0001379491-18-005514.txt : 20181017 0001379491-18-005514.hdr.sgml : 20181017 20181017111335 ACCESSION NUMBER: 0001379491-18-005514 CONFORMED SUBMISSION TYPE: 485BPOS PUBLIC DOCUMENT COUNT: 28 FILED AS OF DATE: 20181017 DATE AS OF CHANGE: 20181017 EFFECTIVENESS DATE: 20181017 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FIDELITY SELECT PORTFOLIOS CENTRAL INDEX KEY: 0000320351 IRS NUMBER: 000000000 STATE OF INCORPORATION: MA FISCAL YEAR END: 0228 FILING VALUES: FORM TYPE: 485BPOS SEC ACT: 1933 Act SEC FILE NUMBER: 002-69972 FILM NUMBER: 181125708 BUSINESS ADDRESS: STREET 1: 245 SUMMER STREET CITY: BOSTON STATE: MA ZIP: 02210 BUSINESS PHONE: 617-563-7000 MAIL ADDRESS: STREET 1: 245 SUMMER STREET CITY: BOSTON STATE: MA ZIP: 02210 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FIDELITY SELECT PORTFOLIOS CENTRAL INDEX KEY: 0000320351 IRS NUMBER: 000000000 STATE OF INCORPORATION: MA FISCAL YEAR END: 0228 FILING VALUES: FORM TYPE: 485BPOS SEC ACT: 1940 Act SEC FILE NUMBER: 811-03114 FILM NUMBER: 181125707 BUSINESS ADDRESS: STREET 1: 245 SUMMER STREET CITY: BOSTON STATE: MA ZIP: 02210 BUSINESS PHONE: 617-563-7000 MAIL ADDRESS: STREET 1: 245 SUMMER STREET CITY: BOSTON STATE: MA ZIP: 02210 0000320351 S000007463 Consumer Staples Portfolio C000205042 Fidelity Advisor Consumer Staples Fund: Class Z FIJCX 0000320351 S000007465 Gold Portfolio C000205043 Fidelity Advisor Gold Fund: Class Z FIJDX 0000320351 S000007469 Materials Portfolio C000205044 Fidelity Advisor Materials Fund: Class Z FIJFX 0000320351 S000007485 Telecommunications Portfolio C000205045 Fidelity Advisor Telecommunications Fund: Class Z FIJGX 0000320351 S000039314 Fidelity International Real Estate Fund C000205046 Fidelity Advisor International Real Estate Fund: Class Z FIKLX 485BPOS 1 filing995.htm PRIMARY DOCUMENT



Securities Act of 1933 Registration No. 002-69972

Investment Company Act of 1940 Registration No. 811-03114


SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-1A

REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 x

o Pre-Effective Amendment No.  ______

x Post-Effective Amendment No.  _144_

and

REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940 x

x Amendment No.  _144_


Fidelity Select Portfolios

 (Exact Name of Registrant as Specified in Charter)


245 Summer Street, Boston, Massachusetts 02210

(Address of Principal Executive Offices)(Zip Code)

Registrant’s Telephone Number: 617-563-7000

William C. Coffey, Secretary

245 Summer Street

Boston, Massachusetts 02210

(Name and Address of Agent for Service)

It is proposed that this filing will become effective immediately upon filing pursuant to paragraph (b) of Rule 485.


EXHIBIT INDEX



Exhibit

Exhibit No.

XBRL Instance Document

EX-101.INS

XBRL Taxonomy Extension Schema Document

EX-101.SCH

XBRL Taxonomy Extension Calculation Linkbase Document

EX-101.CAL

XBRL Taxonomy Extension Definition Linkbase Document

EX-101.DEF

XBRL Taxonomy Extension Labels Linkbase Document

EX-101.LAB

XBRL Taxonomy Extension Presentation Linkbase Document

EX-101.PRE








SIGNATURES

Pursuant to the requirements of the Securities Act of 1933 and the Investment Company Act of 1940, the Registrant certifies that it meets all of the requirements for the effectiveness of this Registration Statement pursuant to Rule 485(b) under the Securities Act of 1933 and has duly caused this Post-Effective Amendment No. 144 to the Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Boston, and Commonwealth of Massachusetts, on the 17th day of October 2018.


 

Fidelity Select Portfolios

 

By

/s/Stacie M. Smith

 

||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||

 

Stacie M. Smith, President

 



Pursuant to the requirements of the Securities Act of 1933, this Registration Statement has been signed below by the following persons in the capacities and on the dates indicated.


     (Signature)

 

(Title)

(Date)

 

 

 

 

/s/Stacie M. Smith

 

President and Treasurer

October 17, 2018                       

Stacie M. Smith

 

(Principal Executive Officer)

 

 

 

 

 

/s/John J. Burke III

 

Chief Financial Officer

October 17, 2018                       

John J. Burke III

 

(Principal Financial Officer)

 

 

 

 

 

/s/James C. Curvey

*

Trustee

October 17, 2018                       

James C. Curvey

 

 

 

 

 

 

 

/s/Dennis J. Dirks

*

Trustee

October 17, 2018                       

Dennis J. Dirks

 

 

 

 

 

 

 

/s/Donald F. Donahue

*

Trustee

October 17, 2018                       

Donald F. Donahue

 

 

 

 

 

 

 

/s/Alan J. Lacy

*

Trustee

October 17, 2018                       

Alan J. Lacy

 

 

 

 

 

 

 

/s/Ned C. Lautenbach

*

Trustee

October 17, 2018                       

Ned C. Lautenbach

 

 

 

 

 

 

 

/s/Joseph Mauriello

*

Trustee

October 17, 2018                       

Joseph Mauriello

 

 

 

 

 

 

 

/s/Charles S. Morrison

*

Trustee

October 17, 2018                       

Charles S. Morrison

 

 

 

 

 

 

 

/s/Cornelia M. Small

*

Trustee

October 17, 2018                       

Cornelia M. Small

 

 

 

 

 

 

 

/s/Garnett A. Smith

*

Trustee

October 17, 2018                       

Garnett A. Smith

 

 

 

 

 

 

 

/s/David M. Thomas

*

Trustee

October 17, 2018                       

David M. Thomas

 

 

 

 

 

 

 

/s/Michael E. Wiley

*

Trustee

October 17, 2018                       

Michael E. Wiley

 

 

 

 

 

 

 

 

 

 

 


*

By:

/s/Megan C. Johnson

 

 

Megan C. Johnson, pursuant to powers of attorney dated March 2, 2018 and filed herewith.

POWER OF ATTORNEY

We, the undersigned Directors or Trustees, as the case may be, of the following investment companies:


Fidelity Advisor Series I

Fidelity Advisor Series VII

Fidelity Advisor Series VIII

Fidelity Beacon Street Trust

Fidelity Capital Trust

Fidelity Central Investment Portfolios LLC

Fidelity Commonwealth Trust

Fidelity Commonwealth Trust II

Fidelity Concord Street Trust

Fidelity Congress Street Fund

Fidelity Contrafund

Fidelity Covington Trust

Fidelity Destiny Portfolios

Fidelity Devonshire Trust

Fidelity Exchange Fund

Fidelity Financial Trust

Fidelity Hanover Street Trust

Fidelity Hastings Street Trust

Fidelity Investment Trust

Fidelity Magellan Fund

Fidelity Mt. Vernon Street Trust

Fidelity Puritan Trust

Fidelity Securities Fund

Fidelity Select Portfolios

Fidelity Summer Street Trust

Fidelity Trend Fund

Variable Insurance Products Fund

Variable Insurance Products Fund II

Variable Insurance Products Fund III

Variable Insurance Products Fund IV

in addition to any other investment company for which Fidelity Management & Research Company (“FMR”) or an affiliate acts as investment adviser and for which the undersigned individuals serve as Directors or Trustees (collectively, the “Funds”), hereby revoke all previous powers of attorney we have given to sign and otherwise act in our names and behalf in matters involving any investment company for which FMR or an affiliate acts as investment adviser and hereby constitute and appoint Thomas C. Bogle, John V. O’Hanlon, Robert W. Helm, Megan C. Johnson, and Anthony H. Zacharski, each of them singly, our true and lawful attorneys-in-fact, with full power of substitution, and with full power to each of them, to sign for us and in our names in the appropriate capacities, all Registration Statements of the Funds on Form N-1A, or any successors thereto, any and all subsequent Amendments, Pre-Effective Amendments, or Post-Effective Amendments to said Registration Statements or any successors thereto, and any supplements or other instruments in connection therewith, and generally to do all such things in our names and behalf in connection therewith as said attorneys–in-fact deem necessary or appropriate, to comply with the provisions of the Securities Act of 1933 and the Investment Company Act of 1940, and all related requirements of the Securities and Exchange Commission.  We hereby ratify and confirm all that said attorneys-in-fact or their substitutes may do or cause to be done by virtue hereof.  This power of attorney is effective for all documents filed on or after March 2, 2018.

WITNESS our hands on this second day of March 2018.

/s/ James C. Curvey

/s/ Joseph Mauriello

James C. Curvey

Joseph Mauriello

/s/ Dennis J. Dirks

/s/ Charles S. Morrison

Dennis J. Dirks

Charles S. Morrison

/s/ Donald F. Donahue

/s/ Cornelia M. Small

Donald F. Donahue

Cornelia M. Small

/s/ Alan J. Lacy

/s/ Garnett A. Smith

Alan J. Lacy

Garnett A. Smith

/s/ Ned C. Lautenbach

/s/ David M. Thomas

Ned C. Lautenbach

David M. Thomas


POWER OF ATTORNEY

I, the undersigned Director or Trustee, as the case may be, of the following investment companies:


Fidelity Advisor Series I

Fidelity Advisor Series VII

Fidelity Beacon Street Trust

Fidelity Capital Trust

Fidelity Central Investment Portfolios LLC

Fidelity Commonwealth Trust

Fidelity Commonwealth Trust II

Fidelity Congress Street Fund

Fidelity Contrafund

Fidelity Covington Trust

Fidelity Destiny Portfolios

Fidelity Devonshire Trust

Fidelity Exchange Fund

Fidelity Financial Trust

Fidelity Hanover Street Trust

Fidelity Hastings Street Trust

Fidelity Magellan Fund

Fidelity Mt. Vernon Street Trust

Fidelity Select Portfolios

Fidelity Summer Street Trust

Fidelity Trend Fund

Variable Insurance Products Fund II

Variable Insurance Products Fund III

Variable Insurance Products Fund IV

in addition to any other investment company for which Fidelity Management & Research Company (“FMR”) or an affiliate acts as investment adviser and for which the undersigned individual serves as Director or Trustee (collectively, the “Funds”), hereby revokes all previous powers of attorney I have given to sign and otherwise act in my name and behalf in matters involving any investment company for which FMR or an affiliate acts as investment adviser and hereby constitute and appoint Thomas C. Bogle, John V. O’Hanlon, Robert W. Helm, Megan C. Johnson, and Anthony H. Zacharski, each of them singly, my true and lawful attorneys-in-fact, with full power of substitution, and with full power to each of them, to sign for me and in my name in the appropriate capacities, all Registration Statements of the Funds on Form N-1A, or any successors thereto, any and all subsequent Amendments, Pre-Effective Amendments, or Post-Effective Amendments to said Registration Statements or any successors thereto, and any supplements or other instruments in connection therewith, and generally to do all such things in my name and behalf in connection therewith as said attorneys–in-fact deem necessary or appropriate, to comply with the provisions of the Securities Act of 1933 and the Investment Company Act of 1940, and all related requirements of the Securities and Exchange Commission.  I hereby ratify and confirm all that said attorneys-in-fact or their substitutes may do or cause to be done by virtue hereof.  This power of attorney is effective for all documents filed on or after March 2, 2018.

WITNESS our hands on this second day of March 2018.


