Fidelity Mid Cap Growth Index Fund
FMDGX
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- Fidelity Mid Cap Growth Index Fund (FMDGX) is an open-end fund managed by Fidelity Management & Research Company LLC that seeks investment results corresponding to the total return performance of the Russell Midcap Growth Index. The fund invests at least 80% of its assets in common stocks included in the Russell Midcap Growth Index, a float-adjusted, market capitalization-weighted index measuring the mid-cap U.S. growth equity segment; it may also invest in securities not included in the index, such as exchange-traded funds, futures, options, and swap contracts, as well as up to 20% in non-U.S. equities. Key holdings as of recent data include Howmet Aerospace Inc., Cloudflare Inc., Vertiv Holdings Co., Royal Caribbean Group, Roblox Corp., Vistra Corp., Cencora Inc., Hilton Worldwide Holdings Inc., Alnylam Pharmaceuticals Inc., and Axon Enterprise Inc., representing exposure across sectors like industrials, technology, consumer cyclical, utilities, healthcare, and communication services; the portfolio typically comprises around 280-291 holdings with approximately 25% concentrated in its top 10 positions. Launched on July 11, 2019, the fund is part of Fidelity Salem Street Trust and is headquartered in Boston, Massachusetts, with co-management by Geode Capital Management, LLC. It primarily targets individual and institutional investors seeking low-cost, passive exposure to mid-cap growth stocks in the U.S. equity market, categorized under Morningstar's Mid-Cap Growth peer group. Geographically, the fund focuses on U.S.-domiciled companies, with minimal non-U.S. stock allocation of about 0.63%; no significant subsidiaries or parent fund relationships beyond Fidelity's broader mutual fund family are noted. No major acquisitions, partnerships, funding rounds, name changes, or strategic reorganizations have been reported for the fund within the last 1-2 years; it maintains a passive indexing approach with a low expense ratio, team-managed structure, and recent performance reflecting benchmark-aligned returns, including a 1-year total return of approximately 28.14% as of mid-2025 data.