NF_01.31 Fidelity Mid Cap Value Fund-Class TX PRO-01 | Fidelity® Mid Cap Value Fund

Fund Summary

Fund/Class:
Fidelity® Mid Cap Value Fund/Fidelity Advisor^® Mid Cap Value Fund T

Investment Objective

The fund seeks long-term growth of capital.

Fee Table

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

You may qualify for sales charge discounts if you invest at least $250,000 in Class T shares in a single transaction. More information about this discount is available from your investment professional and in the Fund Distribution section beginning on page 23 of the prospectus.

Shareholder fees

(fees paid directly from your investment)

Shareholder Fees {- Fidelity® Mid Cap Value Fund}	NF_01.31 Fidelity Mid Cap Value Fund-Class TX PRO-01 Fidelity® Mid Cap Value Fund Fidelity Advisor Mid Cap Value Fund Class T
Maximum sales charge (load) on purchases (as a % of offering price)	2.50%

Annual Operating Expenses

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

Annual Operating Expenses {- Fidelity® Mid Cap Value Fund}	NF_01.31 Fidelity Mid Cap Value Fund-Class TX PRO-01 Fidelity® Mid Cap Value Fund Fidelity Advisor Mid Cap Value Fund Class T
Management fee (fluctuates based on the fund's performance relative to a securities market index)	0.50%
Distribution and/or Service (12b-1) fees	0.25%
Other expenses	0.38%	[1]
Total annual operating expenses	1.13%

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 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:

Sell All Shares

Expense Example {- Fidelity® Mid Cap Value Fund}	NF_01.31 Fidelity Mid Cap Value Fund-Class TX PRO-01 Fidelity® Mid Cap Value Fund Fidelity Advisor Mid Cap Value Fund Class T USD ($)
1 year	$ 362
3 years	600
5 years	857
10 years	$ 1,590

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.

Principal Investment Strategies

• Normally investing primarily in common stocks.

• Normally investing at least 80% of assets in securities of companies with medium market capitalizations (which, for purposes of this fund, are those companies with market capitalizations similar to companies in the Russell Midcap^® Index or the S&P MidCap 400^® Index).

• Potentially investing in companies with smaller or larger market capitalizations.

• Investing in securities of companies that Fidelity Management & Research Company (FMR) believes are undervalued in the marketplace in relation to factors such as assets, sales, earnings, growth potential, or cash flow, or in relation to securities of other companies in the same industry (stocks of these companies are often called "value" stocks).

• Using the Russell Midcap^® Value Index as a guide in structuring the fund and selecting its investments.

• 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.

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.

• 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.

• "Value" Investing. "Value" stocks can perform differently from the market as a whole and other types of stocks and can continue to be undervalued by the market for long periods of time.

• Mid Cap Investing. The value of securities of medium size, less well-known issuers can perform differently from the market as a whole and other types of stocks and can be more volatile than that of larger issuers.

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 Class A shares from year to year and compares the performance of Class A shares to the performance of a securities market index over various periods of time. The index description appears 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.

Performance history will be available for Class T after Class T has been in operation for one calendar year.

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.

Year-by-Year Returns*

Calendar Years

During the periods shown in the chart:	Returns	Quarter ended
Highest Quarter Return	25.44%	September 30, 2009
Lowest Quarter Return	-24.87%	December 31, 2008

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. 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).

For the periods ended December 31, 2016

* The returns shown above are for Class A, which is not offered through this prospectus. Class T would have substantially similar annual returns to Class A because the classes are invested in the same portfolio of securities. Class T's returns would differ from Class A's returns to the extent that the classes do not have the same expenses.

Average Annual Total Returns{- Fidelity® Mid Cap Value Fund} - NF_01.31 Fidelity Mid Cap Value Fund-Class TX PRO-01 - Fidelity® Mid Cap Value Fund	Past 1 year	Past 5 years	Since Inception	[1]	Inception Date
Fidelity Mid Cap Value Fund-Class A					Feb. 13, 2007
Fidelity Mid Cap Value Fund-Class A | Return Before Taxes	5.63%	13.97%	6.01%
Fidelity Mid Cap Value Fund-Class A | After Taxes on Distributions	5.36%	12.44%	5.14%		Feb. 13, 2007
Fidelity Mid Cap Value Fund-Class A | After Taxes on Distributions and Sales	3.42%	10.72%	4.55%		Feb. 13, 2007
Russell Midcap® Value Index(reflects no deduction for fees, expenses, or taxes)	20.00%	15.70%	7.12%

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

[1] From February 13, 2007