/s/ Michael E. Wiley    

Michael E. Wiley








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iso4217:USD xbrli:pure xbrli:shares iso4217:USD xbrli:shares 0000320351FIDELITY SELECT PORTFOLIOS485BPOS2018-09-282018-09-292018-09-28false2018-09-29<p style="font: bold 20pt Arial, Helvetica, sans-serif;">Fund Summary</p><p style="font: normal 12pt Arial, Helvetica, sans-serif;"><b>Fund/Class</b>:<br/><b>Consumer Staples Portfolio</b>/Fidelity Advisor® Consumer Staples Fund Z</p><font style="font: bold 16pt Arial, Helvetica, sans-serif;">Investment Objective</font><p style="font: normal 11pt 'Times New Roman', serif; color: #000000;">The fund seeks capital appreciation.</p><font style="font: bold 16pt Arial, Helvetica, sans-serif;"><b>Fee Table</b></font><p style="font: normal 11pt 'Times New Roman', serif; color: #000000;">The following table describes the fees and expenses that may be incurred when you buy and hold shares of the fund. In addition to the fees and expenses described below, your broker may also require you to pay brokerage commissions on purchases and sales of certain share classes of the fund. </p><p style="font: bold 11pt Arial, sans-serif; margin-bottom: 0px;">Shareholder fees</p><p style="font: bold 9pt Arial, sans-serif; margin-top: 0px"></p>~ http://www.proofPlus.com/role/ShareholderFeesS000007463_NFFAConsumerStaplesFundClassZPRO01 column period compact * ~0<p style="font: bold 11pt Arial, sans-serif; margin-bottom: 0px;">Annual Operating Expenses</p><p style="font: bold 9pt Arial, sans-serif; margin-top: 0px">(expenses that you pay each year as a % of the value of your investment)</p>~ http://www.proofPlus.com/role/OperatingExpensesS000007463_NFFAConsumerStaplesFundClassZPRO01 column period compact * ~0.00540.00<font style="FONT-FAMILY: Times New Roman" size="3">Based on estimated amounts for the current fiscal year.</font>0.00100.0064<p style="font: normal 11pt 'Times New Roman', serif; color: #000000;">This <b>example</b> helps compare the cost of investing in the fund with the cost of investing in other funds. </p><p style="font: normal 11pt 'Times New Roman', serif; color: #000000;">Let's say, hypothetically, that the annual return for shares of the fund is 5% and that your shareholder fees and the annual operating expenses for shares of the fund are exactly as described in the fee table. This example illustrates the effect of fees and expenses, but is not meant to suggest actual or expected fees and expenses or returns, all of which may vary. For every $10,000 you invested, here's how much you would pay in total expenses if you sell all of your shares at the end of each time period indicated: </p>65205357798~ http://www.proofPlus.com/role/ExpenseExampleS000007463_NFFAConsumerStaplesFundClassZPRO01 column period compact * ~<p style="font: bold 9pt Arial, sans-serif; margin-top: 0px">Sell All Shares</p><font style="font: bold 16pt Arial, Helvetica, sans-serif;"><b>Portfolio Turnover</b></font>0.76<p style="font: normal 11pt 'Times New Roman', serif; color: #000000;">The fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when fund shares are held in a taxable account. These costs, which are not reflected in annual operating expenses or in the example, affect the fund's performance. During the most recent fiscal year, the fund's portfolio turnover rate was 76% of the average value of its portfolio. </p><font style="font: bold 16pt Arial, Helvetica, sans-serif;"><b>Principal Investment Strategies</b></font><font style="FONT-FAMILY: Times New Roman" size="3">Normally investing at least 80% of assets in securities of companies principally engaged in the manufacture, sale, or distribution of consumer staples.</font><ul style="font: normal 11pt 'Times New Roman', serif; color: #000000;"><li style="padding-bottom: 10px;">Normally investing primarily in common stocks.</li></ul><ul style="font: normal 11pt 'Times New Roman', serif; color: #000000;"><li style="padding-bottom: 10px;">Normally investing at least 80% of assets in securities of companies principally engaged in the manufacture, sale, or distribution of consumer staples.</li></ul><ul style="font: normal 11pt 'Times New Roman', serif; color: #000000;"><li style="padding-bottom: 10px;">Investing in domestic and foreign issuers.</li></ul><ul style="font: normal 11pt 'Times New Roman', serif; color: #000000;"><li style="padding-bottom: 10px;">Using fundamental analysis of factors such as each issuer's financial condition and industry position, as well as market and economic conditions, to select investments.</li></ul><font style="font: bold 16pt Arial, Helvetica, sans-serif;"><b>Principal Investment Risks</b></font><font style="FONT-FAMILY: Times New Roman" size="3">In addition, the fund is classified as non-diversified under the Investment Company Act of 1940, which means that it has the ability to invest a greater portion of assets in securities of a smaller number of individual issuers than a diversified fund. As a result, changes in the market value of a single investment could cause greater fluctuations in share price than would occur in a more diversified fund.</font><font style="FONT-FAMILY: Times New Roman" size="3">An investment in the fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</font><font style="FONT-FAMILY: Times New Roman" size="3">You could lose money by investing in the fund.</font><ul style="font: normal 11pt 'Times New Roman', serif; color: #000000;"><li><b><i>Stock Market Volatility.</i></b> Stock markets are volatile and can decline significantly in response to adverse issuer, political, regulatory, market, or economic developments. Different parts of the market, including different market sectors, and different types of securities can react differently to these developments.</li></ul><ul style="font: normal 11pt 'Times New Roman', serif; color: #000000;"><li><b><i>Foreign Exposure.</i></b> Foreign markets can be more volatile than the U.S. market due to increased risks of adverse issuer, political, regulatory, market, or economic developments and can perform differently from the U.S. market. </li></ul><ul style="font: normal 11pt 'Times New Roman', serif; color: #000000;"><li><b><i>Consumer Staples Industry Concentration.</i></b> The consumer staples industries can be significantly affected by demographics and product trends, competitive pricing, food fads, marketing campaigns, environmental factors, government regulation, the performance of the overall economy, interest rates, consumer confidence, and the cost of commodities.</li></ul><ul style="font: normal 11pt 'Times New Roman', serif; color: #000000;"><li><b><i>Issuer-Specific Changes.</i></b> The value of an individual security or particular type of security can be more volatile than, and can perform differently from, the market as a whole. The value of securities of smaller issuers can be more volatile than that of larger issuers. </li></ul><p style="font: normal 11pt 'Times New Roman', serif; color: #000000;">In addition, the fund is classified as non-diversified under the Investment Company Act of 1940, which means that it has the ability to invest a greater portion of assets in securities of a smaller number of individual issuers than a diversified fund. As a result, changes in the market value of a single investment could cause greater fluctuations in share price than would occur in a more diversified fund.</p><p style="font: normal 11pt 'Times New Roman', serif; color: #000000;">An investment in the fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. You could lose money by investing in the fund. </p><font style="font: bold 16pt Arial, Helvetica, sans-serif;"><b>Performance</b></font><font style="FONT-FAMILY: Times New Roman" size="3">The information illustrates the changes in the performance of Class I shares from year to year and compares the performance of Class I shares to the performance of a securities market index and an additional index over various periods of time.</font><font style="FONT-FAMILY: Times New Roman" size="3">Past performance (before and after taxes) is not an indication of future performance.</font><font style="FONT-FAMILY: Times New Roman" size="3">institutional.fidelity.com </font><p style="font: normal 11pt 'Times New Roman', serif; color: #000000;">The following information is intended to help you understand the risks of investing in the fund. The information illustrates the changes in the performance of Class I shares from year to year and compares the performance of Class I shares to the performance of a securities market index and an additional index over various periods of time. The indexes have characteristics relevant to the fund's investment strategies. Index descriptions appear in the "Additional Index Information" section of the prospectus. Past performance (before and after taxes) is not an indication of future performance. </p><p style="font: normal 11pt 'Times New Roman', serif; color: #000000;">Visit institutional.fidelity.com for more recent performance information.</p><p style="font: normal 11pt 'Times New Roman', serif; color: #000000;">Performance history will be available for Class Z after Class Z has been in operation for one calendar year.</p><p style="font:bold 11pt Arial, sans-serif; margin-bottom: 0px;">Year-by-Year Returns*</p><p style="font: bold 9pt Arial, sans-serif; margin-top: 0px">Calendar Years</p>-0.22290.20990.15220.08790.15350.21590.14890.01900.03040.1206~ http://www.proofPlus.com/role/AnnualTotalReturnsBarChartS000007463_NFFAConsumerStaplesFundClassZPRO01 column period compact * ~Highest Quarter Return0.14492009-06-30Lowest Quarter Return-0.12952008-12-31Year-to-Date Return-0.08982018-06-30<table style="font: normal 9pt Arial, sans-serif;" border="0" cellspacing="5" cellpadding="0" width="745"><tr><td align="left" valign="top">During the periods shown in the chart:</td><td align="right" valign="top">Returns</td><td align="right" valign="top">Quarter ended</td></tr><tr><td align="left" valign="top">Highest Quarter Return</td><td align="right" valign="top" >14.49%</td><td align="right" valign="top">June 30, 2009</td></tr><tr><td align="left" valign="top">Lowest Quarter Return</td><td align="right" valign="top">-12.95%</td><td align="right" valign="top">December 31, 2008</td></tr><tr><td align="left" valign="top">Year-to-Date Return</td><td align="right" valign="top">-8.98%</td><td align="right" valign="top">June 30, 2018</td></tr></table><font style="FONT-FAMILY: Times New Roman" size="3">* The returns shown above are for Class I, which is not offered through this prospectus. Class Z would have substantially similar annual returns to Class I because the classes are invested in the same portfolio of securities. Class Z's returns would differ from Class I's returns to the extent that the classes do not have the same expenses.</font><font style="font: bold 16pt Arial, Helvetica, sans-serif;"><b>Average Annual Returns*</b></font><font style="FONT-FAMILY: Times New Roman" size="3">After-tax returns are calculated using the historical highest individual federal marginal income tax rates, but do not reflect the impact of state or local taxes.</font><font style="FONT-FAMILY: Times New Roman" size="3">The after-tax returns shown are not relevant if you hold your shares in a retirement account or in another tax-deferred arrangement, such as an employee benefit plan (profit sharing, 401(k), or 403(b) plan).</font>~ http://www.proofPlus.com/role/AverageAnnualTotalReturnsS000007463_NFFAConsumerStaplesFundClassZPRO01 column period compact * ~<font style="FONT-FAMILY: Times New Roman" ><b>Return Before Taxes</b></font><font style="FONT-FAMILY: Times New Roman" ><b>Consumer Staples Portfolio</b></font>0.12060.10450.0837<font style="FONT-FAMILY: Times New Roman" ><b>Return After Taxes on Distributions</b></font><font style="FONT-FAMILY: Times New Roman" ><b>Consumer Staples Portfolio</b></font>0.09860.08650.0729<font style="FONT-FAMILY: Times New Roman" ><b>Return After Taxes on Distributions and Sale of Fund Shares</b></font><font style="FONT-FAMILY: Times New Roman" ><b>Consumer Staples Portfolio</b></font>0.08610.08100.06730.21830.15790.08500.11910.13420.1016<p style="font: normal 11pt 'Times New Roman', serif; color: #000000;">After-tax returns are calculated using the historical highest individual federal marginal income tax rates, but do not reflect the impact of state or local taxes. Actual after-tax returns may differ depending on your individual circumstances. The after-tax returns shown are not relevant if you hold your shares in a retirement account or in another tax-deferred arrangement, such as an employee benefit plan (profit sharing, 401(k), or 403(b) plan). </p><p style="font: bold 9pt Arial, sans-serif; margin-top: 0px">For the periods ended December 31, 2017</p><p style="font: normal 11pt 'Times New Roman', serif; color: #000000;"><i>* The returns shown above are for Class I, which is not offered through this prospectus</i>. <i>Class Z would have substantially similar annual returns to Class I because the classes are invested in the same portfolio of securities. Class Z's returns</i> <i>would differ from Class I's returns to the extent that</i> <i>the classes do not have the same expenses.</i></p><p style="font: bold 20pt Arial, Helvetica, sans-serif;">Fund Summary</p><p style="font: normal 12pt Arial, Helvetica, sans-serif;"><b>Fund/Class</b>:<br/><b>Gold Portfolio</b>/Fidelity Advisor® Gold Fund Z</p><font style="font: bold 16pt Arial, Helvetica, sans-serif;">Investment Objective</font><p style="font: normal 11pt 'Times New Roman', serif; color: #000000;">The fund seeks capital appreciation.