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Managed Fund Since 2024
Fixed Income
Putnam VT Income Fund
Popular Documents
Total Net Assets
$122.89M
As of 09/30/2026 (Updated Monthly)
Overview
Fund Facts
Fund description
The fund seeks high current income consistent with what the portfolio managers believe to be prudent risk by investing across all sectors of the U.S. bond market, including mortgage-backed securities, corporate bonds, and other government obligations.
- Benchmark
- Bloomberg U.S. Aggregate Index
- Fund Inception Date
- 02/01/1988
- Share Class Inception Date
- 02/01/1988
Sales Charges, Expenses & Fees
As of 05/01/2026- Gross Expense Ratio
- 0.57%
- Net Expense Ratio
2 - 0.57%
- 12b-1 Fee
- N/A
Identifiers
- Ticker
- —
- Fund Number
- 5405
- CUSIP Code
- 746896406
- Bloomberg Code
- VPINIAV US
Top Sectors
As of 09/30/2026 - Notional Exposure % of Total (Updated Monthly)
Interest Rate Derivatives36.30% | |
Investment Grade Corporates35.47% | |
Mortgage-Backed Securities24.34% | |
Residential Mortgage-Backed Securities9.32% | |
Collateralized Loan Obligation7.30% |
Additional Fund Info
- Asset Class
- Fixed Income
- Morningstar Category
3 - Intermediate Core-Plus Bond
- Lipper Classification
- Core Bond Funds
- Investment Style
- Multi-Sector
Manager and Commentary
About the Team
Franklin Templeton Fixed Income
A global leader in fixed income, the team strives to provide consistent and resilient returns by combining deep fundamental research with rigorous portfolio construction. This solutions-driven approach means maintaining portfolio and risk exposures that align with client expectations.
Franklin Templeton Fixed Income
![[Patrick A. Kleins avatar]](https://franklintempletonprod.widen.net/content/rwvxaop09d/webp/Klein_Patrick_500x500.png){kind=avatar}
Managed Fund Since 2024
![[Michael V Salms avatar]](https://franklintempletonprod.widen.net/content/gdksujp88u/webp/Salm_Michael_500x500.png){kind=avatar}
Managed Fund Since 2007
![[Tina Chous avatar]](https://franklintempletonprod.widen.net/content/r74nj10zyg/webp/Chou_Tina_500x500.png){kind=avatar}
Managed Fund Since 2024
![[Matthew J Walkups avatar]](https://franklintempletonprod.widen.net/content/x5gq7ikjxw/webp/Walkup_Matthew_500x500.png){kind=avatar}
Managed Fund Since 2024
Latest Insights
October 14, 2026
October 9, 2026
October 6, 2026
October 5, 2026
Portfolio
Assets
As of09/30/2026 (Updated Monthly)
- Total Net Assets
- $122.89 Million
Positions
As of 09/30/2026 (Updated Monthly)
Number of Holdings
- Fund
- 990
Portfolio Statistics
As of 09/30/2026 (Updated Monthly)
Effective Duration
- Fund
- 6.08 Years
- Fund
- 6.20 Years
Geographic Allocation
As of 09/30/2026 - Market Value % of Total (Updated Monthly)
| Geography | Fund | Benchmark |
|---|---|---|
United States | 97.12% | 92.99% |
Canada | 2.26% | 1.12% |
United Kingdom | 1.98% | 1.11% |
Australia | 0.66% | 0.22% |
Ireland | 0.57% | 0.12% |
Italy | 0.49% | 0.02% |
Israel | 0.45% | 0.12% |
Mexico | 0.37% | 0.35% |
Spain | 0.33% | 0.15% |
Colombia | 0.29% | — |
South Africa | 0.27% | 0.00% |
Jersey Islands | 0.27% | — |
Indonesia | 0.27% | 0.11% |
Poland | 0.24% | 0.09% |
Brazil | 0.22% | 0.10% |
Germany | 0.20% | 0.33% |
Supranational | 0.18% | 1.34% |
Romania | 0.18% | — |
Chile | 0.18% | 0.08% |
Guatemala | 0.17% | — |
Philippines | 0.16% | 0.13% |
Turkiye | 0.16% | — |
Ivory Coast | 0.16% | — |
Dominican Republic | 0.14% | — |
Uruguay | 0.13% | 0.05% |
Peru | 0.09% | 0.07% |
North Macedonia | 0.09% | — |
Hungary | 0.09% | 0.01% |
Benin | 0.09% | — |
Bulgaria | 0.08% | — |
El Salvador | 0.06% | — |
Japan | 0.06% | 0.56% |
Norway | 0.06% | 0.04% |
Switzerland | 0.05% | 0.13% |
Morocco | 0.03% | — |
FX Forwards | 0.03% | — |
Paraguay | 0.02% | — |
Euro Community | 0.01% | — |
France | -0.03% | 0.08% |
Cash | -8.18% | — |
Holdings
As of 08/31/2026 (Updated Monthly)
PUTNAM SHORT TERM INVESTMENT FUND STIF USD NPV CLASS P TIS A/C # 39210
FEDERAL HOME LOAN MORTGAGE CORP 2% 09/01/2056 FHLM
FEDERAL HOME LOAN MORTGAGE CORP 2.5% 09/01/2056 FHLM
GOVT NATL MORTG ASSN 5% 09/01/2056 GNMA
Fannie Mae Or Freddie Mac 5.5% 09/01/2056 FHLM
Fannie Mae Or Freddie Mac 6% 09/01/2056 FHLM
Freddie Mac STACR REMIC Trust 2022-HQA1 FRN 03/25/2042 144A 2022-HQA1 M2
GOVT NATL MORTG ASSN 5.5% 04/20/2054 GNMA
Fannie Mae Or Freddie Mac 4% 09/01/2056 FHLM
Fannie Mae Pool 3.5% 06/01/2056 FNMA
Portfolio holdings are based on the total portfolio and are subject to change at any time. Holdings are provided for informational purposes only and should not be construed as a recommendation to purchase or sell any security.
