Since first publishing of the Independent Guide to Fidelity Funds in 1987, much has changed. In that edition, Fidelity's fund lineup consisted of 85 funds - now we cover more than 200!
The most noticeable change for readers, however, is our move away from printing the Guide (which was only updated annually) to this web-based version. This exciting improvement allows us to continuously provide our readers with up-to-date data, holdings and fund returns.
As has always been the case, the Guide profiles mutual funds available to individual investors directly from Fidelity Investments. A variety of sources were used to compile the data contained on the fund pages. We have made every effort to ensure that total return calculations and other data are correct, but rounding errors and other statistical distortions may occur. Where possible, we have relied on Fidelity for factual information. Where we had to probe further, we gathered information from SEC filings, outside firms, and our own internal analysis.
Of course, investment advice is ours alone, and will change over time as market conditions warrant.
Fund return data is updated monthly whereas holdings-related data is updated as it becomes available. The lists of major fund holdings are provided solely as an indication of the types of securities a fund contains. Do not assume that these securities are still in the fund; many may have already been sold, and others purchased.
Note on expense ratios: In this Guide, we use an expense metric not usually found in other sources, the expense ratio after reductions. This measure factors in reductions to the stated expense ratio from items such as lower management fees due to poor performance (for some actively run funds, management fees are tied, in part, to fund performance and assets under management). As such it is a better measure of the expenses an investor will actually experience in a fund.