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)