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aig:C000022845Member 2021-01-01 2021-12-31 0000719423 aig:S000008348Member aig:C000022845Member 2022-01-01 2022-12-31 0000719423 aig:S000008348Member aig:C000022845Member 2023-01-01 2023-12-31 0000719423 aig:S000008348Member aig:C000022845Member 2024-01-01 2024-12-31 0000719423 aig:S000008348Member aig:C000022845Member 2025-01-01 2025-12-31 pure iso4217:USD Fund Summary: Aggressive Allocation Lifestyle Fund Fund Summary: Mid Cap Strategic Growth Fund Fund Summary: Science &amp; Technology Fund Fund Summary: Global Real Estate Fund Fund Summary: Mid Cap Index Fund Fund Summary: International Growth Fund Fund Summary: Dynamic Allocation Fund Fund Summary: Government Securities Fund Fund Summary: Small Cap Core Fund (formerly, Small Cap Special Values Fund) Fund Summary: Asset Allocation Fund Fund Summary: Growth Fund Fund Summary: International Equities Index Fund Fund Summary: Systematic Growth Fund Fund Summary: Mid Cap Value Fund Fund Summary: Moderate Allocation Lifestyle Fund Fund Summary: Inflation Protected Fund Fund Summary: Small Cap Value Fund Fund Summary: International Government Bond Fund Fund Summary: Nasdaq-100® Index Fund Fund Summary: Conservative Allocation Lifestyle Fund Fund Summary: International Opportunities Fund Fund Summary: Core Bond Fund Fund Summary: U.S. Socially Responsible Fund Fund Summary: Dividend Value Fund Fund Summary: Small Cap Index Fund Fund Summary: Systematic Value Fund Fund Summary: High Yield Bond Fund Fund Summary: International Socially Responsible Fund Fund Summary: Systematic Core Fund Fund Summary: International Value Fund Fund Summary: Stock Index Fund Fund Summary: Capital Appreciation Fund Fund Summary: Small Cap Growth Fund Fund Summary: Large Cap Core Fund Fund Summary: Global Strategy Fund Fund Summary: Emerging Economies Fund 2026-05-31 0000719423 false 485BPOS 0.0878 0.1626 -0.0860 0.2304 0.1347 0.1602 -0.1624 0.1704 0.1423 0.1694 0.0968 0.2628 -0.0473 0.3773 0.3423 0.1686 -0.2340 0.2241 0.1978 0.1134 0.0733 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style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">The table </span><span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">and the example below do not reflect the separate account fees charged in the variable annuity or variable life insurance policy (“Variable Contracts”) in which the Fund is offered.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> As an investor in the Fund, </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">you pay the expenses of the Fund and indirectly pay a proportionate share of the expenses of the Underlying Funds. If separate account fees were shown, the Fund’s annual operating expenses would be higher. Please see your Variable Contract prospectus for more details on the </span><span style="color:#000000;font-family:Arial;font-size:10pt;">separate account fees.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;text-decoration:underline;">Annual Fund Operating Expenses</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> (expenses that you </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">pay each year as a percentage of the value of your </span><span style="color:#000000;font-family:Arial;font-size:10pt;">investment)</span> 0.0010 0.0003 0.0046 0.0059 -0.0003 0.0056 <span style="color:#000000;font-family:Arial;font-size:8pt;">The Total Annual Fund Operating Expenses for the Fund do not correlate to the ratio of net expenses to average net assets provided in the Financial Highlights table of the Fund’s annual report, which reflects the net operating expenses of the Fund and does not include Acquired Fund Fees and Expenses.</span> <span style="font-family:Arial;font-size:8pt;">September 30, 2027</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-style:italic;font-weight:bold;text-decoration:underline;">Expense Example</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem or hold all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same (except that the Example </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">incorporates any applicable fee waiver and/or expense limitation arrangements for only the first year). The Example does not reflect charges imposed by the Variable Contract. If the </span><span style="font-family:Arial;font-size:10pt;">separate account fees were reflected, the </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">expenses would be higher. See the Variable Contract prospectus for information on such charges. Although your actual costs may be higher or lower, based on these assumptions and the net expenses shown in the fee table, </span><span style="font-family:Arial;font-size:10pt;">your costs would be:</span> 57 186 326 735 <span style="color:#000000;font-family:Arial;font-size:10pt;font-style:italic;font-weight:bold;text-decoration:underline;">Portfolio Turnover</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund, which operates as a fund-of-funds, does not pay transaction costs when it buys and sells shares of the Underlying Funds (or “turns over” its portfolio). An Underlying Fund pays transaction costs, such as commissions, when it turns over its portfolio and a higher portfolio turnover rate may indicate higher transaction costs. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the </span><span style="color:#000000;font-family:Arial;font-size:10pt;">performance of both the Underlying Fund and the Fund. </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">During the most recent fiscal year, the Fund’s portfolio </span><span style="font-family:Arial;font-size:10pt;">turnover rate was </span><span style="font-family:Arial;font-size:10pt;">25</span><span style="font-family:Arial;font-size:10pt;">% of the average value of its portfolio.</span> 0.25 <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Principal Investment Strategies of the Fund</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">As a fund-of-funds, the Fund’s principal investment strategy is to allocate assets among a combination of mutual funds (“Underlying Funds”) that, in turn, invest directly in a wide range of portfolio securities (like stocks and bonds). The Fund uses asset allocation strategies to </span><span style="color:#000000;font-family:Arial;font-size:10pt;">determine how much to invest in the Underlying Funds. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">Generally, the Fund invests a larger portion of its assets in Underlying Funds that invest in securities with a greater opportunity for capital growth, such as stocks, and generally has a higher level of risk than the Moderate Allocation Lifestyle Fund and the Conservative Allocation Lifestyle Fund. The Fund’s indirect holdings are primarily in equity securities of domestic and foreign companies of any market capitalization, and fixed-income securities of domestic issuers. A portion of the Fund’s indirect holdings may also include fixed-income securities of foreign issuers, and money market securities. The Fund’s indirect holdings in fixed-income securities may include high yielding, high risk fixed-income securities (often referred </span><span style="color:#000000;font-family:Arial;font-size:10pt;">to as “junk bonds”). </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">Asset allocation is the most critical investment decision that you make as an investor. Selecting the appropriate </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">combination should be based on your personal investment goals, time horizons and risk tolerance. The projected </span><span style="color:#000000;font-family:Arial;font-size:10pt;">asset allocation ranges for the Fund are as follows:</span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0.0pt;">•</span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0.0pt;">Domestic Equity Funds</span><span style="color:#000000;font-family:Arial;font-size:10pt;">40% - 70%</span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0.0pt;">•</span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0.0pt;">Fixed-Income Funds</span><span style="color:#000000;font-family:Arial;font-size:10pt;">10% - 50%</span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0.0pt;">•</span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0.0pt;">International Equity Funds</span><span style="color:#000000;font-family:Arial;font-size:10pt;">0% - 30%</span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">This Fund is managed so that it can serve as a complete investment program for you or as a core part of your larger </span><span style="color:#000000;font-family:Arial;font-size:10pt;">portfolio. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">Although the Fund will generally maintain its assets within the allocations above, the Fund may hold cash or cash equivalents for various purposes, including for temporary </span><span style="color:#000000;font-family:Arial;font-size:10pt;">defensive purposes. </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">The Underlying Funds have been selected to represent a reasonable spectrum of investment options for the Fund. The subadviser has based the target investment percentages for the Fund on the degree to which it believes the Underlying Funds, in combination, to be appropriate for the Fund’s investment objective. The subadviser may change the asset allocation ranges from time to time. In selecting Underlying Funds, the subadviser may choose from other series of VALIC Company I and from unaffiliated money market funds that VALIC has designated available for investment for the Fund. The Underlying Funds </span><span style="font-family:Arial;font-size:10pt;">include funds subadvised by </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">the subadviser. Consistent with the Fund’s objective and strategies, the subadviser is permitted to invest in Underlying Funds it subadvises. When choosing among potential Underlying Funds, the subadviser faces a conflict of interest because it will receive additional fees when it selects Underlying Funds for which it also acts as subadviser. Please refer to the Fund’s </span><span style="font-family:Arial;font-size:10pt;">Statement of </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">Additional Information</span><span style="font-family:Arial;font-size:10pt;"> for more information on the subadviser’s conflicts of interest. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Underlying Funds in which the Fund invests may engage in active and frequent trading of portfolio securities in an effort to achieve their investment </span><span style="color:#000000;font-family:Arial;font-size:10pt;">objectives.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;">Shares of the Fund are not bank deposits and </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">are not guaranteed or insured by any bank, government entity or the Federal Deposit Insurance Corporation.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;"> If the </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">value of the assets of the Fund goes down, you could lose </span><span style="color:#000000;font-family:Arial;font-size:10pt;">money.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Active Trading Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The Underlying Funds may actively </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">trade, which is associated with high portfolio turnover rates and which may result in higher transaction costs to the Underlying Funds. High portfolio turnover rates of the Underlying Funds can adversely affect the Fund’s performance. Active trading tends to be more pronounced </span><span style="color:#000000;font-family:Arial;font-size:10pt;">during periods of increased market volatility.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Affiliated Fund Risk. </span><span style="color:#000000;font-family:Arial;font-size:10pt;">The subadviser is subject to </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">conflicts of interest in the selection and allocation of the Fund’s assets among Underlying Funds. The subadviser serves as subadviser to certain Underlying Funds in which the Fund may invest. The subadviser will receive more revenue when it selects an Underlying Fund it subadvises </span><span style="color:#000000;font-family:Arial;font-size:10pt;">for inclusion in the Fund’s portfolio.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Equity Securities Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The Underlying Funds may </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">invest in equity securities, which are subject to the risk that stock prices will fall and may underperform other asset classes. Individual stock prices fluctuate from day-to-day and may decline significantly. The prices of individual stocks may be negatively affected by poor company results or other factors affecting individual prices, as well as industry and/or economic trends and developments </span><span style="color:#000000;font-family:Arial;font-size:10pt;">affecting industries or the securities market as a whole.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Call or Prepayment Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> During periods of falling </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">interest rates, a bond issuer may “call” a bond to repay it before its maturity date. An Underlying Fund may only be able to invest the bond’s proceeds at lower interest rates, </span><span style="color:#000000;font-family:Arial;font-size:10pt;">resulting in a decline in the Underlying Fund’s income.