The Fidelity Russell 2000 Index Fund is a mutual fund that seeks to track the performance of the Russell 2000 Index, which is a widely followed index of small-cap stocks in the United States. The fund is managed by Fidelity Investments, a leading investment management company.
The Russell 2000 Index is made up of the 2,000 smallest companies in the Russell 3000 Index, which is a broader index that covers the entire U.S. stock market. The index is market-capitalization-weighted, which means that companies with smaller market capitalizations make up a larger percentage of the index.
As an index fund, the Fidelity Russell 2000 Index Fund seeks to replicate the performance of the Russell 2000 Index by investing in all of the stocks in the index in the same proportion as the index. This approach provides investors with exposure to a diversified portfolio of small-cap stocks, which can offer potential for growth, but also tend to be more volatile than larger-cap stocks.
The Fidelity Russell 2000 Index Fund has a low expense ratio, which means that it charges relatively low fees compared to other mutual funds. This can make it an attractive option for investors who want to gain exposure to small-cap stocks while keeping their costs low.
It's important to note that like all investments, the Fidelity Russell 2000 Index Fund is subject to market fluctuations and past performance is not a guarantee of future results. Investors should carefully consider their investment goals, risk tolerance, and investment time horizon before investing in the fund.
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