NVIT S&P 500 Index
Fund
Summary Prospectus April 29, 2024
Class I / Class II / Class IV / Class Y
Before you invest, you may want to review the Fund’s Prospectus, which contains information about the Fund and its risks. This Summary Prospectus is intended for use in connection with variable insurance contracts, and is not intended for use by other investors. The Fund’s Prospectus and Statement of Additional Information, each dated April 29, 2024 (as may be supplemented or revised), are incorporated by reference into this Summary Prospectus. For free paper or electronic copies of the Fund’s Prospectus and other information about the Fund, go to nationwide.com/mutualfundsnvit, email a request to web_help@nationwide.com or call 800-848-0920, or ask any variable insurance contract provider who offers shares of the Fund as an underlying investment option in its products.
Objective
The NVIT S&P 500 Index Fund seeks long-term capital appreciation.
Fees and Expenses
This table describes the fees and expenses that you may pay if you buy, hold, and sell shares of the Fund. Sales charges and other expenses that may be imposed by variable insurance contracts are not included. If these charges were reflected, the expenses
listed below would be higher. See the variable insurance contract prospectus, which may impose sales charges and other additional contract-level expenses.
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your
investment)
| |
Class I
Shares |
Class II
Shares |
Class IV
Shares |
Class Y
Shares |
| Management Fees |
0.12% |
0.12% |
0.12% |
0.12% |
| Distribution and/or Service (12b-1) Fees |
None |
0.25% |
None |
None |
| Other Expenses |
0.20% |
0.20% |
0.15% |
0.05% |
| Total Annual Fund Operating Expenses |
0.32% |
0.57% |
0.27% |
0.17% |
| Fee Waiver/Expense Reimbursement(1) |
(0.07)% |
(0.07)% |
None |
None |
| Total Annual Fund Operating Expenses After Fee Waiver/Expense
Reimbursement |
0.25% |
0.50% |
0.27% |
0.17% |
(1)
Under the Fund Administrative Services Agreement between Nationwide Variable Insurance Trust (the “Trust”) and Nationwide Financial Services, Inc. (“NFS”),
NFS is entitled to receive an administrative services fee of 0.15% with respect to Class I and Class II shares of the Fund, and 0.10% with respect to Class IV shares of the Fund.
NFS has entered into a written contract with the Trust pursuant to which NFS will waive 0.07% of the administrative services fee charged to Class I and Class II shares through
April 30, 2025. The written contract may be changed or eliminated only with the consent of the Board of Trustees of the Trust.
Example
This Example is intended to help you to compare the cost of investing in the Fund with the
cost of investing in other mutual funds. The Example, however, does not include charges that are imposed by variable insurance contracts. If these charges were reflected, the expenses listed below would be higher.
This Example assumes that you invest $10,000 in the Fund for the time periods indicated and then sell all of your shares at the end of those time periods. It assumes a 5% return each year and no change in expenses, and any expense limitation or fee waivers that may apply for the periods indicated above under “Fees and Expenses.” Although your actual costs may be higher or lower, based on these assumptions your costs would be:
| |
1 Year |
3 Years |
5 Years |
10 Years |
| Class I Shares |
$26 |
$96 |
$173 |
$399 |
| Class II Shares |
51 |
176 |
311 |
707 |
| Class IV Shares |
28 |
87 |
152 |
343 |
| Class Y Shares |
17 |
55 |
96 |
217 |
NSP-SPX (4/24)
Summary Prospectus
April 29, 2024
1
NVIT S&P 500 Index Fund
