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[Pages:128]Fidelity? Total Market Index Fund Fidelity? Extended Market Index Fund Fidelity? International Index Fund

Annual Report

February 28, 2022

Contents

Note to Shareholders Fidelity? Total Market Index Fund

Fidelity? Extended Market Index Fund

Fidelity? International Index Fund

Notes to Financial Statements Report of Independent Registered Public Accounting Firm Trustees and Officers Shareholder Expense Example Distributions Liquidity Risk Management Program

3 4 5

6 7 47 50 51

52 53 91 94 95

96 97 108 112 118

Performance Management's Discussion of Fund Performance Investment Summary Schedule of Investments Financial Statements Performance Management's Discussion of Fund Performance Investment Summary Schedule of Investments Financial Statements Performance Management's Discussion of Fund Performance Investment Summary Schedule of Investments Financial Statements

119 125 126 127

To view a fund's proxy voting guidelines and proxy voting record for the 12-month period ended June 30, visit or visit the Securities and Exchange Commission's (SEC) web site at .

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The funds or securities referred to herein are not sponsored, endorsed, or promoted by MSCI, and MSCI bears no liability with respect to any such funds or securities or any index on which such funds or securities are based. The prospectus contains a more detailed description of the limited relationship MSCI has with Fidelity and any related funds.

Standard & Poor's, S&P and S&P 500 are registered service marks of The McGraw-Hill Companies, Inc. and have been licensed for use by Fidelity Distributors Corporation.

Other third-party marks appearing herein are the property of their respective owners.

All other marks appearing herein are registered or unregistered trademarks or service marks of FMR LLC or an affiliated company. ? 2022 FMR LLC. All rights reserved.

This report and the financial statements contained herein are submitted for the general information of the shareholders of the Funds. This report is not authorized for distribution to prospective investors in the Funds unless preceded or accompanied by an effective prospectus. A fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-PORT. Forms N-PORT are available on the SEC's web site at . A fund's Forms N-PORT may be reviewed and copied at the SEC's Public Reference Room in Washington, DC. Information regarding the operation of the SEC's Public Reference Room may be obtained by calling 1-800-SEC-0330. For a complete list of a fund's portfolio holdings, view the most recent holdings listing, semiannual report, or annual report on Fidelity's web site at , . com, or , as applicable. NOT FDIC INSURED ?MAY LOSE VALUE ?NO BANK GUARANTEE Neither the Funds nor Fidelity Distributors Corporation is a bank.

Annual Report

Note to Shareholders:

Early in 2020, the outbreak and spread of COVID-19 emerged as a public health emergency that had a major influence on financial markets, primarily based on its impact on the global economy and corporate earnings. On March 11, 2020, the World Health Organization declared the COVID-19 outbreak a pandemic, citing sustained risk of further global spread. The pandemic prompted a number of measures to limit the spread of COVID-19, including travel and border restrictions, quarantines, and restrictions on large gatherings. In turn, these resulted in lower consumer activity, diminished demand for a wide range of products and services, disruption in manufacturing and supply chains, and ? given the wide variability in outcomes regarding the outbreak ? significant market uncertainty and volatility. To help stem the turmoil, the U.S. government took unprecedented action ? in concert with the U.S. Federal Reserve and central banks around the world ? to help support consumers, businesses, and the broader economy, and to limit disruption to the financial system.

In general, the overall impact of the pandemic lessened in 2021, amid a resilient economy and widespread distribution of three COVID-19 vaccines granted emergency use authorization from the U.S. Food and Drug Administration (FDA) early in the year. Still, the situation remains dynamic, and the extent and duration of its influence on financial markets and the economy is highly uncertain, due in part to a recent spike in cases based on highly contagious variants of the coronavirus.

Extreme events such as the COVID-19 crisis are exogenous shocks that can have significant adverse effects on mutual funds and their investments. Although multiple asset classes may be affected by market disruption, the duration and impact may not be the same for all types of assets. Fidelity is committed to helping you stay informed amid news about COVID-19 and during increased market volatility, and we continue to take extra steps to be responsive to customer needs. We encourage you to visit us online, where we offer ongoing updates, commentary, and analysis on the markets and our funds.

3

Annual Report

Fidelity? Total Market Index Fund

Performance: The Bottom Line

Average annual total return reflects the change in the value of an investment, assuming reinvestment of distributions from dividend income and capital gains (the profits earned upon the sale of securities that have grown in value, if any) and assuming a constant rate of performance each year. The hypothetical investment and the average annual total returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. During periods of reimbursement by Fidelity, a fund's total return will be greater than it would be had the reimbursement not occurred. How a fund did yesterday is no guarantee of how it will do tomorrow.

