.
Past performance (before and after taxes) is not an indication of future performance.
Visit
www.fidelity.com
for more recent performance information.
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.
Past performance (before and after taxes) is not an indication of future performance.
www.fidelity.com
Year-by-Year Returns
0.3401
-0.1851
0.2590
0.2220
-0.1093
0.1839
0.1236
0.2773
-0.1016
0.1924
Highest Quarter Return
0.1982
2020-09-30
Lowest Quarter Return
-0.2906
2020-03-31
Year-to-Date Return
0.0791
2024-03-31
Average Annual Returns
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, such as an employee benefit plan (profit sharing, 401(k), or 403(b) plan).
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.
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.
The after-tax returns shown are not relevant if you hold your shares in a retirement account or in another tax-deferred arrangement, such as an employee benefit plan (profit sharing, 401(k), or 403(b) plan).
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.
Return Before Taxes
0.1924
0.1273
0.1054
Return After Taxes on Distributions
0.1842
0.1070
0.0882
Return After Taxes on Distributions and Sale of Fund Shares
0.1185
0.0973
0.0820
S&P 500® Index
0.2629
0.1569
0.1203
MSCI U.S. IMI Transportation 25-50 Index
0.2207
0.1215
0.0999
Fund Summary
Fund /Class:
Telecommunications Portfolio
/Telecommunications Portfolio
Investment Objective
Telecommunications Portfolio seeks capital appreciation.
Fee Table
The following table describes the fees and expenses that may be incurred when you buy, hold, and
sell shares of the fund. In addition to the fees and expenses described below, your broker may also require you to pay other fees, such as brokerage commissions on purchases and sales of certain
classes of
shares of the fund and other fees to financial intermediaries, which are not reflected in the tables and examples below.
Shareholder fees
0
Annual Operating Expenses
0
0.0077
Adjusted to reflect current fees.
This
example
helps compare the cost of investing in the fund with the cost of investing in other funds.
Let's say, hypothetically, that the annual return for shares of the fund is 5% and that the 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:
79
246
428
954
Portfolio Turnover
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.
0.26
Principal Investment Strategies
Normally investing primarily in common stocks.
Normally investing at least 80% of assets in securities of companies principally engaged in the development, production, or distribution of telecommunications services.
Investing in domestic and foreign issuers.
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.
Normally investing at least 80% of assets in securities of companies principally engaged in the development, production, or distribution of telecommunications services.
Principal Investment Risks
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, including different market sectors, and different types of securities can react differently to these developments.
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.
Telecom Services Industry Concentration.
The telecom services industry is subject to government regulation and can be significantly affected by intense competition and technology changes.
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.
The value of securities of smaller issuers can be more volatile than that of larger issuers.
In addition, the fund is classified as non-diversified under the Investment Company Act of 1940 (1940 Act), which means that it has the ability to 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.
In addition, the fund is classified as non-diversified under the Investment Company Act of 1940 (1940 Act), which means that it has the ability to 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.
Performance
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 Index Information" section of the prospectus.
Past performance (before and after taxes) is not an indication of future performance.
Visit
www.fidelity.com
for more recent performance information.
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.
Past performance (before and after taxes) is not an indication of future performance.
www.fidelity.com
Year-by-Year Returns
0.0361
0.0231
0.2281
0.0169
-0.0802
0.2040
0.2061
-0.0278
-0.1699
0.0727
Highest Quarter Return
0.1544
2020-06-30
Lowest Quarter Return
-0.1904
2022-09-30
Year-to-Date Return
-0.0199
2024-03-31
Average Annual Returns
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, such as an employee benefit plan (profit sharing, 401(k), or 403(b) plan).
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.
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.
The after-tax returns shown are not relevant if you hold your shares in a retirement account or in another tax-deferred arrangement, such as an employee benefit plan (profit sharing, 401(k), or 403(b) plan).
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.
Return Before Taxes
0.0727
0.0468
0.0435
Return After Taxes on Distributions
0.0629
0.0281
0.0257
Return After Taxes on Distributions and Sale of Fund Shares
0.0493
0.0363
0.0328
S&P 500® Index
0.2629
0.1569
0.1203
MSCI U.S. IM Telecommunication Services 25-50 Index
0.0673
0.0236
0.0243
Fund Summary
Fund:
Wireless Portfolio
Investment Objective
Wireless Portfolio seeks capital appreciation.
Fee Table
The following table describes the fees and expenses that may be incurred when you buy, hold, and
sell shares of the fund. In addition to the fees and expenses described below, your broker may also require you to pay brokerage commissions on purchases and sales of the fund, which are not reflected in the table and example below.
Shareholder fees
0
Annual Operating Expenses
0
0.0073
Adjusted to reflect current fees.
This
example
helps compare the cost of investing in the fund with the cost of investing in other funds.
Let's say, hypothetically, that the annual return for shares of the fund is 5% and that the 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:
75
233
406
906
Portfolio Turnover
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
22
% of the average value of its portfolio.
0.22
Principal Investment Strategies
Normally investing primarily in common stocks.
Normally investing at least 80% of assets in securities of companies principally engaged in activities relating to wireless communications services or products.
Investing in domestic and foreign issuers.
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.
Normally investing at least 80% of assets in securities of companies principally engaged in activities relating to wireless communications services or products.
Principal Investment Risks
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, including different market sectors, and different types of securities can react differently to these developments.
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.
Wireless Industry Concentration.
The wireless industry can be significantly affected by failure or delays in obtaining financing or regulatory approval, intense competition, product incompatibility, changing consumer preferences, rapid obsolescence, significant capital expenditures, and heavy debt burdens.
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.
The value of securities of smaller issuers can be more volatile than that of larger issuers.
In addition, the fund is classified as non-diversified under the Investment Company Act of 1940 (1940 Act), which means that it has the ability to 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.
In addition, the fund is classified as non-diversified under the Investment Company Act of 1940 (1940 Act), which means that it has the ability to 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.
Performance
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 Index Information" section of the prospectus.
Past performance (before and after taxes) is not an indication of future performance.
Visit
www.fidelity.com
for more recent performance information.
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.
Past performance (before and after taxes) is not an indication of future performance.
www.fidelity.com
Year-by-Year Returns
0.0298
-0.0309
0.1007
0.2502
-0.0621
0.4014
0.3309
0.1214
-0.2781
0.2593
Highest Quarter Return
0.2439
2020-06-30
Lowest Quarter Return
-0.1542
2022-06-30
Year-to-Date Return
0.0283
2024-03-31
Average Annual Returns
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, such as an employee benefit plan (profit sharing, 401(k), or 403(b) plan).
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.
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.
The after-tax returns shown are not relevant if you hold your shares in a retirement account or in another tax-deferred arrangement, such as an employee benefit plan (profit sharing, 401(k), or 403(b) plan).
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.
Return Before Taxes
0.2593
0.1371
0.0937
Return After Taxes on Distributions
0.2523
0.1206
0.0730
Return After Taxes on Distributions and Sale of Fund Shares
0.1585
0.1077
0.0700
S&P 500® Index
0.2629
0.1569
0.1203
Fidelity Wireless Index℠
0.1699
0.1039
0.0683
Fund Summary
Fund /Class:
Communication Services Portfolio
/Fidelity Advisor® Communication Services Fund A, M, C, I, Z
Investment Objective
Communication Services Portfolio seeks capital appreciation.
Fee Table
The following table describes the fees and expenses that may be incurred when you buy, hold, and
sell shares of the fund. In addition to the fees and expenses described below, your broker may also require you to pay other fees, such as brokerage commissions on purchases and sales of certain
classes of
shares of the fund and other fees to financial intermediaries, which are not reflected in the tables and examples below.
You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $
50,000
in the fund or certain other Fidelity
®
funds. More information about these and other discounts is available from your investment professional and in the "Fund Distribution" section beginning on page
19
of the prospectus.
Different intermediaries may provide additional waivers or reductions of the sales charge. Please see "Sales Charge Waiver Policies Applied by Certain Intermediaries" in the "Appendix" section of the prospectus.
You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $
50,000
in the fund or certain other Fidelity
®
funds. More information about these and other discounts is available from your investment professional and in the "Fund Distribution" section beginning on page
19
of the prospectus.
50000
Shareholder fees
0.0575
0.0350
0
0
0
0
0
Class A and Class M purchases of $1 million or more will not be subject to a front-end sales charge. Such Class A and Class M purchases may be subject, upon redemption, to a contingent deferred sales charge (CDSC) of 1.00% and 0.25%, respectively.
On Class C shares redeemed less than one year after purchase.
Annual Operating Expenses
0.0025
0.0050
0.0100
0
0
0.0099
0.0124
0.0174
0.0071
0.0058
Adjusted to reflect current fees.
This
example
helps compare the cost of investing in the fund with the cost of investing in other funds.
Let's say, hypothetically, that the annual return for shares of the fund is 5% and that the 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 and if you hold your shares:
670
670
472
472
277
177
73
73
59
59
872
872
730
730
548
548
227
227
186
186
1091
1091
1007
1007
944
944
395
395
324
324
1718
1718
1797
1797
1853
1853
883
883
726
726
Portfolio Turnover
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
45
% of the average value of its portfolio.
0.45
Principal Investment Strategies
Normally investing primarily in common stocks.
Normally investing at least 80% of assets in securities of companies principally engaged in the development, production, or distribution of communication services.
Investing in domestic and foreign issuers.
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.
Normally investing at least 80% of assets in securities of companies principally engaged in the development, production, or distribution of communication services.
Principal Investment Risks
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, including different market sectors, and different types of securities can react differently to these developments.
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.
Communication Services Concentration.
The communication services industries can be significantly affected by government regulation, intense competition, technology changes, general economic conditions, consumer and business confidence and spending, and changes in consumer and business preferences.
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.
The value of securities of smaller issuers can be more volatile than that of larger issuers.
In addition, the fund is classified as non-diversified under the Investment Company Act of 1940 (1940 Act), which means that it has the ability to 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.
In addition, the fund is classified as non-diversified under the Investment Company Act of 1940 (1940 Act), which means that it has the ability to 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.
Performance
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 Index Information" section of the prospectus.