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Credit Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The Fund may suffer losses if the issuer of </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">a fixed-income security owned by an Underlying Fund is </span><span style="color:#000000;font-family:Arial;font-size:10pt;">unable to make interest or principal payments.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Foreign Investment Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The Underlying Funds may </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">invest in foreign securities. Investment in foreign securities involves risks due to several factors, such as illiquidity, the lack of public information, changes in the exchange rates between foreign currencies and the U.S. dollar, </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">unfavorable political, social and legal developments, or economic and financial instability. Foreign companies are not subject to the U.S. accounting and financial reporting standards and may have riskier settlement procedures. U.S. investments that are denominated in foreign currencies or that are traded in foreign markets, or securities of U.S. companies that have significant foreign </span><span style="color:#000000;font-family:Arial;font-size:10pt;">operations may be subject to foreign investment risk.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Interest Rate Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The Underlying Funds may invest in </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">fixed-income securities. Fixed income securities may be subject to volatility due to changes in interest rates. The value of fixed-income securities may decline when interest rates go up or increase when interest rates go down. The interest earned on fixed-income securities may decline when interest rates go down or increase when interest rates go up. Duration is a measure of interest rate risk that indicates how price-sensitive a bond is to changes in interest rates. Longer-term and lower coupon bonds tend to be more sensitive to changes in interest rates. For example, a bond with a duration of three years will decrease in value by approximately 3% if interest rates increase by 1%. Any future changes in monetary policy made by central banks and/or their governments </span><span style="color:#000000;font-family:Arial;font-size:10pt;">are likely to affect the level of interest rates.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Fund-of-Funds Risk. </span><span style="color:#000000;font-family:Arial;font-size:10pt;">The costs of investing in a fund-of-funds,</span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;"> may be higher than the costs of investing in a mutual fund that only invests directly in individual securities. An Underlying Fund may change its investment objective or policies without the Fund’s approval, which could force the Fund to withdraw its investment from such Underlying Fund at a time that is unfavorable to the Fund. In addition, one Underlying Fund may buy the same securities that another Underlying Fund sells. Therefore, the Fund would indirectly bear the costs of these trades </span><span style="color:#000000;font-family:Arial;font-size:10pt;">without accomplishing any investment purpose.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Underlying Funds Risk. </span><span style="color:#000000;font-family:Arial;font-size:10pt;">The risks of the Fund owning </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">the Underlying Funds generally reflect the risks of owning the underlying securities held by the Underlying Funds. Disruptions in the markets for the securities held by the Underlying Funds could result in losses on the Fund’s investment in such securities. The Underlying Funds also have fees that increase their costs versus owning the underlying securities directly. For example, the Fund indirectly pays a portion of the expenses (including management fees and operating expenses) incurred by </span><span style="color:#000000;font-family:Arial;font-size:10pt;">the Underlying Funds.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Large-Cap Companies Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The Underlying Funds may </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">invest in large-cap companies. Investing primarily in large-cap companies carries the risk that due to current market conditions these companies may be out of favor with investors. Large-cap companies may be unable to respond quickly to new competitive challenges or attain </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">the high growth rate of successful smaller companies. Larger, more established companies may be unable to respond quickly to new competitive challenges, such as changes in technology and consumer tastes. Larger companies also may not be able to attain the high growth rate of successful smaller companies, particularly during </span><span style="color:#000000;font-family:Arial;font-size:10pt;">extended periods of economic expansion.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Junk Bond Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The Underlying Funds may invest in </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">high yielding, high risk fixed-income securities (often referred to as “junk bonds”), which typically involve significantly greater credit risk, market risk and interest rate risk compared to higher rated fixed-income securities. Issuers of junk bonds are less secure financially and their securities are more sensitive to downturns in the economy. The market for junk bonds may not be as liquid as that for </span><span style="color:#000000;font-family:Arial;font-size:10pt;">more highly rated securities.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Market Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The share price of the Underlying Funds </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">and, as a result, the share price of the Fund can fall because of weakness in the broad market, a particular industry, or specific holdings or due to adverse social, political or economic developments here or abroad, changes in investor psychology, technological disruptions, or heavy institutional selling and other conditions or events (including, for example, military confrontations, war, terrorism, trade wars, disease/virus outbreaks and epidemics). The prices of individual securities may fluctuate, sometimes dramatically, from day to day. The prices of stocks and other equity securities tend to be </span><span style="color:#000000;font-family:Arial;font-size:10pt;">more volatile than those of fixed-income securities.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Asset Allocation Risk. </span><span style="color:#000000;font-family:Arial;font-size:10pt;">The Fund’s risks will directly </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">correspond to the risks of the Underlying Funds in which it invests. The Fund is subject to the risk that the selection of the Underlying Funds and the allocation and reallocation of the Fund’s assets among the various asset classes and market sectors may not produce the desired </span><span style="color:#000000;font-family:Arial;font-size:10pt;">result.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Mid-Cap Company Risk. </span><span style="color:#000000;font-family:Arial;font-size:10pt;">The Underlying Funds may </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">invest in mid-cap companies. Investing primarily in mid-cap companies carries the risk that due to current market conditions these companies may be out of favor with investors. Stocks of mid-cap companies may be more volatile than those of larger companies due to, among other reasons, narrower product lines, more limited </span><span style="color:#000000;font-family:Arial;font-size:10pt;">financial resources and fewer experienced managers.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Small-Cap Company Risk. </span><span style="color:#000000;font-family:Arial;font-size:10pt;">The Underlying Funds may </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">invest in small-cap companies. Investing in small-cap companies carries the risk that due to current market conditions these companies may be out of favor with investors. Small companies often are in the early stages of development with limited product lines, markets, or financial resources and managements lacking depth and </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">experience, which may cause their stock prices to be more volatile than those of larger companies. Small company stocks may be less liquid yet subject to abrupt or erratic price movements. It may take a substantial period of time before an Underlying Fund realizes a gain on an investment in a small-cap company, if it realizes any gain </span><span style="color:#000000;font-family:Arial;font-size:10pt;">at all.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Underlying Fund Securities Lending Risk</span><span style="color:#000000;font-family:Arial;font-size:10pt;">. Certain </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">Underlying Funds may lend portfolio securities to generate additional income. Engaging in securities lending could increase the market and credit risk for an Underlying Fund’s investments. An Underlying Fund may lose money if it does not recover borrowed securities, the value of the collateral falls, or the value of investments made with cash collateral declines. An Underlying Fund’s loans will be collateralized by securities issued or guaranteed by the U.S. Government or its agencies and instrumentalities, which subjects such Underlying Fund to the credit risk of the U.S. Government or the issuing federal agency or instrumentality. If the value of either the cash collateral or an Underlying Fund’s investments of the cash collateral falls below the amount owed to a borrower, the Underlying Fund also may incur losses that exceed the amount it earned on lending the security. Securities lending also involves the risks of delay in receiving additional collateral or possible loss of rights in the collateral if the borrower fails. Another risk of securities lending is the risk that the loaned portfolio securities may not be available to an Underlying Fund on a timely basis and the Underlying Fund may therefore lose the opportunity to sell the securities at a desirable price. If an Underlying Fund in which the Fund invests incurs losses as a result of its securities lending activities, the value of the Underlying Fund may decrease, which will have an </span><span style="color:#000000;font-family:Arial;font-size:10pt;">adverse effect on the Fund.</span> <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Performance Information</span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">As a result of a reorganization which occurred on May 24, 2021 (the “Reorganization”), the Fund acquired all of the assets and liabilities of the Aggressive </span><span style="font-family:Arial;font-size:10pt;">Growth </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">Lifestyle Fund (the “Predecessor Fund”), a series of VALIC Company II. The Fund adopted the performance of the Predecessor Fund as a result of the Reorganization and returns presented for the Fund prior to that date reflect the performance of the Predecessor Fund. The </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">Fund had not yet commenced operations prior to the Reorganization. The performance information below is based on the performance of the Predecessor Fund for periods prior to the date of the Reorganization. The Fund and the Predecessor Fund had substantially similar investment objectives and strategies and had the same portfolio management team as of the date of the </span><span style="color:#000000;font-family:Arial;font-size:10pt;">Reorganization. </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">The below bar chart and table illustrate the risks of investing in the Fund by showing changes in the Fund’s performance from calendar year to calendar year and comparing the Fund’s average annual returns to those of the S&amp;P 500</span><span style="font-family:Arial;font-size:6.5pt;position:relative;top:-3.25pt;">®</span><span style="font-family:Arial;font-size:10pt;"> Index (a broad-based securities market </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">index) and a blended index. The blended index is comprised of 56% Russell 3000</span><span style="font-family:Arial;font-size:6.5pt;position:relative;top:-3.25pt;">®</span><span style="font-family:Arial;font-size:10pt;"> Index, 19% MSCI EAFE </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">Index (net), and 25% Bloomberg U.S. Aggregate Bond Index (the “Aggr Alloc Lifestyle Blended Index”). The Aggr Alloc Lifestyle Blended Index is relevant to the Fund because it has characteristics similar to the Fund’s investment strategies.