Average Annual Total Returns

For the periods ended February 28, 2022

Fidelity? Total Market Index Fund

Past 1 year

11.94%

Past 5 years

14.60%

Past 10 years

14.20%

$10,000 Over 10 Years Let's say hypothetically that $10,000 was invested in Fidelity? Total Market Index Fund on February 29, 2012. The chart shows how the value of your investment would have changed, and also shows how the Dow Jones U.S. Total Stock Market IndexSM performed over the same period.

Period Ending Values $37,728Fidelity? Total Market Index Fund $37,693 Dow Jones U.S. Total Stock Market IndexSM

Annual Report

4

Fidelity? Total Market Index Fund

Management's Discussion of Fund Performance

Market Recap: The S&P 500? index gained 16.39% for the 12 months ending February 28, 2022. U.S. large-cap equities retreated to begin the new year after posting a strong result in 2021 amid improved economic growth, strong corporate earnings, widespread COVID-19 vaccination, and accommodative fiscal and monetary stimulus. These tailwinds, among others, have supported the historic rebound for U.S. stocks since the early-2020 outbreak and spread of COVID-19. The uptrend was briefly interrupted in September, with the index returning -4.65% as sentiment turned broadly negative due to a host of factors. These included inflationary pressure from surging commodity prices, rising bond yields, supply constraint and disruption, and the delta variant of the coronavirus. Also, the U.S. Federal Reserve signaled it could soon begin to taper the bond purchases it has made since the onset of the pandemic. The S&P 500? reversed course in October, rising 7.01% on earnings strength, followed by a 4.48% advance in December, after studies suggested that the omicron variant resulted in fewer severe COVID-19 cases. Uncertainty then washed over the market as the calendar turned. Stocks slid as investors digested geopolitical unrest, with Russia invading and escalating its attack on Ukraine, and the Fed's accelerated plan to hike interest rates amid soaring inflation. The year-to-date pullback for the index was -8.01%. For the full 12 months, energy stocks rose 55%, driven by surging oil prices, whereas communications services (+1%) notably lagged.

Comments from the Geode Capital Management, LLC, passive equity index team: For the fiscal year, the fund gained 11.94%, roughly in line with the 11.93% advance of the benchmark Dow Jones U.S. Total Stock Market Index. By sector, information technology rose about 13% and contributed most. Financials, which gained 21%, also helped. The energy sector rose 53%. Consumer staples gained 21%, health care advanced approximately 7%, and industrials advanced roughly 7%. Other notable contributors included the real estate (+18%), consumer discretionary (+4%), utilities (+19%), and materials (+16%) sectors. Conversely, stocks in the communication services sector returned -2% and detracted most. Turning to individual stocks, the top contributor was Apple (+37%), from the technology hardware & equipment group. In software & services, Microsoft (+30%) was helpful, while Alphabet (+33%) from the media & entertainment category also contributed. Nvidia, within the semiconductors & semiconductor equipment segment, rose 78% and Tesla, within the automobiles & components industry, gained 29% and boosted the fund. Conversely, the biggest individual detractor was PayPal Holdings (-57%), from the software & services category. In media & entertainment, Meta Platforms (-18%), Disney (-21%), and Netflix (-27%) hurt. Zoom Video Communications, within the software & services group, returned roughly -65% and hindered the fund.

The views expressed above reflect those of the portfolio manager(s) only through the end of the period as stated on the cover of this report and do not necessarily represent the views of Fidelity or any other person in the Fidelity organization. Any such views are subject to change at any time based upon market or other conditions and Fidelity disclaims any responsibility to update such views. These views may not be relied on as investment advice and, because investment decisions for a Fidelity fund are based on numerous factors, may not be relied on as an indication of trading intent on behalf of any Fidelity fund.

5

Annual Report

Fidelity? Total Market Index Fund

Investment Summary (Unaudited)

Top Ten Stocks as of February 28, 2022

Apple, Inc. Microsoft Corp. , Inc. Alphabet, Inc. Class A Alphabet, Inc. Class C Tesla, Inc. NVIDIA Corp. Berkshire Hathaway, Inc. Class B Meta Platforms, Inc. Class A UnitedHealth Group, Inc.

