Fidelity® VIP Growth Portfolio - Initial Class

Fidelity? VIP Growth Portfolio - Initial Class

Release Date

..............................................................................................................................................................................................................................................................................................0.6..-.3..0..-.2.4..................................

Category

Large Growth

Investment Objective & Strategy

The investment seeks to achieve capital appreciation. The fund primarily invests in common stocks. It invests

in companies that the adviser believes have above-average growth potential (stocks of these companies are often called "growth" stocks). The fund invests in domestic and foreign issuers. It uses fundamental analysis of factors such as each issuer's financial condition and industry position, as well as market and economic conditions, to select investments.

Volatility and Risk

Volatility as of 06-30-24

Low

Moderate

Investment High

Category

Risk Measures as of 06-30-24

3 Yr Std Dev

3 Yr Beta

Port Avg Rel S&P 500

19.86

1.11

1.06

.

Rel Cat

0.92

0.95

Principal Risks Foreign Securities, Loss of Money, Not FDIC Insured, Growth Investing, Nondiversification, Issuer, Market/Market Volatility, Equity Securities

Important Information Please refer to the Morningstar Disclosure and Glossary document contained in your plan's eligibility package for additional information. You may always access the most current version of the Disclosure and Glossary at fundonepagerscolor/DisclosureGlossary.pdf

Funds or their affiliates may pay compensation to Voya? affiliates offering a fund. Such compensation may be paid out of distribution, service and/or 12b-1 fees that are deducted from the fund's assets, and/or may be paid directly by the fund's affiliates. Any fees deducted from fund assets are discussed in the fund's prospectus and disclosed in the fund fact sheet. Because these fees are paid on an on-going basis, over time these fees will increase the cost of your investment and may cost you more than paying other types of sales charges. If offered through a retirement program, additional fees and expenses may be charged under that program. NOT A DEPOSIT. NOT FDIC INSURED. NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY. NOT GUARANTEED BY THE INSTITUTION. MAY GO DOWN IN VALUE.

Portfolio Analysis

Composition as of 05-31-24

U.S. Stocks Non-U.S. Stocks Bonds Cash Other

% Assets

85.5 13.6 0.0 0.6 0.2

Morningstar Style BoxTM as of 05-31-24

% Mkt Cap

Large Mid Small

G...i.a..n..t.........................................5..2.....8..6.

Large

24.23

Medium

14.33

S...m...a..l.l..........................................7.....4..3.

Value Blend Growth

Micro

1.14

Top 10 Holdings as of 05-31-24

% Assets

Microsoft Corp

12.62

NVIDIA Corp

10.29

Apple Inc

5.12

Alphabet Inc Class A

4.97

A...m...a.z..o..n...c..o..m....In..c..............................................................4....7.4.

Uber Technologies Inc

3.77

Eli Lilly and Co

2.69

Boston Scientific Corp

2.57

Taiwan Semiconductor Manufacturing Co Ltd ADR

2.08

Netflix Inc

2.07

Morningstar Equity Sectors as of 05-31-24

% Fund

h ........C..y..c..l.i.c.a..l.............................................................................1..4....6..1.

r Basic Materials

0.00

t Consumer Cyclical

9.01

y Financial Services

5.60

u Real Estate

0.00

j ........S..e..n..s..i.t.i.v..e...........................................................................6..9....3..4.

i Communication Services

11.27

o Energy

2.47

p Industrials

8.93

a Technology

46.67

k ........D..e..f.e..n...s.i.v..e..........................................................................1..6....0..4.

s Consumer Defensive

0.70

d Healthcare

14.63

f Utilities

0.71

Operations Gross Prosp Exp Ratio Net Prosp Exp Ratio Management Fee 12b-1 Fee Other Fee Miscellaneous Fee(s) Fund Inception Date Total Fund Assets ($mil) Annual Turnover Ratio %

Fund Family Name

0.58% of fund assets 0.58% of fund assets 0.57%

. 0.00% 0.01% 10-09-86 10,658.2 48.00 Fidelity Investments

Waiver Data

Type

.

.

Exp. Date

%

.

.

Portfolio Manager(s)

Jason Weiner, CFA. Since 2006.

Asher Anolic. Since 2017.

................................................................................................

Advisor

Fidelity Management & Research

Company LLC

Subadvisor

FMR Investment Management

(U.K.) Limited

Notes The management fee covers administrative services previously provided under separate services agreements with the fund, for which 0.08% for Initial Class was previously charged under the services agreements. Adjusted to reflect current fees.

?2024 Morningstar, Inc., Morningstar Investment ProfilesTM 312-696-6000. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed 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 information. Past performance is no guarantee of future performance. Visit our investment website at .

?

13.109-224 (07/24) CN3265965_1225

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