Fidelity Inflation-Protected Bond Index Fund
FIPDX
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- Fidelity Inflation-Protected Bond Index Fund (FIPDX) is an open-end mutual fund that seeks to provide investment results corresponding to the total return of the Bloomberg U.S. Treasury Inflation-Protected Securities (TIPS) Index (Series-L); it normally invests at least 80% of its assets in inflation-protected debt securities included in the index, including U.S. Treasury Inflation-Protected Securities across various maturities such as notes with coupons ranging from 0.125% to 1.875%; the fund may also engage in leveraging transactions through derivatives like interest rate swaps, total return swaps, credit default swaps, futures contracts, and forward-settling securities to manage risk exposure and maintain index alignment. Launched on May 16, 2012, and domiciled in the United States, the fund is managed by Fidelity Management & Research Company LLC (FMRCo), with a portfolio team that as of October 2025 includes Brandon Bettencourt (since May 2014), Mark Lande (since October 2024), and Van Eswara (since October 2025); it operates within the inflation-protected bond category, targeting institutional and retail investors seeking protection against inflation and low real interest rate volatility, with assets under management reaching approximately $10.93 billion as of November 30, 2025. The fund trades on NASDAQ and emphasizes high credit quality with moderate interest-rate sensitivity, holding top positions in U.S. Treasury TIPS notes; it distributes dividends periodically, with recent payouts and a holdings turnover rate of around 23%. Recent portfolio management changes include the addition of Mark Lande and Van Eswara as co-managers in October 2024 and October 2025, respectively, reflecting Fidelity's ongoing enhancements to its index fund oversight amid evolving market conditions; the fund has maintained its strategy without major structural shifts, acquisitions, or new product launches specific to FIPDX, though Fidelity Investments as a whole pursued strategic initiatives like the acquisition of equity management software provider Shoobx in early 2023 to bolster workplace investing services. Geographically, the fund focuses exclusively on U.S. Treasury securities, serving a primarily domestic investor base through Fidelity's global distribution network.