FSMTX Fees and Costs — Fidelity SAI Total Bond Fund
Data updated: 2026-07-24
The net expense ratio is 0.29%: a 0.28% management fee plus 0.01% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $390K in broker commissions, 0.0019% of average net assets, and portfolio turnover was 214%.
FSMTX Fees and Expenses
Annual operating expenses and sales charges of FSMTX. Prospectus, as of October 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.28% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.01% |
| Gross expense ratio | 0.29% |
| Fee waiver | — |
| Net expense ratio | 0.29% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
FSMTX Costs Over Time
On $10,000 invested in FSMTX, assuming 5% a year before costs, total costs come to $185 over 5 years, cutting the return by 0.31% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 0.29%) | $30 | $96 | $167 |
| Trading costs (broker commissions) | $0 | $1 | $1 |
| Lost growth on money paid in costs | $0 | $5 | $17 |
| Total costs | $31 | $101 | $185 |
| Value after costs | $10,469 | $11,475 | $12,578 |
| Impact on return, per year | 0.31% | 0.31% | 0.31% |
FSMTX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending August 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0019%
- Total broker commissions: $390K
- Bought from dealers (principal trades, not a cost): $87.5B
- Portfolio turnover (prospectus): 214%
- Securities on loan, average value: $79.2M
- Net income from securities lending: $452K (0.002% of average net assets)
FSMTX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| MORGAN STANLEY | $379K | 97.09% |
| JPMORGAN CHASE and CO | $10K | 2.52% |
| GOLDMAN SACHS GROUP INC (THE) | $1K | 0.28% |
| BANK OF AMERICA CORPORATION | $151 | 0.04% |
| VIRTU FINANCIAL INC | $113 | 0.03% |
| CONDOR TRADING LLC | $56 | 0.01% |
| CITIGROUP INC | $48 | 0.01% |
| UBS GROUP AG | $43 | 0.01% |
| JEFFERIES FINANCIAL GROUP INC | $34 | 0.01% |
| LIQUIDNET HOLDINGS INC | $25 | 0.01% |
FSMTX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| GOLDMAN SACHS GROUP INC (THE) | $18.3B | 21.50% |
| MORGAN STANLEY | $15.1B | 17.75% |
| JPMORGAN CHASE and CO | $11.5B | 13.48% |
| BARCLAYS PLC | $11.5B | 13.47% |
| CITIGROUP INC | $10.1B | 11.86% |
| BANK OF AMERICA CORPORATION | $9.5B | 11.22% |
| WELLS FARGO and CO | $4.1B | 4.87% |
| MIZUHO FINANCIAL GROUP INC | $3.2B | 3.74% |
| BNP PARIBAS | $1.3B | 1.58% |
| CITADEL SECURITIES LP | $439.5M | 0.52% |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.