There are some great answers here, with different opinions. There is no one "right" answer. The main thing is that you need to be comfortable with your risk level.

Fidelity does their research to put together good options. Your employer selects what they think are good options to make available to you. It is designed to make money, but we can't know what the market is going to do.

My "advice" would be to keep it simple so that you understand it and are comfortable. With 20 years to go, I would dump it all into an SP500 index, but that's me. You'd have some highs and some lows. You'd need to be comfortable with that.

Standard advice would be a fairly aggressive split between stocks and bonds, based on your age/time to retirement. You could follow that on your own, or Target date funds will do that for you. Put it all into a target date fund and forget it.