Fidelity Concord Street Trust - Fidelity Extended Market Index Fund

What Fidelity Concord Street Trust - Fidelity Extended Market Index Fund does

Fidelity Concord Street Trust - Fidelity Extended Market Index Fund is a registered investment company trust organized under Massachusetts law and operating as part of the Fidelity Investments family of funds. The fund is managed by Fidelity Management & Research Company LLC, a subsidiary of FMR LLC (the parent operating company of Fidelity Investments), and was established in 1997. The fund employs a passive index strategy designed to replicate the performance of a specific market index, providing investors with low-cost, broad-market equity exposure.

Distribution is handled through Fidelity's proprietary online investment platform at fundresearch.fidelity.com, which provides access to 8,593+ mutual funds along with screening, research, and execution capabilities. The fund is also made available as a variable annuity subaccount through partnerships with Nationwide Life Insurance Company (Nationwide Personal IncomeSM Annuity) and New York Life Insurance and Annuity Corporation (New York Life Premier Variable Annuity - P Series). No transaction fees apply to Fidelity funds on the platform, and pricing is structured around expense ratios (subscription/recurring model), with comparable Fidelity VIP FundsManager 60 (FONWC) carrying a 0.68% gross / 0.63% net expense ratio as of 04/30/2026 plus a 0.90% annual annuity charge.

The fund's primary customer segment is individual retail investors using Fidelity's platform for long-term investing, retirement planning, and portfolio diversification. Competitive positioning rests on Fidelity's brand recognition, the structural cost advantage of index investing, and embedded multi-channel distribution (direct retail plus annuity subaccounts). Reported Net Assets of $805M as of 04/30/2025 are explicitly tied to FONWC rather than this specific fund, and specific AUM for the Extended Market Index Fund is not disclosed in the source data.

Name

Fidelity Concord Street Trust - Fidelity Extended Market Index Fund

Legal name

Fidelity Concord Street Trust

Website

https://fundresearch.fidelity.com

Company type

Private

Founded year

1997

Operating status

Operating

Short description

The Fidelity Extended Market Index Fund is a passive mutual fund trust managed by FMR LLC that replicates a broad U.S. extended market equity index, serving individual retail investors through Fidelity's online platform and variable annuity distribution partnerships.

Ownership category

akta.pro rank

NAICS

Open-End Investment Funds (525910), Portfolio Management and Investment Advice (523940)

SIC

Investment Advice (6282)

akta.pro industry

PRIMARYFSAAAEAE

Index Mutual Funds (Non-ETF)

Financial & Insurance/Asset & Wealth Management/Asset Management — Mutual Funds & UCITS

Keywords

• Index mutual funds
• Passive equity investing
• Extended market exposure
• Fund research platform
• Variable annuity subaccounts

Headquarters

HQ city

Boston

HQ country

United States

HQ region

North America

Markets served

GTM type

B2C

Offering type

Services

Cost components

Operations, Technology or R&D, Personnel, Marketing or Sales

Revenue model

1. Management Fees (Expense Ratio): Mutual funds charge expense ratios that cover management fees, administrative costs, and other operational expenses. The fund deducts these fees from fund assets, reducing returns to investors.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels2 records

Core offering

The Fidelity Extended Market Index Fund is an open-end mutual fund that passively tracks an extended U.S. equity market index to deliver diversified exposure to mid- and small-cap stocks outside the largest-cap names. It is part of the Fidelity Concord Street Trust and the broader Fidelity Investments family of funds managed by FMR LLC, and is made available to investors through Fidelity's online brokerage platform without transaction fees.

Product overview

Fidelity Concord Street Trust offers mutual fund products including the Fidelity Extended Market Index Fund. The primary products referenced in available sources are Fidelity VIP FundsManager 60 annuity products available through Fidelity's fund research platform. The fund research platform provides tools for screening and evaluating mutual funds across various asset classes including U.S. Equity, International Equity, Fixed Income, Allocation, and Sector Equity categories. The platform offers fund screening criteria including Morningstar ratings, returns, expenses, risk metrics, and sustainable investment attributes. Fund details include performance data, asset allocations, portfolio composition, and fund manager information.

