N-CSRS

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM N-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED

MANAGEMENT INVESTMENT COMPANIES

Investment Company Act file number 811-21990

Fidelity Commonwealth Trust II
(Exact name of registrant as specified in charter)

82 Devonshire St., Boston, Massachusetts 02109
(Address of principal executive offices)       (Zip code)

Marc Bryant, Secretary

82 Devonshire St.

Boston, Massachusetts 02109
(Name and address of agent for service)

Registrant's telephone number, including area code: 617-563-7000

Date of fiscal year end:	February 28
Date of reporting period:	August 31, 2010

Item 1. Reports to Stockholders

Fidelity® Large Cap Growth Enhanced Index Fund
Fidelity Large Cap Value Enhanced Index Fund
Fidelity Large Cap Core Enhanced Index Fund
Fidelity Mid Cap Enhanced Index Fund
Fidelity Small Cap Enhanced Index Fund
Fidelity International Enhanced Index Fund

Semiannual Report

August 31, 2010

(2_fidelity_logos) (Registered_Trademark)

Contents

Chairman's Message	<Click Here>	The Chairman's message to shareholders
Shareholder Expense Example	<Click Here>	An example of shareholder expenses
Fidelity Large Cap Growth Enhanced Index Fund	<Click Here>	Investment Changes
	<Click Here>	Investments
	<Click Here>	Financial Statements
Fidelity Large Cap Value Enhanced Index Fund	<Click Here>	Investment Changes
	<Click Here>	Investments
	<Click Here>	Financial Statements
Fidelity Large Cap Core Enhanced Index Fund	<Click Here>	Investment Changes
	<Click Here>	Investments
	<Click Here>	Financial Statements
Fidelity Mid Cap Enhanced Index Fund	<Click Here>	Investment Changes
	<Click Here>	Investments
	<Click Here>	Financial Statements
Fidelity Small Cap Enhanced Index Fund	<Click Here>	Investment Changes
	<Click Here>	Investments
	<Click Here>	Financial Statements
Fidelity International Enhanced Index Fund	<Click Here>	Investment Changes
	<Click Here>	Investments
	<Click Here>	Financial Statements
Notes	<Click Here>	Notes to the Financial Statements

To view a fund's proxy voting guidelines and proxy voting record for the 12-month period ended June 30, visit http://www.fidelity.com/proxyvotingresults or visit the Securities and Exchange Commission's (SEC) web site at http://www.sec.gov. You may also call 1-800-544-8544 to request a free copy of the proxy voting guidelines.

Geode is a registered trademark of Geode Capital Management, LLC.

Standard & Poor's, S&P and S&P 500 are registered service marks of The McGraw-Hill Companies, Inc. and have been licensed for use by Fidelity Distributors Corporation.

Other third party marks appearing herein are the property of their respective owners.

All other marks appearing herein are registered or unregistered trademarks or service marks of FMR LLC or an affiliated company.

This report and the financial statements contained herein are submitted for the general information of the shareholders of the funds. This report is not authorized for distribution to prospective investors in the funds unless preceded or accompanied by an effective prospectus.

A fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-Q. Forms N-Q are available on the SEC's web site at http://www.sec.gov. A fund's Forms N-Q may be reviewed and copied at the SEC's Public Reference Room in Washington, DC. Information regarding the operation of the SEC's Public Reference Room may be obtained by calling 1-800-SEC-0330. For a complete list of a fund's portfolio holdings, view the most recent holdings listing, semiannual report, or annual report on Fidelity's web site at http://www.fidelity.com or http://www.advisor.fidelity.com, as applicable.

NOT FDIC INSURED • MAY LOSE VALUE • NO BANK GUARANTEE

Neither the funds nor Fidelity Distributors Corporation is a bank.

Semiannual Report

Chairman's Message

(photo_of_Edward_C_Johnson_3d)

Dear Shareholder:

A yearlong uptrend in global equity markets reversed course in late April 2010 when investor sentiment turned bearish due in great measure to concern that Europe's debt crisis would expand and slow or derail economic recovery. However, a bounceback in July helped to recover some of the ground that was lost. Financial markets are always unpredictable, of course, but there also are several time-tested investment principles that can help put the odds in your favor.

One of the basic tenets is to invest for the long term. Over time, riding out the markets' inevitable ups and downs has proven much more effective than selling into panic or chasing the hottest trend. Even missing only a few of the markets' best days can significantly diminish investor returns. Patience also affords the benefits of compounding - of earning interest on additional income or reinvested dividends and capital gains. There can be tax advantages and cost benefits to consider as well. While staying the course doesn't eliminate risk, it can considerably lessen the effect of short-term declines.

You can further manage your investing risk through diversification. And today, more than ever, geographic diversification should be taken into account. Studies indicate that asset allocation is the single most important determinant of a portfolio's long-term success. The right mix of stocks, bonds and cash - aligned to your particular risk tolerance and investment objective - is very important. Age-appropriate rebalancing is also an essential aspect of asset allocation. For younger investors, an emphasis on equities - which historically have been the best-performing asset class over time - is encouraged. As investors near their specific goal, such as retirement or sending a child to college, consideration may be given to replacing volatile assets (e.g. common stocks) with more-stable fixed investments (bonds or savings plans).

A third principle - investing regularly - can help lower the average cost of your purchases. Investing a certain amount of money each month or quarter helps ensure you won't pay for all your shares at market highs. This strategy - known as dollar cost averaging - also reduces "emotion" from investing, helping shareholders avoid selling weak performers just prior to an upswing, or chasing a hot performer just before a correction.

We invite you to contact us via the Internet, through our Investor Centers or by phone. It is our privilege to provide you the information you need to make the investments that are right for you.

Sincerely,

(The chairman's signature appears here.)

Edward C. Johnson 3d

Semiannual Report

Shareholder Expense Example

As a shareholder of a Fund, you incur two types of costs: (1) transaction costs, including redemption fees, and (2) ongoing costs, including management fees and other Fund expenses. This Example is intended to help you understand your ongoing costs (in dollars) of investing in the Funds and to compare these costs with the ongoing costs of investing in other mutual funds.

The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (March 1, 2010 to August 31, 2010).

Actual Expenses

The first line of the accompanying table for each fund provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000.00 (for example, an $8,600 account value divided by $1,000.00 = 8.6), then multiply the result by the number in the first line for a fund under the heading entitled "Expenses Paid During Period" to estimate the expenses you paid on your account during this period. An annual index fund fee of $10 that is charged once a year may apply for certain accounts with a value of less than $10,000. This fee is not included in the table below. If it was, the estimate of expenses you paid during the period would be higher, and your ending account value lower, by this amount. In addition, each Fund, as a shareholder in the underlying Fidelity Central Funds, will indirectly bear its pro-rata share of the fees and expenses incurred by the underlying Fidelity Central Funds. These fees and expenses are not included in the Fund's annualized expense ratio used to calculate the expense estimate in the table below.

Hypothetical Example for Comparison Purposes

The second line of the accompanying table for each fund provides information about hypothetical account values and hypothetical expenses based on a fund's actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Fund's actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds. An annual index fund fee of $10 that is charged once a year may apply for certain accounts with a value of less than $10,000. This fee is not included in the table below. If it was, the estimate of expenses you paid during the period would be higher, and your ending account value lower, by this amount. In addition, each Fund, as a shareholder in the underlying Fidelity Central Funds, will indirectly bear its pro-rata share of the fees and expenses incurred by the underlying Fidelity Central Funds. These fees and expenses are not included in the Fund's annualized expense ratio used to calculate the expense estimate in the table below.

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transaction costs. Therefore, the second line of the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.

	Annualized Expense Ratio	Beginning Account Value March 1, 2010	Ending Account Value August 31, 2010	Expenses Paid During Period* March 1, 2010 to August 31, 2010
Fidelity Large Cap Growth Enhanced Index Fund	.45%
Actual		$ 1,000.00	$ 933.30	$ 2.19
Hypothetical A		$ 1,000.00	$ 1,022.94	$ 2.29
Fidelity Large Cap Value Enhanced Index Fund	.45%
Actual		$ 1,000.00	$ 946.50	$ 2.21
Hypothetical A		$ 1,000.00	$ 1,022.94	$ 2.29
Fidelity Large Cap Core Enhanced Index Fund	.45%
Actual		$ 1,000.00	$ 939.10	$ 2.20
Hypothetical A		$ 1,000.00	$ 1,022.94	$ 2.29
Fidelity Mid Cap Enhanced Index Fund	.60%
Actual		$ 1,000.00	$ 965.00	$ 2.97
Hypothetical A		$ 1,000.00	$ 1,022.18	$ 3.06
Fidelity Small Cap Enhanced Index Fund	.67%
Actual		$ 1,000.00	$ 974.40	$ 3.33
Hypothetical A		$ 1,000.00	$ 1,021.83	$ 3.41
Fidelity International Enhanced Index Fund	.62%
Actual		$ 1,000.00	$ 965.30	$ 3.07
Hypothetical A		$ 1,000.00	$ 1,022.08	$ 3.16

^A 5% return per year before expenses

* Expenses are equal to each Fund's annualized expense ratio, multiplied by the average account value over the period, multiplied by 184/365 (to reflect the one-half year period).

Semiannual Report

Fidelity Large Cap Growth Enhanced Index Fund

Investment Changes (Unaudited)

Top Ten Stocks as of August 31, 2010
	% of fund's net assets	% of fund's net assets 6 months ago
Exxon Mobil Corp.	5.2	1.3
Apple, Inc.	4.6	3.2
International Business Machines Corp.	3.4	3.0
Microsoft Corp.	2.7	4.4
Cisco Systems, Inc.	2.1	2.3
Google, Inc. Class A	2.0	2.1
Hewlett-Packard Co.	2.0	1.8
Oracle Corp.	1.7	1.9
Philip Morris International, Inc.	1.6	1.7
McDonald's Corp.	1.5	1.2
	26.8
Market Sectors as of August 31, 2010
	% of fund's net assets	% of fund's net assets 6 months ago
Information Technology	31.1	32.4
Consumer Discretionary	14.1	11.9
Industrials	13.3	9.4
Energy	10.5	5.0
Health Care	10.0	15.7
Consumer Staples	9.2	14.4
Materials	5.2	4.2
Financials	4.7	4.4
Telecommunication Services	0.7	0.8
Utilities	0.2	0.5

Semiannual Report

Fidelity Large Cap Growth Enhanced Index Fund

Investments August 31, 2010 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 99.0%
	Shares		Value
CONSUMER DISCRETIONARY - 14.1%
Auto Components - 0.6%
Autoliv, Inc.	1,710		$ 92,579
Cooper Tire & Rubber Co.	4,300		69,617
Johnson Controls, Inc.	2,623		69,588
			231,784
Automobiles - 1.0%
Ford Motor Co. (a)	35,304		398,582
Diversified Consumer Services - 0.3%
ITT Educational Services, Inc. (a)(e)	1,589		84,630
Service Corp. International	6,500		49,985
			134,615
Hotels, Restaurants & Leisure - 3.2%
Brinker International, Inc.	5,000		78,750
Darden Restaurants, Inc.	4,500		185,670
McDonald's Corp.	8,400		613,704
Starbucks Corp.	9,200		211,508
The Cheesecake Factory, Inc. (a)(e)	1,800		40,302
Yum! Brands, Inc.	4,000		166,800
			1,296,734
Internet & Catalog Retail - 0.8%
Amazon.com, Inc. (a)	2,160		269,633
Priceline.com, Inc. (a)	150		43,722
			313,355
Leisure Equipment & Products - 0.2%
Polaris Industries, Inc.	1,769		94,341
Media - 2.0%
Cablevision Systems Corp. - NY Group Class A	3,500		87,815
CBS Corp. Class B	5,000		69,100
DIRECTV (a)	6,000		227,520
DISH Network Corp. Class A	4,171		74,869
Gannett Co., Inc.	7,680		92,851
Interpublic Group of Companies, Inc. (a)	11,000		93,830
Omnicom Group, Inc.	3,941		137,974
Time Warner Cable, Inc.	800		41,288
			825,247
Multiline Retail - 1.6%
Dollar Tree, Inc. (a)	2,450		111,059
Kohl's Corp. (a)	400		18,792
Macy's, Inc.	7,000		136,080
Nordstrom, Inc.	2,000		57,840
Target Corp.	6,563		335,763
			659,534
Specialty Retail - 3.4%
Aeropostale, Inc. (a)(e)	3,000		63,900
AutoZone, Inc. (a)(e)	750		157,335
Gap, Inc.	6,500		109,785
Home Depot, Inc.	13,200		367,092
Lowe's Companies, Inc.	5,496		111,569
PetSmart, Inc.	4,600		146,694
	Shares		Value
Rent-A-Center, Inc.	2,124		$ 42,650
Ross Stores, Inc.	2,785		138,220
Staples, Inc.	3,000		53,310
TJX Companies, Inc.	5,600		222,264
			1,412,819
Textiles, Apparel & Luxury Goods - 1.0%
Coach, Inc.	5,050		180,992
NIKE, Inc. Class B	2,200		154,000
VF Corp.	1,100		77,682
			412,674
TOTAL CONSUMER DISCRETIONARY			5,779,685
CONSUMER STAPLES - 9.2%
Beverages - 2.5%
Dr Pepper Snapple Group, Inc. (e)	1,600		58,912
PepsiCo, Inc.	6,000		385,080
The Coca-Cola Co.	10,653		595,716
			1,039,708
Food & Staples Retailing - 2.2%
Costco Wholesale Corp.	2,400		135,720
Sysco Corp.	3,296		90,607
Wal-Mart Stores, Inc.	10,600		531,484
Walgreen Co.	4,900		131,712
			889,523
Food Products - 0.8%
ConAgra Foods, Inc.	2,660		57,429
Del Monte Foods Co.	9,084		118,455
General Mills, Inc.	1,188		42,958
Hershey Co.	2,300		106,881
			325,723
Household Products - 1.0%
Colgate-Palmolive Co.	2,700		199,368
Energizer Holdings, Inc. (a)	1,000		63,050
Kimberly-Clark Corp.	1,575		101,430
Procter & Gamble Co.	1,100		65,637
			429,485
Personal Products - 0.2%
Herbalife Ltd.	1,200		66,696
Tobacco - 2.5%
Altria Group, Inc.	13,200		294,624
Lorillard, Inc.	900		68,409
Philip Morris International, Inc.	12,600		648,144
			1,011,177
TOTAL CONSUMER STAPLES			3,762,312
ENERGY - 10.5%
Energy Equipment & Services - 2.9%
Cameron International Corp. (a)	500		18,390
Complete Production Services, Inc. (a)	2,200		38,808
Core Laboratories NV	1,778		140,338
Common Stocks - continued
	Shares		Value
ENERGY - continued
Energy Equipment & Services - continued
Exterran Holdings, Inc. (a)	1,954		$ 43,242
Halliburton Co.	6,900		194,649
Helmerich & Payne, Inc.	1,700		62,968
National Oilwell Varco, Inc.	2,000		75,180
Noble Corp.	1,700		52,904
Oil States International, Inc. (a)	2,861		117,959
Schlumberger Ltd.	8,500		453,305
			1,197,743
Oil, Gas & Consumable Fuels - 7.6%
Chevron Corp.	800		59,328
Cimarex Energy Co.	1,200		78,504
ConocoPhillips	4,200		220,206
EOG Resources, Inc.	991		86,088
Exxon Mobil Corp.	36,000		2,129,757
Occidental Petroleum Corp.	477		34,859
Peabody Energy Corp.	3,373		144,364
Pioneer Natural Resources Co.	1,300		75,166
SM Energy Co.	1,300		49,387
Southern Union Co.	7,628		171,630
Whiting Petroleum Corp. (a)	700		59,388
			3,108,677
TOTAL ENERGY			4,306,420
FINANCIALS - 4.7%
Capital Markets - 0.9%
American Capital Ltd.	11,526		58,437
Ameriprise Financial, Inc.	1,900		82,802
Charles Schwab Corp.	1,541		19,663
Knight Capital Group, Inc. Class A (a)	7,586		90,122
Morgan Stanley	3,200		79,008
T. Rowe Price Group, Inc.	761		33,317
			363,349
Commercial Banks - 1.0%
PNC Financial Services Group, Inc.	1,858		94,684
Prosperity Bancshares, Inc. (e)	5,986		170,302
Wells Fargo & Co.	4,804		113,134
			378,120
Consumer Finance - 1.1%
American Express Co.	8,600		342,882
Credit Acceptance Corp. (a)	1,900		107,635
			450,517
Insurance - 0.3%
AFLAC, Inc.	2,664		125,874
Real Estate Investment Trusts - 1.2%
PS Business Parks, Inc.	1,400		78,778
Public Storage	2,200		215,644
	Shares		Value
Rayonier, Inc.	3,002		$ 141,995
Simon Property Group, Inc.	600		54,270
			490,687
Real Estate Management & Development - 0.2%
Jones Lang LaSalle, Inc.	1,200		90,612
TOTAL FINANCIALS			1,899,159
HEALTH CARE - 10.0%
Biotechnology - 1.4%
Amgen, Inc. (a)	2,500		127,600
Biogen Idec, Inc. (a)	1,156		62,193
Celgene Corp. (a)	2,414		124,369
Gilead Sciences, Inc. (a)	8,483		270,268
			584,430
Health Care Equipment & Supplies - 2.0%
Baxter International, Inc.	3,726		158,579
Becton, Dickinson & Co.	2,300		156,837
Covidien PLC	2,500		88,350
Hologic, Inc. (a)(e)	7,500		106,425
Intuitive Surgical, Inc. (a)	110		29,153
Medtronic, Inc.	5,200		163,696
Stryker Corp. (e)	451		19,479
Zimmer Holdings, Inc. (a)	1,462		68,963
			791,482
Health Care Providers & Services - 3.0%
Amedisys, Inc. (a)(e)	3,196		73,892
AmerisourceBergen Corp.	6,682		182,285
Cardinal Health, Inc.	5,964		178,681
Express Scripts, Inc. (a)	2,700		115,020
Humana, Inc. (a)	2,684		128,268
Laboratory Corp. of America Holdings (a)(e)	2,100		152,502
McKesson Corp.	1,100		63,855
Medco Health Solutions, Inc. (a)	5,402		234,879
UnitedHealth Group, Inc.	3,500		111,020
			1,240,402
Life Sciences Tools & Services - 0.8%
Life Technologies Corp. (a)	3,280		140,286
Thermo Fisher Scientific, Inc. (a)	781		32,896
Waters Corp. (a)(e)	2,600		157,352
			330,534
Pharmaceuticals - 2.8%
Abbott Laboratories	10,900		537,806
Allergan, Inc.	2,700		165,834
Eli Lilly & Co.	4,969		166,760
Forest Laboratories, Inc. (a)	1,500		40,935
Johnson & Johnson	3,300		188,166
Mylan, Inc. (a)(e)	2,100		36,036
			1,135,537
TOTAL HEALTH CARE			4,082,385
Common Stocks - continued
	Shares		Value
INDUSTRIALS - 13.3%
Aerospace & Defense - 3.7%
Honeywell International, Inc.	6,450		$ 252,131
L-3 Communications Holdings, Inc.	1,500		99,900
Lockheed Martin Corp.	2,514		174,773
Northrop Grumman Corp.	1,600		86,592
Precision Castparts Corp.	205		23,202
Raytheon Co.	2,310		101,455
The Boeing Co.	4,564		278,997
United Technologies Corp.	7,700		502,117
			1,519,167
Air Freight & Logistics - 1.5%
FedEx Corp.	801		62,518
United Parcel Service, Inc. Class B	8,686		554,167
			616,685
Airlines - 0.3%
Delta Air Lines, Inc. (a)	6,500		67,990
JetBlue Airways Corp. (a)	6,883		39,302
			107,292
Construction & Engineering - 0.1%
EMCOR Group, Inc. (a)(e)	1,865		42,410
Electrical Equipment - 1.2%
Cooper Industries PLC Class A	2,100		88,389
Emerson Electric Co.	5,000		233,250
Regal-Beloit Corp.	1,800		99,576
Thomas & Betts Corp. (a)	2,000		73,900
			495,115
Industrial Conglomerates - 2.2%
3M Co.	6,290		494,080
General Electric Co.	20,500		296,840
Tyco International Ltd.	2,400		89,472
			880,392
Machinery - 3.5%
Caterpillar, Inc.	4,500		293,220
Cummins, Inc.	918		68,308
Danaher Corp.	2,952		107,246
Deere & Co.	3,300		208,791
Dover Corp.	1,200		53,712
Gardner Denver, Inc.	1,700		81,158
Illinois Tool Works, Inc.	2,100		86,646
Joy Global, Inc.	2,500		141,850
Navistar International Corp. (a)	884		37,022
Oshkosh Co. (a)	2,500		62,200
PACCAR, Inc. (e)	1,800		73,782
Timken Co.	2,400		78,504
Toro Co. (e)	2,800		139,720
			1,432,159
	Shares		Value
Road & Rail - 0.6%
Ryder System, Inc.	2,062		$ 79,119
Union Pacific Corp.	2,317		169,002
			248,121
Trading Companies & Distributors - 0.2%
United Rentals, Inc. (a)(e)	8,435		94,894
TOTAL INDUSTRIALS			5,436,235
INFORMATION TECHNOLOGY - 31.1%
Communications Equipment - 3.9%
Arris Group, Inc. (a)	8,900		72,713
Cisco Systems, Inc. (a)	43,900		880,195
Harris Corp.	3,000		126,210
Juniper Networks, Inc. (a)	1,746		47,491
QUALCOMM, Inc.	12,700		486,537
			1,613,146
Computers & Peripherals - 8.1%
Apple, Inc. (a)	7,700		1,873,949
Dell, Inc. (a)	11,608		136,626
EMC Corp. (a)	14,200		259,008
Hewlett-Packard Co.	20,800		800,384
NetApp, Inc. (a)	2,180		88,159
SanDisk Corp. (a)(e)	4,420		146,921
			3,305,047
Electronic Equipment & Components - 0.7%
Anixter International, Inc. (a)(e)	950		43,586
Corning, Inc.	7,567		118,651
Dolby Laboratories, Inc. Class A (a)	1,500		83,130
Vishay Intertechnology, Inc. (a)	4,137		31,814
			277,181
Internet Software & Services - 2.3%
Akamai Technologies, Inc. (a)	832		38,330
eBay, Inc. (a)	3,500		81,340
Google, Inc. Class A (a)	1,828		822,637
			942,307
IT Services - 6.3%
Accenture PLC Class A	3,200		117,120
Automatic Data Processing, Inc.	3,900		150,579
Cognizant Technology Solutions Corp. Class A (a)	2,300		132,492
DST Systems, Inc. (e)	1,500		61,110
Fiserv, Inc. (a)	1,400		70,042
International Business Machines Corp.	11,255		1,386,954
MasterCard, Inc. Class A	444		88,072
Teradata Corp. (a)	4,060		132,924
VeriFone Holdings, Inc. (a)(e)	4,500		108,810
Visa, Inc. Class A	5,000		344,900
			2,593,003
Semiconductors & Semiconductor Equipment - 4.7%
Advanced Micro Devices, Inc. (a)(e)	15,608		87,717
Altera Corp.	4,246		104,749
Common Stocks - continued
	Shares		Value
INFORMATION TECHNOLOGY - continued
Semiconductors & Semiconductor Equipment - continued
Analog Devices, Inc.	2,600		$ 72,488
Applied Materials, Inc.	7,400		76,886
Broadcom Corp. Class A	4,400		131,868
Intel Corp.	29,000		513,880
Linear Technology Corp.	2,000		57,300
Marvell Technology Group Ltd. (a)	3,933		62,692
Microchip Technology, Inc.	4,900		135,681
National Semiconductor Corp.	7,762		97,879
RF Micro Devices, Inc. (a)(e)	9,000		43,920
Skyworks Solutions, Inc. (a)(e)	6,750		120,555
Texas Instruments, Inc.	11,873		273,435
Xilinx, Inc.	5,000		120,750
			1,899,800
Software - 5.1%
Adobe Systems, Inc. (a)	1,521		42,223
BMC Software, Inc. (a)	3,250		117,195
CA, Inc.	5,000		90,050
Microsoft Corp.	46,726		1,097,126
Oracle Corp.	31,000		678,280
Symantec Corp. (a)	4,046		55,147
			2,080,021
TOTAL INFORMATION TECHNOLOGY			12,710,505
MATERIALS - 5.2%
Chemicals - 2.8%
Air Products & Chemicals, Inc.	327		24,208
Ashland, Inc.	2,155		100,121
E.I. du Pont de Nemours & Co.	4,000		163,080
International Flavors & Fragrances, Inc.	2,000		91,380
Lubrizol Corp.	2,903		270,879
Monsanto Co.	2,304		121,306
PPG Industries, Inc.	1,848		121,654
Praxair, Inc.	1,600		137,648
Rockwood Holdings, Inc. (a)	1,500		38,775
Valspar Corp.	2,500		75,300
			1,144,351
Containers & Packaging - 0.4%
Ball Corp.	1,500		84,120
Rock-Tenn Co. Class A	1,800		86,724
			170,844
Metals & Mining - 1.3%
Freeport-McMoRan Copper & Gold, Inc.	4,000		287,920
Newmont Mining Corp.	3,300		202,356
Walter Energy, Inc.	687		49,491
			539,767
Paper & Forest Products - 0.7%
Domtar Corp.	1,700		102,034
	Shares		Value
International Paper Co.	6,600		$ 135,036
MeadWestvaco Corp.	2,000		43,520
			280,590
TOTAL MATERIALS			2,135,552
TELECOMMUNICATION SERVICES - 0.7%
Diversified Telecommunication Services - 0.5%
AT&T, Inc.	4,295		116,094
Qwest Communications International, Inc.	17,000		96,050
			212,144
Wireless Telecommunication Services - 0.2%
American Tower Corp. Class A (a)	1,775		83,177
TOTAL TELECOMMUNICATION SERVICES			295,321
UTILITIES - 0.2%
Electric Utilities - 0.2%
IDACORP, Inc.	1,800		63,108
TOTAL COMMON STOCKS (Cost $40,041,945)		40,470,682
Investment Companies - 0.1%
Ares Capital Corp. (Cost $48,386)	3,519		52,574

U.S. Treasury Obligations - 0.3%
	Principal Amount
U.S. Treasury Bills, yield at date of purchase 0.26% to 0.31% 12/16/10 (f) (Cost $109,909)	$ 110,000	109,954

Money Market Funds - 5.0%
	Shares
Dreyfus Cash Management Institutional Shares, 0.10% (c)	159,797		159,797
Fidelity Securities Lending Cash Central Fund, 0.27% (b)(d)	1,862,826		1,862,826
TOTAL MONEY MARKET FUNDS (Cost $2,022,623)		2,022,623
TOTAL INVESTMENT PORTFOLIO - 104.4% (Cost $42,222,863)			42,655,833
NET OTHER ASSETS (LIABILITIES) - (4.4)%			(1,782,670)
NET ASSETS - 100%		$ 40,873,163

Futures Contracts
	Expiration Date	Underlying Face Amount at Value	Unrealized Appreciation/(Depreciation)
Purchased
Equity Index Contracts
5 CME E-mini S&P 500 Index Contracts	Sept. 2010	$ 262,075	$ 665

The face value of futures purchased as a percentage of net assets is 0.6%

Legend

(a) Non-income producing

(b) Affiliated fund that is available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request.

