MUTUAL FUND Investor Guide THE Investor Guide TO FIDELITY FUNDS

MARCH 2017

MUTUAL FUND Investor Guide

THE Investor Guide TO FIDELITY FUNDS



Matthew D. Sauer

Founder & Chief Investment Officer

Matthew Sauer is the Founder and Chief Investment Officer of the Mutual Fund Investor Guide family of newsletters. Each month he analyzes and provides buy, sell and hold recommendations for hundreds of mutual funds and ETFs in three newsletters: The Investor Guide to Fidelity Funds, The ETF Investor Guide and The Investor Guide to Vanguard Funds.

Matthew is also the Founder and Chief Investment Officer of MDS Wealth Advisors, a Registered Investment Advisor that provides personalized investment solutions.

In This Issue

1 Fidelity Update

2 Portfolio Updates

3 Model Portfolios

5 Data & Rankings

11 Fund Spotlight:

Fidelity Select Technology (FSPTX)

Market Perspective: Economic Optimism Remains High

The Dow Jones Industrial Average rose for 12 consecutive trading sessions, one of the longest trends in history. The winning streak also carried the major domestic indexes to new all-time highs. Foreign markets also rallied, but the stronger U.S. dollar cut into returns. Healthcare, financials and consumer staples joined utilities in outperforming the S&P 500 Index.

Earnings season is nearly complete, and the expected earnings growth rate has risen to 4.9 percent from an initial 3.1 percent. Eight of 11 sectors had beaten earnings estimates as of March 1. Analysts are optimistic about the current quarter as well, with S&P 500 earnings growth estimates of 9.3 percent at the end of February.

The second estimate of fourth-quarter GDP matched the first, at 1.9 percent. Looking ahead to the current quarter, the consensus anticipates 2.2 percent growth due to stronger housing data. New and existing home sales increased in January, as did residential home construction. Any uptick in home construction will be positive for GDP growth moving forward.

The trade deficit will weigh on GDP growth in the near term. Advance trade in goods showed a larger-than-expected $69.2 billion deficit in January as the U.S. economy picked up steam. Rising consumer confidence has also contributed to the deficit. The Conference Board's Consumer Confidence survey jumped to 114.8 in February, the best reading since July 2001. The University of Michigan's Consumer Sentiment Index reported a January reading of 98.5, its highest since 2004.

The Chicago Purchasing Managers Index was higher than expected in February, climbing to 57.4 versus estimates of 53.5. Durable goods orders rose 1.8 percent in January, ahead of forecasts and up from a 0.8 percent decline in December. Core capital equipment orders fell 0.4 percent, however, a sign that businesses may be waiting for firm policy proposals out of Washington before spending.

The London Interbank Offered Rate (LIBOR) has been in a trading range since the end of 2016,

hovering around 0.77 percent. At the end of February, it ticked up to 0.79 percent. Floating-rate funds such as Fidelity Floating Rate High Income (FFRHX) remain the best option for rising shortterm interest rates.

While short-term rates are set to rise, long-term bond rates finished February near their 2017 lows. The 10-year Treasury dipped to 2.3 percent. Investment-grade and corporate bond funds rallied on the decline in interest rates. Fidelity Corporate Bond (FCBFX) set a three-month high in February. High-yield bond funds are also performing well. Fidelity Strategic Income (FSICX) and High Income (SPHIX) both closed the month at 52-week highs. A further dip in the 10-year yield would threaten the post-election rate rally, but rates bounced on March 1 with rate hike odds.

Fidelity Select Financial Services (FIDSX) gained 4.0 percent in February, and Fidelity Select Banking (FSRBX) climbed 3.7 percent. With proposed regulatory reforms, such as a partial repeal of Dodd-Frank, and increased GDP growth forecasts, the outlook for bank profits is optimistic even if long-term interest rates remain stable.

Healthcare also performed well in February. Fidelity Select Biotechnology (FBIOX) and Pharmaceuticals (FPHAX) saw significant rallies of 9.8 percent and 7.1 percent, respectively. Bristol-Myers (BMY) was named a potential target for Pfizer (PFE) and Gilead (GILD), sparking buying across the pharma and biotech sectors as investors pondered industry consolidation. FBIOX made a new 52-week high in February, exceeding the high set in September 2016. It has been in an uptrend since bottoming in February 2016.

