Fidelity Strategic Real Return Fund (FSRRX) is a mutual fund managed by Fidelity Investments that seeks total return through a combination of current income and capital appreciation by investing primarily in lower-quality debt securities and some equities. The fund employs a strategic approach to real return generation, allocating assets across inflation-protected securities, high yield bonds, floating rate loans, commodities, and real estate investment trusts (REITs); it also invests in derivatives such as futures and swaps to gain exposure to Treasury Inflation-Protected Securities (TIPS), energy, precious metals, and other inflation-hedging instruments. Fidelity Investments, the fund's sponsor, was founded in 1946 and is headquartered in Boston, Massachusetts, with global operations spanning the United States, Europe, Asia-Pacific, and other regions serving institutional and retail investors. The fund targets investors seeking protection against inflation and portfolio diversification, operating within the alternative fixed income and multi-asset segments of the investment management industry. In recent years, Fidelity has expanded its offerings through strategic enhancements, including the integration of advanced ESG (environmental, social, and governance) screening in select funds and the launch of new share classes with lower expense ratios as of 2024; additionally, Fidelity announced a major platform upgrade in early 2025 to improve real-time analytics and risk management tools across its mutual fund lineup, alongside partnerships with commodity index providers to refine inflation-linked strategies.