% of fund's net assets 5.8 5.1 3.0 1.8 1.7 1.6 1.4 1.3 1.1 1.0

23.8

Top Market Sectors as of February 28, 2022

Information Technology Health Care Financials Consumer Discretionary Industrials Communication Services Consumer Staples Energy Real Estate Materials

% of fund's net assets 27.1 13.1 12.2 11.8 8.8 8.7 5.7 3.6 3.4 2.8

Annual Report

6

Fidelity? Total Market Index Fund

Schedule of Investments February 28, 2022

Showing Percentage of Net Assets

Common Stocks ? 99.7%

Shares

Value

COMMUNICATION SERVICES ? 8.7%

Diversified Telecommunication Services ? 1.0% Anterix, Inc. (a) AST SpaceMobile, Inc. (a)(b) AT&T, Inc. ATN International, Inc. Bandwidth, Inc. (a)(b) Cogent Communications Group, Inc. Consolidated Communications Holdings, Inc. (a) EchoStar Holding Corp. Class A (a)(b) Frontier Communications Parent, Inc. (a) Globalstar, Inc. (a)(b) IDT Corp. Class B (a) Iridium Communications, Inc. (a) Liberty Global PLC:

Class A (a) Class C (a) Liberty Latin America Ltd.: Class A (a) Class C (a) Lumen Technologies, Inc. Ooma, Inc. (a) Radius Global Infrastructure, Inc. (a) Verizon Communications, Inc.

Entertainment ? 1.4% Activision Blizzard, Inc. AMC Entertainment Holdings, Inc. Class A (a)(b) Ballantyne of Omaha, Inc. (a) Chicken Soup For The Soul Entertainment, Inc. (a)(b) Cinedigm Corp. (a)(b) Cinemark Holdings, Inc. (a)(b) CuriosityStream, Inc. Class A (a)(b) Dolphin Entertainment, Inc. (a) Electronic Arts, Inc. Gaia, Inc. Class A (a) Lions Gate Entertainment Corp.:

Class A (a)(b) Class B (a) Live Nation Entertainment, Inc. (a) LiveOne, Inc. (a) Madison Square Garden Entertainment Corp. (a)(b) Madison Square Garden Sports Corp. (a) Marcus Corp. (a)(b) Motorsport Games, Inc. Class A (a)(b) Netflix, Inc. (a) Playstudios, Inc. Class A (a) Playtika Holding Corp. (a) Reading International, Inc. Class A (a) Redbox Entertainment, Inc. (a)(b) Reservoir Media, Inc. (a) Roku, Inc. Class A (a) Sciplay Corp. (A Shares) (a) Skillz, Inc. (a)(b) TakeTwo Interactive Software, Inc. (a) The Walt Disney Co. (a)

26,451 79,690 11,435,533 17,036 37,243 66,520 110,609 69,893 331,599 1,067,098 31,682 214,179

$1,409,309 564,205

270,907,777 567,810

1,137,774 4,217,368

787,536 1,701,196 9,135,552 1,259,176 1,142,453 8,479,347

175,177 637,155

4,516,063 16,483,200

54,858 264,040 1,491,197 31,427 103,101 6,623,622

551,323 2,664,164 15,448,801

525,459 1,325,879 355,489,793 698,314,185

1,247,864 818,855 23,510 14,702 172,863 166,755 37,463 7,242 451,359 15,337

101,700,916 15,443,605

65,828 142,609 136,596 2,924,883 137,115 30,344 58,717,292 104,138

179,930 119,348 216,600 69,111 41,498 28,500 41,151

3,147 709,408 122,479 164,283 27,398 17,415 42,822 188,592 39,902 406,553 184,376 2,909,664

2,763,725 1,700,709 26,169,612

59,118 3,251,783 4,930,500

748,125 10,731 279,875,644 558,504 3,384,230 121,373 32,740 307,462 26,314,242 520,322 1,264,380 29,868,912 431,968,717

Warner Music Group Corp. Class A World Wrestling Entertainment, Inc. Class A Zynga, Inc. (a)

Interactive Media & Services ? 5.0% Alphabet, Inc.:

Class A (a) Class C (a) Angi, Inc. (a)(b) Autoweb, Inc. (a)(b) Bumble, Inc. (b) CarGurus, Inc. Class A (a) , Inc. (a) Creatd, Inc. (a)(b) DHI Group, Inc. (a) Eventbrite, Inc. (a)(b) EverQuote, Inc. Class A (a) fuboTV, Inc. (a)(b) IAC (a) Izea Worldwide, Inc. (a) Kubient, Inc. (a)(b) Liberty TripAdvisor Holdings, Inc. (a) Match Group, Inc. (a) MediaAlpha, Inc. Class A (a)(b) Meta Platforms, Inc. Class A (a) NerdWallet, Inc. (b) Nextdoor Holdings, Inc. (a)(b) Outbrain, Inc. Pinterest, Inc. Class A (a) QuinStreet, Inc. (a) Snap, Inc. Class A (a) Society Pass, Inc. (b) Super League Gaming, Inc. (a)(b) Travelzoo, Inc. (a) TripAdvisor, Inc. (a) TrueCar, Inc. (a) Twitter, Inc. (a) Vimeo, Inc. (a) Yelp, Inc. (a) Zedge, Inc. (a) Ziff Davis, Inc. (a) ZipRecruiter, Inc. (a) Zoominfo Technologies, Inc. (a)

Media ? 1.1% Advantage Solutions, Inc. Class A (a) Altice U.S.A., Inc. Class A (a) AMC Networks, Inc. Class A (a)(b) Audacy, Inc. Class A (a) Boston Omaha Corp. (a) Cable One, Inc. Cardlytics, Inc. (a)(b) Cbdmd, Inc. (a)(b) Charter Communications, Inc. Class A (a) Clear Channel Outdoor Holdings, Inc. (a) Comcast Corp. Class A

See accompanying notes which are an integral part of the financial statements.

7

Shares

175,463 74,183 1,668,932

Value

$6,355,270 4,396,085 15,153,903

1,019,159,413

481,231 448,062 120,975

6,653 114,729 140,803 110,752

3,582 99,689 126,087 31,519 225,861 134,740 76,210 10,430 107,591 452,476 32,872 3,788,827 11,622 120,120 11,828 897,991 76,551 1,710,706 4,312 63,028 7,598 160,194 153,372 1,277,818 248,101 108,283 20,075 76,195 18,444 482,716

170,835 358,980 47,913 191,452 27,653

7,997 53,560 50,529 197,713 740,980 7,301,045

1,299,872,303 1,208,790,625

833,518 16,366 2,940,504 6,821,905 1,791,967 5,086 564,240 1,905,175 469,003 1,931,112 15,462,762 82,307 20,234 228,093 50,446,549 472,042 799,556,162 133,072 753,152 154,237 24,021,259 861,199 68,325,598 11,254 141,183 74,156 4,075,335 512,262 45,426,430 3,222,832 3,669,711 140,124 7,665,217 368,511 26,399,738 3,578,165,223

1,344,471 4,149,809 1,985,994

593,501 774,007 11,458,501 3,106,480 43,455 118,979,729 2,771,265 341,396,864

Annual Report

Schedule of Investments ? continued

Common Stocks ? continued

COMMUNICATION SERVICES ? continued

Media ? continued comScore, Inc. (a)(b) Cumulus Media, Inc. (a) Daily Journal Corp. (a)(b) DallasNews Corp. Digital Media Solutions, Inc. Class A (a)(b) Discovery Communications, Inc.:

Class A (a) Class C (nonvtg.) (a) DISH Network Corp. Class A (a) E.W. Scripps Co. Class A (a) Emerald Holding, Inc. (a) Entravision Communication Corp. Class A Fluent, Inc. (a)(b) Fox Corp.: Class A Class B Gannett Co., Inc. (a)(b) Gray Television, Inc. Hemisphere Media Group, Inc. (a) iHeartMedia, Inc. (a) Insignia Systems, Inc. (a)(b) Integral Ad Science Holding Corp. Interpublic Group of Companies, Inc. John Wiley & Sons, Inc. Class A Lee Enterprises, Inc. (a) Liberty Broadband Corp.: Class A (a) Class C (a) Liberty Media Corp.: Liberty Braves Class A (a) Liberty Braves Class C (a) Liberty Formula One Group Series C (a) Liberty Media Class A (a) Liberty SiriusXM Series A Liberty SiriusXM Series C (a) Loyalty Ventures, Inc. (a) Magnite, Inc. (a) Marchex, Inc. Class B (a) Mediaco Holding, Inc. (a) National CineMedia, Inc. News Corp.: Class A Class B Nexstar Broadcasting Group, Inc. Class A Nextplay Technologies, Inc. (a) Omnicom Group, Inc. Paramount Global Class B PubMatic, Inc. (a)(b) Saga Communications, Inc. Class A Salem Communications Corp. Class A (a) Scholastic Corp. Sinclair Broadcast Group, Inc. Class A Sirius XM Holdings, Inc. (b) Stagwell, Inc. (a)

