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Fidelity® Total Bond Fund Fidelity® Total Bond Fund Semi-Annual Report February 28, 2021 Includes Fidelity and Fidelity Advisor share classes Contents Note to Shareholders 3 Investment Summary 4 Schedule of Investments 5 Financial Statements 61 Notes to Financial Statements 71 Shareholder Expense Example 80 Board Approval of Investment Advisory 81 Contracts and Management Fees Liquidity Risk Management Program 85 To view a fund’s proxy voting guidelines and proxy voting record for the 12-month period ended June 30, visit http://www.fidelity.com/proxyvotingresults or visit the Securities and Exchange Commission’s (SEC) web site at http://www.sec.gov. You may also call 1-800-544-8544 if you’re an individual investing directly with Fidelity, call 1-800-835-5092 if you’re a plan sponsor or participant with Fidelity as your recordkeeper or call 1-877-208-0098 on institutional accounts or if you’re an advisor or invest through one to request a free copy of the proxy voting guidelines. Standard & Poor’s, S&P and S&P 500 are registered service marks of The McGraw-Hill Companies, Inc. and have been licensed for use by Fidelity Distributors Corporation. Other third-party marks appearing herein are the property of their respective owners. All other marks appearing herein are registered or unregistered trademarks or service marks of FMR LLC or an affiliated company. © 2021 FMR LLC. All rights reserved. This report and the financial statements contained herein are submitted for the general information of the shareholders of the Fund. This report is not authorized for distribution to prospective investors in the Fund unless preceded or accompanied by an effective prospectus. A fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-PORT. Forms N-PORT are available on the SEC’s web site at http://www.sec.gov. A fund’s Forms N-PORT may be reviewed and copied at the SEC’s Public Reference Room in Washington, DC. Information regarding the operation of the SEC’s Public Reference Room may be obtained by calling 1-800-SEC-0330. For a complete list of a fund’s portfolio holdings, view the most recent holdings listing, semiannual report, or annual report on Fidelity’s web site at http://www.fidelity.com, http://www.institutional.fidelity. com, or http://www.401k.com, as applicable. NOT FDIC INSURED •MAY LOSE VALUE •NO BANK GUARANTEE Neither the Fund nor Fidelity Distributors Corporation is a bank. Semi-Annual Report Note to Shareholders: Early in 2020, the outbreak and spread of a new coronavirus emerged as a public health emergency that had a major influence on financial markets, primarily based on its impact on the global economy and the outlook for corporate earnings. The virus causes a respiratory disease known as COVID-19. On March 11, 2020 the World Health Organization declared the COVID-19 outbreak a pandemic, citing sustained risk of further global spread. In the weeks following, as the crisis worsened, we witnessed an escalating human tragedy with wide-scale social and economic consequences from coronavirus-containment measures. The outbreak of COVID-19 prompted a number of measures to limit the spread, including travel and border restrictions, quarantines, and restrictions on large gatherings. In turn, these resulted in lower consumer activity, diminished demand for a wide range of products and services, disruption in manufacturing and supply chains, and – given the wide variability in outcomes regarding the outbreak – significant market uncertainty and volatility. Amid the turmoil, global governments and central banks took unprecedented action to help support consumers, businesses, and the broader economies, and to limit disruption to financial systems. The situation continues to unfold, and the extent and duration of its impact on financial markets and the economy remain highly uncertain. Extreme events such as the coronavirus crisis are “exogenous shocks” that can have significant adverse effects on mutual funds and their investments. Although multiple asset classes may be affected by market disruption, the duration and impact may not be the same for all types of assets. Fidelity is committed to helping you stay informed amid news about COVID-19 and during increased market volatility, and we’re taking extra steps to be responsive to customer needs. We encour- age you to visit our websites, where we offer ongoing updates, commentary, and analysis on the markets and our funds. 