Over the next few months we expect the market to continue moving higher at a slow but steady pace. The Nasdaq could potentially rise 50 percent this year if it keeps to its current 4 percent monthly clip. Financials, industrials, healthcare and consumer staples all thrived in February.

Fidelity Dividend Growth (FDGFX) climbed 4.06 percent in February, beating the S&P 500 Index.

(continued on page 2)

1

The Investor Guide TO FIDELITY FUNDS

Market Perspective: Economic Optimism Remains High (continued)

FDGFX has 20 percent of assets in technology and 18 percent in financials, two of the better-performing sectors in February. The largest holding in the fund is Apple (AAPL), at 4.5 percent of assets. Shares gained 13.4 percent last month after the company reported strong earnings. Apple's sales declined for three consecutive years, but rebounded to a new all-time high of $78.4 billion in the last quarter of 2016. Bank of America (BAC) and JPMorgan Chase (JPM) also boosted results with gains of 9 percent and 7 percent, respectively.

Fidelity Mega Cap Stock (FGRTX) also benefited from tech and financial exposure. It has nearly 21 percent of assets in financials, 20 percent in technology and 13 percent in healthcare. Fidelity Equity Dividend Income (FEQTX) rallied 3.43 percent last month with 29 percent of assets in the financial sector, a nearly 2 percent overweighting versus its benchmark, Russell 3000 Value Index. Fidelity New Millennium (FMILX) rose 3.28 percent as value sectors rebounded and tech remained on track.

Several Fidelity Global Portfolio funds bested the MSCI EAFE Index in February. Global Equity Income (FGILX), the largest holding in the portfolio at 32 percent of assets, displayed the strongest performance due to domestic exposure. FGILX has 52 percent of assets in the United States. Fidelity International Small Cap Opportunities (FSCOX) has much smaller exposure to the United States at 7 percent of assets, while Europe and Japan comprise 80 percent. Currency effects weighed on results, but manager Jed Weiss continues to find opportunities overseas.

Portfolio Updates

The Dow Jones Industrial Average rallied 4.77 percent in February, leading all major indexes. The Nasdaq climbed 3.75 percent, and the S&P 500 Index increased 3.72 percent. The Russell 2000 trailed with a gain of 1.83 percent. A stronger U.S. dollar cut into the return of the MSCI EAFE Index, which rose only 1.20 percent.

We made no changes to the Model Portfolios this month.

The Fidelity Select Sector Portfolio advanced 4.46 percent in February. The portfolio is up 8.19 percent this year. Healthcare (FSPHX) overtook Technology (FSPTX) with a 7.20 percent gain. The two funds are up 13.04 percent and 12.93 percent yearto-date. Financial Services (FIDSX) and Industrials (FCYIX) came on strong late in the month with gains of 4.01 percent and 2.37 percent, respectively.

The Fidelity Straight Growth Portfolio increased 3.71 percent last month. It is up 4.48 percent in 2017. Dividend Growth (FDGFX) was the best performer, climbing 4.06 percent. Contrafund (FCNTX) rode the extended tech rally to a return of 3.85 percent. Mega Cap Stock (FGRTX) benefited from financial exposure, gaining 3.71 percent.

The Fidelity Balanced Growth Portfolio increased 2.69 percent in February. Contrafund (FCNTX) led this portfolio with its

gain of 3.85 percent, while Mega Cap Stock (FGRTX) advanced 3.71 percent and Fidelity Fund (FFIDX) climbed 3.50 percent.

The Fidelity Global Portfolio increased 1.84 percent last month as the stronger U.S. dollar chipped away at returns. Global Equity Income (FGILX) led this portfolio with a gain of 3.00 percent. The fund benefited from solid U.S. exposure and technology and financial sector weighting. Global Balanced (FGBLX) increased 1.46 percent. The portfolio is up 4.48 percent this year.

