¹ Generally, among asset classes, stocks are more volatile than bonds or short-term instruments. In general, the bond market is volatile, bond prices rise when interest rates fall, and vice versa. This effect is usually pronounced for longer-term securities. Any fixed income security sold or redeemed prior to maturity may be subject to a substantial gain or loss. Foreign investments involve greater risk than U.S. investments, as they depend upon currency values, political and regulatory environments, and overall market and economic factors of other countries. Money market investment yields can fall sharply in a relatively short period of time. Short-term yields have been much more volatile than long-term rates over time. Returns may not keep up with inflation, leading to purchasing power erosion for the investor.

² The underlying mutual funds of these investment pools are subject to varying fees and expenses, which may change, and which affect the daily net asset values of the mutual funds within the pools. These funds may pay all or a portion of these fees and expenses (not in addition to that fund's fees and expenses reflected in its NAV) to Fidelity Management & Research Company and its affiliates for services and expenses relating to fund management, administration, distribution or other expenses. Additional information regarding the underlying mutual funds, including fees and expenses, is available in each underlying fund's prospectus.