(c) The rate quoted is the annualized seven-day yield of the fund at period end.

(d) Investment made with cash collateral received from securities on loan.

(e) Security or a portion of the security is on loan at period end.

(f) Security or a portion of the security was pledged to cover margin requirements for futures contracts. At the period end, the value of securities pledged amounted to $109,954.

Affiliated Central Funds

Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:

Fund	Income earned
Fidelity Securities Lending Cash Central Fund	$ 11,016

Other Information

The following is a summary of the inputs used, as of August 31, 2010, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the table below, please refer to the Security Valuation section in the accompanying Notes to Financial Statements.

Valuation Inputs at Reporting Date:
Description	Total	Level 1	Level 2	Level 3
Investments in Securities:
Equities:
Consumer Discretionary	$ 5,779,685	$ 5,779,685	$ -	$ -
Consumer Staples	3,762,312	3,762,312	-	-
Energy	4,306,420	4,306,420	-	-
Financials	1,899,159	1,899,159	-	-
Health Care	4,082,385	4,082,385	-	-
Industrials	5,436,235	5,436,235	-	-
Information Technology	12,710,505	12,710,505	-	-
Materials	2,135,552	2,135,552	-	-
Telecommunication Services	295,321	295,321	-	-
Utilities	63,108	63,108	-	-
Investment Companies	52,574	52,574	-	-
U.S. Government and Government Agency Obligations	109,954	-	109,954	-
Money Market Funds	2,022,623	2,022,623	-	-
Total Investments in Securities:	$ 42,655,833	$ 42,545,879	$ 109,954	$ -
Derivative Instruments:
Assets
Futures Contracts	$ 665	$ 665	$ -	$ -

Value of Derivative Instruments

The following table is a summary of the Fund's value of derivative instruments by risk exposure as of August 31, 2010. For additional information on derivative instruments, please refer to the Derivative Instruments section in the accompanying Notes to Financial Statements.

Risk Exposure / Derivative Type	Value
	Asset	Liability
Equity Risk
Futures Contracts (a)	$ 665	$ -
Total Value of Derivatives	$ 665	$ -

(a) Reflects cumulative appreciation/(depreciation) on futures contracts as disclosed on the Schedule of Investments. Only the period end variation margin is separately disclosed on the Statement of Assets and Liabilities.

Income Tax Information

At February 28, 2010, the Fund had a capital loss carryforward of approximately $6,901,971 of which $298,456, $3,305,345 and $3,298,170 will expire on February 29, 2016, February 28, 2017 and 2018, respectively. Capital loss carryforwards are only available to offset future capital gains of the Fund to the extent provided by regulations and may be limited.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

Fidelity Large Cap Growth Enhanced Index

Financial Statements

Statement of Assets and Liabilities

	August 31, 2010 (Unaudited)
Assets
Investment in securities, at value (including securities loaned of $1,795,898) - See accompanying schedule: Unaffiliated issuers (cost $40,360,037)	$ 40,793,007
Fidelity Central Funds (cost $1,862,826)	1,862,826
Total Investments (cost $42,222,863)		$ 42,655,833
Receivable for fund shares sold		21,864
Dividends receivable		101,027
Interest receivable		6
Distributions receivable from Fidelity Central Funds		463
Receivable for daily variation on futures contracts		1,021
Total assets		42,780,214
Liabilities
Payable for fund shares redeemed	28,127
Accrued management fee	10,756
Other affiliated payables	5,342
Collateral on securities loaned, at value	1,862,826
Total liabilities		1,907,051
Net Assets		$ 40,873,163
Net Assets consist of:
Paid in capital		$ 47,751,016
Undistributed net investment income		301,608
Accumulated undistributed net realized gain (loss) on investments		(7,613,096)
Net unrealized appreciation (depreciation) on investments		433,635
Net Assets, for 5,201,825 shares outstanding		$ 40,873,163
Net Asset Value, offering price and redemption price per share ($40,873,163 ÷ 5,201,825 shares)		$ 7.86

Statement of Operations

Six months ended August 31, 2010 (Unaudited)
Investment Income
Dividends		$ 425,480
Interest		412
Income from Fidelity Central Funds (including $11,016 from security lending)		11,016
Total income		436,908
Expenses
Management fee	$ 71,282
Transfer agent fees	35,854
Independent trustees' compensation	425
Miscellaneous	57
Total expenses		107,618
Net investment income (loss)		329,290
Realized and Unrealized Gain (Loss) Net realized gain (loss) on:
Investment securities:
Unaffiliated issuers	(544,723)
Futures contracts	(113,946)
Total net realized gain (loss)		(658,669)
Change in net unrealized appreciation (depreciation) on: Investment securities	(2,832,147)
Futures contracts	(11,276)
Total change in net unrealized appreciation (depreciation)		(2,843,423)
Net gain (loss)		(3,502,092)
Net increase (decrease) in net assets resulting from operations		$ (3,172,802)

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

Statement of Changes in Net Assets

	Six months ended August 31, 2010 (Unaudited)	Year ended February 28, 2010
Increase (Decrease) in Net Assets
Operations
Net investment income (loss)	$ 329,290	$ 547,835
Net realized gain (loss)	(658,669)	(1,843,372)
Change in net unrealized appreciation (depreciation)	(2,843,423)	15,270,964
Net increase (decrease) in net assets resulting from operations	(3,172,802)	13,975,427
Distributions to shareholders from net investment income	(115,570)	(510,338)
Share transactions Proceeds from sales of shares	8,395,855	31,875,934
Reinvestment of distributions	109,524	480,740
Cost of shares redeemed	(14,156,299)	(18,113,385)
Net increase (decrease) in net assets resulting from share transactions	(5,650,920)	14,243,289
Total increase (decrease) in net assets	(8,939,292)	27,708,378
Net Assets
Beginning of period	49,812,455	22,104,077
End of period (including undistributed net investment income of $301,608 and undistributed net investment income of $87,888, respectively)	$ 40,873,163	$ 49,812,455
Other Information Shares
Sold	969,289	4,324,048
Issued in reinvestment of distributions	12,102	59,401
Redeemed	(1,679,588)	(2,428,399)
Net increase (decrease)	(698,197)	1,955,050

Financial Highlights

	Six months ended August 31, 2010	Years ended February 28,
	(Unaudited)	2010	2009	2008 G
Selected Per-Share Data
Net asset value, beginning of period	$ 8.44	$ 5.60	$ 9.25	$ 10.00
Income from Investment Operations
Net investment income (loss) D	.06	.11	.09	.08
Net realized and unrealized gain (loss)	(.62)	2.83	(3.65)	(.78)
Total from investment operations	(.56)	2.94	(3.56)	(.70)
Distributions from net investment income	(.02)	(.10)	(.09)	(.05)
Net asset value, end of period	$ 7.86	$ 8.44	$ 5.60	$ 9.25
Total Return B,C	(6.67)%	52.50%	(38.61)%	(7.05)%
Ratios to Average Net Assets E,H
Expenses before reductions	.45% A	.45%	.45%	.45% A
Expenses net of fee waivers, if any	.45% A	.45%	.45%	.45% A
Expenses net of all reductions	.45% A	.45%	.45%	.45% A
Net investment income (loss)	1.38% A	1.42%	1.14%	.89% A
Supplemental Data
Net assets, end of period (000 omitted)	$ 40,873	$ 49,812	$ 22,104	$ 34,942
Portfolio turnover rate F	75% A	35% I	58% I	36% A

^A Annualized

^B Total returns for periods of less than one year are not annualized.

^C Total returns would have been lower had certain expenses not been reduced during the periods shown.

^D Calculated based on average shares outstanding during the period.

^E Fees and expenses of the underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.

^F Amount does not include the portfolio activity of any underlying Fidelity Central Funds.

^G For the period April 19, 2007 (commencement of operations) to February 29, 2008.

^H Expense ratios reflect operating expenses of the Fund. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the Fund during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the Fund.

^I Reflects adjustments to exclude transactions in money market mutual funds.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

Fidelity Large Cap Value Enhanced Index Fund

Investment Changes (Unaudited)

Top Ten Stocks as of August 31, 2010
	% of fund's net assets	% of fund's net assets 6 months ago
AT&T, Inc.	3.5	3.1
Procter & Gamble Co.	2.9	1.1
JPMorgan Chase & Co.	2.8	3.0
Chevron Corp.	2.8	2.4
Berkshire Hathaway, Inc. Class B	2.6	0.0
General Electric Co.	2.5	3.3
Johnson & Johnson	2.3	0.9
Pfizer, Inc.	2.2	2.7
Wells Fargo & Co.	2.2	2.3
Bank of America Corp.	2.2	2.4
	26.0
Market Sectors as of August 31, 2010
	% of fund's net assets	% of fund's net assets 6 months ago
Financials	26.5	23.3
Health Care	14.1	9.4
Energy	11.3	18.6
Consumer Staples	10.3	4.7
Industrials	8.5	11.0
Consumer Discretionary	7.8	11.6
Utilities	6.4	5.1
Telecommunication Services	5.6	4.8
Information Technology	5.5	5.9
Materials	3.6	4.3

Semiannual Report

Fidelity Large Cap Value Enhanced Index Fund

Investments August 31, 2010 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 99.6%
	Shares		Value
CONSUMER DISCRETIONARY - 7.8%
Automobiles - 0.3%
Ford Motor Co. (a)(e)	13,151		$ 148,475
Diversified Consumer Services - 0.2%
ITT Educational Services, Inc. (a)(e)	1,947		103,697
Hotels, Restaurants & Leisure - 0.7%
Brinker International, Inc.	8,853		139,435
Darden Restaurants, Inc.	4,500		185,670
The Cheesecake Factory, Inc. (a)(e)	4,926		110,293
			435,398
Leisure Equipment & Products - 0.2%
Polaris Industries, Inc.	2,610		139,191
Media - 5.0%
CBS Corp. Class B	13,699		189,320
Comcast Corp. Class A	35,177		602,230
DIRECTV (a)	4,400		166,848
Gannett Co., Inc.	13,734		166,044
News Corp. Class A	28,501		358,258
The Walt Disney Co.	19,855		647,074
Time Warner Cable, Inc.	3,464		178,777
Time Warner, Inc.	18,135		543,687
Viacom, Inc. Class B (non-vtg.)	6,529		205,141
			3,057,379
Multiline Retail - 0.5%
Macy's, Inc.	16,563		321,985
Specialty Retail - 0.5%
Gap, Inc.	7,502		126,709
Rent-A-Center, Inc.	3,355		67,368
Signet Jewelers Ltd. (a)	3,543		93,677
			287,754
Textiles, Apparel & Luxury Goods - 0.4%
Jones Apparel Group, Inc. (e)	7,375		113,428
VF Corp.	2,100		148,302
			261,730
TOTAL CONSUMER DISCRETIONARY			4,755,609
CONSUMER STAPLES - 10.3%
Beverages - 1.2%
Dr Pepper Snapple Group, Inc. (e)	3,000		110,460
PepsiCo, Inc.	5,800		372,244
The Coca-Cola Co.	4,226		236,318
			719,022
Food & Staples Retailing - 1.9%
CVS Caremark Corp.	11,057		298,539
Kroger Co.	10,200		201,246
SUPERVALU, Inc.	8,019		77,945
United Natural Foods, Inc. (a)(e)	2,000		69,480
Wal-Mart Stores, Inc.	10,700		536,498
			1,183,708
	Shares		Value
Food Products - 3.3%
Archer Daniels Midland Co.	4,850		$ 149,283
ConAgra Foods, Inc.	5,200		112,268
Del Monte Foods Co.	19,235		250,824
General Mills, Inc.	5,804		209,873
Hershey Co.	3,700		171,939
Hormel Foods Corp. (e)	3,000		129,450
Kraft Foods, Inc. Class A	14,144		423,613
The J.M. Smucker Co.	3,500		204,680
Tyson Foods, Inc. Class A	21,717		355,724
			2,007,654
Household Products - 3.1%
Energizer Holdings, Inc. (a)	2,311		145,709
Procter & Gamble Co.	29,723		1,773,571
			1,919,280
Tobacco - 0.8%
Altria Group, Inc.	9,600		214,272
Lorillard, Inc.	1,700		129,217
Philip Morris International, Inc.	2,500		128,600
			472,089
TOTAL CONSUMER STAPLES			6,301,753
ENERGY - 11.3%
Energy Equipment & Services - 2.0%
Complete Production Services, Inc. (a)	3,100		54,684
Core Laboratories NV (e)	2,110		166,542
Halliburton Co.	2,572		72,556
Helmerich & Payne, Inc.	3,500		129,640
National Oilwell Varco, Inc.	10,202		383,493
Oil States International, Inc. (a)	5,320		219,344
RPC, Inc. (e)	13,393		218,440
			1,244,699
Oil, Gas & Consumable Fuels - 9.3%
Anadarko Petroleum Corp.	4,202		193,250
Apache Corp.	4,939		443,769
Chesapeake Energy Corp.	4,150		85,822
Chevron Corp.	22,696		1,683,135
Cimarex Energy Co.	2,100		137,382
ConocoPhillips	12,200		639,646
Devon Energy Corp.	4,756		286,692
Exxon Mobil Corp.	3,700		218,892
Frontline Ltd. (NY Shares)	6,500		172,250
Hess Corp.	1,632		82,008
Marathon Oil Corp.	3,034		92,507
Newfield Exploration Co. (a)	3,500		168,035
Occidental Petroleum Corp.	7,418		542,107
Peabody Energy Corp.	4,938		211,346
Pioneer Natural Resources Co.	1,300		75,166
Southern Union Co.	5,464		122,940
Spectra Energy Corp.	13,590		276,421
Common Stocks - continued
	Shares		Value
ENERGY - continued
Oil, Gas & Consumable Fuels - continued
Sunoco, Inc.	5,000		$ 168,400
Valero Energy Corp.	6,500		102,505
			5,702,273
TOTAL ENERGY			6,946,972
FINANCIALS - 26.5%
Capital Markets - 2.9%
Bank of New York Mellon Corp.	9,069		220,105
Goldman Sachs Group, Inc.	5,838		799,456
Knight Capital Group, Inc. Class A (a)(e)	9,000		106,920
Morgan Stanley	8,435		208,260
Raymond James Financial, Inc. (e)	3,849		88,835
State Street Corp.	9,856		345,748
			1,769,324
Commercial Banks - 5.3%
BB&T Corp.	5,500		121,660
CIT Group, Inc. (a)	6,495		238,237
Fifth Third Bancorp	6,800		75,140
M&T Bank Corp.	1,300		111,332
PNC Financial Services Group, Inc.	9,685		493,548
Prosperity Bancshares, Inc. (e)	8,765		249,364
SunTrust Banks, Inc.	2,500		56,225
TCF Financial Corp. (e)	5,500		78,540
U.S. Bancorp, Delaware	23,186		482,269
Wells Fargo & Co.	56,905		1,340,113
			3,246,428
Consumer Finance - 1.4%
American Express Co.	7,602		303,092
Capital One Financial Corp.	8,413		318,516
Credit Acceptance Corp. (a)	2,687		152,219
Discover Financial Services	7,918		114,890
			888,717
Diversified Financial Services - 6.8%
Bank of America Corp.	106,558		1,326,647
Citigroup, Inc. (a)	225,021		837,078
CME Group, Inc.	1,085		269,167
JPMorgan Chase & Co.	47,405		1,723,646
			4,156,538
Insurance - 6.4%
ACE Ltd.	3,200		171,104
AFLAC, Inc.	1,500		70,875
Allstate Corp.	4,033		111,311
American Financial Group, Inc.	11,408		328,208
Aspen Insurance Holdings Ltd.	2,969		84,320
Berkshire Hathaway, Inc. Class B (a)	19,800		1,559,844
Endurance Specialty Holdings Ltd.	4,898		180,442
MetLife, Inc.	2,954		111,070
	Shares		Value
PartnerRe Ltd.	2,700		$ 201,015
Protective Life Corp.	2,320		43,338
Prudential Financial, Inc.	4,200		212,394
RenaissanceRe Holdings Ltd. (e)	1,861		105,686
The Chubb Corp.	3,500		192,920
The Travelers Companies, Inc.	3,782		185,242
Torchmark Corp.	1,629		80,391
Unitrin, Inc.	4,020		95,676
Unum Group	6,459		129,503
Validus Holdings Ltd.	2,786		70,959
			3,934,298
Real Estate Investment Trusts - 3.1%
Annaly Capital Management, Inc.	15,462		268,730
Boston Properties, Inc. (e)	1,500		122,100
Chimera Investment Corp.	44,000		172,920
Equity Residential (SBI)	2,500		114,575
Hospitality Properties Trust (SBI)	8,665		169,401
MFA Financial, Inc.	8,000		58,960
Nationwide Health Properties, Inc.	3,800		146,186
PS Business Parks, Inc.	1,900		106,913
Public Storage	1,381		135,366
Rayonier, Inc.	5,100		241,230
Simon Property Group, Inc.	1,095		99,043
Ventas, Inc.	2,500		126,275
Vornado Realty Trust	1,400		113,484
			1,875,183
Thrifts & Mortgage Finance - 0.6%
New York Community Bancorp, Inc. (e)	17,055		271,004
NewAlliance Bancshares, Inc. (e)	5,500		67,320
			338,324
TOTAL FINANCIALS			16,208,812
HEALTH CARE - 14.1%
Biotechnology - 1.3%
Amgen, Inc. (a)	9,500		484,880
Biogen Idec, Inc. (a)	5,881		316,398
			801,278
Health Care Equipment & Supplies - 0.5%
CareFusion Corp. (a)	9,538		205,830
Zimmer Holdings, Inc. (a)	1,800		84,906
			290,736
Health Care Providers & Services - 3.2%
Aetna, Inc.	7,311		195,350
Cardinal Health, Inc.	12,002		359,580
Health Management Associates, Inc. Class A (a)(e)	9,171		57,319
Humana, Inc. (a)	5,074		242,486
Lincare Holdings, Inc.	5,718		131,628
McKesson Corp.	1,600		92,880
Common Stocks - continued
	Shares		Value
HEALTH CARE - continued
Health Care Providers & Services - continued
UnitedHealth Group, Inc.	17,874		$ 566,963
WellPoint, Inc. (a)	5,952		295,695
			1,941,901
Life Sciences Tools & Services - 0.3%
Life Technologies Corp. (a)	2,042		87,336
Thermo Fisher Scientific, Inc. (a)	3,200		134,784
			222,120
Pharmaceuticals - 8.8%
Bristol-Myers Squibb Co. (e)	15,946		415,872
Eli Lilly & Co.	11,365		381,409
Endo Pharmaceuticals Holdings, Inc. (a)	7,700		209,209
Forest Laboratories, Inc. (a)(e)	6,686		182,461
Johnson & Johnson	25,060		1,428,921
King Pharmaceuticals, Inc. (a)(e)	14,000		121,940
Medicis Pharmaceutical Corp. Class A	5,500		151,250
Merck & Co., Inc.	31,857		1,120,092
Pfizer, Inc.	85,264		1,358,256
			5,369,410
TOTAL HEALTH CARE			8,625,445
INDUSTRIALS - 8.5%
Aerospace & Defense - 1.4%
General Dynamics Corp.	3,675		205,322
ITT Corp.	1,500		63,750
L-3 Communications Holdings, Inc.	1,530		101,898
Northrop Grumman Corp.	2,988		161,711
Raytheon Co.	5,187		227,813
The Boeing Co.	1,684		102,943
			863,437
Air Freight & Logistics - 0.6%
Atlas Air Worldwide Holdings, Inc. (a)(e)	3,200		138,688
United Parcel Service, Inc. Class B	3,127		199,503
			338,191
Airlines - 0.1%
JetBlue Airways Corp. (a)	11,815		67,464
Commercial Services & Supplies - 0.2%
Waste Management, Inc.	3,200		105,888
Construction & Engineering - 0.5%
EMCOR Group, Inc. (a)(e)	6,480		147,355
URS Corp. (a)	5,100		181,917
			329,272
Electrical Equipment - 0.9%
EnerSys (a)(e)	2,800		61,796
General Cable Corp. (a)(e)	6,500		144,625
	Shares		Value
Regal-Beloit Corp.	5,385		$ 297,898
Thomas & Betts Corp. (a)	1,946		71,905
			576,224
Industrial Conglomerates - 2.6%
General Electric Co.	104,016		1,506,152
Tyco International Ltd.	2,500		93,200
			1,599,352
Machinery - 0.9%
Deere & Co.	3,956		250,296
Illinois Tool Works, Inc.	1,515		62,509
Ingersoll-Rand Co. Ltd.	3,600		117,108
Parker Hannifin Corp.	2,000		118,320
			548,233
Road & Rail - 1.3%
CSX Corp.	3,924		195,768
Norfolk Southern Corp.	3,764		202,052
Union Pacific Corp.	5,100		371,994
			769,814
TOTAL INDUSTRIALS			5,197,875
INFORMATION TECHNOLOGY - 5.5%
Communications Equipment - 0.4%
Arris Group, Inc. (a)	5,900		48,203
Harris Corp.	1,768		74,380
Motorola, Inc. (a)	15,548		117,076
			239,659
Computers & Peripherals - 0.7%
EMC Corp. (a)	10,222		186,449
Hewlett-Packard Co.	6,931		266,705
			453,154
Electronic Equipment & Components - 0.4%
Corning, Inc.	10,000		156,800
Vishay Intertechnology, Inc. (a)	13,587		104,484
			261,284
Internet Software & Services - 0.3%
eBay, Inc. (a)	7,100		165,004
IT Services - 0.5%
Computer Sciences Corp.	2,629		104,660
International Business Machines Corp.	1,041		128,282
SAIC, Inc. (a)	5,500		81,840
			314,782
Office Electronics - 0.1%
Xerox Corp.	5,273		44,504
Semiconductors & Semiconductor Equipment - 2.0%
Advanced Micro Devices, Inc. (a)(e)	24,605		138,280
Applied Materials, Inc.	6,673		69,332
Fairchild Semiconductor International, Inc. (a)	7,607		58,802
Intel Corp.	27,945		495,185
Micron Technology, Inc. (a)(e)	16,000		103,440
Common Stocks - continued
	Shares		Value
INFORMATION TECHNOLOGY - continued
Semiconductors & Semiconductor Equipment - continued
National Semiconductor Corp.	9,500		$ 119,795
RF Micro Devices, Inc. (a)(e)	12,000		58,560
Texas Instruments, Inc.	6,967		160,450
			1,203,844
Software - 1.1%
Microsoft Corp.	29,000		680,920
TOTAL INFORMATION TECHNOLOGY			3,363,151
MATERIALS - 3.6%
Chemicals - 2.2%
Ashland, Inc.	4,410		204,889
Dow Chemical Co.	6,990		170,346
E.I. du Pont de Nemours & Co.	7,146		291,342
Lubrizol Corp.	3,701		345,340
PPG Industries, Inc.	3,995		262,991
Rockwood Holdings, Inc. (a)	3,300		85,305
			1,360,213
Containers & Packaging - 0.3%
Graphic Packaging Holding Co. (a)	29,460		89,853
Rock-Tenn Co. Class A	2,100		101,178
			191,031
Metals & Mining - 0.4%
Freeport-McMoRan Copper & Gold, Inc.	2,814		202,552
Paper & Forest Products - 0.7%
Domtar Corp.	3,028		181,741
International Paper Co.	11,959		244,681
			426,422
TOTAL MATERIALS			2,180,218
TELECOMMUNICATION SERVICES - 5.6%
Diversified Telecommunication Services - 5.4%
AT&T, Inc.	79,196		2,140,668
CenturyTel, Inc.	3,500		126,560
Frontier Communications Corp.	7,169		55,416
Qwest Communications International, Inc.	18,000		101,700
Verizon Communications, Inc.	29,868		881,405
			3,305,749
Wireless Telecommunication Services - 0.2%
Sprint Nextel Corp. (a)	35,485		144,779
TOTAL TELECOMMUNICATION SERVICES			3,450,528
	Shares		Value
UTILITIES - 6.4%
Electric Utilities - 3.5%
American Electric Power Co., Inc.	5,770		$ 204,316
DPL, Inc.	7,633		193,268
Duke Energy Corp.	15,180		260,944
Edison International	3,800		128,250
Entergy Corp.	857		67,566
Exelon Corp.	7,864		320,222
FirstEnergy Corp. (e)	2,100		76,713
IDACORP, Inc.	6,100		213,866
NextEra Energy, Inc.	2,957		158,880
Progress Energy, Inc.	2,943		126,284
Southern Co.	9,784		358,975
			2,109,284
Gas Utilities - 0.3%
Energen Corp.	4,030		172,000
Independent Power Producers & Energy Traders - 0.3%
Constellation Energy Group, Inc.	4,115		120,693
Mirant Corp. (a)	7,431		72,081
			192,774
Multi-Utilities - 2.3%
Ameren Corp.	1,600		44,912
Consolidated Edison, Inc.	1,782		84,698
Dominion Resources, Inc.	10,907		466,383
DTE Energy Co.	3,305		154,839
PG&E Corp.	4,277		199,993
Public Service Enterprise Group, Inc.	9,800		313,208
Sempra Energy	765		38,954
Xcel Energy, Inc.	5,400		120,474
			1,423,461
TOTAL UTILITIES			3,897,519
TOTAL COMMON STOCKS (Cost $61,555,552)		60,927,882

U.S. Treasury Obligations - 0.3%
	Principal Amount
U.S. Treasury Bills, yield at date of purchase 0.34% to 0.41% 11/18/10 to 12/16/10 (f) (Cost $199,830)	$ 200,000	199,938

Money Market Funds - 6.6%
	Shares		Value
Dreyfus Cash Management Institutional Shares, 0.10% (c)	239,598		$ 239,598
Fidelity Securities Lending Cash Central Fund, 0.27% (b)(d)	3,794,203		3,794,203
TOTAL MONEY MARKET FUNDS (Cost $4,033,801)		4,033,801
TOTAL INVESTMENT PORTFOLIO - 106.5% (Cost $65,789,183)			65,161,621
NET OTHER ASSETS (LIABILITIES) - (6.5)%			(3,998,430)
NET ASSETS - 100%		$ 61,163,191

Futures Contracts
	Expiration Date	Underlying Face Amount at Value	Unrealized Appreciation/(Depreciation)
Purchased
Equity Index Contracts
8 CME E-mini S&P 500 Index Contracts	Sept. 2010	$ 419,320	$ (12,721)

The face value of futures purchased as a percentage of net assets is 0.7%

Legend

(a) Non-income producing

(b) Affiliated fund that is available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request.