The Fidelity Conservative Income Portfolio increased 1.61 percent in February. It is up 2.24 percent this year. Equity Dividend Income (FEQTX) led with a 3.43 percent gain. Strategic Income (FSICX) climbed 1.18 percent, and Floating Rate High Income (FFRHX) rose 0.49 percent.

The Diversified Sector Portfolio climbed 4.19 percent last month. The portfolio is up 7.04 percent in 2017. Fidelity Select Healthcare (FSPHX) rallied 7.20 percent to lead the portfolio, followed by Rydex Biotechnology (RYOIX), which returned 6.94 percent. Fidelity Select Technology (FSPTX) added 5.37 percent. Fidelity MSCI Industrials (FIDU) delivered a solid return of 3.21 percent.

The NTF Straight Growth Portfolio advanced 3.02 percent last month. The portfolio is up 4.49 percent this year. Fidelity Dividend Growth (FDGFX) rose 4.06 percent, followed by Fidelity Equity Dividend

Income (FEQTX), up 3.43 percent. FAM Value (FAMXV) gained 3.00 percent.

The NTF Balanced Growth Portfolio gained 2.25 percent last month. The portfolio is up 2.94 percent in 2017. Fidelity Dividend Growth (FDGFX) was the leader here as well, rising 4.06 percent. Federated MDT Stock (FSTKX) and Fidelity New Millennium (FMILX) both gained 3.28 percent.

The Tax Advantage Portfolio increased 1.89 percent in February. It is up 3.44 percent this year. Fidelity Puritan (FPURX) led with a 2.90 percent gain, followed by the 2.16 percent increase in Fidelity LowPriced Stock (FLPSX). Parnassus Core Equity (PRBLX) gained 1.92 percent.

The Aggressive Value Portfolio advanced 5.41 percent last month. It is up 9.15 percent year-to-date. Fidelity Select Biotechnology (FBIOX) led with a return of 9.84 percent. ICON Information Technology (ICTEX) increased 4.82 percent. Fidelity Select Consumer Staples (FDFAX) gained 4.71 percent.

The Absolute Return/Down Market Portfolio gained 0.29 percent last month. It is up 0.49 percent this year. Calamos Market Neutral (CVSIX) increased 1.07 percent to lead the portfolio. DoubleLine Core Fixed Income (DLFNX) rose 0.66 percent, and Fidelity Floating Rate High Income (FFRHX) advanced 0.49 percent.

2 MARCH 2017 | PHONE: (888) 252-5372

Model Portfolios

Fidelity Select Sector Fund Portfolio

SYMBOL

FSPTX FIDSX FSPHX FCYIX

Fund

Technology Financial Services Healthcare Industrials

Price

146.96 103.05 208.91

33.72

TOTAL

Fidelity Straight Growth Portfolio

SYMBOL

Fund

FDGFX

Dividend Growth

FCNTX FLPSX FVDFX FCPEX FGRTX

Contrafund Low-Priced Stock Value Discovery Small Cap Enhanced Mega Cap Stock

Price

33.84

106.03 51.14 27.15 14.32 18.18

TOTAL

Fidelity Balanced Growth Portfolio

SYMBOL

Fund

Price

FGRTX FFIDX FSICX FCBFX FCNTX

Mega Cap Stock Fidelity Fund Strategic Income Fidelity Corporate Bond Contrafund

18.18 43.72 10.87 11.40 106.03

TOTAL

Fidelity Global Portfolio

SYMBOL

Fund

FSCOX FIGRX FGBLX FGILX FGHNX

International Small Cap Opp International Discovery Global Balanced Global Equity Income Global High Income

Price

15.37 38.04 22.93 12.71

9.50

TOTAL

Fidelity Conservative Income Portfolio

SYMBOL

Fund

Price

FFRHX FSTFX FSICX FEQTX

Floating Rate High Income Limited Term Muni Strategic Income Equity Dividend Income

9.67 10.51 10.87 27.77

TOTAL

Shares 417.25 497.33 147.61 1586.72

Shares 1871.57

351.31 621.50 1202.72 1302.25 969.78

Shares 1883.82

745.80 3266.94 2647.97

333.69

Shares 2792.95

365.60 1255.24 3889.83 1900.46

Shares 3223.65 1557.83 3844.14 1471.65

(Data provided as of 2/28/17)

