0000354046
2022-02-09
2022-02-09
0000354046
vav:NF0531FidelitySustainableMultiAssetFundAMCIZPRO01Member
vav:S000075297Member
2022-02-09
2022-02-09
0000354046
vav:NF0531FidelitySustainableMultiAssetFundAMCIZPRO01Member
vav:S000075297Member
vav:C000234218Member
2022-02-09
2022-02-09
0000354046
vav:NF0531FidelitySustainableMultiAssetFundAMCIZPRO01Member
vav:S000075297Member
vav:C000234215Member
2022-02-09
2022-02-09
0000354046
vav:NF0531FidelitySustainableMultiAssetFundAMCIZPRO01Member
vav:S000075297Member
vav:C000234216Member
2022-02-09
2022-02-09
0000354046
vav:NF0531FidelitySustainableMultiAssetFundAMCIZPRO01Member
vav:S000075297Member
vav:C000234214Member
2022-02-09
2022-02-09
0000354046
vav:NF0531FidelitySustainableMultiAssetFundRetailPRO01Member
vav:S000075297Member
2022-02-09
2022-02-09
0000354046
vav:NF0531FidelitySustainableMultiAssetFundRetailPRO01Member
vav:S000075297Member
vav:C000234217Member
2022-02-09
2022-02-09
iso4217:USD
pure
485BPOS
2022-02-08
false
0000354046
N-1A
FIDELITY CHARLES STREET TRUST
Fund Summary
Fund/Class:Fidelity® Sustainable Multi-Asset Fund/Fidelity Advisor® Sustainable Multi-Asset Fund A, M, C, I
Investment Objective
The fund seeks total return.
Fee Table
The following table describes the fees and expenses that may be incurred when you buy and hold 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 certain share classes of the fund.
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 31 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 31 of the prospectus.
50000
Shareholder fees
(fees paid directly from your investment)
0.0575
0.0350
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% or 0.25%, respectively.
On Class C shares redeemed less than one year after purchase.
Annual Operating Expenses
(expenses that you pay each year as a % of the value of your investment)
0.0010
0.0010
0.0010
0.0010
0.0025
0.0050
0.0100
0
0.0072
0.0097
0.0147
0.0047
0.0067
0.0092
0.0142
0.0042
Based on estimated amounts for the current fiscal year.
January 31, 2024
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 and if you hold your shares:
640
640
441
441
245
145
43
43
782
782
638
638
455
455
140
140
Portfolio Turnover
The fund will not incur transaction costs, such as commissions, when it buys and sells shares of underlying Fidelity® funds (or "turns over" its portfolio), but it could incur transaction costs if it were to buy and sell other types of securities
directly. If the fund were to buy and sell other types of securities directly, a higher portfolio turnover rate could indicate higher
transaction costs and could result in higher taxes when fund shares are held in a taxable account. Such costs, if incurred,
would not be reflected in annual operating expenses or in the example and would affect the fund's performance.
Principal Investment Strategies
Normally investing at least 80% of assets in Fidelity® funds (including mutual funds and exchange traded funds (ETFs)) that invest in securities of issuers that Fidelity Management
& Research Company (the Adviser) believes have proven or improving sustainability practices based on an evaluation of such
issuer’s individual environmental, social, and governance (ESG) profile and in Fidelity® index funds that track an ESG index (underlying Fidelity funds).
Allocating assets according to a neutral asset allocation strategy in which 70% of the fund’s assets are allocated to
underlying Fidelity® U.S. and international equity mutual funds and ETFs and 30% to underlying Fidelity® bond mutual funds and ETFs. To reflect the Adviser's market outlook, which is primarily focused on the intermediate term,
the Adviser may overweight or underweight each asset class within the following ranges: equity funds (60%-80%) and bond funds
(20%-40%).
The Adviser may invest up to 10% of the fund’s total assets in commodities, high yield debt (also referred to as junk
bonds), floating rate debt, real estate debt, international debt, emerging markets debt or short term funds, but no more than
25% in aggregate within those asset classes.