Past performance (before and after taxes) is not an indication of future performance.
Prior to December 1, 2018, the fund was named Multimedia Portfolio, and the fund operated under certain different investment policies and compared its performance to a different additional index. The fund's historical performance may not represent its current investment policies.
Visit
institutional.fidelity.com
for more recent performance information.
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.
Past performance (before and after taxes) is not an indication of future performance.
institutional.fidelity.com
Year-by-Year Returns
The returns in the bar chart do not reflect any applicable sales charges; if sales charges were reflected, returns would be lower than those shown.
The returns in the bar chart do not reflect any applicable sales charges; if sales charges were reflected, returns would be lower than those shown.
0.3226
0.3498
0.1563
-0.3847
0.5640
Highest Quarter Return
0.2638
2020-06-30
Lowest Quarter Return
-0.2229
2022-06-30
Year-to-Date Return
0.1162
2024-03-31
Average Annual Returns
Unlike the returns in the bar chart, the returns in the table reflect the maximum applicable sales charges.
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.
After-tax returns for Class A are shown in the table below and after-tax returns for other classes will vary.
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, such as an employee benefit plan (profit sharing, 401(k), or 403(b) plan).
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.
Unlike the returns in the bar chart, the returns in the table reflect the maximum applicable sales charges.
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.
After-tax returns for Class A are shown in the table below and after-tax returns for other classes will vary.
The after-tax returns shown are not relevant if you hold your shares in a retirement account or in another tax-deferred arrangement, such as an employee benefit plan (profit sharing, 401(k), or 403(b) plan).
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.
Return Before Taxes
0.4741
0.1337
Return After Taxes on Distributions
0.4741
0.1110
Return After Taxes on Distributions and Sale of Fund Shares
0.2807
0.1005
Return Before Taxes
0.5057
0.1362
Return Before Taxes
0.5430
0.1388
Return Before Taxes
0.5689
0.1507
Return Before Taxes
0.5712
0.1522
S&P 500® Index
0.2629
0.1569
MSCI U.S. IMI Communication Services 25-50 (Media Linked) Index
0.4441
0.1070
2018-11-30
2018-11-30
2018-11-30
2018-11-30
2018-11-30
Fund Summary
Fund /Class:
Telecommunications Portfolio
/Fidelity Advisor® Telecommunications Fund A, M, C, I, Z
Investment Objective
Telecommunications Portfolio seeks capital appreciation.
Fee Table
The following table describes the fees and expenses that may be incurred when you buy, hold, and
sell shares of the fund. In addition to the fees and expenses described below, your broker may also require you to pay other fees, such as brokerage commissions on purchases and sales of certain
classes of
shares of the fund and other fees to financial intermediaries, which are not reflected in the tables and examples below.
You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $
50,000
in the fund or certain other Fidelity
®
funds. More information about these and other discounts is available from your investment professional and in the "Fund Distribution" section beginning on page
19
of the prospectus.
Different intermediaries may provide additional waivers or reductions of the sales charge. Please see "Sales Charge Waiver Policies Applied by Certain Intermediaries" in the "Appendix" section of the prospectus.
You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $
50,000
in the fund or certain other Fidelity
®
funds. More information about these and other discounts is available from your investment professional and in the "Fund Distribution" section beginning on page
19
of the prospectus.
50000
Shareholder fees
0.0575
0.0350
0
0
0
0
0
Class A and Class M purchases of $1 million or more will not be subject to a front-end sales charge. Such Class A and Class M purchases may be subject, upon redemption, to a contingent deferred sales charge (CDSC) of 1.00% and 0.25%, respectively.
On Class C shares redeemed less than one year after purchase.
Annual Operating Expenses
0.0025
0.0050
0.0100
0
0
0.0105
0.0130
0.0180
0.0075
0.0064
Adjusted to reflect current fees.
This
example
helps compare the cost of investing in the fund with the cost of investing in other funds.
Let's say, hypothetically, that the annual return for shares of the fund is 5% and that the 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 and if you hold your shares:
676
676
478
478
283
183
77
77
65
65
890
890
748
748
566
566
240
240
205
205
1121
1121
1038
1038
975
975
417
417
357
357
1784
1784
1863
1863
1919
1919
930
930
798
798
Portfolio Turnover
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.
0.26
Principal Investment Strategies
Normally investing primarily in common stocks.
Normally investing at least 80% of assets in securities of companies principally engaged in the development, production, or distribution of telecommunications services.
Investing in domestic and foreign issuers.
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.
Normally investing at least 80% of assets in securities of companies principally engaged in the development, production, or distribution of telecommunications services.
Principal Investment Risks
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, including different market sectors, and different types of securities can react differently to these developments.
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.
Telecom Services Industry Concentration.
The telecom services industry is subject to government regulation and can be significantly affected by intense competition and technology changes.
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.
The value of securities of smaller issuers can be more volatile than that of larger issuers.
In addition, the fund is classified as non-diversified under the Investment Company Act of 1940 (1940 Act), which means that it has the ability to 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.
In addition, the fund is classified as non-diversified under the Investment Company Act of 1940 (1940 Act), which means that it has the ability to 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.
Performance
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 Index Information" section of the prospectus.
Past performance (before and after taxes) is not an indication of future performance.
Visit
institutional.fidelity.com
for more recent performance information.
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.
Past performance (before and after taxes) is not an indication of future performance.
institutional.fidelity.com
Year-by-Year Returns
The returns in the bar chart do not reflect any applicable sales charges; if sales charges were reflected, returns would be lower than those shown.
The returns in the bar chart do not reflect any applicable sales charges; if sales charges were reflected, returns would be lower than those shown.
0.0327
0.0196
0.2239
0.0137
-0.0833
0.1996
0.2022
-0.0306
-0.1723
0.0695
Highest Quarter Return
0.1534
2020-06-30
Lowest Quarter Return
-0.1912
2022-09-30
Year-to-Date Return
-0.0205
2024-03-31
Average Annual Returns
Unlike the returns in the bar chart, the returns in the table reflect the maximum applicable sales charges.
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.
After-tax returns for Class A are shown in the table below and after-tax returns for other classes will vary.
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, such as an employee benefit plan (profit sharing, 401(k), or 403(b) plan).
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.
Unlike the returns in the bar chart, the returns in the table reflect the maximum applicable sales charges.
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.
After-tax returns for Class A are shown in the table below and after-tax returns for other classes will vary.
The after-tax returns shown are not relevant if you hold your shares in a retirement account or in another tax-deferred arrangement, such as an employee benefit plan (profit sharing, 401(k), or 403(b) plan).
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.
Return Before Taxes
0.0080
0.0313
0.0340
Return After Taxes on Distributions
-0.0006
0.0135
0.0171
Return After Taxes on Distributions and Sale of Fund Shares
0.0102
0.0242
0.0254
Return Before Taxes
0.0297
0.0333
0.0333
Return Before Taxes
0.0513
0.0359
0.0341
Return Before Taxes
0.0734
0.0470
0.0435
Return Before Taxes
0.0745
0.0484
S&P 500® Index
0.2629
0.1569
0.1203
MSCI U.S. IM Telecommunication Services 25-50 Index
0.0673
0.0236
0.0243
2018-10-02
Fund Summary
Fund /Class:
Consumer Staples Portfolio
/Consumer Staples Portfolio
Investment Objective
Consumer Staples Portfolio seeks capital appreciation.
Fee Table
The following table describes the fees and expenses that may be incurred when you buy, hold, and
sell shares of the fund. In addition to the fees and expenses described below, your broker may also require you to pay other fees, such as brokerage commissions on purchases and sales of certain
classes of
shares of the fund and other fees to financial intermediaries, which are not reflected in the tables and examples below.
Shareholder fees
0
Annual Operating Expenses
0
0.0069
Adjusted to reflect current fees.
This
example
helps compare the cost of investing in the fund with the cost of investing in other funds.
Let's say, hypothetically, that the annual return for shares of the fund is 5% and that the 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:
70
221
384
859
Portfolio Turnover
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
54
% of the average value of its portfolio.
0.54
Principal Investment Strategies
Normally investing primarily in common stocks.
Normally investing at least 80% of assets in securities of companies principally engaged in the manufacture, sale, or distribution of consumer staples.
Investing in domestic and foreign issuers.
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.
Normally investing at least 80% of assets in securities of companies principally engaged in the manufacture, sale, or distribution of consumer staples.
Principal Investment Risks
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, including different market sectors, and different types of securities can react differently to these developments.
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.
Consumer Staples Industry Concentration.
The consumer staples industries can be significantly affected by demographics and product trends, competitive pricing, food fads, marketing campaigns, environmental factors, government regulation, the performance of the overall economy, interest rates, consumer confidence, and the cost of commodities.
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.
The value of securities of smaller issuers can be more volatile than that of larger issuers.
In addition, the fund is classified as non-diversified under the Investment Company Act of 1940 (1940 Act), which means that it has the ability to 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.
In addition, the fund is classified as non-diversified under the Investment Company Act of 1940 (1940 Act), which means that it has the ability to 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.
Performance
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 Index Information" section of the prospectus.
Past performance (before and after taxes) is not an indication of future performance.
Visit
www.fidelity.com
for more recent performance information.
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.
Past performance (before and after taxes) is not an indication of future performance.
www.fidelity.com
Year-by-Year Returns
0.1491
0.0190
0.0307
0.1206
-0.1582
0.3177
0.1157
0.1450
-0.0044
0.0299
Highest Quarter Return
0.1722
2019-03-31
Lowest Quarter Return
-0.1658
2020-03-31
Year-to-Date Return
0.0474
2024-03-31
Average Annual Returns
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, such as an employee benefit plan (profit sharing, 401(k), or 403(b) plan).
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.
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.
The after-tax returns shown are not relevant if you hold your shares in a retirement account or in another tax-deferred arrangement, such as an employee benefit plan (profit sharing, 401(k), or 403(b) plan).
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.
Return Before Taxes
0.0299
0.1153
0.0699
Return After Taxes on Distributions
0.0170
0.1014
0.0533
Return After Taxes on Distributions and Sale of Fund Shares
0.0256
0.0902
0.0527
S&P 500® Index
0.2629
0.1569
0.1203
MSCI U.S. IMI Consumer Staples 25-50 Index
0.0242
0.1067
0.0842
Fund Summary
Fund:
Semiconductors Portfolio
Investment Objective
Semiconductors
Portfolio seeks capital appreciation.
