XML 103 R71.htm IDEA: XBRL DOCUMENT v3.22.1
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName Variable Insurance Products Fund V
02.28 VIP FundsManager Funds Service, Service 2 Combo PRO-13 | FundsManager 50% Portfolio  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading Fund Summary Fund/Class:VIP FundsManager® 50% Portfolio/Service Class, Service Class 2
Objective [Heading] rr_ObjectiveHeading Investment Objective
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock The fund seeks high total return.
Expense [Heading] rr_ExpenseHeading Fee Table
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock The following table describes the fees and expenses that may be incurred, directly or indirectly, when you, as a variable product owner, buy and hold interests in a separate account that invests in shares of the fund. The table does not include any fees or other expenses of any variable annuity or variable life insurance product; if it did, overall fees and expenses would be higher.
Shareholder Fees Caption [Text] rr_ShareholderFeesCaption Fees
(fees paid directly from your investment) rr_ShareholderFeeOther
Operating Expenses Caption [Text] rr_OperatingExpensesCaption Annual Operating Expenses (expenses that you pay each year as a % of the value of your investment)
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination April 30, 2024. In addition, FMR has contractually agreed to reimburse 0.10% of class-level expenses for Service Class and Service Class 2. This arrangement will remain in effect for at least one year from the effective date of the prospectus, and will remain in effect thereafter as long as Service Class and Service Class 2 continue to be sold to unaffiliated insurance companies
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading Portfolio Turnover
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock The fund will not incur transaction costs, such as commissions, when it buys and sells shares of underlying Fidelity® funds (or "turns over" its portfolio), but it could incur transaction costs if it were to buy and sell other types of securities directly. If the fund were to buy and sell other types of securities directly, a higher portfolio turnover rate could indicate higher transaction costs. Such costs, if incurred, would not be reflected in annual operating expenses or in the example and would affect the fund's performance. During the most recent fiscal year, the fund's portfolio turnover rate was 51% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 51.00%
Acquired Fund Fees and Expenses, Based on Estimates [Text] rr_AcquiredFundFeesAndExpensesBasedOnEstimates Acquired fund fees and expenses based on estimated amounts for the current fiscal year.
Expenses Restated to Reflect Current [Text] rr_ExpensesRestatedToReflectCurrent Adjusted to reflect current fees.
Expenses Not Correlated to Ratio Due to Acquired Fund Fees [Text] rr_ExpensesNotCorrelatedToRatioDueToAcquiredFundFees Differs from the ratios of expenses to average net assets in the Financial Highlights section of the prospectus because of acquired fund fees and expenses.
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock This example helps compare the cost of investing in the fund with the cost of investing in other funds. Let's say, hypothetically, that the annual return for shares of the fund is 5% and that the fees and the annual operating expenses for shares of the fund are exactly as described in the fee table. This example illustrates the effect of fees and expenses, but is not meant to suggest actual or expected fees and expenses or returns, all of which may vary. This example does not include any fees or other expenses of any variable annuity or variable life insurance product; if it did, overall expenses would be higher. For every $10,000 invested, here's how much you, as a variable product owner, would pay in total expenses if all interests in a separate account that invests in shares of the fund were redeemed at the end of each time period indicated:
Strategy [Heading] rr_StrategyHeading Principal Investment Strategies
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock Normally investing in a combination of underlying Fidelity® retail and Variable Insurance Products (VIP) funds (underlying Fidelity® funds). A revised asset allocation strategy is expected to take effect by the end of the third quarter of 2022. In May 2022, Fidelity Management & Research Company LLC (FMR) (the Adviser) will begin transitioning assets of the fund to achieve a target asset allocation among underlying Fidelity® funds of approximately:     Domestic Equity Funds 30%     International Equity Funds 20%     Fixed-Income Funds 40%     Money Market Funds 10% Actively managing underlying Fidelity® fund holdings to achieve portfolio characteristics similar to the Fidelity VIP FundsManager 50% Composite Index℠, which is a hypothetical representation of the performance of the asset classes in which the underlying Fidelity® funds invest, based on combinations of the following unmanaged indexes: Dow Jones U.S. Total Stock Market Index℠ (equities); MSCI ACWI ex USA Index (international equities); Bloomberg U.S. Aggregate Bond Index (bonds); and Bloomberg U.S. 3 Month Treasury Bellwether Index (short-term investments). Using proprietary fundamental and quantitative fund research, considering factors including fund performance, a fund manager's experience and investment style, and fund characteristics such as expense ratio, asset size, and portfolio turnover to select underlying funds.
