Fidelity Extended Market Index Fund
FSMAX
NASDAQ- -
USD
- -
- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 245 Summer Street Boston MA United States of America 02210
- IPO Date
- Sep 8, 2011
- CIK
- 0000819118
- Website
- fundresearch.fidelity.com
- Similar Companies
- Business
- Fidelity Extended Market Index Fund (FSMAX) is an open-end mutual fund managed by Fidelity Investments that seeks to provide investment results corresponding to the total return performance of the Dow Jones U.S. Completion Total Stock Market Index, a float-adjusted market capitalization-weighted index comprising common stocks of approximately 3,500 mid- and small-capitalization U.S. companies excluding those in the S&P 500 Index; the fund normally invests at least 80% of its assets in common stocks included in the index, employing an optimization approach that uses historical data and correlations to construct a portfolio closely tracking the benchmark's composition and characteristics, with approximately 3,481 holdings as of recent reports. The fund offers investors broad exposure to U.S. small- and mid-cap equity markets through passive index-tracking strategies; it features a low net expense ratio of 0.04%, no front-end or deferred loads, and daily pricing, catering primarily to retail and institutional investors seeking diversified completion to large-cap indices like the S&P 500. Fidelity Investments, the fund's sponsor and investment manager headquartered in Boston, Massachusetts, oversees portfolio management by a team including Louis Bottari (since 2009), Peter Matthew (since 2012), Robert Regan (since 2016), and others, with the fund's inception dating to November 5, 1997, and total net assets exceeding $41 billion as of mid-2025. The fund operates within the mid-cap blend category per Morningstar classification, targeting U.S. domestic equities across sectors such as industrials, financials, and information technology, with geographic focus limited to U.S.-headquartered companies listed on primary U.S. exchanges. It provides no additional services beyond standard mutual fund share classes available through brokerage platforms, retirement accounts, and managed portfolios, with turnover rates typically low at around 3-15% reflecting its indexing discipline. No subsidiaries or parent relationships beyond Fidelity Investments apply, as FSMAX functions as a standalone series within Fidelity's extensive mutual fund complex. Recent developments include sustained strong performance with 2024 total returns of approximately 17% and year-to-date 2025 gains around 4-9% amid volatile small-cap markets, alongside a portfolio turnover adjustment to low single digits in the most recent fiscal year; the fund maintained its contractual expense cap through at least 2025, ensuring cost stability for investors, with no reported acquisitions, mergers, name changes, or strategic shifts specific to FSMAX in the last 1-2 years. Fidelity Investments more broadly deepened its strategic alliance with Envestnet in July 2024 through enhancements to the Fidelity Managed Account Xchange (FMAX) platform, incorporating FSMAX among other funds into unified wealth management solutions with improved onboarding, tax management, and client servicing, though this represents platform-level evolution rather than direct fund alterations; quarterly reviews as of March 31, 2025, confirmed ongoing alignment with the benchmark without material operational changes.