Fidelity Total Market Index Fund Fidelity Extended Market ...

Fidelity? Total Market Index Fund Fidelity? Extended Market Index Fund Fidelity? International Index Fund

Annual Report

February 28, 2023

Contents

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 Board Approval of Investment Advisory Contracts Liquidity Risk Management Program

4 Performance 5 Management's Discussion of Fund

Performance 6 Investment Summary 7 Schedule of Investments 48 Financial Statements 52 Performance 53 Management's Discussion of Fund

Performance 54 Investment Summary 55 Schedule of Investments 94 Financial Statements 98 Performance 99 Management's Discussion of Fund

Performance 100 Investment Summary 101 Schedule of Investments 112 Financial Statements 116 123

124 130 131 132 133

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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?; and S&P?; are registered trademarks of Standard & Poor's Financial Services LLC ("S&P") and Dow Jones?; is a registered

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trademark of Dow Jones Trademark Holdings LLC ("Dow Jones"). The fund is not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, or their respective affiliates and none of such parties make any representation regarding the advisability of investing in such product(s) nor do they have any liability for any errors, omissions, or interruptions of the index or indices.

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. ? 2023 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 , , or , as applicable.

NOT FDIC INSURED ?MAY LOSE VALUE ?NO BANK GUARANTEE

Neither the Funds nor Fidelity Distributors Corporation is a bank.

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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

Periods ended February 28, 2023 Fidelity? Total Market Index Fund

Past 1 year

-8.22%

Past 5 years

9.31%

Past 10 years

11.79%

$10,000 Over 10 Years Let's say hypothetically that $10,000 was invested in Fidelity? Total Market Index Fund on February 28, 2013. The chart shows how the value of your investment would have changed, and also shows how the Dow Jones U.S. Total Stock Market Index performed over the same period.

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Annual Report

Fidelity? Total Market Index Fund

Management's Discussion of Fund Performance

Market Recap: U.S. equities returned -7.69% for the 12 months ending February 28, 2023, according to the S&P 500? index. The new year began with an encouraging upturn in January (+6.28%), but stocks lost momentum in February (-2.44%) amid higher-than-expected inflation and strong jobs data. Investors took these as signs that the economy continued to run hot, even after a year of historic policy adjustment by the Federal Reserve aimed at cooling economic growth. Record inflation in 2022 prompted the Fed to aggressively tighten monetary policy, and market interest rates eclipsed their highest level in a decade, stoking recession fears and sending stocks into bear market territory. Since March 2022, the central bank has hiked its benchmark rate eight times, by 4.5 percentage points - the fastest-ever pace of monetary tightening - while also shrinking its massive asset portfolio. The latest bump came on February 2, along with a signal that the Fed plans to lift rates in March while it considers whether and when to pause increases. Against this dynamic backdrop, stocks struggled to gain traction until a strong rally ignited heading into the summer. But in September, the index returned -9.21%, one of its worst monthly results ever, before advancing 7.56% in Q4, as risky assets regained favor. For the full 12 months, value stocks handily outpaced growth. The headwind for the latter was most pronounced in the growth-oriented communication services (-25%) and consumer discretionary (-18%) sectors. In sharp contrast, energy gained 24%. Comments from the Geode Capital Management, LLC, passive equity index team: For the fiscal year ending February 28, 2023, the fund returned -8.22%, roughly in line with the -8.23% result of the benchmark Dow Jones U.S. Total Stock Market Index. By sector, information technology returned roughly -13% and detracted most, followed by communication services, which returned about -26%, especially in the media & entertainment industry (-28%). The consumer discretionary sector returned roughly -18%, and financials (-6%) also hurt. Real estate (-13%) and health care (-2%) hampered results. Other notable detractors included the consumer staples (-1%) and utilities (-1%) sectors. Conversely, energy gained 24% and contributed most. Industrials stocks also helped (+2%), benefiting from the capital goods industry (+6%), and the materials sector rose about 1%. Turning to individual stocks, the biggest individual detractor was (-39%), from the retailing group, followed by Alphabet (-33%), which is in the media & entertainment segment. Within software & services, Microsoft returned roughly -16% and hurt. Other detractors were Apple (-10%), a stock in the technology hardware & equipment industry, and Tesla (-29%), from the automobiles & components category. Conversely, the biggest individual contributor was Exxon Mobil (+45%), from the energy sector. In pharmaceuticals, biotechnology & life sciences, Merck (+43%) and Eli Lilly (+26%) helped. Chevron, within the energy sector, advanced roughly 15% and lifted the fund. Another contributor was Caterpillar (+31%), a stock in the capital goods group.

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.

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