Fidelity VIP Equity-Income

  • Trading Symbol: FBYNC
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Morningstar® Snapshot*

AS OF 11/30/2014; MORNINGSTAR CATEGORY: LARGE VALUE
Returns 3 out of 5, Average Returns
LOW AVG HIGH
Risk of this Category Category Risk Rating:6, where 1 is Lower and 10 is Higher
LOWER HIGHER

*Data provided by Morningstar. Please click on the indicator above to learn more about comparison groups and methodology.

Performance

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AS OF 11/30/2014
Average Annual Returns
YTD (Daily)* 1 Yr 3 Yr 5 Yr 10 Yr
FBYNC +7.64% +10.55% +17.70% +13.08% +5.59%
*AS OF 12/18/2014; Value is cumulative

Fund Manager(s)

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James Morrow since 4/1/2011 Adam Kramer since 4/1/2011

Fund Overview

Objective

Seeks reasonable income. The fund will also consider the potential for capital appreciation. The fund's goal is to achieve a yield which exceeds the composite yield on securities comprising the Standard & Poor's 500 Index.

Strategy

Normally investing at least 80% of assets in equity securities. Normally investing primarily in income-producing equity securities, which tends to lead to investments in large cap "value" stocks. Potentially investing in other types of equity securities and debt securities, including lower-quality debt securities. Investing in domestic and foreign issuers. Using fundamental analysis of factors such as each issuer's financial condition and industry position, as well as market and economic conditions, to select investments. Potentially using covered call options as tools in managing the fund's assets.

Risk

Stock markets, especially foreign markets, are volatile and can decline significantly in response to adverse issuer, political, regulatory, market, or economic developments. Fixed income investments entail interest rate risk (as interest rates rise bond prices usually fall), the risk of issuer default, issuer credit risk and inflation risk. Foreign securities are subject to interest rate, currency exchange rate, economic, and political risks. Lower-quality bonds can be more volatile and have greater riskof default than higher-quality bonds. Value stocks can perform differently than other types of stocks and can continue to be undervalued by the market for long periods of time.

Details

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Morningstar Category
Large Value
Subaccount Inception
2/10/1988
4/30/2014
Turnover Rate
39%
6/30/2014
Net Assets ($M)
$69.40
11/30/2014

Fixed Income
Characteristics

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30-Day Yield
1.42%
11/30/2014

Top 10 Holdings

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AS OF 9/30/2014
Top 10 Holdings
JPMORGAN CHASE & CO
CHEVRON CORP
GENERAL ELECTRIC CO
CISCO SYSTEMS INC
PROCTER & GAMBLE CO
JOHNSON & JOHNSON
VERIZON COMMUNICATIONS INC
METLIFE INC
INTL BUS MACH CORP
WELLS FARGO & CO
% of Total Portfolio 25.11%
Total # of holdings: 236 as of 9/30/2014
Total # of issuers: 216 as of 9/30/2014

Quarter-End Average Annual Total Returns

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AS OF 9/30/2014; *SUBACCOUNT INCEPTION 2/10/1988 Glossary definition opens in new window.

EXPENSE RATIO (GROSS):
0.57% AS OF 4/30/2014
1 Yr 3 Yr 5 Yr 10 Yr Life*
Fidelity VIP Equity-Income 13.34% 20.20% 12.97% 5.92% 8.52%
Russell 3000 Value 17.66% 23.67% 15.08% 7.79% --
Large Value 15.31% 20.86% 12.55% 5.80% --

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