Investment objective & strategy
As of April 18, 2025 · prospectusObjective. VIP FundsManager 40% Portfolio seeks current income as well as total return. The fund also considers the potential for capital appreciation.
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 24% International Equity Funds 16% Fixed-Income Funds 45% Money Market Funds 15% Actively managing underlying Fidelity fund holdings to achieve portfolio characteristics similar to the Fidelity VIP FundsManager 40% Composite Index?, 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 Index? (equities); MSCI ACWI ex USA Index (international equities); Bloomberg U.S. Aggregate Bond Index (bonds); and Bloomberg U.S. 3 Month … 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 24% International Equity Funds 16% Fixed-Income Funds 45% Money Market Funds 15% Actively managing underlying Fidelity fund holdings to achieve portfolio characteristics similar to the Fidelity VIP FundsManager 40% Composite Index?, 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 Index? (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 Investment Grade Bond II Portfolio - Investor Class | — | $12.29M | 19.65% |
| Fidelity Total Bond Fund | — | $12.25M | 19.59% |
| VIP Stock Selector Portfolio - Investor Class | — | $11.83M | 18.92% |
| MONEY MARKET FUND | FRGXX | $5.75M | 9.19% |
| Fidelity Cash Central Fund | — | $2.91M | 4.65% |
| FIDELITY EMERGING MARKETS FUND | — | $2.89M | 4.62% |
| Fidelity Overseas Fund | — | $2.26M | 3.62% |
| FMR-ENH INTL | FENI | $1.55M | 2.48% |
| Fidelity Inflation-Protected Bond Index Fund | — | $1.18M | 1.89% |
| Fidelity Total International Equity Fund | — | $1.11M | 1.78% |
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 50% Portfolio | 91% | 0.64% |
| VIP FundsManager 30% Portfolio | 90% | 0.55% |
| VIP FundsManager 60% Portfolio | 81% | 0.66% |
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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