Fund Informationasof12/31/10 GerardO'Reilly Fund Manager(TenureonFund): NAV: Morningst Annual Turnov Number of Ho -term TradingFee/ Tot Inc Vanguard TotalStockMarketIndexFundSignalShares any, andexcludesalescharges. reinvested dividendsandcapitalgains,if is basedontotalreturns,whichinclude funds inthecategory.% parentheses representsthenumberof receive arankofone.Thenumberin performing fundinacategorywillalways favorable) percentilerankis100. rank isoneandthelowest(orleast The highest(ormostfavorable)percentile that havethesameMorningstarCategory. return percentilerankrelativetoallfunds % RankinCategoryisthefund'stotal calculated. prospectus atthetimeaverageis fund separate fund.Morningstaruseseach Each shareclassofafundistreatedas each fundintheMorningstarcategory. average ofthegrossexpenseratiopaidby Morningstar andrepresentsthemean Expense Ratio:Thisfigureiscalculatedby Morningstar CategoryAverageGross excludes salescharges. andcapitalgains,ifany, the group.Itassumesreinvestmentof the returnsofeachindividualfundwithin average returnforthepeergroupbasedon The MorningstarCategoryAverageisthe eption Date: al Net ’ s mostcurrent,publiclyavailable Asset ar H Ca oldings (09/30/10): lding Period: Large Blend er Rat s ($Millions): tegory ( e (06/30/10): 12/94) : RankinCategory

The top - $30. 3% 3377 - - $5,470.85 09/01/ - 47 06 is noguarantee offutureresults. metrics, calculatedas ofthedateshown.Pastperformance its three weighted averageof theperformancefiguresassociatedwith The OverallMorningstarRating # of Morningst Mst DJ MSCI Fund FOURTH QUARTER2010|TICKER:VTSSX Mo and statedasapercentofthefund'stotalnetassets.Formutu The grossexpenseratioisthetotalannualfundorclassoperat Indices areunmanagedandyoucannotinvestdirectlyinanindex company's employeebenefitplans.Ifsaleschargeswereincluded These figuresdonotincludetheeffectofsalescharges,ifany total returnsarereportedasoftheperiodindicated.LifeF Total returnsarehistoricalandincludechangeinsharevaluea performance, callFidelityat1 performance maybehigherorlowerthanthestated. principal valueofaninvestmentwillfluctuate;therefore,you The performancedatashownrepresentspastperformance,whichdo USTot f ar Performance asof12/31/10 unds inMorningst Out US  rningst Ca - , five 3-Yr of t B ar Av al St # of Morningst Mst DJ MSCI Fund 1753 road Mkt Morningstar Rating % rankinCat ar Cat - and ten g: LargeBlend USTot k Mkt f ar Cat unds inMorningst USBroadMkt egory (G) - ar %rankinCat Av year (ifapplicable)Morningstar Rating al ar Stk Out of1457 Out of1753 : LargeBlend g:  Cat Ov LargeBlend 5-Year N/A Mkt TM erall ( - ‡ for afundisderivedfrom 800 G) as of12/31/10 ar - Cat 343 - 3548. Out 10-Year N/A of 802 CUMULAT 3 Mo. 10. 11. 11. 11. 54 67 70 69 und figuresarereportedasoftheinceptiondatetoperiod , asthesechargesarewaivedforcontributionsmadethroughyou al funds,thevaluesweredrawnfromtheirrespectiveprospectus nd reinvestmentofdividendsandcapitalgains,ifany.Cumulati ing expenses(beforewaiversorreimbursements)paidbythefund . may haveagainorlosswhenyousellyourshares.Current , returnswouldhavebeenlower. IVE RET Exp. Ratio shown, the first(primary)benchmark wasused. calculating measures andratios.Ifmorethanonebenchmark is * Thebenchmarkshown intheperformancesectionwasused in in PortfolioStatistics andelsewhere. Please refertoGlossaryofTermsfordefinitions oftermsused Gross 14. 17. 17. 17. To learnmoreortoobtainthemostrecentmonth 0.07 YTD Inform Sharpe Rat St Bet R 5 YearHist P/B Rat P/E Rat Med W Av 2. 2 andard Dev es notguaranteefutureresults.Investmentreturnand 75 01 49 28 23 g W a . ( %) Portfolio Statistics*(3Yr.)asof12/31/10 at gt gt Portfolio Characteristics* ion Ratio io io Mkt Mkt (12 1 Year EPSGrow io 14. 17. 17. 17. 14.01 17.49 17.28 17.23 2010 2010 2010 12% 12% Cap($B) Cap($B) iation Mo 01 49 28 23 Trailing) AV CALENDAR YEARRET 3 Year 28.17 28.57 28.76 28.85 ERAGE ANNUALRET 2027 2009 1753 -3.15 -1.76 -1.67 -1.63 39% 23% th