(c) The rate quoted is the annualized seven-day yield of the fund at period end.

(d) Investment made with cash collateral received from securities on loan.

(e) Security or a portion of the security is on loan at period end.

(f) Security or a portion of the security was pledged to cover margin requirements for futures contracts. At the period end, the value of securities pledged amounted to $199,938.

Affiliated Central Funds

Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:

Fund	Income earned
Fidelity Securities Lending Cash Central Fund	$ 8,935

Other Information

The following is a summary of the inputs used, as of August 31, 2010, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the table below, please refer to the Security Valuation section in the accompanying Notes to Financial Statements.

Valuation Inputs at Reporting Date:
Description	Total	Level 1	Level 2	Level 3
Investments in Securities:
Equities:
Consumer Discretionary	$ 4,755,609	$ 4,755,609	$ -	$ -
Consumer Staples	6,301,753	6,301,753	-	-
Energy	6,946,972	6,946,972	-	-
Financials	16,208,812	16,208,812	-	-
Health Care	8,625,445	8,625,445	-	-
Industrials	5,197,875	5,197,875	-	-
Information Technology	3,363,151	3,363,151	-	-
Materials	2,180,218	2,180,218	-	-
Telecommunication Services	3,450,528	3,450,528	-	-
Utilities	3,897,519	3,897,519	-	-
U.S. Government and Government Agency Obligations	199,938	-	199,938	-
Money Market Funds	4,033,801	4,033,801	-	-
Total Investments in Securities:	$ 65,161,621	$ 64,961,683	$ 199,938	$ -
Derivative Instruments:
Liabilities
Futures Contracts	$ (12,721)	$ (12,721)	$ -	$ -

Value of Derivative Instruments

The following table is a summary of the Fund's value of derivative instruments by risk exposure as of August 31, 2010. For additional information on derivative instruments, please refer to the Derivative Instruments section in the accompanying Notes to Financial Statements.

Risk Exposure / Derivative Type	Value
	Asset	Liability
Equity Risk
Futures Contracts (a)	$ -	$ (12,721)
Total Value of Derivatives	$ -	$ (12,721)

(a) Reflects cumulative appreciation/(depreciation) on futures contracts as disclosed on the Schedule of Investments. Only the period end variation margin is separately disclosed on the Statement of Assets and Liabilities.

Income Tax Information

At February 28, 2010, the Fund had a capital loss carryforward of approximately $1,786,223 all of which will expire on February 28, 2017. Capital loss carryforwards are only available to offset future capital gains of the Fund to the extent provided by regulations and may be limited.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

Fidelity Large Cap Value Enhanced Index Fund

Financial Statements

Statement of Assets and Liabilities

	August 31, 2010 (Unaudited)
Assets
Investment in securities, at value (including securities loaned of $3,682,365) - See accompanying schedule: Unaffiliated issuers (cost $61,994,980)	$ 61,367,418
Fidelity Central Funds (cost $3,794,203)	3,794,203
Total Investments (cost $65,789,183)		$ 65,161,621
Receivable for fund shares sold		34,565
Dividends receivable		148,624
Interest receivable		85
Distributions receivable from Fidelity Central Funds		740
Receivable for daily variation on futures contracts		1,591
Total assets		65,347,226
Liabilities
Payable for fund shares redeemed	$ 365,898
Accrued management fee	15,980
Other affiliated payables	7,954
Collateral on securities loaned, at value	3,794,203
Total liabilities		4,184,035
Net Assets		$ 61,163,191
Net Assets consist of:
Paid in capital		$ 63,933,635
Undistributed net investment income		541,913
Accumulated undistributed net realized gain (loss) on investments		(2,672,074)
Net unrealized appreciation (depreciation) on investments		(640,283)
Net Assets, for 9,678,823 shares outstanding		$ 61,163,191
Net Asset Value, offering price and redemption price per share ($61,163,191 ÷ 9,678,823 shares)		$ 6.32

Statement of Operations

Six months ended August 31, 2010 (Unaudited)
Investment Income
Dividends		$ 730,422
Interest		886
Income from Fidelity Central Funds (including $8,935 from security lending)		8,935
Total income		740,243
Expenses
Management fee	$ 100,847
Transfer agent fees	50,724
Independent trustees' compensation	602
Miscellaneous	80
Total expenses before reductions	152,253
Expense reductions	(6)	152,247
Net investment income (loss)		587,996
Realized and Unrealized Gain (Loss) Net realized gain (loss) on:
Investment securities:
Unaffiliated issuers	(527,764)
Futures contracts	(121,673)
Total net realized gain (loss)		(649,437)
Change in net unrealized appreciation (depreciation) on: Investment securities	(3,433,743)
Futures contracts	(24,834)
Total change in net unrealized appreciation (depreciation)		(3,458,577)
Net gain (loss)		(4,108,014)
Net increase (decrease) in net assets resulting from operations		$ (3,520,018)

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

Fidelity Large Cap Value Enhanced Index Fund
Financial Statements - continued

Statement of Changes in Net Assets

	Six months ended August 31, 2010 (Unaudited)	Year ended February 28, 2010
Increase (Decrease) in Net Assets
Operations
Net investment income (loss)	$ 587,996	$ 1,326,082
Net realized gain (loss)	(649,437)	3,447,132
Change in net unrealized appreciation (depreciation)	(3,458,577)	17,362,934
Net increase (decrease) in net assets resulting from operations	(3,520,018)	22,136,148
Distributions to shareholders from net investment income	(249,620)	(1,285,327)
Share transactions Proceeds from sales of shares	8,348,332	60,558,743
Reinvestment of distributions	244,299	1,254,502
Cost of shares redeemed	(12,684,130)	(33,801,530)
Net increase (decrease) in net assets resulting from share transactions	(4,091,499)	28,011,715
Total increase (decrease) in net assets	(7,861,137)	48,862,536
Net Assets
Beginning of period	69,024,328	20,161,792
End of period (including undistributed net investment income of $541,913 and undistributed net investment income of $203,537, respectively)	$ 61,163,191	$ 69,024,328
Other Information Shares
Sold	1,209,505	11,338,883
Issued in reinvestment of distributions	33,558	197,134
Redeemed	(1,871,373)	(5,617,182)
Net increase (decrease)	(628,310)	5,918,835

Financial Highlights

	Six months ended August 31, 2010	Years ended February 28,
	(Unaudited)	2010	2009	2008 G
Selected Per-Share Data
Net asset value, beginning of period	$ 6.70	$ 4.59	$ 8.68	$ 10.00
Income from Investment Operations
Net investment income (loss) D	.06	.13	.20	.18
Net realized and unrealized gain (loss)	(.41)	2.11	(4.14)	(1.37)
Total from investment operations	(.35)	2.24	(3.94)	(1.19)
Distributions from net investment income	(.03)	(.13)	(.15)	(.13)
Net asset value, end of period	$ 6.32	$ 6.70	$ 4.59	$ 8.68
Total Return B,C	(5.35)%	48.83%	(45.82)%	(12.00)%
Ratios to Average Net Assets E,H
Expenses before reductions	.45% A	.45%	.45%	.45% A
Expenses net of fee waivers, if any	.45% A	.45%	.45%	.45% A
Expenses net of all reductions	.45% A	.45%	.45%	.45% A
Net investment income (loss)	1.74% A	2.11%	2.81%	2.12% A
Supplemental Data
Net assets, end of period (000 omitted)	$ 61,163	$ 69,024	$ 20,162	$ 24,379
Portfolio turnover rate F	82% A	89% I	72% I	65% A

^A Annualized

^B Total returns for periods of less than one year are not annualized.

^C Total returns would have been lower had certain expenses not been reduced during the periods shown.

^D Calculated based on average shares outstanding during the period.

^E Fees and expenses of the underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.

^F Amount does not include the portfolio activity of any underlying Fidelity Central Funds.

^G For the period April 19, 2007 (commencement of operations) to February 29, 2008.

^H Expense ratios reflect operating expenses of the Fund. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the Fund during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the Fund.

^I Reflects adjustments to exclude transactions in money market mutual funds.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

Fidelity Large Cap Core Enhanced Index Fund

Investment Changes (Unaudited)

Top Ten Stocks as of August 31, 2010
	% of fund's net assets	% of fund's net assets 6 months ago
Exxon Mobil Corp.	3.2	3.2
Apple, Inc.	2.6	1.9
Microsoft Corp.	2.4	2.7
AT&T, Inc.	2.3	1.9
General Electric Co.	2.1	2.0
International Business Machines Corp.	2.0	2.1
Procter & Gamble Co.	2.0	2.0
Johnson & Johnson	1.9	1.9
Chevron Corp.	1.7	1.4
JPMorgan Chase & Co.	1.6	1.8
	21.8
Market Sectors as of August 31, 2010
	% of fund's net assets	% of fund's net assets 6 months ago
Information Technology	18.4	18.9
Financials	14.7	15.0
Energy	12.1	11.7
Health Care	11.6	12.2
Consumer Staples	11.2	10.5
Consumer Discretionary	10.8	10.4
Industrials	10.2	10.3
Materials	3.8	3.5
Telecommunication Services	3.5	2.9
Utilities	2.7	1.8

Semiannual Report

Fidelity Large Cap Core Enhanced Index Fund

Investments August 31, 2010 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 99.0%
	Shares		Value
CONSUMER DISCRETIONARY - 10.8%
Auto Components - 0.3%
Autoliv, Inc.	31,776		$ 1,720,353
Johnson Controls, Inc.	32,000		848,960
			2,569,313
Automobiles - 0.6%
Ford Motor Co. (a)(e)	483,144		5,454,696
Diversified Consumer Services - 0.2%
ITT Educational Services, Inc. (a)(e)	27,686		1,474,556
Hotels, Restaurants & Leisure - 2.1%
Brinker International, Inc.	149,653		2,357,035
Darden Restaurants, Inc.	79,000		3,259,540
McDonald's Corp.	100,000		7,306,000
Starbucks Corp.	70,000		1,609,300
The Cheesecake Factory, Inc. (a)(e)	76,036		1,702,446
Yum! Brands, Inc.	42,000		1,751,400
			17,985,721
Internet & Catalog Retail - 0.3%
Amazon.com, Inc. (a)	19,959		2,491,482
Leisure Equipment & Products - 0.2%
Polaris Industries, Inc.	37,107		1,978,916
Media - 3.3%
CBS Corp. Class B	90,000		1,243,800
Comcast Corp. Class A	339,897		5,819,037
DIRECTV (a)	52,000		1,971,840
Gannett Co., Inc.	164,004		1,982,808
News Corp. Class A	230,000		2,891,100
The Walt Disney Co.	194,967		6,353,975
Time Warner Cable, Inc.	46,506		2,400,175
Time Warner, Inc.	137,808		4,131,484
Viacom, Inc. Class B (non-vtg.)	58,000		1,822,360
			28,616,579
Multiline Retail - 0.9%
Macy's, Inc.	194,408		3,779,292
Target Corp.	85,596		4,379,091
			8,158,383
Specialty Retail - 1.9%
Gap, Inc.	134,382		2,269,712
Home Depot, Inc.	123,471		3,433,729
Lowe's Companies, Inc.	68,106		1,382,552
Rent-A-Center, Inc.	44,316		889,865
Ross Stores, Inc.	49,554		2,459,365
Signet Jewelers Ltd. (a)	60,000		1,586,400
TJX Companies, Inc.	105,000		4,167,450
			16,189,073
Textiles, Apparel & Luxury Goods - 1.0%
Coach, Inc.	61,000		2,186,240
Jones Apparel Group, Inc. (e)	121,518		1,868,947
	Shares		Value
NIKE, Inc. Class B	37,060		$ 2,594,200
VF Corp.	25,655		1,811,756
			8,461,143
TOTAL CONSUMER DISCRETIONARY			93,379,862
CONSUMER STAPLES - 11.2%
Beverages - 2.6%
Coca-Cola Enterprises, Inc.	66,000		1,878,360
Dr Pepper Snapple Group, Inc. (e)	23,000		846,860
PepsiCo, Inc.	126,849		8,141,169
The Coca-Cola Co.	209,240		11,700,701
			22,567,090
Food & Staples Retailing - 1.9%
Costco Wholesale Corp.	16,568		936,920
CVS Caremark Corp.	85,940		2,320,380
Wal-Mart Stores, Inc.	222,155		11,138,852
Walgreen Co.	79,120		2,126,746
			16,522,898
Food Products - 2.0%
ConAgra Foods, Inc.	40,000		863,600
Del Monte Foods Co.	223,965		2,920,504
General Mills, Inc.	21,910		792,266
H.J. Heinz Co. (e)	30,000		1,387,200
Hershey Co.	61,005		2,834,902
Kraft Foods, Inc. Class A	117,628		3,522,959
The J.M. Smucker Co.	60,000		3,508,800
Tyson Foods, Inc. Class A	110,000		1,801,800
			17,632,031
Household Products - 2.9%
Colgate-Palmolive Co.	46,087		3,403,064
Energizer Holdings, Inc. (a)	21,000		1,324,050
Kimberly-Clark Corp.	42,151		2,714,524
Procter & Gamble Co.	289,482		17,273,391
			24,715,029
Tobacco - 1.8%
Altria Group, Inc.	109,981		2,454,776
Lorillard, Inc.	32,000		2,432,320
Philip Morris International, Inc.	199,656		10,270,305
			15,157,401
TOTAL CONSUMER STAPLES			96,594,449
ENERGY - 12.1%
Energy Equipment & Services - 2.9%
Cameron International Corp. (a)	65,450		2,407,251
Complete Production Services, Inc. (a)	50,000		882,000
Core Laboratories NV (e)	28,596		2,257,082
FMC Technologies, Inc. (a)(e)	39,196		2,424,273
Halliburton Co.	70,245		1,981,611
Helmerich & Payne, Inc.	43,000		1,592,720
National Oilwell Varco, Inc.	131,614		4,947,370
Common Stocks - continued
	Shares		Value
ENERGY - continued
Energy Equipment & Services - continued
Oil States International, Inc. (a)	67,032		$ 2,763,729
Schlumberger Ltd.	113,493		6,052,582
			25,308,618
Oil, Gas & Consumable Fuels - 9.2%
Anadarko Petroleum Corp.	18,089		831,913
Apache Corp.	37,648		3,382,673
Chevron Corp.	200,104		14,839,713
Cimarex Energy Co.	28,229		1,846,741
ConocoPhillips	163,235		8,558,411
Devon Energy Corp.	38,277		2,307,338
EOG Resources, Inc.	4,510		391,784
Exxon Mobil Corp.	466,579		27,602,812
Marathon Oil Corp.	23,000		701,270
Occidental Petroleum Corp.	97,009		7,089,418
Peabody Energy Corp.	96,924		4,148,347
Spectra Energy Corp.	147,116		2,992,339
Whiting Petroleum Corp. (a)	15,000		1,272,600
World Fuel Services Corp. (e)	128,185		3,273,845
			79,239,204
TOTAL ENERGY			104,547,822
FINANCIALS - 14.7%
Capital Markets - 1.7%
Ameriprise Financial, Inc.	25,000		1,089,500
Bank of New York Mellon Corp.	50,125		1,216,534
Goldman Sachs Group, Inc.	38,359		5,252,881
Knight Capital Group, Inc. Class A (a)(e)	86,698		1,029,972
Morgan Stanley	72,833		1,798,247
Raymond James Financial, Inc. (e)	37,514		865,823
State Street Corp.	102,107		3,581,914
			14,834,871
Commercial Banks - 3.6%
BB&T Corp.	35,000		774,200
CIT Group, Inc. (a)	25,000		917,000
Fifth Third Bancorp	70,000		773,500
International Bancshares Corp.	133,141		2,077,000
PNC Financial Services Group, Inc.	99,611		5,076,177
Prosperity Bancshares, Inc. (e)	115,727		3,292,433
Signature Bank, New York (a)(e)	25,000		913,500
U.S. Bancorp, Delaware	170,352		3,543,322
Wells Fargo & Co.	581,891		13,703,533
			31,070,665
Consumer Finance - 0.8%
American Express Co.	112,043		4,467,154
Capital One Financial Corp.	69,276		2,622,789
			7,089,943
Diversified Financial Services - 3.9%
Bank of America Corp.	826,014		10,283,874
	Shares		Value
Citigroup, Inc. (a)	1,850,000		$ 6,882,000
CME Group, Inc.	6,000		1,488,480
IntercontinentalExchange, Inc. (a)	6,500		621,140
JPMorgan Chase & Co.	388,661		14,131,714
			33,407,208
Insurance - 3.0%
AFLAC, Inc.	28,177		1,331,363
Berkshire Hathaway, Inc. Class B (a)(e)	155,500		12,250,290
Endurance Specialty Holdings Ltd.	62,296		2,294,985
MetLife, Inc.	42,176		1,585,818
PartnerRe Ltd.	19,011		1,415,369
Protective Life Corp.	40,000		747,200
Prudential Financial, Inc.	27,252		1,378,134
RenaissanceRe Holdings Ltd. (e)	18,000		1,022,220
The Chubb Corp.	22,000		1,212,640
The Travelers Companies, Inc.	44,199		2,164,867
			25,402,886
Real Estate Investment Trusts - 1.4%
Annaly Capital Management, Inc.	90,000		1,564,200
PS Business Parks, Inc.	27,257		1,533,751
Public Storage	32,000		3,136,640
Rayonier, Inc.	64,000		3,027,200
Simon Property Group, Inc.	17,000		1,537,650
Vornado Realty Trust	14,000		1,134,840
			11,934,281
Thrifts & Mortgage Finance - 0.3%
New York Community Bancorp, Inc. (e)	182,146		2,894,300
TOTAL FINANCIALS			126,634,154
HEALTH CARE - 11.6%
Biotechnology - 1.4%
Amgen, Inc. (a)	105,968		5,408,607
Biogen Idec, Inc. (a)	65,160		3,505,608
Celgene Corp. (a)	17,264		889,441
Gilead Sciences, Inc. (a)	84,721		2,699,211
			12,502,867
Health Care Equipment & Supplies - 0.7%
Baxter International, Inc.	25,699		1,093,749
CareFusion Corp. (a)(e)	142,839		3,082,466
Medtronic, Inc.	64,183		2,020,481
			6,196,696
Health Care Providers & Services - 2.6%
Aetna, Inc.	42,000		1,122,240
Cardinal Health, Inc.	171,110		5,126,456
Express Scripts, Inc. (a)	8,080		344,208
Humana, Inc. (a)	75,363		3,601,598
McKesson Corp.	24,000		1,393,200
Medco Health Solutions, Inc. (a)	20,142		875,774
UnitedHealth Group, Inc.	159,220		5,050,458
WellPoint, Inc. (a)	91,924		4,566,784
			22,080,718
Common Stocks - continued
	Shares		Value
HEALTH CARE - continued
Life Sciences Tools & Services - 0.3%
Thermo Fisher Scientific, Inc. (a)	54,678		$ 2,303,037
Pharmaceuticals - 6.6%
Abbott Laboratories	145,903		7,198,854
Allergan, Inc.	27,000		1,658,340
Bristol-Myers Squibb Co. (e)	108,622		2,832,862
Eli Lilly & Co.	126,578		4,247,958
Endo Pharmaceuticals Holdings, Inc. (a)	90,000		2,445,300
Forest Laboratories, Inc. (a)(e)	74,162		2,023,881
Johnson & Johnson	281,265		16,037,730
Medicis Pharmaceutical Corp. Class A	40,000		1,100,000
Merck & Co., Inc.	259,713		9,131,509
Pfizer, Inc.	654,387		10,424,385
			57,100,819
TOTAL HEALTH CARE			100,184,137
INDUSTRIALS - 10.2%
Aerospace & Defense - 3.2%
General Dynamics Corp.	57,104		3,190,400
Honeywell International, Inc.	70,941		2,773,084
L-3 Communications Holdings, Inc.	49,656		3,307,090
Lockheed Martin Corp.	13,942		969,248
Northrop Grumman Corp.	63,758		3,450,583
Raytheon Co.	109,485		4,808,581
The Boeing Co.	57,500		3,514,975
United Technologies Corp.	86,798		5,660,098
			27,674,059
Air Freight & Logistics - 1.4%
FedEx Corp.	18,045		1,408,412
United Parcel Service, Inc. Class B	172,545		11,008,371
			12,416,783
Airlines - 0.1%
JetBlue Airways Corp. (a)(e)	144,375		824,381
Construction & Engineering - 0.3%
URS Corp. (a)	60,000		2,140,200
Electrical Equipment - 0.9%
Emerson Electric Co.	51,268		2,391,652
General Cable Corp. (a)(e)	88,822		1,976,290
Thomas & Betts Corp. (a)	95,000		3,510,250
			7,878,192
Industrial Conglomerates - 2.6%
3M Co.	58,156		4,568,154
General Electric Co.	1,251,425		18,120,634
			22,688,788
Machinery - 1.0%
Caterpillar, Inc.	44,138		2,876,032
Danaher Corp.	12,409		450,819
	Shares		Value
Deere & Co.	43,000		$ 2,720,610
Illinois Tool Works, Inc.	16,728		690,197
Oshkosh Co. (a)	75,000		1,866,000
			8,603,658
Road & Rail - 0.7%
CSX Corp.	38,000		1,895,820
Norfolk Southern Corp.	27,000		1,449,360
Union Pacific Corp.	40,543		2,957,206
			6,302,386
TOTAL INDUSTRIALS			88,528,447
INFORMATION TECHNOLOGY - 18.4%
Communications Equipment - 2.1%
Arris Group, Inc. (a)	80,000		653,600
Cisco Systems, Inc. (a)	539,682		10,820,624
Harris Corp.	61,605		2,591,722
QUALCOMM, Inc.	106,077		4,063,810
			18,129,756
Computers & Peripherals - 4.6%
Apple, Inc. (a)	93,399		22,730,515
Dell, Inc. (a)	96,743		1,138,665
EMC Corp. (a)	114,798		2,093,916
Hewlett-Packard Co.	299,608		11,528,916
SanDisk Corp. (a)(e)	76,481		2,542,228
			40,034,240
Electronic Equipment & Components - 0.7%
Avnet, Inc. (a)	65,000		1,488,500
Corning, Inc.	177,801		2,787,920
Tech Data Corp. (a)(e)	23,168		838,682
Vishay Intertechnology, Inc. (a)	160,000		1,230,400
			6,345,502
Internet Software & Services - 1.6%
eBay, Inc. (a)	86,050		1,999,802
Google, Inc. Class A (a)	25,788		11,605,116
			13,604,918
IT Services - 2.8%
Computer Sciences Corp.	66,570		2,650,152
DST Systems, Inc. (e)	22,000		896,280
International Business Machines Corp.	143,218		17,648,754
MasterCard, Inc. Class A	2,383		472,692
Visa, Inc. Class A	35,000		2,414,300
			24,082,178
Semiconductors & Semiconductor Equipment - 2.9%
Advanced Micro Devices, Inc. (a)(e)	342,224		1,923,299
Fairchild Semiconductor International, Inc. (a)	125,000		966,250
Intel Corp.	645,712		11,442,017
RF Micro Devices, Inc. (a)(e)	180,000		878,400
Common Stocks - continued
	Shares		Value
INFORMATION TECHNOLOGY - continued
Semiconductors & Semiconductor Equipment - continued
Texas Instruments, Inc.	277,535		$ 6,391,631
Xilinx, Inc.	133,032		3,212,723
			24,814,320
Software - 3.7%
Microsoft Corp.	887,629		20,841,529
Oracle Corp.	445,000		9,736,600
Symantec Corp. (a)	100,196		1,365,671
			31,943,800
TOTAL INFORMATION TECHNOLOGY			158,954,714
MATERIALS - 3.8%
Chemicals - 2.2%
Ashland, Inc.	43,453		2,018,826
Dow Chemical Co.	43,679		1,064,457
E.I. du Pont de Nemours & Co.	125,069		5,099,063
Lubrizol Corp.	49,294		4,599,623
Monsanto Co.	18,853		992,610
PPG Industries, Inc.	49,713		3,272,607
Praxair, Inc.	12,000		1,032,360
Rockwood Holdings, Inc. (a)	43,000		1,111,550
			19,191,096
Containers & Packaging - 0.2%
Ball Corp.	31,000		1,738,480
Metals & Mining - 0.8%
Freeport-McMoRan Copper & Gold, Inc.	75,794		5,455,652
Newmont Mining Corp.	19,161		1,174,953
			6,630,605
Paper & Forest Products - 0.6%
Domtar Corp.	43,770		2,627,075
International Paper Co.	141,224		2,889,443
			5,516,518
TOTAL MATERIALS			33,076,699
TELECOMMUNICATION SERVICES - 3.5%
Diversified Telecommunication Services - 3.5%
AT&T, Inc.	730,916		19,756,659
Frontier Communications Corp.	55,135		426,194
Qwest Communications International, Inc.	570,882		3,225,483
Verizon Communications, Inc.	229,695		6,778,299
			30,186,635
UTILITIES - 2.7%
Electric Utilities - 1.7%
American Electric Power Co., Inc.	49,771		1,762,391
DPL, Inc.	54,485		1,379,560
	Shares		Value
Duke Energy Corp.	118,000		$ 2,028,420
Exelon Corp.	48,975		1,994,262
IDACORP, Inc.	88,000		3,085,280
NextEra Energy, Inc.	20,000		1,074,600
Progress Energy, Inc.	24,000		1,029,840
Southern Co.	65,509		2,403,525
			14,757,878
Independent Power Producers & Energy Traders - 0.1%
Constellation Energy Group, Inc.	41,061		1,204,319
Multi-Utilities - 0.9%
Dominion Resources, Inc.	56,000		2,394,560
DTE Energy Co.	35,798		1,677,136
PG&E Corp.	33,000		1,543,080
Public Service Enterprise Group, Inc.	58,240		1,861,350
			7,476,126
TOTAL UTILITIES			23,438,323
TOTAL COMMON STOCKS (Cost $1,006,025,173)		855,525,242

U.S. Treasury Obligations - 0.5%
	Principal Amount
U.S. Treasury Bills, yield at date of purchase 0.21% to 0.33% 12/16/10 to 6/30/11 (f) (Cost $4,402,988)	$ 4,410,000	4,404,903

Money Market Funds - 6.9%
	Shares
Dreyfus Cash Management Institutional Shares, 0.10% (c)	11,325,234		11,325,234
Fidelity Securities Lending Cash Central Fund, 0.27% (b)(d)	48,352,380		48,352,380
TOTAL MONEY MARKET FUNDS (Cost $59,677,614)		59,677,614
TOTAL INVESTMENT PORTFOLIO - 106.4% (Cost $1,070,105,775)			919,607,759
NET OTHER ASSETS (LIABILITIES) - (6.4)%			(55,184,367)
NET ASSETS - 100%		$ 864,423,392

Futures Contracts
	Expiration Date	Underlying Face Amount at Value	Unrealized Appreciation/(Depreciation)
Purchased
Equity Index Contracts
168 CME E-mini S&P 500 Index Contracts	Sept. 2010	$ 8,805,720	$ (487,631)

The face value of futures purchased as a percentage of net assets is 1.0%

Legend

(a) Non-income producing

(b) Affiliated fund that is available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request.