Allocation 31.14% 26.03% 15.66% 27.17%

100.00%

1 MONTH 5.37% 4.01% 7.20% 2.37%

4.46%

YTD 12.93% 4.39% 13.04% 4.23%

8.19%

Total Return $61,318.76 $51,250.24 $30,838.21 $53,504.05

$196,911.25

Allocation 31.46% 18.50% 15.79% 16.22% 9.26% 8.76%

100.00%

1 MONTH 4.06% 3.85% 2.16% 3.15% 1.06% 3.71%

3.26%

YTD 5.06% 8.38% 3.35% 5.03% 0.63% 4.48%

4.90%

Total Return $63,334.09 $37,249.79 $31,783.58 $32,653.79 $18,648.15 $17,630.68

$201,300.08

Allocation 20.39% 19.42% 21.15% 17.98% 21.07%

100.00%

1 MONTH 3.71% 3.50% 1.18% 1.13% 3.85%

2.69%

YTD 4.48% 6.25% 2.54% 1.59% 8.38%

4.66%

Total Return $34,247.90 $32,606.36 $35,511.62 $30,186.84 $35,381.11

$167,933.83

Allocation 28.04% 9.08% 18.80% 32.29% 11.79%

100.00%

1 MONTH 1.32% 0.74% 1.46% 3.00% 1.43%

1.84%

YTD 5.64% 4.28% 3.76% 4.44% 3.26%

4.48%

Total Return $42,927.58 $13,907.55 $28,782.67 $49,439.72 $18,054.39

$153,111.91

Allocation 23.94% 12.58% 32.09% 31.39%

100.00%

1 MONTH 0.49% 0.40% 1.18% 3.43%

1.61%

YTD 0.91% 1.01% 2.54% 3.46%

2.24%

Total Return $31,172.70 $16,372.81 $41,785.80 $40,867.80

$130,199.10

User Guide

Rank: Our proprietary ranking system uses both technical and fundamental analysis to identify those funds expected to outperform over the following 6 months, on a risk adjusted basis.

Advice: Based on technical and fundamental indicators, we issue buy, hold and sell recommendations based upon expected future performance. We often avoid recommending funds that are extraordinarily volatile or are exposed to significant market risk.

Performance Returns: YTD, 1-month, 3-month and 1-year returns are calculated each month based on the trailing returns. For 3-year and 5-year periods, returns are annualized.

Yield %: We use the 30-day SEC Yield to provide the expected income generated by each fund, as reported by the fund in its most recent filing.

Beta: The 3-year Beta is the measure of the volatility, or systematic risk of the fund as compared to the market. A Beta of 1.3 will typically be 30% more volatile than the market.

Standard Deviation (SD): Also used to measure volatility, is determined from the monthly returns of the fund over the previous 3 years. Those funds with higher standard deviations are more volatile as compared to those with a lower standard deviation.

Expense Ratio: The expense ratio is the fee charged by the mutual fund. This charge is deducted from the return of the fund, impacting performance. Please note, funds may have different share classes with varying expenses associated with each class.

| MARCH 2017 3

The Investor Guide TO FIDELITY FUNDS

Diversified Sector Portfolio

SYMBOL

Fund

FSPHX FSPTX FIDU HSFNX RYOIX

Fidelity Select Healthcare Fidelity Select Technology Fidelity MSCI Industrials Hennessy Sm Cap Financial Rydex Biotechnology

TOTAL

NTF Straight Growth Portfolio

SYMBOL

Fund

JAENX FDGFX FEQTX FAMVX PRBLX

Janus Enterprise Dividend Growth Equity Dividend Income FAM Value Parnassus Core Equity

TOTAL

Price 208.91 146.96

33.81 25.53 80.47

Price 100.06 33.84

27.77 68.66 40.84

NTF Balanced Growth Portfolio

SYMBOL

Fund

FMILX FDGFX FCBFX FSTKX PCKDX MWLDX

Fidelity New Millennium Fidelity Dividend Growth Fidelity Corporate Bond Federated MDT Stock PIMCO Small Cap MetWest Low Duration

