Investment objective & strategy
As of April 18, 2025 · prospectusObjective. VIP Bond Index Portfolio seeks to provide investment results that correspond to the aggregate price and interest performance of the debt securities in the Bloomberg U.S. Aggregate Bond Index.
Strategy. Normally investing at least 80% of assets in bonds included in the Bloomberg U.S. Aggregate Bond Index. The index is a broad based, flagship benchmark that measures the investment grade, US dollar-denominated, fixed-rate taxable bond market. The index includes Treasuries, government-related and corporate securities, mortgage-backed securities (agency fixed-rate pass-throughs), asset-backed securities and collateralized mortgage-backed securities (agency and non-agency). Effective December 11, 2025, 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. Using statistical sampling techniques based on duration, maturity, interest rate sensitivity, security structure, and … Normally investing at least 80% of assets in bonds included in the Bloomberg U.S. Aggregate Bond Index. The index is a broad based, flagship benchmark that measures the investment grade, US dollar-denominated, fixed-rate taxable bond market. The index includes Treasuries, government-related and corporate securities, mortgage-backed securities (agency fixed-rate pass-throughs), asset-backed securities and collateralized mortgage-backed securities (agency and non-agency). Effective December 11, 2025, 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. Using statistical sampling techniques based on duration, maturity, interest rate sensitivity, security structure, and credit quality to attempt to replicate the returns of the Bloomberg U.S. Aggregate Bond Index using a smaller number of securities. Engaging in transactions that have a leveraging effect on the fund, including investments in derivatives - such as swaps (interest rate, total return, and credit default), options, and futures contracts - and forward-settling securities, to adjust the fund's risk exposure.
Top holdings
As of March 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| US TREASURY N/B | — | $17.06M | 1.41% |
| US TREASURY N/B | — | $10.05M | 0.83% |
| US TREASURY N/B | — | $9.78M | 0.81% |
| US TREASURY N/B | — | $8.93M | 0.74% |
| US TREASURY N/B | — | $8.72M | 0.72% |
| US TREASURY N/B | — | $8.59M | 0.71% |
| US TREASURY N/B | — | $8.34M | 0.69% |
| US TREASURY N/B | — | $7.87M | 0.65% |
| US TREASURY N/B | — | $7.75M | 0.64% |
| US TREASURY N/B | — | $7.57M | 0.62% |
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. |
|---|---|---|
| Fidelity Flex U.S. Bond Index Fund · FIBUX | 54% | 0.00% |
| Fidelity Sustainability Bond Index Fund · FNDSX | 54% | 0.10% |
| Fidelity Series Bond Index Fund · FIFZX | 53% | 0.00% |
Advisers
| Firm | Role |
|---|---|
| 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
- Net assets and holdings count as of March 31, 2026, from the fund's N-PORT filing.
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