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This paper is the second part of a joint paper aimed at predicting the voltage sag performance of distribution networks by estimating voltage sag indices. This part explores the characteristics of voltage sags caused by faults in a distribution network considering the effect of the protective devices installed in the network. The work is based on a Monte Carlo procedure implemented in a time-domain simulation tool. Several scenarios with a different coordination between protective devices have been analyzed. As expected, the main conclusions are that the protection system can have a significant influence on voltage sag characteristics and proper coordination between protective devices can reduce voltage sag impact on end-user equipment.