Fidelity SAI Inflation-Protected Bond Index Fund
Fidelity Salem Street Trust · Series S000086560 · 1 share classes
data updated 2026-09-08
Fund profile
As filed in the prospectus · 2026 Q1
Fidelity SAI Inflation-Protected Bond Index Fund seeks to provide investment results that correspond to the total return of the inflation-protected sector of the United States Treasury market.
The fund tracks the Bloomberg U.S. Treasury Inflation-Protected Securities Index using statistical sampling techniques across duration, maturity, and security structure to replicate returns with a smaller portfolio. Because the fund samples rather than holds all index constituents, its returns may diverge from the index. The fund may use derivatives including swaps and futures to adjust risk exposure.
| Share class | Gross | Net |
|---|---|---|
| FSPWX | 0.06% | 0.05% |
Net is what a holder pays after the adviser's contractual waiver; gross is before it. A waiver can expire.
Portfolio turnover 34.00% · as of 2026 Q1
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| Bonds | 99.43% |
| Cash & short-term | 0.10% |
Latest quarter
What changed since the fund's previous filing
New: UST NOTES
Exited: UST NOTES
Return profile
Total return as filed — price change plus distributions reinvested · trailing figures to Apr 2026
May 2026 and Jun 2026 have been filed since the trailing figures were struck, so they are 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 2026-06-30
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 | 100.0% |
Share of the fund's debt value in each maturity band, shortest first.
| 1-3y | 26.7% |
| 3-5y | 23.4% |
| 5-10y | 35.5% |
| 10y+ | 14.4% |
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
More of this fund’s sensitivity sits in credit spreads than in interest rates — a rate rally that comes with a credit selloff works against it.
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.
| Credit spreads | 50% |
| Interest rates | 50% |
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 | +6.53 yr |
Share of duration at each point, shortest first. A positive figure loses value when spreads widen; a negative one offsets — a credit hedge.
| 1 yr | 0.49 yr | 7% |
| 5 yr | 1.77 yr | 27% |
| 10 yr | 2.10 yr | 32% |
| 30 yr | 2.12 yr | 33% |
3 mo is NEGATIVE (-0.01 yr) — a deliberate hedge at that point on the curve, so it is not part of the band above.
| 3 mo | 0.00 yr | 0% |
| 1 yr | 0.63 yr | 10% |
| 5 yr | 2.08 yr | 32% |
| 10 yr | 2.38 yr | 36% |
| 30 yr | 1.44 yr | 22% |
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 | -0.01 | +0.00 | +0.00 | $5.1k | $0 |
| 1 yr | +0.49 | +0.63 | +0.00 | $1.13m | $0 |
| 5 yr | +1.77 | +2.08 | +0.00 | $3.70m | $0 |
| 10 yr | +2.10 | +2.38 | +0.00 | $4.24m | $0 |
| 30 yr | +2.12 | +1.44 | +0.00 | $2.57m | $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 |
|---|---|---|---|---|
| — | UST NOTES1.88% · due 2035-07-15 | 4.38% | $781.33M | — |
| — | UST NOTES1.13% · due 2033-01-15 | 3.93% | $700.92M | — |
| — | UST NOTES1.75% · due 2034-01-15 | 3.92% | $698.52M | — |
| — | UST NOTES1.88% · due 2036-01-15 | 3.85% | $686.57M | — |
| — | UST NOTES1.88% · due 2034-07-15 | 3.84% | $685.29M | — |
| — | UST NOTES1.13% · due 2030-10-15 | 3.79% | $676.52M | — |
| — | UST NOTES2.13% · due 2035-01-15 | 3.54% | $630.95M | — |
| — | UST NOTES0.63% · due 2032-07-15 | 3.48% | $620.73M | — |
| — | UST NOTES0.13% · due 2031-01-15 | 3.46% | $616.65M | — |
| — | UST NOTES2.38% · due 2028-10-15 | 3.35% | $598.21M | — |
Top 10 positions are 37.54% of net assets, top 25 77.35%, across 3 issuers.
See more of this fund's book
More positions with filed share counts, and the quarter-over-quarter change list rather than the largest few — free with an account, no card required.
Sign in free