</span><span style="font-family:Arial;font-size:10pt;"> Fees and expenses incurred at the </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">contract level are not reflected in the bar chart or table. If these amounts were reflected, returns would be less than those shown. </span><span style="font-family:Arial;font-size:10pt;">Of course, past performance of the Fund is </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">not necessarily an indication of how the Fund will perform </span><span style="font-family:Arial;font-size:10pt;">in the future.</span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">J.P. Morgan Investment Management Inc. (“JPMIM”) assumed subadvisory responsibility for the Fund effective September 28, 2022. Prior to that, PineBridge Investments LLC served as subadviser to the Fund and to </span><span style="color:#000000;font-family:Arial;font-size:10pt;">the Predecessor Fund.   </span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">The below bar chart and table illustrate the risks of investing in the Fund by showing changes in the Fund’s performance from calendar year to calendar year and comparing the Fund’s average annual returns to those of the S&amp;P 500</span><span style="font-family:Arial;font-size:6.5pt;position:relative;top:-3.25pt;">®</span><span style="font-family:Arial;font-size:10pt;"> Index (a broad-based securities market </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">index) and a blended index. The blended index is comprised of 56% Russell 3000</span><span style="font-family:Arial;font-size:6.5pt;position:relative;top:-3.25pt;">®</span><span style="font-family:Arial;font-size:10pt;"> Index, 19% MSCI EAFE </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">Index (net), and 25% Bloomberg U.S. Aggregate Bond Index (the “Aggr Alloc Lifestyle Blended Index”). The Aggr Alloc Lifestyle Blended Index is relevant to the Fund because it has characteristics similar to the Fund’s investment strategies.</span> <span style="font-family:Arial;font-size:10pt;"> Fees and expenses incurred at the </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">contract level are not reflected in the bar chart or table. If these amounts were reflected, returns would be less than those shown. </span> <span style="font-family:Arial;font-size:10pt;">Of course, past performance of the Fund is </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">not necessarily an indication of how the Fund will perform </span><span style="font-family:Arial;font-size:10pt;">in the future.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;">During the period shown in the bar chart:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Highest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">June 30, 2020</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">15.26%</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Lowest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">March 31, 2020</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">-19.27%</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Year to Date Most </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Recent Quarter:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">June 30, 2026</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">7.96%</span> <span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Highest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span> 2020-06-30 0.1526 <span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Lowest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span> 2020-03-31 -0.1927 <span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Year to Date Most </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Recent Quarter:</span> 2026-06-30 0.0796 <span style="font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Average Annual Total Returns</span><span style="font-family:Arial;font-size:10pt;"> (For the periods ended December 31, 2025)</span> 0.1694 0.0873 0.0938 0.1788 0.1442 0.1482 0.1731 0.0903 0.1019 <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Investment Objective</span> <span style="color:#000000;font-family:Arial;font-size:10pt;">The Fund seeks total return.</span> <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Fees and Expenses of the Fund</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">This table describes the fees and expenses that you may pay if you buy, hold and sell shares of the Fund. </span><span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">The table </span><span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">and the example below do not reflect the separate account fees charged in the variable annuity or variable life insurance policy (“Variable Contracts”) in which the Fund is offered.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> If separate account fees were </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">shown, the Fund’s annual operating expenses would be higher. Please see your Variable Contract prospectus for </span><span style="color:#000000;font-family:Arial;font-size:10pt;">more details on the separate account fees.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;text-decoration:underline;">Annual Fund Operating Expenses</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> (expenses that you </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">pay each year as a percentage of the value of your </span><span style="color:#000000;font-family:Arial;font-size:10pt;">investment)</span> 0.0050 0.0021 0.0071 -0.0005 0.0066 <span style="font-family:Arial;font-size:8pt;">September 30, 2027</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-style:italic;font-weight:bold;text-decoration:underline;">Expense Example</span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem or hold all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same (except that the Example incorporates any applicable fee waiver and/or expense limitation arrangements for only the first year). The Example does not reflect charges imposed by the Variable Contract. If the </span><span style="font-family:Arial;font-size:10pt;">separate account fees were reflected, the </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">expenses would be higher. See the Variable Contract prospectus for information on such charges. Although your actual costs may be higher or lower, based on these assumptions and the net expenses shown in the fee table, </span><span style="font-family:Arial;font-size:10pt;">your costs would be:</span> 67 222 390 878 <span style="color:#000000;font-family:Arial;font-size:10pt;font-style:italic;font-weight:bold;text-decoration:underline;">Portfolio Turnover</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). These costs, which are not reflected in annual fund operating expenses or in the Example, affect the </span><span style="color:#000000;font-family:Arial;font-size:10pt;">Fund’s performance.</span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">During the most recent fiscal year, the Fund’s portfolio </span><span style="font-family:Arial;font-size:10pt;">turnover rate was </span><span style="font-family:Arial;font-size:10pt;">38%</span><span style="font-family:Arial;font-size:10pt;"> of the average value of its portfolio.</span> 0.38 <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Principal Investment Strategies of the Fund</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund attempts to achieve its investment objective by investing in a diverse combination of equity and fixed income investments. Under normal circumstances, the Fund intends to invest approximately 60% of its assets in equity securities and approximately 40% of its assets in </span><span style="color:#000000;font-family:Arial;font-size:10pt;">fixed income securities. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The equity securities in which the Fund primarily intends to invest include common stocks of large and medium capitalization U.S. companies included in the S&amp;P 500</span><span style="color:#000000;font-family:Arial;font-size:6.5pt;position:relative;top:-3.25pt;">® </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">Index. Sector by sector, the Fund’s weightings in its equity portion are similar to those of the S&amp;P 500</span><span style="color:#000000;font-family:Arial;font-size:6.5pt;position:relative;top:-3.25pt;">®</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Index. Within </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">each sector, the Fund focuses on those equity securities that it considers most undervalued and seeks to outperform the S&amp;P 500</span><span style="color:#000000;font-family:Arial;font-size:6.5pt;position:relative;top:-3.25pt;">®</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Index through superior stock </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">selection. By emphasizing undervalued equity securities, the Fund seeks to produce returns that exceed those of the S&amp;P 500</span><span style="color:#000000;font-family:Arial;font-size:6.5pt;position:relative;top:-3.25pt;">®</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Index. At the same time, by controlling the </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">sector weightings of the Fund so they can differ only moderately from the sector weightings of the S&amp;P 500</span><span style="color:#000000;font-family:Arial;font-size:6.5pt;position:relative;top:-3.25pt;">® </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">Index, the Fund seeks to limit its volatility to that of the overall market, as represented by this index. It will also </span><span style="color:#000000;font-family:Arial;font-size:10pt;">look to identify companies that regularly pay dividends. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">In managing the equity portion of the Fund, the subadviser employs a three-step process that combines research, valuation and stock selection. The subadviser takes an in-depth look at company prospects over a period as long as five years, which is designed to provide insight into a company’s real growth potential. The research findings allow the subadviser to rank the companies in </span><span style="color:#000000;font-family:Arial;font-size:10pt;">each sector group according to their relative value. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The subadviser then buys and sells equity securities, using the research and valuation rankings as a basis. In general, the subadviser buys equity securities that are identified as undervalued and considers selling them when they appear to be overvalued. Along with attractive </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">valuation, the subadviser often considers a number of </span><span style="color:#000000;font-family:Arial;font-size:10pt;">other criteria: </span><span style="color:#000000;font-family:Arial;font-size:10pt;">•</span><span style="color:#000000;font-family:Arial;font-size:10pt;">catalysts that could trigger a rise in a stock’s price; </span><span style="color:#000000;font-family:Arial;font-size:10pt;">•</span><span style="color:#000000;font-family:Arial;font-size:10pt;">high potential reward compared to potential risk; and </span><span style="color:#000000;font-family:Arial;font-size:10pt;">•</span><span style="color:#000000;font-family:Arial;font-size:10pt;">temporary mispricings caused by apparent market overreactions. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The fixed income securities in which the Fund intends to invest include corporate bonds, U.S. treasury obligations, including treasury coupon strips and treasury principal strips, and other U.S. government and agency securities, and asset-backed, mortgage-related and mortgage-backed securities included in the Bloomberg U.S. Aggregate Bond Index. Mortgage-related and mortgage-backed securities may be structured as collateralized mortgage obligations (agency and non-agency), stripped mortgage-backed securities, commercial mortgage-backed securities, mortgage pass-through securities and cash and cash equivalents. The Fund will invest only in fixed income securities that are investment grade at the time of purchase and may invest in fixed income securities </span><span style="color:#000000;font-family:Arial;font-size:10pt;">of any maturity or duration. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">All fixed income securities in which the Fund will invest will be U.S. dollar-denominated, although they may be issued by a foreign corporation or a U.S. affiliate of a foreign corporation or a foreign government or its agencies and instrumentalities. The subadviser may invest all or a significant portion of the assets of the Fund’s fixed income portion in mortgage-related and mortgage-backed securities in the subadviser’s discretion. The Fund expects to invest no more than 10% of the fixed income portion’s assets in “sub-prime” mortgage-related securities considered to be investment grade at the time </span><span style="color:#000000;font-family:Arial;font-size:10pt;">of purchase. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">In choosing fixed income securities, the subadviser buys and sells securities and investments for the Fund based on its view of individual securities and market sectors. Taking a long-term approach, the subadviser looks for individual fixed income investments that it believes will perform well over market cycles. The subadviser is value oriented and makes decisions to purchase and sell individual securities and instruments after performing a risk/reward analysis that includes an evaluation of interest rate risk, credit risk, duration, liquidity, legal provisions and </span><span style="color:#000000;font-family:Arial;font-size:10pt;">the structure of the transaction. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund may invest in derivatives, such as futures contracts. With respect to its fixed income allocations, the Fund may use futures contracts to manage and hedge interest rate risk associated with these investments, as well as to lengthen or shorten the duration of this portion </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">of the portfolio. With respect to its equity and fixed income allocations, the Fund may use futures contracts to gain or reduce exposure to all or a portion of the stock or fixed </span><span style="color:#000000;font-family:Arial;font-size:10pt;">income markets, respectively, and for cash management. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">In order to generate additional income, the Fund may lend portfolio securities to broker-dealers and other financial institutions provided that the value of the loaned securities does not exceed 30% of the Fund’s total assets. These loans earn income for the Fund and are collateralized by cash and securities issued or guaranteed by the U.S. </span><span style="color:#000000;font-family:Arial;font-size:10pt;">Government or its agencies or instrumentalities.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;">Shares of the Fund are not bank deposits and </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">are not guaranteed or insured by any bank, government entity or the Federal Deposit Insurance Corporation.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;"> If the </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">value of the assets of the Fund goes down, you could lose </span><span style="color:#000000;font-family:Arial;font-size:10pt;">money.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Equity Securities Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The Fund’s investments in equity </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">securities are subject to the risk that stock prices will fall and may underperform other asset classes. Individual stock prices fluctuate from day-to-day and may decline significantly. The prices of individual stocks may be negatively affected by poor company results or other factors affecting individual prices, as well as industry and/or economic trends and developments affecting industries </span><span style="color:#000000;font-family:Arial;font-size:10pt;">or the securities market as a whole.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Large-Cap Companies Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Investing primarily in large-cap</span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;"> companies carries the risk that due to current market conditions these companies may be out of favor with investors. Large-cap companies may be unable to respond quickly to new competitive challenges or attain the high growth rate of successful smaller companies. Larger, more established companies may be unable to respond quickly to new competitive challenges, such as changes in technology and consumer tastes. Larger companies also may not be able to attain the high growth rate of successful smaller companies, particularly during </span><span style="color:#000000;font-family:Arial;font-size:10pt;">extended periods of economic expansion.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Mid-Cap Company Risk. </span><span style="color:#000000;font-family:Arial;font-size:10pt;">Investing in mid-cap companies </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">carries the risk that due to current market conditions these companies may be out of favor with investors. Stocks of mid-cap companies may be more volatile than those of </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">larger companies due to, among other reasons, narrower product lines, more limited financial resources and fewer </span><span style="color:#000000;font-family:Arial;font-size:10pt;">experienced managers.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Issuer Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The value of a security may decline for a </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">number of reasons directly related to the issuer, such as management performance, financial leverage and </span><span style="color:#000000;font-family:Arial;font-size:10pt;">reduced demand for the issuer’s goods and services.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Sector Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Companies with similar characteristics may </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">be grouped together in broad categories called sectors. Sector risk is the risk that securities of companies within specific sectors of the economy can perform differently than the overall market. This may be due to changes in such things as the regulatory or competitive environment or to changes in investor perceptions regarding a sector. Because the Fund may allocate relatively more assets to certain sectors than others, the Fund’s performance may be more susceptible to any developments which affect </span><span style="color:#000000;font-family:Arial;font-size:10pt;">those sectors emphasized by the Fund.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Dividend-paying Stocks Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> There is no guarantee </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">that the issuers of the stocks held by the Fund will declare dividends in the future or that, if dividends are declared, they will remain at their current levels or increase over time. Dividend-paying stocks may not participate in a broad market advance to the same degree as other stocks, and a sharp rise in interest rates or economic downturn could cause a company to unexpectedly reduce </span><span style="color:#000000;font-family:Arial;font-size:10pt;">or eliminate its dividend.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Mortgage- and Asset-Backed Securities Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Mortgage-backed securities are similar to other debt </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">securities in that they are subject to credit risk and interest rate risk. Mortgage-backed securities may be issued or guaranteed by the U.S. Government, its agencies or instrumentalities or may be non-guaranteed securities issued by private issuers. These securities are also subject to the risk that issuers will prepay the principal more quickly or more slowly than expected, which could cause the Fund to invest the proceeds in less attractive investments or increase the volatility of their prices. CMOs, which are a type of mortgage-backed security, may be less liquid and may exhibit greater price volatility than other types of mortgage- and asset-backed </span><span style="color:#000000;font-family:Arial;font-size:10pt;">securities. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">Asset-backed securities are bonds or notes that are normally supported by a specific property. If the issuer fails to pay the interest or return the principal when the bond matures, then the issuer must give the property to the bondholders or noteholders. Examples of assets supporting asset-backed securities include credit card receivables, retail installment loans, home equity loans, </span><span style="color:#000000;font-family:Arial;font-size:10pt;">auto loans, and manufactured housing loans.</span> <span style="font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">U.S. Government Obligations Risk.</span><span style="font-family:Arial;font-size:10pt;"> U.S. Treasury </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">obligations are backed by the “full faith and credit” of the U.S. Government and are generally considered to have low credit risk. Unlike U.S. Treasury obligations, securities issued or guaranteed by federal agencies or authorities and U.S. Government-sponsored instrumentalities or enterprises, including </span><span style="font-family:Arial;font-size:10pt;">the Federal National Mortgage </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">Association</span><span style="font-family:Arial;font-size:10pt;"> and the Federal Home Loan Mortgage </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">Corporation</span><span style="font-family:Arial;font-size:10pt;">, may or may not be backed by the full faith </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">and credit of the U.S. Government and are therefore subject to greater credit risk than securities issued or </span><span style="font-family:Arial;font-size:10pt;">guaranteed by the U.S. Treasury.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Foreign Investment Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Investment in foreign </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">securities involves risks due to several factors, such as illiquidity, the lack of public information, changes in the exchange rates between foreign currencies and the U.S. dollar, unfavorable political, social and legal developments, or economic and financial instability. Foreign companies are not subject to the U.S. accounting and financial reporting standards and may have riskier settlement procedures. U.S. investments that are denominated in foreign currencies or that are traded in foreign markets, or securities of U.S. companies that have significant foreign operations may be subject to foreign </span><span style="color:#000000;font-family:Arial;font-size:10pt;">investment risk.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Foreign Sovereign Debt Risk. </span><span style="color:#000000;font-family:Arial;font-size:10pt;">Foreign sovereign debt </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">securities are subject to the risk that a governmental entity may delay or refuse to pay interest or to repay principal on its sovereign debt, due, for example, to cash flow problems, insufficient foreign currency reserves, political, social and economic considerations, the relative size of the governmental entity’s debt position in relation to the economy or the failure to put in place economic reforms required by the International Monetary Fund or other multilateral agencies. If a governmental entity defaults, it </span><span style="color:#000000;font-family:Arial;font-size:10pt;">may ask for more time in which to pay or for further loans.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Interest Rate Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Fixed income securities may be </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">subject to volatility due to changes in interest rates. The value of fixed-income securities may decline when interest rates go up or increase when interest rates go down. The interest earned on fixed-income securities may decline when interest rates go down or increase when interest rates go up. Duration is a measure of interest rate risk that indicates how price-sensitive a bond is to changes in interest rates. Longer-term and lower coupon bonds tend to be more sensitive to changes in interest rates. For example, a bond with a duration of three years will decrease in value by approximately 3% if interest rates increase by 1%. Changing interest rates may have unpredictable effects on markets, may result in heightened market volatility, and could negatively impact </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">the </span><span style="font-family:Arial;font-size:10pt;">Fund’s performance. Any future changes in monetary </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">policy made by central banks and/or their governments </span><span style="font-family:Arial;font-size:10pt;">are likely to affect the level of interest rates.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Credit Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The issuer of a fixed income security owned </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">by the Fund may be unable to make interest or principal </span><span style="color:#000000;font-family:Arial;font-size:10pt;">payments.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Call or Prepayment Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> During periods of falling </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">interest rates, a bond issuer may “call” a bond to repay it before its maturity date. The Fund may only be able to invest the bond’s proceeds at lower interest rates, </span><span style="color:#000000;font-family:Arial;font-size:10pt;">resulting in a decline in the Fund’s income.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Management Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The investment style or strategy used </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">by a subadviser may fail to produce the intended result. A subadviser’s assessment of a particular security or company may prove incorrect, resulting in losses or </span><span style="color:#000000;font-family:Arial;font-size:10pt;">underperformance.