(c) The rate quoted is the annualized seven-day yield of the fund at period end.

(d) Investment made with cash collateral received from securities on loan.

(e) Security or a portion of the security is on loan at period end.

(f) Security or a portion of the security was pledged to cover margin requirements for futures contracts. At the period end, the value of securities pledged amounted to $2,096,300.

Affiliated Central Funds

Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:

Fund	Income earned
Fidelity Securities Lending Cash Central Fund	$ 143,262

Other Information

The following is a summary of the inputs used, as of August 31, 2010, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the table below, please refer to the Security Valuation section in the accompanying Notes to Financial Statements.

Valuation Inputs at Reporting Date:
Description	Total	Level 1	Level 2	Level 3
Investments in Securities:
Equities:
Consumer Discretionary	$ 93,379,862	$ 93,379,862	$ -	$ -
Consumer Staples	96,594,449	96,594,449	-	-
Energy	104,547,822	104,547,822	-	-
Financials	126,634,154	126,634,154	-	-
Health Care	100,184,137	100,184,137	-	-
Industrials	88,528,447	88,528,447	-	-
Information Technology	158,954,714	158,954,714	-	-
Materials	33,076,699	33,076,699	-	-
Telecommunication Services	30,186,635	30,186,635	-	-
Utilities	23,438,323	23,438,323	-	-
U.S. Government and Government Agency Obligations	4,404,903	-	4,404,903	-
Money Market Funds	59,677,614	59,677,614	-	-
Total Investments in Securities:	$ 919,607,759	$ 915,202,856	$ 4,404,903	$ -
Derivative Instruments:
Liabilities
Futures Contracts	$ (487,631)	$ (487,631)	$ -	$ -

Value of Derivative Instruments

The following table is a summary of the Fund's value of derivative instruments by risk exposure as of August 31, 2010. For additional information on derivative instruments, please refer to the Derivative Instruments section in the accompanying Notes to Financial Statements.

Risk Exposure / Derivative Type	Value
	Asset	Liability
Equity Risk
Futures Contracts (a)	$ -	$ (487,631)
Total Value of Derivatives	$ -	$ (487,631)

(a) Reflects cumulative appreciation/(depreciation) on futures contracts as disclosed on the Schedule of Investments. Only the period end variation margin is separately disclosed on the Statement of Assets and Liabilities.

Income Tax Information

At February 28, 2010, the Fund had a capital loss carryforward of approximately $140,152,218 of which $391,157, $99,838,325 and $39,922,736 will expire on February 29, 2016, February 28, 2017 and 2018, respectively. Capital loss carryforwards are only available to offset future capital gains of the Fund to the extent provided by regulations and may be limited.

The Fund intends to elect to defer to its fiscal year ending February 28, 2011 approximately $10,405,393 of losses recognized during the period November 1, 2009 to February 28, 2010.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

Fidelity Large Cap Core Enhanced Index Fund

Financial Statements

Statement of Assets and Liabilities

	August 31, 2010 (Unaudited)
Assets
Investment in securities, at value (including securities loaned of $46,975,979) - See accompanying schedule: Unaffiliated issuers (cost $1,021,753,395)	$ 871,255,379
Fidelity Central Funds (cost $48,352,380)	48,352,380
Total Investments (cost $1,070,105,775)		$ 919,607,759
Receivable for fund shares sold		343,328
Dividends receivable		2,235,601
Interest receivable		2,389
Distributions receivable from Fidelity Central Funds		6,182
Receivable for daily variation on futures contracts		53,111
Total assets		922,248,370
Liabilities
Payable for fund shares redeemed	9,132,413
Accrued management fee	226,814
Other affiliated payables	113,371
Collateral on securities loaned, at value	48,352,380
Total liabilities		57,824,978
Net Assets		$ 864,423,392
Net Assets consist of:
Paid in capital		$ 1,133,821,522
Undistributed net investment income		7,744,705
Accumulated undistributed net realized gain (loss) on investments		(126,157,190)
Net unrealized appreciation (depreciation) on investments		(150,985,645)
Net Assets, for 120,096,362 shares outstanding		$ 864,423,392
Net Asset Value, offering price and redemption price per share ($864,423,392 ÷ 120,096,362 shares)		$ 7.20

Statement of Operations

Six months ended August 31, 2010 (Unaudited)
Investment Income
Dividends		$ 9,865,695
Interest		17,209
Income from Fidelity Central Funds (including $143,262 of security lending)		143,262
Total income		10,026,166
Expenses
Management fee	$ 1,446,059
Transfer agent fees	727,358
Independent trustees' compensation	8,656
Interest	1,531
Miscellaneous	1,147
Total expenses before reductions	2,184,751
Expense reductions	(62)	2,184,689
Net investment income (loss)		7,841,477
Realized and Unrealized Gain (Loss) Net realized gain (loss) on:
Investment securities:
Unaffiliated issuers	27,383,803
Futures contracts	212,206
Total net realized gain (loss)		27,596,009
Change in net unrealized appreciation (depreciation) on: Investment securities	(88,790,720)
Futures contracts	(326,189)
Total change in net unrealized appreciation (depreciation)		(89,116,909)
Net gain (loss)		(61,520,900)
Net increase (decrease) in net assets resulting from operations		$ (53,679,423)

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

Statement of Changes in Net Assets

	Six months ended August 31, 2010 (Unaudited)	Year ended February 28, 2010
Increase (Decrease) in Net Assets
Operations
Net investment income (loss)	$ 7,841,477	$ 17,726,017
Net realized gain (loss)	27,596,009	16,226,928
Change in net unrealized appreciation (depreciation)	(89,116,909)	348,621,025
Net increase (decrease) in net assets resulting from operations	(53,679,423)	382,573,970
Distributions to shareholders from net investment income	(3,132,620)	(17,963,606)
Share transactions Proceeds from sales of shares	68,735,979	212,649,935
Reinvestment of distributions	3,116,623	17,876,296
Cost of shares redeemed	(156,801,989)	(312,499,917)
Net increase (decrease) in net assets resulting from share transactions	(84,949,387)	(81,973,686)
Total increase (decrease) in net assets	(141,761,430)	282,636,678
Net Assets
Beginning of period	1,006,184,822	723,548,144
End of period (including undistributed net investment income of $7,744,705 and undistributed net investment income of $3,035,848, respectively)	$ 864,423,392	$ 1,006,184,822
Other Information Shares
Sold	8,942,022	34,181,625
Issued in reinvestment of distributions	376,404	2,454,564
Redeemed	(20,091,632)	(43,162,731)
Net increase (decrease)	(10,773,206)	(6,526,542)

Financial Highlights

	Six months ended August 31, 2010	Years ended February 28,
	(Unaudited)	2010	2009	2008 G
Selected Per-Share Data
Net asset value, beginning of period	$ 7.69	$ 5.27	$ 9.20	$ 10.00
Income from Investment Operations
Net investment income (loss) D	.06	.12	.16	.15
Net realized and unrealized gain (loss)	(.52)	2.43	(3.95)	(.90)
Total from investment operations	(.46)	2.55	(3.79)	(.75)
Distributions from net investment income	(.03)	(.13)	(.14)	(.05)
Net asset value, end of period	$ 7.20	$ 7.69	$ 5.27	$ 9.20
Total Return B,C	(6.09)%	48.52%	(41.51)%	(7.59)%
Ratios to Average Net Assets E,H
Expenses before reductions	.45% A	.45%	.45%	.45% A
Expenses net of fee waivers, if any	.45% A	.45%	.45%	.45% A
Expenses net of all reductions	.45% A	.45%	.45%	.45% A
Net investment income (loss)	1.62% A	1.76%	2.05%	1.83% A
Supplemental Data
Net assets, end of period (000 omitted)	$ 864,423	$ 1,006,185	$ 723,548	$ 834,523
Portfolio turnover rate F	46% A	60% I	45% I	5% A

^A Annualized

^B Total returns for periods of less than one year are not annualized.

^C Total returns would have been lower had certain expenses not been reduced during the periods shown.

^D Calculated based on average shares outstanding during the period.

^E Fees and expenses of the underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.

^F Amount does not include the portfolio activity of any underlying Fidelity Central Funds.

^G For the period April 19, 2007 (commencement of operations) to February 29, 2008.

^H Expense ratios reflect operating expenses of the Fund. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the Fund during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the Fund.

^I Reflects adjustments to exclude transactions in money market mutual funds.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

Fidelity Mid Cap Enhanced Index Fund

Investment Changes (Unaudited)

Top Ten Stocks as of August 31, 2010
	% of fund's net assets	% of fund's net assets 6 months ago
Intuit, Inc.	1.0	0.4
Annaly Capital Management, Inc.	0.9	0.8
Qwest Communications International, Inc.	0.8	0.2
Edison International	0.8	0.4
FMC Technologies, Inc.	0.8	0.3
Lubrizol Corp.	0.8	0.6
Spectra Energy Corp.	0.8	0.9
Xerox Corp.	0.8	0.9
Consolidated Edison, Inc.	0.8	0.7
Eaton Corp.	0.7	0.8
	8.2
Market Sectors as of August 31, 2010
	% of fund's net assets	% of fund's net assets 6 months ago
Financials	17.3	16.9
Information Technology	16.1	15.4
Industrials	13.9	12.6
Consumer Discretionary	12.2	16.2
Health Care	8.9	9.6
Energy	8.5	7.9
Materials	7.5	6.6
Consumer Staples	6.9	5.9
Utilities	6.4	5.5
Telecommunication Services	1.5	0.8

Semiannual Report

Fidelity Mid Cap Enhanced Index Fund

Investments August 31, 2010 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 99.2%
	Shares		Value
CONSUMER DISCRETIONARY - 12.2%
Auto Components - 1.2%
Autoliv, Inc.	310		$ 16,783
Dana Holding Corp. (a)	13,986		143,496
Gentex Corp.	3,700		65,009
TRW Automotive Holdings Corp. (a)	5,679		197,402
			422,690
Automobiles - 0.5%
Ford Motor Co. (a)(d)	14,590		164,721
Diversified Consumer Services - 0.9%
DeVry, Inc.	1,120		42,683
H&R Block, Inc.	9,825		126,251
ITT Educational Services, Inc. (a)	2,000		106,520
Service Corp. International	5,760		44,294
			319,748
Hotels, Restaurants & Leisure - 1.8%
Brinker International, Inc.	4,207		66,260
Marriott International, Inc. Class A	2,600		83,226
MGM Mirage, Inc. (a)	1,736		15,641
Panera Bread Co. Class A (a)(d)	1,300		103,922
Starbucks Corp.	6,778		155,826
Starwood Hotels & Resorts Worldwide, Inc.	169		7,897
Wyndham Worldwide Corp.	8,845		205,116
			637,888
Household Durables - 0.9%
D.R. Horton, Inc.	1,269		13,020
Garmin Ltd.	1,088		28,952
Jarden Corp.	3,938		106,090
Leggett & Platt, Inc.	8,452		162,025
Lennar Corp. Class A	980		12,907
Stanley Black & Decker, Inc.	215		11,533
			334,527
Internet & Catalog Retail - 0.6%
Expedia, Inc.	4,224		96,561
Liberty Media Corp. Interactive Series A (a)	5,200		54,860
Priceline.com, Inc. (a)	201		58,587
			210,008
Leisure Equipment & Products - 0.4%
Mattel, Inc.	7,581		159,125
Media - 1.5%
CBS Corp. Class B	17,366		239,998
Discovery Communications, Inc. (a)	662		24,991
Discovery Communications, Inc. Class C (a)	222		7,504
Gannett Co., Inc.	13,452		162,635
Interpublic Group of Companies, Inc. (a)(d)	12,000		102,360
McGraw-Hill Companies, Inc.	269		7,438
			544,926
	Shares		Value
Multiline Retail - 1.0%
Dollar Tree, Inc. (a)	3,688		$ 167,177
Family Dollar Stores, Inc.	1,000		42,790
Macy's, Inc.	6,984		135,769
Nordstrom, Inc.	185		5,350
			351,086
Specialty Retail - 2.0%
Advance Auto Parts, Inc.	2,000		108,940
AutoZone, Inc. (a)(d)	500		104,890
Bed Bath & Beyond, Inc. (a)	880		31,654
Limited Brands, Inc.	4,513		106,507
Signet Jewelers Ltd. (a)	3,901		103,142
Tiffany & Co., Inc. (d)	2,000		79,260
TJX Companies, Inc.	4,338		172,175
			706,568
Textiles, Apparel & Luxury Goods - 1.4%
Coach, Inc.	5,620		201,421
Crocs, Inc. (a)	6,000		75,000
Fossil, Inc. (a)	3,659		173,766
VF Corp.	950		67,089
			517,276
TOTAL CONSUMER DISCRETIONARY			4,368,563
CONSUMER STAPLES - 6.9%
Beverages - 0.9%
Brown-Forman Corp. Class B (non-vtg.)	800		49,032
Coca-Cola Enterprises, Inc.	5,335		151,834
Dr Pepper Snapple Group, Inc.	3,500		128,870
			329,736
Food & Staples Retailing - 1.6%
Andersons, Inc.	5,000		179,150
Nash-Finch Co.	4,785		187,907
PriceSmart, Inc.	6,813		175,844
Safeway, Inc.	1,450		27,260
SUPERVALU, Inc.	275		2,673
			572,834
Food Products - 3.3%
Bunge Ltd.	1,500		79,500
Campbell Soup Co. (d)	3,863		143,935
ConAgra Foods, Inc.	3,004		64,856
Corn Products International, Inc.	1,679		57,304
Del Monte Foods Co.	4,468		58,263
H.J. Heinz Co.	5,180		239,523
Hershey Co. (d)	5,035		233,976
Mead Johnson Nutrition Co. Class A	501		26,147
Sara Lee Corp.	9,677		139,736
Tyson Foods, Inc. Class A	7,854		128,649
			1,171,889
Household Products - 0.0%
Clorox Co.	151		9,788
Common Stocks - continued
	Shares		Value
CONSUMER STAPLES - continued
Personal Products - 0.3%
Avon Products, Inc.	1,780		$ 51,798
Estee Lauder Companies, Inc. Class A	238		13,345
Herbalife Ltd.	505		28,068
			93,211
Tobacco - 0.8%
Lorillard, Inc.	3,258		247,641
Reynolds American, Inc.	564		30,761
			278,402
TOTAL CONSUMER STAPLES			2,455,860
ENERGY - 8.5%
Energy Equipment & Services - 3.6%
Cameron International Corp. (a)	6,243		229,618
Complete Production Services, Inc. (a)	2,430		42,865
Dril-Quip, Inc. (a)	3,546		187,477
Ensco International Ltd. ADR	2,800		115,164
FMC Technologies, Inc. (a)	4,599		284,448
Noble Corp.	5,591		173,992
Oceaneering International, Inc. (a)	584		29,206
Oil States International, Inc. (a)	4,382		180,670
Schlumberger Ltd.	515		27,465
Weatherford International Ltd. (a)	2,471		36,843
			1,307,748
Oil, Gas & Consumable Fuels - 4.9%
Alpha Natural Resources, Inc. (a)	2,168		80,498
Bill Barrett Corp. (a)	4,899		159,511
Cimarex Energy Co.	3,660		239,437
CONSOL Energy, Inc.	23		741
Forest Oil Corp. (a)	1,252		32,702
Gran Tierra Energy, Inc. (a)	14,747		92,906
McMoRan Exploration Co. (a)	15,081		213,999
Murphy Oil Corp.	506		27,101
Noble Energy, Inc.	3,285		229,227
Peabody Energy Corp.	1,022		43,742
Southern Union Co.	8,228		185,130
Spectra Energy Corp.	13,694		278,536
Valero Energy Corp.	1,049		16,543
World Fuel Services Corp.	5,414		138,274
			1,738,347
TOTAL ENERGY			3,046,095
FINANCIALS - 17.3%
Capital Markets - 0.8%
Ameriprise Financial, Inc.	1,200		52,296
Eaton Vance Corp. (non-vtg.)	2,670		69,393
Raymond James Financial, Inc.	1,783		41,152
	Shares		Value
T. Rowe Price Group, Inc.	914		$ 40,015
Waddell & Reed Financial, Inc. Class A	3,967		91,281
			294,137
Commercial Banks - 2.4%
Banco Latin Americano de Exporaciones SA (BLADEX) Series E	15,588		197,812
Comerica, Inc.	471		16,207
Fifth Third Bancorp	2,932		32,399
First Citizen Bancshares, Inc.	500		83,985
International Bancshares Corp.	6,044		94,286
M&T Bank Corp. (d)	2,982		255,378
Prosperity Bancshares, Inc.	3,942		112,150
SunTrust Banks, Inc.	2,580		58,024
			850,241
Consumer Finance - 0.8%
Cash America International, Inc.	981		30,048
Credit Acceptance Corp. (a)	1,076		60,955
Discover Financial Services	11,429		165,835
SLM Corp. (a)	4,000		44,200
			301,038
Diversified Financial Services - 2.3%
IntercontinentalExchange, Inc. (a)	2,443		233,453
Leucadia National Corp. (a)	2,651		56,599
Moody's Corp. (d)	11,030		233,174
NYSE Euronext	8,953		248,356
The NASDAQ Stock Market, Inc. (a)	2,400		42,984
			814,566
Insurance - 3.7%
American Financial Group, Inc.	4,355		125,293
American International Group, Inc. (a)(d)	1,105		37,493
Aon Corp. (d)	652		23,628
Aspen Insurance Holdings Ltd.	3,817		108,403
Axis Capital Holdings Ltd.	4,610		142,357
Endurance Specialty Holdings Ltd.	2,111		77,769
Genworth Financial, Inc. Class A (a)	6,899		74,716
Hartford Financial Services Group, Inc.	758		15,281
Horace Mann Educators Corp.	5,647		92,611
Marsh & McLennan Companies, Inc.	2,048		48,579
PartnerRe Ltd.	2,462		183,296
Principal Financial Group, Inc.	339		7,814
Progressive Corp.	3,246		64,271
Reinsurance Group of America, Inc.	2,020		88,355
Transatlantic Holdings, Inc.	1,350		64,355
Unum Group	7,933		159,057
			1,313,278
Real Estate Investment Trusts - 6.0%
Annaly Capital Management, Inc.	18,135		315,186
Apartment Investment & Management Co. Class A	2,444		49,955
Boston Properties, Inc.	1,235		100,529
Chimera Investment Corp.	56,492		222,014
CommonWealth REIT	1,109		26,749
Common Stocks - continued
	Shares		Value
FINANCIALS - continued
Real Estate Investment Trusts - continued
Equity Residential (SBI)	1,091		$ 50,001
FelCor Lodging Trust, Inc. (a)	15,000		59,700
HCP, Inc.	467		16,448
Hospitality Properties Trust (SBI)	7,885		154,152
Host Hotels & Resorts, Inc.	1,226		16,097
Liberty Property Trust (SBI)	1,200		36,444
Plum Creek Timber Co., Inc. (d)	7,063		243,462
PS Business Parks, Inc.	2,618		147,315
Public Storage	2,253		220,839
Rayonier, Inc.	5,125		242,413
Ventas, Inc.	1,432		72,330
Vornado Realty Trust	1,894		153,528
			2,127,162
Real Estate Management & Development - 0.0%
Jones Lang LaSalle, Inc.	138		10,420
Thrifts & Mortgage Finance - 1.3%
Hudson City Bancorp, Inc.	18,418		212,267
New York Community Bancorp, Inc. (d)	15,260		242,481
			454,748
TOTAL FINANCIALS			6,165,590
HEALTH CARE - 8.9%
Biotechnology - 0.5%
Biogen Idec, Inc. (a)	2,852		153,438
Cephalon, Inc. (a)	298		16,870
			170,308
Health Care Equipment & Supplies - 1.4%
C. R. Bard, Inc.	78		5,993
Hill-Rom Holdings, Inc.	6,013		193,017
Hologic, Inc. (a)	12,524		177,716
Intuitive Surgical, Inc. (a)	150		39,755
Kinetic Concepts, Inc. (a)	2,640		84,269
			500,750
Health Care Providers & Services - 2.7%
Amedisys, Inc. (a)(d)	2,772		64,089
AmerisourceBergen Corp.	8,839		241,128
CIGNA Corp.	605		19,493
Coventry Health Care, Inc. (a)	3,000		58,050
Humana, Inc. (a)	5,294		253,000
Laboratory Corp. of America Holdings (a)(d)	1,590		115,466
Lincare Holdings, Inc.	5,068		116,665
Quest Diagnostics, Inc.	2,200		95,700
			963,591
Life Sciences Tools & Services - 2.2%
Bruker BioSciences Corp. (a)	11,674		138,804
Life Technologies Corp. (a)	5,748		245,842
Mettler-Toledo International, Inc. (a)	937		103,623
	Shares		Value
PerkinElmer, Inc.	3,000		$ 63,030
Waters Corp. (a)	3,803		230,158
			781,457
Pharmaceuticals - 2.1%
Allergan, Inc.	2,826		173,573
Endo Pharmaceuticals Holdings, Inc. (a)	6,500		176,605
Mylan, Inc. (a)(d)	10,407		178,584
Perrigo Co.	3,964		225,908
			754,670
TOTAL HEALTH CARE			3,170,776
INDUSTRIALS - 13.9%
Aerospace & Defense - 0.6%
Goodrich Corp.	148		10,135
L-3 Communications Holdings, Inc.	2,939		195,737
Rockwell Collins, Inc.	360		19,415
			225,287
Air Freight & Logistics - 0.8%
Atlas Air Worldwide Holdings, Inc. (a)	3,542		153,510
C.H. Robinson Worldwide, Inc.	364		23,656
Expeditors International of Washington, Inc.	2,820		111,644
			288,810
Airlines - 0.3%
Delta Air Lines, Inc. (a)	6,635		69,402
Southwest Airlines Co.	3,200		35,360
			104,762
Building Products - 0.4%
Masco Corp.	13,834		145,119
Commercial Services & Supplies - 1.0%
Avery Dennison Corp.	3,291		107,023
Cintas Corp.	3,875		98,774
R.R. Donnelley & Sons Co.	9,174		138,940
Republic Services, Inc.	800		23,544
			368,281
Construction & Engineering - 1.2%
EMCOR Group, Inc. (a)	2,370		53,894
Fluor Corp.	184		8,217
KBR, Inc.	9,617		223,114
URS Corp. (a)	3,977		141,860
			427,085
Electrical Equipment - 2.3%
Cooper Industries PLC Class A	3,467		145,926
Franklin Electric Co., Inc.	5,563		176,180
General Cable Corp. (a)	3,000		66,750
Hubbell, Inc. Class B	3,280		147,534
Regal-Beloit Corp.	1,518		83,976
Roper Industries, Inc.	870		50,530
Thomas & Betts Corp. (a)	4,156		153,564
			824,460
Common Stocks - continued
	Shares		Value
INDUSTRIALS - continued
Machinery - 5.6%
AGCO Corp. (a)	5,000		$ 165,250
ArvinMeritor, Inc. (a)	1,731		22,624
CNH Global NV (a)	5,000		140,750
Cummins, Inc.	997		74,187
Dover Corp.	5,355		239,690
Eaton Corp.	3,817		265,205
Ingersoll-Rand Co. Ltd.	1,036		33,701
Joy Global, Inc.	3,817		216,577
Lindsay Corp.	3,000		110,610
Oshkosh Co. (a)	4,082		101,560
Parker Hannifin Corp.	3,051		180,497
SPX Corp.	1,000		56,060
Timken Co.	6,069		198,517
Toro Co.	3,794		189,321
			1,994,549
Professional Services - 0.7%
Dun & Bradstreet Corp.	3,105		204,620
FTI Consulting, Inc. (a)	400		13,112
Manpower, Inc.	534		22,695
			240,427
Road & Rail - 0.3%
Landstar System, Inc.	2,000		71,960
Ryder System, Inc.	855		32,806
			104,766
Trading Companies & Distributors - 0.7%
TAL International Group, Inc.	7,297		155,572
W.W. Grainger, Inc.	885		93,624
			249,196
TOTAL INDUSTRIALS			4,972,742
INFORMATION TECHNOLOGY - 16.1%
Communications Equipment - 1.6%
Harris Corp.	4,492		188,978
InterDigital, Inc. (a)	7,038		173,979
Ixia (a)	17,244		194,685
			557,642
Computers & Peripherals - 1.3%
NetApp, Inc. (a)	2,128		86,056
SanDisk Corp. (a)	2,000		66,480
Synaptics, Inc. (a)(d)	6,400		169,088
Western Digital Corp. (a)	5,713		137,969
			459,593
Electronic Equipment & Components - 2.0%
Agilent Technologies, Inc. (a)	3,130		84,416
Arrow Electronics, Inc. (a)	7,448		170,410
AVX Corp.	2,500		31,075
Ingram Micro, Inc. Class A (a)	9,319		140,344
	Shares		Value
Multi-Fineline Electronix, Inc. (a)	7,417		$ 154,570
Vishay Intertechnology, Inc. (a)	17,225		132,460
			713,275
Internet Software & Services - 0.2%
Akamai Technologies, Inc. (a)	1,833		84,446
IT Services - 3.1%
Acxiom Corp. (a)	1,160		14,378
Amdocs Ltd. (a)	5,000		131,150
Cognizant Technology Solutions Corp. Class A (a)	1,384		79,725
Computer Sciences Corp.	4,655		185,316
DST Systems, Inc.	1,000		40,740
Fidelity National Information Services, Inc.	4,675		120,802
Fiserv, Inc. (a)	2,630		131,579
Hewitt Associates, Inc. Class A (a)	2,150		103,781
Lender Processing Services, Inc.	851		24,960
NeuStar, Inc. Class A (a)	2,630		58,228
SAIC, Inc. (a)	6,840		101,779
Teradata Corp. (a)	3,001		98,253
The Western Union Co.	1,698		26,625
			1,117,316
Office Electronics - 0.8%
Xerox Corp.	32,597		275,119
Semiconductors & Semiconductor Equipment - 5.0%
Advanced Micro Devices, Inc. (a)	6,048		33,990
Altera Corp.	7,726		190,600
Analog Devices, Inc.	4,250		118,490
Broadcom Corp. Class A	366		10,969
Lattice Semiconductor Corp. (a)	37,260		154,629
Linear Technology Corp.	6,220		178,203
Marvell Technology Group Ltd. (a)	13,133		209,340
Microchip Technology, Inc. (d)	5,242		145,151
Micron Technology, Inc. (a)(d)	34,201		221,109
National Semiconductor Corp.	15,484		195,253
NVIDIA Corp. (a)	1,364		12,726
ON Semiconductor Corp. (a)	5,000		30,900
Skyworks Solutions, Inc. (a)	2,054		36,684
Xilinx, Inc.	9,425		227,614
			1,765,658
Software - 2.1%
BMC Software, Inc. (a)	2,217		79,945
CA, Inc.	13,782		248,214
Citrix Systems, Inc. (a)	428		24,798
Intuit, Inc. (a)	8,551		365,981
Salesforce.com, Inc. (a)	355		39,007
			757,945
TOTAL INFORMATION TECHNOLOGY			5,730,994
MATERIALS - 7.5%
Chemicals - 3.8%
Ashland, Inc.	3,559		165,351
Common Stocks - continued
	Shares		Value
MATERIALS - continued
Chemicals - continued
Cabot Corp.	2,864		$ 81,424
Celanese Corp. Class A	1,150		30,705
CF Industries Holdings, Inc.	2,534		234,395
Ecolab, Inc.	700		33,180
Lubrizol Corp.	2,988		278,810
Nalco Holding Co.	2,000		45,440
OM Group, Inc. (a)	4,667		119,475
PPG Industries, Inc.	3,964		260,950
Sigma Aldrich Corp.	894		47,534
The Scotts Miracle-Gro Co. Class A	1,117		52,756
			1,350,020
Containers & Packaging - 0.4%
Graphic Packaging Holding Co. (a)	38,301		116,818
Sealed Air Corp.	600		12,306
Sonoco Products Co.	779		24,500
			153,624
Metals & Mining - 1.7%
Golden Star Resources Ltd. (a)	42,895		201,551
Hecla Mining Co. (a)(d)	35,695		204,175
Walter Energy, Inc.	2,625		189,105
			594,831
Paper & Forest Products - 1.6%
Domtar Corp.	2,610		156,652
International Paper Co.	11,900		243,474
MeadWestvaco Corp.	7,266		158,108
Weyerhaeuser Co.	354		5,558
			563,792
TOTAL MATERIALS			2,662,267
TELECOMMUNICATION SERVICES - 1.5%
Diversified Telecommunication Services - 1.2%
CenturyTel, Inc.	726		26,252
Qwest Communications International, Inc.	52,951		299,173
Windstream Corp.	9,600		110,736
			436,161
Wireless Telecommunication Services - 0.3%
Crown Castle International Corp. (a)	972		39,969
NII Holdings, Inc. (a)	1,532		55,535
			95,504
TOTAL TELECOMMUNICATION SERVICES			531,665
	Shares		Value
UTILITIES - 6.4%
Electric Utilities - 1.9%
Cleco Corp.	798		$ 22,607
DPL, Inc.	1,763		44,639
Edison International	8,689		293,254
FirstEnergy Corp.	840		30,685
IDACORP, Inc.	4,397		154,159
NV Energy, Inc.	3,400		43,520
PPL Corp.	1,870		50,789
Progress Energy, Inc.	870		37,332
			676,985
Gas Utilities - 0.7%
Energen Corp.	2,258		96,371
National Fuel Gas Co. New Jersey	1,100		47,278
UGI Corp.	4,122		113,767
			257,416
Independent Power Producers & Energy Traders - 1.0%
AES Corp. (a)	11,281		115,517
Constellation Energy Group, Inc.	6,466		189,648
Mirant Corp. (a)	5,120		49,664
			354,829
Multi-Utilities - 2.8%
CenterPoint Energy, Inc.	2,997		44,326
CMS Energy Corp.	4,250		74,375
Consolidated Edison, Inc.	5,718		271,777
DTE Energy Co.	5,108		239,310
NiSource, Inc.	8,300		143,922
Sempra Energy	2,050		104,386
TECO Energy, Inc.	3,200		54,016
Xcel Energy, Inc.	2,750		61,353
			993,465
TOTAL UTILITIES			2,282,695
TOTAL COMMON STOCKS (Cost $34,066,329)		35,387,247