3 Semi-Annual Report Investment Summary (Unaudited) Quality Diversification (% of fund’s net assets) Asset Allocation (% of fund’s net assets) As of February 28, 2021 As of February 28, 2021*, **, *** U.S. Government and U.S. Government Agency Obligations 43.4% Corporate Bonds 36.4% AAA 5.1% U.S. Government and U.S. Government Agency Obligations 43.4% AA 1.8% Asset-Backed Securities 5.2% A 7.1% CMOs and Other Mortgage Related Securities 3.5% BBB 19.7% Municipal Bonds 0.6% BB and Below 17.5% Stocks 0.1% Not Rated 3.1% Other Investments 8.6% Equities 0.1% Short-Term Investments and Net Other Assets (Liabilities) 2.2% Short-Term Investments and Net Other Assets 2.2% * Foreign investments – 15.2% ** Futures and Swaps – 0.9% We have used ratings from Moody’s Investors Service, Inc. Where Moody’s® ratings are not *** Written options – (0.8%) available, we have used S&P® ratings. All ratings are as of the date indicated and do not reflect subsequent changes. Percentages in the above tables are adjusted for the effect of TBA Sale Commitments. Semi-Annual Report 4 Schedule of Investments February 28, 2021 (Unaudited) Showing Percentage of Net Assets Corporate Bonds – 36.4% Principal Value Principal Value Amount(a) Amount(a) Convertible Bonds – 0.1% 8.5% 7/13/22 (d) $ 1,380,000 $ 1,404,150 Lumen Technologies, Inc.: COMMUNICATION SERVICES – 0.1% 4.5% 1/15/29 (d) 12,820,000 12,803,975 Media – 0.1% 5.125% 12/15/26 (d) 7,515,000 7,834,388 DISH Network Corp.: 5.625% 4/1/25 3,040,000 3,256,448 2.375% 3/15/24 $ 8,804,000 $ 8,322,932 6.875% 1/15/28 850,000 958,698 3.375% 8/15/26 17,227,000 16,199,010 Qtel International Finance Ltd.: 24,521,942 3.25% 2/21/23 (d) 1,185,000 1,235,733 5% 10/19/25 (d) 660,000 763,950 ENERGY – 0.0% Sable International Finance Ltd. 5.75% 9/7/27 (d) 1,755,000 1,855,913 Oil, Gas & Consumable Fuels – 0.0% SFR Group SA: Mesquite Energy, Inc.: 5.125% 1/15/29 (d) 13,280,000 13,353,239 15% 7/15/23 (b) (c) 770,725 770,725 7.375% 5/1/26 (d) 11,011,000 11,486,675 15% 7/15/23 (b) (c) 1,330,343 1,330,343 8.125% 2/1/27 (d) 20,491,000 22,335,395 2,101,068 Sprint Capital Corp.: 6.875% 11/15/28 15,940,000 20,164,100 REAL ESTATE – 0.0% 8.75% 3/15/32 10,500,000 15,624,000 Equity Real Estate Investment Trusts (REITs) – 0.0% Telecom Italia Capital SA: Colony Capital Operating Co. LLC 5.75% 7/15/25 (d) 10,000 27,309 6% 9/30/34 2,030,000 2,344,731 7.2% 7/18/36 2,599,000 3,332,698 TOTAL CONVERTIBLE BONDS 26,650,319 7.721% 6/4/38 605,000 809,974 Nonconvertible Bonds – 36.3% Telefonica Celular del Paraguay SA 5.875% 4/15/27 (d) 1,260,000 1,338,057 COMMUNICATION SERVICES – 3.6% Telenet Finance Luxembourg Notes SARL 5.5% Diversified Telecommunication Services – 1.3% 3/1/28 (d) 7,800,000 8,248,500 AT&T, Inc.: Verizon Communications, Inc.: 2.55% 12/1/33 (d) 6,621,000 6,396,354 2.987% 10/30/56 (d) 39,193,000 35,322,181 3% 6/30/22 7,993,000 8,238,225 3% 3/22/27 5,131,000 5,564,687 3.8% 12/1/57 (d) 15,250,000 14,498,476 4.862% 8/21/46 26,720,000 32,965,309 4.3% 2/15/30 10,373,000 11,896,126 5.012% 4/15/49 569,000 722,119 4.45% 4/1/24 1,500,000 1,658,883 Virgin Media Finance PLC 5% 7/15/30 (d) 5,430,000 5,525,025 5.15% 11/15/46 12,000,000 14,612,527 Windstream Escrow LLC 7.75% 8/15/28 (d) 8,860,000 9,070,425 6.2% 3/15/40 7,512,000 10,052,753 Zayo Group Holdings, Inc.: 6.3% 1/15/38 10,617,000 14,194,235 4% 3/1/27 (d) 2,850,000 2,838,258 Axtel S.A.B. de CV 6.375% 11/14/24 (d) 276,000 288,765 6.125% 3/1/28 (d) 10,480,000 10,805,928 C&W Senior Financing Designated Activity Co.: 421,438,313 6.875% 9/15/27 (d) 26,717,000 28,620,586 Entertainment – 0.2% 7.5% 10/15/26 (d) 22,232,000 23,506,116 The Walt Disney Co.: Cablevision Lightpath LLC: 3.8% 3/22/30 39,850,000 45,632,469 3.875% 9/15/27 (d) 1,135,000 1,126,488 4.7% 3/23/50 29,296,000 37,500,984 5.625% 9/15/28 (d) 895,000 909,544 Total Play Telecomunicaciones SA de CV 7.5% Colombia Telecomunicaciones SA 4.95% 7/17/30 (d) 560,000 600,180 11/12/25 (d) 1,870,000 1,818,575 Frontier Communications Corp.: 84,952,028 5% 5/1/28 (d) 11,075,000 11,403,928 Interactive Media & Services – 0.0% 5.875% 10/15/27 (d) 2,876,000 3,077,320 Baidu.com, Inc.: 6.75% 5/1/29 (d) 5,950,000 6,230,840 1.72% 4/9/26 670,000 671,047 Iliad SA: 2.375% 10/9/30 635,000 626,745 0.625% 11/25/21 (Reg.
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