Distributions & Tax
- Distribution Frequency
- AnnuallyThis fund is an ex-Dividend fund
- Capital Gain Distributions
- March
Final composition of the current year’s distribution—income, capital gains and/or return of capital—are based on US tax rules and will be determined by February of the following year. For tax characterization of a distribution, such as return of capital and tax-exempt income, click on the “Tax Information” tab above.
Distributions Per Share
03/30/2026
Annually, a fund must distribute all realized capital gains net of realized losses, so the fund will not be subject to an entity level income tax. A fund’s capital gain distribution in a particular year may be a result of the disposition of holdings that appreciated in value during prior years. Thus, while the fund may gain or lose value over the course of a year, a capital gain distribution paid by the fund may not be indicative of current performance of the fund.
The distributable amount of net capital gains are paid on a per-share basis to all investors who hold shares of the fund on the record date of the distribution and are recognized by the shareholder for tax purposes as of the ex-date of the distribution, regardless of when the gains or losses arose in the fund. Net gains on holdings held long term by the fund would be distributed to shareholders as a long-term capital gain distribution no matter how long the shareholder has owned shares in the fund.
Refer to the fund’s annual report or statement of additional information for specific information regarding distributions.
Documents
Fund Literature
Factsheet - Putnam VT Income Fund
Regulatory Documents
Prospectus - Putnam VT Income Fund
Summary Prospectus - Putnam VT Income Fund
Annual Report - Putnam VT Income Fund - Class IA
Annual Financial Statements and Other Information - Putnam VT Income Fund
Semi-Annual Report - Putnam VT Income Fund - Class IA
Semi-Annual Financial Statements and Other Information - Putnam VT Income Fund
Statement Of Additional Information - Putnam Variable Trust
Fiscal Q1 Holdings - Putnam Variable Trust
Fiscal Q3 Holdings - PUTNAM VARIABLE TRUST
Risks
All investments involve risks, including possible loss of principal. Fixed income securities involve interest rate, credit, inflation and reinvestment risks, and possible loss of principal. As interest rates rise, the value of fixed income securities falls. Asset-backed, mortgage-backed or mortgage-related securities are subject to prepayment and extension risks. Derivative instruments can be illiquid, may disproportionately increase losses, and have a potentially large impact on performance. Active and frequent trading may increase a shareholder’s tax liability and transaction costs. Active management does not ensure gains or protect against market declines. The manager may consider environmental, social and governance (ESG) criteria in the research or investment process; however, ESG considerations may not be a determinative factor in security selection. In addition, the manager may not assess every investment for ESG criteria, and not every ESG factor may be identified or evaluated. These and other risks are discussed in the fund’s prospectus.
Important Information
Past performance is no guarantee of future results. These portfolios are available as investment options under a variable annuity or variable life contract. Shares of the portfolios are offered only to insurance company separate accounts that fund certain variable annuity or life contracts. These portfolios may not be available in all states and may only be offered in certain variable products. Please refer to the prospectuses. Variable annuities are long-term, tax-deferred investment vehicles designed for retirement purposes. Gains from tax-deferred investments are taxable as ordinary income upon withdrawal. Withdrawals made prior to age 59 1/2 are subject to a 10% IRS penalty charge and/or surrender charges. Investments in a variable annuity are subject to market risks, including loss of principal. Guarantees are based on the claims-paying ability of the insurer.
VARIABLE ANNUITIES ARE SOLD BY PROSPECTUS ONLY. AN INVESTOR SHOULD CONSIDER THE INVESTMENT OBJECTIVES, RISKS, CHARGES AND EXPENSES OF THE INSURANCE CONTRACT AND THE UNDERLYING PORTFOLIO CAREFULLY BEFORE INVESTING. THE PROSPECTUSES CONTAIN THIS AND OTHER IMPORTANT INFORMATION ABOUT THE INSURANCE CONTRACT AND THE UNDERLYING PORTFOLIO. FOR A FREE PROSPECTUS ON THE UNDERLYING PORTFOLIO, PLEASE CLICK ON THE PROSPECTUS LINK. AN INVESTOR SHOULD READ THE PROSPECTUSES CAREFULLY BEFORE INVESTING.
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Important data provider notices and terms available at www.franklintempletondatasources.com.
CFA® and Chartered Financial Analyst® are trademarks owned by CFA Institute.
Indexes are unmanaged and one cannot invest directly in an index. They do not reflect any fees, expenses or sales charges.
The Bloomberg U.S. Aggregate Index is comprised of investment-grade, U.S. dollar-denominated government, corporate, and mortgage- and asset-backed issues having at least one year to maturity.
Source: Bloomberg Indices.
Franklin Distributors, LLC. Member FINRA/SIPC. Investment Products: NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE.
Reports and other information about the fund are available on the EDGAR Database on the SEC's Internet site at www.sec.gov.
FINANCIAL ADVISORS: Please note that not all share classes may be available for sale at your firm. Please call Franklin Templeton at (800) 530-2432 for more information.