</p><font style="font: bold 16pt Arial, Helvetica, sans-serif;"><b>Fee Table</b></font><p style="font: normal 11pt 'Times New Roman', serif; color: #000000;">The following table describes the fees and expenses that may be incurred when you buy and hold shares of the fund. In addition to the fees and expenses described below, your broker may also require you to pay brokerage commissions on purchases and sales of certain share classes of the fund. </p><p style="font: bold 11pt Arial, sans-serif; margin-bottom: 0px;">Shareholder fees</p><p style="font: bold 9pt Arial, sans-serif; margin-top: 0px"></p>~ http://www.proofPlus.com/role/ShareholderFeesS000007465_NFFAGoldFundClassZPRO01 column period compact * ~0<p style="font: bold 11pt Arial, sans-serif; margin-bottom: 0px;">Annual Operating Expenses</p><p style="font: bold 9pt Arial, sans-serif; margin-top: 0px">(expenses that you pay each year as a % of the value of your investment)</p>~ http://www.proofPlus.com/role/OperatingExpensesS000007465_NFFAGoldFundClassZPRO01 column period compact * ~0.00540.00<font style="FONT-FAMILY: Times New Roman" size="3">Based on estimated amounts for the current fiscal year.</font>0.0013<font style="FONT-FAMILY: Times New Roman" size="3">Based on historical expenses, adjusted to reflect current fees.</font><font style="FONT-FAMILY: Times New Roman" size="3">remain in effect for at least one year from the effective date of the prospectus, and will remain in effect thereafter as long as FMR's contract with the subsidiary is in place, and neither SelectCo nor any of its affiliates retain the ability to be repaid with respect to this arrangement.</font>0.00030.0070<p style="font: normal 11pt 'Times New Roman', serif; color: #000000;">This <b>example</b> helps compare the cost of investing in the fund with the cost of investing in other funds. </p><p style="font: normal 11pt 'Times New Roman', serif; color: #000000;">Let's say, hypothetically, that the annual return for shares of the fund is 5% and that your shareholder fees and the annual operating expenses for shares of the fund are exactly as described in the fee table. This example illustrates the effect of fees and expenses, but is not meant to suggest actual or expected fees and expenses or returns, all of which may vary. For every $10,000 you invested, here's how much you would pay in total expenses if you sell all of your shares at the end of each time period indicated: </p>72224390871~ http://www.proofPlus.com/role/ExpenseExampleS000007465_NFFAGoldFundClassZPRO01 column period compact * ~<p style="font: bold 9pt Arial, sans-serif; margin-top: 0px">Sell All Shares</p><font style="font: bold 16pt Arial, Helvetica, sans-serif;"><b>Portfolio Turnover</b></font>0.13<p style="font: normal 11pt 'Times New Roman', serif; color: #000000;">The fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when fund shares are held in a taxable account. These costs, which are not reflected in annual operating expenses or in the example, affect the fund's performance. During the most recent fiscal year, the fund's portfolio turnover rate was 13% of the average value of its portfolio. </p><font style="font: bold 16pt Arial, Helvetica, sans-serif;"><b>Principal Investment Strategies</b></font><font style="FONT-FAMILY: Times New Roman" size="3">Normally investing at least 80% of assets in securities of companies principally engaged in gold-related activities, and in gold bullion or coins.</font><ul style="font: normal 11pt 'Times New Roman', serif; color: #000000;"><li style="padding-bottom: 10px;">Normally investing primarily in common stocks and in certain precious metals.</li></ul><ul style="font: normal 11pt 'Times New Roman', serif; color: #000000;"><li style="padding-bottom: 10px;">Investing primarily in companies engaged in exploration, mining, processing, or dealing in gold, or to a lesser degree, in silver, platinum, diamonds, or other precious metals and minerals.</li></ul><ul style="font: normal 11pt 'Times New Roman', serif; color: #000000;"><li style="padding-bottom: 10px;">Normally investing at least 80% of assets in securities of companies principally engaged in gold-related activities, and in gold bullion or coins.</li></ul><ul style="font: normal 11pt 'Times New Roman', serif; color: #000000;"><li style="padding-bottom: 10px;">Investing up to 25% of assets in gold and other precious metals through a wholly-owned subsidiary organized under the laws of the Cayman Islands.</li></ul><ul style="font: normal 11pt 'Times New Roman', serif; color: #000000;"><li style="padding-bottom: 10px;">Potentially investing in other precious metals, instruments whose value is linked to the price of precious metals, and securities of companies that manufacture and distribute precious metal and minerals products (such as jewelry, watches, and metal foil and leaf) and companies that invest in other companies engaged in gold and other precious metal and mineral-related activities.</li></ul><ul style="font: normal 11pt 'Times New Roman', serif; color: #000000;"><li style="padding-bottom: 10px;">Investing in domestic and foreign issuers.</li></ul><ul style="font: normal 11pt 'Times New Roman', serif; color: #000000;"><li style="padding-bottom: 10px;">Using fundamental analysis of factors such as each issuer's financial condition and industry position, as well as market and economic conditions, to select investments.</li></ul><font style="font: bold 16pt Arial, Helvetica, sans-serif;"><b>Principal Investment Risks</b></font><font style="FONT-FAMILY: Times New Roman" size="3">In addition, the fund is classified as non-diversified under the Investment Company Act of 1940, which means that it has the ability to invest a greater portion of assets in securities of a smaller number of individual issuers than a diversified fund. As a result, changes in the market value of a single investment could cause greater fluctuations in share price than would occur in a more diversified fund.</font><font style="FONT-FAMILY: Times New Roman" size="3">An investment in the fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</font><font style="FONT-FAMILY: Times New Roman" size="3">You could lose money by investing in the fund.</font><ul style="font: normal 11pt 'Times New Roman', serif; color: #000000;"><li><b><i>Stock Market Volatility.</i></b> Stock markets are volatile and can decline significantly in response to adverse issuer, political, regulatory, market, or economic developments. Different parts of the market, including different market sectors, and different types of securities can react differently to these developments.</li></ul><ul style="font: normal 11pt 'Times New Roman', serif; color: #000000;"><li><b><i>Foreign Exposure.</i></b> Foreign markets, particularly emerging markets, can be more volatile than the U.S. market due to increased risks of adverse issuer, political, regulatory, market, or economic developments and can perform differently from the U.S. market. Emerging markets can be subject to greater social, economic, regulatory, and political uncertainties and can be extremely volatile. Foreign exchange rates also can be extremely volatile. </li></ul><ul style="font: normal 11pt 'Times New Roman', serif; color: #000000;"><li><b><i>Gold Industry Concentration.</i></b> The gold industry can be significantly affected by international monetary and political developments such as currency devaluations or revaluations, central bank movements, economic and social conditions within a country, trade imbalances, or trade or currency restrictions between countries, as well as supply and demand for gold and operational costs associated with mining.</li></ul><ul style="font: normal 11pt 'Times New Roman', serif; color: #000000;"><li><b><i>Subsidiary Risk.</i></b> Investment in an unregistered subsidiary is not subject to the investor protections of the Investment Company Act of 1940 (1940 Act) and is subject to the risks associated with the gold industry. Changes in tax and other laws could negatively affect investments in the subsidiary.</li></ul><ul style="font: normal 11pt 'Times New Roman', serif; color: #000000;"><li><b><i>Issuer-Specific Changes.</i></b> The value of an individual security or particular type of security can be more volatile than, and can perform differently from, the market as a whole. The value of securities of smaller issuers can be more volatile than that of larger issuers. </li></ul><p style="font: normal 11pt 'Times New Roman', serif; color: #000000;">In addition, the fund is classified as non-diversified under the Investment Company Act of 1940, which means that it has the ability to invest a greater portion of assets in securities of a smaller number of individual issuers than a diversified fund. As a result, changes in the market value of a single investment could cause greater fluctuations in share price than would occur in a more diversified fund.</p><p style="font: normal 11pt 'Times New Roman', serif; color: #000000;">An investment in the fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. You could lose money by investing in the fund. </p><font style="font: bold 16pt Arial, Helvetica, sans-serif;"><b>Performance</b></font><font style="FONT-FAMILY: Times New Roman" size="3">The information illustrates the changes in the performance of Class I shares from year to year and compares the performance of Class I shares to the performance of a securities market index and an additional index over various periods of time.</font><font style="FONT-FAMILY: Times New Roman" size="3">Past performance (before and after taxes) is not an indication of future performance.</font><font style="FONT-FAMILY: Times New Roman" size="3">institutional.fidelity.com</font><p style="font: normal 11pt 'Times New Roman', serif; color: #000000;">The following information is intended to help you understand the risks of investing in the fund. The information illustrates the changes in the performance of Class I shares from year to year and compares the performance of Class I shares to the performance of a securities market index and an additional index over various periods of time. The indexes have characteristics relevant to the fund's investment strategies. Index descriptions appear in the "Additional Index Information" section of the prospectus. Past performance (before and after taxes) is not an indication of future performance. </p><p style="font: normal 11pt 'Times New Roman', serif; color: #000000;">Visit institutional.fidelity.com for more recent performance information.</p><p style="font: normal 11pt 'Times New Roman', serif; color: #000000;">Performance history will be available for Class Z after Class Z has been in operation for one calendar year.</p><p style="font:bold 11pt Arial, sans-serif; margin-bottom: 0px;">Year-by-Year Returns*</p><p style="font: bold 9pt Arial, sans-serif; margin-top: 0px">Calendar Years</p>-0.20530.38030.3532-0.1628-0.1236-0.5138-0.0846-0.17820.47290.0858~ http://www.proofPlus.com/role/AnnualTotalReturnsBarChartS000007465_NFFAGoldFundClassZPRO01 column period compact * ~Highest Quarter Return0.41012016-03-31Lowest Quarter Return-0.37342013-06-30Year-to-Date Return-0.08092018-06-30<table style="font: normal 9pt Arial, sans-serif;" border="0" cellspacing="5" cellpadding="0" width="745"><tr><td align="left" valign="top">During the periods shown in the chart:</td><td align="right" valign="top">Returns</td><td align="right" valign="top">Quarter ended</td></tr><tr><td align="left" valign="top">Highest Quarter Return</td><td align="right" valign="top" >41.01%</td><td align="right" valign="top">March 31, 2016</td></tr><tr><td align="left" valign="top">Lowest Quarter Return</td><td align="right" valign="top">-37.34%</td><td align="right" valign="top">June 30, 2013</td></tr><tr><td align="left" valign="top">Year-to-Date Return</td><td align="right" valign="top">-8.09%</td><td align="right" valign="top">June 30, 2018</td></tr></table><font style="FONT-FAMILY: Times New Roman" size="3">* The returns shown above are for Class I, which is not offered through this prospectus. Class Z would have substantially similar annual returns to Class I because the classes are invested in the same portfolio of securities. Class Z's returns would differ from Class I's returns to the extent that the classes do not have the same expenses.</font><font style="font: bold 16pt Arial, Helvetica, sans-serif;"><b>Average Annual Returns*</b></font><font style="FONT-FAMILY: Times New Roman" size="3">After-tax returns are calculated using the historical highest individual federal marginal income tax rates, but do not reflect the impact of state or local taxes.</font><font style="FONT-FAMILY: Times New Roman" size="3">The after-tax returns shown are not relevant if you hold your shares in a retirement account or in another tax-deferred arrangement, such as an employee benefit plan (profit sharing, 401(k), or 403(b) plan).</font><font style="FONT-FAMILY: Times New Roman" size="3">Return After Taxes on Distributions and Sale of Fund Shares may be higher than other returns for the same period due to a tax benefit of realizing a capital loss upon the sale of fund shares.</font>~ http://www.proofPlus.com/role/AverageAnnualTotalReturnsS000007465_NFFAGoldFundClassZPRO01 column period compact * ~<font style="FONT-FAMILY: Times New Roman" ><b>Return Before Taxes</b></font><font style="FONT-FAMILY: Times New Roman" ><b>Gold Portfolio</b></font>0.0858-0.1017-0.0441<font style="FONT-FAMILY: Times New Roman" ><b>Return After Taxes on Distributions</b></font><font style="FONT-FAMILY: Times New Roman" ><b>Gold Portfolio</b></font>0.0850-0.1044-0.0494<font style="FONT-FAMILY: Times New Roman" ><b>Return After Taxes on Distributions and Sale of Fund Shares</b></font><font style="FONT-FAMILY: Times New Roman" ><b>Gold Portfolio</b></font>0.0488-0.0742-0.02980.21830.15790.08500.1159-0.0989-0.0479<p style="font: normal 11pt 'Times New Roman', serif; color: #000000;">After-tax returns are calculated using the historical highest individual federal marginal income tax rates, but do not reflect the impact of state or local taxes. Actual after-tax returns may differ depending on your individual circumstances. The after-tax returns shown are not relevant if you hold your shares in a retirement account or in another tax-deferred arrangement, such as an employee benefit plan (profit sharing, 401(k), or 403(b) plan). Return After Taxes on Distributions and Sale of Fund Shares may be higher than other returns for the same period due to a tax benefit of realizing a capital loss upon the sale of fund shares. </p><p style="font: bold 9pt Arial, sans-serif; margin-top: 0px">For the periods ended December 31, 2017</p><p style="font: normal 11pt 'Times New Roman', serif; color: #000000;"><i>* The returns shown above are for Class I, which is not offered through this prospectus</i>. Class Z <i>would have substantially similar annual returns to Class I because the classes are invested in the same portfolio of securities. Class Z's returns</i> <i>would differ from Class I's returns to the extent that</i> t<i>he classes do not have the same expenses.