You probably haven't heard of it. Or maybe you saw a weird ticker symbol on your quarterly retirement statement that didn't match the mutual funds you see on CNBC. If you're looking at your employer-sponsored plan and see something labeled the Fidelity Growth Commingled Pool, you aren't looking at a traditional mutual fund. It's different.
Basically, it's a "private club" for retirement money.
Most people assume their 401(k) is just a collection of mutual funds. That’s how it used to be. But big employers—think the Googles and GEs of the world—have shifted toward Collective Investment Trusts (CITs). That is exactly what this pool is. It's not a fund you can go buy in a brokerage account at Charles Schwab or even on Fidelity's retail site. You have to be "invited" by your employer’s plan.
Why? Cost. Pure and simple.
The mechanics of the Fidelity Growth Commingled Pool
Let’s get into the weeds for a second. This pool is managed by Fidelity Management Trust Company. It isn't regulated by the SEC under the Investment Company Act of 1940, which is the rulebook for your standard mutual fund. Instead, it falls under the oversight of the Office of the Comptroller of the Currency (OCC).
That sounds boring, right? It matters because it saves you money.
Because it doesn't have to deal with the mountain of SEC paperwork, marketing costs, and retail distribution expenses, the internal fees are usually rock-bottom. You might see an expense ratio that makes a "cheap" mutual fund look expensive. We are talking about basis points that are often negotiated specifically between your company and Fidelity.
The investment strategy usually mirrors the Fidelity Growth Company Fund (FDGRX), famously managed by Steve Wymer. Wymer has been at the helm of the flagship Growth Company fund since the late 80s. He's a legend in the growth space. The commingled pool is essentially a way for institutions to get that same "Wymer magic" without paying the retail markup.
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It's a heavy hitter.
The pool looks for companies with high growth potential, often focusing on technology, consumer discretionary, and healthcare. If you look at the top holdings, you’ll see the usual suspects: Nvidia, Apple, Microsoft, and Amazon. But because it’s a commingled pool, the manager sometimes has more flexibility to dip into private placements or less liquid names than a massive retail fund might.
Why you can't find a ticker symbol
Go ahead and try. Type "Fidelity Growth Commingled Pool" into Yahoo Finance. You’ll get nothing.
This drives people crazy.
Since these are private trusts, they don't have five-letter tickers ending in "X." They don't have public daily NAV (Net Asset Value) updates on Google Finance. You have to log in to your specific NetBenefits account to see what the "price" is. Honestly, it's a bit of a transparency hurdle for the average DIY investor who likes to track their portfolio in a third-party app.
You’re essentially holding a piece of a giant collective pot.
Is it better than a mutual fund?
Usually, yes. But there’s a catch.
The "better" part comes from the fee structure. If your employer offers the Fidelity Growth Commingled Pool alongside the retail Fidelity Growth Company Fund, the pool is almost certainly the smarter play. You’re getting the same stocks and the same manager for a lower price. Over 30 years, a 0.20% difference in fees can result in tens of thousands of dollars in extra retirement savings.
The catch is portability.
If you leave your job and want to roll your 401(k) into an IRA, you can't take the pool with you. You have to sell it. You can't "transfer in kind" because, again, these are private institutional vehicles. Once you're out of the employer plan, you’re back to the retail world with everyone else.
Also, information is harder to find. You won't find a Morningstar "Star Rating" for the specific pool because Morningstar tracks mutual funds, not private institutional trusts. You have to rely on the fact-sheets provided by your employer.
The growth strategy and risk profile
This isn't a "set it and forget it" index fund. It's active management.
Wymer (and the team behind the pool) are looking for earnings growth that exceeds the market's expectations. This means the pool is often "overweight" in tech. If the Nasdaq has a bad month, this pool is going to feel it—potentially more than a standard S&P 500 index fund would.
It’s aggressive.
If you have 20 years until retirement, that volatility is your friend. If you’re retiring next Tuesday? Maybe not. You have to look at how much of your total portfolio is tied up in this one aggressive bucket. Because it focuses so heavily on the "Magnificent Seven" and other high-flyers, it can become a huge driver of your returns, for better or worse.
Performance vs. The Benchmark
Most growth pools are benchmarked against the Russell 3000 Growth Index or the S&P 500 Growth Index.
Historically, Fidelity’s growth team has a strong track record of beating these benchmarks over long periods. But remember: past performance doesn't mean anything for the future. Active management is a bet on the human being picking the stocks. With a commingled pool, you’re betting that Fidelity’s institutional team can continue to find "alpha" (market-beating returns) in a world where everyone has the same data.
What you should do next
First, log into your 401(k) portal. Don't just look at the balance; look at the Fee Disclosure document. It’s usually a PDF buried in the "Plan Information" section.
Find the expense ratio for the Fidelity Growth Commingled Pool. If it’s under 0.40%, you’re likely getting a very good deal for active growth management. If it's significantly lower—say 0.30% or less—it's a massive bargain.
Compare that to the other options in your plan. If your only other growth option is a retail fund with a 0.70% fee, the pool is a no-brainer.
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Check your concentration.
If you have 80% of your money in this pool, you are effectively betting your entire retirement on 50 to 100 high-growth stocks. That’s a lot of eggs in one basket. Most advisors suggest balancing an aggressive growth pool with a broader "Total Market" index fund or some international exposure to smooth out the ride.
Moving forward with your investment
Stop looking for a ticker. It's a waste of time. Instead, bookmark the specific performance page inside your workplace benefits site. That is your only source of truth for the daily value of your holdings.
If you are planning a job change soon, start thinking about your exit strategy. Since you can’t move the pool to an IRA, you will be forced to liquidate those shares. If the market is down when you leave your job, you'll be locking in those losses when you move the cash. It's one of the few downsides of these institutional "private clubs."
Ultimately, the Fidelity Growth Commingled Pool is a tool for institutional-scale investing. It gives the average worker access to high-level management and low-level fees that used to be reserved for pension funds and endowments. Use it for what it is: a low-cost engine for long-term wealth, provided you can stomach the volatility of a growth-heavy portfolio.
Verify your plan's specific "class" of the pool. Some pools have different tiers based on the total assets your company has with Fidelity. The larger the company, the lower your fee. Check that document today. It’s the only way to know exactly what you’re paying for the "Wymer" effect.