VIP Investment Grade Bond II Portfolio
Data updated: 2026-08-24
C000236280 — VIP Investment Grade Bond II Portfolio. Long Total / Aggregate Bond · $3.67B AUM. Holdings, fees, performance and SEC filings.
C000236280 Fund Overview
VIP Investment Grade Bond II Portfolio is a US mutual fund managed by Variable Insurance Products Fund V, categorised as Long 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: Long Total / Aggregate Bond
- Assets under management: $3.67B
- 1-year return: 3.6%
- SEC CIK: 0000823535
- SEC series ID: S000076420
- Share class ID: C000236280
C000236280 Investment Objective and Strategy
VIP Investment Grade Bond II 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 Investment Grade Bond II Portfolio seeks as high a level of current income as is consistent with the preservation of capital.
Principal investment strategy
Normally investing at least 80% of assets in investment-grade debt securities (those of medium and high quality) of all types and repurchase agreements for those 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).
Investment grade securities in which the fund invests include securities or issuers rated at least BBB- or its equivalent by at least one nationally recognized statistical ratings organization (NRSRO), or, if unrated, determined by the Adviser to be of comparable quality. A repurchase agreement is an agreement to buy a security at one price and a simultaneous agreement to sell it back at an agreed-upon price. 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. Managing the fund to have similar overall interest rate risk to the Bloomberg U.S.
Aggregate Bond Index. Allocating assets across different market sectors and maturities. Investing in domestic and foreign issuers. Analyzing the credit quality of the issuer, security-specific features, current and potential future valuation, and trading opportunities to select investments. Investing in lower-quality debt securities (those of less than investment-grade quality, also referred to as high yield debt securities or junk bonds). 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.
C000236280 Holdings
Top 10 holdings of VIP Investment Grade Bond II Portfolio by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Ust Notes | 4.04% |
| Ust Notes | 3.50% |
| Ust Notes | 2.50% |
| Ust Notes | 2.11% |
| Ust Notes | 1.92% |
| United States Treasury Bond | 1.92% |
| United States Treasury Bond | 1.77% |
| Ust Notes | 1.69% |
| Ust Notes | 1.57% |
| Ust Notes | 1.44% |
C000236280 Portfolio Allocation
Asset-class allocation of VIP Investment Grade Bond II Portfolio by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Fixed Income | 71.0% |
| Securitized | 31.4% |
| Equity | 0.5% |
| Cash & Equivalents | 0.4% |
C000236280 Performance
Total returns for C000236280 (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| YTD | 0.7% |
| 1 year | 3.6% |
| 3 years (annualised) | 4.2% |
C000236280 Risk Information
Risk metrics for C000236280, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 3.2%
C000236280 Costs and Fees
C000236280 costs about $38 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.38%
- Gross expense ratio: 0.38%
- Portfolio turnover: 182%
- Brokerage commissions: 0.05 bps of average net assets (SEC N-CEN)
C000236280 Cashflows
Over the 12 months to 2026-06, VIP Investment Grade Bond II Portfolio had net inflows of $424.21M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-06 | $46.33M |
| 2026-05 | $106.49M |
| 2026-04 | −$85.60M |
| 2026-03 | −$23.65M |
| 2026-02 | $46.64M |
| 2026-01 | −$14.43M |
C000236280 Debt Constituents
Largest debt holdings of VIP Investment Grade Bond II Portfolio by percentage of net assets, from the latest SEC N-PORT filing.
| Debt holding | % of net assets |
|---|---|
| Ust Notes | 4.04% |
| Ust Notes | 3.50% |
| Ust Notes | 2.50% |
| Ust Notes | 2.11% |
| Ust Notes | 1.92% |
| United States Treasury Bond | 1.92% |
| United States Treasury Bond | 1.77% |
| Ust Notes | 1.69% |
| Ust Notes | 1.57% |
| Ust Notes | 1.44% |
C000236280 Prospectus and SEC Filings
Official VIP Investment Grade Bond II 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 Long 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.