Differentiator

Problem solved

Functional benefit

Quantifiable outcome

• Morningstar 4-star rating for FONWC (Fidelity VIP FundsManager 60)
• +1 more outcomes

Segments1 record

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Two partnerships are on record, tiered core.

• Nationwide Life Insurance CompanycoreChannel Partner/ Reseller/ DistributorNationwide Life Insurance Company issues the Nationwide Personal IncomeSM Annuity through Fidelity's platform. Fidelity Brokerage Services acts as distributor. The annuity offers subaccounts including Fidelity VIP FundsManager 60 (FONWC).
• New York Life Insurance and Annuity CorporationcoreChannel Partner/ Reseller/ DistributorNYLIAC issues the New York Life Premier Variable Annuity - P Series through Fidelity's platform. Nylife Distributors LLC serves as wholesale distributor. Variable annuity subaccounts include Fidelity VIP FundsManager 60 (FPVAC).

Scale indicators3 records

Recent moves3 records

Expansion highlights2 records

Direct peers

• Vanguard Extended Market Index Fund: Vanguard's flagship US extended-market (mid/small-cap) index mutual fund tracking a closely comparable benchmark. Directly competes with Fidelity Extended Market Index Fund for the same investor use case, with Vanguard historically known for the lowest expense ratios in the category.
• Fidelity Total Market Index Fund (FSKAX): Fidelity's own total-market index fund tracks the Dow Jones U.S. Total Stock Market Index. Within the same Fidelity product family, it competes with the Extended Market Index Fund for the same investor dollars, with total-market funds sometimes substituting for extended-market funds in simplified portfolio construction.
• SPDR Portfolio S&P 400 Mid Cap ETF (SPMD): State Street's SPDR mid-cap ETF tracks the S&P MidCap 400, a core mid-cap benchmark comparable to the mid-cap portion of the Fidelity Extended Market Index Fund. Directly comparable passive mid-cap exposure in ETF form.
• T. Rowe Price QM U.S. Small-Cap Index Fund: T. Rowe Price's quantitative small-cap index mutual fund targets the US small-cap segment. Directly comparable in passive small-cap exposure, mutual fund wrapper, and long-term retail investor use case, with T. Rowe Price's strong retirement-plan distribution as a counterweight.
• Schwab U.S. Broad Market ETF (SCHB): Charles Schwab's broad-market ETF tracks the Dow Jones U.S. Total Stock Market Index, encompassing the full US equity universe including extended-market names. Competes for similar passive-investor dollars, especially among cost-conscious retail and self-directed investors.
• Vanguard Mid-Cap Index Fund: Vanguard Mid-Cap Index Fund tracks the CRSP US Mid Cap Index, providing passive mid-cap exposure that overlaps significantly with the mid-cap sleeve of an extended-market index. Directly comparable in category, distribution channel, and target investor.
• iShares Russell Mid-Cap ETF (IWR): iShares' Russell Mid-Cap ETF offers passive US mid-cap exposure, a core component of the extended-market segment. Closely comparable to the mid-cap portion of the Fidelity Extended Market Index Fund, with similar passive philosophy and index-tracking methodology.
• JPMorgan Market Expansion Enhanced Index Fund: JPMorgan's enhanced index fund focused on US small-cap equities with modest active overlays. Closely comparable extended-market passive strategy with similar target investor profile and mutual fund structure.
• iShares Russell 2000 ETF (IWM): BlackRock's iShares Russell 2000 ETF provides US small-cap equity index exposure in an ETF wrapper. Directly comparable in target market segment (US small/mid-cap passive equity) though delivered via ETF rather than mutual fund structure.

Broad incumbents

• iShares Core S&P Total US Stock Market ETF (ITOT): iShares' ultra-low-cost total US equity market ETF. While broader than an extended-market fund, it represents the most common one-ticket alternative investors consider when deciding between an extended-market index fund and a total-market index fund, making it a key substitute.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Fidelity Concord Street Trust - Fidelity Extended Market Index Fund