Fee Table
The following table describes the fees and expenses that may be incurred when you buy, hold, and
sell shares of the fund. In addition to the fees and expenses described below, your broker may also require you to pay brokerage commissions on purchases and sales of the fund
, which are not reflected in the table and example below.
Shareholder fees
0
Annual
Operating Expenses
0
0.0065
Adjusted to reflect current fees.
This
example
helps compare the cost of investing in the fund with the cost of investing in other funds.
Let's say, hypothetically, that the annual return for shares of the fund is 5% and that the 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:
66
208
362
810
Portfolio Turnover
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
32
% of the average value of its portfolio.
0.32
Principal Investment Strategies
Normally investing primarily in common stocks.
Normally investing at least 80% of assets in securities of companies principally engaged in the design, manufacture, or sale of semiconductors and semiconductor equipment.
Investing in domestic and foreign issuers.
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.
Normally investing at least 80% of assets in securities of companies principally engaged in the design, manufacture, or sale of semiconductors and semiconductor equipment.
Principal Investment Risks
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, including different market sectors, and different types of securities can react differently to these developments.
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.
Electronics Industry Concentration.
The electronics industry can be significantly affected by rapid obsolescence, intense competition, and global demand.
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.
The value of securities of smaller issuers can be more volatile than that of larger issuers.
In addition, the fund is classified as non-diversified under the Investment Company Act of 1940 (1940 Act), which means that it has the ability to 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.
In addition, the fund is classified as non-diversified under the Investment Company Act of 1940 (1940 Act), which means that it has the ability to 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.
Performance
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 Index Information" section of the prospectus.
Past performance (before and after taxes) is not an indication of future performance.
Visit
www.fidelity.com
for more recent performance information.
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.
Past performance (before and after taxes) is not an indication of future performance.
www.fidelity.com
Year-by-Year Returns
0.3837
0.0224
0.3238
0.3506
-0.1175
0.6446
0.4401
0.5919
-0.3518
0.7814
Highest Quarter Return
0.3888
2023-03-31
Lowest Quarter Return
-0.2926
2022-06-30
Year-to-Date Return
0.2713
2024-03-31
Average Annual Returns
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, such as an employee benefit plan (profit sharing, 401(k), or 403(b) plan).
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.
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.
The after-tax returns shown are not relevant if you hold your shares in a retirement account or in another tax-deferred arrangement, such as an employee benefit plan (profit sharing, 401(k), or 403(b) plan).
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.
Return Before Taxes
0.7814
0.3421
0.2553
Return After Taxes on Distributions
0.7524
0.3186
0.2228
Return After Taxes on Distributions and Sale of Fund Shares
0.4827
0.2798
0.2040
S&P 500® Index
0.2629
0.1569
0.1203
MSCI U.S. IMI Semiconductors & Semiconductor Equipment 25-50 Index
0.8673
0.3387
0.2495
Fund Summary
Fund:
Software and IT Services Portfolio
Investment Objective
Software and IT Services Portfolio seeks capital appreciation.
Fee Table
The following table describes the fees and expenses that may be incurred when you buy, hold, and
sell shares of the fund. In addition to the fees and expenses described below, your broker may also require you to pay brokerage commissions on purchases and sales of the fund, which are not reflected in the table and example below.
Shareholder fees
0
Annual Operating Expenses
0
0.0064
Adjusted to reflect current fees.
This
example
helps compare the cost of investing in the fund with the cost of investing in other funds.
Let's say, hypothetically, that the annual return for shares of the fund is 5% and that the 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:
65
205
357
798
Portfolio Turnover
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
31
% of the average value of its portfolio.
0.31
Principal Investment Strategies
Normally investing primarily in common stocks.
Normally investing at least 80% of assets in securities of companies principally engaged in research, design, production, or distribution of products or processes that relate to software or information-based services.
Investing in domestic and foreign issuers.
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.
Normally investing at least 80% of assets in securities of companies principally engaged in research, design, production, or distribution of products or processes that relate to software or information-based services.
Principal Investment Risks
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, including different market sectors, and different types of securities can react differently to these developments.
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.
Software and Information Technology Services Industry Concentration.
The software and information technology services industry can be significantly affected by intense competition, aggressive pricing, technological innovations, and product obsolescence.
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.
The value of securities of smaller issuers can be more volatile than that of larger issuers.
In addition, the fund is classified as non-diversified under the Investment Company Act of 1940 (1940 Act), which means that it has the ability to 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.
In addition, the fund is classified as non-diversified under the Investment Company Act of 1940 (1940 Act), which means that it has the ability to 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.
Performance
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 Index Information" section of the prospectus.
Past performance (before and after taxes) is not an indication of future performance.
Visit
www.fidelity.com
for more recent performance information.
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.
Past performance (before and after taxes) is not an indication of future performance.
www.fidelity.com
Year-by-Year Returns
0.0822
0.1047
0.1031
0.3853
0.0419
0.3887
0.4537
0.1812
-0.2907
0.5156
Highest Quarter Return
0.3205
2020-06-30
Lowest Quarter Return
-0.1927
2022-06-30
Year-to-Date Return
0.0379
2024-03-31
Average Annual Returns
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, such as an employee benefit plan (profit sharing, 401(k), or 403(b) plan).
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.
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.
The after-tax returns shown are not relevant if you hold your shares in a retirement account or in another tax-deferred arrangement, such as an employee benefit plan (profit sharing, 401(k), or 403(b) plan).
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.
Return Before Taxes
0.5156
0.2072
0.1717
Return After Taxes on Distributions
0.4897
0.1835
0.1502
Return After Taxes on Distributions and Sale of Fund Shares
0.3237
0.1635
0.1373
S&P 500® Index
0.2629
0.1569
0.1203
MSCI U.S. IMI Software & Services 25-50 Index
0.4532
0.1882
0.1644
Fund Summary
Fund:
Tech Hardware Portfolio
Investment Objective
Tech Hardware Portfolio seeks capital appreciation.
Fee Table
The following table describes the fees and expenses that may be incurred when you buy, hold, and
sell shares of the fund. In addition to the fees and expenses described below, your broker may also require you to pay brokerage commissions on purchases and sales of the fund, which are not reflected in the table and example below.
Shareholder fees
0
Annual Operating Expenses
0
0.0070
Adjusted to reflect current fees.
This
example
helps compare the cost of investing in the fund with the cost of investing in other funds.
Let's say, hypothetically, that the annual return for shares of the fund is 5% and that the 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:
72
224
390
871
Portfolio Turnover
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
39
% of the average value of its portfolio.
0.39
Principal Investment Strategies
Normally investing primarily in common stocks.
Normally investing at least 80% of assets in securities of companies principally engaged in development, manufacture, or distribution of tech hardware.
Investing in domestic and foreign issuers.
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.
Normally investing at least 80% of assets in securities of companies principally engaged in development, manufacture, or distribution of tech hardware.
Principal Investment Risks
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, including different market sectors, and different types of securities can react differently to these developments.
Foreign Exposure.
Foreign markets, particularly emerging 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.
The extent of economic development; political stability; market depth, infrastructure, and capitalization; and regulatory oversight can be less than in more developed markets. Emerging markets typically have less established legal, accounting and financial reporting systems than those in more developed markets, which may reduce the scope or quality of financial information available to investors.
Emerging markets can be subject to greater social, economic, regulatory, and political uncertainties and can be extremely volatile.
Geographic Exposure to the Pacific Basin.
Because the fund invests a meaningful portion of its assets in the Pacific Basin, the fund's performance is expected to be closely tied to social, political, and economic conditions within the Pacific Basin and to be more volatile than the performance of more geographically diversified funds.
Tech Hardware Industry Concentration.
The tech hardware industry can be significantly affected by competitive pressures, changing domestic and international demand, research and development costs, availability and price of components, consumer preferences, and product obsolescence.
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.
The value of securities of smaller issuers can be more volatile than that of larger issuers.
In addition, the fund is classified as non-diversified under the Investment Company Act of 1940 (1940 Act), which means that it has the ability to 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.
In addition, the fund is classified as non-diversified under the Investment Company Act of 1940 (1940 Act), which means that it has the ability to 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.
Performance
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 Index Information" section of the prospectus.
Past performance (before and after taxes) is not an indication of future performance.
Prior to November 13, 2021, the fund was named Computers Portfolio and operated under certain different investment policies The fund's historical performance may not represent its current investment policies.
Visit
www.fidelity.com
for more recent performance information.
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.
Past performance (before and after taxes) is not an indication of future performance.
www.fidelity.com
Year-by-Year Returns
0.1473
-0.1380
0.1581
0.3374
-0.0588
0.4004
0.4590
0.2361
-0.2855
0.3351
Highest Quarter Return
0.2730
2020-12-31
Lowest Quarter Return
-0.1991
2022-06-30
Year-to-Date Return
0.0898
2024-03-31
Average Annual Returns
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, such as an employee benefit plan (profit sharing, 401(k), or 403(b) plan).
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.
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.
The after-tax returns shown are not relevant if you hold your shares in a retirement account or in another tax-deferred arrangement, such as an employee benefit plan (profit sharing, 401(k), or 403(b) plan).
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.
Return Before Taxes
0.3351
0.1923
0.1326
Return After Taxes on Distributions
0.3335
0.1597
0.1054
Return After Taxes on Distributions and Sale of Fund Shares
0.1995
0.1487
0.1014
S&P 500® Index
0.2629
0.1569
0.1203
FactSet Hardware Technology Linked Index
0.3397
0.1851
0.1061
Fund Summary
Fund:
Technology Portfolio
Investment Objective
Technology Portfolio seeks capital appreciation.
Fee Table
The following table describes the fees and expenses that may be incurred when you buy, hold, and
sell shares of the fund. In addition to the fees and expenses described below, your broker may also require you to pay brokerage commissions on purchases and sales of the fund, which are not reflected in the table and example below.
