Fidelity Select Medical Equip/Systems (DXCTX)

Fund Fact Sheet 12-31-09 09-30-09 06-30-2009 03-31-2009 Prospectus Fact Sheet Explanation

Fund Summary The investment seeks daily investment results, before fees and expenses, of the performance of the Standard and Poor's Commodity Trends Indicator ("S&P CTI”"). The fund invests in commodity-linked derivatives and fixed income securities directly and/or indirectly through the Subsidiary. It may invest directly in exchange-traded funds ("ETFs"”) and other investment companies that provide exposure to managed commodities and equity securities. The fund may invest up to 25% of total assets in its Subsidiary. It is nondiversified.

Fund Management Paul Brigandi, Lead Manager since 05-May-06
Brigandi has been a portfolio manager at Rafferty Asset Management since June 2004. He was previously involved in the equity trading training program for Fleet Boston Financial Corporation from August 2002 to April 2004.