Morningstar® Investment Profile™   Morningstar®
Disclosure
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for Print
Fidelity VIP Investment Grade Bd Init
Release date as of 2024-03-31. Data on page is subject to change.
Snapshot Ratings & Risk Portfolio Nuts & Bolts
  Morningstar Report
Overall Morningstar
Rating™
What is this?
As of 2024-03-31
Out of 426
Intermediate Core Bond Funds
Morningstar®
Style Box™
What is this?
As of 2024-01-31
Total Fund Assets ($ Mil)
4,096.69
View Historical Morningstar Star Ratings and Definitions
  Investment Objective & Strategy  
The investment seeks as high a level of current income as is consistent with the preservation of capital.
The fund normally invests at least 80% of assets in investment-grade debt securities (those of medium and high quality) of all types and repurchase agreements for those securities. The advisor manages the fund to have similar overall interest rate risk to the Bloomberg U.S. Aggregate Bond Index. The fund allocates assets across different market sectors and maturities.
  Morningstar Category: Intermediate Core Bond
Intermediate-term core bond portfolios invest primarily in investment-grade U.S. fixed-income issues including government, corporate, and securitized debt, and hold less than 5% in below-investment-grade exposures. Their durations (a measure of interest-rate sensitivity) typically range between 75% and 125% of the three-year average of the effective duration of the Morningstar Core Bond Index. 
  Investment Risks
There are no additional fund specific investment risks (e.g. liquidity risk, currency risk, foreign investment risk, etc.) associated with this fund beyond the normal risks generally associated with investing in a mutual fund.
  Portfolio Profile
Asset Allocation
% of Net Assets
Bullet U.S. Stocks U.S. Stocks 0.0
Bullet Non-U.S. Stocks Non-U.S. Stocks 0.0
Bullet Bonds Bonds 96.6
Bullet Cash Cash 3.2
Bullet Other Other 0.2
Asset Allocation Rescaled Graph
Data through 2024-01-31
Morningstar Fixed-Income Sectors
% Fund
Government 35.04
Corporate 29.22
Securitized 32.60
Municipal 0.00
Cash & Equivalents 3.14
Derivative 0.00
Data through 2024-01-31
Credit Analysis
% Bonds
AAA 67.48
AA 2.65
A 9.96
BBB 20.03
BB 1.79
B 0.10
Below B 0.03
Not Rated -2.04
Data through 2024-01-31
Credit Analysis Graph
Holding Status
Total Number of Stock Holdings 0
Total Number of Bond Holdings 2485
% of Net Assets in Top 10 Holdings 26.65
Turnover % (as of 2023-12-31) 188.00
30 Day SEC Yield % 4.54
Top Holdings
Maturity
Date
Shares
Value
$000
% of Net
Assets
United States Treasury Notes 3.375% 2033-05-15 211,100 201,765 4.93
United States Treasury Notes 1.25% 2028-05-31 180,752 161,808 3.96
United States Treasury Notes 3.5% 2033-02-15 144,500 139,584 3.41
United States Treasury Bonds 4.125% 2053-08-15 126,266 124,155 3.04
Fidelity Cash Central Fund --- 113,892 113,915 2.78
United States Treasury Notes 2.875% 2032-05-15 88,237 81,605 2.00
United States Treasury Notes 4.125% 2030-08-31 71,100 71,911 1.76
United States Treasury Notes 4.375% 2030-11-30 65,000 66,727 1.63
United States Treasury Bonds 2% 2051-08-15 104,090 65,764 1.61
United States Treasury Notes 1.125% 2028-08-31 70,526 62,410 1.53
Data through 2024-01-31
  Principal Risks   
Prepayment (Call), Foreign Securities, Loss of Money, Not FDIC Insured, High Portfolio Turnover, Issuer, Interest Rate, Leverage
Show Risk Definitions
  Other Information
Inception Date: 1988-12-05
Portfolio Manager(s)
Celso Munoz   (2016-10-18)
Celso Munoz, CFA, Portfolio Manager, co‑manages retail and institutional assets. Mr. Munoz joined Fidelity as a research analyst in 2005 and has been managing fixed income portfolios since 2016. Prior to joining Fidelity, he served as an associate in the Merger & Acquisitions group within the investment banking practice at Deutsche Bank from 1999 to 2005. Mr. Munoz earned his Bachelor of Science degree in economics (with a concentration in finance) from the University of Pennsylvania and his Master of Business Administration degree from Harvard Business School. He is also a Chartered Financial Analyst charterholder.
Ford E. O'Neil   (2015-07-31)
Ford O’Neil, Portfolio Manager, manages retail and institutional assets. Mr. O’Neil joined Fidelity as an analyst in 1989 and has been a portfolio manager since 1992. Prior to joining Fidelity, he worked for Advest, Inc. as an associate in investment banking from 1985 to 1989. Mr. O’Neil received a Bachelor of Arts degree in government from Harvard College and a Master of Business Administration from The Wharton School at the University of Pennsylvania.
Investment Advisor(s)
Fidelity Management & Research Company LLC
Issuer
Fidelity Investments
Subadvisor(s)
FMR Investment Management (U.K.) Limited
Fidelity Management & Research (Japan) Limited
Fidelity Management & Research (HK) Ltd
Show Data Definitions

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