</i></p><p style="font: bold 20pt Arial, Helvetica, sans-serif;">Fund Summary</p><p style="font: normal 12pt Arial, Helvetica, sans-serif;"><b>Fund/Class</b>:<br/><b>Materials Portfolio</b>/Fidelity Advisor® Materials Fund Z</p><font style="font: bold 16pt Arial, Helvetica, sans-serif;">Investment Objective</font><p style="font: normal 11pt 'Times New Roman', serif; color: #000000;">The fund seeks capital appreciation.</p><font style="font: bold 16pt Arial, Helvetica, sans-serif;"><b>Fee Table</b></font><p style="font: normal 11pt 'Times New Roman', serif; color: #000000;">The following table describes the fees and expenses that may be incurred when you buy and hold shares of the fund. In addition to the fees and expenses described below, your broker may also require you to pay brokerage commissions on purchases and sales of certain share classes of the fund. </p><p style="font: bold 11pt Arial, sans-serif; margin-bottom: 0px;">Shareholder fees</p><p style="font: bold 9pt Arial, sans-serif; margin-top: 0px"></p>~ http://www.proofPlus.com/role/ShareholderFeesS000007469_NFFAMaterialsFundClassZPRO01 column period compact * ~0<p style="font: bold 11pt Arial, sans-serif; margin-bottom: 0px;">Annual Operating Expenses</p><p style="font: bold 9pt Arial, sans-serif; margin-top: 0px">(expenses that you pay each year as a % of the value of your investment)</p>~ http://www.proofPlus.com/role/OperatingExpensesS000007469_NFFAMaterialsFundClassZPRO01 column period compact * ~0.00540.00<font style="FONT-FAMILY: Times New Roman" size="3">Based on estimated amounts for the current fiscal year.</font>0.00110.0065<p style="font: normal 11pt 'Times New Roman', serif; color: #000000;">This <b>example</b> helps compare the cost of investing in the fund with the cost of investing in other funds. </p><p style="font: normal 11pt 'Times New Roman', serif; color: #000000;">Let's say, hypothetically, that the annual return for shares of the fund is 5% and that your shareholder fees and the annual operating expenses for shares of the fund are exactly as described in the fee table. This example illustrates the effect of fees and expenses, but is not meant to suggest actual or expected fees and expenses or returns, all of which may vary. For every $10,000 you invested, here's how much you would pay in total expenses if you sell all of your shares at the end of each time period indicated: </p>66208362810~ http://www.proofPlus.com/role/ExpenseExampleS000007469_NFFAMaterialsFundClassZPRO01 column period compact * ~<p style="font: bold 9pt Arial, sans-serif; margin-top: 0px">Sell All Shares</p><font style="font: bold 16pt Arial, Helvetica, sans-serif;"><b>Portfolio Turnover</b></font>0.67<p style="font: normal 11pt 'Times New Roman', serif; color: #000000;">The fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when fund shares are held in a taxable account. These costs, which are not reflected in annual operating expenses or in the example, affect the fund's performance. During the most recent fiscal year, the fund's portfolio turnover rate was 67% of the average value of its portfolio. </p><font style="font: bold 16pt Arial, Helvetica, sans-serif;"><b>Principal Investment Strategies</b></font><font style="FONT-FAMILY: Times New Roman" size="3">Normally investing at least 80% of assets in securities of companies principally engaged in the manufacture, mining, processing, or distribution of raw materials and intermediate goods.</font><ul style="font: normal 11pt 'Times New Roman', serif; color: #000000;"><li style="padding-bottom: 10px;">Normally investing primarily in common stocks.</li></ul><ul style="font: normal 11pt 'Times New Roman', serif; color: #000000;"><li style="padding-bottom: 10px;">Normally investing at least 80% of assets in securities of companies principally engaged in the manufacture, mining, processing, or distribution of raw materials and intermediate goods.</li></ul><ul style="font: normal 11pt 'Times New Roman', serif; color: #000000;"><li style="padding-bottom: 10px;">Investing in domestic and foreign issuers.</li></ul><ul style="font: normal 11pt 'Times New Roman', serif; color: #000000;"><li style="padding-bottom: 10px;">Using fundamental analysis of factors such as each issuer's financial condition and industry position, as well as market and economic conditions, to select investments.</li></ul><font style="font: bold 16pt Arial, Helvetica, sans-serif;"><b>Principal Investment Risks</b></font><font style="FONT-FAMILY: Times New Roman" size="3">In addition, the fund is classified as non-diversified under the Investment Company Act of 1940, which means that it has the ability to invest a greater portion of assets in securities of a smaller number of individual issuers than a diversified fund. As a result, changes in the market value of a single investment could cause greater fluctuations in share price than would occur in a more diversified fund.</font><font style="FONT-FAMILY: Times New Roman" size="3">An investment in the fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</font><font style="FONT-FAMILY: Times New Roman" size="3">You could lose money by investing in the fund.</font><ul style="font: normal 11pt 'Times New Roman', serif; color: #000000;"><li><b><i>Stock Market Volatility.</i></b> Stock markets are volatile and can decline significantly in response to adverse issuer, political, regulatory, market, or economic developments. Different parts of the market, including different market sectors, and different types of securities can react differently to these developments.</li></ul><ul style="font: normal 11pt 'Times New Roman', serif; color: #000000;"><li><b><i>Foreign Exposure.</i></b> Foreign markets can be more volatile than the U.S. market due to increased risks of adverse issuer, political, regulatory, market, or economic developments and can perform differently from the U.S. market. </li></ul><ul style="font: normal 11pt 'Times New Roman', serif; color: #000000;"><li><b><i>Materials Industry Concentration.</i></b> The materials industries can be significantly affected by the level and volatility of commodity prices, the exchange value of the dollar, import and export controls, worldwide competition, liability for environmental damage, depletion of resources, and mandated expenditures for safety and pollution control.</li></ul><ul style="font: normal 11pt 'Times New Roman', serif; color: #000000;"><li><b><i>Issuer-Specific Changes.</i></b> The value of an individual security or particular type of security can be more volatile than, and can perform differently from, the market as a whole. The value of securities of smaller issuers can be more volatile than that of larger issuers. </li></ul><p style="font: normal 11pt 'Times New Roman', serif; color: #000000;">In addition, the fund is classified as non-diversified under the Investment Company Act of 1940, which means that it has the ability to invest a greater portion of assets in securities of a smaller number of individual issuers than a diversified fund. As a result, changes in the market value of a single investment could cause greater fluctuations in share price than would occur in a more diversified fund.</p><p style="font: normal 11pt 'Times New Roman', serif; color: #000000;">An investment in the fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. You could lose money by investing in the fund. </p><font style="font: bold 16pt Arial, Helvetica, sans-serif;"><b>Performance</b></font><font style="FONT-FAMILY: Times New Roman" size="3">The information illustrates the changes in the performance of Class I shares from year to year and compares the performance of Class I shares to the performance of a securities market index and an additional index over various periods of time.</font><font style="FONT-FAMILY: Times New Roman" size="3">Past performance (before and after taxes) is not an indication of future performance.</font><font style="FONT-FAMILY: Times New Roman" size="3">institutional.fidelity.com</font><p style="font: normal 11pt 'Times New Roman', serif; color: #000000;">The following information is intended to help you understand the risks of investing in the fund. The information illustrates the changes in the performance of Class I shares from year to year and compares the performance of Class I shares to the performance of a securities market index and an additional index over various periods of time. The indexes have characteristics relevant to the fund's investment strategies. Index descriptions appear in the "Additional Index Information" section of the prospectus. Past performance (before and after taxes) is not an indication of future performance. </p><p style="font: normal 11pt 'Times New Roman', serif; color: #000000;">Visit institutional.fidelity.com for more recent performance information.</p><p style="font: normal 11pt 'Times New Roman', serif; color: #000000;">Performance history will be available for Class Z after Class Z has been in operation for one calendar year.</p><p style="font:bold 11pt Arial, sans-serif; margin-bottom: 0px;">Year-by-Year Returns*</p><p style="font: bold 9pt Arial, sans-serif; margin-top: 0px">Calendar Years</p>-0.47550.78700.2811-0.08200.20170.2192-0.0005-0.08650.12040.2621~ http://www.proofPlus.com/role/AnnualTotalReturnsBarChartS000007469_NFFAMaterialsFundClassZPRO01 column period compact * ~Highest Quarter Return0.26472009-09-30Lowest Quarter Return-0.30132008-12-31Year-to-Date Return-0.04502018-06-30<table style="font: normal 9pt Arial, sans-serif;" border="0" cellspacing="5" cellpadding="0" width="745"><tr><td align="left" valign="top">During the periods shown in the chart:</td><td align="right" valign="top">Returns</td><td align="right" valign="top">Quarter ended</td></tr><tr><td align="left" valign="top">Highest Quarter Return</td><td align="right" valign="top" >26.47%</td><td align="right" valign="top">September 30, 2009</td></tr><tr><td align="left" valign="top">Lowest Quarter Return</td><td align="right" valign="top">-30.13%</td><td align="right" valign="top">December 31, 2008</td></tr><tr><td align="left" valign="top">Year-to-Date Return</td><td align="right" valign="top">-4.50%</td><td align="right" valign="top">June 30, 2018</td></tr></table><font style="FONT-FAMILY: Times New Roman" size="3">* The returns shown above are for Class I, which is not offered through this prospectus. Class Z would have substantially similar annual returns to Class I because the classes are invested in the same portfolio of securities. Class Z's returns would differ from Class I's returns to the extent that the classes do not have the same expenses.</font><font style="font: bold 16pt Arial, Helvetica, sans-serif;"><b>Average Annual Returns*</b></font><font style="FONT-FAMILY: Times New Roman" size="3">After-tax returns are calculated using the historical highest individual federal marginal income tax rates, but do not reflect the impact of state or local taxes.</font><font style="FONT-FAMILY: Times New Roman" size="3">The after-tax returns shown are not relevant if you hold your shares in a retirement account or in another tax-deferred arrangement, such as an employee benefit plan (profit sharing, 401(k), or 403(b) plan).</font>~ http://www.proofPlus.com/role/AverageAnnualTotalReturnsS000007469_NFFAMaterialsFundClassZPRO01 column period compact * ~<font style="FONT-FAMILY: Times New Roman" ><b>Return Before Taxes</b></font><font style="FONT-FAMILY: Times New Roman" ><b>Materials Portfolio</b></font>0.26210.09500.0762<font style="FONT-FAMILY: Times New Roman" ><b>Return After Taxes on Distributions</b></font><font style="FONT-FAMILY: Times New Roman" ><b>Materials Portfolio</b></font>0.24610.08420.0696<font style="FONT-FAMILY: Times New Roman" ><b>Return After Taxes on Distributions and Sale of Fund Shares</b></font><font style="FONT-FAMILY: Times New Roman" ><b>Materials Portfolio</b></font>0.16020.07350.06110.21830.15790.08500.23590.12350.0676<p style="font: normal 11pt 'Times New Roman', serif; color: #000000;">After-tax returns are calculated using the historical highest individual federal marginal income tax rates, but do not reflect the impact of state or local taxes. Actual after-tax returns may differ depending on your individual circumstances. The after-tax returns shown are not relevant if you hold your shares in a retirement account or in another tax-deferred arrangement, such as an employee benefit plan (profit sharing, 401(k), or 403(b) plan). </p><p style="font: bold 9pt Arial, sans-serif; margin-top: 0px">For the periods ended December 31, 2017</p><p style="font: normal 11pt 'Times New Roman', serif; color: #000000;"><i>* The returns shown above are for Class I, which is not offered through this prospectus</i>. <i>Class Z would have substantially similar annual returns to Class I because the classes are invested in the same portfolio of securities. Class Z's returns</i> <i>would differ from Class I's returns to the extent that</i> <i>the classes do not have the same expenses.</i></p><p style="font: bold 20pt Arial, Helvetica, sans-serif;">Fund Summary</p><p style="font: normal 12pt Arial, Helvetica, sans-serif;"><b>Fund/Class</b>:<br/><b>Telecommunications Portfolio</b>/Fidelity Advisor® Telecommunications Fund Z</p><font style="font: bold 16pt Arial, Helvetica, sans-serif;">Investment Objective</font><p style="font: normal 11pt 'Times New Roman', serif; color: #000000;">The fund seeks capital appreciation.