Fidelity Series Commodity Strategy Fund
Fidelity Oxford Street Trust · 1 share class
Fund classification
Classified from what the fund holds · as of 2026 Q2
Fidelity Series Commodity Strategy Fund is a U.S. bond index fund that tracks the Bloomberg Commodity 3 Month Forward Total Return Index.
- Asset class
- Bonds
- Region
- United States
- Management
- Index (passive)
- Fund type
- Open-end fund
Fund profile
As filed in the prospectus · 2026 Q2
Fidelity Series Commodity Strategy Fund seeks to provide investment returns that correspond to the performance of the commodities market.
The fund tracks the Bloomberg Commodity 3 Month Forward Total Return Index, which provides exposure to commodity futures contracts positioned three months forward, combined with returns on cash collateral invested at the Secured Overnight Financing Rate. The index construction means the fund's returns depend on the performance of rolling commodity futures positions and the interest earned on collateral.
| Share class | Expense ratio | As of |
|---|---|---|
| FCSSX | 0.00% | 2025 Q3 |
Portfolio turnover 0.00% · as of 2025 Q3
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| Cash & short-term | 89.33% |
| Bonds | 7.00% |
| Derivatives | 4.02% |
Derivatives are shown at market value, not notional exposure.
Latest quarter
What changed since the fund's previous filing
Largest new: UST BILLS ×2, MERRILL LYNCH INTERNATIONAL, ROYAL BANK OF CANADA, JPMORGAN CHASE BANK NA NEW YORK NY, NEW YORK MERCANTILE EXCHANGE ×2, ICE-ICE FUTURES LTD
Largest exited: UST BILLS ×2, NEW YORK MERCANTILE EXCHANGE, MERRILL LYNCH INTERNATIONAL ×3, ROYAL BANK OF CANADA, JPMORGAN CHASE BANK NA NEW YORK NY
Return profile
Total return as filed — price change plus distributions reinvested · trailing figures to Apr 2026
Debt profile
What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-04-30
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.
| <1y | 100.0% |
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 | 56% |
| Interest rates | 44% |
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 | +0.01 yr |
Share of duration at each point, shortest first. This filer signs its rate and credit disclosures differently; the direction shown follows its interest-rate filing, and a negative reading is the least-supported figure here.
| 3 mo | 0.01 yr | 100% |
| 5 yr | 0.00 yr | 0% |
1 yr is NEGATIVE (-0.00 yr) — a deliberate hedge at that point on the curve, so it is not part of the band above.
| 3 mo | 0.01 yr | 80% |
| 5 yr | 0.00 yr | 20% |
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 | +0.01 | +0.00 | $2.4k | $0 |
| 1 yr | -0.00 | +0.00 | +0.00 | $0 | $0 |
| 5 yr | +0.00 | +0.00 | +0.00 | $591 | $0 |
| 10 yr | +0.00 | +0.00 | +0.00 | $0 | $0 |
| 30 yr | +0.00 | +0.00 | +0.00 | $0 | $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 | 89.33% | $2.36B | — |
| — | UST BILLS0.00% · due 2026-06-11 | 5.88% | $155.36M | — |
| — | UST BILLS0.00% · due 2026-07-16 | 1.13% | $29.77M | — |
| — | MERRILL LYNCH INTERNATIONAL | 0.38% | $10.06M | — |
| — | ROYAL BANK OF CANADA | 0.38% | $9.95M | — |
| — | JPMORGAN CHASE BANK NA NEW YORK NY | 0.38% | $9.93M | — |
| — | NEW YORK MERCANTILE EXCHANGE | 0.29% | $7.59M | — |
| — | ICE-ICE FUTURES LTD | 0.21% | $5.62M | — |
| — | MERRILL LYNCH INTERNATIONAL | 0.20% | $5.43M | — |
| — | ICE-ICE FUTURES LTD | 0.20% | $5.25M | — |
Top 10 positions are 98.38% of net assets, top 25 100.37%, across 15 issuers.
See more of this fund's book
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