Thankyou for taking the time to reply in such detail.

The figures came from Morningstar's info. on the FSPTX fund. Maybe it's a transcription typo from the prospectus. The prospectus itself isn't available on line from Fidelity, it's in the mail to me. I'll check it when I get it.

I feel a lot more clued up now.

I also rechecked with Fidelity regarding front sales fees. Yesterday they said they applied. Today they said they didn't but today's rep. sounded like he knew his stuff and was very fluent in the lore of fees, yesterdays rep sounded a little intimidated by the question. Which is a big relief, seeing as some are 3%+.

And through your reply and another one I received it's nice to be educated enough about fees to know that the expense ratio is a) a separate entity from the load/redemption fees and b) already taken into account before they post the performance of the fund.

Thx again,

Dr. C