Buying and selling futures contracts (both long and short positions) in an effort to manage cash flows efficiently, remain
fully invested, or facilitate asset allocation.
Actively managed underlying funds employ sustainable investing exclusion criteria to avoid investments in issuers that are
directly engage in, and/or derive significant revenue from, certain industries. Please see “Fund Basics – Investment
Details – Sustainable Investing Exclusions” for additional information.
Principal Investment Risks
Asset Allocation Risk. The fund is subject to risks resulting from the Adviser's asset allocation decisions. The selection of underlying funds and
the allocation of the fund's assets among various asset classes could cause the fund to lose value or its results to lag relevant
benchmarks or other funds with similar objectives.
Investing in ETFs. ETFs may trade in the secondary market at prices below the value of their underlying portfolios and may not be liquid. ETFs
that track an index are subject to tracking error and may be unable to sell poorly performing assets that are included in
their index or other benchmark.
Investing in Other Funds. The fund bears all risks of investment strategies employed by the underlying funds, including the risk that the underlying
funds will not meet their investment objectives.
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.
Interest Rate Changes. Interest rate increases can cause the price of a debt security to decrease.
Sustainability Risk. Application of FMR’s 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.
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. 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.
Prepayment. The ability of an issuer of a debt security to repay principal prior to a security's maturity can cause greater price volatility
if interest rates change.
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. Changes in the financial condition of an issuer or counterparty (e.g., broker-dealer or other borrower in a securities lending
transaction) can increase the risk of default by an issuer or counterparty, which can affect a security's or instrument's
value or result in delays in recovering securities and/or capital from a counterparty. A decline in the credit quality of
an issuer or a provider of credit support or a maturity-shortening structure for a security can cause the price of a security
to decrease.
Correlation to Index. The performance of an underlying index fund and its index may vary somewhat due to factors such as fees and expenses of the
underlying fund, transaction costs, sample selection, regulatory restrictions, and timing differences associated with additions
to and deletions from the index. Errors in the construction or calculation of the index may occur from time to time and may
not be identified and corrected for some period of time, which may have an adverse impact on an underlying fund and its shareholders.
Passive Management Risk. Some of the underlying funds in which the fund invests are managed with a passive investment strategy, attempting to track
the performance of an unmanaged index of securities, regardless of the current or projected performance of an underlying fund's
index or of the actual securities included in the index. This differs from an actively managed fund, which typically seeks
to outperform a benchmark index. As a result, the performance of these underlying funds could be lower than actively managed
funds that may shift their portfolio assets to take advantage of market opportunities or lessen the impact of a market decline
or a decline in the value of one or more issuers. An underlying index fund may be concentrated to approximately the same extent
that its index concentrates in the securities of issuers in a particular industry or group of industries.
Leverage Risk. Leverage can increase market exposure, magnify investment risks, and cause losses to be realized more quickly.
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.
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.
Fund Summary
Fund/Class:Fidelity® Sustainable Multi-Asset Fund/Fidelity® Sustainable Multi-Asset Fund
Investment Objective
The fund seeks total return.
Fee Table
The following table describes the fees and expenses that may be incurred when you buy and hold shares of the fund.
Shareholder fees
0
Annual Operating Expenses
(expenses that you pay each year as a % of the value of your investment)
0.0010
0
0.0047
0.0042
Based on estimated amounts for the current fiscal year.
January 31, 2024
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:
43
140
Portfolio Turnover
The fund will not incur transaction costs, such as commissions, when it buys and sells shares of underlying Fidelity® funds (or "turns over" its portfolio), but it could incur transaction costs if it were to buy and sell other types of securities
directly. If the fund were to buy and sell other types of securities directly, a higher portfolio turnover rate could indicate higher
transaction costs and could result in higher taxes when fund shares are held in a taxable account. Such costs, if incurred,
would not be reflected in annual operating expenses or in the example and would affect the fund's performance.