Price

37.74 33.84 11.40 28.32

9.59 8.72

TOTAL

Tax Advantage Portfolio

SYMBOL

Fund

PRBLX FPURX PSHDX FLPSX FCVSX

Parnassus Core Equity Puritan PIMCO Short-Term Fidelity Low-Priced Stock Convertible Securities

TOTAL

Price

40.84 21.67 9.82 51.14 27.46

Aggressive Value Portfolio

SYMBOL

Fund

FDFAX ICTEX FCPGX FBIOX FSRBX

Fidelity Consumer Staples ICON Info Technology Fidelity Sm Cap Growth Fidelity Select Biotech Fidelity Select Banking

Price

97.01 16.31 21.99 203.21 33.63

TOTAL

Absolute Return/Down Market Portfolio

SYMBOL

Fund

Price

CVSIX PSSDX MWLDX FFRHX DLFNX

Calamos Market Neutral PIMCO Short Strategy MetWest Low Duration Floating Rate High Income DoubleLine Core Fixed Inc

13.22 9.22 8.72 9.67 10.87

TOTAL

Shares 127.25 396.46 1219.18 2007.90 275.63

Shares 269.19 1203.73 1473.58 490.27 804.80

Allocation 13.32% 29.20% 20.66% 25.69% 11.12%

100.00%

Allocation 15.38% 23.26% 23.37% 19.22% 18.77%

100.00%

Shares

427.49 731.74 2524.94 1085.94 1741.61 3525.47

Allocation 10.91% 16.74% 19.46% 20.80% 11.29% 20.79%

100.00%

Shares

556.45 1883.28 2223.91

917.32 765.69

Allocation 14.82% 26.62% 14.24% 30.60% 13.71%

100.00%

Shares 478.88 1761.63 1007.28 187.41 1074.79

Shares 1999.90

938.98 3544.25 1930.54 1964.41

Allocation 27.08% 16.75% 12.91% 22.20% 21.07%

100.00%

Allocation 24.94% 8.17% 29.15% 17.61% 20.14%

100.00%

1 MONTH 7.20% 5.37% 3.21% 1.07% 6.94%

4.19%

1 MONTH 2.21% 4.06% 3.43% 3.00% 1.92%

3.02%

1 MONTH 3.28% 4.06% 1.13% 3.28% 2.57% 0.21%

2.25%

1 MONTH 1.92% 2.90% 0.21% 2.16% 1.14%

1.89%

1 MONTH 4.71% 4.82% 3.19% 9.84% 3.73%

5.41%

1 MONTH 1.07% -2.95% 0.21% 0.49% 0.66%

0.29%

4 MARCH 2017 | PHONE: (888) 252-5372

YTD 13.04% 12.93% 4.92% -2.26% 13.43%

7.04%

Total Return $26,584.54 $58,263.13 $41,220.31 $51,261.81 $22,180.28

$199,510.06

YTD 6.13% 5.06% 3.46% 4.31% 3.95%

4.49%

Total Return $26,934.70 $40,734.30 $40,921.24 $33,662.04 $32,868.09

$175,120.38

YTD 4.72% 5.06% 1.59% 4.00% 3.56% 0.29%

2.94%

Total Return $16,133.43 $24,762.16 $28,784.35 $30,753.92 $16,701.99 $30,742.10

$147,877.95

YTD 3.95% 5.30% 0.40% 3.35% 2.81%

3.44%

Total Return $22,725.49 $40,810.64 $21,838.83 $46,911.88 $21,025.73

$153,312.58

YTD 7.94% 9.76% 6.80% 16.75% 4.44%

9.15%

Total Return $46,456.59 $28,732.17 $22,150.04 $38,082.97 $36,145.26

$171,567.04

YTD 1.61% -4.16% 0.29% 0.49% 1.23%

0.49%

Total Return $26,438.65

$8,657.39 $30,905.88 $18,668.32 $21,353.09

$106,023.32

Data & Rankings

Symbol

Name

