CTIVP - Fidelity Institutional AM Total Bond Fund
Columbia Funds Variable Series Trust II
Fund classification
Classified from what the fund holds · as of 2026 Q2
CTIVP - Fidelity Institutional AM Total Bond Fund is an actively managed U.S. bond fund.
- Asset class
- Bonds
- Region
- United States
- Management
- Actively managed
- Fund type
- Open-end fund
- Credit quality
- Mixed credit
- Rate sensitivity
- Intermediate duration
Fund profile
As filed in the prospectus · 2026 Q2
CTIVP Fidelity Institutional AM Total Bond Fund (the Fund) seeks to provide shareholders with a high level of current income.
The fund is managed by subadvisers who use the Bloomberg U.S. Aggregate Bond Index as a guide and structure the portfolio to maintain similar overall interest rate risk to that index. The fund invests at least 80% of assets in bonds and debt securities, with up to 20% permitted in below-investment-grade debt and up to 25% in foreign-issuer debt. Because the fund's interest rate risk is managed relative to the index rather than replicated precisely, performance may diverge from the index. The fund may employ derivatives and leverage to adjust risk exposure.
| Share class | Expense ratio |
|---|---|
| C000087786 | 0.49% |
| C000087787 | 0.74% |
Portfolio turnover 238.00% · as of 2026 Q2
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| Bonds | 66.38% |
| Securitized | 27.31% |
| Cash & short-term | 7.21% |
| Loans | 5.33% |
| 2 smaller | 0.17% |
These positions come to 106.41% of the fund's net assets. This counts only what the fund reported holding — the holdings disclosure covers assets, not liabilities such as borrowings — so it is not expected to reconcile to 100%.
Derivatives are shown at market value, not notional exposure.
Sector allocation
The same holdings as Allocation above, grouped by market sector instead of asset type · as of 2026 Q2
| Government | 40.0% |
| Securitized | 26.4% |
| Other | 10.5% |
| Cash | 6.7% |
| 12 smaller | 16.4% |
Government, Securitized and Cash are non-corporate buckets; International is foreign holdings we don’t sector-classify, and Other is the residual (held funds, unresolved names).
Latest quarter
What changed since the fund's previous filing
Largest new: United States Treasury ×6, Government National Mortgage Association, UMBS, TBA
Largest exited: United States Treasury ×2, UMBS, TBA, Government National Mortgage Association, Fannie Mae ×2, FEDERAL NATIONAL MORTGAGE ASSOCIATION, FEDERAL HOME LOAN MORTGAGE CORPORATION
Return profile
Total return as filed — price change plus distributions reinvested · trailing figures to Apr 2026
May 2026 and Jun 2026 have been filed since the trailing figures were struck, so they are not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
This fund changed legal form during the period shown. The history above is continuous — it spans both eras, and the change is not a gap in reporting.
Debt profile
What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-06-30
Share of the fund's debt by how its coupon behaves — the fact that decides whether a rate move reaches this portfolio at all.
| Fixed rate | 85.7% |
| Floating rate | 14.1% |
| Zero-coupon or unclassified | 0.2% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 0.4% |
| 1-3y | 3.7% |
| 3-5y | 18.1% |
| 5-10y | 36.4% |
| 10y+ | 41.5% |
These three overlap — one holding can be in arrears and paying in kind at once — so they are shown separately and never summed.
Risk profile
Interest-rate and credit-spread sensitivity, both in years · as of 2026Q2
Most of this fund’s sensitivity is to interest rates, with credit spreads carrying about half as much.
Where the loss would come from. The two shocks are the same size, so this is the balance of the fund's two sensitivities rather than a bet on one moving more.
| Interest rates | 70% |
| Credit spreads | 30% |
Filers report the impact of a 0.01% move only, so the total is our own scaling of that one number and overstates the loss on most bonds — read it as approximate, never as precise. The two sensitivities overlap rather than add up: they measure the same positions against different shocks, which is why the durations above are shown side by side and never summed.
Share of the fund's spread duration carried by each credit tier.
| Investment grade | +2.15 yr |
| High yield | +0.44 yr |
Share of duration at each point, shortest first. A positive figure loses value when spreads widen; a negative one offsets — a credit hedge.
| 3 mo | 0.04 yr | 1% |
| 1 yr | 0.39 yr | 7% |
| 5 yr | 1.87 yr | 32% |
| 10 yr | 2.32 yr | 39% |
| 30 yr | 1.30 yr | 22% |
| 3 mo | 0.17 yr | 7% |
| 5 yr | 0.75 yr | 29% |
| 10 yr | 0.86 yr | 33% |
| 30 yr | 0.84 yr | 32% |
1 yr is NEGATIVE (-0.04 yr) — a deliberate hedge at that point on the curve, so it is not part of the band above.
The two bands measure the same positions against different shocks and do not add — a Treasury carries rate duration and no spread duration, a floating-rate credit the reverse. Rate tenors are also summed across every currency the fund discloses.
Show the numbers
| Tenor | Rate yrs | IG yrs | HY yrs | IG $/bp | HY $/bp |
|---|---|---|---|---|---|
| 3 mo | +0.04 | +0.17 | +0.00 | $57.3k | $17 |
| 1 yr | +0.39 | +0.02 | -0.06 | $5.5k | -$19.0k |
| 5 yr | +1.87 | +0.50 | +0.26 | $167.6k | $85.6k |
| 10 yr | +2.32 | +0.70 | +0.15 | $236.1k | $51.1k |
| 30 yr | +1.30 | +0.76 | +0.09 | $255.0k | $28.6k |
Dollar change per 1bp of spread movement, as filed and sign-anchored. A blank cell was not filed; a zero was.
Duration contribution in years, summing to the fund's 5.91 yr.
This is where the fund's rate exposure sits, not its currency risk — most international bond funds hedge the currency back to dollars, and the size of those hedges is not in the filing. Tenors are also summed across curves, so a 5-year JPY point and a 5-year USD point are added together.
Holdings
By % of NAV · equity positions carry filed share counts · every resolvable issuer links to its company page
| Ticker | Issuer | %NAV | Value | Shares |
|---|---|---|---|---|
| — | United States Treasury4.13% · due 2036-02-15 | 10.41% | $349.30M | — |
| — | United States Treasury4.75% · due 2056-02-15 | 9.41% | $315.71M | — |
| — | United States Treasury3.88% · due 2031-04-30 | 7.55% | $253.42M | — |
| — | COLUMBIA SHORT TERM CASH FUND | 7.09% | $238.03M | — |
| — | United States Treasury4.25% · due 2033-03-31 | 6.91% | $232.01M | — |
| — | United States Treasury4.63% · due 2046-02-15 | 3.33% | $111.73M | — |
| — | United States Treasury4.13% · due 2033-04-30 | 1.42% | $47.64M | — |
| — | United States Treasury3.50% · due 2030-11-30 | 1.10% | $36.93M | — |
| — | United States Treasury3.88% · due 2028-06-15 | 0.92% | $30.83M | — |
| — | Government National Mortgage Association5.50% · due 2056-07-20 | 0.82% | $27.41M | — |
Top 10 positions are 48.95% of net assets, top 25 57.98%, across 1.1K issuers.
See more of this fund's book
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