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 .

Table: ( 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%
Calculation: divide(50, 150)