FARNX FBCVX FBGRX FCNTX FCPEX FCPGX FCPVX FDCAX FDEGX FDEQX FDFFX FDGFX FDGRX FDLO FDMO FDRR FDSCX FDSSX FDSVX FDVLX FDVV FEQIX FEQTX FEXPX FFIDX FGRIX FGRTX FLCEX FLCSX FLGEX FLPSX FLVCX FLVEX FMAGX FMCSX FMEIX FMILX FNCMX FOCPX FQAL FSCLX FSCRX FSDIX FSEMX FSLCX FSLSX FSLVX FSMVX FSSMX FSSPX FSTMX FTQGX FTRNX FUSEX FVAL FVDFX ONEQ

Fidelity? Event Driven Opportunities Fidelity? Blue Chip Value Fidelity? Blue Chip Growth Fidelity? Contrafund? Fidelity? Small Cap Enhanced Index Fidelity? Small Cap Growth Fidelity? Small Cap Value Fidelity? Capital Appreciation Fidelity? Growth Strategies Fidelity? Disciplined Equity Fidelity? Independence Fidelity? Dividend Growth Fidelity? Growth Company Fidelity? Low Volatility Factor ETF Fidelity? Momentum Factor ETF Fidelity? Dividend ETF for Rising Rates Fidelity? Stock Selector Small Cap Fidelity? Stock Selec All Cp Fidelity? Growth Discovery Fidelity? Value Fidelity? Core Dividend ETF Fidelity? Equity-Income Fidelity? Equity Dividend Income Fidelity? Export & Multinational

Fidelity Fund Fidelity? Growth & Income Portfolio Fidelity? Mega Cap Stock Fidelity? Large Cap Core Enhanced Index Fidelity? Large Cap Stock Fidelity? Large Cap Growth Enhanced Idx Fidelity? Low-Priced Stock Fidelity? Leveraged Company Stock Fidelity? Large Cap Value Enhanced Index Fidelity? Magellan? Fidelity? Mid-Cap Stock Fidelity? Mid Cap Enhanced Index Fidelity? New Millennium Fidelity? Nasdaq Composite Index? Fidelity? OTC Portfolio Fidelity? Quality Factor ETF

Fidelity Mid Cap Index Investor Fidelity? Small Cap Discovery Fidelity? Strategic Dividend & Income?

Fidelity Extended Market Index Inv Fidelity? Small Cap Stock Fidelity? Value Strategies Fidelity? Stock Selec Lg Cp Val Fidelity? Mid Cap Value Fidelity Advisor? Stock Selector Mid Cp

Fidelity Small Cap Index Inv

Fidelity Total Market Index Inv Fidelity? Focused Stock Fidelity? Trend

Fidelity 500 Index Inv Fidelity? Value Factor ETF Fidelity? Value Discovery Fidelity? Nasdaq Composite Tr Stk ETF

FBIOX FBMPX FBSOX FCYIX FDCPX FDFAX FDLSX FIDSX FNARX FPHAX FSAGX FSAIX FSAVX FSCGX FSCHX

Fidelity? Select Biotechnology Portfolio Fidelity? Select Multimedia Portfolio Fidelity? Select IT Services Portfolio Fidelity? Select Industrials Portfolio Fidelity? Select Computers Portfolio Fidelity? Select Consumer Staples Port Fidelity? Select Leisure Portfolio Fidelity? Select Financial Services Port Fidelity? Select Natural Resources Port Fidelity? Select Pharmaceuticals Port Fidelity? Select Gold Portfolio Fidelity? Select Air Transportation Port Fidelity? Select Automotive Port Fidelity? Select Industrial Equip Port Fidelity? Select Chemicals Portfolio

(Data provided as of 2/28/17)

NAV Rank

Advice

% Return (3 and 5 Years Annualized)

