VIP Strategic Income Portfolio
Data updated: 2026-08-24
C000048812 — VIP Strategic Income Portfolio. Intermediate Total / Aggregate Bond · $1.71B AUM. Holdings, fees, performance and SEC filings.
C000048812 Fund Overview
VIP Strategic Income Portfolio is a US mutual fund managed by Variable Insurance Products Fund V, categorised as Intermediate Total / Aggregate Bond. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Variable Insurance Products Fund V
- Category: Intermediate Total / Aggregate Bond
- Assets under management: $1.71B
- 1-year return: 7.8%
- SEC CIK: 0000823535
- SEC series ID: S000017666
- Share class ID: C000048812
C000048812 Investment Objective and Strategy
VIP Strategic Income Portfolio describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Variable Insurance Products Fund V.
Investment objective
VIP Strategic Income Portfolio seeks a high level of current income. The fund may also seek capital appreciation.
Principal investment strategy
Normally investing at least 80% of assets in a combination of debt securities and income-producing equity securities. Debt securities are used by issuers to borrow money. The issuer usually pays a fixed, variable, or floating rate of interest, and must repay the amount borrowed, usually at the maturity of the security. Debt securities include corporate bonds, government securities (including Treasury securities), repurchase agreements, money market securities, mortgage and other asset-backed securities, loans and loan participations, and other securities, such as hybrids and synthetic securities, believed to have debt-like characteristics (e.g., securities classified as Tier 2 Regulatory capital, securities that rank above share capital in an insolvency waterfall, securities with maturity dates and non-cancellable interest payment structures).
Equity securities represent an ownership interest, or the right to acquire an ownership interest, in an issuer. Equity securities include common stocks (including depositary receipts evidencing ownership of common stock), preferred stocks and other preferred securities, convertible securities, rights and warrants, and other securities, such as hybrid securities and trust preferred securities, believed to have equity-like characteristics. Income-producing equity securities are equity securities that pay, or are expected to pay within the next three months, dividends or interest. 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.
Investing primarily in debt securities, including lower-quality debt securities (those of less than investment-grade quality, also referred to as high yield debt securities or junk bonds). Allocating the fund's assets among four general investment categories: high yield securities, U.S. Government and investment-grade securities, emerging markets securities, and foreign developed markets securities. Emerging markets include countries that have an emerging stock market as defined by MSCI, countries or markets with low- to middle-income economies as classified by the World Bank, and other countries or markets that the Adviser identifies as having similar emerging markets characteristics. Using a neutral mix of approximately 45% high yield, 30% U.S. Government and investment-grade, 15% emerging markets, and 10% foreign developed markets.
Analyzing a security's structural features and current pricing, its issuer's potential for success, and the credit, currency, and economic risks of the security and its issuer to select investments. Hedging the fund's foreign currency exposures utilizing forward foreign currency exchange contracts, although not all of the fund's foreign currency exposure will be hedged. Engaging in transactions that have a leveraging effect on the fund, including investments in derivatives - such as swaps (interest rate, total return, and credit default), options, and futures contracts - and forward-settling securities, to adjust the fund's risk exposure. Investing in Fidelity's Central funds (specialized investment vehicles used by Fidelity funds to invest in particular security types or investment disciplines) consistent with the asset classes discussed above.
C000048812 Holdings
Top 10 holdings of VIP Strategic Income Portfolio by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Fidelity Revere Street Trust | 10.01% |
| Fidelity Central Investment Portfolios LLC | 6.36% |
| Ust Notes | 4.51% |
| Ust Notes | 3.45% |
| Germany Federal Republic Of | 3.42% |
| Ishares Broad USD High Yield Corporate Bond ETF | 1.14% |
| Ust Notes | 1.08% |
| Ust Notes | 1.01% |
| Ust Notes | 1.00% |
| Netherlands Government Of | 0.85% |
C000048812 Portfolio Allocation
Asset-class allocation of VIP Strategic Income Portfolio by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Fixed Income | 63.1% |
| Equity | 18.4% |
| Cash & Equivalents | 10.1% |
| Securitized | 3.8% |
| Loans | 3.5% |
| Real Estate | 0.2% |
| Derivatives | 0.1% |
C000048812 Performance
Total returns for C000048812 (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| YTD | 3.4% |
| 1 year | 7.8% |
| 3 years (annualised) | 7.8% |
| 5 years (annualised) | 2.9% |
C000048812 Risk Information
Risk metrics for C000048812, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 3.2%
C000048812 Costs and Fees
C000048812 costs about $88 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.88%
- Gross expense ratio: 0.88%
- Portfolio turnover: 76%
- Brokerage commissions: 0.29 bps of average net assets (SEC N-CEN)
C000048812 Cashflows
Over the 12 months to 2026-06, VIP Strategic Income Portfolio had net inflows of $100.11M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-06 | $11.37M |
| 2026-05 | $490.70K |
| 2026-04 | −$1.52M |
| 2026-03 | −$3.62M |
| 2026-02 | $26.36M |
| 2026-01 | $895.25K |
C000048812 Debt Constituents
Largest debt holdings of VIP Strategic Income Portfolio by percentage of net assets, from the latest SEC N-PORT filing.
| Debt holding | % of net assets |
|---|---|
| Ust Notes | 4.51% |
| Ust Notes | 3.45% |
| Germany Federal Republic Of | 3.42% |
| Ust Notes | 1.08% |
| Ust Notes | 1.01% |
| Ust Notes | 1.00% |
| Netherlands Government Of | 0.85% |
| UNITED KINGDOM,G.B. and N.IRELAND | 0.81% |
| United States Treasury Bond | 0.74% |
| United States Treasury Bond | 0.72% |
C000048812 Prospectus and SEC Filings
Official VIP Strategic Income Portfolio filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2026-04-20
- Prospectus (485BPOS) — filed 2025-04-18
- Prospectus (485BPOS) — filed 2024-04-19
- Portfolio holdings (N-PORT) — filed 2026-08-24
- Portfolio holdings (N-PORT) — filed 2026-05-26
- Portfolio holdings (N-PORT) — filed 2026-02-24
- Annual census (N-CEN) — filed 2026-03-12
- Annual census (N-CEN) — filed 2025-03-14
Related Funds
Other Intermediate Total / Aggregate Bond funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.