NATIONWIDE VARIABLE INSURANCE TRUST

NVIT Fidelity Institutional AM^® Emerging Markets Fund (formerly, NVIT Emerging Markets Fund)

NVIT Putnam International Value Fund (formerly, NVIT Columbia Overseas Value Fund)

Supplement dated June 11, 2025

to the Prospectus dated April 30, 2025

Capitalized terms and certain other terms used in this supplement, unless otherwise defined in this supplement, have the meanings assigned to them in the Prospectus.

NVIT Fidelity Institutional AM^® Emerging Markets Fund (“Fidelity EM Fund”) and NVIT Putnam International Value Fund (“Putnam IV Fund”)

Effective July 1, 2025, the Prospectus is amended as follows:

1.

With respect to the Fidelity EM Fund, the table under the heading “Fees and Expenses” on page 30 of the Prospectus is hereby deleted and replaced with the following:

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 D Shares	Class Y Shares
Management Fees	0.95%	0.95%	0.95%	0.95%
Distribution and/or Service (12b-1) Fees	None	0.25%	0.25%	None
Other Expenses	0.31%	0.31%	0.36%	0.16%
Total Annual Fund Operating Expenses	1.26%	1.51%	1.56%	1.11%
Fee Waiver/Expense Reimbursement ⁽¹⁾	(0.14)%	(0.14)%	(0.14)%	(0.14)%
Total Annual Fund Operating Expenses After Fee Waiver/Expense Reimbursement	1.12%	1.37%	1.42%	0.97%

⁽¹⁾ Nationwide Variable Insurance Trust (the “Trust”) and Nationwide Fund Advisors (the “Adviser”) have entered into a written contract limiting annual fund operating expenses to 0.97% until at least April 30, 2027. Under the expense limitation agreement, the level to which operating expenses are limited applies to all share classes, excluding any taxes, interest, compensation payable to parties not affiliated with the Adviser for the recovery of tax reclaims, brokerage commissions, Rule 12b-1 fees, acquired fund fees and expenses, short-sale dividend expenses, administrative services fees, other expenses which are capitalized in accordance with generally accepted accounting principles and expenses incurred by the Fund in connection with any merger or reorganization, and may exclude other nonroutine expenses not incurred in the ordinary course of the Fund’s business. The expense limitation agreement may be changed or eliminated only with the consent of the Board of Trustees of the Trust. The Adviser may request and receive reimbursement from

the Fund for advisory fees waived or other expenses reimbursed by the Adviser pursuant to the expense limitation agreement at a date not to exceed three years from the date on which the corresponding waiver or reimbursement to the Fund was made. However, no reimbursement may be made unless: (i) the Fund’s assets exceed $100 million and (ii) the total annual expense ratio is no higher than the amount of the expense limitation that was in place at the time the Adviser waived the fees or reimbursed the expenses and does not cause the expense ratio to exceed the current expense limitation. Reimbursement by the Fund of amounts previously waived or reimbursed by the Adviser is not permitted except as provided for in the expense limitation agreement.

2.

With respect to the Fidelity EM Fund, the table under the heading “Example” on page 30 of the Prospectus is hereby deleted and replaced with the following:


	1 Year	3 Years	5 Years	10 Years
Class I Shares	$114	$386	$678	$1,510
Class II Shares	139	463	810	1,790
Class D Shares	145	479	837	1,845
Class Y Shares	99	339	598	1,339

3.

With respect to the Putnam IV Fund, the table under the heading “Fees and Expenses” on page 68 of the Prospectus is hereby deleted and replaced with the following:

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 X Shares	Class Y Shares	Class Z Shares
Management Fees⁽¹⁾	0.73%	0.73%	0.73%	0.73%	0.73%
Distribution and/or Service (12b-1) Fees	None	0.25%	None	None	0.25%
Other Expenses	0.24%	0.24%	0.10%	0.09%	0.10%
Acquired Fund Fees and Expenses	0.02%	0.02%	0.02%	0.02%	0.02%
Total Annual Fund Operating Expenses	0.99%	1.24%	0.85%	0.84%	1.10%
Fee Waiver/Expense Reimbursement⁽²⁾	(0.04)%	(0.04)%	(0.04)%	(0.04)%	(0.04)%
Total Annual Fund Operating Expenses After Fee Waiver/Expense Reimbursement	0.95%	1.20%	0.81%	0.80%	1.06%

⁽¹⁾“Management Fees” has been restated to reflect the reduction of contractual investment advisory fees as of February 3, 2025.

