497K 1 main.htm

Supplement to the
Spartan® Global ex U.S. Index Fund
Investor Class and Fidelity Advantage® Class
December 29, 2012
Summary Prospectus

Effective January 1, 2013, the following information replaces the similar information under the heading "Fee Table" on page 2.

Shareholder fees
(fees paid directly from your investment)

 

Investor
Class
 
Fidelity
Advantage®
Class

Redemption fee on shares held less than 90 days (as a % of amount redeemed)

1.00%

 

1.00%

Annual class operating expenses
(expenses that you pay each year as a % of the value of your investment)

 

Investor
Class

 

Fidelity
Advantage
Class

Management fee

0.20%

 

0.20%

Distribution and/or Service (12b-1) fees

None

 

None

Other expenses

0.14%

 

0.08%

Total annual operating expenses

0.34%

 

0.28%

Fee waiver/or expense reimbursementA

0.12%

 

0.10%

Total annual operating expenses after fee waiver/or expense reimbursement

0.22%

 

0.18%

A Fidelity Management & Research Company (FMR) has contractually agreed to reimburse Investor Class and Fidelity Advantage Class of the fund to the extent that total operating expenses (excluding interest, taxes, certain securities lending costs, brokerage commissions, extraordinary expenses, and acquired fund fees and expenses, if any), as a percentage of their respective average net assets, exceed 0.22% and 0.18%, respectively. These arrangements will remain in effect through December 31, 2013. FMR may not terminate these arrangements before the expiration date without the approval of the Board of Trustees.

GUX-SUM-12-02		December 29, 2012
1.954604.101

Effective January 1, 2013, the following information replaces the similar information under the heading "Fee Table" on page 3.

 
Investor
Class

 

Fidelity
Advantage
Class

1 year

$ 23

 

$ 18

3 years

$ 97

 

$ 79

5 years

$ 179

 

$ 147

10 years

$ 419

 

$ 345

Spartan® Index Funds

Spartan® Global ex U.S. Index Fund

Class/Ticker

Investor/FSGUX

Fidelity Advantage®/FSGDX

Summary Prospectus

December 29, 2012


xxx92527


Fund Summary

Fund/Class:
Spartan® Global ex U.S. Index Fund/Investor, Fidelity Advantage®

Investment Objective

The fund seeks to provide investment results that correspond to the total return of foreign developed and emerging stock markets.

Fee Table

The following table describes the fees and expenses that may be incurred when you buy, hold, or sell shares of the fund.

Shareholder fees
(fees paid directly from your investment)

 

Investor
Class
 
Fidelity
Advantage
Class

Redemption fee on shares held less than 90 days (as a % of amount redeemed)

1.00%

 

1.00%

Annual index fund fee (for fund balances under $10,000)

$10.00

 

$10.00

Annual class operating expenses
(expenses that you pay each year as a % of the value of your investment)

 

Investor
Class
 
Fidelity
Advantage
Class

Management fee

0.20%

 

0.20%

Distribution and/or Service (12b-1) fees

None

 

None

Other expenses

0.14%

 

0.08%

Total annual operating expenses

0.34%

 

0.28%

Fee waiver and/or expense reimbursement A

0.10%

 

0.10%

Total annual operating expenses after fee waiver and/or expense reimbursement

0.24%

 

0.18%

A Fidelity Management & Research Company (FMR) has contractually agreed to reimburse Investor Class and Fidelity Advantage Class of the fund to the extent that total operating expenses (excluding interest, taxes, certain securities lending costs, brokerage commissions, extraordinary expenses, and acquired fund fees and expenses, if any), as a percentage of their respective average net assets, exceed 0.24% and 0.18%. These arrangements will remain in effect through December 31, 2012. FMR may not terminate these arrangements before the expiration date without the approval of the Board of Trustees.

Summary Prospectus

This example helps compare the cost of investing in the fund with the cost of investing in other mutual funds.

Let's say, hypothetically, that the annual return for shares of the fund is 5% and that your shareholder fees and the annual operating expenses for shares of the fund are exactly as described in the fee table. This example illustrates the effect of fees and expenses, but is not meant to suggest actual or expected fees and expenses or returns, all of which may vary. For every $10,000 you invested, here's how much you would pay in total expenses if you sell all of your shares at the end of each time period indicated:

 
Investor
Class

 

Fidelity
Advantage
Class

1 year

$ 25

 

$ 18

3 years

$ 99

 

$ 79

5 years

$ 181

 

$ 147

10 years

$ 421

 

$ 345

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 7% of the average value of its portfolio.

