Morningstar® Investment Profile™   Morningstar®
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Fidelity® VIP Investment Grade Bd Init
Release date as of 2022-05-31. Data on page is subject to change.
Snapshot Ratings & Risk Portfolio Nuts & Bolts
  Morningstar Report
Overall Morningstar
What is this?
As of 2022-05-31
Out of 396
Intermediate Core Bond Funds
Style Box™
What is this?
As of 2022-03-31
Total Fund Assets ($ Mil)
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
U.S. Stocks 0.0
Non-U.S. Stocks 0.0
Bonds 99.7
Cash -1.0
Other 1.3
Total 100.0
Asset Allocation Long/Short/Net Graph
Data through 2022-03-31
Morningstar Fixed-Income Sectors
% Fund
Government 35.87
Corporate 31.93
Securitized 27.45
Municipal 0.74
Cash & Equivalents 4.01
Other 0.00
Data through 2022-03-31
Credit Analysis
% Bonds
AAA 58.61
AA 2.43
A 11.24
BBB 22.70
BB 2.52
B 0.11
Below B 0.00
Not Rated 2.39
Data through 2022-03-31
Credit Analysis Graph
Holding Status
Total Number of Stock Holdings 0
Total Number of Bond Holdings 2161
% of Net Assets in Top 10 Holdings 28.59
Turnover % (as of 2021-12-31) 125.00
30 Day SEC Yield % 2.97
Top Holdings
% of Net
United States Treasury Notes 1.25% 2028-05-31 280,574 261,208 5.09
United States Treasury Bonds 2% 2051-08-15 253,060 228,307 4.45
Fidelity Revere Str Tr --- 207,758 207,799 4.05
United States Treasury Notes 0.25% 2025-07-31 208,468 193,273 3.77
United States Treasury Notes 1.125% 2031-02-15 133,949 120,947 2.36
United States Treasury Notes 0.75% 2026-03-31 117,697 109,757 2.14
United States Treasury Notes 1.375% 2031-11-15 112,397 103,124 2.01
United States Treasury Bonds 1.75% 2041-08-15 98,418 85,301 1.66
United States Treasury Notes 1.125% 2028-08-31 86,127 79,351 1.55
United States Treasury Notes 0.125% 2023-08-31 79,588 77,431 1.51
Data through 2022-03-31
  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 is a portfolio manager at FMRCo. In this role he co-manages multiple bond funds and is a member of the bond division’s Core/Core Plus team. Prior to assuming his current position, Mr. Munoz worked as a research analyst covering the insurance industry and the GSEs. Previously, he worked as an equity research analyst from 2005 to 2012. Mr. Munoz joined Fidelity in 2005 and has been in the investments industry since 1999. Mr. Munoz earned his bachelor of science degree in economics from the University of Pennsylvania and his MBA from Harvard Business School. He is a CFA charterholder.
Ford E. O'Neil   (2015-07-31)
Ford O’Neil is a portfolio manager at FMRCo. In this role, Mr. O’Neil manages various retail and institutional taxable bond funds/portfolios. His responsibilities include managing multiple Fidelity and Fidelity Advisor funds and various institutional comingled pools. Prior to assuming his current role, he worked as an analyst focusing on the utility sector from 1990 to 1992. Mr. O’Neil joined Fidelity in 1990 and has been in the investments industry since 1985. He earned his bachelor of arts degree from Harvard College and his MBA from The Wharton School at the University of Pennsylvania.
Investment Advisor(s)
Fidelity Management & Research Company LLC
Fidelity Investments
FMR Investment Management (U.K.) Limited
Fidelity Management & Research (Japan) Limited
Fidelity Management & Research (HK) Ltd
Show Data Definitions

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