</p><font style="font: bold 16pt Arial, Helvetica, sans-serif;"><b>Fee Table</b></font><p style="font: normal 11pt 'Times New Roman', serif; color: #000000;">The following table describes the fees and expenses that may be incurred when you buy and hold shares of the fund. In addition to the fees and expenses described below, your broker may also require you to pay brokerage commissions on purchases and sales of certain share classes of the fund. </p><p style="font: bold 11pt Arial, sans-serif; margin-bottom: 0px;">Shareholder fees</p><p style="font: bold 9pt Arial, sans-serif; margin-top: 0px"></p>~ http://www.proofPlus.com/role/ShareholderFeesS000007485_NFFATelecommunicationsFundClassZPRO01 column period compact * ~0<p style="font: bold 11pt Arial, sans-serif; margin-bottom: 0px;">Annual Operating Expenses</p><p style="font: bold 9pt Arial, sans-serif; margin-top: 0px">(expenses that you pay each year as a % of the value of your investment)</p>~ http://www.proofPlus.com/role/OperatingExpensesS000007485_NFFATelecommunicationsFundClassZPRO01 column period compact * ~0.00540.00<font style="FONT-FAMILY: Times New Roman" size="3">Based on estimated amounts for the current fiscal year.</font>0.00140.0068<p style="font: normal 11pt 'Times New Roman', serif; color: #000000;">This <b>example</b> helps compare the cost of investing in the fund with the cost of investing in other funds. </p><p style="font: normal 11pt 'Times New Roman', serif; color: #000000;">Let's say, hypothetically, that the annual return for shares of the fund is 5% and that your shareholder fees and the annual operating expenses for shares of the fund are exactly as described in the fee table. This example illustrates the effect of fees and expenses, but is not meant to suggest actual or expected fees and expenses or returns, all of which may vary. For every $10,000 you invested, here's how much you would pay in total expenses if you sell all of your shares at the end of each time period indicated: </p>69218379847~ http://www.proofPlus.com/role/ExpenseExampleS000007485_NFFATelecommunicationsFundClassZPRO01 column period compact * ~<p style="font: bold 9pt Arial, sans-serif; margin-top: 0px">Sell All Shares</p><font style="font: bold 16pt Arial, Helvetica, sans-serif;"><b>Portfolio Turnover</b></font>0.66<p style="font: normal 11pt 'Times New Roman', serif; color: #000000;">The fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when fund shares are held in a taxable account. These costs, which are not reflected in annual operating expenses or in the example, affect the fund's performance. During the most recent fiscal year, the fund's portfolio turnover rate was 66% of the average value of its portfolio. </p><font style="font: bold 16pt Arial, Helvetica, sans-serif;"><b>Principal Investment Strategies</b></font><font style="FONT-FAMILY: Times New Roman" size="3">Normally investing at least 80% of assets in securities of companies principally engaged in the development, manufacture, or sale of communications services or communications equipment.</font><ul style="font: normal 11pt 'Times New Roman', serif; color: #000000;"><li style="padding-bottom: 10px;">Normally investing primarily in common stocks.</li></ul><ul style="font: normal 11pt 'Times New Roman', serif; color: #000000;"><li style="padding-bottom: 10px;">Normally investing at least 80% of assets in securities of companies principally engaged in the development, manufacture, or sale of communications services or communications equipment.</li></ul><ul style="font: normal 11pt 'Times New Roman', serif; color: #000000;"><li style="padding-bottom: 10px;">Investing in domestic and foreign issuers.</li></ul><ul style="font: normal 11pt 'Times New Roman', serif; color: #000000;"><li style="padding-bottom: 10px;">Using fundamental analysis of factors such as each issuer's financial condition and industry position, as well as market and economic conditions, to select investments.</li></ul><font style="font: bold 16pt Arial, Helvetica, sans-serif;"><b>Principal Investment Risks</b></font><font style="FONT-FAMILY: Times New Roman" size="3">In addition, the fund is classified as non-diversified under the Investment Company Act of 1940, which means that it has the ability to invest a greater portion of assets in securities of a smaller number of individual issuers than a diversified fund. As a result, changes in the market value of a single investment could cause greater fluctuations in share price than would occur in a more diversified fund.</font><font style="FONT-FAMILY: Times New Roman" size="3">An investment in the fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</font><font style="FONT-FAMILY: Times New Roman" size="3">You could lose money by investing in the fund.</font><ul style="font: normal 11pt 'Times New Roman', serif; color: #000000;"><li><b><i>Stock Market Volatility.</i></b> Stock markets are volatile and can decline significantly in response to adverse issuer, political, regulatory, market, or economic developments. Different parts of the market, including different market sectors, and different types of securities can react differently to these developments.</li></ul><ul style="font: normal 11pt 'Times New Roman', serif; color: #000000;"><li><b><i>Foreign Exposure.</i></b> Foreign markets can be more volatile than the U.S. market due to increased risks of adverse issuer, political, regulatory, market, or economic developments and can perform differently from the U.S. market. </li></ul><ul style="font: normal 11pt 'Times New Roman', serif; color: #000000;"><li><b><i>Telecom Services Industry Concentration.</i></b> The telecom services industry is subject to government regulation and can be significantly affected by intense competition and technology changes.</li></ul><ul style="font: normal 11pt 'Times New Roman', serif; color: #000000;"><li><b><i>Issuer-Specific Changes.</i></b> The value of an individual security or particular type of security can be more volatile than, and can perform differently from, the market as a whole. The value of securities of smaller issuers can be more volatile than that of larger issuers. </li></ul><p style="font: normal 11pt 'Times New Roman', serif; color: #000000;">In addition, the fund is classified as non-diversified under the Investment Company Act of 1940, which means that it has the ability to invest a greater portion of assets in securities of a smaller number of individual issuers than a diversified fund. As a result, changes in the market value of a single investment could cause greater fluctuations in share price than would occur in a more diversified fund.</p><p style="font: normal 11pt 'Times New Roman', serif; color: #000000;">An investment in the fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. You could lose money by investing in the fund. </p><font style="font: bold 16pt Arial, Helvetica, sans-serif;"><b>Performance</b></font><font style="FONT-FAMILY: Times New Roman" size="3">The information illustrates the changes in the performance of Class I shares from year to year and compares the performance of Class I shares to the performance of a securities market index and an additional index over various periods of time.</font><font style="FONT-FAMILY: Times New Roman" size="3">Past performance (before and after taxes) is not an indication of future performance.</font><font style="FONT-FAMILY: Times New Roman" size="3">institutional.fidelity.com</font><p style="font: normal 11pt 'Times New Roman', serif; color: #000000;">The following information is intended to help you understand the risks of investing in the fund. The information illustrates the changes in the performance of Class I shares from year to year and compares the performance of Class I shares to the performance of a securities market index and an additional index over various periods of time. The indexes have characteristics relevant to the fund's investment strategies. Index descriptions appear in the "Additional Index Information" section of the prospectus. Past performance (before and after taxes) is not an indication of future performance. </p><p style="font: normal 11pt 'Times New Roman', serif; color: #000000;">Visit institutional.fidelity.com for more recent performance information.</p><p style="font: normal 11pt 'Times New Roman', serif; color: #000000;">Performance history will be available for Class Z after Class Z has been in operation for one calendar year.</p><p style="font:bold 11pt Arial, sans-serif; margin-bottom: 0px;">Year-by-Year Returns*</p><p style="font: bold 9pt Arial, sans-serif; margin-top: 0px">Calendar Years</p>-0.47630.51710.1838-0.04250.18630.21460.03560.02310.22800.0168~ http://www.proofPlus.com/role/AnnualTotalReturnsBarChartS000007485_NFFATelecommunicationsFundClassZPRO01 column period compact * ~Highest Quarter Return0.18682009-06-30Lowest Quarter Return-0.21992008-12-31Year-to-Date Return-0.04182018-06-30<table style="font: normal 9pt Arial, sans-serif;" border="0" cellspacing="5" cellpadding="0" width="745"><tr><td align="left" valign="top">During the periods shown in the chart:</td><td align="right" valign="top">Returns</td><td align="right" valign="top">Quarter ended</td></tr><tr><td align="left" valign="top">Highest Quarter Return</td><td align="right" valign="top" >18.68%</td><td align="right" valign="top">June 30, 2009</td></tr><tr><td align="left" valign="top">Lowest Quarter Return</td><td align="right" valign="top">-21.99%</td><td align="right" valign="top">December 31, 2008</td></tr><tr><td align="left" valign="top">Year-to-Date Return</td><td align="right" valign="top">-4.18%</td><td align="right" valign="top">June 30, 2018</td></tr></table><font style="FONT-FAMILY: Times New Roman" size="3">* The returns shown above are for Class I, which is not offered through this prospectus. Class Z would have substantially similar annual returns to Class I because the classes are invested in the same portfolio of securities. Class Z's returns would differ from Class I's returns to the extent that the classes do not have the same expenses.</font><font style="font: bold 16pt Arial, Helvetica, sans-serif;"><b>Average Annual Returns*</b></font><font style="FONT-FAMILY: Times New Roman" size="3">After-tax returns are calculated using the historical highest individual federal marginal income tax rates, but do not reflect the impact of state or local taxes.</font><font style="FONT-FAMILY: Times New Roman" size="3">The after-tax returns shown are not relevant if you hold your shares in a retirement account or in another tax-deferred arrangement, such as an employee benefit plan (profit sharing, 401(k), or 403(b) plan).</font><font style="FONT-FAMILY: Times New Roman" size="3">Return After Taxes on Distributions and Sale of Fund Shares may be higher than other returns for the same period due to a tax benefit of realizing a capital loss upon the sale of fund shares.</font>~ http://www.proofPlus.com/role/AverageAnnualTotalReturnsS000007485_NFFATelecommunicationsFundClassZPRO01 column period compact * ~<font style="FONT-FAMILY: Times New Roman" ><b>Return Before Taxes</b></font><font style="FONT-FAMILY: Times New Roman" ><b>Telecommunications Portfolio</b></font>0.01680.09950.0555<font style="FONT-FAMILY: Times New Roman" ><b>Return After Taxes on Distributions</b></font><font style="FONT-FAMILY: Times New Roman" ><b>Telecommunications Portfolio</b></font>-0.02520.08210.0458<font style="FONT-FAMILY: Times New Roman" ><b>Return After Taxes on Distributions and Sale of Fund Shares</b></font><font style="FONT-FAMILY: Times New Roman" ><b>Telecommunications Portfolio</b></font>0.04340.07700.04340.21830.15790.0850-0.05710.08930.0463<p style="font: normal 11pt 'Times New Roman', serif; color: #000000;">After-tax returns are calculated using the historical highest individual federal marginal income tax rates, but do not reflect the impact of state or local taxes. Actual after-tax returns may differ depending on your individual circumstances. The after-tax returns shown are not relevant if you hold your shares in a retirement account or in another tax-deferred arrangement, such as an employee benefit plan (profit sharing, 401(k), or 403(b) plan). Return After Taxes on Distributions and Sale of Fund Shares may be higher than other returns for the same period due to a tax benefit of realizing a capital loss upon the sale of fund shares. </p><p style="font: bold 9pt Arial, sans-serif; margin-top: 0px">For the periods ended December 31, 2017</p><p style="font: normal 11pt 'Times New Roman', serif; color: #000000;"><i>* The returns shown above are for Class I, which is not offered through this prospectus</i>. <i>Class Z would have substantially similar annual returns to Class I because the classes are invested in the same portfolio of securities. Class Z's returns would differ from Class I's returns to the extent that</i> <i>the classes do not have the same expenses.</i></p><p style="font: bold 20pt Arial, Helvetica, sans-serif;">Fund Summary</p><p style="font: normal 12pt Arial, Helvetica, sans-serif;"><b>Fund/Class</b>:<br/><b>Fidelity® International Real Estate Fund</b>/Fidelity Advisor® International Real Estate Fund Z</p><font style="font: bold 16pt Arial, Helvetica, sans-serif;">Investment Objective</font><p style="font: normal 11pt 'Times New Roman', serif; color: #000000;">The fund seeks capital appreciation.</p><font style="font: bold 16pt Arial, Helvetica, sans-serif;"><b>Fee Table</b></font><p style="font: normal 11pt 'Times New Roman', serif; color: #000000;">The following table describes the fees and expenses that may be incurred when you buy and hold shares of the fund. In addition to the fees and expenses described below, your broker may also require you to pay brokerage commissions on purchases and sales of certain share classes of the fund. </p><p style="font: bold 11pt Arial, sans-serif; margin-bottom: 0px;">Shareholder fees</p><p style="font: bold 9pt Arial, sans-serif; margin-top: 0px"></p>~ http://www.proofPlus.com/role/ShareholderFeesS000039314_NFFidelityAdvisorInternationalRealEstateFundClassZPRO01 column period compact * ~0<p style="font: bold 11pt Arial, sans-serif; margin-bottom: 0px;">Annual Operating Expenses</p><p style="font: bold 9pt Arial, sans-serif; margin-top: 0px">(expenses that you pay each year as a % of the value of your investment)</p>~ http://www.proofPlus.com/role/OperatingExpensesS000039314_NFFidelityAdvisorInternationalRealEstateFundClassZPRO01 column period compact * ~0.00690.00<font style="FONT-FAMILY: Times New Roman" size="3">Based on estimated amounts for the current fiscal year.