VIP International Index Portfolio
Variable Insurance Products Fund II
Index fund
Expense ratio
Net assets1
$1.27B
Holdings1
2153
Category
International Equity
Return

Investment objective & strategy

As of April 18, 2025 · prospectus

Objective. VIP International Index Portfolio seeks to provide investment results that correspond to the total return of foreign developed and emerging stock markets.

Strategy. Normally investing at least 80% of assets in securities included in the Fidelity Global ex U.S. IndexSM and in depositary receipts representing securities included in the index. The Fidelity Global ex U.S. Index SM is a float-adjusted market capitalization-weighted index designed to reflect the performance of non-U.S. large- and mid-cap stocks. 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 such factors as capitalization, industry exposures, dividend yield, price -to-earnings (P/E) ratio, price -to-book (P/B) … Normally investing at least 80% of assets in securities included in the Fidelity Global ex U.S. IndexSM and in depositary receipts representing securities included in the index. The Fidelity Global ex U.S. Index SM is a float-adjusted market capitalization-weighted index designed to reflect the performance of non-U.S. large- and mid-cap stocks. 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 such factors as capitalization, industry exposures, dividend yield, price -to-earnings (P/E) ratio, price -to-book (P/B) ratio, earnings growth, country weightings, and the effect of foreign taxes to attempt to replicate the returns of the Fidelity Global ex U.S. Index?. Lending securities to earn income for the fund.

Top holdings

As of March 31, 2026 · N-PORT
SecurityTickerValue% of fund
TSMC $48.77M 3.85%
Fidelity Cash Central Fund $30.45M 2.40%
SAMSUNG ELECTRONICS CO LTD $20.68M 1.63%
Fidelity Securities Lending Cash Central Fund $20.59M 1.62%
ASML Holding NV $18.03M 1.42%
TENCENT HOLDINGS LTD $13.50M 1.06%
SK HYNIX INC $11.02M 0.87%
ASTRAZENECA PLC $10.59M 0.84%
BABA-W $10.45M 0.82%
Novartis AG (Registered) NVSEF $10.19M 0.80%
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Allocation by sector

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

Portfolio moves

Dec 31, 2025 → Mar 31, 2026
Opened
14
Exited
17
Increased
2051
Decreased
12
Unchanged
77

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.

View portfolio moves →

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Advisers

As of December 31, 2025 · N-CEN
FirmRole
Fidelity Management & Research Company LLC Adviser
Geode Capital Management, LLC Sub-adviser

Footnotes

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

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