Columbia Variable Portfolio - U.S. Government Mortgage Fund
Data updated: 2026-08-28
C000088778 — Columbia Variable Portfolio - U.S. Government Mortgage Fund. Long Securitized (MBS/ABS/CMBS) Bond. Holdings, fees, performance and SEC filings.
C000088778 Fund Overview
Columbia Variable Portfolio - U.S. Government Mortgage Fund is a US mutual fund managed by Columbia Funds Variable Series Trust II, categorised as Long Securitized (MBS/ABS/CMBS) Bond. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Columbia Funds Variable Series Trust II
- Category: Long Securitized (MBS/ABS/CMBS) Bond
- Assets under management: $1.36B
- 1-year return: 4.6%
- SEC CIK: 0001413032
- SEC series ID: S000019851
- Share class ID: C000088778
C000088778 Investment Objective and Strategy
Columbia Variable Portfolio - U.S. Government Mortgage Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Columbia Funds Variable Series Trust II.
Investment objective
Columbia Variable Portfolio U.S. Government Mortgage Fund (the Fund) seeks to provide shareholders with current income as its primary objective and,
Principal investment strategy
The Funds assets primarily are invested in mortgage-related securities. Under normal circumstances , at least 80% of the Funds net assets ( plus the amount of any borrowings for investment purposes) are invested in mortgage-related securities that either are issued or guaranteed as to principal and interest by the U.S. Government, its agencies, authorities or instrumentalities. This includes, but is not limited to, Government National Mortgage Association (GNMA or Ginnie Mae) mortgage-backed bonds, which are backed by the full faith and credit of the U.S. Government; and Federal National Mortgage Association (FNMA or Fannie Mae) and Federal Home Loan Mortgage Corporation (FHLMC or Freddie Mac) mortgage-backed bonds. FNMA and FHLMC are chartered or sponsored by Acts of Congress; however, their securities are neither issued nor guaranteed by the U.S.
Treasury. The Funds investments in mortgage-related securities include investments in stripped mortgage-backed securities such as interest-only (IO) and principal-only (PO) securities. The Fund may invest in debt instruments of any maturity and does not seek to maintain a particular dollar-weighted average maturity. The Fund may invest in privately placed and other securities or instruments that are purchased and sold pursuant to Rule 144A or other exemptions under the Securities Act of 1933, as amended, subject to certain regulatory restrictions. The Fund may invest in derivatives, such as futures (including interest rate futures) to manage duration and yield curve exposure and to manage exposure to movements in interest rates. The Funds use of derivatives creates leverage (market exposure in excess of the Funds assets) in the Funds portfolio.
The Fund may purchase or sell securities on a when-issued, delayed delivery or forward commitment basis. Such securities may include mortgage-backed securities acquired or sold in the to be announced (TBA) market and those in a dollar roll transaction. The Funds investment strategy may involve the frequent trading of portfolio securities.
C000088778 Holdings
Top 10 holdings of Columbia Variable Portfolio - U.S. Government Mortgage Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Umbs, Tba | 5.34% |
| Government National Mortgage Association | 5.30% |
| Umbs, Tba | 5.19% |
| Umbs, Tba | 4.41% |
| Umbs, Tba | 3.54% |
| Columbia Short Term Cash Fund | 3.18% |
| Government National Mortgage Association | 2.73% |
| Umbs, Tba | 1.65% |
| Fanniemae-Aces | 1.48% |
| Fannie Mae | 1.34% |
C000088778 Portfolio Allocation
Asset-class allocation of Columbia Variable Portfolio - U.S. Government Mortgage Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Securitized | 125.3% |
| Cash & Equivalents | 3.2% |
| Fixed Income | 0.9% |
C000088778 Performance
Total returns for C000088778 (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| YTD | 0.7% |
| 1 year | 4.6% |
| 3 years (annualised) | 4.9% |
| 5 years (annualised) | -0.3% |
C000088778 Risk Information
Risk metrics for C000088778, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 3.6%
C000088778 Costs and Fees
C000088778 costs about $70 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.70%
- Gross expense ratio: 0.70%
- Portfolio turnover: 386%
- Brokerage commissions: 0.00 bps of average net assets (SEC N-CEN)
C000088778 Cashflows
Over the 12 months to 2026-06, Columbia Variable Portfolio - U.S. Government Mortgage Fund had net outflows of $49.05M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-06 | −$729.96K |
| 2026-05 | −$1.00M |
| 2026-04 | −$9.30M |
| 2026-03 | −$30.94M |
| 2026-02 | −$6.08M |
| 2026-01 | −$2.67M |
C000088778 Debt Constituents
Largest debt holdings of Columbia Variable Portfolio - U.S. Government Mortgage Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Debt holding | % of net assets |
|---|---|
| Pending | 0.88% |
C000088778 Prospectus and SEC Filings
Official Columbia Variable Portfolio - U.S. Government Mortgage Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2026-04-27
- Prospectus (485BPOS) — filed 2025-04-28
- Prospectus (485BPOS) — filed 2024-04-25
- Portfolio holdings (N-PORT) — filed 2026-08-28
- Portfolio holdings (N-PORT) — filed 2026-05-28
- Portfolio holdings (N-PORT) — filed 2026-02-26
- Annual census (N-CEN) — filed 2026-03-10
- Annual census (N-CEN) — filed 2025-03-12
Related Funds
Other Long Securitized (MBS/ABS/CMBS) 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.