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Fidelity Series Total Market Index Fund in registration
Hard to say as there are no expenses listed. Thought it may be a retirement type offering or advisor type of fund, but not sure after reading below excerpt.
Eligibility requirements to purchase shares are as follows:
Buying Shares
Eligibility
Shares are generally available only to investors residing in the United States.
Shares are offered only to certain other Fidelity® funds.
There is no minimum balance or purchase minimum for fund shares.
Fidelity has a whole series of Series funds that are designed to be used exclusively in its funds of funds. I have no idea what this buys them, but it is not uncommon for fund families to do this, even with index funds.
@Rbrt is correct that FSKAX is a virtually identical (clone) fund, with the exception that is is open to (institutional) investors outside of Fidelity. Also, the new fund has not named the individuals within Geode Capital (the submanagement company) responsible for day-to-day management. Presumably they'll be the same people as for FSKAX.
In contrast, FZROX tracks a proprietary index, rather than the Dow Jones U.S. Total Stock Market Index℠. In addition, there are only two day-to-day managers on FZROX, while FSKAX has more managers, including the two managing FZROX.
Comments
Eligibility requirements to purchase shares are as follows:
Buying Shares
Eligibility
Shares are generally available only to investors residing in the United States.
Shares are offered only to certain other Fidelity® funds.
There is no minimum balance or purchase minimum for fund shares.
@Rbrt is correct that FSKAX is a virtually identical (clone) fund, with the exception that is is open to (institutional) investors outside of Fidelity. Also, the new fund has not named the individuals within Geode Capital (the submanagement company) responsible for day-to-day management. Presumably they'll be the same people as for FSKAX.
In contrast, FZROX tracks a proprietary index, rather than the Dow Jones U.S. Total Stock Market Index℠. In addition, there are only two day-to-day managers on FZROX, while FSKAX has more managers, including the two managing FZROX.
Thank you again for clarifying this filing!