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Fidelity® Wins Nine U.S. Lipper Fund Awards*

Awards honor individual mutual funds that have outperformed peers based on risk-adjusted, consistent return.

The Lipper Fund Awards are part of the Thomson Reuters Awards for Excellence, a global family of awards that celebrate exceptional performance throughout the professional investment community. The Thomson Reuters Awards for Excellence recognize the world's top funds, fund management firms, sell-side firms, research analysts, and investor relations teams. They also include the Extel Survey Awards, the StarMine Analyst Awards, and the StarMine Broker Rankings. Lipper designates award-winning funds in most individual classifications for the three-, five-, and ten-year periods.

"These awards reflect Fidelity's commitment to delivering strong risk-adjusted and consistent long-term investment performance for our shareholders across a deep and broad range of investment management capabilities," said Ronald P. O'Hanley, president of Fidelity's Asset Management organization. "On behalf of Fidelity and the funds' shareholders, we are truly honored to receive this recognition from Lipper."

The nine mutual funds recognized by Lipper ranged across a variety of asset classes and styles, from investment grade bond and asset allocation to international, small cap and sector funds.

"Not only do these awards recognize our portfolio managers for their incredible stewardship on the funds, but, just as importantly, they demonstrate the hard work of each and every one of our 819 investment professionals across the globe to harness Fidelity's deep and diverse capabilities to help our clients achieve their financial and business objectives," said O'Hanley.

Questions?

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information.  Read it carefully.
Past performance is no guarantee of future results.
* About Lipper Rating System Consistent Return A Lipper Leader for Consistent Return is a fund that has provided superior consistency and risk-adjusted returns when compared to a group of similar funds. Lipper Leaders for Consistent Return may be the best fit for investors who value a fund's year-to-year consistency relative to other funds in a particular peer group. Investors are cautioned that some peer groups are inherently more volatile than others, and even Lipper Leaders for Consistent Return in the most volatile groups may not be well suited to shorter-term goals or less risk-tolerant investors. How Lipper Leaders are Rated for Consistent Return Lipper Leader ratings for Consistent Return reflect funds' historic returns, adjusted for volatility, relative to peers. Ratings for Consistent Return are computed for all Lipper classifications with five or more distinct portfolios and span both equity and fixed-income funds (e.g., large-cap core, general U.S. Treasury, etc.) The ratings are subject to change every month and are calculated for the following time periods: 3-year, 5-year, 10-year, and overall. The overall calculation is based on an equal-weighted average of percentile ranks for the Consistent Return metrics over 3-year, 5-year, and 10-year periods (if applicable). The highest 20% of funds in each classification are named Lipper Leaders for Consistent Return. The next 20% receive a rating of 4; the middle 20% are rated 3; the next 20% are rated 2, and the lowest 20% are rated 1.
** The ability of each fund to meet its investment objective is directly related to its target asset allocation among the underlying funds and the ability of those funds to meet their investment objectives. Each fund is exposed to the risks associated with the underlying Fidelity funds in which it invests, including the volatility of the financial markets in the U.S. and abroad, as well as the additional risks associated with investing in high yield, small-cap, and foreign securities. If a fund's asset allocation strategy does not work as intended, the fund may not achieve its objective and the Smart Payment Program (SPP) may not work as intended, which could mean that monthly payments won't keep pace with inflation. A shareholder's investment will be reduced over time through participation in the SPP, as the SPP results in the gradual liquidation of a shareholder's entire investment in a fund by its horizon date.
Investment decisions should be based on an individual's own goals, time horizon, and tolerance for risk.
Keep in mind that investing involves risk. The value for your investment will fluctuate over time and you may gain or lose money.
Diversification does not ensure a profit or guarantee against loss.
Stock markets, especially foreign markets, are volatile and can decline significantly in response to adverse issuer, political, regulatory, market, or economic developments.
Foreign securities are subject to interest rate, currency exchange rate, economic, and political risks, aU of which are magnified in emerging markets. The risks are particularly significant for funds that focus on a single country or region. The securities of smaller, less well-known companies can be more volatile than those of larger companies.
Interest rate increases can cause the price of a debt security to decrease. Leverage can increase market exposure and magnify investment risk.
The value of the fund's domestic and foreign investments will vary from day to day in response to many factors. Stock values fluctuate in response to issuer, political, regulatory, market, or economic developments. You may have a gain or loss when you sell your shares.
Investments in foreign securities, especially those in emerging markets, involve risks in addition to those of U.S. investments, including increased political and economic risk, as well as exposure to currency fluctuations. Because FMR concentrates the fund's investments in a particular industry, the fund's performance could depend heavily on the performance of that industry and could be more volatile than the performance of less concentrated funds and the market as a whole.
Sector funds can be more volatile because of their narrow concentration in a specific industry.
Third-party marks are the property of their respective owners; all other marks are the property of FMR LLC.
Fidelity Brokerage Services LLC, Member NYSE, SIPC 900 Salem Street, Smithfield, RI 02917
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