FMET - Fidelity Mid Cap Index Fund Q2 2024 Review
2024-07-29 10:50:00 ET
Summary
- Fidelity Contrafund is a large-cap growth biased equity strategy focused on companies with durable multiyear earnings growth potential.
- Fidelity Mid Cap Index Fund is a diversified domestic mid-cap equity strategy that seeks to closely track the returns and characteristics of the Russell Midcap Index.
- The fund finished the second quarter roughly in line with the -3.35% result of the Russell Midcap Index.
- Large-cap growth stocks once again topped the performance leaderboard in Q2, adding to a strong year-to-date gain in what was a relatively quiet three months for asset markets.
Investment Approach
- Fidelity® Mid Cap Index Fund is a diversified domestic mid-cap equity strategy that seeks to closely track the returns and characteristics of the Russell Midcap® Index.
- The Russell Midcap® Index is a market-capitalization-weighted index designed to measure the performance of the 800 smallest companies in the Russell 1000® Index.
- The fund aims to hold each constituent security at approximately the same weight as the index.