</font>0.00170.0086<p style="font: normal 11pt 'Times New Roman', serif; color: #000000;">This <b>example</b> helps compare the cost of investing in the fund with the cost of investing in other funds. </p><p style="font: normal 11pt 'Times New Roman', serif; color: #000000;">Let's say, hypothetically, that the annual return for shares of the fund is 5% and that your shareholder fees and the annual operating expenses for shares of the fund are exactly as described in the fee table. This example illustrates the effect of fees and expenses, but is not meant to suggest actual or expected fees and expenses or returns, all of which may vary. For every $10,000 you invested, here's how much you would pay in total expenses if you sell all of your shares at the end of each time period indicated: </p>882744771061~ http://www.proofPlus.com/role/ExpenseExampleS000039314_NFFidelityAdvisorInternationalRealEstateFundClassZPRO01 column period compact * ~<p style="font: bold 9pt Arial, sans-serif; margin-top: 0px">Sell All Shares</p><font style="font: bold 16pt Arial, Helvetica, sans-serif;"><b>Portfolio Turnover</b></font>0.56<p style="font: normal 11pt 'Times New Roman', serif; color: #000000;">The fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when fund shares are held in a taxable account. These costs, which are not reflected in annual operating expenses or in the example, affect the fund's performance. During the most recent fiscal year, the fund's portfolio turnover rate was 56% of the average value of its portfolio. </p><font style="font: bold 16pt Arial, Helvetica, sans-serif;"><b>Principal Investment Strategies</b></font><font style="FONT-FAMILY: Times New Roman" size="3">Normally investing at least 80% of assets in securities of companies principally engaged in the real estate industry and other real estate related investments.</font><ul style="font: normal 11pt 'Times New Roman', serif; color: #000000;"><li style="padding-bottom: 10px;">Normally investing primarily in non-U.S. securities.</li></ul><ul style="font: normal 11pt 'Times New Roman', serif; color: #000000;"><li style="padding-bottom: 10px;">Normally investing primarily in common stocks.</li></ul><ul style="font: normal 11pt 'Times New Roman', serif; color: #000000;"><li style="padding-bottom: 10px;">Normally investing at least 80% of assets in securities of companies principally engaged in the real estate industry and other real estate related investments.</li></ul><ul style="font: normal 11pt 'Times New Roman', serif; color: #000000;"><li style="padding-bottom: 10px;">Allocating investments across different countries and regions.</li></ul><ul style="font: normal 11pt 'Times New Roman', serif; color: #000000;"><li style="padding-bottom: 10px;">Using fundamental analysis of factors such as each issuer's financial condition and industry position, as well as market and economic conditions, to select investments.</li></ul><font style="font: bold 16pt Arial, Helvetica, sans-serif;"><b>Principal Investment Risks</b></font><font style="FONT-FAMILY: Times New Roman" size="3">In addition, the fund is classified as non-diversified under the Investment Company Act of 1940, which means that it has the ability to invest a greater portion of assets in securities of a smaller number of individual issuers than a diversified fund. As a result, changes in the market value of a single investment could cause greater fluctuations in share price than would occur in a more diversified fund.</font><font style="FONT-FAMILY: Times New Roman" size="3">An investment in the fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</font><font style="FONT-FAMILY: Times New Roman" size="3">You could lose money by investing in the fund.</font><ul style="font: normal 11pt 'Times New Roman', serif; color: #000000;"><li><b><i>Stock Market Volatility.</i></b> Stock markets are volatile and can decline significantly in response to adverse issuer, political, regulatory, market, or economic developments. Different parts of the market, including different market sectors, and different types of securities can react differently to these developments.</li></ul><ul style="font: normal 11pt 'Times New Roman', serif; color: #000000;"><li><b><i>Foreign Exposure.</i></b> Foreign markets, particularly emerging markets, can be more volatile than the U.S. market due to increased risks of adverse issuer, political, regulatory, market, or economic developments and can perform differently from the U.S. market. Emerging markets can be subject to greater social, economic, regulatory, and political uncertainties and can be extremely volatile. Foreign exchange rates also can be extremely volatile. </li></ul><ul style="font: normal 11pt 'Times New Roman', serif; color: #000000;"><li><b><i>Real Estate Industry Concentration.</i></b> Changes in real estate values or economic downturns can have a significant negative effect on issuers in the real estate industry. The value of securities of issuers in the real estate industry can be affected by changes in real estate values and rental income, property taxes, interest rates, tax and regulatory requirements, and the management skill and creditworthiness of the issuer.</li></ul><ul style="font: normal 11pt 'Times New Roman', serif; color: #000000;"><li><b><i>Issuer-Specific Changes.</i></b> The value of an individual security or particular type of security can be more volatile than, and can perform differently from, the market as a whole. </li></ul><p style="font: normal 11pt 'Times New Roman', serif; color: #000000;">In addition, the fund is classified as non-diversified under the Investment Company Act of 1940, which means that it has the ability to invest a greater portion of assets in securities of a smaller number of individual issuers than a diversified fund. As a result, changes in the market value of a single investment could cause greater fluctuations in share price than would occur in a more diversified fund.</p><p style="font: normal 11pt 'Times New Roman', serif; color: #000000;">An investment in the fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. You could lose money by investing in the fund. </p><font style="font: bold 16pt Arial, Helvetica, sans-serif;"><b>Performance</b></font><font style="FONT-FAMILY: Times New Roman" size="3">The information illustrates the changes in the performance of Class I shares from year to year and compares the performance of Class I shares to the performance of a securities market index and an additional index over various periods of time.</font><font style="FONT-FAMILY: Times New Roman" size="3">Past performance (before and after taxes) is not an indication of future performance.</font><font style="FONT-FAMILY: Times New Roman" size="3">institutional.fidelity.com</font><p style="font: normal 11pt 'Times New Roman', serif; color: #000000;">The following information is intended to help you understand the risks of investing in the fund. The information illustrates the changes in the performance of Class I shares from year to year and compares the performance of Class I shares to the performance of a securities market index and an additional index over various periods of time. The indexes have characteristics relevant to the fund's investment strategies. Index descriptions appear in the "Additional Index Information" section of the prospectus. Past performance (before and after taxes) is not an indication of future performance. </p><p style="font: normal 11pt 'Times New Roman', serif; color: #000000;">Visit institutional.fidelity.com for more recent performance information.</p><p style="font: normal 11pt 'Times New Roman', serif; color: #000000;">Performance history will be available for Class Z after Class Z has been in operation for one calendar year.</p><p style="font:bold 11pt Arial, sans-serif; margin-bottom: 0px;">Year-by-Year Returns*</p><p style="font: bold 9pt Arial, sans-serif; margin-top: 0px">Calendar Years</p>-0.50600.35930.1456-0.22260.44220.12600.04280.0190-0.01470.2694~ http://www.proofPlus.com/role/AnnualTotalReturnsBarChartS000039314_NFFidelityAdvisorInternationalRealEstateFundClassZPRO01 column period compact * ~Highest Quarter Return0.35242009-06-30Lowest Quarter Return-0.24372008-12-31Year-to-Date Return0.00262018-06-30<table style="font: normal 9pt Arial, sans-serif;" border="0" cellspacing="5" cellpadding="0" width="745"><tr><td align="left" valign="top">During the periods shown in the chart:</td><td align="right" valign="top">Returns</td><td align="right" valign="top">Quarter ended</td></tr><tr><td align="left" valign="top">Highest Quarter Return</td><td align="right" valign="top" >35.24%</td><td align="right" valign="top">June 30, 2009</td></tr><tr><td align="left" valign="top">Lowest Quarter Return</td><td align="right" valign="top">-24.37%</td><td align="right" valign="top">December 31, 2008</td></tr><tr><td align="left" valign="top">Year-to-Date Return</td><td align="right" valign="top">0.26%</td><td align="right" valign="top">June 30, 2018</td></tr></table><font style="FONT-FAMILY: Times New Roman" size="3">* The returns shown above are for Class I, which is not offered through this prospectus. Class Z would have substantially similar annual returns to Class I because the classes are invested in the same portfolio of securities. Class Z's returns would differ from Class I's returns to the extent that the classes do not have the same expenses.</font><font style="font: bold 16pt Arial, Helvetica, sans-serif;"><b>Average Annual Returns*</b></font><font style="FONT-FAMILY: Times New Roman" size="3">After-tax returns are calculated using the historical highest individual federal marginal income tax rates, but do not reflect the impact of state or local taxes.</font><font style="FONT-FAMILY: Times New Roman" size="3">The after-tax returns shown are not relevant if you hold your shares in a retirement account or in another tax-deferred arrangement, such as an employee benefit plan (profit sharing, 401(k), or 403(b) plan).</font><font style="FONT-FAMILY: Times New Roman" size="3">Return After Taxes on Distributions and Sale of Fund Shares may be higher than other returns for the same period due to a tax benefit of realizing a capital loss upon the sale of fund shares.</font>~ http://www.proofPlus.com/role/AverageAnnualTotalReturnsS000039314_NFFidelityAdvisorInternationalRealEstateFundClassZPRO01 column period compact * ~<font style="FONT-FAMILY: Times New Roman" ><b>Return Before Taxes</b></font><font style="FONT-FAMILY: Times New Roman" ><b>Fidelity International Real Estate Fund</b></font>0.26940.08400.0259<font style="FONT-FAMILY: Times New Roman" ><b>Return After Taxes on Distributions</b></font><font style="FONT-FAMILY: Times New Roman" ><b>Fidelity International Real Estate Fund</b></font>0.25620.06860.0127<font style="FONT-FAMILY: Times New Roman" ><b>Return After Taxes on Distributions and Sale of Fund Shares</b></font><font style="FONT-FAMILY: Times New Roman" ><b>Fidelity International Real Estate Fund</b></font>0.15780.05970.01450.25290.08070.02100.21020.05870.0196<p style="font: normal 11pt 'Times New Roman', serif; color: #000000;">After-tax returns are calculated using the historical highest individual federal marginal income tax rates, but do not reflect the impact of state or local taxes. Actual after-tax returns may differ depending on your individual circumstances. The after-tax returns shown are not relevant if you hold your shares in a retirement account or in another tax-deferred arrangement, such as an employee benefit plan (profit sharing, 401(k), or 403(b) plan). Return After Taxes on Distributions and Sale of Fund Shares may be higher than other returns for the same period due to a tax benefit of realizing a capital loss upon the sale of fund shares. </p><p style="font: bold 9pt Arial, sans-serif; margin-top: 0px">For the periods ended December 31, 2017</p><p style="font: normal 11pt 'Times New Roman', serif; color: #000000;"><i>* The returns shown above are for Class I, which is not offered through this prospectus</i>. <i>Class Z would have substantially similar annual returns to Class I because the classes are invested in the same portfolio of securities. Class Z's returns</i> <i>would differ from Class I's returns to the extent that</i> <i>the classes do not have the same expenses.</i></p>Based on historical expenses, adjusted to reflect current fees.Based on estimated amounts for the current fiscal year.The fund may invest in a wholly-owned subsidiary. The subsidiary has entered into a separate contract with Fidelity Management &amp; Research Company (FMR), an affiliate of Fidelity SelectCo, LLC (SelectCo), the fund's investment adviser, for the management of its portfolio pursuant to which the subsidiary pays FMR a fee at an annual rate of 0.30% of its net assets. The subsidiary also pays certain other expenses including custody fees. SelectCo has contractually agreed to waive the fund's management fee in an amount equal to the management fee paid to FMR by the subsidiary. This arrangement will remain in effect for at least one year from the effective date of the prospectus, and will remain in effect thereafter as long as FMR's contract with the subsidiary is in place, and neither SelectCo nor any of its affiliates retain the ability to be repaid with respect to this arrangement. If FMR's contract with the subsidiary is terminated, SelectCo, in its sole discretion, may discontinue the arrangement. 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NF_FA Consumer Staples Fund_Class Z PRO-01 | Consumer Staples Portfolio
<p style="font: bold 20pt Arial, Helvetica, sans-serif;">Fund Summary</p><p style="font: normal 12pt Arial, Helvetica, sans-serif;"><b>Fund/Class</b>:<br/><b>Consumer Staples Portfolio</b>/Fidelity Advisor® Consumer Staples Fund Z</p>
<font style="font: bold 16pt Arial, Helvetica, sans-serif;">Investment Objective</font>