U.S. Treasury Obligations - 0.5%
	Principal Amount
U.S. Treasury Bills, yield at date of purchase 0.24% to 0.39% 11/18/10 to 5/5/11 (e) (Cost $179,772)	$ 180,000	179,872

Money Market Funds - 4.2%
	Shares	Value
Fidelity Securities Lending Cash Central Fund, 0.27% (b)(c) (Cost $1,485,330)	1,485,330	$ 1,485,330

TOTAL INVESTMENT PORTFOLIO - 103.9% (Cost $35,731,431) 37,052,449

NET OTHER ASSETS (LIABILITIES) - (3.9)%		(1,382,880)
NET ASSETS - 100%	$ 35,669,569

Futures Contracts
	Expiration Date	Underlying Face Amount at Value	Unrealized Appreciation/(Depreciation)
Purchased
Equity Index Contracts
3 CME E-mini S&P MidCap 400 Index Contracts	Sept. 2010	$ 216,330	$ (6)

The face value of futures purchased as a percentage of net assets is 0.6%

Legend

(a) Non-income producing

(b) Affiliated fund that is available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request.

(c) Investment made with cash collateral received from securities on loan.

(d) Security or a portion of the security is on loan at period end.

(e) Security or a portion of the security was pledged to cover margin requirements for futures contracts. At the period end, the value of securities pledged amounted to $29,962.

Affiliated Central Funds

Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:

Fund	Income earned
Fidelity Securities Lending Cash Central Fund	$ 8,368

Other Information

The following is a summary of the inputs used, as of August 31, 2010, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the table below, please refer to the Security Valuation section in the accompanying Notes to Financial Statements.

Valuation Inputs at Reporting Date:
Description	Total	Level 1	Level 2	Level 3
Investments in Securities:
Equities:
Consumer Discretionary	$ 4,368,563	$ 4,368,563	$ -	$ -
Consumer Staples	2,455,860	2,455,860	-	-
Energy	3,046,095	3,046,095	-	-
Financials	6,165,590	6,165,590	-	-
Health Care	3,170,776	3,170,776	-	-
Industrials	4,972,742	4,972,742	-	-
Information Technology	5,730,994	5,730,994	-	-
Materials	2,662,267	2,662,267	-	-
Telecommunication Services	531,665	531,665	-	-
Utilities	2,282,695	2,282,695	-	-
U.S. Government and Government Agency Obligations	179,872	-	179,872	-
Money Market Funds	1,485,330	1,485,330	-	-
Total Investments in Securities:	$ 37,052,449	$ 36,872,577	$ 179,872	$ -
Derivative Instruments:
Liabilities
Futures Contracts	$ (6)	$ (6)	$ -	$ -

Value of Derivative Instruments

The following table is a summary of the Fund's value of derivative instruments by risk exposure as of August 31, 2010. For additional information on derivative instruments, please refer to the Derivative Instruments section in the accompanying Notes to Financial Statements.

Risk Exposure / Derivative Type	Value
	Asset	Liability
Equity Risk
Futures Contracts (a)	$ -	$ (6)
Total Value of Derivatives	$ -	$ (6)

(a) Reflects cumulative appreciation/(depreciation) on futures contracts as disclosed on the Schedule of Investments. Only the period end variation margin is separately disclosed on the Statement of Assets and Liabilities.

Income Tax Information

At February 28, 2010, the Fund had a capital loss carryforward of approximately $970,884 of which $349,825 and $621,059 will expire on February 28, 2017 and 2018, respectively. Capital loss carryforwards are only available to offset future capital gains of the Fund to the extent provided by regulations and may be limited.

The Fund intends to elect to defer to its fiscal year ending February 28, 2011 approximately $395,633 of losses recognized during the period November 1, 2009 to February 28, 2010.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

Fidelity Mid Cap Enhanced Index Fund

Financial Statements

Statement of Assets and Liabilities

	August 31, 2010 (Unaudited)
Assets
Investment in securities, at value (including securities loaned of $1,451,677) - See accompanying schedule: Unaffiliated issuers (cost $34,246,101)	$ 35,567,119
Fidelity Central Funds (cost $1,485,330)	1,485,330
Total Investments (cost $35,731,431)		$ 37,052,449
Receivable for fund shares sold		187,986
Dividends receivable		61,144
Interest receivable		51
Distributions receivable from Fidelity Central Funds		845
Receivable for daily variation on futures contracts		247
Total assets		37,302,722
Liabilities
Payable to custodian bank	$ 65,567
Payable for fund shares redeemed	63,755
Accrued management fee	13,875
Other affiliated payables	4,626
Collateral on securities loaned, at value	1,485,330
Total liabilities		1,633,153
Net Assets		$ 35,669,569
Net Assets consist of:
Paid in capital		$ 35,825,044
Undistributed net investment income		221,030
Accumulated undistributed net realized gain (loss) on investments		(1,697,517)
Net unrealized appreciation (depreciation) on investments		1,321,012
Net Assets, for 4,549,026 shares outstanding		$ 35,669,569
Net Asset Value, offering price and redemption price per share ($35,669,569 ÷ 4,549,026 shares)		$ 7.84

Statement of Operations

Six months ended August 31, 2010 (Unaudited)
Investment Income
Dividends		$ 331,691
Interest		984
Income from Fidelity Central Funds (including $8,368 from security lending)		8,368
Total income		341,043
Expenses
Management fee	$ 84,725
Transfer agent fees	28,353
Independent trustees' compensation	334
Miscellaneous	43
Total expenses before reductions	113,455
Expense reductions	(3)	113,452
Net investment income (loss)		227,591
Realized and Unrealized Gain (Loss) Net realized gain (loss) on:
Investment securities:
Unaffiliated issuers	403,492
Futures contracts	(35,391)
Total net realized gain (loss)		368,101
Change in net unrealized appreciation (depreciation) on: Investment securities	(2,231,890)
Futures contracts	(43,221)
Total change in net unrealized appreciation (depreciation)		(2,275,111)
Net gain (loss)		(1,907,010)
Net increase (decrease) in net assets resulting from operations		$ (1,679,419)

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

Statement of Changes in Net Assets

	Six months ended August 31, 2010 (Unaudited)	Year ended February 28, 2010
Increase (Decrease) in Net Assets
Operations
Net investment income (loss)	$ 227,591	$ 298,703
Net realized gain (loss)	368,101	815,083
Change in net unrealized appreciation (depreciation)	(2,275,111)	9,222,441
Net increase (decrease) in net assets resulting from operations	(1,679,419)	10,336,227
Distributions to shareholders from net investment income	(44,727)	(290,636)
Distributions to shareholders from net realized gain	(961,641)	-
Total distributions	(1,006,368)	(290,636)
Share transactions Proceeds from sales of shares	12,018,290	21,915,812
Reinvestment of distributions	965,607	272,697
Cost of shares redeemed	(8,247,230)	(12,855,104)
Net increase (decrease) in net assets resulting from share transactions	4,736,667	9,333,405
Redemption fees	1,827	2,474
Total increase (decrease) in net assets	2,052,707	19,381,470
Net Assets
Beginning of period	33,616,862	14,235,392
End of period (including undistributed net investment income of $221,030 and undistributed net investment income of $38,166, respectively)	$ 35,669,569	$ 33,616,862
Other Information Shares
Sold	1,395,841	3,090,781
Issued in reinvestment of distributions	108,739	34,827
Redeemed	(990,027)	(1,869,024)
Net increase (decrease)	514,553	1,256,584

Financial Highlights

	Six months ended August 31, 2010	Years ended February 28,
	(Unaudited)	2010	2009	2008 G
Selected Per-Share Data
Net asset value, beginning of period	$ 8.33	$ 5.12	$ 9.16	$ 10.00
Income from Investment Operations
Net investment income (loss) D	.05	.09	.10	.02
Net realized and unrealized gain (loss)	(.31)	3.20	(4.07)	(.86)
Total from investment operations	(.26)	3.29	(3.97)	(.84)
Distributions from net investment income	(.01)	(.08)	(.08)	-
Distributions from net realized gain	(.22)	-	-	-
Total distributions	(.23)	(.08)	(.08)	-
Redemption fees added to paid in capital D	- I	- I	.01	- I
Net asset value, end of period	$ 7.84	$ 8.33	$ 5.12	$ 9.16
Total Return B, C	(3.50)%	64.37%	(43.40)%	(8.40)%
Ratios to Average Net Assets E, H
Expenses before reductions	.60% A	.60%	.60%	.60% A
Expenses net of fee waivers, if any	.60% A	.60%	.60%	.60% A
Expenses net of all reductions	.60% A	.60%	.60%	.60% A
Net investment income (loss)	1.21% A	1.21%	1.39%	1.25% A
Supplemental Data
Net assets, end of period (000 omitted)	$ 35,670	$ 33,617	$ 14,235	$ 5,967
Portfolio turnover rate F	56% A	80% J	58% J	16% A

^A Annualized

^B Total returns for periods of less than one year are not annualized.

^C Total returns would have been lower had certain expenses not been reduced during the periods shown.

^D Calculated based on average shares outstanding during the period.

^E Fees and expenses of the underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.

^F Amount does not include the portfolio activity of any underlying Fidelity Central Funds.

^G For the period December 20, 2007 (commencement of operations) to February 29, 2008.

^H Expense ratios reflect operating expenses of the Fund. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the Fund during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the Fund.

^I Amount represents less than $.01 per share.

^J Reflects adjustments to exclude transactions in money market mutual funds.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

Fidelity Small Cap Enhanced Index Fund

Investment Changes (Unaudited)

Top Ten Stocks as of August 31, 2010
	% of fund's net assets	% of fund's net assets 6 months ago
Newpark Resources, Inc.	0.8	0.4
Skyworks Solutions, Inc.	0.8	0.8
RF Micro Devices, Inc.	0.7	0.2
Complete Production Services, Inc.	0.7	0.6
Omega Healthcare Investors, Inc.	0.7	0.6
Golden Star Resources Ltd. Cda	0.7	0.0
Domtar Corp.	0.7	0.5
Fossil, Inc.	0.7	0.5
Jack Henry & Associates, Inc.	0.6	0.7
Nelnet, Inc. Class A	0.6	0.5
	7.0
Market Sectors as of August 31, 2010
	% of fund's net assets	% of fund's net assets 6 months ago
Information Technology	19.2	19.3
Financials	18.8	18.3
Industrials	14.4	14.7
Consumer Discretionary	13.4	15.6
Health Care	11.3	13.3
Materials	6.6	5.2
Energy	6.4	4.8
Consumer Staples	4.4	4.2
Utilities	2.1	1.9
Telecommunication Services	0.6	0.4

