Fidelity SAI Enhanced Core Bond Fund
Fidelity Salem Street Trust · 1 share class
Fund classification
Classified from what the fund holds · as of 2026 Q2
Fidelity SAI Enhanced Core Bond Fund is an actively managed U.S. bond fund.
- Asset class
- Bonds
- Region
- United States
- Management
- Actively managed
- Fund type
- Open-end fund
- Credit quality
- Investment grade
- Rate sensitivity
- Intermediate duration
Fund profile
As filed in the prospectus · 2025 Q4
Fidelity SAI Enhanced Core Bond Fund seeks a high level of current income.
The fund invests at least 80% of assets in investment-grade debt securities across all types—corporate bonds, government securities, mortgage-backed securities, loans, and hybrid instruments—using the Bloomberg U.S. Aggregate Bond Index as a structural guide for credit quality and risk characteristics while applying a research-driven approach to identify securities with potential for higher total return. The fund engages in leveraging transactions including derivatives, swaps, and forward-settling securities to adjust risk exposure. Because the fund's security selection depends on manager research rather than index replication, its returns may diverge from the Bloomberg U.S. Aggregate Bond Index.
| Share class | Gross | Net |
|---|---|---|
| FECBX | 0.24% | 0.15% |
Net is what a holder pays after the adviser's contractual waiver; gross is before it. A waiver can expire.
Portfolio turnover 180.00% · as of 2025 Q4
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| Bonds | 76.43% |
| Securitized | 30.19% |
| Cash & short-term | 9.03% |
These positions come to 115.65% of the fund's net assets. This counts only what the fund reported holding — the holdings disclosure covers assets, not liabilities such as borrowings — so it is not expected to reconcile to 100%.
Sector allocation
The same holdings as Allocation above, grouped by market sector instead of asset type · as of 2026 Q2
| Government | 39.0% |
| Securitized | 27.5% |
| Cash | 7.7% |
| Financials | 6.9% |
| 12 smaller | 19.0% |
Government, Securitized and Cash are non-corporate buckets; International is foreign holdings we don’t sector-classify, and Other is the residual (held funds, unresolved names).
Latest quarter
What changed since the fund's previous filing
Largest new: FNMA/FHLG TBA ISSUER ×6, GNMA II GTD PASS THRU CTF MULTIPLE ISSUER, UST NOTES
Largest exited: FNMA/FHLG TBA ISSUER ×6, GNMA II GTD PASS THRU CTF MULTIPLE ISSUER ×2
Return profile
Total return as filed — price change plus distributions reinvested · trailing figures to Apr 2026
May 2026 has been filed since the trailing figures were struck, so it is not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
Debt profile
What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-05-31
Share of the fund's debt by how its coupon behaves — the fact that decides whether a rate move reaches this portfolio at all.
| Fixed rate | 89.8% |
| Floating rate | 10.2% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 5.7% |
| 1-3y | 13.6% |
| 3-5y | 19.0% |
| 5-10y | 15.2% |
| 10y+ | 46.4% |
Based on what filers reported; a filer that never reported a flag also reads as none.
Risk profile
Interest-rate and credit-spread sensitivity, both in years · as of 2026Q2
Most of this fund’s sensitivity is to interest rates, with credit spreads carrying nearly as much.
Where the loss would come from. The two shocks are the same size, so this is the balance of the fund's two sensitivities rather than a bet on one moving more.
| Interest rates | 53% |
| Credit spreads | 47% |
Filers report the impact of a 0.01% move only, so the total is our own scaling of that one number and overstates the loss on most bonds — read it as approximate, never as precise. The two sensitivities overlap rather than add up: they measure the same positions against different shocks, which is why the durations above are shown side by side and never summed.
Share of the fund's spread duration carried by each credit tier.
| Investment grade | +5.27 yr |
| High yield | +0.00 yr |
Share of duration at each point, shortest first. A positive figure loses value when spreads widen; a negative one offsets — a credit hedge.
| 3 mo | 0.02 yr | 0% |
| 1 yr | 0.55 yr | 9% |
| 5 yr | 1.47 yr | 25% |
| 10 yr | 2.13 yr | 36% |
| 30 yr | 1.73 yr | 29% |
| 3 mo | 0.14 yr | 3% |
| 1 yr | 0.90 yr | 17% |
| 5 yr | 1.63 yr | 31% |
| 10 yr | 1.65 yr | 31% |
| 30 yr | 0.95 yr | 18% |
The two bands measure the same positions against different shocks and do not add — a Treasury carries rate duration and no spread duration, a floating-rate credit the reverse. Rate tenors are also summed across every currency the fund discloses.
Show the numbers
| Tenor | Rate yrs | IG yrs | HY yrs | IG $/bp | HY $/bp |
|---|---|---|---|---|---|
| 3 mo | +0.02 | +0.14 | +0.00 | $43.7k | $0 |
| 1 yr | +0.55 | +0.90 | +0.00 | $277.5k | $9 |
| 5 yr | +1.47 | +1.63 | +0.00 | $500.7k | $46 |
| 10 yr | +2.13 | +1.65 | +0.00 | $507.9k | $0 |
| 30 yr | +1.73 | +0.95 | +0.00 | $291.8k | $0 |
Dollar change per 1bp of spread movement, as filed and sign-anchored. A blank cell was not filed; a zero was.
Holdings
By % of NAV · equity positions carry filed share counts · every resolvable issuer links to its company page
| Ticker | Issuer | %NAV | Value | Shares |
|---|---|---|---|---|
| — | Fidelity Revere Street Trust | 9.03% | $277.95M | — |
| — | FNMA/FHLG TBA ISSUER2.50% · due 2056-06-01 | 2.63% | $81.02M | — |
| — | UST NOTES4.13% · due 2027-02-28 | 2.28% | $70.14M | — |
| — | UNITED STATES TREASURY BOND4.50% · due 2054-11-15 | 1.86% | $57.27M | — |
| — | UST NOTES4.50% · due 2029-05-31 | 1.81% | $55.67M | — |
| — | UST NOTES2.88% · due 2028-05-15 | 1.75% | $53.83M | — |
| — | UST NOTES3.75% · due 2027-08-15 | 1.62% | $49.89M | — |
| — | UST NOTES0.75% · due 2026-08-31 | 1.53% | $47.15M | — |
| — | FNMA/FHLG TBA ISSUER5.50% · due 2056-06-01 | 1.47% | $45.22M | — |
| — | UST NOTES3.50% · due 2026-09-30 | 1.46% | $44.96M | — |
Top 10 positions are 25.44% of net assets, top 25 44.07%, across 389 issuers.
See more of this fund's book
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