The Fidelity Small Cap Index Fund posted a 0.91% return for the first quarter of 2026, in line with its benchmark. The performance matched the Russell 2000 Index advance of 0.89%. Securities lending income helped results during the period.
The fund used an optimization approach to track the index while limiting transaction costs and managing exposures. Certain benchmark securities that the fund could not hold created some misweights. Market conditions shifted in late February after joint U.S.–Israeli strikes on Iran. Crude oil prices rose sharply to $120 per barrel as a result. Energy stocks led the market with a 38% gain for the quarter. Growth-oriented consumer discretionary and information technology sectors each fell 5%. Bloom Energy Corp Class A was the largest contributor to the fund, adding 36 basis points.