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I would be surprised if you would be able to beat an S&P 500 Index fund with this. There are 40-ish funds here, each with many and overlapping holdings. You have essentially bought the index but are paying active management fees.

For that 0.99% do they waive the expense ratios of the funds that comprise this group? For example, OAKMX has a 1.1% expense ratio. Unless Fidelity is picking up the tab, you are actually paying out a 2% expense ratio on funds invested in that fund.

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