FREL Stock, Fidelity MSCI Real Estate Index Information

The investment seeks to provide investment returns that correspond before fees and expenses generally to the performance of the MSCI USA IMI Real Estate Index. The fund invests at least 80% of assets in securities included in the funds underlying index. The funds underlying index is the MSCI USA IMI Real Estate Index which represents the performance of the real estate sector in the U.S. equity market. It may or may not hold all of the securities in the MSCI USA IMI Real Estate Index. The fund invests at least 80% of assets in securities included in the funds underlying index. The funds underlying index is the MSCI USA IMI Real Estate 25/25 Index, which represents the performance of the real estate sector in the U.S. equity market. It may or may not hold all of the securities in the MSCI USA IMI Real Estate 25/25 Index.