Shareholder fees
0
Annual Operating Expenses
0
0.0064
Adjusted to reflect current fees.
This
example
helps compare the cost of investing in the fund with the cost of investing in other funds.
Let's say, hypothetically, that the annual return for shares of the fund is 5% and that the 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:
65
205
357
798
Portfolio Turnover
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
29
% of the average value of its portfolio.
0.29
Principal Investment Strategies
Normally investing primarily in common stocks.
Normally investing at least 80% of assets in securities of companies principally engaged in offering, using, or developing products, processes, or services that will provide or will benefit significantly from technological advances and improvements.
Investing in domestic and foreign issuers.
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.
Normally investing at least 80% of assets in securities of companies principally engaged in offering, using, or developing products, processes, or services that will provide or will benefit significantly from technological advances and improvements.
Principal Investment Risks
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, including different market sectors, and different types of securities can react differently to these developments.
Foreign Exposure.
Foreign markets, particularly emerging 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.
Technology Industry Concentration.
The technology industries can be significantly affected by obsolescence of existing technology, short product cycles, falling prices and profits, competition from new market entrants, and general economic conditions.
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.
The value of securities of smaller issuers can be more volatile than that of larger issuers.
In addition, the fund is classified as non-diversified under the Investment Company Act of 1940 (1940 Act), which means that it has the ability to 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.
In addition, the fund is classified as non-diversified under the Investment Company Act of 1940 (1940 Act), which means that it has the ability to 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.
Performance
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 Index Information" section of the prospectus.
Past performance (before and after taxes) is not an indication of future performance.
Visit
www.fidelity.com
for more recent performance information.
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.
Past performance (before and after taxes) is not an indication of future performance.
www.fidelity.com
Year-by-Year Returns
0.1065
0.0740
0.1194
0.4986
-0.0879
0.5107
0.6371
0.2197
-0.3687
0.5983
Highest Quarter Return
0.3641
2020-06-30
Lowest Quarter Return
-0.2571
2022-06-30
Year-to-Date Return
0.1333
2024-03-31
Average Annual Returns
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, such as an employee benefit plan (profit sharing, 401(k), or 403(b) plan).
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.
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.
The after-tax returns shown are not relevant if you hold your shares in a retirement account or in another tax-deferred arrangement, such as an employee benefit plan (profit sharing, 401(k), or 403(b) plan).
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.
Return Before Taxes
0.5983
0.2493
0.1866
Return After Taxes on Distributions
0.5983
0.2254
0.1582
Return After Taxes on Distributions and Sale of Fund Shares
0.3542
0.1990
0.1452
S&P 500® Index
0.2629
0.1569
0.1203
MSCI U.S. IMI Information Technology 25-50 Index
0.5264
0.2501
0.1945
Fund Summary
Fund:
Fidelity® Environment and Alternative Energy Fund
Investment Objective
Fidelity® Environment and Alternative Energy Fund seeks capital appreciation.
Fee Table
The following table describes the fees and expenses that may be incurred when you buy, hold, and
sell shares of the fund. In addition to the fees and expenses described below, your broker may also require you to pay brokerage commissions on purchases and sales of the fund, which are not reflected in the table and example below.
Shareholder fees
0
Annual Operating Expenses
0
0.0071
Adjusted to reflect current fees.
This
example
helps compare the cost of investing in the fund with the cost of investing in other funds.
Let's say, hypothetically, that the annual return for shares of the fund is 5% and that the 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:
73
227
395
883
Portfolio Turnover
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
35
% of the average value of its portfolio.
0.35
Principal Investment Strategies
Normally investing primarily in common stocks.
Normally investing at least 80% of assets in securities of companies principally engaged in business activities related to alternative and renewable energy, energy efficiency, pollution control, water infrastructure, waste and recycling technologies, or other environmental support services.
Investing in domestic and foreign issuers.
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.
Employing sustainable investing exclusion criteria to avoid investments in issuers that are directly engaged in, and/or derive significant revenue from, certain industries. Please see "Fund Basics - Investment Details - Sustainable Investing Exclusions" for additional information.
Normally investing at least 80% of assets in securities of companies principally engaged in business activities related to alternative and renewable energy, energy efficiency, pollution control, water infrastructure, waste and recycling technologies, or other environmental support services.
Principal Investment Risks
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, including different market sectors, and different types of securities can react differently to these developments.
Sustainability Risk.
Application of
Fidelity Management & Research Company LLC's (FMR) (the Adviser) environmental, social and governance (ESG) ratings process and/or its sustainable investing exclusion criteria may affect the fund's exposure to certain issuers, sectors, regions, and countries and may affect the fund's performance depending on whether certain investments are in or out of favor. The criteria related to the fund's ESG ratings process and/or adherence to its sustainable investing exclusion criteria may result in the fund forgoing opportunities to buy certain securities when it might otherwise be advantageous to do so, or selling securities for ESG reasons when it might be otherwise disadvantageous for it to do so. As a result, the fund's performance may at times be better or worse than the performance of funds that do not use ESG or sustainability criteria. There are significant differences in interpretations of what it means for an issuer to have positive ESG factors. While the Adviser believes its definitions are reasonable, the portfolio decisions it makes may differ with other investors' or advisers' views. When evaluating an issuer, the Adviser is dependent on information or data obtained through voluntary or third-party reporting that may be incomplete, inaccurate, or unavailable, which could cause the Adviser to incorrectly assess an issuer's business practices.
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.
Environment and Alternative Energy Industry Concentration.
The environment and alternative energy industries can be significantly affected by government regulations and subsidies, changing supply and demand for traditional energy sources, and availability of funding for remedial cleanup or development of new technologies, and can be subject to risks associated with hazardous materials.
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.
The value of securities of smaller issuers can be more volatile than that of larger issuers.
In addition, the fund is classified as non-diversified under the Investment Company Act of 1940 (1940 Act), which means that it has the ability to 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.
In addition, the fund is classified as non-diversified under the Investment Company Act of 1940 (1940 Act), which means that it has the ability to 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.
Performance
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 Index Information" section of the prospectus.
Past performance (before and after taxes) is not an indication of future performance.
Visit
www.fidelity.com
for more recent performance information.
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.
Past performance (before and after taxes) is not an indication of future performance.
www.fidelity.com
Year-by-Year Returns
0.0186
-0.0459
0.2072
0.2525
-0.1343
0.2683
0.2118
0.3042
-0.2604
0.2629
Highest Quarter Return
0.2272
2020-12-31
Lowest Quarter Return
-0.2622
2020-03-31
Year-to-Date Return
0.0755
2024-03-31
Average Annual Returns
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, such as an employee benefit plan (profit sharing, 401(k), or 403(b) plan).
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.
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.
The after-tax returns shown are not relevant if you hold your shares in a retirement account or in another tax-deferred arrangement, such as an employee benefit plan (profit sharing, 401(k), or 403(b) plan).
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.
Return Before Taxes
0.2629
0.1336
0.0907
Return After Taxes on Distributions
0.2617
0.1224
0.0776
Return After Taxes on Distributions and Sale of Fund Shares
0.1565
0.1046
0.0698
S&P 500® Index
0.2629
0.1569
0.1203
FTSE® Environmental Opportunities & Alternative Energy Index
0.2665
0.2013
0.1312
Fund Summary
Fund:
Fidelity® Natural Resources Fund
Investment Objective
Fidelity® Natural Resources Fund seeks capital appreciation.
Fee Table
The following table describes the fees and expenses that may be incurred when you buy, hold, and
sell shares of the fund. In addition to the fees and expenses described below, your broker may also require you to pay brokerage commissions on purchases and sales of the fund, which are not reflected in the table and example below.
Shareholder fees
0
Annual Operating Expenses
0
0.0071
Adjusted to reflect current fees.
This
example
helps compare the cost of investing in the fund with the cost of investing in other funds.
Let's say, hypothetically, that the annual return for shares of the fund is 5% and that the 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:
73
227
395
883
Portfolio Turnover
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
50
% of the average value of its portfolio.
0.50
Principal Investment Strategies
Normally investing primarily in common stocks and in certain precious metals.
Normally investing at least 80% of assets in securities of companies principally engaged in owning or developing natural resources, or supplying goods and services to such companies, and in precious metals.
Investing in domestic and foreign issuers.
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.
Normally investing at least 80% of assets in securities of companies principally engaged in owning or developing natural resources, or supplying goods and services to such companies, and in precious metals.
Principal Investment Risks
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, including different market sectors, and different types of securities can react differently to these developments.
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.
Geographic Exposure to Canada.
Because the fund invests a meaningful portion of its assets in Canada, the fund's performance is expected to be closely tied to social, political, and economic conditions within Canada and to be more volatile than the performance of more geographically diversified funds.
Natural Resources Industry Concentration.
The natural resources industries can be significantly affected by events relating to international political and economic developments, energy conservation, the success of exploration projects, commodity prices, and tax and other government regulations.
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.
The value of securities of smaller issuers can be more volatile than that of larger issuers.
In addition, the fund is classified as non-diversified under the Investment Company Act of 1940 (1940 Act), which means that it has the ability to 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.
In addition, the fund is classified as non-diversified under the Investment Company Act of 1940 (1940 Act), which means that it has the ability to 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.
Performance
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 Index Information" section of the prospectus.
Past performance (before and after taxes) is not an indication of future performance.
Visit
www.fidelity.com
for more recent performance information.
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.
Past performance (before and after taxes) is not an indication of future performance.
www.fidelity.com
Year-by-Year Returns
-0.1229
-0.2164
0.3024
-0.0010
-0.2422
0.1908
-0.2085
0.3938
0.4103
0.0640
Highest Quarter Return
0.3481
2020-06-30
Lowest Quarter Return
-0.4828
2020-03-31
Year-to-Date Return
0.1415
2024-03-31
Average Annual Returns
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, such as an employee benefit plan (profit sharing, 401(k), or 403(b) plan).
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.
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.
The after-tax returns shown are not relevant if you hold your shares in a retirement account or in another tax-deferred arrangement, such as an employee benefit plan (profit sharing, 401(k), or 403(b) plan).
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.
