(logo) Fidelity Investments®|||||||||||||||||||||||||||||||||||||||||||||||||||||||||| FPCMS
82 Devonshire Street
Boston MA 02109-3614
617-563-7000

||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||| February 9, 2010

U.S. Securities & Exchange Commission

100 F Street, N.E.

Washington, D.C. 20549

Attn: Sally Samuel

RE:	Variable Insurance Products Fund V (the trust):
	Asset Manager Portfolio Asset Manager: Growth Portfolio Freedom 2005 Portfolio Freedom 2010 Portfolio Freedom 2015 Portfolio Freedom 2020 Portfolio Freedom 2025 Portfolio Freedom 2030 Portfolio Freedom 2035 Portfolio Freedom 2040 Portfolio Freedom 2045 Portfolio Freedom 2050 Portfolio Freedom Income Portfolio Freedom Lifetime Income I Portfolio Freedom Lifetime Income II Portfolio Freedom Lifetime Income III Portfolio FundsManager 20% Portfolio FundsManager 50% Portfolio FundsManager 60% Portfolio FundsManager 70% Portfolio FundsManager 85% Portfolio Investment Grade Bond Portfolio Investor Freedom 2005 Portfolio Investor Freedom 2010 Portfolio Investor Freedom 2015 Portfolio Investor Freedom 2020 Portfolio Investor Freedom 2025 Portfolio Investor Freedom 2030 Portfolio Investor Freedom Income Portfolio Money Market Portfolio Strategic Income Portfolio (the funds)
	File Nos. (033-17704) and (811-05361)
	Post-Effective Amendment No. 36

Ladies and Gentlemen:

Pursuant to Rule 8b-16 under the Investment Company Act of 1940, as amended, Regulation S-T and Rule 485(a) under the Securities Act of 1933, as amended, transmitted herewith on behalf of the trust is Post-Effective Amendment No. 36 to the trust's current effective Registration Statement on Form N-1A. This transmission contains a conformed signature page, the manually signed original of which, executed pursuant to a Power of Attorney dated February 1, 2009, is maintained at the offices of the trust.

This filing contains the Prospectuses and Statements of Additional Information for Asset Manager Portfolio, Asset Manager: Growth Portfolio, Freedom 2005 Portfolio, Freedom 2010 Portfolio, Freedom 2015 Portfolio, Freedom 2020 Portfolio, Freedom 2025 Portfolio, Freedom 2030 Portfolio, Freedom 2035 Portfolio, Freedom 2040 Portfolio, Freedom 2045 Portfolio, Freedom 2050 Portfolio, Freedom Income Portfolio, Freedom Lifetime Income I Portfolio, Freedom Lifetime Income II Portfolio, Freedom Lifetime Income III Portfolio, FundsManager 20% Portfolio, FundsManager 50% Portfolio, FundsManager 60% Portfolio, FundsManager 70% Portfolio, FundsManager 85% Portfolio, Investment Grade Bond Portfolio, Investor Freedom 2005 Portfolio, Investor Freedom 2010 Portfolio, Investor Freedom 2015 Portfolio, Investor Freedom 2020 Portfolio, Investor Freedom 2025 Portfolio, Investor Freedom 2030 Portfolio, Investor Freedom Income Portfolio, Money Market Portfolio, and Strategic Income Portfolio. The documents have been modified to reflect amendments made to Form N-1A under the Enhanced Disclosure and New Prospectus Delivery Option for Registered Open-End Management Investment Companies Final Rule. This is the first filing of these documents in the amended format. Due to the extent of the modifications made to the prospectuses, these documents have not been tagged to indicate changes made since the last definitive filing. Each fund's SAI has been tagged to indicate modifications made since the last definitive filing. The funds are currently available for investment only by separate accounts of both affiliated and unaffiliated insurance companies to fund their variable life insurance contracts and variable annuity contracts.

This filing also serves to update standard disclosure and implement editorial changes.

Pursuant to Rule 485(a), the trust elects an effective date of April 30, 2010. We request your comments by March 11, 2010.

Please contact Jamie Plourde at (617) 563-1375 in connection with any questions or comments regarding this filing.

|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||	Sincerely,
	/s/ Eugenio Martinez
	Eugenio Martinez
	Legal Product Group