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Market Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The Fund’s share price can fall because of </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">weakness in the broad market, a particular industry, or specific holdings or due to adverse social, political or economic developments here or abroad, changes in investor psychology, technological disruptions, or heavy institutional selling and other conditions or events (including, for example, military confrontations, war, terrorism, trade wars, disease/virus outbreaks and epidemics). The prices of individual securities may fluctuate, sometimes dramatically, from day to day. The prices of stocks and other equity securities tend to be </span><span style="color:#000000;font-family:Arial;font-size:10pt;">more volatile than those of fixed-income securities.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Derivatives Risk. </span><span style="color:#000000;font-family:Arial;font-size:10pt;">The prices of derivatives may move in </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">unexpected ways due to the use of leverage and other factors and may result in increased volatility or losses. The Fund may not be able to terminate or sell derivative positions, and a liquid secondary market may not always </span><span style="color:#000000;font-family:Arial;font-size:10pt;">exist for derivative positions.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Futures Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Futures are contracts involving the right to </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">receive or the obligation to deliver assets or money depending on the performance of one or more underlying assets, instruments or a market or economic index. A futures contract is an exchange-traded legal contract to buy or sell a standard quantity and quality of a commodity, financial instrument, index, etc. at a specified future date and price. A futures contract is considered a derivative because it derives its value from the price of the underlying commodity, security or financial index. The prices of futures contracts can be volatile and futures contracts may lack liquidity. In addition, there may be imperfect or even negative correlation between the price of a futures contract and the price of the underlying </span><span style="color:#000000;font-family:Arial;font-size:10pt;">commodity, security or financial index.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Active Trading Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> High portfolio turnover rates that </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">are associated with active trading may result in higher transaction costs, which can adversely affect the Fund’s performance. Active trading tends to be more pronounced </span><span style="color:#000000;font-family:Arial;font-size:10pt;">during periods of increased market volatility.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Securities Lending Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Engaging in securities lending </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">could increase the market and credit risk for Fund investments. The Fund may lose money if it does not recover borrowed securities, the value of the collateral falls, or the value of investments made with cash collateral declines. The Fund’s loans will be collateralized by securities issued or guaranteed by the U.S. Government or its agencies and instrumentalities, which subjects the Fund to the credit risk of the U.S. Government or the issuing federal agency or instrumentality. If the value of either the cash collateral or the Fund’s investments of the cash collateral falls below the amount owed to a borrower, the Fund also may incur losses that exceed the amount it earned on lending the security. Securities lending also involves the risks of delay in receiving additional collateral or possible loss of rights in the collateral if the borrower fails. Another risk of securities lending is the risk that the loaned portfolio securities may not be available to the Fund on a timely basis and the Fund may therefore lose </span><span style="color:#000000;font-family:Arial;font-size:10pt;">the opportunity to sell the securities at a desirable price.</span> <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Performance Information</span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">The below bar chart and table illustrate the risks of investing in the Fund by showing changes in the Fund’s performance from calendar year to calendar year and comparing the Fund’s average annual returns to those of the S&amp;P 500</span><span style="font-family:Arial;font-size:6.5pt;position:relative;top:-3.25pt;">®</span><span style="font-family:Arial;font-size:10pt;"> Index (a broad-based securities market </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">index) and a blended index. The blended index is comprised of 60% S&amp;P 500</span><span style="font-family:Arial;font-size:6.5pt;position:relative;top:-3.25pt;">®</span><span style="font-family:Arial;font-size:10pt;"> Index and 40% Bloomberg </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">U.S. Aggregate Bond Index (the “Blended Index”).  The Blended Index is relevant to the Fund because it has characteristics similar to the Fund’s investment strategies.</span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">Fees and expenses incurred at the contract level are not reflected in the bar chart or table. If these amounts were reflected, returns would be less than those shown. </span><span style="font-family:Arial;font-size:10pt;">Of </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">course, past performance of the Fund is not necessarily </span><span style="font-family:Arial;font-size:10pt;">an indication of how the Fund will perform in the future.</span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">The Fund’s returns prior to January 11, 2021, as reflected in the </span><span style="font-family:Arial;font-size:10pt;">bar chart and table, are the returns of the Fund </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">when it followed different investment strategies. J.P. Morgan Investment Management Inc. (“JPMIM”) assumed subadvisory responsibility for the Fund effective January 11, 2021. Prior to that, PineBridge Investments </span><span style="font-family:Arial;font-size:10pt;">LLC served as subadviser to the Fund.   </span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">The below bar chart and table illustrate the risks of investing in the Fund by showing changes in the Fund’s performance from calendar year to calendar year and comparing the Fund’s average annual returns to those of the S&amp;P 500</span><span style="font-family:Arial;font-size:6.5pt;position:relative;top:-3.25pt;">®</span><span style="font-family:Arial;font-size:10pt;"> Index (a broad-based securities market </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">index) and a blended index. The blended index is comprised of 60% S&amp;P 500</span><span style="font-family:Arial;font-size:6.5pt;position:relative;top:-3.25pt;">®</span><span style="font-family:Arial;font-size:10pt;"> Index and 40% Bloomberg </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">U.S. Aggregate Bond Index (the “Blended Index”).  The Blended Index is relevant to the Fund because it has characteristics similar to the Fund’s investment strategies.</span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">Fees and expenses incurred at the contract level are not reflected in the bar chart or table. If these amounts were reflected, returns would be less than those shown. </span> <span style="font-family:Arial;font-size:10pt;">Of </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">course, past performance of the Fund is not necessarily </span><span style="font-family:Arial;font-size:10pt;">an indication of how the Fund will perform in the future.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;">During the period shown in the bar chart:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Highest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">December 31, 2020</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">12.72%</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Lowest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">March 31, 2020</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">-17.48%</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Year to Date Most </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Recent Quarter:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">June 30, 2026</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">3.06%</span> <span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Highest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span> 2020-12-31 0.1272 <span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Lowest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span> 2020-03-31 -0.1748 <span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Year to Date Most </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Recent Quarter:</span> 2026-06-30 0.0306 <span style="font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Average Annual Total Returns</span><span style="font-family:Arial;font-size:10pt;"> (For the periods ended December 31, 2025)</span> 0.1150 0.0817 0.0775 0.1788 0.1442 0.1482 0.1370 0.0847 0.0978 <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Investment Objective</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund seeks long-term capital appreciation by investing primarily in a broadly diversified portfolio of </span><span style="color:#000000;font-family:Arial;font-size:10pt;">stocks and other equity securities of U.S. companies.</span> <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Fees and Expenses of the Fund</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">This table describes the fees and expenses that you may pay if you buy, hold and sell shares of the Fund. </span><span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">The table </span><span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">and the example below do not reflect the separate account fees charged in the variable annuity or variable life insurance policy (“Variable Contracts”) in which the Fund is offered.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> If separate account fees were </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">shown, the Fund’s annual operating expenses would be higher. Please see your Variable Contract prospectus for </span><span style="color:#000000;font-family:Arial;font-size:10pt;">more details on the separate account fees.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;text-decoration:underline;">Annual Fund Operating Expenses</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> (expenses that you </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">pay each year as a percentage of the value of your </span><span style="color:#000000;font-family:Arial;font-size:10pt;">investment)</span> 0.0055 0.0013 0.0068 <span style="color:#000000;font-family:Arial;font-size:10pt;font-style:italic;font-weight:bold;text-decoration:underline;">Expense Example</span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem or hold all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same (except that the Example incorporates any applicable fee waiver and/or expense limitation arrangements for only the first year). The Example does not reflect charges imposed by the Variable Contract. If the </span><span style="font-family:Arial;font-size:10pt;">separate account fees were reflected, the </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">expenses would be higher. See the Variable Contract prospectus for information on such charges. Although your actual costs may be higher or lower, based on these assumptions and the net expenses shown in the fee table, </span><span style="font-family:Arial;font-size:10pt;">your costs would be:</span> 69 218 379 847 <span style="color:#000000;font-family:Arial;font-size:10pt;font-style:italic;font-weight:bold;text-decoration:underline;">Portfolio Turnover</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). These costs, which are not reflected in annual fund operating expenses or in the Example, affect the </span><span style="color:#000000;font-family:Arial;font-size:10pt;">Fund’s performance.</span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">During the most recent fiscal year, the  Fund’s portfolio </span><span style="font-family:Arial;font-size:10pt;">turnover rate was </span><span style="font-family:Arial;font-size:10pt;">62%</span><span style="font-family:Arial;font-size:10pt;"> of the average value of its portfolio.</span> 0.62 <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Principal Investment Strategies of the Fund</span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">The Fund invests in equity securities of large-sized U.S. companies similar in size, at the time of purchase, to those within the Russell 1000</span><span style="font-family:Arial;font-size:6.5pt;position:relative;top:-3.25pt;">®</span><span style="font-family:Arial;font-size:10pt;"> Growth Index (the “Index”). As of August 31, 2026, the median stock by market </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">capitalization in the Index was approximately $</span><span style="font-family:Arial;font-size:10pt;">27.208</span><span style="font-family:Arial;font-size:10pt;line-height:12pt;"> </span><span style="font-family:Arial;font-size:10pt;">million and the largest stock by market </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">capitalization was $</span><span style="font-family:Arial;font-size:10pt;">5.36 trillion. The size of the companies </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">in the Index changes with market conditions and the </span><span style="font-family:Arial;font-size:10pt;">composition of the Index. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund invests substantially in “growth” stocks, which are stocks of companies with long-term earnings growth potential.</span><span style="color:#000000;font-family:Arial;font-size:10pt;">The Fund’s portfolio managers seek to invest in </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">growth companies that are undervalued relative to their fundamentals and exhibit improving investor interest, such as positive price momentum, believing that such investments can outperform the equity market over a full market cycle, which can be measured from market peak to peak or from market trough to trough.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The Fund invests </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">substantially in securities of U.S. issuers. The Fund </span><span style="color:#000000;font-family:Arial;font-size:10pt;">generally invests in common stocks. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">From time to time, the Fund may have significant investments in particular sectors, including the </span><span style="color:#000000;font-family:Arial;font-size:10pt;">information technology sector. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">In pursuit of the Fund’s objective, the subadviser employs fundamental and quantitative analysis with risk management analysis in identifying investment </span><span style="color:#000000;font-family:Arial;font-size:10pt;">opportunities and constructing the Fund’s portfolio. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">In order to generate additional income, the Fund may lend portfolio securities to broker-dealers and other financial institutions provided that the value of the loaned securities does not exceed 30% of the Fund’s total assets. These loans earn income for the Fund and are collateralized by cash and securities issued or guaranteed by the U.S. </span><span style="color:#000000;font-family:Arial;font-size:10pt;">Government or its agencies or instrumentalities.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund invests substantially in “growth” stocks, which are stocks of companies with long-term earnings growth potential.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;">The Fund’s portfolio managers seek to invest in </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">growth companies that are undervalued relative to their fundamentals and exhibit improving investor interest, such as positive price momentum, believing that such investments can outperform the equity market over a full market cycle, which can be measured from market peak to peak or from market trough to trough.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;">Shares of the Fund are not bank deposits and </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">are not guaranteed or insured by any bank, government entity or the Federal Deposit Insurance Corporation.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;"> If the </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">value of the assets of the Fund goes down, you could lose </span><span style="color:#000000;font-family:Arial;font-size:10pt;">money.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Management Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The investment style or strategy used </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">by the Fund may fail to produce the intended result. A subadviser’s assessment of a particular security or company may prove incorrect, resulting in losses or </span><span style="color:#000000;font-family:Arial;font-size:10pt;">underperformance.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Equity Securities Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The Fund’s investments in equity </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">securities are subject to the risk that stock prices will fall and may underperform other asset classes. Individual stock prices fluctuate from day-to-day and may decline significantly. The prices of individual stocks may be negatively affected by poor company results or other factors affecting individual prices, as well as industry and/or economic trends and developments affecting industries </span><span style="color:#000000;font-family:Arial;font-size:10pt;">or the securities market as a whole.</span> <span style="font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Growth Style Risk.</span><span style="font-family:Arial;font-size:10pt;"> Generally, “growth” stocks are stocks </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">of companies that </span><span style="font-family:Arial;font-size:10pt;">have anticipated earnings ranging from </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">steady to accelerated growth. Many investors buy growth stocks because of anticipated superior earnings growth, but earnings disappointments often result in sharp price declines. Growth companies usually invest a high portion of earnings in their own businesses so their stocks may lack the dividends that can cushion share prices in a down market. In addition, the value of growth stocks may be more sensitive to changes in current or expected earnings than the value of other stocks, because growth stocks </span><span style="font-family:Arial;font-size:10pt;">trade at higher prices relative to current earnings.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Large-Cap Companies Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Investing primarily in large-cap</span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;"> companies carries the risk that due to current market conditions these companies may be out of favor with investors. Large-cap companies may be unable to respond quickly to new competitive challenges or attain the high growth rate of successful smaller companies. Larger, more established companies may be unable to respond quickly to new competitive challenges, such as changes in technology and consumer tastes. Larger companies also may not be able to attain the high growth rate of successful smaller companies, particularly during </span><span style="color:#000000;font-family:Arial;font-size:10pt;">extended periods of economic expansion.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Market Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The Fund’s share price can fall because of </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">weakness in the broad market, a particular industry, or specific holdings or due to adverse social, political or economic developments here or abroad, changes in investor psychology, technological disruptions, or heavy institutional selling and other conditions or events (including, for example, military confrontations, war, terrorism, trade wars, disease/virus outbreaks and epidemics). The prices of individual securities may fluctuate, sometimes dramatically, from day to day. The </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">prices of stocks and other equity securities tend to be </span><span style="color:#000000;font-family:Arial;font-size:10pt;">more volatile than those of fixed-income securities.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Technology Sector Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Technology stocks historically </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">have experienced unusually wide price swings. Earnings disappointments and intense competition for market share can result in sharp declines in the prices of technology </span><span style="color:#000000;font-family:Arial;font-size:10pt;">stocks.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Sector Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Companies with similar characteristics may </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">be grouped together in broad categories called sectors. Sector risk is the risk that securities of companies within specific sectors of the economy can perform differently than the overall market. This may be due to changes in such things as the regulatory or competitive environment or to changes in investor perceptions regarding a sector. Because the Fund may allocate relatively more assets to certain sectors than others, the Fund’s performance may be more susceptible to any developments which affect </span><span style="color:#000000;font-family:Arial;font-size:10pt;">those sectors emphasized by the Fund.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Securities Lending Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Engaging in securities lending </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">could increase the market and credit risk for Fund investments. The Fund may lose money if it does not recover borrowed securities, the value of the collateral falls, or the value of investments made with cash collateral declines. The Fund’s loans will be collateralized by securities issued or guaranteed by the U.S. Government or its agencies and instrumentalities, which subjects the Fund to the credit risk of the U.S. Government or the issuing federal agency or instrumentality. If the value of either the cash collateral or the Fund’s investments of the cash collateral falls below the amount owed to a borrower, the Fund also may incur losses that exceed the amount it earned on lending the security. Securities lending also involves the risks of delay in receiving additional collateral or possible loss of rights in the collateral if the borrower fails. Another risk of securities lending is the risk that the loaned portfolio securities may not be available to the Fund on a timely basis and the Fund may therefore lose </span><span style="color:#000000;font-family:Arial;font-size:10pt;">the opportunity to sell the securities at a desirable price.</span> <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Performance Information</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">As a result of a reorganization which occurred on May 24, 2021 (the “Reorganization”), the Fund acquired all of the assets and liabilities of the Capital Appreciation Fund (the “Predecessor Fund”), a series of VALIC Company II. The returns presented for the Fund reflect the performance of the Predecessor Fund. The Fund had not yet commenced operations prior to the Reorganization. The performance information below is based on the performance of the Predecessor Fund for periods prior to the date of the Reorganization. The Fund and the Predecessor Fund had </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">substantially similar investment objectives and strategies and had the same portfolio management team as of the </span><span style="color:#000000;font-family:Arial;font-size:10pt;">date of the Reorganization. </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">The below bar chart and table illustrate the risks of investing in the Fund by showing changes in the Fund’s performance from calendar year to calendar year and comparing the Fund’s average annual returns to those of the S&amp;P 500</span><span style="font-family:Arial;font-size:6.5pt;position:relative;top:-3.25pt;">®</span><span style="font-family:Arial;font-size:10pt;"> Index (a broad-based securities market </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">index) and the Russell 1000</span><span style="font-family:Arial;font-size:6.5pt;position:relative;top:-3.25pt;">®</span><span style="font-family:Arial;font-size:10pt;"> Growth Index, which is </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">relevant to the Fund because it has characteristics similar to the Fund’s investment strategies.</span><span style="font-family:Arial;font-size:10pt;"> Fees and expenses </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">incurred at the contract level are not reflected in the bar chart or table. If these amounts were reflected, returns would be less than those shown. </span><span style="font-family:Arial;font-size:10pt;">Of course, past </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">performance of the Fund is not necessarily an indication </span><span style="font-family:Arial;font-size:10pt;">of how the Fund will perform in the future.</span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">Columbia Management Investment Advisers, LLC (“Columbia”) assumed subadvisory responsibility for the Fund effective December 16, 2021. Prior to that, BMO Asset Management Corp. served as subadviser, beginning on June 7, 2018. From December 5, 2011 through June 6, 2018, BNY Mellon Asset Management North America Corporation (formerly known as The Boston Company Asset Management, LLC) served as </span><span style="font-family:Arial;font-size:10pt;">subadviser to the Predecessor Fund. </span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">The below bar chart and table illustrate the risks of investing in the Fund by showing changes in the Fund’s performance from calendar year to calendar year and comparing the Fund’s average annual returns to those of the S&amp;P 500</span><span style="font-family:Arial;font-size:6.5pt;position:relative;top:-3.25pt;">®</span><span style="font-family:Arial;font-size:10pt;"> Index (a broad-based securities market </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">index) and the Russell 1000</span><span style="font-family:Arial;font-size:6.5pt;position:relative;top:-3.25pt;">®</span><span style="font-family:Arial;font-size:10pt;"> Growth Index, which is </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">relevant to the Fund because it has characteristics similar to the Fund’s investment strategies.