Return Before Taxes
0.0640
0.1454
0.0294
Return After Taxes on Distributions
0.0600
0.1406
0.0247
Return After Taxes on Distributions and Sale of Fund Shares
0.0407
0.1161
0.0219
S&P 500® Index
0.2629
0.1569
0.1203
S&P® North American Natural Resources Sector Index
0.0366
0.1313
0.0285
Fund Summary
Fund:
Utilities Portfolio
Investment Objective
Utilities Portfolio seeks capital appreciation.
Fee Table
The following table describes the fees and expenses that may be incurred when you buy, hold, and
sell shares of the fund. In addition to the fees and expenses described below, your broker may also require you to pay brokerage commissions on purchases and sales of the fund, which are not reflected in the table and example below.
Shareholder fees
0
Annual Operating Expenses
0
0.0069
Adjusted to reflect current fees.
This
example
helps compare the cost of investing in the fund with the cost of investing in other funds.
Let's say, hypothetically, that the annual return for shares of the fund is 5% and that the 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:
70
221
384
859
Portfolio Turnover
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
83
% of the average value of its portfolio.
0.83
Principal Investment Strategies
Normally investing primarily in common stocks.
Normally investing at least 80% of assets in securities of companies principally engaged in the utilities industry and companies deriving a majority of their revenues from their utility operations.
Investing in domestic and foreign issuers.
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.
Normally investing at least 80% of assets in securities of companies principally engaged in the utilities industry and companies deriving a majority of their revenues from their utility operations.
Principal Investment Risks
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, including different market sectors, and different types of securities can react differently to these developments.
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.
Utilities Industry Concentration.
The utilities industries can be significantly affected by government regulation, interest rate changes, financing difficulties, supply and demand of services or fuel, intense competition, natural resource conservation, and commodity price fluctuations.
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.
The value of securities of smaller issuers can be more volatile than that of larger issuers.
In addition, the fund is classified as non-diversified under the Investment Company Act of 1940 (1940 Act), which means that it has the ability to 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.
In addition, the fund is classified as non-diversified under the Investment Company Act of 1940 (1940 Act), which means that it has the ability to 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.
Performance
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 Index Information" section of the prospectus.
Past performance (before and after taxes) is not an indication of future performance.
Visit
www.fidelity.com
for more recent performance information.
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.
Past performance (before and after taxes) is not an indication of future performance.
www.fidelity.com
Year-by-Year Returns
0.2166
-0.1089
0.1400
0.1796
0.0858
0.2266
0.0057
0.1768
0.0522
-0.0117
Highest Quarter Return
0.1417
2021-12-31
Lowest Quarter Return
-0.1771
2020-03-31
Year-to-Date Return
0.0624
2024-03-31
Average Annual Returns
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, such as an employee benefit plan (profit sharing, 401(k), or 403(b) plan).
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.
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.
The after-tax returns shown are not relevant if you hold your shares in a retirement account or in another tax-deferred arrangement, such as an employee benefit plan (profit sharing, 401(k), or 403(b) plan).
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.
Return Before Taxes
-0.0117
0.0859
0.0910
Return After Taxes on Distributions
-0.0200
0.0765
0.0791
Return After Taxes on Distributions and Sale of Fund Shares
-0.0013
0.0670
0.0717
S&P 500® Index
0.2629
0.1569
0.1203
MSCI U.S. IMI Utilities 25-50 Index
-0.0737
0.0646
0.0864
Fund Summary
Fund:
Biotechnology Portfolio
Investment Objective
Biotechnology Portfolio seeks capital appreciation.
Fee Table
The following table describes the fees and expenses that may be incurred when you buy, hold, and
sell shares of the fund. In addition to the fees and expenses described below, your broker may also require you to pay brokerage commissions on purchases and sales of the fund, which are not reflected in the table and example below.
Shareholder fees
0
Annual Operating Expenses
0
0.0066
Adjusted to reflect current fees.
This
example
helps compare the cost of investing in the fund with the cost of investing in other funds.
Let's say, hypothetically, that the annual return for shares of the fund is 5% and that the 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:
67
211
368
822
Portfolio Turnover
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
52
% of the average value of its portfolio.
0.52
Principal Investment Strategies
Normally investing primarily in common stocks.
Normally investing at least 80% of assets in securities of companies principally engaged in the research, development, manufacture, and distribution of various biotechnological products, services, and processes and companies that benefit significantly from scientific and technological advances in biotechnology.
Investing in domestic and foreign issuers.
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.
Normally investing at least 80% of assets in securities of companies principally engaged in the research, development, manufacture, and distribution of various biotechnological products, services, and processes and companies that benefit significantly from scientific and technological advances in biotechnology.
Principal Investment Risks
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, including different market sectors, and different types of securities can react differently to these developments.
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.
Biotechnology Industry Concentration.
The biotechnology industry can be significantly affected by patent considerations, intense competition, rapid technological change and obsolescence, and government regulation, and revenue patterns can be erratic.
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.
The value of securities of smaller issuers can be more volatile than that of larger issuers.
In addition, the fund is classified as non-diversified under the Investment Company Act of 1940 (1940 Act), which means that it has the ability to 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.
In addition, the fund is classified as non-diversified under the Investment Company Act of 1940 (1940 Act), which means that it has the ability to 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.
Performance
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 Index Information" section of the prospectus.
Past performance (before and after taxes) is not an indication of future performance.
Visit
www.fidelity.com
for more recent performance information.
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.
Past performance (before and after taxes) is not an indication of future performance.
www.fidelity.com
Year-by-Year Returns
0.3505
0.1367
-0.2372
0.2787
-0.1073
0.3596
0.3834
-0.1237
-0.1587
0.1008
Highest Quarter Return
0.3364
2020-06-30
Lowest Quarter Return
-0.2845
2016-03-31
Year-to-Date Return
0.1054
2024-03-31
Average Annual Returns
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, such as an employee benefit plan (profit sharing, 401(k), or 403(b) plan).
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.
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.
The after-tax returns shown are not relevant if you hold your shares in a retirement account or in another tax-deferred arrangement, such as an employee benefit plan (profit sharing, 401(k), or 403(b) plan).
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.
Return Before Taxes
0.1008
0.0883
0.0739
Return After Taxes on Distributions
0.0995
0.0669
0.0556
Return After Taxes on Distributions and Sale of Fund Shares
0.0604
0.0702
0.0582
S&P 500® Index
0.2629
0.1569
0.1203
MSCI U.S. IMI Biotechnology 25-50 Index
0.0596
0.1127
0.1006
Fund Summary
Fund:
Health Care Portfolio
Investment Objective
Health Care Portfolio seeks capital appreciation.
Fee Table
The following table describes the fees and expenses that may be incurred when you buy, hold, and
sell shares of the fund. In addition to the fees and expenses described below, your broker may also require you to pay brokerage commissions on purchases and sales of the fund, which are not reflected in the table and example below.
Shareholder fees
0
Annual Operating Expenses
0
0.0065
Adjusted to reflect current fees.
This
example
helps compare the cost of investing in the fund with the cost of investing in other funds.
Let's say, hypothetically, that the annual return for shares of the fund is 5% and that the 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:
66
208
362
810
Portfolio Turnover
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
46
% of the average value of its portfolio.
0.46
Principal Investment Strategies
Normally investing primarily in common stocks.
Normally investing at least 80% of assets in securities of companies principally engaged in the design, manufacture, or sale of products or services used for or in connection with health care or medicine.
Investing in domestic and foreign issuers.
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.
Normally investing at least 80% of assets in securities of companies principally engaged in the design, manufacture, or sale of products or services used for or in connection with health care or medicine.
Principal Investment Risks
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, including different market sectors, and different types of securities can react differently to these developments.
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.
Health Care Industry Concentration.
The health care industries are subject to government regulation and reimbursement rates, as well as government approval of products and services, which could have a significant effect on price and availability, and can be significantly affected by product liability claims, rapid obsolescence, and patent expirations.
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.
The value of securities of smaller issuers can be more volatile than that of larger issuers.
In addition, the fund is classified as non-diversified under the Investment Company Act of 1940 (1940 Act), which means that it has the ability to 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.
In addition, the fund is classified as non-diversified under the Investment Company Act of 1940 (1940 Act), which means that it has the ability to 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.
Performance
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 Index Information" section of the prospectus.
Past performance (before and after taxes) is not an indication of future performance.
Visit
www.fidelity.com
for more recent performance information.
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.
Past performance (before and after taxes) is not an indication of future performance.
www.fidelity.com
Year-by-Year Returns
0.3288
0.0657
-0.1068
0.2402
0.0744
0.3146
0.2443
0.1150
-0.1282
0.0413
Highest Quarter Return
0.2215
2019-12-31
Lowest Quarter Return
-0.1501
2018-12-31
Year-to-Date Return
0.0682
2024-03-31
Average Annual Returns
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, such as an employee benefit plan (profit sharing, 401(k), or 403(b) plan).
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.
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.
The after-tax returns shown are not relevant if you hold your shares in a retirement account or in another tax-deferred arrangement, such as an employee benefit plan (profit sharing, 401(k), or 403(b) plan).
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.
Return Before Taxes
0.0413
0.1061
0.1081
Return After Taxes on Distributions
0.0413
0.0935
0.0912
Return After Taxes on Distributions and Sale of Fund Shares
0.0244
0.0837
0.0843
S&P 500® Index
0.2629
0.1569
0.1203
MSCI U.S. IMI Health Care 25-50 Index
0.0256
0.1104
0.1110
Fund Summary
Fund:
Health Care Services Portfolio
Investment Objective
Health Care Services Portfolio seeks capital appreciation.
Fee Table
The following table describes the fees and expenses that may be incurred when you buy, hold, and
sell shares of the fund. In addition to the fees and expenses described below, your broker may also require you to pay brokerage commissions on purchases and sales of the fund, which are not reflected in the table and example below.
Shareholder fees
0
Annual Operating Expenses
0
0.0068
Adjusted to reflect current fees.
This
example
helps compare the cost of investing in the fund with the cost of investing in other funds.
Let's say, hypothetically, that the annual return for shares of the fund is 5% and that the 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:
69
218
379
847
Portfolio Turnover
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
32
% of the average value of its portfolio.