⁽²⁾ Nationwide Variable Insurance Trust (the “Trust”) and Nationwide Fund Advisors (the “Adviser”) have entered into a written contract limiting annual fund operating expenses to 0.78% until at least April 30, 2027. Under the expense limitation agreement, the level to which operating expenses are limited applies to all share classes, excluding any taxes, interest, compensation payable to parties not affiliated with the Adviser for the recovery of tax reclaims, brokerage commissions, Rule 12b-1 fees, acquired fund fees and expenses, short-sale dividend expenses, administrative services fees, other expenses which are capitalized in accordance with generally accepted accounting principles and expenses incurred by the Fund in connection with any merger or reorganization, and may exclude other nonroutine expenses not incurred in the ordinary course of the Fund’s business. The expense limitation agreement may be changed or eliminated only with the consent of the Board of Trustees of the Trust. The Adviser may request and receive reimbursement from the Fund for advisory fees waived or other expenses reimbursed by the Adviser pursuant to the expense limitation agreement at a date not to exceed three years from the date on which the corresponding waiver or reimbursement to the Fund was made. However, no reimbursement may be made unless: (i) the Fund’s assets exceed $100 million and (ii) the total annual expense ratio is no higher than the amount of the expense limitation that was in place at the time the Adviser waived the fees or reimbursed the expenses and does not cause the expense ratio to exceed the current expense limitation. Reimbursement by the Fund of amounts previously waived or reimbursed by the Adviser is not permitted except as provided for in the expense limitation agreement.

3.

With respect to the Putnam IV Fund, the table under the heading “Example” on page 68 of the Prospectus is hereby deleted and replaced with the following:


	1 Year	3 Years	5 Years	10 Years
Class I Shares	$97	$311	$543	$1,209
Class II Shares	122	389	677	1,496
Class X Shares	83	267	467	1,045
Class Y Shares	82	264	462	1,033
Class Z Shares	108	346	602	1,337

Prospectus [Line Items]

Supplement to Prospectus [Text Block]

NATIONWIDE VARIABLE INSURANCE TRUST

NVIT Putnam International Value Fund (formerly, NVIT Columbia Overseas Value Fund)

Supplement dated June 11, 2025

to the Prospectus dated April 30, 2025

Capitalized terms and certain other terms used in this supplement, unless otherwise defined in this supplement, have the meanings assigned to them in the Prospectus.

NVIT Fidelity Institutional AM^® Emerging Markets Fund (“Fidelity EM Fund”) and NVIT Putnam International Value Fund (“Putnam IV Fund”)

Effective July 1, 2025, the Prospectus is amended as follows:

3.

With respect to the Putnam IV Fund, the table under the heading “Fees and Expenses” on page 68 of the Prospectus is hereby deleted and replaced with the following:

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 X Shares	Class Y Shares	Class Z Shares
Management Fees⁽¹⁾	0.73%	0.73%	0.73%	0.73%	0.73%
Distribution and/or Service (12b-1) Fees	None	0.25%	None	None	0.25%
Other Expenses	0.24%	0.24%	0.10%	0.09%	0.10%
Acquired Fund Fees and Expenses	0.02%	0.02%	0.02%	0.02%	0.02%
Total Annual Fund Operating Expenses	0.99%	1.24%	0.85%	0.84%	1.10%
Fee Waiver/Expense Reimbursement⁽²⁾	(0.04)%	(0.04)%	(0.04)%	(0.04)%	(0.04)%
Total Annual Fund Operating Expenses After Fee Waiver/Expense Reimbursement	0.95%	1.20%	0.81%	0.80%	1.06%

⁽¹⁾“Management Fees” has been restated to reflect the reduction of contractual investment advisory fees as of February 3, 2025.

⁽²⁾ Nationwide Variable Insurance Trust (the “Trust”) and Nationwide Fund Advisors (the “Adviser”) have entered into a written contract limiting annual fund operating expenses to 0.78% until at least April 30, 2027. Under the expense limitation agreement, the level to which operating expenses are limited applies to all share classes, excluding any taxes, interest, compensation payable to parties not affiliated with the Adviser for the recovery of tax reclaims, brokerage commissions, Rule 12b-1 fees, acquired fund fees and expenses, short-sale dividend expenses, administrative services fees, other expenses which are capitalized in accordance with generally accepted accounting principles and expenses incurred by the Fund in connection with any merger or reorganization, and may exclude other nonroutine expenses not incurred in the ordinary course of the Fund’s business. The expense limitation agreement may be changed or eliminated only with the consent of the Board of Trustees of the Trust. The Adviser may request and receive reimbursement from the Fund for advisory fees waived or other expenses reimbursed by the Adviser pursuant to the expense limitation agreement at a date not to exceed three years from the date on which the corresponding waiver or reimbursement to the Fund was made. However, no reimbursement may be made unless: (i) the Fund’s assets exceed $100 million and (ii) the total annual expense ratio is no higher than the amount of the expense limitation that was in place at the time the Adviser waived the fees or reimbursed the expenses and does not cause the expense ratio to exceed the current expense limitation. Reimbursement by the Fund of amounts previously waived or reimbursed by the Adviser is not permitted except as provided for in the expense limitation agreement.

3.

With respect to the Putnam IV Fund, the table under the heading “Example” on page 68 of the Prospectus is hereby deleted and replaced with the following:


	1 Year	3 Years	5 Years	10 Years
Class I Shares	$97	$311	$543	$1,209
Class II Shares	122	389	677	1,496
Class X Shares	83	267	467	1,045
Class Y Shares	82	264	462	1,033
Class Z Shares	108	346	602	1,337