Fidelity Four-in-One Index is a Very Low-cost Index Fund

The Fidelity Four-in-One Index (FFNOX), a non-managed index fund, is an excellent choice for the conservative long-term investor. FFNOX allocates 55 percent of its assets to the Fidelity Spartan 500 Index Fund, which tracts the S&P 500 (large companies). The remaining 45 percent is spilt evenly among the Fidelity Spartan Extended Market Index Fund, which tracks the Wilshire 4500 index (small and mid size companies); the Fidelity Spartan International Index Fund, which tracks the Morgan Stanley Capital International Europe, Australia, Far East Index; and the Fidelity U.S. Bond Index Fund, which tracks the Lehman Brothers Aggregate Index.

The annual expense ratio is only 0.08 percent. The minimum investment is $10,000 for a regular account and $2,500 for a retirement account.

As of February 1, 2005 the fund's yield was 1.67%

Dollar-cost averaging and dividend reinvesting are appropriate investing techniques for owners of this fund.