0.32
Principal Investment Strategies
Normally investing primarily in common stocks.
Normally investing at least 80% of assets in securities of companies principally engaged in the ownership or management of hospitals, nursing homes, health maintenance organizations, and other companies specializing in the delivery of health care services.
Investing in domestic and foreign issuers.
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.
Normally investing at least 80% of assets in securities of companies principally engaged in the ownership or management of hospitals, nursing homes, health maintenance organizations, and other companies specializing in the delivery of health care services.
Principal Investment Risks
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, including different market sectors, and different types of securities can react differently to these developments.
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.
Health Care Services Industry Concentration.
The health care services industry is subject to extensive government regulation and can be significantly affected by government reimbursement for medical expenses, rising costs of medical products and services, pricing pressure, and an increased emphasis on outpatient services.
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.
The value of securities of smaller issuers can be more volatile than that of larger issuers.
In addition, the fund is classified as non-diversified under the Investment Company Act of 1940 (1940 Act), which means that it has the ability to 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.
In addition, the fund is classified as non-diversified under the Investment Company Act of 1940 (1940 Act), which means that it has the ability to 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.
Performance
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 Index Information" section of the prospectus.
Past performance (before and after taxes) is not an indication of future performance.
Visit
www.fidelity.com
for more recent performance information.
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.
Past performance (before and after taxes) is not an indication of future performance.
www.fidelity.com
Year-by-Year Returns
0.2366
0.0695
0.0225
0.2434
0.1045
0.1991
0.1852
0.2015
0.0084
0.0151
Highest Quarter Return
0.2624
2019-12-31
Lowest Quarter Return
-0.1330
2020-03-31
Year-to-Date Return
0.0313
2024-03-31
Average Annual Returns
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, such as an employee benefit plan (profit sharing, 401(k), or 403(b) plan).
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.
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.
The after-tax returns shown are not relevant if you hold your shares in a retirement account or in another tax-deferred arrangement, such as an employee benefit plan (profit sharing, 401(k), or 403(b) plan).
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.
Return Before Taxes
0.0151
0.1181
0.1249
Return After Taxes on Distributions
0.0137
0.1108
0.1097
Return After Taxes on Distributions and Sale of Fund Shares
0.0099
0.0940
0.0991
S&P 500® Index
0.2629
0.1569
0.1203
MSCI U.S. IMI Health Care Providers & Services 25-50 Index
0.0233
0.1333
0.1346
Fund Summary
Fund:
Medical Technology and Devices Portfolio
Investment Objective
Medical Technology and Devices Portfolio seeks capital appreciation.
Fee Table
The following table describes the fees and expenses that may be incurred when you buy, hold, and
sell shares of the fund. In addition to the fees and expenses described below, your broker may also require you to pay brokerage commissions on purchases and sales of the fund, which are not reflected in the table and example below.
Shareholder fees
0
Annual Operating Expenses
0
0.0065
Adjusted to reflect current fees.
This
example
helps compare the cost of investing in the fund with the cost of investing in other funds.
Let's say, hypothetically, that the annual return for shares of the fund is 5% and that the 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:
66
208
362
810
Portfolio Turnover
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
42
% of the average value of its portfolio.
0.42
Principal Investment Strategies
Normally investing primarily in common stocks.
Normally investing at least 80% of assets in securities of companies principally engaged in research, development, manufacture, distribution, supply, or sale of medical equipment and devices and related technologies, companies enabling drug discovery, and companies providing information technology services primarily to health care providers.
Investing in domestic and foreign issuers.
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.
Normally investing at least 80% of assets in securities of companies principally engaged in research, development, manufacture, distribution, supply, or sale of medical equipment and devices and related technologies, companies enabling drug discovery, and companies providing information technology services primarily to health care providers.
Principal Investment Risks
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, including different market sectors, and different types of securities can react differently to these developments.
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.
Medical Technology and Devices Industry Concentration.
The medical technology and devices industry can be significantly affected by patent considerations, competition, technology, government regulation, and government reimbursement for medical expenses.
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.
The value of securities of smaller issuers can be more volatile than that of larger issuers.
In addition, the fund is classified as non-diversified under the Investment Company Act of 1940 (1940 Act), which means that it has the ability to 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.
In addition, the fund is classified as non-diversified under the Investment Company Act of 1940 (1940 Act), which means that it has the ability to 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.
Performance
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 Index Information" section of the prospectus.
Past performance (before and after taxes) is not an indication of future performance.
Prior to January 1, 2018, the fund was named Medical Equipment and Systems Portfolio, and the fund operated under certain different investment policies and compared its performance to a different additional index. The fund's historical performance may not represent its current investment policies.
Visit
www.fidelity.com
for more recent performance information.
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.
Past performance (before and after taxes) is not an indication of future performance.
www.fidelity.com
Year-by-Year Returns
0.2670
0.0711
0.0868
0.2657
0.1620
0.2956
0.3004
0.2449
-0.2483
0.0062
Highest Quarter Return
0.2241
2020-06-30
Lowest Quarter Return
-0.1965
2022-06-30
Year-to-Date Return
0.0905
2024-03-31
Average Annual Returns
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, such as an employee benefit plan (profit sharing, 401(k), or 403(b) plan).
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.
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.
The after-tax returns shown are not relevant if you hold your shares in a retirement account or in another tax-deferred arrangement, such as an employee benefit plan (profit sharing, 401(k), or 403(b) plan).
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.
Return Before Taxes
0.0062
0.0967
0.1316
Return After Taxes on Distributions
0.0062
0.0866
0.1121
Return After Taxes on Distributions and Sale of Fund Shares
0.0037
0.0769
0.1031
S&P 500® Index
0.2629
0.1569
0.1203
MSCI U.S. IMI Custom Health Care Technology and Equipment 25/50 Linked Index
0.0361
0.0986
0.1310
Fund Summary
Fund:
Pharmaceuticals Portfolio
Investment Objective
Pharmaceuticals Portfolio seeks capital appreciation.
Fee Table
The following table describes the fees and expenses that may be incurred when you buy, hold, and
sell shares of the fund. In addition to the fees and expenses described below, your broker may also require you to pay brokerage commissions on purchases and sales of the fund, which are not reflected in the table and example below.
Shareholder fees
0
Annual Operating Expenses
0
0.0070
Adjusted to reflect current fees.
This
example
helps compare the cost of investing in the fund with the cost of investing in other funds.
Let's say, hypothetically, that the annual return for shares of the fund is 5% and that the 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:
72
224
390
871
Portfolio Turnover
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
44
% of the average value of its portfolio.
0.44
Principal Investment Strategies
Normally investing primarily in common stocks.
Normally investing at least 80% of assets in companies engaged in the research, development, manufacture, sale, or distribution of pharmaceuticals and drugs of all types.
Investing in domestic and foreign issuers.
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.
Normally investing at least 80% of assets in companies engaged in the research, development, manufacture, sale, or distribution of pharmaceuticals and drugs of all types.
Principal Investment Risks
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, including different market sectors, and different types of securities can react differently to these developments.
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.
Geographic Exposure to Europe.
Because the fund invests a meaningful portion of its assets in Europe, the fund's performance is expected to be closely tied to social, political, and economic conditions within Europe and to be more volatile than the performance of more geographically diversified funds.
Pharmaceuticals Industry Concentration.
The pharmaceuticals industry can be significantly affected by government approval of products and services, government regulation and reimbursement rates, patent expirations, and intense competition.
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.
The value of securities of smaller issuers can be more volatile than that of larger issuers.
In addition, the fund is classified as non-diversified under the Investment Company Act of 1940 (1940 Act), which means that it has the ability to 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.
In addition, the fund is classified as non-diversified under the Investment Company Act of 1940 (1940 Act), which means that it has the ability to 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.
Performance
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 Index Information" section of the prospectus.
Past performance (before and after taxes) is not an indication of future performance.
Visit
www.fidelity.com
for more recent performance information.
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.
Past performance (before and after taxes) is not an indication of future performance.
www.fidelity.com
Year-by-Year Returns
0.2382
0.0819
-0.1627
0.1069
0.0581
0.3163
0.1107
0.1182
0.0098
0.1252
Highest Quarter Return
0.1728
2019-12-31
Lowest Quarter Return
-0.1162
2016-03-31
Year-to-Date Return
0.1851
2024-03-31
Average Annual Returns
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, such as an employee benefit plan (profit sharing, 401(k), or 403(b) plan).
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.
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.
The after-tax returns shown are not relevant if you hold your shares in a retirement account or in another tax-deferred arrangement, such as an employee benefit plan (profit sharing, 401(k), or 403(b) plan).
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.
Return Before Taxes
0.1252
0.1319
0.0933
Return After Taxes on Distributions
0.1029
0.1091
0.0749
Return After Taxes on Distributions and Sale of Fund Shares
0.0870
0.1014
0.0713
S&P 500® Index
0.2629
0.1569
0.1203
MSCI North America IMI + ADR Custom Pharmaceuticals 25/50 Linked Index
0.0570
0.0898
0.0719
Fund Summary
Fund:
Automotive Portfolio
Investment Objective
Automotive Portfolio seeks capital appreciation.
Fee Table
The following table describes the fees and expenses that may be incurred when you buy, hold, and
sell shares of the fund. In addition to the fees and expenses described below, your broker may also require you to pay brokerage commissions on purchases and sales of the fund, which are not reflected in the table and example below.
Shareholder fees
0
Annual Operating Expenses
0
0.0077
Adjusted to reflect current fees.
This
example
helps compare the cost of investing in the fund with the cost of investing in other funds.
Let's say, hypothetically, that the annual return for shares of the fund is 5% and that the 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:
79
246
428
954
Portfolio Turnover
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
60
% of the average value of its portfolio.
0.60
Principal Investment Strategies
Normally investing primarily in common stocks.
Normally investing at least 80% of assets in securities of companies principally engaged in the manufacture, marketing or sale of automobiles, trucks, specialty vehicles, parts, tires, and related services.
Investing in domestic and foreign issuers.
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.
Normally investing at least 80% of assets in securities of companies principally engaged in the manufacture, marketing or sale of automobiles, trucks, specialty vehicles, parts, tires, and related services.
