Originally Posted by MasterBlaster
You'll never get small caps and foreign asset exposure with expense ratio's as low as 0.10%.
I would expect an equivalent Vanguard fund to have an expense ratio around 0.40%
Vanguard's target retirement funds are ~0.21% with an international allocation.
Masterblaster, I'm not sure if you are limiting your selection of funds to "fidelity funds" or "target retirement" funds, but international exposure is cheap at fidelity at 0.1% for Spartan total international index - FSIIX. Small caps can be had for ~0.2% at VG, and if you can access their Admiral class, you can get small caps for 0.13%.
If the OP is discussing a 401k, which it sounds like, there may be institutional options available from vanguard or elsewhere that give expense ratios of ~0.05%. At least my wife's 401k administered through fidelity has some of these VG institutional funds (VIVIX for example). Of course, if we're talking 401k's, you may have horrible choices versus the Fidelity Freedom fund, and in that case, the Freedom fund may be the clear winner. I still think 0.76% is a steep price to pay for slight diversification benefits, unless your other options are as costly or more expensive. You can always diversify outside of your 401k to arrive at an overall well-diversified portfolio. I do this, since my own fidelity-administered 401k only has two domestic Spartan funds with reasonable costs. I get my international and value tilts elsewhere.