The fund seeks capital appreciation.

<font style="font: bold 16pt Arial, Helvetica, sans-serif;"><b>Fee Table</b></font>

The following table describes the fees and expenses that may be incurred when you buy and hold shares of the fund. In addition to the fees and expenses described below, your broker may also require you to pay brokerage commissions on purchases and sales of certain share classes of the fund.

<p style="font: bold 11pt Arial, sans-serif; margin-bottom: 0px;">Shareholder fees</p><p style="font: bold 9pt Arial, sans-serif; margin-top: 0px"></p>
Shareholder Fees {- Consumer Staples Portfolio}
NF_FA Consumer Staples Fund_Class Z PRO-01
Consumer Staples Portfolio
USD ($)
(fees paid directly from your investment) none
<p style="font: bold 11pt Arial, sans-serif; margin-bottom: 0px;">Annual Operating Expenses</p><p style="font: bold 9pt Arial, sans-serif; margin-top: 0px">(expenses that you pay each year as a % of the value of your investment)</p>
Annual Operating Expenses {- Consumer Staples Portfolio}
NF_FA Consumer Staples Fund_Class Z PRO-01
Consumer Staples Portfolio
Fidelity Advisor Consumer Staples Fund: Class Z
Management fee 0.54%
Distribution and/or Service (12b-1) fees none
Other expenses 0.10% [1]
Total annual operating expenses 0.64%
[1] Based on estimated amounts for the current fiscal year.

This example helps compare the cost of investing in the fund with the cost of investing in other funds.

Let's say, hypothetically, that the annual return for shares of the fund is 5% and that your shareholder fees and the annual operating expenses for shares of the fund are exactly as described in the fee table. This example illustrates the effect of fees and expenses, but is not meant to suggest actual or expected fees and expenses or returns, all of which may vary. For every $10,000 you invested, here's how much you would pay in total expenses if you sell all of your shares at the end of each time period indicated:

<p style="font: bold 9pt Arial, sans-serif; margin-top: 0px">Sell All Shares</p>
Expense Example {- Consumer Staples Portfolio}
NF_FA Consumer Staples Fund_Class Z PRO-01
Consumer Staples Portfolio
Fidelity Advisor Consumer Staples Fund: Class Z
USD ($)
1 year $ 65
3 years 205
5 years 357
10 years $ 798
<font style="font: bold 16pt Arial, Helvetica, sans-serif;"><b>Portfolio Turnover</b></font>

The fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when fund shares are held in a taxable account. These costs, which are not reflected in annual operating expenses or in the example, affect the fund's performance. During the most recent fiscal year, the fund's portfolio turnover rate was 76% of the average value of its portfolio.

<font style="font: bold 16pt Arial, Helvetica, sans-serif;"><b>Principal Investment Strategies</b></font>
  • Normally investing primarily in common stocks.
  • Normally investing at least 80% of assets in securities of companies principally engaged in the manufacture, sale, or distribution of consumer staples.
  • Investing in domestic and foreign issuers.
  • Using fundamental analysis of factors such as each issuer's financial condition and industry position, as well as market and economic conditions, to select investments.
<font style="font: bold 16pt Arial, Helvetica, sans-serif;"><b>Principal Investment Risks</b></font>
  • Stock Market Volatility. Stock markets are volatile and can decline significantly in response to adverse issuer, political, regulatory, market, or economic developments. Different parts of the market, including different market sectors, and different types of securities can react differently to these developments.
  • Foreign Exposure. Foreign markets can be more volatile than the U.S. market due to increased risks of adverse issuer, political, regulatory, market, or economic developments and can perform differently from the U.S. market.
  • Consumer Staples Industry Concentration. The consumer staples industries can be significantly affected by demographics and product trends, competitive pricing, food fads, marketing campaigns, environmental factors, government regulation, the performance of the overall economy, interest rates, consumer confidence, and the cost of commodities.
  • Issuer-Specific Changes. The value of an individual security or particular type of security can be more volatile than, and can perform differently from, the market as a whole. The value of securities of smaller issuers can be more volatile than that of larger issuers.

In addition, the fund is classified as non-diversified under the Investment Company Act of 1940, which means that it has the ability to invest a greater portion of assets in securities of a smaller number of individual issuers than a diversified fund. As a result, changes in the market value of a single investment could cause greater fluctuations in share price than would occur in a more diversified fund.

An investment in the fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. You could lose money by investing in the fund.

<font style="font: bold 16pt Arial, Helvetica, sans-serif;"><b>Performance</b></font>

The following information is intended to help you understand the risks of investing in the fund. The information illustrates the changes in the performance of Class I shares from year to year and compares the performance of Class I shares to the performance of a securities market index and an additional index over various periods of time. The indexes have characteristics relevant to the fund's investment strategies. Index descriptions appear in the "Additional Index Information" section of the prospectus. Past performance (before and after taxes) is not an indication of future performance.

Visit institutional.fidelity.com for more recent performance information.

Performance history will be available for Class Z after Class Z has been in operation for one calendar year.

<p style="font:bold 11pt Arial, sans-serif; margin-bottom: 0px;">Year-by-Year Returns*</p><p style="font: bold 9pt Arial, sans-serif; margin-top: 0px">Calendar Years</p>
Bar Chart
During the periods shown in the chart:ReturnsQuarter ended
Highest Quarter Return14.49%June 30, 2009
Lowest Quarter Return-12.95%December 31, 2008
Year-to-Date Return-8.98%June 30, 2018
<font style="font: bold 16pt Arial, Helvetica, sans-serif;"><b>Average Annual Returns*</b></font>

After-tax returns are calculated using the historical highest individual federal marginal income tax rates, but do not reflect the impact of state or local taxes. Actual after-tax returns may differ depending on your individual circumstances. The after-tax returns shown are not relevant if you hold your shares in a retirement account or in another tax-deferred arrangement, such as an employee benefit plan (profit sharing, 401(k), or 403(b) plan).

For the periods ended December 31, 2017

* The returns shown above are for Class I, which is not offered through this prospectus. Class Z would have substantially similar annual returns to Class I because the classes are invested in the same portfolio of securities. Class Z's returns would differ from Class I's returns to the extent that the classes do not have the same expenses.

Average Annual Total Returns{- Consumer Staples Portfolio} - NF_FA Consumer Staples Fund_Class Z PRO-01 - Consumer Staples Portfolio
Past 1 year
Past 5 years
Past 10 years
Fidelity Advisor Consumer Staples Fund: Class I | Return Before Taxes 12.06% 10.45% 8.37%
Fidelity Advisor Consumer Staples Fund: Class I | After Taxes on Distributions 9.86% 8.65% 7.29%
Fidelity Advisor Consumer Staples Fund: Class I | After Taxes on Distributions and Sales 8.61% 8.10% 6.73%
S&P 500® Index(reflects no deduction for fees, expenses, or taxes) 21.83% 15.79% 8.50%
MSCI U.S. IMI Consumer Staples 25-50 Index(reflects no deduction for fees, expenses, or taxes) 11.91% 13.42% 10.16%
XML 12 R8.htm IDEA: XBRL DOCUMENT v3.10.0.1
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName FIDELITY SELECT PORTFOLIOS
Prospectus Date rr_ProspectusDate Sep. 29, 2018
NF_FA Consumer Staples Fund_Class Z PRO-01 | Consumer Staples Portfolio  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading <p style="font: bold 20pt Arial, Helvetica, sans-serif;">Fund Summary</p><p style="font: normal 12pt Arial, Helvetica, sans-serif;"><b>Fund/Class</b>:<br/><b>Consumer Staples Portfolio</b>/Fidelity Advisor® Consumer Staples Fund Z</p>
Objective [Heading] rr_ObjectiveHeading <font style="font: bold 16pt Arial, Helvetica, sans-serif;">Investment Objective</font>
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock

The fund seeks capital appreciation.

Expense [Heading] rr_ExpenseHeading <font style="font: bold 16pt Arial, Helvetica, sans-serif;"><b>Fee Table</b></font>
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock

The following table describes the fees and expenses that may be incurred when you buy and hold shares of the fund. In addition to the fees and expenses described below, your broker may also require you to pay brokerage commissions on purchases and sales of certain share classes of the fund.

Shareholder Fees Caption [Text] rr_ShareholderFeesCaption <p style="font: bold 11pt Arial, sans-serif; margin-bottom: 0px;">Shareholder fees</p><p style="font: bold 9pt Arial, sans-serif; margin-top: 0px"></p>
(fees paid directly from your investment) rr_ShareholderFeeOther none
Operating Expenses Caption [Text] rr_OperatingExpensesCaption <p style="font: bold 11pt Arial, sans-serif; margin-bottom: 0px;">Annual Operating Expenses</p><p style="font: bold 9pt Arial, sans-serif; margin-top: 0px">(expenses that you pay each year as a % of the value of your investment)</p>
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading <font style="font: bold 16pt Arial, Helvetica, sans-serif;"><b>Portfolio Turnover</b></font>
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock

The fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when fund shares are held in a taxable account. These costs, which are not reflected in annual operating expenses or in the example, affect the fund's performance. During the most recent fiscal year, the fund's portfolio turnover rate was 76% of the average value of its portfolio.