Risk [Heading] rr_RiskHeading Principal Investment Risks
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock Investing in Other Funds. The fund bears all risks of investment strategies employed by the underlying funds, including the risk that the underlying funds will not meet their investment objectives. Stock Market Volatility. Stock markets are volatile and can decline significantly in response to adverse issuer, political, regulatory, market, or economic developments. Different parts of the market, including different market sectors, and different types of securities can react differently to these developments. Interest Rate Changes. Interest rate increases can cause the price of a debt or money market security to decrease. Foreign Exposure. Foreign markets, particularly emerging markets, can be more volatile than the U.S. market due to increased risks of adverse issuer, political, regulatory, market, or economic developments and can perform differently from the U.S. market. The extent of economic development; political stability; market depth, infrastructure, and capitalization; and regulatory oversight can be less than in more developed markets. Emerging markets typically have less established legal, accounting and financial reporting systems than those in more developed markets, which may reduce the scope or quality of financial information available to investors. Emerging markets can be subject to greater social, economic, regulatory, and political uncertainties and can be extremely volatile. Foreign exchange rates also can be extremely volatile. Geographic Exposure. Social, political, and economic conditions and changes in regulatory, tax, or economic policy in a country or region could significantly affect the market in that country or region. Industry Exposure. Market conditions, interest rates, and economic, regulatory, or financial developments could significantly affect a single industry or group of related industries. Prepayment. The ability of an issuer of a debt security to repay principal prior to a security's maturity can cause greater price volatility if interest rates change. Issuer-Specific Changes. The value of an individual security or particular type of security can be more volatile than, and can perform differently from, the market as a whole. A decline in the credit quality of an issuer or a provider of credit support or a maturity-shortening structure for a security can cause the price of a security to decrease. Lower-quality debt securities (those of less than investment-grade quality, also referred to as high yield debt securities or junk bonds) and certain types of other securities involve greater risk of default or price changes due to changes in the credit quality of the issuer. The value of lower-quality debt securities and certain types of other securities can be more volatile due to increased sensitivity to adverse issuer, political, regulatory, market, or economic developments and can be difficult to resell. Leverage Risk. Leverage can increase market exposure, magnify investment risks, and cause losses to be realized more quickly. Commodity-Linked Investing. The value of commodities and commodity-linked investments may be affected by the performance of the overall commodities markets as well as weather, political, tax, and other regulatory and market developments. Commodity-linked investments may be more volatile and less liquid than the underlying commodity, instruments, or measures. Commodity Futures. Investments in commodity futures contracts are also subject to the risk of the failure of any of the exchanges on which an underlying fund's positions trade or of its clearinghouses or counterparties. In addition, certain commodity exchanges limit fluctuations in certain futures contract prices during a single day by regulations referred to as "daily price fluctuation limits" or "daily limits." Under such daily limits, during a single trading day no trades may be executed at prices beyond the daily limit. If triggered, these limits could prevent the underlying fund from liquidating unfavorable positions and subject the underlying fund to losses or prevent it from entering into desired trades during the particular trading day. You could lose money by investing in the fund.
Risk Lose Money [Text] rr_RiskLoseMoney You could lose money by investing in the fund.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading Performance
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock The following information is intended to help you understand the risks of investing in the fund. The information illustrates the changes in the performance of the fund's shares from year to year and compares the performance of the fund's shares to the performance of a securities market index and a hypothetical composite of market indexes over various periods of time. The indexes have characteristics relevant to the fund's investment strategies. Index descriptions appear in the "Additional Index Information" section of the prospectus. Returns for shares of the fund do not include the effect of any sales charges or other expenses of any variable annuity or variable life insurance product; if they did, returns for shares of the fund would be lower. Past performance is not an indication of future performance.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The information illustrates the changes in the performance of the fund's shares from year to year and compares the performance of the fund's shares to the performance of a securities market index and a hypothetical composite of market indexes over various periods of time.
