VIP Equity-Income Portfolio
Variable Insurance Products Fund
Expense ratio
Net assets1
$6.84B
Holdings1
124
Category
US Equity
Return

Investment objective & strategy

As of April 18, 2025 · prospectus

Objective. VIP Equity-Income Portfolio? seeks reasonable income. The fund will also consider the potential for capital appreciation. The fund's goal is to achieve a yield which exceeds the composite yield on the securities comprising the S&P 500 Index.

Strategy. Normally investing at least 80% of assets in equity securities. Normally investing primarily in income-producing equity securities, which tends to lead to investments in large cap "value" stocks. Potentially investing in other types of equity securities and debt securities, including lower-quality debt securities (those of less than investment-grade quality, also referred to as high yield debt securities or junk bonds). Investing in domestic and foreign issuers. Using fundamental analysis of factors such as each issuer's financial condition and industry position, as well as market and economic conditions, to select investments. Potentially using covered call options as tools in managing the fund's assets. Effective December 11, 2025, normally investing at least 80% of assets in income-producing equity securities. Equity securities represent … Normally investing at least 80% of assets in equity securities. Normally investing primarily in income-producing equity securities, which tends to lead to investments in large cap "value" stocks. Potentially investing in other types of equity securities and debt securities, including lower-quality debt securities (those of less than investment-grade quality, also referred to as high yield debt securities or junk bonds). Investing in domestic and foreign issuers. Using fundamental analysis of factors such as each issuer's financial condition and industry position, as well as market and economic conditions, to select investments. Potentially using covered call options as tools in managing the fund's assets. Effective December 11, 2025, normally investing at least 80% of assets in income-producing equity securities. Equity securities represent an ownership interest, or the right to acquire an ownership interest, in an issuer. Equity securities include common stocks (including depositary receipts evidencing ownership of common stock), preferred stocks and other preferred securities, convertible securities, rights and warrants, and other securities, such as hybrid securities and trust preferred securities, believed to have equity-like characteristics. Income-producing equity securities are equity securities that pay, or are expected to pay within the next three months, dividends or interest. Derivative instruments that provide investment exposure to the investments above or exposure to one or more market risk factors associated with such investments are included in the fund's 80% policy, consistent with the fund's investment policies and limitations with respect to investments in derivatives.

Top holdings

As of March 31, 2026 · N-PORT
SecurityTickerValue% of fund
EXXON MOBIL CORP $260.02M 3.80%
JPMORGAN CHASE and CO $217.92M 3.19%
ALPHABET INC CL A $217.50M 3.18%
Fidelity Cash Central Fund $202.14M 2.96%
JOHNSON&JOHNSON $153.69M 2.25%
LINDE PLC $143.57M 2.10%
WALMART INC $126.34M 1.85%
GILEAD SCIENCES INC $125.97M 1.84%
WELLS FARGO & CO $125.19M 1.83%
ABBVIE INC $120.21M 1.76%
View all holdings →

Allocation by sector

As of March 31, 2026 · N-PORT
View portfolio breakdown →

Portfolio moves

Dec 31, 2025 → Mar 31, 2026
Opened
3
Exited
1
Increased
17
Decreased
62
Unchanged
42

How many positions this fund opened, exited, grew, trimmed, or left unchanged between its two most recent N-PORT snapshots — net changes between point-in-time reports, not a trade log.

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Similar funds

Funds whose portfolios most overlap this one, by weight
FundOverlapNet exp.
Fidelity Equity-Income Fund · FEQIX, FEIKX, FIOMX, FINQX, FINHX, FINYX, FIOPX 94% 0.44%
Fidelity Equity-Income K6 Fund · FEKFX 94% 0.34%
Fidelity Global Equity Income Fund · FGILX, FGEHX, FGEKX, FGEEX, FGEGX, FGEJX 54% 0.82%
View all similar funds →

Advisers

As of December 31, 2025 · N-CEN
FirmRole
FMR Investment Management (UK) Limited Sub-adviser
Fidelity Management & Research (Japan) Limited Sub-adviser
Fidelity Management & Research (Hong Kong) Limited Sub-adviser
Fidelity Management & Research Company LLC Adviser

Footnotes

  1. Net assets and holdings count as of March 31, 2026, from the fund's N-PORT filing.

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