Semiannual Report

Fidelity Small Cap Enhanced Index Fund

Investments August 31, 2010 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 97.2%
	Shares		Value
CONSUMER DISCRETIONARY - 13.4%
Auto Components - 0.8%
Amerigon, Inc. (a)	5,000		$ 51,700
Cooper Tire & Rubber Co.	24,559		397,610
Dana Holding Corp. (a)	20,000		205,200
Superior Industries International, Inc.	3,094		45,111
			699,621
Diversified Consumer Services - 0.4%
DeVry, Inc.	3,819		145,542
Regis Corp.	5,440		91,229
Strayer Education, Inc. (e)	715		103,518
			340,289
Hotels, Restaurants & Leisure - 1.7%
AFC Enterprises, Inc. (a)	11,000		118,250
Bob Evans Farms, Inc.	10,798		275,889
Cracker Barrel Old Country Store, Inc.	8,153		363,705
Domino's Pizza, Inc. (a)	17,365		222,619
Papa John's International, Inc. (a)	12,418		295,673
Ruth's Hospitality Group, Inc. (a)	27,659		90,445
Shuffle Master, Inc. (a)	20,000		159,000
			1,525,581
Household Durables - 1.9%
American Greetings Corp. Class A	18,729		361,470
Beazer Homes USA, Inc. (a)(e)	34,403		119,034
M/I Homes, Inc. (a)	9,417		88,802
Meritage Homes Corp. (a)	12,787		228,376
Ryland Group, Inc.	8,205		132,183
Standard Pacific Corp. (a)	84,904		296,315
Tempur-Pedic International, Inc. (a)(e)	8,470		226,996
Tupperware Brands Corp.	5,800		228,172
			1,681,348
Internet & Catalog Retail - 0.3%
Netflix, Inc. (a)	800		100,416
Shutterfly, Inc. (a)	7,880		175,172
			275,588
Leisure Equipment & Products - 0.5%
Polaris Industries, Inc. (e)	8,607		459,011
Media - 1.6%
Cinemark Holdings, Inc.	7,901		115,434
Global Sources Ltd. (a)(e)	64,050		447,710
Journal Communications, Inc. Class A (a)	17,531		69,423
National CineMedia, Inc.	20,175		320,581
Valassis Communications, Inc. (a)	14,741		432,059
			1,385,207
Multiline Retail - 0.4%
Dillard's, Inc. Class A (e)	15,949		348,805
Specialty Retail - 2.8%
Aeropostale, Inc. (a)	11,997		255,536
Finish Line, Inc. Class A	29,550		390,060
J. Crew Group, Inc. (a)	4,700		143,303
	Shares		Value
Jo-Ann Stores, Inc. (a)	14,006		$ 569,484
Rent-A-Center, Inc.	24,848		498,948
The Cato Corp. Class A (sub. vtg.)	16,738		384,137
Tractor Supply Co.	3,393		230,656
			2,472,124
Textiles, Apparel & Luxury Goods - 3.0%
Carter's, Inc. (a)	5,283		118,022
Crocs, Inc. (a)	16,000		200,000
Fossil, Inc. (a)	12,797		607,730
Jones Apparel Group, Inc.	30,276		465,645
Maidenform Brands, Inc. (a)	16,748		446,669
Oxford Industries, Inc.	20,254		399,409
Warnaco Group, Inc. (a)	4,183		175,184
Wolverine World Wide, Inc.	7,000		176,890
			2,589,549
TOTAL CONSUMER DISCRETIONARY			11,777,123
CONSUMER STAPLES - 4.4%
Food & Staples Retailing - 1.6%
Andersons, Inc.	14,685		526,164
Casey's General Stores, Inc. (e)	10,065		378,645
Nash-Finch Co.	13,105		514,633
			1,419,442
Food Products - 1.7%
Darling International, Inc. (a)	21,449		161,296
Lancaster Colony Corp.	9,321		424,758
Sanderson Farms, Inc.	10,073		433,240
TreeHouse Foods, Inc. (a)	11,060		458,990
			1,478,284
Personal Products - 0.8%
Inter Parfums, Inc.	5,000		82,100
Nu Skin Enterprises, Inc. Class A	7,000		178,990
Prestige Brands Holdings, Inc. (a)	46,009		340,467
USANA Health Sciences, Inc. (a)	3,000		127,500
			729,057
Tobacco - 0.3%
Alliance One International, Inc. (a)	15,000		52,500
Universal Corp.	5,759		205,366
			257,866
TOTAL CONSUMER STAPLES			3,884,649
ENERGY - 6.4%
Energy Equipment & Services - 3.2%
Cal Dive International, Inc. (a)	40,344		184,372
Carbo Ceramics, Inc.	796		60,281
Complete Production Services, Inc. (a)	35,581		627,649
ION Geophysical Corp. (a)	79,157		270,717
Lufkin Industries, Inc.	8,000		309,280
Newpark Resources, Inc. (a)	83,841		731,932
OYO Geospace Corp. (a)	8,276		407,593
Common Stocks - continued
	Shares		Value
ENERGY - continued
Energy Equipment & Services - continued
Pioneer Drilling Co. (a)	11,190		$ 60,874
Tesco Corp. (a)	20,000		198,400
			2,851,098
Oil, Gas & Consumable Fuels - 3.2%
Alon USA Energy, Inc. (e)	6,979		37,826
Bill Barrett Corp. (a)	13,105		426,699
Cloud Peak Energy, Inc.	30,311		479,520
Petroquest Energy, Inc. (a)	77,981		466,326
Ship Finance International Ltd. (NY Shares)	12,641		221,344
Stone Energy Corp. (a)	15,871		179,501
Teekay Tankers Ltd.	10,000		115,500
Vaalco Energy, Inc.	52,934		301,194
World Fuel Services Corp.	21,481		548,625
			2,776,535
TOTAL ENERGY			5,627,633
FINANCIALS - 18.8%
Capital Markets - 0.9%
Gleacher & Co., Inc. (a)	99,480		167,126
Knight Capital Group, Inc. Class A (a)(e)	8,141		96,715
PennantPark Investment Corp.	7,187		71,008
Prospect Capital Corp.	11,000		100,980
Stifel Financial Corp. (a)	4,295		185,888
TICC Capital Corp.	12,993		119,016
			740,733
Commercial Banks - 6.5%
Alliance Financial Corp. (e)	3,782		107,522
Bank of the Ozarks, Inc. (e)	14,505		532,914
Cardinal Financial Corp.	3,013		27,659
Community Bank System, Inc.	23,068		520,875
CVB Financial Corp. (e)	31,039		211,996
East West Bancorp, Inc.	6,000		87,720
Financial Institutions, Inc.	5,891		84,595
First Financial Bancorp, Ohio	28,885		460,716
First Financial Bankshares, Inc. (e)	1,228		54,855
IBERIABANK Corp.	6,291		306,686
International Bancshares Corp.	24,723		385,679
Merchants Bancshares, Inc.	20,220		472,946
NBT Bancorp, Inc.	2,800		57,176
Prosperity Bancshares, Inc. (e)	16,977		482,996
Renasant Corp. (e)	8,779		117,726
Republic Bancorp, Inc., Kentucky Class A	10,000		194,200
S&T Bancorp, Inc.	9,200		156,124
Signature Bank, New York (a)	5,604		204,770
Tompkins Financial Corp.	3,300		121,242
Trustmark Corp.	4,342		82,802
UMB Financial Corp.	7,175		228,739
Washington Trust Bancorp, Inc.	9,273		167,749
	Shares		Value
WesBanco, Inc.	14,333		$ 218,578
Westamerica Bancorp.	6,732		341,178
Wilshire Bancorp, Inc. (e)	16,749		103,844
			5,731,287
Consumer Finance - 1.3%
EZCORP, Inc. (non-vtg.) Class A (a)	6,156		110,685
Nelnet, Inc. Class A	26,369		577,745
World Acceptance Corp. (a)(e)	12,033		490,345
			1,178,775
Diversified Financial Services - 0.8%
Encore Capital Group, Inc. (a)	15,321		303,509
MarketAxess Holdings, Inc.	7,845		119,950
NewStar Financial, Inc. (a)	45,870		307,788
			731,247
Insurance - 1.5%
Aspen Insurance Holdings Ltd.	12,344		350,570
FBL Financial Group, Inc. Class A	16,412		377,476
First Mercury Financial Corp.	12,641		115,160
Flagstone Reinsurance Holdings Ltd.	16,048		161,603
Platinum Underwriters Holdings Ltd.	4,881		196,265
SeaBright Insurance Holdings, Inc.	20,141		142,397
			1,343,471
Real Estate Investment Trusts - 7.0%
Anworth Mortgage Asset Corp.	11,842		80,644
Ashford Hospitality Trust, Inc. (a)(e)	12,996		104,358
BioMed Realty Trust, Inc.	17,000		290,530
CapLease, Inc.	13,593		69,868
Chesapeake Lodging Trust (a)	26,350		431,613
Colonial Properties Trust (SBI)	10,232		162,280
Crexus Investment Corp.	9,465		112,917
Extra Space Storage, Inc.	16,000		244,640
First Industrial Realty Trust, Inc. (a)(e)	60,355		256,509
Healthcare Realty Trust, Inc.	9,490		222,161
Highwoods Properties, Inc. (SBI)	6,212		194,311
Home Properties, Inc.	1,228		62,014
LaSalle Hotel Properties (SBI)	5,500		115,885
MFA Financial, Inc.	9,800		72,226
Mid-America Apartment Communities, Inc.	7,470		421,831
Mission West Properties, Inc.	13,873		92,117
National Health Investors, Inc.	8,070		338,294
National Retail Properties, Inc.	17,784		433,218
Nationwide Health Properties, Inc.	9,790		376,621
Omega Healthcare Investors, Inc.	29,203		626,404
Parkway Properties, Inc.	3,500		51,170
PS Business Parks, Inc.	9,372		527,362
RAIT Financial Trust (SBI) (a)	156,196		210,865
Redwood Trust, Inc.	9,624		132,907
Saul Centers, Inc.	10,523		435,021
Washington (REIT) (SBI)	3,744		114,716
			6,180,482
Common Stocks - continued
	Shares		Value
FINANCIALS - continued
Thrifts & Mortgage Finance - 0.8%
Dime Community Bancshares, Inc.	12,900		$ 161,121
Flushing Financial Corp.	19,264		208,629
Meridian Interstate Bancorp, Inc. (a)	6,485		68,806
NASB Financial, Inc.	1,651		22,222
Provident New York Bancorp	16,309		131,614
United Financial Bancorp, Inc.	7,000		94,220
			686,612
TOTAL FINANCIALS			16,592,607
HEALTH CARE - 11.3%
Biotechnology - 2.6%
Acorda Therapeutics, Inc. (a)	2,056		61,927
Alkermes, Inc. (a)	4,938		65,478
Alnylam Pharmaceuticals, Inc. (a)	743		10,179
ArQule, Inc. (a)	15,016		78,384
Celldex Therapeutics, Inc. (a)(e)	17,224		74,580
Cepheid, Inc. (a)	2,748		40,423
Cubist Pharmaceuticals, Inc. (a)	11,374		250,569
Exelixis, Inc. (a)	68,276		202,097
Human Genome Sciences, Inc. (a)	12,157		353,647
Incyte Corp. (a)(e)	4,180		52,334
InterMune, Inc. (a)	2,012		20,965
Isis Pharmaceuticals, Inc. (a)	3,389		26,570
Martek Biosciences (a)	3,416		74,537
Medivation, Inc. (a)	7,629		72,743
Nabi Biopharmaceuticals (a)	14,104		68,404
ONYX Pharmaceuticals, Inc. (a)	4,008		96,553
Osiris Therapeutics, Inc. (a)(e)	29,101		190,030
PDL BioPharma, Inc.	4,334		24,530
Regeneron Pharmaceuticals, Inc. (a)	3,857		84,777
SciClone Pharmaceuticals, Inc. (a)	44,438		107,096
Seattle Genetics, Inc. (a)	8,186		93,730
Theravance, Inc. (a)	1,227		14,834
Vanda Pharmaceuticals, Inc. (a)	22,336		140,047
Zymogenetics, Inc. (a)(e)	26,160		130,800
			2,335,234
Health Care Equipment & Supplies - 3.7%
American Medical Systems Holdings, Inc. (a)(e)	28,498		519,234
Cantel Medical Corp.	14,559		209,213
Haemonetics Corp. (a)	2,572		133,950
Invacare Corp.	21,446		491,113
Kensey Nash Corp. (a)	9,155		242,791
Quidel Corp. (a)(e)	15,766		190,611
Sirona Dental Systems, Inc. (a)	16,593		523,011
Steris Corp.	14,567		419,093
Symmetry Medical, Inc. (a)	10,692		96,121
	Shares		Value
Thoratec Corp. (a)	5,129		$ 165,154
Young Innovations, Inc.	10,246		268,753
			3,259,044
Health Care Providers & Services - 3.1%
Amedisys, Inc. (a)(e)	9,351		216,195
American Dental Partners, Inc. (a)	8,820		94,198
AMN Healthcare Services, Inc. (a)	14,255		63,435
AmSurg Corp. (a)	11,203		186,754
Chemed Corp.	2,300		114,770
Chindex International, Inc. (a)	13,000		168,740
Continucare Corp. (a)	31,618		102,759
Cross Country Healthcare, Inc. (a)	8,704		64,497
Emergency Medical Services Corp. Class A (a)	5,768		277,152
Genoptix, Inc. (a)	8,368		144,013
Hanger Orthopedic Group, Inc. (a)	11,619		151,628
Healthspring, Inc. (a)	12,654		262,697
Magellan Health Services, Inc. (a)	3,303		144,704
Owens & Minor, Inc.	11,775		313,922
PharMerica Corp. (a)	16,201		125,720
Providence Service Corp. (a)	13,611		184,021
PSS World Medical, Inc. (a)	5,000		91,800
			2,707,005
Life Sciences Tools & Services - 0.2%
Affymetrix, Inc. (a)	11,665		47,943
Dionex Corp. (a)	577		41,833
Kendle International, Inc. (a)	5,787		45,312
			135,088
Pharmaceuticals - 1.7%
Caraco Pharmaceutical Laboratories Ltd. (a)	9,789		53,742
Medicis Pharmaceutical Corp. Class A	12,957		356,318
Nektar Therapeutics (a)	9,705		124,321
Par Pharmaceutical Companies, Inc. (a)	4,902		129,266
Salix Pharmaceuticals Ltd. (a)	2,010		76,099
Santarus, Inc. (a)	15,000		34,050
SuperGen, Inc. (a)	75,842		151,684
Valeant Pharmaceuticals International (a)	9,107		525,383
ViroPharma, Inc. (a)	4,054		50,837
			1,501,700
TOTAL HEALTH CARE			9,938,071
INDUSTRIALS - 14.4%
Aerospace & Defense - 1.0%
AAR Corp. (a)	17,237		264,760
American Science & Engineering, Inc.	1,500		106,455
Ceradyne, Inc. (a)	7,000		152,880
Cubic Corp.	9,432		360,208
			884,303
Common Stocks - continued
	Shares		Value
INDUSTRIALS - continued
Air Freight & Logistics - 0.9%
Atlas Air Worldwide Holdings, Inc. (a)	10,500		$ 455,070
Hub Group, Inc. Class A (a)	11,000		292,380
			747,450
Airlines - 0.6%
Allegiant Travel Co.	9,983		375,660
UAL Corp. (a)	7,750		164,223
			539,883
Building Products - 0.6%
A.O. Smith Corp.	6,679		342,967
Ameron International Corp.	1,000		56,360
Gibraltar Industries, Inc. (a)	16,721		127,080
			526,407
Commercial Services & Supplies - 2.0%
American Reprographics Co. (a)	5,937		39,184
ATC Technology Corp. (a)	6,237		150,499
Cenveo, Inc. (a)	21,620		118,694
Consolidated Graphics, Inc. (a)	10,416		413,619
HNI Corp.	7,000		163,590
M&F Worldwide Corp. (a)	8,272		191,910
Schawk, Inc. Class A	15,657		237,986
Tetra Tech, Inc. (a)	15,392		279,365
The Brink's Co.	8,000		150,960
			1,745,807
Construction & Engineering - 0.8%
Comfort Systems USA, Inc.	24,540		255,952
Dycom Industries, Inc. (a)	19,905		160,036
EMCOR Group, Inc. (a)	12,956		294,619
			710,607
Electrical Equipment - 2.6%
AZZ, Inc.	10,110		403,793
Belden, Inc.	11,368		248,959
Brady Corp. Class A	5,333		137,378
Encore Wire Corp.	755		13,809
EnerSys (a)	10,046		221,715
Franklin Electric Co., Inc.	10,000		316,700
GrafTech International Ltd. (a)	12,460		175,188
Lihua International, Inc.	11,000		87,120
Polypore International, Inc. (a)	7,000		189,140
Regal-Beloit Corp.	9,165		507,008
			2,300,810
Industrial Conglomerates - 0.2%
Raven Industries, Inc.	5,600		188,776
Machinery - 3.7%
Actuant Corp. Class A	9,008		178,539
ArvinMeritor, Inc. (a)(e)	15,000		196,050
Barnes Group, Inc.	5,000		76,050
Briggs & Stratton Corp.	26,280		476,982
Graham Corp.	3,000		42,510
Kadant, Inc. (a)	10,000		170,400
	Shares		Value
Lindsay Corp.	13,496		$ 497,598
Nordson Corp.	7,438		477,296
Robbins & Myers, Inc.	15,000		354,900
Tennant Co.	11,914		372,193
Thermadyne Holdings Corp. (a)	15,000		165,450
Watts Water Technologies, Inc. Class A	9,431		283,307
			3,291,275
Professional Services - 0.9%
Kelly Services, Inc. Class A (non-vtg.) (a)	19,291		201,398
SFN Group, Inc. (a)	44,281		240,889
Towers Watson & Co.	8,656		388,654
			830,941
Road & Rail - 0.5%
Dollar Thrifty Automotive Group, Inc. (a)	3,683		173,248
Werner Enterprises, Inc.	13,496		269,110
			442,358
Trading Companies & Distributors - 0.6%
Aircastle Ltd.	4,644		36,270
TAL International Group, Inc.	22,168		472,622
			508,892
TOTAL INDUSTRIALS			12,717,509
INFORMATION TECHNOLOGY - 19.2%
Communications Equipment - 3.4%
Arris Group, Inc. (a)	30,642		250,345
Aviat Networks, Inc. (a)	58,891		232,031
Bel Fuse, Inc. Class B (non-vtg.)	5,000		92,650
Blue Coat Systems, Inc. (a)	14,443		271,962
InterDigital, Inc. (a)	21,559		532,938
Oplink Communications, Inc. (a)	30,417		478,155
Plantronics, Inc.	11,761		321,193
Polycom, Inc. (a)	2,625		74,760
Powerwave Technologies, Inc. (a)(e)	269,652		458,408
Tekelec (a)	21,602		236,758
			2,949,200
Computers & Peripherals - 0.9%
Cray, Inc. (a)	19,095		102,922
Hutchinson Technology, Inc. (a)(e)	45,609		130,898
Rimage Corp. (a)	7,023		107,452
Synaptics, Inc. (a)(e)	16,480		435,402
			776,674
Electronic Equipment & Components - 2.6%
Anixter International, Inc. (a)	7,200		330,336
Benchmark Electronics, Inc. (a)	27,199		381,602
Checkpoint Systems, Inc. (a)	10,633		195,009
CPI International, Inc. (a)	5,721		80,723
CTS Corp.	10,159		81,678
Insight Enterprises, Inc. (a)	10,231		134,435
Measurement Specialties, Inc. (a)	10,000		148,200
Multi-Fineline Electronix, Inc. (a)	6,000		125,040
OSI Systems, Inc. (a)	10,160		300,533
Common Stocks - continued
	Shares		Value
INFORMATION TECHNOLOGY - continued
Electronic Equipment & Components - continued
Technitrol, Inc.	120,867		$ 448,417
TTM Technologies, Inc. (a)	8,136		67,203
			2,293,176
Internet Software & Services - 1.5%
Digital River, Inc. (a)	3,633		95,802
EarthLink, Inc.	39,952		341,989
j2 Global Communications, Inc. (a)	12,467		268,913
Mercadolibre, Inc. (a)	4,000		263,760
ValueClick, Inc. (a)	31,958		348,342
			1,318,806
IT Services - 2.4%
Acxiom Corp. (a)	29,307		363,260
CACI International, Inc. Class A (a)	6,623		270,285
CSG Systems International, Inc. (a)	12,761		233,526
Diamond Management & Technology Consultants, Inc.	21,244		265,338
Maximus, Inc.	2,200		118,162
SAIC, Inc. (a)(e)	11,512		171,299
Teletech Holdings, Inc. (a)	16,412		208,104
Unisys Corp. (a)	3,600		80,496
VeriFone Holdings, Inc. (a)	14,578		352,496
Wright Express Corp. (a)	2,294		73,660
			2,136,626
Semiconductors & Semiconductor Equipment - 5.7%
Amkor Technology, Inc. (a)(e)	15,093		76,522
Atheros Communications, Inc. (a)	17,939		442,376
Diodes, Inc. (a)	9,494		140,037
DSP Group, Inc. (a)	41,030		276,132
GT Solar International, Inc. (a)	70,000		541,100
Lattice Semiconductor Corp. (a)	127,407		528,739
Monolithic Power Systems, Inc. (a)	7,704		126,423
Omnivision Technologies, Inc. (a)	10,000		205,000
PMC-Sierra, Inc. (a)	56,777		392,897
RF Micro Devices, Inc. (a)	131,761		642,994
Semtech Corp. (a)	5,725		95,006
Sigma Designs, Inc. (a)(e)	30,132		286,254
Skyworks Solutions, Inc. (a)	38,348		684,895
Tessera Technologies, Inc. (a)	3,991		60,663
Veeco Instruments, Inc. (a)(e)	15,554		516,859
			5,015,897
Software - 2.7%
AsiaInfo Holdings, Inc. (a)(e)	4,000		71,440
Informatica Corp. (a)	8,021		257,955
Jack Henry & Associates, Inc.	25,151		592,055
Lawson Software, Inc. (a)	26,317		200,009
Manhattan Associates, Inc. (a)	10,243		266,779
Monotype Imaging Holdings, Inc. (a)	12,580		93,029
Net 1 UEPS Technologies, Inc. (a)	21,011		241,837
Quest Software, Inc. (a)	20,155		431,922
	Shares		Value
Renaissance Learning, Inc.	9,020		$ 72,160
TIBCO Software, Inc. (a)	11,764		170,460
			2,397,646
TOTAL INFORMATION TECHNOLOGY			16,888,025
MATERIALS - 6.6%
Chemicals - 2.7%
H.B. Fuller Co.	14,694		279,039
Innophos Holdings, Inc.	19,457		567,561
OM Group, Inc. (a)	11,197		286,643
OMNOVA Solutions, Inc. (a)	63,921		389,918
PolyOne Corp. (a)	19,676		191,841
Sensient Technologies Corp.	5,447		151,045
ShengdaTech, Inc. (a)(e)	25,000		111,000
Solutia, Inc. (a)	2,000		27,080
W.R. Grace & Co. (a)	6,587		166,651
Westlake Chemical Corp.	6,931		179,652
			2,350,430
Containers & Packaging - 1.3%
Boise, Inc. (a)	35,227		242,362
Rock-Tenn Co. Class A (e)	9,950		479,391
Silgan Holdings, Inc.	14,394		430,237
			1,151,990
Metals & Mining - 1.3%
Golden Star Resources Ltd. (a)	131,985		620,159
Hecla Mining Co. (a)(e)	30,000		171,600
Worthington Industries, Inc.	23,790		338,294
			1,130,053
Paper & Forest Products - 1.3%
Buckeye Technologies, Inc.	27,733		329,468
Domtar Corp.	10,256		615,565
Glatfelter	23,888		244,374
			1,189,407
TOTAL MATERIALS			5,821,880
TELECOMMUNICATION SERVICES - 0.6%
Diversified Telecommunication Services - 0.3%
Consolidated Communications Holdings, Inc.	16,307		282,763
Wireless Telecommunication Services - 0.3%
USA Mobility, Inc.	19,990		287,056
TOTAL TELECOMMUNICATION SERVICES			569,819
UTILITIES - 2.1%
Electric Utilities - 0.6%
Central Vermont Public Service Corp.	5,000		99,150
IDACORP, Inc.	1,426		49,996
Portland General Electric Co.	6,500		129,870
UIL Holdings Corp.	9,500		251,655
			530,671
Common Stocks - continued
	Shares		Value
UTILITIES - continued
Gas Utilities - 1.0%
Chesapeake Utilities Corp.	4,300		$ 148,092
New Jersey Resources Corp.	3,740		139,165
Nicor, Inc.	2,131		90,120
Northwest Natural Gas Co.	2,245		102,013
Piedmont Natural Gas Co., Inc. (e)	6,200		169,136
Southwest Gas Corp.	6,692		210,463
			858,989
Independent Power Producers & Energy Traders - 0.3%
Black Hills Corp.	9,228		280,808
Multi-Utilities - 0.2%
Avista Corp.	7,044		147,008
TOTAL UTILITIES			1,817,476
TOTAL COMMON STOCKS (Cost $83,355,269)		85,634,792
Investment Companies - 0.5%
Ares Capital Corp. (Cost $442,388)	33,522		500,819

U.S. Treasury Obligations - 0.5%
	Principal Amount
U.S. Treasury Bills, yield at date of purchase 0.25% to 0.41% 11/18/10 to 12/16/10 (f) (Cost $449,643)	$ 450,000	449,856

Money Market Funds - 10.0%
	Shares
Dreyfus Cash Management Institutional Shares, 0.10% (c)	1,436,705		1,436,705
Fidelity Securities Lending Cash Central Fund, 0.27% (b)(d)	7,350,091		7,350,091
TOTAL MONEY MARKET FUNDS (Cost $8,786,789)		8,786,796
TOTAL INVESTMENT PORTFOLIO - 108.2% (Cost $93,034,089)			95,372,263
NET OTHER ASSETS (LIABILITIES) - (8.2)%			(7,251,604)
NET ASSETS - 100%		$ 88,120,659

Futures Contracts
	Expiration Date	Underlying Face Amount at Value	Unrealized Appreciation/ (Depreciation)
Purchased
Equity Index Contracts
33 NYFE Russell 2000 Mini Index Contracts	Sept. 2010	$ 1,985,280	$ (14,658)

The face value of futures purchased as a percentage of net assets is 2.3%

Legend

(a) Non-income producing

(b) Affiliated fund that is available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request.

(c) The rate quoted is the annualized seven-day yield of the fund at period end.

(d) Investment made with cash collateral received from securities on loan.

(e) Security or a portion of the security is on loan at period end.

(f) Security or a portion of the security was pledged to cover margin requirements for futures contracts. At the period end, the value of securities pledged amounted to $449,856.

Affiliated Central Funds

Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:

Fund	Income earned
Fidelity Securities Lending Cash Central Fund	$ 54,383

Other Information

The following is a summary of the inputs used, as of August 31, 2010, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the table below, please refer to the Security Valuation section in the accompanying Notes to Financial Statements.

Valuation Inputs at Reporting Date:
Description	Total	Level 1	Level 2	Level 3
Investments in Securities:
Equities:
Consumer Discretionary	$ 11,777,123	$ 11,777,123	$ -	$ -
Consumer Staples	3,884,649	3,884,649	-	-
Energy	5,627,633	5,627,633	-	-
Financials	16,592,607	16,592,607	-	-
Health Care	9,938,071	9,938,071	-	-
Industrials	12,717,509	12,717,509	-	-
Information Technology	16,888,025	16,888,025	-	-
Materials	5,821,880	5,821,880	-	-
Telecommunication Services	569,819	569,819	-	-
Utilities	1,817,476	1,817,476	-	-
Investment Companies	500,819	500,819	-	-
U.S. Government and Government Agency Obligations	449,856	-	449,856	-
Money Market Funds	8,786,796	8,786,796	-	-
Total Investments in Securities:	$ 95,372,263	$ 94,922,407	$ 449,856	$ -
Derivative Instruments:
Liabilities
Futures Contracts	$ (14,658)	$ (14,658)	$ -	$ -

Value of Derivative Instruments

The following table is a summary of the Fund's value of derivative instruments by risk exposure as of August 31, 2010. For additional information on derivative instruments, please refer to the Derivative Instruments section in the accompanying Notes to Financial Statements.

Risk Exposure / Derivative Type	Value
	Asset	Liability
Equity Risk
Futures Contracts (a)	$ -	$ (14,658)
Total Value of Derivatives	$ -	$ (14,658)

(a) Reflects cumulative appreciation/(depreciation) on futures contracts as disclosed on the Schedule of Investments. Only the period end variation margin is separately disclosed on the Statement of Assets and Liabilities.

Income Tax Information

At February 28, 2010, the Fund had a capital loss carryforward of approximately $8,024,743 of which $480,659 and $7,544,084 will expire on February 28, 2017 and 2018, respectively. Capital loss carryforwards are only available to offset future capital gains of the Fund to the extent provided by regulations and may be limited.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

Fidelity Small Cap Enhanced Index Fund

Financial Statements

Statement of Assets and Liabilities

	August 31, 2010 (Unaudited)
Assets
Investment in securities, at value (including securities loaned of $7,059,666) - See accompanying schedule: Unaffiliated issuers (cost $85,683,998)	$ 88,022,172
Fidelity Central Funds (cost $7,350,091)	7,350,091
Total Investments (cost $93,034,089)		$ 95,372,263
Foreign currency held at value (cost $12,409)		12,086
Receivable for fund shares sold		234,154
Dividends receivable		70,690
Interest receivable		170
Distributions receivable from Fidelity Central Funds		5,981
Receivable for daily variation on futures contracts		2,637
Total assets		95,697,981
Liabilities
Payable for fund shares redeemed	176,050
Accrued management fee	39,722
Other affiliated payables	11,459
Collateral on securities loaned, at value	7,350,091
Total liabilities		7,577,322
Net Assets		$ 88,120,659
Net Assets consist of:
Paid in capital		$ 91,620,230
Undistributed net investment income		285,579
Accumulated undistributed net realized gain (loss) on investments and foreign currency transactions		(6,108,344)
Net unrealized appreciation (depreciation) on investments and assets and liabilities in foreign currencies		2,323,194
Net Assets, for 11,246,108 shares outstanding		$ 88,120,659
Net Asset Value, offering price and redemption price per share ($88,120,659 ÷ 11,246,108 shares)		$ 7.84

Statement of Operations

Six months ended August 31, 2010 (Unaudited)
Investment Income
Dividends		$ 574,572
Interest		2,924
Income from Fidelity Central Funds (including $54,383 from security lending)		54,383
Total income		631,879
Expenses
Management fee	$ 247,046
Transfer agent fees	71,508
Independent trustees' compensation	848
Miscellaneous	110
Total expenses before reductions	319,512
Expense reductions	(4)	319,508
Net investment income (loss)		312,371
Realized and Unrealized Gain (Loss) Net realized gain (loss) on:
Investment securities:
Unaffiliated issuers	2,653,549
Foreign currency transactions	5,564
Futures contracts	(261,221)
Total net realized gain (loss)		2,397,892
Change in net unrealized appreciation (depreciation) on: Investment securities	(5,595,680)
Assets and liabilities in foreign currencies	(323)
Futures contracts	(87,380)
Total change in net unrealized appreciation (depreciation)		(5,683,383)
Net gain (loss)		(3,285,491)
Net increase (decrease) in net assets resulting from operations		$ (2,973,120)

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

Statement of Changes in Net Assets

	Six months ended August 31, 2010 (Unaudited)	Year ended February 28, 2010
Increase (Decrease) in Net Assets
Operations
Net investment income (loss)	$ 312,371	$ 563,933
Net realized gain (loss)	2,397,892	(3,276,533)
Change in net unrealized appreciation (depreciation)	(5,683,383)	33,214,854
Net increase (decrease) in net assets resulting from operations	(2,973,120)	30,502,254
Distributions to shareholders from net investment income	(55,945)	(554,929)
Share transactions Proceeds from sales of shares	22,647,100	39,570,131
Reinvestment of distributions	53,583	525,603
Cost of shares redeemed	(16,808,728)	(42,285,209)
Net increase (decrease) in net assets resulting from share transactions	5,891,955	(2,189,475)
Redemption fees	14,966	41,898
Total increase (decrease) in net assets	2,877,856	27,799,748
Net Assets
Beginning of period	85,242,803	57,443,055
End of period (including undistributed net investment income of $285,579 and undistributed net investment income of $29,153, respectively)	$ 88,120,659	$ 85,242,803
Other Information Shares
Sold	2,637,161	5,764,326
Issued in reinvestment of distributions	5,901	69,527
Redeemed	(1,979,917)	(6,294,661)
Net increase (decrease)	663,145	(460,808)

Financial Highlights

	Six months ended August 31, 2010	Years ended February 28,
	(Unaudited)	2010	2009	2008 G
Selected Per-Share Data
Net asset value, beginning of period	$ 8.05	$ 5.20	$ 9.03	$ 10.00
Income from Investment Operations
Net investment income (loss) D	.03	.05	.09	.02
Net realized and unrealized gain (loss)	(.23)	2.86	(3.87)	(.99)
Total from investment operations	(.20)	2.91	(3.78)	(.97)
Distributions from net investment income	(.01)	(.06)	(.06)	-
Redemption fees added to paid in capital D	- I	- I	.01	- I
Net asset value, end of period	$ 7.84	$ 8.05	$ 5.20	$ 9.03
Total Return B, C	(2.56)%	55.93%	(41.94)%	(9.70)%
Ratios to Average Net Assets E, H
Expenses before reductions	.67% A	.67%	.67%	.67% A
Expenses net of fee waivers, if any	.67% A	.67%	.67%	.67% A
Expenses net of all reductions	.67% A	.67%	.67%	.67% A
Net investment income (loss)	.66% A	.77%	1.29%	1.19% A
Supplemental Data
Net assets, end of period (000 omitted)	$ 88,121	$ 85,243	$ 57,443	$ 6,343
Portfolio turnover rate F	56% A	98% J	36% J	16%

^A Annualized

^B Total returns for periods of less than one year are not annualized.

^C Total returns would have been lower had certain expenses not been reduced during the periods shown.

^D Calculated based on average shares outstanding during the period.

^E Fees and expenses of the underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.

^F Amount does not include the portfolio activity of any underlying Fidelity Central Funds.

^G For the period December 20, 2007 (commencement of operations) to February 29, 2008.

^H Expense ratios reflect operating expenses of the Fund. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the Fund during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the Fund.

^I Amount represents less than $.01 per share.

^J Reflects adjustments to exclude transactions in money market mutual funds.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

Fidelity International Enhanced Index Fund

Investment Changes (Unaudited)

Geographic Diversification (% of fund's net assets)
As of August 31, 2010
	Japan	21.6%
	United Kingdom	19.9%
	Australia	9.3%
	France	8.3%
	Germany	7.9%
	Switzerland	7.4%
	United States of America	3.6%
	Hong Kong	2.8%
	Spain	2.6%
	Other	16.6%

Percentages are adjusted for the effect of futures contracts, if applicable.

As of February 28, 2010
	Japan	21.2%
	United Kingdom	18.6%
	France	9.0%
	Switzerland	7.8%
	Australia	7.8%
	Germany	6.7%
	United States of America	6.5%
	Spain	3.7%
	Italy	2.8%
	Other	15.9%

Percentages are adjusted for the effect of futures contracts, if applicable.