Principal Investment Risks
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, including different market sectors, and different types of securities can react differently to these developments.
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.
Geographic Exposure to the Pacific Basin.
Because the fund invests a meaningful portion of its assets in the Pacific Basin, the fund's performance is expected to be closely tied to social, political, and economic conditions within the Pacific Basin and to be more volatile than the performance of more geographically diversified funds.
Automotive Industry Concentration.
The automotive industry is highly cyclical and can be significantly affected by labor relations and fluctuating component prices.
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.
The value of securities of smaller issuers can be more volatile than that of larger issuers.
In addition, the fund is classified as non-diversified under the Investment Company Act of 1940 (1940 Act), which means that it has the ability to 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.
In addition, the fund is classified as non-diversified under the Investment Company Act of 1940 (1940 Act), which means that it has the ability to 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.
Performance
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 Index Information" section of the prospectus.
Past performance (before and after taxes) is not an indication of future performance.
Visit
www.fidelity.com
for more recent performance information.
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.
Past performance (before and after taxes) is not an indication of future performance.
www.fidelity.com
Year-by-Year Returns
0.0279
0.0017
-0.0583
0.2395
-0.1354
0.2887
0.6244
0.2903
-0.3743
0.3253
Highest Quarter Return
0.3496
2020-06-30
Lowest Quarter Return
-0.2687
2020-03-31
Year-to-Date Return
0.0685
2024-03-31
Average Annual Returns
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, such as an employee benefit plan (profit sharing, 401(k), or 403(b) plan).
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.
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.
The after-tax returns shown are not relevant if you hold your shares in a retirement account or in another tax-deferred arrangement, such as an employee benefit plan (profit sharing, 401(k), or 403(b) plan).
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.
Return Before Taxes
0.3253
0.1750
0.0881
Return After Taxes on Distributions
0.3226
0.1622
0.0653
Return After Taxes on Distributions and Sale of Fund Shares
0.1945
0.1387
0.0628
S&P 500® Index
0.2629
0.1569
0.1203
FactSet Automotive Linked Index
0.2902
0.1680
0.0906
Fund Summary
Fund /Class:
Communication Services Portfolio
/Communication Services Portfolio
Investment Objective
Communication Services Portfolio seeks capital appreciation.
Fee Table
The following table describes the fees and expenses that may be incurred when you buy, hold, and
sell shares of the fund. In addition to the fees and expenses described below, your broker may also require you to pay other fees, such as brokerage commissions on purchases and sales of certain
classes of
shares of the fund and other fees to financial intermediaries, which are not reflected in the tables and examples below.
Shareholder fees
0
Annual Operating Expenses
0
0.0070
Adjusted to reflect current fees.
This
example
helps compare the cost of investing in the fund with the cost of investing in other funds.
Let's say, hypothetically, that the annual return for shares of the fund is 5% and that the 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:
72
224
390
871
Portfolio Turnover
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
45
% of the average value of its portfolio.
0.45
Principal Investment Strategies
Normally investing primarily in common stocks.
Normally investing at least 80% of assets in securities of companies principally engaged in the development, production, or distribution of communication services.
Investing in domestic and foreign issuers.
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.
Normally investing at least 80% of assets in securities of companies principally engaged in the development, production, or distribution of communication services.
Principal Investment Risks
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, including different market sectors, and different types of securities can react differently to these developments.
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.
Communication Services Concentration.
The communication services industries can be significantly affected by government regulation, intense competition, technology changes, general economic conditions, consumer and business confidence and spending, and changes in consumer and business preferences.
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.
The value of securities of smaller issuers can be more volatile than that of larger issuers.
In addition, the fund is classified as non-diversified under the Investment Company Act of 1940 (1940 Act), which means that it has the ability to 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.
In addition, the fund is classified as non-diversified under the Investment Company Act of 1940 (1940 Act), which means that it has the ability to 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.
Performance
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 Index Information" section of the prospectus.
Past performance (before and after taxes) is not an indication of future performance.
Prior to December 1, 2018, the fund was named Multimedia Portfolio, and the fund operated under certain different investment policies and compared its performance to a different additional index. The fund's historical performance may not represent its current investment policies.
Visit
www.fidelity.com
for more recent performance information.
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.
Past performance (before and after taxes) is not an indication of future performance.
www.fidelity.com
Year-by-Year Returns
0.0829
-0.0217
0.0950
0.1259
-0.0327
0.3262
0.3540
0.1597
-0.3830
0.5685
Highest Quarter Return
0.2648
2020-06-30
Lowest Quarter Return
-0.2224
2022-06-30
Year-to-Date Return
0.1170
2024-03-31
Average Annual Returns
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, such as an employee benefit plan (profit sharing, 401(k), or 403(b) plan).
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.
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.
The after-tax returns shown are not relevant if you hold your shares in a retirement account or in another tax-deferred arrangement, such as an employee benefit plan (profit sharing, 401(k), or 403(b) plan).
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.
Return Before Taxes
0.5685
0.1505
0.0980
Return After Taxes on Distributions
0.5685
0.1273
0.0761
Return After Taxes on Distributions and Sale of Fund Shares
0.3366
0.1142
0.0725
S&P 500® Index
0.2629
0.1569
0.1203
MSCI U.S. IMI Communication Services 25-50 (Media Linked) Index
0.4441
0.1070
0.0740
Fund Summary
Fund:
Construction and Housing Portfolio
Investment Objective
Construction and Housing Portfolio seeks capital appreciation.
Fee Table
The following table describes the fees and expenses that may be incurred when you buy, hold, and
sell shares of the fund. In addition to the fees and expenses described below, your broker may also require you to pay brokerage commissions on purchases and sales of the fund, which are not reflected in the table and example below.
Shareholder fees
0
Annual Operating Expenses
0
0.0071
Adjusted to reflect current fees.
This
example
helps compare the cost of investing in the fund with the cost of investing in other funds.
Let's say, hypothetically, that the annual return for shares of the fund is 5% and that the 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:
73
227
395
883
Portfolio Turnover
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
27
% of the average value of its portfolio.
0.27
Principal Investment Strategies
Normally investing primarily in common stocks.
Normally investing at least 80% of assets in securities of companies principally engaged in the design and construction of residential, commercial, industrial, and public works facilities, as well as companies engaged in the manufacture, supply, distribution, or sale of construction and housing products or services.
Investing in domestic and foreign issuers.
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.
Normally investing at least 80% of assets in securities of companies principally engaged in the design and construction of residential, commercial, industrial, and public works facilities, as well as companies engaged in the manufacture, supply, distribution, or sale of construction and housing products or services.
Principal Investment Risks
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, including different market sectors, and different types of securities can react differently to these developments.
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.
Construction and Housing Industry Concentration.
The construction and housing industry can be significantly affected by changes in housing starts, the level of new and existing home sales, government spending, public works, interest rates, consumer confidence and spending, taxation, and demographic patterns.
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.
The value of securities of smaller issuers can be more volatile than that of larger issuers.
In addition, the fund is classified as non-diversified under the Investment Company Act of 1940 (1940 Act), which means that it has the ability to 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.
In addition, the fund is classified as non-diversified under the Investment Company Act of 1940 (1940 Act), which means that it has the ability to 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.
Performance
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 Index Information" section of the prospectus.
Past performance (before and after taxes) is not an indication of future performance.
Visit
www.fidelity.com
for more recent performance information.
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.
Past performance (before and after taxes) is not an indication of future performance.
www.fidelity.com
Year-by-Year Returns
0.1574
0.0691
0.0505
0.2614
-0.1559
0.4107
0.2560
0.5755
-0.2275
0.3084
Highest Quarter Return
0.3295
2020-06-30
Lowest Quarter Return
-0.2574
2020-03-31
Year-to-Date Return
0.1407
2024-03-31
Average Annual Returns
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, such as an employee benefit plan (profit sharing, 401(k), or 403(b) plan).
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.
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.
The after-tax returns shown are not relevant if you hold your shares in a retirement account or in another tax-deferred arrangement, such as an employee benefit plan (profit sharing, 401(k), or 403(b) plan).
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.
Return Before Taxes
0.3084
0.2305
0.1459
Return After Taxes on Distributions
0.3059
0.2157
0.1269
Return After Taxes on Distributions and Sale of Fund Shares
0.1844
0.1837
0.1138
S&P 500® Index
0.2629
0.1569
0.1203
MSCI U.S. IMI Construction & Housing 25-50 Index
0.3090
0.2039
0.1478
Fund Summary
Fund:
Consumer Discretionary Portfolio
Investment Objective
Consumer Discretionary Portfolio seeks capital appreciation.
Fee Table
The following table describes the fees and expenses that may be incurred when you buy, hold, and
sell shares of the fund. In addition to the fees and expenses described below, your broker may also require you to pay brokerage commissions on purchases and sales of the fund, which are not reflected in the table and example below.
Shareholder fees
0
Annual Operating Expenses
0
0.0070
Adjusted to reflect current fees.
This
example
helps compare the cost of investing in the fund with the cost of investing in other funds.
Let's say, hypothetically, that the annual return for shares of the fund is 5% and that the 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:
72
224
390
871
Portfolio Turnover
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
33
% of the average value of its portfolio.
0.33
Principal Investment Strategies
Normally investing primarily in common stocks.
Normally investing at least 80% of assets in securities of companies principally engaged in the manufacture and distribution of consumer discretionary products and services.
Investing in domestic and foreign issuers.
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.
Normally investing at least 80% of assets in securities of companies principally engaged in the manufacture and distribution of consumer discretionary products and services.
Principal Investment Risks
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, including different market sectors, and different types of securities can react differently to these developments.
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.
Consumer Discretionary Industry Concentration.
The consumer discretionary industries can be significantly affected by the performance of the overall economy, interest rates, competition, consumer confidence and spending, and changes in demographics and consumer tastes.
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.
The value of securities of smaller issuers can be more volatile than that of larger issuers.
In addition, the fund is classified as non-diversified under the Investment Company Act of 1940 (1940 Act), which means that it has the ability to 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.
In addition, the fund is classified as non-diversified under the Investment Company Act of 1940 (1940 Act), which means that it has the ability to 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.