5 Year -37.79 -37.23 -37.04 -36.99 2086 2008 1457 38% 1.98 3.00 3.04 as of12/31/10 - - 22. Fund Primary 0. 89 02 ------10 2090 2007 48% 6. 5. 5. 1.64 2.55 802 Benchmark Year - 16 62 55 - - - . ( . ( %) 22. %) indicated. 0.00 0.01 0.00 1.00 1.00 - 91 end - - - - - 14. 15. ve 1980 2006 2.11 LOF es. r - - -

17 77 EQUITY FOURTH QUARTER 2010 | TICKER: VTSSX Vanguard Total Market Fund Signal Shares

Top Holdings† as of 9/30/10 Asset Allocation† as of 9/30/10 Objective: A Growth ; the Morningstar Category is Large Blend. 1. Ex xonMobil Cash 0.25% Strategy: The investment seeks to track the 2. Apple, Inc. Convertibles 0.00% performance of a benchmark index that 3. Microsoft Corporation Domestic Bond 0.00% measures the investment return of the overall Domestic Stock 99.14% . The fund employs a passive 4. General Electric Company management strategy designed to track the 5. Procter & Gamble Company Foreign Bond 0.00% performance of the MSCI US Broad Market Foreign Stock 0.55% 6. International Business Machines Corp Index, which consists of all the U.S. common Others 0.05% traded regularly on the New York Stock 7. Johnson & Johnson 0.00% Exchange and the over-the-counter 8. AT&T, Inc. market. It typically holds 1,200-1,300 of the stocks in its target index. 9. Chevron Corporation 10. J.P. Morgan Chase & Co. Risk: Value and growth stocks can perform % of TNA:15.15 differently from other types of stocks. Growth stocks can be more volatile. Value stocks can continue to be undervalued by the market for periods of time. Stock markets are volatile Major Sector Weightings† as of 9/30/10 and can decline significantly in response to adverse issuer, political, regulatory, market, (% of Total Net Assets) economic or other developments. These risks may be magnified in foreign markets. Please consult the prospectus for additional risk Financial Service information specific to this fund. Industrial Materials Healthcare Consumer Goods †Top holdings, asset allocation and major sector weightings are as of the date indicated and may not be Energy representative of the fund's current or future investments. Hardware Top holdings for stock funds do not include money market Consumer Service investments or futures contracts. Telecommunication Software Business Service Ut ilities Media

0% 5% 10 % 15 % 20%

Data shown is based on information available at the time of publication. Certain data (in particular, holding related data) may lag performance information. More current information may be available on a fund company’s own website. The MSCI US Broad Market Index represents approximately 99.5% of the capitalization of the US equity market. It is the aggregation of the MSCI US Investable Market 2500 and the Micro Cap Indices. The MSCI US Broad Market Index represents a greater proportion of the US equity market cap than the most commonly used broad market indices. The Dow Jones U.S. Total Stock Market Index is an unmanaged -weighted index of over 5,000 U.S. equity securities which contains all actively traded common stocks with readily available price data. ‡For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating (based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund's monthly performance, including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. Each share class is counted as a fraction of one fund within this scale and is rated separately, which may cause slight variations in the distribution percentages. If the fund has multiple share classes, the Morningstar Rating is for the share class specified only; other classes may have different performance characteristics. Morningstar, Inc., provided data on the non-Fidelity mutual funds. ©2011 Morningstar, Inc. All rights reserved. The Morningstar information contained herein: 1) is proprietary to Morningstar and/or its content providers; 2) may not be copied or distributed; 3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Fidelity does not review the Morningstar data. All numbers are unaudited. ©2011 FMR, LLC for all non-Morningstar content. All rights reserved. 505226.5.10 1.884679.265 Before investing in any mutual fund, please carefully consider the investment objectives, risks, charges and expenses. For this and other information, call or write Fidelity for a free prospectus or, if available, a summary prospectus. Read it carefully before you invest. Fidelity Brokerage Services LLC, Member NYSE, SIPC, 900 Salem Street, Smithfield, RI 02917.