Asset Allocation
	% of fund's net assets	% of fund's net assets 6 months ago
Stocks and Equity Futures	99.3	99.9
Short-Term Investments and Net Other Assets	0.7	0.1
Top Ten Stocks as of August 31, 2010
	% of fund's net assets	% of fund's net assets 6 months ago
Nestle SA (Switzerland, Food Products)	2.3	1.9
HSBC Holdings PLC (United Kingdom) (United Kingdom, Commercial Banks)	1.7	1.6
Roche Holding AG (participation certificate) (Switzerland, Pharmaceuticals)	1.5	1.1
BHP Billiton Ltd. (Australia, Metals & Mining)	1.5	1.3
BP PLC (United Kingdom, Oil, Gas & Consumable Fuels)	1.4	1.7
GlaxoSmithKline PLC sponsored ADR (United Kingdom, Pharmaceuticals)	1.3	1.1
AstraZeneca PLC (United Kingdom) (United Kingdom, Pharmaceuticals)	1.1	0.8
Vodafone Group PLC (United Kingdom, Wireless Telecommunication Services)	1.1	1.1
Total SA (France, Oil, Gas & Consumable Fuels)	1.1	1.1
Commonwealth Bank of Australia (Australia, Commercial Banks)	1.1	1.0
	14.1
Market Sectors as of August 31, 2010
	% of fund's net assets	% of fund's net assets 6 months ago
Financials	22.7	22.7
Consumer Staples	11.4	10.1
Industrials	11.0	12.0
Consumer Discretionary	10.4	8.4
Materials	10.1	10.1
Health Care	9.6	8.4
Energy	7.1	7.5
Utilities	5.0	4.9
Telecommunication Services	4.9	5.3
Information Technology	4.2	4.1

Semiannual Report

Fidelity International Enhanced Index Fund

Investments August 31, 2010 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 96.4%
	Shares		Value
Australia - 9.3%
AGL Energy Ltd.	3,600		$ 48,124
ASX Ltd.	806		20,882
Australia & New Zealand Banking Group Ltd.	3,440		69,162
Bendigo & Adelaide Bank Ltd.	5,400		40,515
BHP Billiton Ltd.	8,640		286,753
Caltex Australia Ltd.	4,700		47,017
Coca-Cola Amatil Ltd.	2,647		28,105
Commonwealth Bank of Australia	4,690		209,957
Crown Ltd.	7,400		54,532
CSL Ltd.	2,370		69,523
DuluxGroup Ltd. (a)	2,500		5,785
Fortescue Metals Group Ltd. (a)	16,000		66,643
Fosters Group Ltd.	13,957		75,276
Incitec Pivot Ltd.	10,999		32,989
Insurance Australia Group Ltd.	18,100		55,415
MAp Group unit	8,600		22,656
Metcash Ltd.	13,213		51,625
National Australia Bank Ltd.	2,950		60,912
Orica Ltd.	2,500		55,736
QBE Insurance Group Ltd.	2,245		32,948
Rio Tinto Ltd.	2,090		130,374
Telstra Corp. Ltd.	22,400		54,824
Wesfarmers Ltd.	3,000		85,333
Westfield Group unit	6,049		67,349
Westpac Banking Corp.	4,051		78,237
Woolworths Ltd.	3,482		86,028
TOTAL AUSTRALIA			1,836,700
Austria - 0.5%
OMV AG	1,320		42,529
Telekom Austria AG	700		8,952
Voestalpine AG	1,800		53,431
TOTAL AUSTRIA			104,912
Bailiwick of Jersey - 0.9%
Experian PLC	8,980		85,608
Petrofac Ltd.	4,090		87,894
TOTAL BAILIWICK OF JERSEY			173,502
Belgium - 1.4%
Anheuser-Busch InBev SA NV	2,829		147,172
Delhaize Group SA	645		43,116
Mobistar SA	580		32,503
Umicore SA	1,638		56,947
TOTAL BELGIUM			279,738
Bermuda - 0.3%
Noble Group Ltd.	545		631
Yue Yuen Industrial (Holdings) Ltd.	15,500		50,811
TOTAL BERMUDA			51,442
	Shares		Value
Denmark - 1.1%
Coloplast AS Series B	687		$ 73,101
Novo Nordisk AS Series B	1,575		134,587
Novozymes AS Series B	45		5,286
TOTAL DENMARK			212,974
Finland - 2.1%
Fortum Corp.	3,400		78,301
KCI Konecranes Oyj	2,310		70,414
Kone Oyj (B Shares)	1,920		88,312
Nokia Corp.	8,713		74,256
Stora Enso Oyj (R Shares)	8,005		61,738
Wartsila Corp.	563		30,027
TOTAL FINLAND			403,048
France - 8.3%
AXA SA	2,102		32,676
BNP Paribas SA	1,600		100,118
Bouygues SA	702		28,503
Carrefour SA	844		38,328
Casino Guichard Perrachon et Compagnie	840		68,021
CNP Assurances	1,600		27,174
Compagnie de St. Gobain	1,858		68,387
Credit Agricole SA	5,300		66,805
Danone	370		19,886
Eutelsat Communications	1,830		65,802
France Telecom SA	5,170		105,106
GDF Suez	2,623		81,235
Gecina SA	595		59,335
Hermes International SA	399		72,317
L'Air Liquide SA	198		20,593
Legrand SA	1,200		36,449
LVMH Moet Hennessy - Louis Vuitton	85		9,887
PagesJaunes Groupe SA	4,270		40,585
Sanofi-Aventis	1,420		81,303
Schneider Electric SA	249		26,412
Societe Generale Series A	1,800		91,667
Technip SA	995		65,187
Total SA	4,620		214,931
Unibail-Rodamco	490		92,412
VINCI SA	1,400		61,440
Vivendi	2,340		54,601
TOTAL FRANCE			1,629,160
Germany - 7.9%
Allianz AG	1,110		113,872
BASF AG	3,210		169,393
Bayer AG	3,087		188,510
Daimler AG (Germany) (a)	2,028		98,600
Deutsche Bank AG	1,880		118,140
Deutsche Boerse AG	677		41,376
Deutsche Telekom AG	5,892		77,591
E.ON AG	3,722		104,751
Common Stocks - continued
	Shares		Value
Germany - continued
Infineon Technologies AG (a)	13,700		$ 76,419
Linde AG	865		97,465
Munich Re Group	189		24,146
Puma AG	95		25,791
RWE AG	196		12,838
SAP AG	1,560		68,125
Siemens AG	2,270		206,519
TUI AG (a)	3,740		37,714
Volkswagen AG	97		8,821
Wacker Chemie AG	525		79,650
TOTAL GERMANY			1,549,721
Greece - 0.1%
Coca-Cola Hellenic Bottling Co. SA	554		13,046
Public Power Corp. of Greece	710		10,097
TOTAL GREECE			23,143
Hong Kong - 2.8%
ASM Pacific Technology Ltd.	4,600		37,225
Bank of East Asia Ltd.	80		301
BOC Hong Kong (Holdings) Ltd.	37,000		97,270
Cheung Kong Holdings Ltd.	2,000		25,171
CLP Holdings Ltd.	10,000		76,553
Hang Seng Bank Ltd.	2,000		27,433
Henderson Land Development Co. Ltd.	4,000		24,476
Henderson Land Development Co. Ltd. warrants 6/1/11 (a)	800		108
Hong Kong Electric Holdings Ltd.	3,500		21,259
Hutchison Whampoa Ltd.	5,000		36,959
Hysan Development Co. Ltd.	5,000		15,844
Kerry Properties Ltd.	8,000		40,314
New World Development Co. Ltd.	21,000		33,691
Sun Hung Kai Properties Ltd.	4,495		62,985
Wheelock and Co. Ltd.	16,000		46,176
TOTAL HONG KONG			545,765
Ireland - 0.3%
CRH PLC	27		416
Kerry Group PLC Class A	680		22,335
Ryanair Holdings PLC	6,100		29,638
TOTAL IRELAND			52,389
Israel - 0.4%
Teva Pharmaceutical Industries Ltd.	1,700		86,127
Italy - 1.8%
Assicurazioni Generali SpA	1,101		19,913
Enel SpA	3,784		18,033
ENI SpA	5,321		105,149
EXOR SpA	1,500		27,624
Finmeccanica SpA	4,420		44,397
Intesa Sanpaolo SpA	20,964		58,854
Mediobanca SpA	3,747		29,492
Mediobanca SpA warrants 3/18/11 (a)	3,569		95
	Shares		Value
Telecom Italia SpA	19,506		$ 26,288
UniCredit SpA	9,662		22,680
TOTAL ITALY			352,525
Japan - 21.6%
Aeon Mall Co. Ltd.	1,800		41,262
Asahi Glass Co. Ltd.	4,000		39,038
Astellas Pharma, Inc.	2,200		76,013
Bank of Yokohama Ltd.	7,000		30,409
Canon, Inc.	2,000		81,871
Central Japan Railway Co.	11		88,765
Chiba Bank Ltd.	4,000		22,518
Chubu Electric Power Co., Inc.	4,200		110,624
Dai-ichi Mutual Life Insurance Co.	6		7,091
Daito Trust Construction Co. Ltd.	1,400		80,314
DeNA Co. Ltd.	2,200		65,932
Dentsu, Inc.	1,800		41,026
East Japan Railway Co.	1,700		110,069
Eisai Co. Ltd.	1,000		36,063
Electric Power Development Co. Ltd.	900		28,965
Elpida Memory, Inc. (a)	3,700		44,433
Fuji Heavy Industries Ltd. (a)	12,000		67,413
Fujifilm Holdings Corp.	2,000		60,700
Hino Motors Ltd.	12,000		52,845
Hitachi Ltd. (a)	27,000		109,708
Hokuhoku Financial Group, Inc.	6,000		10,498
Honda Motor Co. Ltd.	5,300		175,527
INPEX Corp.	12		54,273
Isetan Mitsukoshi Holdings Ltd.	1,400		14,746
JFE Holdings, Inc.	2,500		73,822
JGC Corp.	3,000		45,918
Jupiter Telecommunications Co.	40		42,609
Kansai Electric Power Co., Inc.	1,900		48,710
Kao Corp.	1,300		30,218
KDDI Corp.	13		62,664
Kinden Corp.	6,000		52,845
Kirin Holdings Co. Ltd.	2,000		27,660
Kuraray Co. Ltd.	2,000		22,637
Lawson, Inc.	700		31,909
Marubeni Corp.	8,000		41,228
Minebea Ltd.	12,000		55,273
Mitsubishi Corp.	1,000		21,423
Mitsubishi UFJ Financial Group, Inc.	28,900		137,013
Mitsui & Co. Ltd.	5,500		71,548
Mitsui Engineering & Shipbuilding Co.	24,000		51,131
Mitsui OSK Lines Ltd.	6,000		37,705
Mizuho Financial Group, Inc.	20,000		30,671
Nintendo Co. Ltd.	50		13,913
Nippon Electric Glass Co. Ltd.	4,000		44,799
Nippon Telegraph & Telephone Corp.	400		17,197
Nissan Motor Co. Ltd. (a)	15,100		115,380
Nisshin Seifun Group, Inc.	3,500		44,739
Nitori Holdings Co. Ltd.	800		69,698
Nitto Denko Corp.	1,100		35,270
Common Stocks - continued
	Shares		Value
Japan - continued
Nomura Holdings, Inc.	4,200		$ 23,786
NTT Data Corp.	16		50,045
Oji Paper Co. Ltd.	11,000		52,107
ORIX Corp.	380		28,584
Osaka Gas Co. Ltd.	13,000		49,048
Panasonic Corp.	2,000		25,313
Resona Holdings, Inc.	5,300		52,483
Sega Sammy Holdings, Inc.	2,900		43,041
Seven & i Holdings Co., Ltd.	1,400		31,992
Sony Corp.	2,700		75,667
Sony Financial Holdings, Inc.	18		58,915
Stanley Electric Co. Ltd.	1,400		21,595
Sumitomo Corp.	4,300		49,285
Sumitomo Heavy Industries Ltd.	6,000		27,779
Sumitomo Mitsui Financial Group, Inc.	3,100		92,277
Sumitomo Realty & Development Co. Ltd.	5,000		95,394
Taisei Corp.	24,000		47,417
Takeda Pharmaceutical Co. Ltd.	2,700		124,042
Tokio Marine Holdings, Inc.	2,600		69,750
Tokyo Electric Power Co.	2,000		58,224
Tokyo Gas Co. Ltd.	11,000		51,321
Tokyu Land Corp.	10,000		39,514
Toshiba Corp. (a)	7,000		32,909
Toyo Suisan Kaisha Ltd.	1,500		31,617
Toyoda Gosei Co. Ltd.	2,300		47,029
Toyota Motor Corp.	4,500		152,648
Yamada Denki Co. Ltd.	720		44,818
Yamaguchi Financial Group, Inc.	3,000		28,386
Yamazaki Baking Co. Ltd.	5,000		60,819
TOTAL JAPAN			4,241,888
Luxembourg - 0.8%
ArcelorMittal SA (Netherlands)	943		27,336
SES SA FDR (France) unit	2,688		61,716
Tenaris SA	3,940		66,816
TOTAL LUXEMBOURG			155,868
Netherlands - 2.6%
Akzo Nobel NV	372		19,645
ING Groep NV (Certificaten Van Aandelen) unit (a)	13,820		122,058
Koninklijke Ahold NV	7,745		95,366
Koninklijke KPN NV	2,705		39,221
Koninklijke Philips Electronics NV	2,398		66,835
STMicroelectronics NV	5,465		36,078
Unilever NV (Certificaten Van Aandelen) (Bearer) unit	4,740		126,509
TOTAL NETHERLANDS			505,712
New Zealand - 0.3%
Fletcher Building Ltd.	8,805		46,164
Sky City Entertainment Group Ltd.	10,695		21,400
TOTAL NEW ZEALAND			67,564
	Shares		Value
Norway - 0.5%
StatoilHydro ASA	2,800		$ 52,408
Telenor ASA	3,400		49,817
TOTAL NORWAY			102,225
Singapore - 1.3%
Ascendas Real Estate Investment Trust (A-REIT)	13,000		19,850
ComfortDelgro Corp. Ltd.	20,000		21,981
Jardine Cycle & Carriage Ltd.	2,000		47,975
Oversea-Chinese Banking Corp. Ltd.	9,000		57,557
SembCorp Marine Ltd.	23,000		64,638
Yangzijiang Shipbuilding Holdings Ltd.	37,000		43,395
TOTAL SINGAPORE			255,396
Spain - 2.6%
Banco Bilbao Vizcaya Argentaria SA	5,200		62,645
Banco Santander SA	14,260		166,074
EDP Renovaveis SA (a)	60		334
Iberdrola SA	9,940		70,047
Repsol YPF SA	2,174		49,493
Telefonica SA	6,110		135,064
Vallehermoso SA (a)	5,680		25,665
TOTAL SPAIN			509,322
Sweden - 2.2%
Alfa Laval AB	1,600		23,425
H&M Hennes & Mauritz AB (B Shares)	2,570		84,086
Nordea Bank AB	1,287		11,537
SSAB Svenskt Stal AB (A Shares)	2,220		30,399
Svenska Cellulosa AB (SCA) (B Shares)	5,000		66,505
Swedish Match Co.	3,230		74,430
Tele2 AB (B Shares)	4,345		78,194
Telefonaktiebolaget LM Ericsson (B Shares)	7,561		73,021
TOTAL SWEDEN			441,597
Switzerland - 7.4%
ABB Ltd. (Reg.)	1,941		37,468
Credit Suisse Group (Reg.)	2,031		88,828
Nestle SA	8,592		445,169
Novartis AG	3,740		196,067
Pargesa Holding SA	790		51,515
Roche Holding AG (participation certificate)	2,136		290,355
Straumann Holding AG	170		35,835
Sulzer AG (Reg.)	748		74,196
Swiss Reinsurance Co.	1,720		71,328
The Swatch Group AG (Bearer)	100		32,191
UBS AG (a)	6,080		102,015
Zurich Financial Services AG	86		19,179
TOTAL SWITZERLAND			1,444,146
United Kingdom - 19.9%
3i Group PLC	10,000		39,973
Common Stocks - continued
	Shares		Value
United Kingdom - continued
Anglo American PLC (United Kingdom)	3,270		$ 117,371
AstraZeneca PLC:
(United Kingdom)	1,320		64,896
sponsored ADR (e)	3,188		157,583
Aviva PLC	5,824		33,858
BAE Systems PLC	18,290		82,678
Barclays PLC	34,970		160,574
BG Group PLC	4,081		65,697
BHP Billiton PLC	4,530		126,342
BP PLC	46,580		268,868
British American Tobacco PLC (United Kingdom)	2,699		91,465
BT Group PLC	25,000		50,991
Cable & Wireless PLC	14,975		12,955
Centrica PLC	16,449		82,077
Compass Group PLC	11,708		95,811
Diageo PLC	4,000		65,028
EnQuest PLC (a)	4,000		7,265
GlaxoSmithKline PLC	2,172		40,539
GlaxoSmithKline PLC sponsored ADR	5,929		221,745
HSBC Holdings PLC:
(United Kingdom)	24,516		240,165
sponsored ADR	1,973		97,072
Imperial Tobacco Group PLC	2,110		58,258
Land Securities Group PLC	1,790		16,790
Legal & General Group PLC	53,160		75,549
Lloyds TSB Group PLC (a)	112,759		118,709
National Grid PLC	7,838		66,008
Next PLC	2,510		76,232
Pearson PLC	3,305		49,017
Reckitt Benckiser Group PLC	1,960		98,100
Rio Tinto PLC	3,930		197,704
Royal Dutch Shell PLC:
Class A (United Kingdom)	5,500		146,204
Class B	3,741		95,363
SABMiller PLC	372		10,596
Serco Group PLC	7,550		67,401
Stagecoach Group PLC	3,050		8,056
Standard Chartered PLC (United Kingdom)	5,426		145,527
Tesco PLC	10,024		62,572
Thomas Cook Group PLC	13,000		36,232
Tomkins PLC	10,511		52,069
Unilever PLC	5,187		136,673
Vedanta Resources PLC	1,480		42,884
Vodafone Group PLC	90,000		216,130
Xstrata PLC	1,200		18,885
TOTAL UNITED KINGDOM			3,917,912
TOTAL COMMON STOCKS (Cost $19,986,834)		18,942,776
Nonconvertible Preferred Stocks - 0.0%
	Shares		Value
Germany - 0.0%
Volkswagen AG (Cost $1,060)	12		$ 1,194

Government Obligations - 0.7%
	Principal Amount
United States of America - 0.7%
U.S. Treasury Bills, yield at date of purchase 0.16% to 0.34% 9/9/10 to 6/30/11 (f) (Cost $134,862)	$ 135,000	134,895

Money Market Funds - 1.8%
	Shares
Dreyfus Cash Management Institutional Shares, 0.10% (c)	197,620		197,620
Fidelity Securities Lending Cash Central Fund, 0.27% (b)(d)	152,250		152,250
TOTAL MONEY MARKET FUNDS (Cost $349,870)		349,870
TOTAL INVESTMENT PORTFOLIO - 98.9% (Cost $20,472,626)			19,428,735
NET OTHER ASSETS (LIABILITIES) - 1.1%			223,779
NET ASSETS - 100%		$ 19,652,514

Futures Contracts
	Expiration Date	Underlying Face Amount at Value	Unrealized Appreciation/ (Depreciation)
Purchased
Equity Index Contracts
8 CME E-mini MSCI EAFE Index Contracts	Sept. 2010	$ 568,800	$ 18,879

The face value of futures purchased as a percentage of net assets is 2.9%

Legend

(a) Non-income producing

(b) Affiliated fund that is available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request.

(c) The rate quoted is the annualized seven-day yield of the fund at period end.

(d) Investment made with cash collateral received from securities on loan.

(e) Security or a portion of the security is on loan at period end.

(f) Security or a portion of the security was pledged to cover margin requirements for futures contracts. At the period end, the value of securities pledged amounted to $134,895.

Affiliated Central Funds

Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:

Fund	Income earned
Fidelity Securities Lending Cash Central Fund	$ 250

Other Information

The following is a summary of the inputs used, as of August 31, 2010, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the table below, please refer to the Security Valuation section in the accompanying Notes to Financial Statements.

Valuation Inputs at Reporting Date:
Description	Total	Level 1	Level 2	Level 3
Investments in Securities:
Equities:
Japan	$ 4,241,888	$ 3,412,487	$ 829,401	$ -
United Kingdom	3,917,912	1,877,371	2,040,541	-
Australia	1,836,700	1,549,947	286,753	-
France	1,629,160	1,227,820	401,340	-
Germany	1,550,915	981,940	568,975	-
Switzerland	1,444,146	1,019,768	424,378	-
Hong Kong	545,765	545,765	-	-
Spain	509,322	96,046	413,276	-
Netherlands	505,712	154,232	351,480	-
Other	2,762,450	2,097,062	665,388	-
Government Obligations	134,895	-	134,895	-
Money Market Funds	349,870	349,870	-	-
Total Investments in Securities:	$ 19,428,735	$ 13,312,308	$ 6,116,427	$ -
Derivative Instruments:
Assets
Futures Contracts	$ 18,879	$ 18,879	$ -	$ -

Value of Derivative Instruments

The following table is a summary of the Fund's value of derivative instruments by risk exposure as of August 31, 2010. For additional information on derivative instruments, please refer to the Derivative Instruments section in the accompanying Notes to Financial Statements.

Risk Exposure / Derivative Type	Value
	Asset	Liability
Equity Risk
Futures Contracts (a)	$ 18,879	$ -
Total Value of Derivatives	$ 18,879	$ -

(a) Reflects cumulative appreciation/(depreciation) on futures contracts as disclosed on the Schedule of Investments. Only the period end variation margin is separately disclosed on the Statement of Assets and Liabilities.

Income Tax Information

At February 28, 2010, the Fund had a capital loss carryforward of approximately $2,902,265 of which $1,011,502 and $1,890,763 will expire on February 28, 2017 and 2018, respectively. Capital loss carryforwards are only available to offset future capital gains of the Fund to the extent provided by regulations and may be limited.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

Fidelity International Enhanced Index Fund

Financial Statements

Statement of Assets and Liabilities

	August 31, 2010 (Unaudited)
Assets
Investment in securities, at value (including securities loaned of $148,290) - See accompanying schedule: Unaffiliated issuers (cost $20,320,376)	$ 19,276,485
Fidelity Central Funds (cost $152,250)	152,250
Total Investments (cost $20,472,626)		$ 19,428,735
Foreign currency held at value (cost $149,104)		150,965
Receivable for fund shares sold		170,229
Dividends receivable		74,282
Interest receivable		92
Distributions receivable from Fidelity Central Funds		50
Receivable for daily variation on futures contracts		3,520
Total assets		19,827,873
Liabilities
Payable for fund shares redeemed	12,610
Accrued management fee	7,959
Other affiliated payables	2,540
Collateral on securities loaned, at value	152,250
Total liabilities		175,359
Net Assets		$ 19,652,514
Net Assets consist of:
Paid in capital		$ 24,355,485
Undistributed net investment income		366,950
Accumulated undistributed net realized gain (loss) on investments and foreign currency transactions		(4,047,411)
Net unrealized appreciation (depreciation) on investments and assets and liabilities in foreign currencies		(1,022,510)
Net Assets, for 3,098,368 shares outstanding		$ 19,652,514
Net Asset Value, offering price and redemption price per share ($19,652,514 ÷ 3,098,368 shares)		$ 6.34

Statement of Operations

Six months ended August 31, 2010 (Unaudited)
Investment Income
Dividends		$ 485,494
Interest		647
Income from Fidelity Central Funds (including $250 from security lending)		250
Income before foreign taxes withheld		486,391
Less foreign taxes withheld		(43,417)
Total income		442,974
Expenses
Management fee	$ 50,354
Transfer agent fees	16,131
Independent trustees' compensation	191
Miscellaneous	26
Total expenses before reductions	66,702
Expense reductions	(2)	66,700
Net investment income (loss)		376,274
Realized and Unrealized Gain (Loss) Net realized gain (loss) on:
Investment securities:
Unaffiliated issuers	(911,217)
Foreign currency transactions	(20,401)
Futures contracts	(159,191)
Total net realized gain (loss)		(1,090,809)
Change in net unrealized appreciation (depreciation) on: Investment securities	(765,147)
Assets and liabilities in foreign currencies	2,689
Futures contracts	84,358
Total change in net unrealized appreciation (depreciation)		(678,100)
Net gain (loss)		(1,768,909)
Net increase (decrease) in net assets resulting from operations		$ (1,392,635)

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

Statement of Changes in Net Assets

	Six months ended August 31, 2010 (Unaudited)	Year ended February 28, 2010
Increase (Decrease) in Net Assets
Operations
Net investment income (loss)	$ 376,274	$ 421,189
Net realized gain (loss)	(1,090,809)	(362,231)
Change in net unrealized appreciation (depreciation)	(678,100)	6,388,004
Net increase (decrease) in net assets resulting from operations	(1,392,635)	6,446,962
Distributions to shareholders from net investment income	(41,447)	(401,370)
Distributions to shareholders from net realized gain	-	(57,303)
Total distributions	(41,447)	(458,673)
Share transactions Proceeds from sales of shares	9,334,298	12,786,877
Reinvestment of distributions	39,173	432,668
Cost of shares redeemed	(8,245,363)	(12,200,610)
Net increase (decrease) in net assets resulting from share transactions	1,128,108	1,018,935
Redemption fees	812	895
Total increase (decrease) in net assets	(305,162)	7,008,119
Net Assets
Beginning of period	19,957,676	12,949,557
End of period (including undistributed net investment income of $366,950 and undistributed net investment income of $32,123, respectively)	$ 19,652,514	$ 19,957,676
Other Information Shares
Sold	1,368,792	2,054,145
Issued in reinvestment of distributions	5,541	64,721
Redeemed	(1,310,705)	(2,014,584)
Net increase (decrease)	63,628	104,282

Financial Highlights

	Six months ended August 31, 2010	Years ended February 28,
	(Unaudited)	2010	2009	2008 G
Selected Per-Share Data
Net asset value, beginning of period	$ 6.58	$ 4.42	$ 9.35	$ 10.00
Income from Investment Operations
Net investment income (loss) D	.11	.15	.18	.03
Net realized and unrealized gain (loss)	(.34)	2.17	(4.96)	(.68)
Total from investment operations	(.23)	2.32	(4.78)	(.65)
Distributions from net investment income	(.01)	(.14)	(.14)	-
Distributions from net realized gain	-	(.02)	(.01)	-
Total distributions	(.01)	(.16)	(.15)	-
Redemption fees added to paid in capital D, I	-	-	-	-
Net asset value, end of period	$ 6.34	$ 6.58	$ 4.42	$ 9.35
Total Return B, C	(3.47)%	52.44%	(51.52)%	(6.50)%
Ratios to Average Net Assets E, H
Expenses before reductions	.62% A	.62%	.62%	.62% A
Expenses net of fee waivers, if any	.62% A	.62%	.62%	.62% A
Expenses net of all reductions	.62% A	.62%	.62%	.62% A
Net investment income (loss)	3.51% A	2.39%	2.69%	1.58% A
Supplemental Data
Net assets, end of period (000 omitted)	$ 19,653	$ 19,958	$ 12,950	$ 7,273
Portfolio turnover rate F	47% A	22% J	42% J	15%

^A Annualized

^B Total returns for periods of less than one year are not annualized.