Beta SD Expense

YTD 1 Month 3 Month 1 Year 3 Year 5 Year Yield % 3 Year 3 Year Ratio

FIDELITY GROWTH FUNDS

13.76 93 Strong Buy 6.25 1.33 8.85 34.95 10.13

1.26 15.58 1.04

18.45 93

Buy

6.89 3.77 9.88 24.99 9.90 13.21

0.97 10.71 0.88

73.36 93 Strong Buy 8.91 3.88 9.59 23.25 8.64 14.12

1.06 12.62 0.82

106.03 99 Strong Buy 8.40 3.85 8.97 20.21 8.19 12.96

0.91 10.39 0.68

14.32 88

Buy

0.63 1.06 5.06 31.16 8.45 13.90

1.11 15.17 0.67

21.99 89

Hold

6.80 3.19 8.16 32.86 7.82 13.98

1.00 14.47 1.11

18.91 95

Buy

0.53 0.32 3.65 24.38 9.14 14.04

0.88 12.25 1.17

33.44 85

Sell

5.56 2.29 5.59 18.03 5.66 12.53

1.07 12.47 0.60

36.59 92

Buy

7.65 3.89 8.66 17.05 8.32 12.12

0.94 10.66 0.94

35.21 85

Buy

5.99 3.68 7.62 19.38 7.66 12.78

0.99 10.44 0.68

35.88 78

Hold

7.17 4.36 7.65 20.30 2.74 11.33

1.18 14.17 0.54

33.84 95 Strong Buy 5.06 4.06 7.05 19.89 7.84 11.58

0.95 10.02 0.61

147.85 86

Buy

8.09 3.64 9.60 29.85 9.95 14.74

1.22 14.11 0.77

27.14 83

Hold

4.97 4.13 6.59

0.29

27.20 83

Hold

6.50 3.90 8.31

0.29

27.96 84

Hold

5.55 4.06 7.21

0.29

26.94 90

Buy

2.90 2.24 5.64 29.11 6.10 11.36

1.08 13.75 0.88

39.01 92

Buy

7.20 3.75 8.99 26.69 8.19 12.99

1.05 11.22 0.63

27.97 84

Buy

10.03 4.29 10.74 21.61 7.04 13.00

0.96 11.72 0.78

115.37 93 Strong Buy 5.09 3.17 7.21 28.86 7.34 13.77

1.08 12.21 0.61

26.99 83

Hold

3.21 2.47 4.54

0.29

59.57 84 Strong Buy 3.94 3.13 6.11 27.87 8.46 12.23 2.00 0.93 10.10 0.63

27.77 90 Strong Buy 3.46 3.43 5.80 25.33 9.46 12.62 2.15 0.92 9.85 0.62

22.26 79 Strong Buy 6.76 4.07 7.69 20.89 8.80 11.54

0.93 9.89 0.76

43.72 92

Buy

6.25 3.50 7.61 20.08 8.00 12.13 0.68 0.98 10.68 0.52

34.36 91 Strong Buy 4.37 3.37 6.44 30.09 9.51 13.63 1.48 1.09 11.79 0.64

18.18 99 Strong Buy 4.48 3.71 6.45 28.16 9.30 13.45 0.83 1.09 11.78 0.68

13.21 91

Buy

5.51 4.10 7.52 23.09 9.56 13.45

0.99 10.36 0.45

30.81 94

Buy

4.94 3.46 7.05 33.28 8.54 14.48

1.15 12.61 0.77

16.65 96 Strong Buy 6.73 4.19 8.42 21.33 10.23 13.59

1.01 10.78 0.45

51.14 94 Strong Buy 3.35 2.16 3.94 17.95 6.07 11.44

0.82 9.35 0.88

35.45 80

Hold

6.49 2.31 7.49 27.30 4.02 11.26

1.18 14.01 0.80

12.53 87

Buy

4.42 4.16 7.07 28.30 10.16 14.42

0.99 10.75 0.45

97.24 89

Hold

6.44 3.93 7.60 21.78 8.81 13.57

1.06 11.43 0.83

36.16 89 Strong Buy 4.45 2.79 6.22 27.16 6.11 12.16

0.94 10.89 0.72

14.77 85

Buy

4.68 2.93 6.23 24.85 8.58 14.14

0.97 11.14 0.60