Performance
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 Index Information" section of the prospectus.
Past performance (before and after taxes) is not an indication of future performance.
Visit
www.fidelity.com
for more recent performance information.
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.
Past performance (before and after taxes) is not an indication of future performance.
www.fidelity.com
Year-by-Year Returns
0.1021
0.0543
0.0435
0.2208
-0.0094
0.2704
0.3569
0.1915
-0.3483
0.4178
Highest Quarter Return
0.3189
2020-06-30
Lowest Quarter Return
-0.2629
2022-06-30
Year-to-Date Return
0.0722
2024-03-31
Average Annual Returns
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, such as an employee benefit plan (profit sharing, 401(k), or 403(b) plan).
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.
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.
The after-tax returns shown are not relevant if you hold your shares in a retirement account or in another tax-deferred arrangement, such as an employee benefit plan (profit sharing, 401(k), or 403(b) plan).
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.
Return Before Taxes
0.4178
0.1367
0.1078
Return After Taxes on Distributions
0.4098
0.1235
0.0959
Return After Taxes on Distributions and Sale of Fund Shares
0.2520
0.1090
0.0863
S&P 500® Index
0.2629
0.1569
0.1203
MSCI U.S. IMI Consumer Discretionary 25-50 Index
0.4048
0.1661
0.1259
Fund Summary
Fund:
Leisure Portfolio
Investment Objective
Leisure Portfolio seeks capital appreciation.
Fee Table
The following table describes the fees and expenses that may be incurred when you buy, hold, and
sell shares of the fund. In addition to the fees and expenses described below, your broker may also require you to pay brokerage commissions on purchases and sales of the fund, which are not reflected in the table and example below.
Shareholder fees
0
Annual Operating Expenses
0
0.0070
Adjusted to reflect current fees.
This
example
helps compare the cost of investing in the fund with the cost of investing in other funds.
Let's say, hypothetically, that the annual return for shares of the fund is 5% and that the 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:
72
224
390
871
Portfolio Turnover
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
39
% of the average value of its portfolio.
0.39
Principal Investment Strategies
Normally investing primarily in common stocks.
Normally investing at least 80% of assets in securities of companies principally engaged in the design, production, or distribution of goods or services in the leisure industries.
Investing in domestic and foreign issuers.
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.
Normally investing at least 80% of assets in securities of companies principally engaged in the design, production, or distribution of goods or services in the leisure industries.
Principal Investment Risks
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, including different market sectors, and different types of securities can react differently to these developments.
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.
Leisure Industry Concentration.
The leisure industry can be significantly affected by the performance of the overall economy, changing consumer tastes, intense competition, and government regulation.
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.
The value of securities of smaller issuers can be more volatile than that of larger issuers.
In addition, the fund is classified as non-diversified under the Investment Company Act of 1940 (1940 Act), which means that it has the ability to 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.
In addition, the fund is classified as non-diversified under the Investment Company Act of 1940 (1940 Act), which means that it has the ability to 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.
Performance
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 Index Information" section of the prospectus.
Past performance (before and after taxes) is not an indication of future performance.
Visit
www.fidelity.com
for more recent performance information.
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.
Past performance (before and after taxes) is not an indication of future performance.
www.fidelity.com
Year-by-Year Returns
0.0833
0.0332
0.0635
0.2905
-0.0715
0.2876
0.1840
0.2156
-0.1524
0.3012
Highest Quarter Return
0.2378
2020-06-30
Lowest Quarter Return
-0.3267
2020-03-31
Year-to-Date Return
0.0708
2024-03-31
Average Annual Returns
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, such as an employee benefit plan (profit sharing, 401(k), or 403(b) plan).
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.
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.
The after-tax returns shown are not relevant if you hold your shares in a retirement account or in another tax-deferred arrangement, such as an employee benefit plan (profit sharing, 401(k), or 403(b) plan).
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.
Return Before Taxes
0.3012
0.1537
0.1129
Return After Taxes on Distributions
0.2959
0.1335
0.0932
Return After Taxes on Distributions and Sale of Fund Shares
0.1817
0.1195
0.0870
S&P 500® Index
0.2629
0.1569
0.1203
MSCI U.S. IMI Consumer Services 25-50 Index
0.3075
0.1142
0.1061
Fund Summary
Fund:
Retailing Portfolio
Investment Objective
Retailing Portfolio seeks capital appreciation.
Fee Table
The following table describes the fees and expenses that may be incurred when you buy, hold, and
sell shares of the fund. In addition to the fees and expenses described below, your broker may also require you to pay brokerage commissions on purchases and sales of the fund, which are not reflected in the table and example below.
Shareholder fees
0
Annual Operating Expenses
0
0.0066
Adjusted to reflect current fees.
This
example
helps compare the cost of investing in the fund with the cost of investing in other funds.
Let's say, hypothetically, that the annual return for shares of the fund is 5% and that the 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:
67
211
368
822
Portfolio Turnover
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
49
% of the average value of its portfolio.
0.49
Principal Investment Strategies
Normally investing primarily in common stocks.
Normally investing at least 80% of assets in securities of companies principally engaged in merchandising finished goods and services primarily to individual consumers.
Investing in domestic and foreign issuers.
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.
Normally investing at least 80% of assets in securities of companies principally engaged in merchandising finished goods and services primarily to individual consumers.
Principal Investment Risks
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, including different market sectors, and different types of securities can react differently to these developments.
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.
Retail Industry Concentration.
The retail industry can be significantly affected by consumer confidence and spending, intense competition, and changing consumer tastes.
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.
The value of securities of smaller issuers can be more volatile than that of larger issuers.
In addition, the fund is classified as non-diversified under the Investment Company Act of 1940 (1940 Act), which means that it has the ability to 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.
In addition, the fund is classified as non-diversified under the Investment Company Act of 1940 (1940 Act), which means that it has the ability to 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.
Performance
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 Index Information" section of the prospectus.
Past performance (before and after taxes) is not an indication of future performance.
Visit
www.fidelity.com
for more recent performance information.
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.
Past performance (before and after taxes) is not an indication of future performance.
www.fidelity.com
Year-by-Year Returns
0.1202
0.1841
0.0443
0.2582
0.0462
0.2632
0.4433
0.1816
-0.2944
0.2685
Highest Quarter Return
0.3488
2020-06-30
Lowest Quarter Return
-0.2318
2022-06-30
Year-to-Date Return
0.1343
2024-03-31
Average Annual Returns
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, such as an employee benefit plan (profit sharing, 401(k), or 403(b) plan).
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.
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.
The after-tax returns shown are not relevant if you hold your shares in a retirement account or in another tax-deferred arrangement, such as an employee benefit plan (profit sharing, 401(k), or 403(b) plan).
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.
Return Before Taxes
0.2685
0.1403
0.1340
Return After Taxes on Distributions
0.2476
0.1216
0.1201
Return After Taxes on Distributions and Sale of Fund Shares
0.1738
0.1116
0.1096
S&P 500® Index
0.2629
0.1569
0.1203
MSCI U.S. IMI Multi-Sector Retailing 25-50 Linked Index
0.2728
0.1579
0.1425
Fund Summary
Fund:
Energy Portfolio
Investment Objective
Energy Portfolio seeks capital appreciation.
Fee Table
The following table describes the fees and expenses that may be incurred when you buy, hold, and
sell shares of the fund. In addition to the fees and expenses described below, your broker may also require you to pay brokerage commissions on purchases and sales of the fund, which are not reflected in the table and example below.
Shareholder fees
0
Annual Operating Expenses
0
0.0068
Adjusted to reflect current fees.
This
example
helps compare the cost of investing in the fund with the cost of investing in other funds.
Let's say, hypothetically, that the annual return for shares of the fund is 5% and that the 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:
69
218
379
847
Portfolio Turnover
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
17
% of the average value of its portfolio.
0.17
Principal Investment Strategies
Normally investing primarily in common stocks.
Normally investing at least 80% of assets in securities of companies principally engaged in the energy field, including the conventional areas of oil, gas, electricity, and coal, and newer sources of energy such as nuclear, geothermal, oil shale, and solar power.
Investing in domestic and foreign issuers.
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.
Normally investing at least 80% of assets in securities of companies principally engaged in the energy field, including the conventional areas of oil, gas, electricity, and coal, and newer sources of energy such as nuclear, geothermal, oil shale, and solar power.
Principal Investment Risks
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, including different market sectors, and different types of securities can react differently to these developments.
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.
Energy Industry Concentration.
The energy industries can be significantly affected by fluctuations in energy prices and supply and demand of energy fuels, energy conservation, the success of exploration projects, and tax and other government regulations.
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.
The value of securities of smaller issuers can be more volatile than that of larger issuers.
In addition, the fund is classified as non-diversified under the Investment Company Act of 1940 (1940 Act), which means that it has the ability to 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.
In addition, the fund is classified as non-diversified under the Investment Company Act of 1940 (1940 Act), which means that it has the ability to 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.
Performance
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 Index Information" section of the prospectus.
Past performance (before and after taxes) is not an indication of future performance.
Visit
www.fidelity.com
for more recent performance information.
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.
Past performance (before and after taxes) is not an indication of future performance.
www.fidelity.com
Year-by-Year Returns
-0.1264
-0.2053
0.3384
-0.0264
-0.2492
0.0988
-0.3251
0.5535
0.6303
0.0093
Highest Quarter Return
0.4023
2022-03-31
Lowest Quarter Return
-0.5225
2020-03-31
Year-to-Date Return
0.1505
2024-03-31
Average Annual Returns
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, such as an employee benefit plan (profit sharing, 401(k), or 403(b) plan).
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.
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.
The after-tax returns shown are not relevant if you hold your shares in a retirement account or in another tax-deferred arrangement, such as an employee benefit plan (profit sharing, 401(k), or 403(b) plan).
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.
Return Before Taxes
0.0093
0.1364
0.0256
Return After Taxes on Distributions
0.0047
0.1299
0.0193
Return After Taxes on Distributions and Sale of Fund Shares
0.0089
0.1078
0.0184
S&P 500® Index
0.2629
0.1569
0.1203
MSCI U.S. IMI Energy 25-50 Index
0.0013
0.1334
0.0278