Principal Investment Strategies
Normally investing at least 80% of assets in Fidelity® funds (including mutual funds and exchange traded funds (ETFs)) that invest in securities of issuers that Fidelity Management
& Research Company (the Adviser) believes have proven or improving sustainability practices based on an evaluation of such
issuer’s individual environmental, social, and governance (ESG) profile and in Fidelity® index funds that track an ESG index (underlying Fidelity funds).
Allocating assets according to a neutral asset allocation strategy in which 70% of the fund’s assets are allocated to
underlying Fidelity® U.S. and international equity mutual funds and ETFs and 30% to underlying Fidelity® bond mutual funds and ETFs. To reflect the Adviser's market outlook, which is primarily focused on the intermediate term,
the Adviser may overweight or underweight each asset class within the following ranges: equity funds (60%-80%) and bond funds
(20%-40%).
The Adviser may invest up to 10% of the fund’s total assets in commodities, high yield debt (also referred to as junk
bonds), floating rate debt, real estate debt, international debt, emerging markets debt or short term funds, but no more than
25% in aggregate within those asset classes.
Buying and selling futures contracts (both long and short positions) in an effort to manage cash flows efficiently, remain
fully invested, or facilitate asset allocation.
Actively managed underlying funds employ sustainable investing exclusion criteria to avoid investments in issuers that are
directly engage in, and/or derive significant revenue from, certain industries. Please see “Fund Basics – Investment
Details – Sustainable Investing Exclusions” for additional information.
Principal Investment Risks
Asset Allocation Risk. The fund is subject to risks resulting from the Adviser's asset allocation decisions. The selection of underlying funds and
the allocation of the fund's assets among various asset classes could cause the fund to lose value or its results to lag relevant
benchmarks or other funds with similar objectives.
Investing in ETFs. ETFs may trade in the secondary market at prices below the value of their underlying portfolios and may not be liquid. ETFs
that track an index are subject to tracking error and may be unable to sell poorly performing assets that are included in
their index or other benchmark.
Investing in Other Funds. The fund bears all risks of investment strategies employed by the underlying funds, including the risk that the underlying
funds will not meet their investment objectives.
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.
Interest Rate Changes. Interest rate increases can cause the price of a debt security to decrease.
Sustainability Risk. Application of FMR’s 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.
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. 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.
Prepayment. The ability of an issuer of a debt security to repay principal prior to a security's maturity can cause greater price volatility
if interest rates change.
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. Changes in the financial condition of an issuer or counterparty (e.g., broker-dealer or other borrower in a securities lending
transaction) can increase the risk of default by an issuer or counterparty, which can affect a security's or instrument's
value or result in delays in recovering securities and/or capital from a counterparty. A decline in the credit quality of
an issuer or a provider of credit support or a maturity-shortening structure for a security can cause the price of a security
to decrease.
Correlation to Index. The performance of an underlying index fund and its index may vary somewhat due to factors such as fees and expenses of the
underlying fund, transaction costs, sample selection, regulatory restrictions, and timing differences associated with additions
to and deletions from the index. Errors in the construction or calculation of the index may occur from time to time and may
not be identified and corrected for some period of time, which may have an adverse impact on an underlying fund and its shareholders.
Passive Management Risk. Some of the underlying funds in which the fund invests are managed with a passive investment strategy, attempting to track
the performance of an unmanaged index of securities, regardless of the current or projected performance of an underlying fund's
index or of the actual securities included in the index. This differs from an actively managed fund, which typically seeks
to outperform a benchmark index. As a result, the performance of these underlying funds could be lower than actively managed
funds that may shift their portfolio assets to take advantage of market opportunities or lessen the impact of a market decline
or a decline in the value of one or more issuers. An underlying index fund may be concentrated to approximately the same extent
that its index concentrates in the securities of issuers in a particular industry or group of industries.
Leverage Risk. Leverage can increase market exposure, magnify investment risks, and cause losses to be realized more quickly.
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.
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.