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture Past performance is not an indication of future performance.
Bar Chart [Heading] rr_BarChartHeading Year-by-Year Returns
Bar Chart Does Not Reflect Sales Loads [Text] rr_BarChartDoesNotReflectSalesLoads Returns for shares of the fund do not include the effect of any sales charges or other expenses of any variable annuity or variable life insurance product; if they did, returns for shares of the fund would be lower.
Performance Table Heading rr_PerformanceTableHeading Average Annual Returns
02.28 VIP FundsManager Funds Service, Service 2 Combo PRO-13 | FundsManager 50% Portfolio | VIP FundsManager 50% Portfolio-Service VIP  
Risk/Return: rr_RiskReturnAbstract  
Management fee rr_ManagementFeesOverAssets 0.15% [1]
Distribution and/or Service (12b-1) fees rr_DistributionAndService12b1FeesOverAssets 0.10%
Other expenses rr_OtherExpensesOverAssets none
Acquired fund fees and expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.60% [2]
Total annual operating expenses rr_ExpensesOverAssets 0.85% [3]
Fee waiver and/or expense reimbursement rr_FeeWaiverOrReimbursementOverAssets 0.15% [4]
Total annual operating expenses after fee waiver and/or expense reimbursement rr_NetExpensesOverAssets 0.70% [3]
1 year rr_ExpenseExampleYear01 $ 72
3 years rr_ExpenseExampleYear03 242
5 years rr_ExpenseExampleYear05 442
10 years rr_ExpenseExampleYear10 $ 1,022
2012 rr_AnnualReturn2012 10.24%
2013 rr_AnnualReturn2013 14.79%
2014 rr_AnnualReturn2014 5.18%
2015 rr_AnnualReturn2015 0.06%
2016 rr_AnnualReturn2016 4.31%
2017 rr_AnnualReturn2017 14.45%
2018 rr_AnnualReturn2018 (5.28%)
2019 rr_AnnualReturn2019 17.89%
2020 rr_AnnualReturn2020 14.06%
2021 rr_AnnualReturn2021 10.01%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel Highest Quarter Return
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Jun. 30, 2020
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 12.66%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel Lowest Quarter Return
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Mar. 31, 2020
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (10.56%)
02.28 VIP FundsManager Funds Service, Service 2 Combo PRO-13 | FundsManager 50% Portfolio | VIP FundsManager 50% Portfolio-Service 2 VIP  
Risk/Return: rr_RiskReturnAbstract  
Management fee rr_ManagementFeesOverAssets 0.15% [1]
Distribution and/or Service (12b-1) fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Other expenses rr_OtherExpensesOverAssets none
Acquired fund fees and expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.60% [2]
Total annual operating expenses rr_ExpensesOverAssets 1.00% [3]
Fee waiver and/or expense reimbursement rr_FeeWaiverOrReimbursementOverAssets 0.15% [4]
Total annual operating expenses after fee waiver and/or expense reimbursement rr_NetExpensesOverAssets 0.85% [3]
1 year rr_ExpenseExampleYear01 $ 87
3 years rr_ExpenseExampleYear03 289
5 years rr_ExpenseExampleYear05 524
10 years rr_ExpenseExampleYear10 $ 1,198
02.28 VIP FundsManager Funds Service, Service 2 Combo PRO-13 | FundsManager 50% Portfolio | Return Before Taxes | VIP FundsManager 50% Portfolio-Service VIP  
Risk/Return: rr_RiskReturnAbstract  
Label rr_AverageAnnualReturnLabel Service Class
Past 1 year rr_AverageAnnualReturnYear01 10.01%
Past 5 years rr_AverageAnnualReturnYear05 9.91%
Past 10 years rr_AverageAnnualReturnYear10 8.34%
02.28 VIP FundsManager Funds Service, Service 2 Combo PRO-13 | FundsManager 50% Portfolio | Return Before Taxes | VIP FundsManager 50% Portfolio-Service 2 VIP  
Risk/Return: rr_RiskReturnAbstract  
Label rr_AverageAnnualReturnLabel Service Class 2
Past 1 year rr_AverageAnnualReturnYear01 9.88%
Past 5 years rr_AverageAnnualReturnYear05 9.75%
Past 10 years rr_AverageAnnualReturnYear10 8.18%
02.28 VIP FundsManager Funds Service, Service 2 Combo PRO-13 | FundsManager 50% Portfolio | SP001  
Risk/Return: rr_RiskReturnAbstract  
Label rr_AverageAnnualReturnLabel S&P 500® Index
Past 1 year rr_AverageAnnualReturnYear01 28.71%
Past 5 years rr_AverageAnnualReturnYear05 18.47%
Past 10 years rr_AverageAnnualReturnYear10 16.55%
02.28 VIP FundsManager Funds Service, Service 2 Combo PRO-13 | FundsManager 50% Portfolio | F0901  
Risk/Return: rr_RiskReturnAbstract  
Label rr_AverageAnnualReturnLabel Fidelity VIP FundsManager 50% Composite Index℠
Past 1 year rr_AverageAnnualReturnYear01 9.63%
Past 5 years rr_AverageAnnualReturnYear05 9.45%
Past 10 years rr_AverageAnnualReturnYear10 8.26%
[1]

(a)Adjusted to reflect current fees.

[2]

(b)Acquired fund fees and expenses based on estimated amounts for the current fiscal year.

[3]

(c)Differs from the ratios of expenses to average net assets in the Financial Highlights section of the prospectus because of acquired fund fees and expenses.

[4]

(d)Fidelity Management & Research Company LLC (FMR) has contractually agreed to waive 0.05% of the fund's management fee. This arrangement will remain in effect through April 30, 2024. In addition, FMR has contractually agreed to reimburse 0.10% of class-level expenses for Service Class and Service Class 2. This arrangement will remain in effect for at least one year from the effective date of the prospectus, and will remain in effect thereafter as long as Service Class and Service Class 2 continue to be sold to unaffiliated insurance companies. If Service Class and Service Class 2 are no longer sold to unaffiliated insurance companies, FMR, in its sole discretion, may discontinue the arrangement.