Principal Investment Strategies

  • Normally investing at least 80% of assets in securities included in the MSCI® ACWI® (All Country World Index) ex USA Index and in depository receipts representing securities included in the index.
  • Using statistical sampling techniques based on such factors as capitalization, industry exposures, dividend yield, price/earnings (P/E) ratio, price/book (P/B) ratio, earnings growth, country weightings, and the effect of foreign taxes to attempt to replicate the returns of the MSCI® ACWI® (All Country World Index) ex USA Index.
  • Lending securities to earn income for the fund.

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 and different types of securities can react differently to these developments.
  • Foreign and Emerging Market Risk. 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. 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.

Summary Prospectus

Fund Summary - continued

  • 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.
  • Correlation to Index. The performance of the fund and its index may vary somewhat due to factors such as transaction costs, sample selection, and timing differences associated with additions to and deletions from its index.

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

Performance history will be available for the fund after the fund has been in operation for one calendar year.

Investment Advisers

Fidelity Management & Research Company (FMR) is the fund's manager. Geode Capital Management, LLC (Geode) and FMR Co., Inc. (FMRC) serve as sub-advisers for the fund.

Portfolio Manager(s)

James Francis (senior portfolio manager) has managed the fund since October 2011.

Lou Bottari (portfolio manager), Maximilian Kaufmann (portfolio manager), and Patrick Waddell (portfolio manager) have managed the fund since September 2011.

Peter Matthew (assistant portfolio manager) has managed the fund since August 2012.

Purchase and Sale of Shares

You may buy or sell Investor Class and Fidelity Advantage Class shares of the fund through a Fidelity brokerage or mutual fund account, through a retirement account, or through an investment professional. You may buy or sell shares in various ways:

Internet

www.fidelity.com

Phone

Fidelity Automated Service Telephone (FAST®) 1-800-544-5555

To reach a Fidelity representative 1-800-544-6666

Mail

Additional purchases:

Fidelity Investments
P.O. Box 770001
Cincinnati, OH 45277-0003

Redemptions:

Fidelity Investments
P.O. Box 770001
Cincinnati, OH 45277-0035

TDD - Service for the Deaf and Hearing Impaired

1-800-544-0118

Summary Prospectus

The price to buy one share of Investor Class or Fidelity Advantage Class is its net asset value per share (NAV). Your shares will be bought at the NAV next calculated after your investment is received in proper form.

The price to sell one share of Investor Class or Fidelity Advantage Class is its NAV, minus the short-term redemption fee, if applicable. Your shares will be sold at the NAV next calculated after your order is received in proper form, minus the short-term redemption fee, if applicable.

The fund is open for business each day the New York Stock Exchange (NYSE) is open.

Initial Purchase Minimum - Investor Class

$2,500

For Fidelity Simplified Employee Pension-IRA and Keogh accounts, and Non-Fidelity Prototype Retirement accounts

$500

Through regular investment plans in Fidelity Traditional IRAs, Roth IRAs, and Rollover IRAs (requires monthly purchases of $200 until fund balance is $2,500)

$200

Initial Purchase Minimum - Fidelity Advantage Class

$10,000

The fund may waive or lower purchase minimums in other circumstances.

Tax Information

Distributions you receive from the fund are subject to federal income tax and generally will be taxed as ordinary income or capital gains, and may also be subject to state or local taxes, unless you are investing through a tax-advantaged retirement account (in which case you may be taxed later, upon withdrawal of your investment from such account).

Payments to Broker-Dealers and Other Financial Intermediaries

The fund, FMR, Fidelity Distributors Corporation (FDC), and/or their affiliates may pay intermediaries, including banks, broker-dealers, retirement plan sponsors, administrators, or service-providers (who may be affiliated with FMR or FDC), for the sale of fund shares and related services. These payments may create a conflict of interest by influencing your intermediary and your investment professional to recommend the fund over another investment. Ask your investment professional or visit your intermediary's web site for more information.

Summary Prospectus

FDC is a member of the Securities Investor Protection Corporation (SIPC). You may obtain information about SIPC, including the SIPC brochure, by visiting www.sipc.org or calling SIPC at 202-371-8300.

Spartan, Fidelity Advantage, Fidelity Investments & Pyramid Design, and FAST are registered service marks of FMR LLC. © 2012 FMR LLC. All rights reserved.

The third-party marks appearing above are the marks of their respective owners.

1.929353.104 GUX-SUM-1212