notes to consolidated financial statements the amortized cost and fair value of fixed maturities by contractual maturity as of december 31 , 2007 , are as follows : amortized fair ( millions ) cost value .
[['( millions )', 'amortizedcost', 'fairvalue'], ['due in one year or less', '$ 50', '$ 50'], ['due after one year through five years', '52', '52'], ['due after five years through ten years', '47', '47'], ['due after ten years', '1', '1'], ['total fixed maturities', '$ 150', '$ 150']]
expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties .for categorization purposes , aon considers any rating of baa or higher by moody 2019s investor services or equivalent rating agency to be investment grade .aon 2019s continuing operations have no fixed maturities with an unrealized loss at december 31 , 2007 .aon 2019s fixed-maturity portfolio is subject to interest rate , market and credit risks .with a carrying value of approximately $ 150 million at december 31 , 2007 , aon 2019s total fixed-maturity portfolio is approximately 96% ( 96 % ) investment grade based on market value .aon 2019s non publicly-traded fixed maturity portfolio had a carrying value of $ 9 million .valuations of these securities primarily reflect the fundamental analysis of the issuer and current market price of comparable securities .aon 2019s equity portfolio is comprised of a preferred stock not publicly traded .this portfolio is subject to interest rate , market , credit , illiquidity , concentration and operational performance risks .limited partnership securitization .in 2001 , aon sold the vast majority of its limited partnership ( lp ) portfolio , valued at $ 450 million , to peps i , a qspe .the common stock interest in peps i is held by a limited liability company which is owned by aon ( 49% ( 49 % ) ) and by a charitable trust , which is not controlled by aon , established for victims of september 11 ( 51% ( 51 % ) ) .approximately $ 171 million of investment grade fixed-maturity securities were sold by peps i to unaffiliated third parties .peps i then paid aon 2019s insurance underwriting subsidiaries the $ 171 million in cash and issued to them an additional $ 279 million in fixed-maturity and preferred stock securities .as part of this transaction , aon is required to purchase from peps i additional fixed-maturity securities in an amount equal to the unfunded limited partnership commitments , as they are requested .aon funded $ 2 million of commitments in both 2007 and 2006 .as of december 31 , 2007 , these unfunded commitments amounted to $ 44 million .these commitments have specific expiration dates and the general partners may decide not to draw on these commitments .the carrying value of the peps i preferred stock was $ 168 million and $ 210 million at december 31 , 2007 and 2006 , respectively .prior to 2007 , income distributions received from peps i were limited to interest payments on various peps i debt instruments .beginning in 2007 , peps i had redeemed or collateralized all of its debt , and as a result , began to pay preferred income distributions .in 2007 , the company received $ 61 million of income distributions from peps i , which are included in investment income .aon corporation .

Question: what portion of the the total fixed maturities is due in one year or less?
Answer: 33.3%