Investment objective & strategy
As of April 18, 2025 · prospectusObjective. VIP FundsManager 50% Portfolio seeks high total return.
Strategy. Normally investing in a combination of underlying Fidelity retail and Variable Insurance Products (VIP) mutual funds and exchange-traded funds (underlying Fidelity funds). Using a target asset allocation among underlying Fidelity funds of approximately: Domestic Equity Funds 30% International Equity Funds 20% Fixed-Income Funds 40% Money Market Funds 10% Actively managing underlying Fidelity fund holdings to achieve portfolio characteristics similar to the Fidelity VIP FundsManager 50% Composite IndexSM, which is a hypothetical representation of the performance of the asset classes in which the underlying Fidelity funds invest, based on combinations of the following unmanaged indexes: Dow Jones U.S. Total Stock Market IndexSM (equities); MSCI ACWI ex USA Index (international equities); Bloomberg U.S. Aggregate Bond Index (bonds); and Bloomberg U.S. 3-Month Treasury … Normally investing in a combination of underlying Fidelity retail and Variable Insurance Products (VIP) mutual funds and exchange-traded funds (underlying Fidelity funds). Using a target asset allocation among underlying Fidelity funds of approximately: Domestic Equity Funds 30% International Equity Funds 20% Fixed-Income Funds 40% Money Market Funds 10% Actively managing underlying Fidelity fund holdings to achieve portfolio characteristics similar to the Fidelity VIP FundsManager 50% Composite IndexSM, which is a hypothetical representation of the performance of the asset classes in which the underlying Fidelity funds invest, based on combinations of the following unmanaged indexes: Dow Jones U.S. Total Stock Market IndexSM (equities); MSCI ACWI ex USA Index (international equities); Bloomberg U.S. Aggregate Bond Index (bonds); and Bloomberg U.S. 3-Month Treasury Bellwether Index (short-term investments). Using proprietary fundamental and quantitative fund research, considering factors including fund performance, a fund manager's experience and investment style, and fund characteristics such as expense ratio, asset size, and portfolio turnover to select underlying Fidelity funds.
Top holdings
As of March 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| VIP Stock Selector Portfolio - Investor Class | — | $897.63M | 23.52% |
| VIP Investment Grade Bond II Portfolio - Investor Class | — | $656.71M | 17.21% |
| Fidelity Total Bond Fund | — | $654.76M | 17.16% |
| MONEY MARKET FUND | FRGXX | $209.19M | 5.48% |
| Fidelity Cash Central Fund | — | $187.76M | 4.92% |
| Fidelity Overseas Fund | — | $174.15M | 4.56% |
| FIDELITY EMERGING MARKETS FUND | — | $170.24M | 4.46% |
| Fidelity Total International Equity Fund | — | $85.34M | 2.24% |
| FIDELITY STOCK SELECTOR SMALL CAP FUND | FDSCX | $82.15M | 2.15% |
| FMR-ENH INTL | FENI | $78.09M | 2.05% |
Portfolio moves
Dec 31, 2025 → Mar 31, 2026How 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.
Similar funds
Funds whose portfolios most overlap this one, by weight| Fund | Overlap | Net exp. |
|---|---|---|
| VIP FundsManager 40% Portfolio | 91% | 0.59% |
| VIP FundsManager 60% Portfolio | 89% | 0.66% |
| VIP FundsManager 30% Portfolio | 82% | 0.55% |
Advisers
| Firm | Role |
|---|---|
| Fidelity Management & Research Company LLC | Adviser |
Footnotes
- Net assets and holdings count as of March 31, 2026, from the fund's N-PORT filing.
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