Fidelity VIP Strategic Income

  • Trading Symbol: FGDQC
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Morningstar® Snapshot*

AS OF 6/30/2014; MORNINGSTAR CATEGORY: MULTISECTOR BOND
Returns 5 out of 5, High Returns
LOW AVG HIGH
Risk of this Category Category Risk Rating:4, where 1 is Lower and 10 is Higher
LOWER HIGHER

*All data provided by Morningstar. Please click on each indicator above to learn more about comparison groups and methodology.

Performance

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AS OF 6/30/2014
Average Annual Returns
YTD (Daily)* 1 Yr 3 Yr 5 Yr Life
FGDQC +5.40% +8.15% +5.25% +8.39% +6.58%
*AS OF 7/25/2014; Value is cumulative
SUBACCOUNT INCEPTION 8/15/2005

Hypothetical Growth of $10,000

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AS OF 06/30/2014; MORNINGSTAR CATEGORY: MULTISECTOR BOND
Shows growth of hypothetical $10,000 investment in Fidelity VIP Strategic 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and the principal value of a variable annuity will fluctuate; therefore, you may have a gain or loss when money is withdrawn or received.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.

Fund Manager(s)

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Ford O'Neil since 6/1/2012 Franco Castagliuolo since 12/1/2009 Bill Irving since 4/1/2008 Joanna Bewick since 4/1/2008 David Simner since 7/1/2007 Jonathan Kelly since 12/31/2003 Mark Notkin since 12/31/2003

Fund Overview

Objective

Seeks a high level of current income. The fund may also seek capital appreciation.

Strategy

Investing primarily in debt securities by allocating assets among four general investment categories: high yield securities, U.S. Government and investment-grade securities, emerging markets securities, and foreign developed market securities. The fund uses a neutral mix of approximately 40% high yield, 30% U.S. Government and investment-grade, 15% emerging markets, and 15% foreign developed markets. Engaging in transactions that have a leveraging effect on the fund.

Risk

Stock markets, especially foreign markets, are volatile and can decline significantly in response to 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 all of which are magnified in emerging markets. Lower-quality bonds can be more volatile and have greater risk of default than higher-quality bonds. Leverage can increase market exposure and magnify investment risk.

Details

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Morningstar Category
Multisector Bond
Subaccount Inception
8/15/2005
Unit Value
$17.58
7/25/2014
4/30/2014
Turnover Rate
141%
12/31/2013
Net Assets ($M)
$519.59
6/30/2014
12 Month Low-High
$16.15 - $17.61
6/30/2014

Fixed Income
Characteristics

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30-Day Yield
2.78%
6/30/2014

Top 10 Holdings

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AS OF 6/30/2014
Top 10 Holdings
ITALY GOVT 2.5% 5/19
CANADA GOVT 1.25% 2/01/16
USTN .375% 01/15/16
USTB 3.625% 02/15/44
UST NOTES 0.5% 06/30/2016
USTN 2.75% 02/15/24
UK GILT 2.75% 1/22/15
ENERGY FUT TRM 1LN DIP 06/16
ALLY FINANCIAL INC 8% 3/15/20
ITALY GOVT 4.5% 03/01/24
% of Total Portfolio 12.30%
Total # of holdings: 1480 as of 6/30/2014

Quarter-End Average Annual Total Returns

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AS OF 6/30/2014; *SUBACCOUNT INCEPTION 8/15/2005 Glossary definition opens in new window.

EXPENSE RATIO (GROSS):
0.72% AS OF 4/30/2014
1 Yr 3 Yr 5 Yr 10 Yr Life*
Fidelity VIP Strategic Income 8.15% 5.25% 8.39% -- 6.58%

© 2013 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.