LVIP Fidelity Institutional AM(R) Total Bond Fund
Actively managed U.S. bond fund
As of its 2026 Q2 report, LVIP Fidelity Institutional AM(R) Total Bond Fund held 2,386 positions with $2.15B in net assets. Its ten largest holdings made up 30.0% of the fund. Its share classes cost 0.51%–0.81% a year. Over the 12 months to May 2026, it returned 5.3%, with dividends reinvested. In 2026 Q2 it added 407 new positions and exited 242.
The investment objective of the LVIP Fidelity Institutional AM Total Bond Fund (the Fund) is to seek maximum long term total return, consistent with reasonable risk.
The fund is managed day-to-day by FIAM LLC, which structures the portfolio using the Bloomberg U.S. Aggregate Bond Index as a guide and allocates across investment-grade, high-yield, and emerging-markets debt securities. The Sub-Adviser selects securities by analyzing credit quality, valuation, and security-specific features, and uses derivatives and forward-settling securities to adjust interest-rate risk exposure to align with the index. Because the fund's selections depend on the Sub-Adviser's analysis rather than mechanical index replication, performance may diverge from the index.
What you own
| Company | Weight | Value | Shares |
|---|---|---|---|
United States Treasury 4.00% · due 2032-04-30 | 6.05% | $130.18M | — |
United States Treasury 4.63% · due 2055-02-15 | 4.51% | $97.10M | — |
United States Treasury 4.63% · due 2035-02-15 | 4.20% | $90.28M | — |
United States Treasury 4.13% · due 2036-02-15 | 3.67% | $78.90M | — |
United States Treasury 4.75% · due 2045-02-15 | 3.39% | $72.94M | — |
GVMXXState Street Global Advisors | 2.75% | $59.11M | — |
United States Treasury 3.88% · due 2032-12-31 | 1.72% | $36.91M | — |
United States Treasury 4.63% · due 2044-11-15 | 1.42% | $30.43M | — |
United States Treasury 3.88% · due 2043-02-15 | 1.18% | $25.44M | — |
United States Treasury 2.25% · due 2046-08-15 | 1.14% | $24.48M | — |
The 200 largest of 2,386 holdings, with the share counts as filed, open with a free account.
What the fund is made of
Percentages are of fund net assets. Rounding, liabilities and short positions can make totals differ from 100%.
| Bonds | 63.67% |
| Securitized | 31.12% |
| Loans | 5.79% |
| Cash & short-term | 2.77% |
| 2 smaller | 0.22% |
Derivatives are shown at market value, not notional exposure.
By sector
- Government
- 35.5%
- Securitized
- 30.4%
- Other
- 12.7%
- Financials
- 5.9%
- 12 other sectors
- 15.5%
- Government
- 35.5%
- Securitized
- 30.4%
- Other
- 12.7%
- Financials
- 5.9%
- International
- 5.7%
- Cash
- 2.7%
- Utilities
- 1.5%
- Communication Services
- 0.9%
- Information Technology
- 0.9%
- Health Care
- 0.8%
- Energy
- 0.8%
- Industrials
- 0.8%
- Real Estate
- 0.6%
- Consumer Staples
- 0.3%
- Consumer Discretionary
- 0.3%
- Materials
- 0.1%
How it has done
C000223150 share class · total returns with dividends reinvested
Volatility over the last 12 months: 3.37%. Past returns are a record, not a forecast.
Jun 2026 has been filed since the trailing figures were struck, so it is 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.
Fees & fund details
LVIP Fidelity Institutional AM(R) 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
- Expense ratio, by class
- 0.51% – 0.81%
- Portfolio turnover
- 102.00% a year · as of 2025 Q2
Net is what a holder pays after the adviser's contractual waiver; gross is before it. A waiver can expire.
Turnover is how much of the portfolio was replaced in a year.
Classified from what the fund holds, not from its name · 2026 Q2. The summary is a paraphrase of the prospectus; the objective is verbatim.
What changed this quarter
Positions that entered or left the fund since its previous filing. Positions that were only resized are not listed.
407 new· the largest 3
242 exited· the largest 4
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 | 82.1% |
| Floating rate | 17.6% |
| Zero-coupon or unclassified | 0.3% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 0.5% |
| 1-3y | 6.1% |
| 3-5y | 14.9% |
| 5-10y | 32.1% |
| 10y+ | 46.3% |
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 a small fraction 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 | 76% |
| Credit spreads | 24% |
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 | +1.36 yr |
| High yield | +0.54 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 | 0.01 yr | 0% |
| 1 yr | 0.45 yr | 7% |
| 5 yr | 1.88 yr | 31% |
| 10 yr | 2.42 yr | 40% |
| 30 yr | 1.26 yr | 21% |
| 3 mo | 0.01 yr | 1% |
| 1 yr | 0.32 yr | 17% |
| 5 yr | 1.03 yr | 54% |
| 10 yr | 0.44 yr | 23% |
| 30 yr | 0.09 yr | 5% |
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 | +0.01 | +0.01 | +0.00 | $1.5k | $1.0k |
| 1 yr | +0.45 | +0.21 | +0.12 | $44.2k | $25.0k |
| 5 yr | +1.88 | +0.70 | +0.34 | $149.5k | $72.1k |
| 10 yr | +2.42 | +0.37 | +0.07 | $79.1k | $15.5k |
| 30 yr | +1.26 | +0.09 | +0.01 | $18.7k | $1.5k |
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 6.02 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.
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