Fund Description: Fidelity Nasdaq Composite Index Fund is an exchange-traded index fund or Index ETF which is a separate investment portfolio of the Fidelity Commonwealth Trust, an open-end investment management company. INVESTMENT OBJECTIVE: The Fidelity Nasdaq Composite Index Tracking Stock seeks to provide investment returns that closely correspond to the price and yield performance of the Nasdaq Composite Index. INDEX DESCRIPTION: The Nasdaq Composite Index is a market-capitalization weighted index of the more than 3,000 common equities listed on the Nasdaq stock exchange. The types of securities in the Index include American depositary receipts, common stocks, real estate investment trusts (REITs) and tracking stocks. The Index includes all Nasdaq listed stocks that are not derivatives, preferred shares, funds, exchange-traded funds (ETFs) or debentures. The Index is not limited to companies that have U.S. headquarters. FUND STRATEGY: The Fund normally invests at least 80% of assets in common stocks included in the Index. The Fund uses statistical sampling techniques that take into account such factors as capitalization, industry exposures, dividend yield, price/earnings (P/E) ratio, price/book (P/B) ratio, and earnings growth to create a portfolio of securities listed in the Index that have a similar investment profile to the entire the Index. The Fund will use other investment techniques including derivatives, to increase or decrease the Fund's exposure to changing security prices or other factors that affect security values, and lending securities to earn income for the Fund. FUND MANAGEMENT: Fidelity Management & Research Company (FMR) will serve as the adviser to the Fund. Geode Capital Management, LLC and FMR Co., Inc. (FMRC) serve as sub-advisers to the Fund.