Fidelity VIP Investor Freedom Income

  • Trading Symbol: FBXOT
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Morningstar® Snapshot*

AS OF 6/30/2015; MORNINGSTAR CATEGORY: RETIREMENT INCOME
Returns 4 out of 5, Above Average Returns
LOW AVG HIGH
Risk of this Category Category Risk Rating:4, where 1 is Lower and 10 is Higher
LOWER HIGHER

*Data provided by Morningstar.

Performance

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AS OF 6/30/2015
Average Annual Returns
YTD (Daily)* 1 Yr 3 Yr 5 Yr Life
FBXOT +1.40% +1.56% +4.26% +4.72% +4.09%
*AS OF 7/30/2015; Value is cumulative
SUBACCOUNT INCEPTION 8/15/2005

Hypothetical Growth of $10,000

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AS OF 06/30/2015; MORNINGSTAR CATEGORY: RETIREMENT INCOME
Shows growth of hypothetical $10,000 investment in Fidelity VIP Investor Freedom Income fund over the selected time period

The chart illustrates the performance of a hypothetical $10,000 investment made in the fund ten years ago or on commencement of operations (whichever is later). Figures include reinvestment of capital gains and dividends, and reflect the effects of the annual annuity charge and the underlying fund's expenses. Figures do not reflect the effects of any applicable redemption fees, maintenance charges, or surrender fees, which would lower these figures. This chart is not intended to imply any future performance of the fund.

The performance data featured represents past performance, which is no guarantee of future results. Investment returns and the principal value of a variable annuity will fluctuate; therefore, you may have a gain or loss when money is withdrawn or received. Fund performance fluctuates and currently may be significantly higher or lower than stated.

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
This Fund -- 6.57% 5.81% -10.77% 14.57% 7.23% 1.29% 6.27% 5.16% 3.54% 1.15%
Benchmark 2.43% 4.33% 6.97% 5.24% 5.93% 6.54% 7.84% 4.21% -2.02% 5.97% -0.10%
Benchmark-2 3.52% 6.98% 5.80% -7.24% 10.03% 6.16% 2.82% 5.05% 4.94% 4.56% 0.64%
Category -- 6.96% 4.64% -16.38% 13.90% 6.57% 0.33% 5.33% 4.15% 2.54% 0.54%
+/- Benchmark -- 2.24% -1.16% -16.01% 8.64% 0.69% -6.55% 2.06% 7.18% -2.43% 1.25%
+/- Benchmark-2 -- -0.41% 0.01% -3.53% 4.54% 1.07% -1.53% 1.22% 0.22% -1.02% 0.51%
+/- Category -- -0.39% 1.17% 5.61% 0.67% 0.66% 0.96% 0.94% 1.01% 1.00% 0.61%

Fund Manager(s)

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Andrew J Dierdorf since 6/21/2011 Brett F Sumsion since 1/21/2014

Strategic Advisers®, Inc., a registered investment adviser and a subsidiary of FMR LLC, serves as the investment manager

Fund Overview

Objective

Seeks high total return with a secondary objective of principal preservation.

Strategy

Investing in a combination of underlying Fidelity Variable Insurance Products domestic equity funds, international equity funds, bond funds, and short-term funds. Allocating assets among underlying Fidelity funds according to a neutral asset allocatstrategy of approximately 17% in domestic equity funds, 7% in international equity funds, 46% in bond funds, and 30% in short-term funds. Through an active asset allocation strategy, the Adviser may increase or decrease neutral asset class exposures by up to 10 percentage points for Equity (includes domestic and international equity funds), Bond and Short Term Funds to reflect the Adviser s market outlook, which is primarily focused on the intermediate term.

Risk

The fund is subject to risks resulting from the asset allocation decisions of the Investment Adviser. Pursuant to the Adviser s ability to use an active asset allocation strategy, investors may be subject to a different risk profile compared to the fund s neutral asset allocation strategy shown in its glide path. The fund is subject to the volatility of the financial markets, including that of equity and fixed income investments. Fixed income investments entail issuer default and credit risk, inflation risk, and interest rate risk (as interest rates rise, bond prices usually fall and vice versa). This effect is usually more pronounced for longer-term securities. No target date fund is considered a complete retirement program and there is no guarantee and single fund will provide sufficient retirement income at or through retirement. Principal invested is not guaranteed at any time, including at or after the funds' target dates.

Details

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Morningstar Category
Retirement Income
Subaccount Inception
8/15/2005
Unit Value
$14.90
7/30/2015
4/30/2015
Turnover Rate
26%
12/31/2014
Net Assets ($M)
$49.77
6/30/2015
12 Month Low-High
$14.43 - $15.08
6/30/2015

Quarter-End Average Annual Total Returns

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AS OF 6/30/2015; *SUBACCOUNT INCEPTION 8/15/2005 Glossary definition opens in new window.

EXPENSE RATIO (GROSS):
0.49% AS OF 4/30/2015
1 Yr 3 Yr 5 Yr 10 Yr Life*
Fidelity VIP Investor Freedom Income 1.56% 4.26% 4.72% -- 4.09%
Barclays U.S. Agg Bond 1.86% 1.83% 3.35% 4.44% --
FID FF Income Comp Idx 1.76% 4.18% 4.63% 4.07% --
Retirement Income 0.33% 3.22% 3.69% 3.03% --

© 2015 Morningstar, Inc. All rights reserved. The Morningstar information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or redistributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Fidelity does not review the Morningstar data and, for fund performance, you should check the fund's current prospectus or other product materials for the most up-to-date information concerning applicable loads, fees and expenses.