Portfolio Turnover, Rate rr_PortfolioTurnoverRate 76.00%
Other Expenses, New Fund, Based on Estimates [Text] rr_OtherExpensesNewFundBasedOnEstimates <font style="FONT-FAMILY: Times New Roman" size="3">Based on estimated amounts for the current fiscal year.</font>
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock

This example helps compare the cost of investing in the fund with the cost of investing in other funds.

Let's say, hypothetically, that the annual return for shares of the fund is 5% and that your shareholder fees and the annual operating expenses for shares of the fund are exactly as described in the fee table. This example illustrates the effect of fees and expenses, but is not meant to suggest actual or expected fees and expenses or returns, all of which may vary. For every $10,000 you invested, here's how much you would pay in total expenses if you sell all of your shares at the end of each time period indicated:

Expense Example by, Year, Caption [Text] rr_ExpenseExampleByYearCaption <p style="font: bold 9pt Arial, sans-serif; margin-top: 0px">Sell All Shares</p>
Strategy [Heading] rr_StrategyHeading <font style="font: bold 16pt Arial, Helvetica, sans-serif;"><b>Principal Investment Strategies</b></font>
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock
  • Normally investing primarily in common stocks.
  • Normally investing at least 80% of assets in securities of companies principally engaged in the manufacture, sale, or distribution of consumer staples.
  • Investing in domestic and foreign issuers.
  • Using fundamental analysis of factors such as each issuer's financial condition and industry position, as well as market and economic conditions, to select investments.
Strategy Portfolio Concentration [Text] rr_StrategyPortfolioConcentration <font style="FONT-FAMILY: Times New Roman" size="3">Normally investing at least 80% of assets in securities of companies principally engaged in the manufacture, sale, or distribution of consumer staples.</font>
Risk [Heading] rr_RiskHeading <font style="font: bold 16pt Arial, Helvetica, sans-serif;"><b>Principal Investment Risks</b></font>
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock
  • Stock Market Volatility. Stock markets are volatile and can decline significantly in response to adverse issuer, political, regulatory, market, or economic developments. Different parts of the market, including different market sectors, and different types of securities can react differently to these developments.
  • Foreign Exposure. Foreign markets can be more volatile than the U.S. market due to increased risks of adverse issuer, political, regulatory, market, or economic developments and can perform differently from the U.S. market.
  • Consumer Staples Industry Concentration. The consumer staples industries can be significantly affected by demographics and product trends, competitive pricing, food fads, marketing campaigns, environmental factors, government regulation, the performance of the overall economy, interest rates, consumer confidence, and the cost of commodities.
  • Issuer-Specific Changes. The value of an individual security or particular type of security can be more volatile than, and can perform differently from, the market as a whole. The value of securities of smaller issuers can be more volatile than that of larger issuers.

In addition, the fund is classified as non-diversified under the Investment Company Act of 1940, which means that it has the ability to invest a greater portion of assets in securities of a smaller number of individual issuers than a diversified fund. As a result, changes in the market value of a single investment could cause greater fluctuations in share price than would occur in a more diversified fund.

An investment in the fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. You could lose money by investing in the fund.

Risk Lose Money [Text] rr_RiskLoseMoney <font style="FONT-FAMILY: Times New Roman" size="3">You could lose money by investing in the fund.</font>
Risk Nondiversified Status [Text] rr_RiskNondiversifiedStatus <font style="FONT-FAMILY: Times New Roman" size="3">In addition, the fund is classified as non-diversified under the Investment Company Act of 1940, which means that it has the ability to invest a greater portion of assets in securities of a smaller number of individual issuers than a diversified fund. As a result, changes in the market value of a single investment could cause greater fluctuations in share price than would occur in a more diversified fund.</font>
Risk Not Insured Depository Institution [Text] rr_RiskNotInsuredDepositoryInstitution <font style="FONT-FAMILY: Times New Roman" size="3">An investment in the fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</font>
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading <font style="font: bold 16pt Arial, Helvetica, sans-serif;"><b>Performance</b></font>
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock

The following information is intended to help you understand the risks of investing in the fund. The information illustrates the changes in the performance of Class I shares from year to year and compares the performance of Class I shares to the performance of a securities market index and an additional index over various periods of time. The indexes have characteristics relevant to the fund's investment strategies. Index descriptions appear in the "Additional Index Information" section of the prospectus. Past performance (before and after taxes) is not an indication of future performance.

Visit institutional.fidelity.com for more recent performance information.

Performance history will be available for Class Z after Class Z has been in operation for one calendar year.

Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns <font style="FONT-FAMILY: Times New Roman" size="3">The information illustrates the changes in the performance of Class I shares from year to year and compares the performance of Class I shares to the performance of a securities market index and an additional index over various periods of time.</font>
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress <font style="FONT-FAMILY: Times New Roman" size="3">institutional.fidelity.com </font>
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture <font style="FONT-FAMILY: Times New Roman" size="3">Past performance (before and after taxes) is not an indication of future performance.</font>
Bar Chart [Heading] rr_BarChartHeading <p style="font:bold 11pt Arial, sans-serif; margin-bottom: 0px;">Year-by-Year Returns*</p><p style="font: bold 9pt Arial, sans-serif; margin-top: 0px">Calendar Years</p>
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock
During the periods shown in the chart:ReturnsQuarter ended
Highest Quarter Return14.49%June 30, 2009
Lowest Quarter Return-12.95%December 31, 2008
Year-to-Date Return-8.98%June 30, 2018
Bar Chart, Returns for Class Not Offered in Prospectus [Text] rr_BarChartReturnsForClassNotOfferedInProspectus <font style="FONT-FAMILY: Times New Roman" size="3">* The returns shown above are for Class I, which is not offered through this prospectus. Class Z would have substantially similar annual returns to Class I because the classes are invested in the same portfolio of securities. Class Z's returns would differ from Class I's returns to the extent that the classes do not have the same expenses.</font>
Performance Table Heading rr_PerformanceTableHeading <font style="font: bold 16pt Arial, Helvetica, sans-serif;"><b>Average Annual Returns*</b></font>
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate <font style="FONT-FAMILY: Times New Roman" size="3">After-tax returns are calculated using the historical highest individual federal marginal income tax rates, but do not reflect the impact of state or local taxes.</font>
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred <font style="FONT-FAMILY: Times New Roman" size="3">The after-tax returns shown are not relevant if you hold your shares in a retirement account or in another tax-deferred arrangement, such as an employee benefit plan (profit sharing, 401(k), or 403(b) plan).</font>
Performance Table Narrative rr_PerformanceTableNarrativeTextBlock

After-tax returns are calculated using the historical highest individual federal marginal income tax rates, but do not reflect the impact of state or local taxes. Actual after-tax returns may differ depending on your individual circumstances. The after-tax returns shown are not relevant if you hold your shares in a retirement account or in another tax-deferred arrangement, such as an employee benefit plan (profit sharing, 401(k), or 403(b) plan).

For the periods ended December 31, 2017

* The returns shown above are for Class I, which is not offered through this prospectus. Class Z would have substantially similar annual returns to Class I because the classes are invested in the same portfolio of securities. Class Z's returns would differ from Class I's returns to the extent that the classes do not have the same expenses.

NF_FA Consumer Staples Fund_Class Z PRO-01 | Consumer Staples Portfolio | Fidelity Advisor Consumer Staples Fund: Class Z  
Risk/Return: rr_RiskReturnAbstract  
Management fee rr_ManagementFeesOverAssets 0.54%
Distribution and/or Service (12b-1) fees rr_DistributionAndService12b1FeesOverAssets none
Other expenses rr_OtherExpensesOverAssets 0.10% [1]
Total annual operating expenses rr_ExpensesOverAssets 0.64%
1 year rr_ExpenseExampleYear01 $ 65
3 years rr_ExpenseExampleYear03 205
5 years rr_ExpenseExampleYear05 357
10 years rr_ExpenseExampleYear10 $ 798
NF_FA Consumer Staples Fund_Class Z PRO-01 | Consumer Staples Portfolio | Fidelity Advisor Consumer Staples Fund: Class I  
Risk/Return: rr_RiskReturnAbstract  
2008 rr_AnnualReturn2008 (22.29%)
2009 rr_AnnualReturn2009 20.99%
2010 rr_AnnualReturn2010 15.22%
2011 rr_AnnualReturn2011 8.79%
2012 rr_AnnualReturn2012 15.35%
2013 rr_AnnualReturn2013 21.59%
2014 rr_AnnualReturn2014 14.89%
2015 rr_AnnualReturn2015 1.90%
2016 rr_AnnualReturn2016 3.04%
2017 rr_AnnualReturn2017 12.06%
Year to Date Return, Label rr_YearToDateReturnLabel Year-to-Date Return
Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Jun. 30, 2018
Bar Chart, Year to Date Return rr_BarChartYearToDateReturn (8.98%)
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel Highest Quarter Return
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Jun. 30, 2009
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 14.49%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel Lowest Quarter Return
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Dec. 31, 2008
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (12.95%)
NF_FA Consumer Staples Fund_Class Z PRO-01 | Consumer Staples Portfolio | Return Before Taxes | Fidelity Advisor Consumer Staples Fund: Class I  
Risk/Return: rr_RiskReturnAbstract  
Column rr_AverageAnnualReturnColumnName Consumer Staples Portfolio
Label rr_AverageAnnualReturnLabel <font style="FONT-FAMILY: Times New Roman" ><b>Return Before Taxes</b></font>
Past 1 year rr_AverageAnnualReturnYear01 12.06%
Past 5 years rr_AverageAnnualReturnYear05 10.45%
Past 10 years rr_AverageAnnualReturnYear10 8.37%
NF_FA Consumer Staples Fund_Class Z PRO-01 | Consumer Staples Portfolio | After Taxes on Distributions | Fidelity Advisor Consumer Staples Fund: Class I  
Risk/Return: rr_RiskReturnAbstract  
Column rr_AverageAnnualReturnColumnName Consumer Staples Portfolio
Label rr_AverageAnnualReturnLabel <font style="FONT-FAMILY: Times New Roman" ><b>Return After Taxes on Distributions</b></font>
Past 1 year rr_AverageAnnualReturnYear01 9.86%
Past 5 years rr_AverageAnnualReturnYear05 8.65%
Past 10 years rr_AverageAnnualReturnYear10 7.29%
NF_FA Consumer Staples Fund_Class Z PRO-01 | Consumer Staples Portfolio | After Taxes on Distributions and Sales | Fidelity Advisor Consumer Staples Fund: Class I  
Risk/Return: rr_RiskReturnAbstract  
Column rr_AverageAnnualReturnColumnName Consumer Staples Portfolio
Label rr_AverageAnnualReturnLabel <font style="FONT-FAMILY: Times New Roman" ><b>Return After Taxes on Distributions and Sale of Fund Shares</b></font>
Past 1 year rr_AverageAnnualReturnYear01 8.61%
Past 5 years rr_AverageAnnualReturnYear05 8.10%
Past 10 years rr_AverageAnnualReturnYear10 6.73%
NF_FA Consumer Staples Fund_Class Z PRO-01 | Consumer Staples Portfolio | S&P 500® Index(reflects no deduction for fees, expenses, or taxes)  
Risk/Return: rr_RiskReturnAbstract  
Past 1 year rr_AverageAnnualReturnYear01 21.83%
Past 5 years rr_AverageAnnualReturnYear05 15.79%
Past 10 years rr_AverageAnnualReturnYear10 8.50%
NF_FA Consumer Staples Fund_Class Z PRO-01 | Consumer Staples Portfolio | MSCI U.S. IMI Consumer Staples 25-50 Index(reflects no deduction for fees, expenses, or taxes)  
Risk/Return: rr_RiskReturnAbstract  
Past 1 year rr_AverageAnnualReturnYear01 11.91%
Past 5 years rr_AverageAnnualReturnYear05 13.42%
Past 10 years rr_AverageAnnualReturnYear10 10.16%
[1] Based on estimated amounts for the current fiscal year.
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