</span> <span style="font-family:Arial;font-size:10pt;"> Fees and expenses </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">incurred at the contract level are not reflected in the bar chart or table. If these amounts were reflected, returns would be less than those shown. </span> <span style="font-family:Arial;font-size:10pt;">Of course, past </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">performance of the Fund is not necessarily an indication </span><span style="font-family:Arial;font-size:10pt;">of how the Fund will perform in the future.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;">During the period shown in the bar chart:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Highest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">June 30, 2020</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">24.11%</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Lowest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">June 30, 2022</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">-18.27%</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Year to Date Most </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Recent Quarter:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">June 30, 2026</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">6.91%</span> <span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Highest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span> 2020-06-30 0.2411 <span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Lowest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span> 2022-06-30 -0.1827 <span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Year to Date Most </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Recent Quarter:</span> 2026-06-30 0.0691 <span style="font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Average Annual Total Returns</span><span style="font-family:Arial;font-size:10pt;"> (For the periods ended December 31, 2025)</span> 0.1419 0.1469 0.1533 0.1788 0.1442 0.1482 0.1856 0.1532 0.1813 <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Investment Objective</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund seeks current income and low to moderate </span><span style="color:#000000;font-family:Arial;font-size:10pt;">growth of capital.</span> <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Fees and Expenses of the Fund</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">This table describes the fees and expenses that you may pay if you buy, hold and sell shares of the Fund. </span><span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">The table </span><span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">and the example below do not reflect the separate account fees charged in the variable annuity or variable life insurance policy (“Variable Contracts”) in which the Fund is offered.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> As an investor in the Fund, </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">you pay the expenses of the Fund and indirectly pay a proportionate share of the expenses of the Underlying Funds. If separate account fees were shown, the Fund’s annual operating expenses would be higher. Please see your Variable Contract prospectus for more details on the </span><span style="color:#000000;font-family:Arial;font-size:10pt;">separate account fees.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;text-decoration:underline;">Annual Fund Operating Expenses</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> (expenses that you </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">pay each year as a percentage of the value of your </span><span style="color:#000000;font-family:Arial;font-size:10pt;">investment)</span> 0.0010 0.0006 0.0047 0.0063 -0.0003 0.0060 <span style="color:#000000;font-family:Arial;font-size:8pt;">The Total Annual Fund Operating Expenses for the Fund do not correlate to the ratio of net expenses to average net assets provided in the Financial Highlights table of the Fund’s annual report, which reflects the net operating expenses of the Fund and does not include Acquired Fund Fees and Expenses.</span> <span style="font-family:Arial;font-size:8pt;">September 30, 2027</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-style:italic;font-weight:bold;text-decoration:underline;">Expense Example</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem or hold all of your shares at the end of those periods. The Example also assumes that your investment </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">has a 5% return each year and that the Fund’s operating expenses remain the same (except that the Example incorporates any applicable fee waiver and/or expense limitation arrangements for only the first year). The Example does not reflect charges imposed by the Variable Contract. If the </span><span style="font-family:Arial;font-size:10pt;">separate account fees were reflected, the </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">expenses would be higher. See the Variable Contract prospectus for information on such charges. Although your actual costs may be higher or lower, based on these assumptions and the net expenses shown in the fee table, </span><span style="font-family:Arial;font-size:10pt;">your costs would be:</span> 61 199 348 783 <span style="color:#000000;font-family:Arial;font-size:10pt;font-style:italic;font-weight:bold;text-decoration:underline;">Portfolio Turnover</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund, which operates as a fund-of-funds, does not pay transaction costs when it buys and sells shares of the Underlying Funds (or “turns over” its portfolio). An Underlying Fund pays transaction costs, such as commissions, when it turns over its portfolio and a higher portfolio turnover rate may indicate higher transaction costs. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the </span><span style="color:#000000;font-family:Arial;font-size:10pt;">performance of both the Underlying Fund and the Fund. </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">During the most recent fiscal year, the Fund’s portfolio turnover rate was </span><span style="font-family:Arial;font-size:10pt;">17</span><span style="font-family:Arial;font-size:10pt;">% of the average value of the </span><span style="font-family:Arial;font-size:10pt;">portfolio.</span> 0.17 <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Principal Investment Strategies of the Fund</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">As a fund-of-funds, the Fund’s principal investment strategy is to allocate assets among a combination of mutual funds (“Underlying Funds”) that, in turn, invest directly in a wide range of portfolio securities (like stocks and bonds). The Fund invests a larger portion of its assets in Underlying Funds that invest in securities that generate current income, and generally has a lower risk level than the Aggressive Allocation Lifestyle Fund and Moderate </span><span style="color:#000000;font-family:Arial;font-size:10pt;">Allocation Lifestyle Fund. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund’s indirect holdings are primarily in fixed-income securities of domestic and foreign issuers and in equity securities of domestic companies. The Underlying Funds also invest, to a limited extent, in equity securities of foreign issuers, lower rated fixed-income securities (often referred to as “junk bonds”), and money market securities. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">Asset allocation is the most critical investment decision that you make as an investor. Selecting the appropriate combination should be based on your personal investment </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">goals, time horizons and risk tolerance. The projected </span><span style="color:#000000;font-family:Arial;font-size:10pt;">asset allocation ranges for the Fund are as follows:</span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0.0pt;">•</span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0.0pt;">Domestic Equity Funds</span><span style="color:#000000;font-family:Arial;font-size:10pt;">10% - 40%</span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0.0pt;">•</span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0.0pt;">Fixed-Income Funds</span><span style="color:#000000;font-family:Arial;font-size:10pt;">55% - 90%</span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0.0pt;">•</span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0.0pt;">International Equity Funds</span><span style="color:#000000;font-family:Arial;font-size:10pt;">0% - 20%</span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">This Fund is managed so that it can serve as a complete investment program for you or as a core part of your larger </span><span style="color:#000000;font-family:Arial;font-size:10pt;">portfolio. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">Although the Fund will generally maintain its assets within the allocations above, the Fund may hold cash or cash equivalents for various purposes, including for temporary </span><span style="color:#000000;font-family:Arial;font-size:10pt;">defensive purposes. </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">The Underlying Funds have been selected to represent a reasonable spectrum of investment options for the Fund. The subadviser has based the target investment percentages for the Fund on the degree to which it believes the Underlying Funds, in combination, to be appropriate for the Fund’s investment objective. The subadviser may change the asset allocation ranges from time to time. In selecting Underlying Funds, the subadviser may choose from other series of VALIC Company I and from unaffiliated money market funds that VALIC has designated available for investment for the Fund. The Underlying Funds </span><span style="font-family:Arial;font-size:10pt;">include funds subadvised by </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">the subadviser. Consistent with the Fund’s objective and strategies, the subadviser is permitted to invest in Underlying Funds it subadvises. When choosing among potential Underlying Funds, the subadviser faces a conflict of interest because it will receive additional fees when it selects Underlying Funds for which it also acts as subadviser. Please refer to the Fund’s </span><span style="font-family:Arial;font-size:10pt;">Statement of </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">Additional Information</span><span style="font-family:Arial;font-size:10pt;"> for more information on the subadviser’s conflicts of interest. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Underlying Funds in which the Fund invests may engage in active and frequent trading of portfolio securities in an effort to achieve their investment </span><span style="color:#000000;font-family:Arial;font-size:10pt;">objectives.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;">Shares of the Fund are not bank deposits and </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">are not guaranteed or insured by any bank, government entity or the Federal Deposit Insurance Corporation.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;"> If the </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">value of the assets of the Fund goes down, you could lose </span><span style="color:#000000;font-family:Arial;font-size:10pt;">money.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Active Trading Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The Underlying Funds may actively </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">trade, which is associated with high portfolio turnover rates and which may result in higher transaction costs to the Underlying Funds. High portfolio turnover rates of the Underlying Funds can adversely affect the Fund’s performance. Active trading tends to be more pronounced </span><span style="color:#000000;font-family:Arial;font-size:10pt;">during periods of increased market volatility.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Affiliated Fund Risk. </span><span style="color:#000000;font-family:Arial;font-size:10pt;">The subadviser is subject to </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">conflicts of interest in the selection and allocation of the Fund’s assets among Underlying Funds. The subadviser serves as subadviser to certain Underlying Funds in which the Fund may invest. The subadviser will receive more revenue when it selects an Underlying Fund it subadvises </span><span style="color:#000000;font-family:Arial;font-size:10pt;">for inclusion in the Fund’s portfolio.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Call or Prepayment Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> During periods of falling </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">interest rates, a bond issuer may “call” a bond to repay it before its maturity date. An Underlying Fund may only be able to invest the bond’s proceeds at lower interest rates, </span><span style="color:#000000;font-family:Arial;font-size:10pt;">resulting in a decline in the Underlying Fund’s income.