Spartan Emerging Markets Index Fund

Fund Summary

Fund/Class:

Spartan^® Emerging Markets Index Fund/Institutional, Fidelity Advantage^® Institutional

Investment Objective

The fund seeks to provide investment results that correspond to the total return of 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)

Shareholder Fees Inst Adv Inst Spartan Emerging Markets Index Fund	Spartan Emerging Markets Index Fund - Institutional Class	Spartan Emerging Markets Index Fund - Fidelity Advantage Institutional Class
Redemption fee on shares held less than 90 days (as a % of amount redeemed)	1.50%	1.50%

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

Annual Class Operating Expenses Inst Adv Inst Spartan Emerging Markets Index Fund		Spartan Emerging Markets Index Fund - Institutional Class	Spartan Emerging Markets Index Fund - Fidelity Advantage Institutional Class
Management fee		0.25%	0.25%
Distribution and/or Service (12b-1) fees		none	none
Other expenses	[1]	0.03%	none
Total annual operating expenses		0.28%	0.25%
Fee waiver/or expense reimbursement	[2]	0.13%	0.13%
Total annual operating expenses after fee waiver/or expense reimbursement		0.15%	0.12%

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:

Expense Example Inst Adv Inst Spartan Emerging Markets Index Fund (USD $)	Spartan Emerging Markets Index Fund - Institutional Class	Spartan Emerging Markets Index Fund - Fidelity Advantage Institutional Class
1 year	15	12
3 years	75	65

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. For the period from September 8, 2011 to October 31, 2011, the fund's portfolio turnover rate was less than 1% of the average value of its portfolio.

Principal Investment Strategies

• Normally investing at least 80% of assets in securities included in the FTSE^® Emerging 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 FTSE^® Emerging 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 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.

• 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.

Spartan Global ex U.S. Index Fund

Fund Summary

Fund/Class:

Spartan^® Global ex U.S. Index Fund/Institutional, Fidelity Advantage^® Institutional

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)

Shareholder Fees Inst Adv Inst Spartan Global ex U.S. Index Fund	Spartan Global ex U.S. Index Fund - Institutional Class	Spartan Global ex U.S. Index Fund - Fidelity Advantage Institutional 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)

Annual Class Operating Expenses Inst Adv Inst Spartan Global ex U.S. Index Fund		Spartan Global ex U.S. Index Fund - Institutional Class	Spartan Global ex U.S. Index Fund - Fidelity Advantage Institutional Class
Management fee		0.20%	0.20%
Distribution and/or Service (12b-1) fees		none	none
Other expenses	[1]	0.03%	none
Total annual operating expenses		0.23%	0.20%
Fee waiver/or expense reimbursement	[2]	0.10%	0.10%
Total annual operating expenses after fee waiver/or expense reimbursement		0.13%	0.10%

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:

Expense Example Inst Adv Inst Spartan Global ex U.S. Index Fund (USD $)	Spartan Global ex U.S. Index Fund - Institutional Class	Spartan Global ex U.S. Index Fund - Fidelity Advantage Institutional Class
1 year	13	10
3 years	62	52

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. For the period from September 8, 2011 to October 31, 2011, the fund's portfolio turnover rate was 1% 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 (MSCI^® ACWI^® 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 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 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.

• 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.

[1] Based on estimated amounts for the current fiscal year.

[2] Fidelity Management & Research Company (FMR) has contractually agreed to reimburse Institutional Class and Fidelity Advantage Institutional 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 0.15% and 0.12%, respectively. These arrangements will remain in effect through December 31, 2012.

[1] Based on estimated amounts for the current fiscal year.

[2] Fidelity Management & Research Company (FMR) has contractually agreed to reimburse Institutional Class and Fidelity Advantage Institutional 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 0.13% and 0.10%, respectively. These arrangements will remain in effect through December 31, 2012.