The Fidelity International Bond Index Fund (FBIIX) is a mutual fund that seeks to track the performance of international fixed-income securities. This fund is managed by Fidelity Investments and primarily invests in a diverse portfolio of bonds issued by foreign governments and corporations. With a focus on international markets, FBIIX offers investors exposure to a wide range of global bond markets, providing potential for diversification and potential for income. As an index fund, FBIIX aims to replicate the performance of a specific bond index, making it a passive investment option with lower fees compared to actively managed funds.