Investment objective & strategy
As of April 18, 2025 · prospectusObjective. VIP FundsManager 85% 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 51% International Equity Funds 34% Fixed-Income Funds 15% Money Market Funds 0% Actively managing underlying Fidelityfund holdings to achieve portfolio characteristics similar to the Fidelity VIP FundsManager 85% 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); and Bloomberg U.S. Aggregate Bond Index (bonds). Using proprietary fundamental and quantitative … 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 51% International Equity Funds 34% Fixed-Income Funds 15% Money Market Funds 0% Actively managing underlying Fidelityfund holdings to achieve portfolio characteristics similar to the Fidelity VIP FundsManager 85% 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); and Bloomberg U.S. Aggregate Bond Index (bonds). 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 | — | $493.27M | 40.48% |
| Fidelity Overseas Fund | — | $97.88M | 8.03% |
| FIDELITY EMERGING MARKETS FUND | — | $94.49M | 7.75% |
| VIP Investment Grade Bond II Portfolio - Investor Class | — | $54.68M | 4.49% |
| Fidelity Total Bond Fund | — | $54.51M | 4.47% |
| Fidelity Total International Equity Fund | — | $47.41M | 3.89% |
| FIDELITY STOCK SELECTOR SMALL CAP FUND | FDSCX | $45.70M | 3.75% |
| FMR-ENH INTL | FENI | $42.89M | 3.52% |
| FIDELITY INTERNATIONAL CAPITAL APPRECIATION FUND | — | $42.50M | 3.49% |
| Fidelity International Discovery Fund | — | $35.67M | 2.93% |
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 70% Portfolio | 84% | 0.68% |
| VIP FundsManager 60% Portfolio | 74% | 0.66% |
| VIP FundsManager 50% Portfolio | 64% | 0.64% |
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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