Fidelity Investments: Selection Criteria for Fund Picks From Fidelity

Fund Picks from Fidelity^SM displays funds in broad asset classes created by Strategic Advisers, Inc. ("Strategic"). Within the asset classes, investment categories identify funds according to their historical investment styles as measured by portfolio statistics and composition over the past three years. In some instances the investment categories are created by Strategic by combining similar Morningstar, Inc.'s Investment Categories.¹ In other cases the investment categories are represented by Morningstar categories.

Screening criteria

The universe of funds available for consideration in Fund Picks from Fidelity comprises two groups: (1) Fidelity funds and (2) FundsNetwork funds and Fidelity funds that are available at Fidelity without paying a transaction fee ("NTF funds"). There are additional funds available through FundsNetwork subject to paying a transaction fee and/or sales load that you may wish to evaluate using
Fund Evaluator^SM.²

The Fidelity funds group and FundsNetwork NTF funds are independently screened by Strategic to include only open-ended funds that are open to new investors with a minimum investment of no more than $2,500 ($10,000 for the three Municipal Bond categories). The Funds must also meet a $300 million total net asset threshold. The asset threshold is lowered for certain categories. For mid-cap categories, the threshold is $200 million. For small cap and sector fund categories, the threshold is $100 million. The funds are further screened to include only those funds that have a minimum of three years' performance history. Finally, funds in the bottom three year performance quartile for their respective investment categories are eliminated.

We then select the funds with the highest three-year risk-adjusted return (Sharpe Ratio) within their respective investment category. The results of these screens are displayed within each investment category in two alphabetically sorted lists: (1) a list of up to five no-transaction fee Fidelity mutual funds; (2) a list of up to five Fidelity mutual funds and FundsNetwork mutual funds which are available at Fidelity without paying a transaction fee.

The performance data featured represents past performance, which is no guarantee of future results. Share price, yield and return will vary and you may have a gain or loss when you sell your shares. Mutual fund performance fluctuates and currently may be significantly lower than stated. Periods of market strength may not be repeated.

High, Medium, Low Indicator for Portfolio Characteristics

Fund Picks from Fidelity^SM also provides users with relative indicators for certain portfolio characteristics of the mutual funds displayed.

Standard Deviations
Low: Less than or equal to 5
Medium: More than 5, but less than or equal to 15
High: More than 15
Correlations to Benchmark
Low: More than -1, but less than or equal to 0.7
Medium: More than 0.7, but less than or equal to 0.95
High: More than 0.95
Portfolio Turnover
Low: More than 0%, but less than or equal to 50%
Medium: More than 50%, but less than or equal to 100%
High: More than 100%

Before applying the screening criteria, Strategic makes minor refinements to certain Morningstar Investment Categories: Short-Term Bond and Short-Term Government categories are combined and labeled as Short-Term Taxable Bond Category; Intermediate-Term Bond and Intermediate-Term Government categories are combined and labeled as Intermediate Term Taxable Bond Category; Long-Term Bond and Long-Term Government categories are combined and labeled as Long-Term Taxable Bond Category. Conservative Allocation and Moderate Allocation are combined and labeled as Domestic Hybrid. Additionally, the Foreign Stock category is modified to represent only Foreign Stock funds that have an investment objective of foreign stock and the domestic equity categories only include funds with the following investment objectives: Growth, Growth and Income, Income, Equity Income, Small Company and Aggressive Growth.
Fidelity reserves the right to change the funds available without transaction fees and reinstate the fees on any funds. Fidelity will charge a short term trading fee each time you sell or exchange shares of FundsNetwork No Transaction Fee (NTF) funds held less than 60 days (short-term trade). If these funds are held for more than 60 days they may be sold without a short term trading fee. Fidelity funds, money market funds, funds redeemed through the Personal Withdrawal Service, and shares purchased through dividend reinvestment may be sold without this fee. At the time you purchase shares of a fund, those shares will be assigned either a transaction fee (TF) or no transaction fee (NTF) status. When you subsequently sell those shares, any applicable fees will be assessed based on the status assigned to the shares at the time of purchase. The fee will be based on the following schedule:

Online: $75 flat fee Fidelity Automated Service Telephone (FAST): 25% off representative-assisted rates, Maximum: $187.50, Minimum: $75 Representative-Assisted: 0.75% of principal, Maximum: $250, Minimum: $100
In addition, if you place more than 15 short term trades in a 12-month period in your account, Fidelity will charge a transaction fee each time you purchase or exchange shares including automatic investments of FundsNetwork funds (typically available without paying a transaction fee or load) in that account for the following 12 months. Fidelity funds, money market funds, funds redeemed through the Personal Withdrawal Service, and shares purchased through dividend reinvestment are excluded from this fee.
Please be aware that certain FundsNetwork funds may be subject to separate and additional redemption fees imposed by the particular fund. Please refer to that fund's current prospectus for details.

In addition to sales loads and 12b-1 fees described in the prospectus, FBS or NFS receives other compensation in connection with the purchase of certain mutual fund shares and/or the on-going maintenance of those positions in your brokerage account. This additional compensation may be paid by the mutual fund, its investment advisor or one of its affiliates. Additional information about the compensation as well as other remuneration received by FBS or NFS will be furnished to you upon written request.

Fidelity mutual funds are managed by Fidelity Management & Research Company. Fidelity Freedom Funds are managed by Strategic Advisers, Inc., a registered investment advisor and a Fidelity Investments company. Non-Fidelity funds are managed by non-Fidelity entities.