37.74 89 Strong Buy 4.72 3.28 6.67 28.58 6.03 12.36

1.01 11.21 0.57

76.54 90

Buy

8.37 3.88 9.66 29.21 11.79 15.71

1.18 13.23 0.29

92.25 87

Buy

10.72 4.75 12.65 33.90 10.93 15.94

1.30 16.21 0.90

28.03 84

Hold

6.68 4.38 8.43

0.29

19.11 89

Buy

5.29 2.85 6.48 26.62 8.26 13.40

1.03 11.34 0.22

31.85 88

Buy

0.66 0.13 3.13 26.10 7.17 13.54

1.01 13.92 1.00

15.13 97 Strong Buy 3.56 2.86 5.95 19.72 8.57 10.73 2.45 1.11 7.61 0.75

58.10 85

Buy

4.61 2.43 6.52 32.50 6.88 13.00

1.12 13.51 0.10

19.23 86 Strong Buy 2.07 0.89 5.07 22.54 7.77 10.68

1.02 12.47 0.99

40.61 90 Strong Buy 6.48 3.60 8.91 29.16 7.13 12.29

1.10 12.40 0.55

19.45 91

Buy

4.29 3.68 6.65 26.27 9.26 13.42

0.94 10.26 0.80

25.91 96 Strong Buy 4.56 2.65 7.42 25.14 8.72 14.43

1.00 11.17 0.85

37.11 81

Hold

6.64 3.80 8.27 27.60 6.76

1.09 12.27 0.63

18.77 89

Buy

2.34 1.96 5.20 36.21 7.01 12.90

1.19 15.69 0.23

68.20 91

Buy

5.69 3.68 7.75 26.22 9.80 13.73

1.02 10.71 0.10

19.60 80

Hold

6.75 3.27 7.24 17.83 3.02 11.44

0.95 11.73 0.62

89.35 86

Buy

7.77 3.38 8.99 22.65 8.65 13.56

1.04 11.71 0.73

82.98 90

Buy

5.92 3.96 8.02 24.88 10.54 13.91

1.00 10.40 0.10

28.88 86

Buy

5.78 3.81 7.82

0.29

27.15 97 Strong Buy 5.03 3.15 8.19 24.60 9.51 13.96

0.92 10.00 0.86

229.68 92

Buy

8.53 3.91 9.66 29.69 11.99 15.77 0.94 1.18 13.21 0.21

FIDELITY SELECT SECTOR FUNDS

203.21 91 Strong Buy 16.75 9.84 10.24 29.67 3.91 22.19

1.55 30.30 0.73

80.76 84

Buy

8.39 0.40 10.13 26.86 7.59 16.90

1.14 15.03 0.80

44.84 90

Hold

6.99 5.66 8.05 21.05 10.18 17.31

0.97 13.65 0.80

33.72 89 Strong Buy 4.23 2.37 5.06 25.18 7.67 13.04

0.99 13.40 0.76

83.01 90 Strong Buy 11.90 7.23 13.66 41.57 7.98 9.78

1.26 16.81 0.79

97.01 91 Strong Buy 7.94 4.71 11.10 12.24 9.91 11.66

0.63 10.49 0.76

141.37 85

Sell

3.30 1.89 2.18 11.26 6.63 11.92

0.69 11.02 0.78

103.05 99 Strong Buy 4.39 4.01 9.20 38.78 10.04 13.85

0.95 13.40 0.75

29.13 44

Sell

-4.74 -4.08 -5.67 34.54 -5.97 -1.73

1.17 22.11 0.85

18.11 81

Buy

6.28 7.10 7.04 0.57 2.30 13.13

0.82 14.31 0.77

21.02 55

Hold

9.71 -3.18 12.28 20.38 -0.90 -13.85

0.60 41.78 0.93

76.05 84

Sell

2.38 3.23 4.32 26.31 11.81 18.53

0.82 14.51 0.82

36.78 80

Hold

5.27 -0.14 8.87 16.80 0.32 9.11

1.39 17.67 0.86

40.61 81 Strong Buy 3.81 2.47 3.79 21.11 6.24 10.45

0.99 13.37 0.82

162.40 86

Hold

10.18 4.35 10.49 38.01 8.27 13.39

1.24 16.35 0.79

| MARCH 2017 5

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