VIP Freedom 2045 Portfolio
Data updated: 2026-08-24
C000075281 — VIP Freedom 2045 Portfolio. Target Date / Glide Path Allocation · $297.25M AUM. Holdings, fees, performance and SEC filings.
C000075281 Fund Overview
VIP Freedom 2045 Portfolio is a US mutual fund managed by Variable Insurance Products Fund V, categorised as Target Date / Glide Path Allocation. 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: Target Date / Glide Path Allocation
- Assets under management: $297.25M
- 1-year return: 21.5%
- SEC CIK: 0000823535
- SEC series ID: S000025270
- Share class ID: C000075281
C000075281 Investment Objective and Strategy
VIP Freedom 2045 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 Freedom 2045 Portfolio? seeks high total return with a
Principal investment strategy
Investing primarily in a combination of Fidelity U.S. equity funds, international equity funds, bond funds, and short-term funds (underlying Fidelity funds). Allocating assets according to a neutral asset allocation strategy shown in the glide path below that adjusts over time until it reaches an allocation similar to that of the VIP Freedom Retirement PortfolioSM, approximately 15 to 20 years after the year 2045. Fidelity Management & Research Company LLC (FMR) (the Adviser) may modify the fund's neutral asset allocations from time to time when in the interests of shareholders. A revised neutral asset allocation strategy for the fund is expected to take effect by the end of the first quarter of 2027, as illustrated in the following chart. The Adviser has begun transitioning the neutral asset allocation percentages to achieve the desired allocations.
The neutral asset allocation shown in the glide path depicts the allocation to U.S. equity funds, international equity funds, bond funds (including U.S. investment grade bond, international bond, inflation-protected bond, and long-term treasury bond funds), and short-term funds. Buying and selling futures contracts (both long and short positions) in an effort to manage cash flows efficiently, remain fully invested, or facilitate asset allocation. The Adviser, under normal market conditions, will make investments that are consistent with seeking high total return for several years beyond the fund's target retirement date in an effort to achieve the fund's overall investment objective. The Adviser, under normal market conditions, will use an active asset allocation strategy to increase or decrease asset class exposures relative to the neutral asset allocations reflected above by up to 10% for equity funds, bond funds and short-term funds to reflect the Adviser's market outlook, which is primarily focused on the intermediate term.
The asset allocations in the glide path above are referred to as neutral because they do not reflect any decisions made by the Adviser to overweight or underweight an asset class. The Adviser may also make active asset allocations within other asset classes (such as commodities, high yield debt (also referred to as junk bonds), floating rate debt, real estate debt, and emerging markets debt) from 0% to 10% of the fund's total assets individually, but no more than 25% in aggregate within those other asset classes. Such asset classes are not reflected in the neutral asset allocations reflected in the glide path above. 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.
Designed for investors who anticipate retiring in or within a few years of 2045 (target retirement date) at or around age 65. When the neutral asset allocation of a fund matches VIP Freedom Retirement Portfolio's neutral asset allocation (approximately 15 to 20 years after the year indicated in the fund's name), the Board of Trustees may combine the fund with VIP Freedom Retirement Portfolio SM , without shareholder approval, and the fund's shareholders will become shareholders of VIP Freedom Retirement Portfolio SM .
C000075281 Holdings
Top 10 holdings of VIP Freedom 2045 Portfolio by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Variable Insurance Products Fund | 27.22% |
| Variable Insurance Products Fund | 15.15% |
| Variable Insurance Products Fund II | 14.60% |
| Variable Insurance Products Fund III | 10.06% |
| Variable Insurance Products Fund II | 9.13% |
| Variable Insurance Products Fund | 7.26% |
| Fidelity Salem Street Trust | 5.49% |
| Variable Insurance Products Fund | 5.16% |
| Variable Insurance Products Fund III | 2.61% |
| Variable Insurance Products Fund III | 2.42% |
C000075281 Portfolio Allocation
Asset-class allocation of VIP Freedom 2045 Portfolio by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Equity | 100.0% |
C000075281 Performance
Total returns for C000075281 (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| YTD | 12.9% |
| 1 year | 21.5% |
| 3 years (annualised) | 17.9% |
| 5 years (annualised) | 9.4% |
C000075281 Risk Information
Risk metrics for C000075281, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 12.0%
C000075281 Costs and Fees
C000075281 costs about $70 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.70%
- Gross expense ratio: 0.70%
- Portfolio turnover: 33%
- Brokerage commissions: 0.00 bps of average net assets (SEC N-CEN)
C000075281 Cashflows
Over the 12 months to 2026-06, VIP Freedom 2045 Portfolio had net inflows of $36.83M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-06 | −$1.73M |
| 2026-05 | $4.30M |
| 2026-04 | $100.62K |
| 2026-03 | $6.23M |
| 2026-02 | $19.47M |
| 2026-01 | −$2.75M |
C000075281 Debt Constituents
No individual debt constituents are reported in VIP Freedom 2045 Portfolio's latest SEC N-PORT filing.
C000075281 Prospectus and SEC Filings
Official VIP Freedom 2045 Portfolio filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2026-04-20
- Prospectus (485BPOS) — filed 2025-04-18
- Prospectus supplement (497) — filed 2025-09-09
- 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 Target Date / Glide Path Allocation 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.