Fidelity Mid Cap Value Index Fund
FIMVX
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- Fidelity Mid Cap Value Index Fund (FIMVX) is an open-end mutual fund that seeks investment results corresponding to the total return performance of the Russell Midcap Value Index, focusing on mid-capitalization value stocks in the U.S. equity market; it normally invests at least 80% of its assets in common stocks included in the benchmark index or in securities that track the index, employing a representative sampling technique with approximately 714 holdings as of recent data; the portfolio emphasizes securities of companies with medium market capitalizations exhibiting value characteristics such as lower price-to-book or price-to-earnings ratios. The fund, part of Fidelity Salem Street Trust and managed by Fidelity Investments, was incepted on July 11, 2019, and is domiciled in the United States with operations targeted at U.S. investors through retail and institutional channels; portfolio managers include Louis Bottari, Payal Gupta, Peter Matthew, Robert Regan, and Navid Sohrabi, with an average tenure reflecting Fidelity's index management expertise; assets under management stand at approximately $1.46 billion to $1.79 billion, supported by a low net expense ratio of 0.06%, no-load structure, and daily pricing in USD. Geographically, the fund concentrates on U.S. stocks (98.25% allocation), with minor non-U.S. stock exposure (1.60%) and negligible cash holdings; top sectors align with the benchmark's mid-cap value composition, including financials, industrials, and real estate; leading holdings feature Arthur J. Gallagher & Co., MicroStrategy Inc., Williams Companies Inc., Howmet Aerospace Inc., and Bank of New York Mellon Corp., representing about 4.21% of the portfolio. Recent developments include steady asset growth to over $1.7 billion by late 2025 amid mid-cap value market dynamics; the fund paid semi-annual dividends, with distributions of $0.958 in August 2024 and $0.248 in December 2024; turnover remains moderate at around 38%, reflecting efficient index tracking, while performance metrics show YTD returns of approximately 3.61% to 10.94% and 5-year cumulative returns of 82.14% as of mid-2025.