^C Total returns would have been lower had certain expenses not been reduced during the periods shown.

^D Calculated based on average shares outstanding during the period.

^E Fees and expenses of the underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.

^F Amount does not include the portfolio activity of any underlying Fidelity Central Funds.

^G For the period December 20, 2007 (commencement of operations) to February 29, 2008.

^H Expense ratios reflect operating expenses of the Fund. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the Fund during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the Fund.

^I Amount represents less than $.01 per share.

^J Reflects adjustments to exclude transactions in money market mutual funds.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

Notes to Financial Statements

For the period ended August 31, 2010 (Unaudited)

1. Organization.

Fidelity Large Cap Growth Enhanced Index Fund, Fidelity Large Cap Value Enhanced Index Fund, Fidelity Large Cap Core Enhanced Index Fund, Fidelity Mid Cap Enhanced Index Fund, Fidelity Small Cap Enhanced Index Fund and Fidelity International Enhanced Index Fund (the Funds) are funds of Fidelity Commonwealth Trust II (the Trust) and are authorized to issue an unlimited number of shares. The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company organized as a Delaware statutory trust.

2. Significant Accounting Policies.

The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP), which require management to make certain estimates and assumptions at the date of the financial statements. Actual results could differ from those estimates. The following summarizes the significant accounting policies of the Funds:

Security Valuation. Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Each Fund uses independent pricing services approved by the Board of Trustees to value their investments. When current market prices or quotations are not readily available or reliable, valuations may be determined in good faith in accordance with procedures adopted by the Board of Trustees. Factors used in determining value may include market or security specific events. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The value used for net asset value (NAV) calculation under these procedures may differ from published prices for the same securities.

Each Fund categorizes the inputs to valuation techniques used to value their investments into a disclosure hierarchy consisting of three levels as shown below.

Level 1 - quoted prices in active markets for identical investments

Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, etc.)

Level 3 - unobservable inputs (including the fund's own assumptions based on the best information available)

Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. The aggregate value of investments by input level, as of August 31, 2010 is included at the end of each Fund's Schedule of Investments. Valuation techniques used to value each Fund's investments by major category are as follows.

Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by an independent pricing service on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For foreign equity securities, when significant market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-traded funds (ETFs) and certain indexes as well as quoted prices for similar securities are used and are categorized as Level 2 in the hierarchy in these circumstances. Utilizing these techniques may result in transfers between Level 1 and Level 2. For restricted equity securities and private placements where observable inputs are limited, assumptions about market activity and risk are used and are categorized as Level 3 in the hierarchy.

Futures contracts are valued at the settlement price established each day by the board of trade or exchange on which they are traded and are categorized as Level 1 in the hierarchy. Investments in open-end mutual funds,including the Fidelity Central Funds, are valued at their closing net asset value each business day and are categorized as Level 1 in the hierarchy. Short-term securities with remaining maturities of sixty days or less for which quotations are not readily available are valued at amortized cost, which approximates fair value and are categorized as Level 2 in the hierarchy.

Foreign Currency. Certain Funds may use foreign currency contracts to facilitate transactions in foreign-denominated securities. Gains and losses from these transactions may arise from changes in the value of the foreign currency or if the counterparties do not perform under the contracts' terms.

Foreign-denominated assets, including investment securities, and liabilities are translated into U.S. dollars at the exchange rate at period end. Purchases and sales of investment securities, income and dividends received and expenses denominated in foreign currencies are translated into U.S. dollars at the exchange rate in effect on the transaction date.

The effects of exchange rate fluctuations on investments are included with the net realized and unrealized gain (loss) on investment securities. Other foreign currency transactions resulting in realized and unrealized gain (loss) are disclosed separately.

Investment Transactions and Income. For financial reporting purposes, the Funds' investment holdings and NAV include trades executed through the end of the last business day of the period. The NAV per share for processing shareholder transactions is calculated as of the close of business of the

Semiannual Report

2. Significant Accounting Policies - continued

Investment Transactions and Income - continued

New York Stock Exchange (NYSE), normally 4:00 p.m. Eastern time and includes trades executed through the end of the prior business day. Gains and losses on securities sold are determined on the basis of identified cost and may include proceeds received from litigation. Dividend income is recorded on the ex-dividend date, except for certain dividends from foreign securities where the ex-dividend date may have passed, which are recorded as soon as the Funds are informed of the ex-dividend date. Non-cash dividends included in dividend income, if any, are recorded at the fair market value of the securities received. Distributions received on securities that represent a return of capital or capital gain are recorded as a reduction of cost of investments and/or as a realized gain. The Funds estimate the components of distributions received that may be considered return of capital distributions or capital gain distributions. Interest income and distributions from the Fidelity Central Funds are accrued as earned. Interest income includes coupon interest and amortization of premium and accretion of discount on debt securities. Investment income is recorded net of foreign taxes withheld where recovery of such taxes is uncertain.

Expenses. Most expenses of the Trust can be directly attributed to a fund. Expenses which cannot be directly attributed are apportioned amongst each fund in the Trust. Expense estimates are accrued in the period to which they relate and adjustments are made when actual amounts are known.

Income Tax Information and Distributions to Shareholders. Each year each Fund intends to qualify as a regulated investment company, including distributing substantially all of its taxable income and realized gains under Subchapter M of the Internal Revenue Code and filing its U.S. federal tax return. As a result, no provision for income taxes is required. A fund's federal tax return is subject to examination by the Internal Revenue Service (IRS) for a period of three years. Foreign taxes are provided for based on each Fund's understanding of the tax rules and rates that exist in the foreign markets in which it invests.

Distributions are recorded on the ex-dividend date. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from GAAP.

Capital accounts within the financial statements are adjusted for permanent book-tax differences. These adjustments have no impact on net assets or the results of operations. Temporary book-tax differences will reverse in a subsequent period.

Book-tax differences are primarily due to the short-term gain distributions from the Fidelity Central Funds, futures transactions, foreign currency transactions, passive foreign investment companies (PFIC), market discount, capital loss carryforwards, and losses deferred due to wash sales and excise tax regulations.

The federal tax cost of investment securities and unrealized appreciation (depreciation) as of period end were as follows for each Fund:

	Tax cost	Gross unrealized appreciation	Gross unrealized depreciation	Net unrealized appreciation (depreciation)
Fidelity Large Cap Growth Enhanced Index Fund	$ 42,353,140	$ 3,759,035	$ (3,456,342)	$ 302,693
Fidelity Large Cap Value Enhanced Index Fund	65,938,278	5,196,373	(5,973,030)	(776,657)
Fidelity Large Cap Core Enhanced Index Fund	1,073,337,197	44,542,350	(198,271,788)	(153,729,438)
Fidelity Mid Cap Enhanced Index Fund	35,741,575	3,935,574	(2,624,700)	1,310,874
Fidelity Small Cap Enhanced Index Fund	93,145,480	11,342,078	(9,115,295)	2,226,783
Fidelity International Enhanced Index Fund	20,497,778	1,863,257	(2,932,300)	(1,069,043)

Short Term Trading (Redemption) Fees.Shares held by investors of Fidelity Small Cap Enhanced Index Fund less than 90 days are subject to a redemption fee equal to 1.50% of the net asset value of shares redeemed. Shares held by investors of Fidelity Mid Cap Enhanced Index Fund and Fidelity International Enhanced Index Fund less than 30 days are subject to a redemption fee equal to 0.75% and 1.00%, respectively, of the net asset value of shares redeemed. All redemption fees, which reduce the proceeds of the shareholder redemption, are retained by the Funds and accounted for as an addition to paid in capital.

3. Derivative Instruments.

Risk Exposures and the Use of Derivative Instruments. The Funds use derivative instruments (derivatives), including futures contracts, in order to meet their investment objectives. The strategy is to use derivatives to increase returns and to manage exposure to certain risks as defined below. The success of any strategy involving derivatives depends on analysis of numerous economic factors, and if the strategies for investment do not work as intended, the Funds may not achieve their objectives.

Semiannual Report

Notes to Financial Statements (Unaudited) - continued

3. Derivative Instruments - continued

Risk Exposures and the Use of Derivative Instruments - continued

The Funds' use of derivatives may increase or decrease their exposure to the following risk:

Equity Risk Equity risk relates to the fluctuations in the value of financial instruments as a result of changes in market prices (other than those arising from interest rate risk or foreign exchange risk), whether caused by factors specific to an individual investment, its issuer, or all factors affecting all instruments traded in a market or market segment.

The Funds are also exposed to additional risks from investing in derivatives, such as liquidity risk and counterparty credit risk. Liquidity risk is the risk that the Funds will be unable to sell the derivative in the open market in a timely manner. Counterparty credit risk is the risk that the counterparty will not be able to fulfill its obligation to the Funds. The Funds' maximum risk of loss from counterparty credit risk is generally the aggregate unrealized appreciation and unpaid counterparty fees in excess of any collateral pledged by the counterparty to the Funds. Counterparty risk related to exchange-traded futures contracts is minimal because of the protection provided by the exchange on which they trade. Risk of loss may exceed the amounts recognized in the Statement of Assets and Liabilities.

Net Realized Gain (Loss) and Change in Net Unrealized Appreciation (Depreciation) on Derivatives. The table below, which reflects the impacts of derivatives on the financial performance of the Funds, summarizes the net realized gain (loss) and change in net unrealized appreciation (depreciation) for derivatives during the period.

Risk Exposure / Derivative Type	Net Realized Gain (Loss)	Change in Net Unrealized Appreciation (Depreciation)
Fidelity Large Cap Growth Enhanced Index Fund
Equity Risk
Futures Contracts	$ (113,946)	$ (11,276)
Totals (a)(b)(c)	$ (113,946)	$ (11,276)
Fidelity Large Cap Value Enhanced Index Fund
Equity Risk
Futures Contracts	$ (121,673)	$ (24,834)
Totals (a)(b)(c)	$ (121,673)	$ (24,834)
Fidelity Large Cap Core Enhanced Index Fund
Equity Risk
Futures Contracts	$ 212,206	$ (326,189)
Totals (a)(b)(c)	$ 212,206	$ (326,189)
Fidelity Mid Cap Enhanced Index Fund
Equity Risk
Futures Contracts	$ (35,391)	$ (43,221)
Totals (a)(b)(c)	$ (35,391)	$ (43,221)
Fidelity Small Cap Enhanced Index Fund
Equity Risk
Futures Contracts	$ (261,221)	$ (87,380)
Totals (a)(b)(c)	$ (261,221)	$ (87,380)
Fidelity International Enhanced Index Fund
Equity Risk
Futures Contracts	$ (159,191)	$ 84,358
Totals (a)(b)(c)	$ (159,191)	$ 84,358

(a) A summary of the value of derivatives by risk exposure as of period end, if any, is included at the end of the Schedule of Investments and is representative of activity for the period.

(b) Derivatives realized gain (loss) is included in the Statement of Operations.

(c) Derivatives change in unrealized gain (loss) is included in the Statement of Operations.

Futures Contracts. A futures contract is an agreement between two parties to buy or sell a specified underlying instrument for a fixed price at a specified future date. The Funds use futures contracts to manage their exposure to the stock market.

Upon entering into a futures contract, a fund is required to deposit either cash or securities (initial margin) with a clearing broker in an amount equal to a certain percentage of the face value of the contract. Futures contracts are marked-to-market daily and subsequent payments (variation margin) are made or received by a fund depending on the daily fluctuations in the value of the futures contracts and are recorded as unrealized appreciation or (depreciation). Realized gain or (loss) is recorded upon the expiration or closing of a futures contract.

Semiannual Report

3. Derivative Instruments - continued

Futures Contracts - continued

The underlying face amount at value of open futures contracts at period end, if any, is shown in the Schedule of Investments under the caption "Futures Contracts." This amount reflects each contract's exposure to the underlying instrument at period end. Securities deposited to meet initial margin requirements are identified in the Schedule of Investments. The receivable and/or payable for the variation margin are reflected in the Statement of Assets and Liabilities.

Certain risks may arise upon entering into futures contracts, including the risk that an illiquid market may limit the ability to close out a futures contract prior to settlement date.

4. Purchases and Sales of Investments.

Purchases and sales of securities, other than short-term securities, are noted in the table below.

	Purchases ($)	Sales ($)
Fidelity Large Cap Growth Enhanced Index Fund	17,525,327	22,800,851
Fidelity Large Cap Value Enhanced Index Fund	26,890,355	30,130,258
Fidelity Large Cap Core Enhanced Index Fund	213,175,740	274,124,469
Fidelity Mid Cap Enhanced Index Fund	14,655,625	10,145,239
Fidelity Small Cap Enhanced Index Fund	30,651,404	25,252,918
Fidelity International Enhanced Index Fund	6,750,509	4,783,479

5. Fees and Other Transactions with Affiliates.

Management Fee and Expense Contract. Strategic Advisers, Inc. (Strategic Advisers), an affiliate of Fidelity Management & Research Company (FMR), provides the Funds with investment management related services. For these services, the Funds pay a monthly management fee to Strategic Advisers. The management fee is based on an annual rate of 0.30% of average net assets for Fidelity Large Cap Growth Enhanced Index, Fidelity Large Cap Value Enhanced Index and Fidelity Large Cap Core Enhanced Index, 0.45% of average net assets for Fidelity Mid Cap Enhanced Index, 0.52% of average net assets for Fidelity Small Cap Enhanced Index and 0.47% of average net assets for Fidelity International Enhanced Index. Under the management contract, Strategic Advisers pays all other ordinary fund-wide operating expenses (such as custody, audit, legal and pricing and bookkeeping fees), except the compensation of the independent Trustees and certain other expenses such as interest expense. The management fee paid to Strategic Advisers by the Funds is reduced by an amount equal to the fees and expenses paid by the Funds to the independent Trustees.

In addition, under the expense contract, Strategic Advisers pays other expenses such as those listed above for each of the Funds so that the total expenses do not exceed certain amounts of each Fund's average net assets with certain exceptions, as noted in the following table:

Fidelity Large Cap Growth Enhanced Index Fund	.45%
Fidelity Large Cap Value Enhanced Index Fund	.45%
Fidelity Large Cap Core Enhanced Index Fund	.45%
Fidelity Mid Cap Enhanced Index Fund	.60%
Fidelity Small Cap Enhanced Index Fund	.67%
Fidelity International Enhanced Index Fund	.62%

Sub-Adviser. Geode Capital Management, LLC (Geode), serves as sub-adviser for the Funds. Geode provides discretionary investment advisory services to the Funds and is paid by Strategic Advisers for providing these services.

Transfer Agent Fees. Fidelity Investments Institutional Operations Company, Inc. (FIIOC), an affiliate of FMR, is the Funds' transfer, dividend disbursing and shareholder servicing agent. FIIOC receives account fees and asset-based fees that vary according to type of account. FIIOC pays for typesetting, printing and mailing of shareholder reports, except proxy statements. Under the expense contract, each fund paid transfer agent fees at the annualized rate of 0.15% of average net assets.

6. Investments in Fidelity Central Funds.

The Funds may invest in Fidelity Central Funds, which are open-end investment companies available only to other investment companies and accounts managed by FMR and its affiliates. The Funds' Schedules of Investments list each of the Fidelity Central Funds as an investment of each Fund, but does not include the underlying holdings of each Fidelity Central Fund. As an Investing Fund, the Funds indirectly bear their proportionate share of the expenses of the underlying Fidelity Central Funds.

Semiannual Report

Notes to Financial Statements (Unaudited) - continued

6. Investments in Fidelity Central Funds - continued

The Fidelity Securities Lending Cash Central Fund seeks preservation of capital and current income and is managed by Fidelity Investments Money Management, Inc. (FIMM), an affiliate of FMR.

A complete unaudited list of holdings for each Fidelity Central Fund is available upon request or at the Securities and Exchange Commission (the SEC) web site at www.sec.gov. In addition, the financial statements of the Fidelity Central Funds are available on the SEC web site or upon request.

7. Interfund Lending Program.

Pursuant to an Exemptive Order issued by the SEC, the Funds, along with other registered investment companies having management contracts with FMR, may participate in an interfund lending program. This program provides an alternative credit facility allowing the funds to borrow from, or lend money to, other participating affiliated funds. At period end, there were no interfund loans outstanding. Each applicable fund's activity in this program during the period for which loans were outstanding was as follows:

	Borrower or Lender	Average Daily Loan Balance	Weighted Average Interest Rate	Interest Expense
Fidelity Large Cap Core Enhanced Index Fund	Borrower	$ 21,288,500	.43%	$ 1,531

8. Committed Line of Credit.

Certain Funds participate with other funds managed by FMR or an affiliate in a $3.75 billion credit facility (the "line of credit") to be utilized for temporary or emergency purposes to fund shareholder redemptions or for other short-term liquidity purposes. The participating funds have agreed to pay commitment fees on their pro-rata portion of the line of credit, which are reflected in Miscellaneous expenses on the Statement of Operations, and are as follows:

Fidelity Large Cap Growth Enhanced Index Fund	$ 57
Fidelity Large Cap Value Enhanced Index Fund	80
Fidelity Large Cap Core Enhanced Index Fund	1,147
Fidelity Mid Cap Enhanced Index Fund	43
Fidelity Small Cap Enhanced Index Fund	110
Fidelity International Enhanced Index Fund	26

During the period, there were no borrowings on this line of credit.

9. Security Lending.

Certain Funds lend portfolio securities from time to time in order to earn additional income. On the settlement date of the loan, each applicable Fund receives collateral (in the form of U.S. Treasury obligations, letters of credit and/or cash) against the loaned securities and maintains collateral in an amount not less than 100% of the market value of the loaned securities during the period of the loan. The market value of the loaned securities is determined at the close of business of the Funds and any additional required collateral is delivered to the Funds on the next business day. If the borrower defaults on its obligation to return the securities loaned because of insolvency or other reasons, a fund could experience delays and costs in recovering the securities loaned or in gaining access to the collateral. Any cash collateral received is invested in the Fidelity Securities Lending Cash Central Fund. The value of loaned securities and cash collateral at period end are disclosed on each applicable Fund's Statement of Assets and Liabilities. Security lending income represents the income earned on investing cash collateral, less fees and expenses associated with the loan, plus any premium payments that may be received on the loan of certain types of securities. Security lending income is presented on each applicable Fund's Statement of Operations as a component of income from Fidelity Central Funds.

Semiannual Report

10. Expense Reductions.

Through arrangements with each applicable Fund's custodian, credits realized as a result of uninvested cash balances were used to reduce each applicable Fund's expenses. All of the applicable expense reductions are noted in the table below.

	Expense reduction
Fidelity Large Cap Value Enhanced Index Fund	$ 6
Fidelity Large Cap Core Enhanced Index Fund	62
Fidelity Mid Cap Enhanced Index Fund	3
Fidelity Small Cap Enhanced Index Fund	4
Fidelity International Enhanced Index Fund	2

11. Other.

The Funds' organizational documents provide former and current trustees and officers with a limited indemnification against liabilities arising in connection with the performance of their duties to the Funds. In the normal course of business, the Funds may also enter into contracts that provide general indemnifications. The Funds' maximum exposure under these arrangements is unknown as this would be dependent on future claims that may be made against the Funds. The risk of material loss from such claims is considered remote.

Semiannual Report

Managing Your Investments

Fidelity offers several ways to conveniently manage your personal investments via your telephone or PC. You can access your account information, conduct trades and research your investments 24 hours a day.

By Phone

Fidelity Automated Service Telephone provides a single toll-free number to access account balances, positions, quotes and trading. It's easy to navigate the service, and on your first call, the system will help you create a personal identification number (PIN) for security.

(phone_graphic)

Fidelity Automated Service Telephone (FAST®)
1-800-544-5555

Press

For mutual fund and brokerage trading.

For quotes.*

For account balances and holdings.

To review orders and mutual fund activity.

To change your PIN.

To speak to a Fidelity representative.

By PC

Fidelity's web site on the Internet provides a wide range of information, including daily financial news, fund performance, interactive planning tools and news about Fidelity products and services.

(computer_graphic)

Fidelity's Web Site
www.fidelity.com

* When you call the quotes line, please remember that a fund's yield and return will vary and, except for money market funds, share price will also vary. This means that you may have a gain or loss when you sell your shares. There is no assurance that money market funds will be able to maintain a stable $1 share price; an investment in a money market fund is not insured or guaranteed by the U.S. government. Total returns are historical and include changes in share price, reinvestment of dividends and capital gains, and the effects of any sales charges.

Semiannual Report

To Write Fidelity

We'll give your correspondence immediate attention and send you written confirmation upon completion of your request.

(letter_graphic)

Making Changes
To Your Account

(such as changing name, address, bank, etc.)

Fidelity Investments
P.O. Box 770001
Cincinnati, OH 45277-0002

(letter_graphic)

For Non-Retirement
Accounts

Buying shares

Fidelity Investments
P.O. Box 770001
Cincinnati, OH 45277-0003

Overnight Express
Fidelity Investments
Attn: Distribution Services
100 Crosby Parkway - KC1H
Covington, KY 41015

Selling shares

Fidelity Investments
P.O. Box 770001
Cincinnati, OH 45277-0035

Overnight Express
Fidelity Investments
Attn: Distribution Services
100 Crosby Parkway - KC1H
Covington, KY 41015

General Correspondence

Fidelity Investments
P.O. Box 500
Merrimack, NH 03054-0500

(letter_graphic)

For Retirement
Accounts

Buying shares

Fidelity Investments
P.O. Box 770001
Cincinnati, OH 45277-0003

Selling shares

Fidelity Investments
P.O. Box 770001
Cincinnati, OH 45277-0035

Overnight Express
Fidelity Investments
Attn: Distribution Services
100 Crosby Parkway - KC1H
Covington, KY 41015

General Correspondence

Fidelity Investments
P.O. Box 500
Merrimack, NH 03054-0500

Semiannual Report

Investment Adviser

Strategic Advisers, Inc.
Boston, MA

Investment Sub-Adviser

Geode Capital Management, LLC
Boston, MA

General Distributor

Fidelity Distributors Corporation
Boston, MA

Transfer and Service Agents

Fidelity Investments Institutional Operations Company, Inc.
Boston, MA 

Fidelity Service Company, Inc.
Boston, MA 

Custodian

The Bank of New York Mellon
New York, NY

The Fidelity Telephone Connection

Mutual Fund 24-Hour Service

Exchanges/Redemptions
and Account Assistance 1-800-544-6666

Product Information 1-800-544-6666

Retirement Accounts 1-800-544-4774
(8 a.m. - 9 p.m.)

TDD Service 1-800-544-0118
for the deaf and hearing impaired
(9 a.m. - 9 p.m. Eastern time)

Fidelity Automated Service
Telephone (FAST®)
1-800-544-5555

Automated line for quickest service

GEI-USAN-1010
1.855141.103

Item 2. Code of Ethics

Not applicable.

Item 3. Audit Committee Financial Expert

Not applicable.

Item 4. Principal Accountant Fees and Services

Not applicable.

Item 5. Audit Committee of Listed Registrants

Not applicable.

Item 6. Investments

(a) Not applicable.

(b) Not applicable

Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies

Not applicable.

Item 8. Portfolio Managers of Closed-End Management Investment Companies

Not applicable.

Item 9. Purchase of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers

Not applicable.

Item 10. Submission of Matters to a Vote of Security Holders

There were no material changes to the procedures by which shareholders may recommend nominees to the Fidelity Commonwealth Trust II's Board of Trustees.

Item 11. Controls and Procedures

(a)(i) The President and Treasurer and the Chief Financial Officer have concluded that the Fidelity Commonwealth Trust II's (the "Trust") disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act) provide reasonable assurances that material information relating to the Trust is made known to them by the appropriate persons, based on their evaluation of these controls and procedures as of a date within 90 days of the filing date of this report.

(a)(ii) There was no change in the Trust's internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act) that occurred during the second fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the Trust's internal control over financial reporting.

Item 12. Exhibits

(a)	(1)	Not applicable.
(a)	(2)	Certification pursuant to Rule 30a-2(a) under the Investment Company Act of 1940 (17 CFR 270.30a-2(a)) is filed and attached hereto as Exhibit 99.CERT.
(a)	(3)	Not applicable.
(b)		Certification pursuant to Rule 30a-2(b) under the Investment Company Act of 1940 (17 CFR 270.30a-2(b)) is furnished and attached hereto as Exhibit 99.906CERT.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Fidelity Commonwealth Trust II

By:	/s/Kenneth B. Robins
	Kenneth B. Robins
	President and Treasurer
Date:	November 5, 2010

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

By:	/s/Kenneth B. Robins
	Kenneth B. Robins
	President and Treasurer
Date:	November 5, 2010

By:	/s/Nicholas E. Steck
	Nicholas E. Steck
	Chief Financial Officer
Date:	November 5, 2010

EX-99.CERT

Exhibit EX-99.906CERT

Certification Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (subsections (a) and (b) of section 1350, chapter 63 of title 18, United States Code)

In connection with the attached Report of Fidelity Commonwealth Trust II (the "Trust") on Form N-CSR to be filed with the Securities and Exchange Commission (the "Report"), each of the undersigned officers of the Trust does hereby certify that, to the best of such officer's knowledge:

1. The Report fully complies with the requirements of 13(a) or 15(d) of the Securities Exchange Act of 1934; and

2. The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Trust as of, and for, the periods presented in the Report.

Dated: November 5, 2010

/s/Kenneth B. Robins

Kenneth B. Robins

President and Treasurer

Dated: November 5, 2010

/s/Nicholas E. Steck

Nicholas E. Steck

Chief Financial Officer

A signed original of this written statement required by Section 906, or other document authenticating, acknowledging, or otherwise adopting the signature that appears in typed form within the electronic version of this written statement required by Section 906, has been provided to the Trust and will be retained by the Trust and furnished to the Securities and Exchange Commission or its staff upon request.

EX-99.906 CERT

Exhibit EX-99.CERT

I, Kenneth B. Robins, certify that:

1. I have reviewed this report on Form N-CSR of Fidelity Commonwealth Trust II;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

a. Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b. Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c. Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based upon such evaluation; and

d. Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the second fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

a. All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

b. Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: November 5, 2010

/s/Kenneth B. Robins

Kenneth B. Robins

President and Treasurer

I, Nicholas E. Steck, certify that:

1. I have reviewed this report on Form N-CSR of Fidelity Commonwealth Trust II;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

a. Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b. Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c. Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based upon such evaluation; and

d. Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the second fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

a. All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

b. Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: November 5, 2010

/s/Nicholas E. Steck

Nicholas E. Steck

Chief Financial Officer