Shares

Value

92,260 23,165 1,984 3,909 25,067

$241,721 265,471 641,546 25,291 85,729

271,876 479,760 395,393 95,768 42,037 94,991 74,191

7,626,122 13,418,887 12,636,760 2,131,796

150,492 607,942 105,351

627,602 109,235 219,560 143,029 19,748 179,686

507 23,383 626,450 70,134 8,452

26,252,592 4,179,331 1,089,018 3,351,169

105,652 3,854,265

4,152 437,496 23,053,360 3,528,442 281,452

22,182 241,884

3,212,175 35,484,383

24,095 62,805 330,914 32,992 23,937 356,345 31,511 181,620 35,256

178 107,997

617,555 1,551,284 20,096,407 1,852,831 1,205,467 17,931,280

756,264 2,648,020

68,749 1,034 320,751

690,633 136,420 66,178 100,008 339,720 921,114 46,783

7,361 7,646 50,277 77,434 1,475,030 94,948

15,414,929 3,059,901 12,246,239

59,185 28,499,111 28,195,300 1,431,560

169,450 27,296 2,115,656 2,323,020 9,086,185 719,706

TechTarget, Inc. (a)(b) Tegna, Inc. The New York Times Co. Class A Thryv Holdings, Inc. (a) Townsquare Media, Inc. (a) Urban One, Inc.:

Class A (a) Class D (nonvtg.) (a) ViacomCBS, Inc. Class A (b) WideOpenWest, Inc. (a)

Wireless Telecommunication Services ? 0.2% Gogo, Inc. (a)(b) KORE Group Holdings, Inc. (a) NII Holdings, Inc. (a)(c) Shenandoah Telecommunications Co. Spok Holdings, Inc. TMobile U.S., Inc. (a) Telephone & Data Systems, Inc. U.S. Cellular Corp. (a)

TOTAL COMMUNICATION SERVICES

CONSUMER DISCRETIONARY ? 11.8% Auto Components ? 0.3% Adient PLC (a) American Axle & Manufacturing Holdings, Inc. (a) Aptiv PLC (a) Autoliv, Inc. BorgWarner, Inc. CooperStandard Holding, Inc. (a) Dana, Inc. Dorman Products, Inc. (a) Fox Factory Holding Corp. (a) Garrett Motion, Inc. (a)(b) Gentex Corp. Gentherm, Inc. (a) Holley, Inc. (a) Horizon Global Corp. (a) LCI Industries Lear Corp. Luminar Technologies, Inc. (a)(b) Modine Manufacturing Co. (a) Motorcar Parts of America, Inc. (a)(b) Patrick Industries, Inc. QuantumScape Corp. Class A (a)(b) Standard Motor Products, Inc. Stoneridge, Inc. (a) Strattec Security Corp. (a) Superior Industries International, Inc. (a) Sypris Solutions, Inc. (a) Tenneco, Inc. (a) The Goodyear Tire & Rubber Co. (a) Veoneer, Inc. (a) Visteon Corp. (a)

See accompanying notes which are an integral part of the financial statements.

Annual Report

8

Shares

40,967 350,042 268,600 25,563

7,785

Value

$3,210,993 8,022,963 11,815,714 777,115 88,827

5,499 38,819 59,067 83,183

29,255 174,686 2,011,231 1,413,279 807,315,914

106,885 79,518 149,032 78,495 30,552 938,975 152,977 28,689

1,522,042 410,313 38,748

1,754,363 267,636

115,691,110 2,654,151 789,234

123,127,597

6,226,082,332

149,812 183,058 431,649 126,252 383,003 28,839 229,930 45,778 67,971 92,281 378,072 54,198 64,299 37,011 40,569 96,205 344,610 80,051 28,082 36,284 396,768 32,227 42,614

4,907 42,371 11,882 117,897 445,120 160,095 44,782

6,704,087 1,695,117 55,872,647 11,111,439 15,706,953

366,832 4,281,297 4,276,581 8,021,937

669,037 11,444,239 4,598,158

833,958 196,158 5,051,652 15,136,895 4,834,878 808,515 453,524 2,588,501 6,403,836 1,408,642 703,557 186,466 165,247 29,824 2,273,054 6,894,909 5,675,368 5,381,453

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