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	Fund Picks from Fidelity^SM displays funds in broad asset classes created by Strategic Advisers, Inc. ("Strategic"). Within the asset classes, investment categories identify funds according to their historical investment styles as measured by portfolio statistics and composition over the past three years. In some instances the investment categories are created by Strategic by combining similar Morningstar, Inc.'s Investment Categories.¹ In other cases the investment categories are represented by Morningstar categories. Screening criteria The universe of funds available for consideration in Fund Picks from Fidelity comprises two groups: (1) Fidelity funds and (2) FundsNetwork funds and Fidelity funds that are available at Fidelity without paying a transaction fee ("NTF funds"). There are additional funds available through FundsNetwork subject to paying a transaction fee and/or sales load that you may wish to evaluate using Fund Evaluator^SM.² The Fidelity funds group and FundsNetwork NTF funds are independently screened by Strategic to include only open-ended funds that are open to new investors with a minimum investment of no more than $2,500 ($10,000 for the three Municipal Bond categories). The Funds must also meet a $300 million total net asset threshold. The asset threshold is lowered for certain categories. For mid-cap categories, the threshold is $200 million. For small cap and sector fund categories, the threshold is $100 million. The funds are further screened to include only those funds that have a minimum of three years' performance history. Finally, funds in the bottom three year performance quartile for their respective investment categories are eliminated. We then select the funds with the highest three-year risk-adjusted return (Sharpe Ratio) within their respective investment category. The results of these screens are displayed within each investment category in two alphabetically sorted lists: (1) a list of up to five no-transaction fee Fidelity mutual funds; (2) a list of up to five Fidelity mutual funds and FundsNetwork mutual funds which are available at Fidelity without paying a transaction fee. The performance data featured represents past performance, which is no guarantee of future results. Share price, yield and return will vary and you may have a gain or loss when you sell your shares. Mutual fund performance fluctuates and currently may be significantly lower than stated. Periods of market strength may not be repeated. High, Medium, Low Indicator for Portfolio Characteristics Fund Picks from Fidelity^SM also provides users with relative indicators for certain portfolio characteristics of the mutual funds displayed. Standard Deviations Low: Less than or equal to 5 Medium: More than 5, but less than or equal to 15 High: More than 15 Correlations to Benchmark Low: More than -1, but less than or equal to 0.7 Medium: More than 0.7, but less than or equal to 0.95 High: More than 0.95 Portfolio Turnover Low: More than 0%, but less than or equal to 50% Medium: More than 50%, but less than or equal to 100% High: More than 100% Before applying the screening criteria, Strategic makes minor refinements to certain Morningstar Investment Categories: Short-Term Bond and Short-Term Government categories are combined and labeled as Short-Term Taxable Bond Category; Intermediate-Term Bond and Intermediate-Term Government categories are combined and labeled as Intermediate Term Taxable Bond Category; Long-Term Bond and Long-Term Government categories are combined and labeled as Long-Term Taxable Bond Category. Conservative Allocation and Moderate Allocation are combined and labeled as Domestic Hybrid. Additionally, the Foreign Stock category is modified to represent only Foreign Stock funds that have an investment objective of foreign stock and the domestic equity categories only include funds with the following investment objectives: Growth, Growth and Income, Income, Equity Income, Small Company and Aggressive Growth. Fidelity reserves the right to change the funds available without transaction fees and reinstate the fees on any funds. Fidelity will charge a short term trading fee each time you sell or exchange shares of FundsNetwork No Transaction Fee (NTF) funds held less than 60 days (short-term trade). If these funds are held for more than 60 days they may be sold without a short term trading fee. Fidelity funds, money market funds, funds redeemed through the Personal Withdrawal Service, and shares purchased through dividend reinvestment may be sold without this fee. At the time you purchase shares of a fund, those shares will be assigned either a transaction fee (TF) or no transaction fee (NTF) status. When you subsequently sell those shares, any applicable fees will be assessed based on the status assigned to the shares at the time of purchase. The fee will be based on the following schedule: Online: $75 flat fee Fidelity Automated Service Telephone (FAST): 25% off representative-assisted rates, Maximum: $187.50, Minimum: $75 Representative-Assisted: 0.75% of principal, Maximum: $250, Minimum: $100 In addition, if you place more than 15 short term trades in a 12-month period in your account, Fidelity will charge a transaction fee each time you purchase or exchange shares including automatic investments of FundsNetwork funds (typically available without paying a transaction fee or load) in that account for the following 12 months. Fidelity funds, money market funds, funds redeemed through the Personal Withdrawal Service, and shares purchased through dividend reinvestment are excluded from this fee. Please be aware that certain FundsNetwork funds may be subject to separate and additional redemption fees imposed by the particular fund. Please refer to that fund's current prospectus for details. In addition to sales loads and 12b-1 fees described in the prospectus, FBS or NFS receives other compensation in connection with the purchase of certain mutual fund shares and/or the on-going maintenance of those positions in your brokerage account. This additional compensation may be paid by the mutual fund, its investment advisor or one of its affiliates. Additional information about the compensation as well as other remuneration received by FBS or NFS will be furnished to you upon written request. Fidelity mutual funds are managed by Fidelity Management & Research Company. Fidelity Freedom Funds are managed by Strategic Advisers, Inc., a registered investment advisor and a Fidelity Investments company. Non-Fidelity funds are managed by non-Fidelity entities.