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Credit Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The Fund may suffer losses if the issuer of </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">a fixed-income security owned by an Underlying Fund is </span><span style="color:#000000;font-family:Arial;font-size:10pt;">unable to make interest or principal payments.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Equity Securities Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The Underlying Funds may </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">invest in equity securities, which are subject to the risk that stock prices will fall and may underperform other asset classes. Individual stock prices fluctuate from day-to-day and may decline significantly. The prices of individual stocks may be negatively affected by poor company results or other factors affecting individual prices, as well as industry and/or economic trends and developments </span><span style="color:#000000;font-family:Arial;font-size:10pt;">affecting industries or the securities market as a whole.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Foreign Investment Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The Underlying Funds may </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">invest in foreign securities. Investment in foreign securities involves risks due to several factors, such as illiquidity, the lack of public information, changes in the exchange rates between foreign currencies and the U.S. dollar, unfavorable political, social and legal developments, or economic and financial instability. Foreign companies are not subject to the U.S. accounting and financial reporting standards and may have riskier settlement procedures. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">U.S. investments that are denominated in foreign currencies or that are traded in foreign markets, or securities of U.S. companies that have significant foreign </span><span style="color:#000000;font-family:Arial;font-size:10pt;">operations may be subject to foreign investment risk.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Interest Rate Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The Underlying Funds may invest in </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">fixed-income securities. Fixed income securities may be subject to volatility due to changes in interest rates. The value of fixed-income securities may decline when interest rates go up or increase when interest rates go down. The interest earned on fixed-income securities may decline when interest rates go down or increase when interest rates go up. Duration is a measure of interest rate risk that indicates how price-sensitive a bond is to changes in interest rates. Longer-term and lower coupon bonds tend to be more sensitive to changes in interest rates. For example, a bond with a duration of three years will decrease in value by approximately 3% if interest rates increase by 1%. Any future changes in monetary policy made by central banks and/or their governments </span><span style="color:#000000;font-family:Arial;font-size:10pt;">are likely to affect the level of interest rates.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Fund-of-Funds Risk. </span><span style="color:#000000;font-family:Arial;font-size:10pt;">The costs of investing in a fund-of-funds,</span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;"> may be higher than the costs of investing in a mutual fund that only invests directly in individual securities. An Underlying Fund may change its investment objective or policies without the Fund’s approval, which could force the Fund to withdraw its investment from such Underlying Fund at a time that is unfavorable to the Fund. In addition, one Underlying Fund may buy the same securities that another Underlying Fund sells. Therefore, the Fund would indirectly bear the costs of these trades </span><span style="color:#000000;font-family:Arial;font-size:10pt;">without accomplishing any investment purpose.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Underlying Funds Risk. </span><span style="color:#000000;font-family:Arial;font-size:10pt;">The risks of the Fund owning </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">the Underlying Funds generally reflect the risks of owning the underlying securities held by the Underlying Funds. Disruptions in the markets for the securities held by the Underlying Funds could result in losses on the Fund’s investment in such securities. The Underlying Funds also have fees that increase their costs versus owning the underlying securities directly. For example, the Fund indirectly pays a portion of the expenses (including management fees and operating expenses) incurred by </span><span style="color:#000000;font-family:Arial;font-size:10pt;">the Underlying Funds.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Junk Bond Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The Underlying Funds may invest in </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">high yielding, high risk fixed-income securities (often referred to as “junk bonds”), which typically involve significantly greater credit risk, market risk and interest rate risk compared to higher rated fixed-income securities. Issuers of junk bonds are less secure financially and their securities are more sensitive to downturns in the economy. The market for junk bonds may not be as liquid as that for </span><span style="color:#000000;font-family:Arial;font-size:10pt;">more highly rated securities.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Large-Cap Companies Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The Underlying Funds may </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">invest in large-cap companies. Investing primarily in large-cap companies carries the risk that due to current market conditions these companies may be out of favor with investors. Large-cap companies may be unable to respond quickly to new competitive challenges or attain the high growth rate of successful smaller companies. Larger, more established companies may be unable to respond quickly to new competitive challenges, such as changes in technology and consumer tastes. Larger companies also may not be able to attain the high growth rate of successful smaller companies, particularly during </span><span style="color:#000000;font-family:Arial;font-size:10pt;">extended periods of economic expansion.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Market Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The share price of the Underlying Funds </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">and, as a result, the share price of the Fund can fall because of weakness in the broad market, a particular industry, or specific holdings or due to adverse social, political or economic developments here or abroad, changes in investor psychology, technological disruptions, or heavy institutional selling and other conditions or events (including, for example, military confrontations, war, terrorism, trade wars, disease/virus outbreaks and epidemics). The prices of individual securities may fluctuate, sometimes dramatically, from day to day. The prices of stocks and other equity securities tend to be </span><span style="color:#000000;font-family:Arial;font-size:10pt;">more volatile than those of fixed-income securities.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Asset Allocation Risk. </span><span style="color:#000000;font-family:Arial;font-size:10pt;">The Fund’s risks will directly </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">correspond to the risks of the Underlying Funds in which it invests. The Fund is subject to the risk that the selection of the Underlying Funds and the allocation and reallocation of the Fund’s assets among the various asset classes and market sectors may not produce the desired </span><span style="color:#000000;font-family:Arial;font-size:10pt;">result.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Mid-Cap Company Risk. </span><span style="color:#000000;font-family:Arial;font-size:10pt;">The Underlying Funds may </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">invest in mid-cap companies. Investing primarily in mid-cap companies carries the risk that due to current market conditions these companies may be out of favor with investors. Stocks of mid-cap companies may be more volatile than those of larger companies due to, among other reasons, narrower product lines, more limited </span><span style="color:#000000;font-family:Arial;font-size:10pt;">financial resources and fewer experienced managers.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Small-Cap Company Risk. </span><span style="color:#000000;font-family:Arial;font-size:10pt;">The Underlying Funds may </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">invest in small-cap companies. Investing in small-cap companies carries the risk that due to current market conditions these companies may be out of favor with investors. Small companies often are in the early stages of development with limited product lines, markets, or financial resources and managements lacking depth and experience, which may cause their stock prices to be more volatile than those of larger companies. Small company stocks may be less liquid yet subject to abrupt or erratic </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">price movements. It may take a substantial period of time before an Underlying Fund realizes a gain on an investment in a small-cap company, if it realizes any gain </span><span style="color:#000000;font-family:Arial;font-size:10pt;">at all.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Underlying Fund Securities Lending Risk</span><span style="color:#000000;font-family:Arial;font-size:10pt;">. Certain </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">Underlying Funds may lend portfolio securities to generate additional income. Engaging in securities lending could increase the market and credit risk for an Underlying Fund’s investments. An Underlying Fund may lose money if it does not recover borrowed securities, the value of the collateral falls, or the value of investments made with cash collateral declines. An Underlying Fund’s loans will be collateralized by securities issued or guaranteed by the U.S. Government or its agencies and instrumentalities, which subjects such Underlying Fund to the credit risk of the U.S. Government or the issuing federal agency or instrumentality. If the value of either the cash collateral or an Underlying Fund’s investments of the cash collateral falls below the amount owed to a borrower, the Underlying Fund also may incur losses that exceed the amount it earned on lending the security. Securities lending also involves the risks of delay in receiving additional collateral or possible loss of rights in the collateral if the borrower fails. Another risk of securities lending is the risk that the loaned portfolio securities may not be available to an Underlying Fund on a timely basis and the Underlying Fund may therefore lose the opportunity to sell the securities at a desirable price. If an Underlying Fund in which the Fund invests incurs losses as a result of its securities lending activities, the value of the Underlying Fund may decrease, which will have an </span><span style="color:#000000;font-family:Arial;font-size:10pt;">adverse effect on the Fund.</span> <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Performance Information</span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">As a result of a reorganization which occurred on May 24, 2021 (the “Reorganization”), the Fund acquired all of the assets and liabilities of the Conservative </span><span style="font-family:Arial;font-size:10pt;">Growth </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">Lifestyle Fund (the “Predecessor Fund”), a series of VALIC Company II. The Fund adopted the performance of the Predecessor Fund as a result of the Reorganization and returns presented for the Fund prior to that date reflect the performance of the Predecessor Fund. The Fund had not yet commenced operations prior to the Reorganization. The performance information below is </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">based on the performance of the Predecessor Fund for periods prior to the date of the Reorganization. The Fund and the Predecessor Fund had substantially similar investment objectives and strategies and had the same portfolio management team as of the date of the </span><span style="color:#000000;font-family:Arial;font-size:10pt;">Reorganization. </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">The below bar chart and table illustrate the risks of investing in the Fund by showing changes in the Fund’s performance from calendar year to calendar year and comparing the Fund’s average annual returns to those of the S&amp;P 500</span><span style="font-family:Arial;font-size:6.5pt;position:relative;top:-3.25pt;">®</span><span style="font-family:Arial;font-size:10pt;"> Index (a broad-based securities market </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">index) and a blended index.  The blended index is comprised of 26% Russell 3000</span><span style="font-family:Arial;font-size:6.5pt;position:relative;top:-3.25pt;">®</span><span style="font-family:Arial;font-size:10pt;"> Index, 9% MSCI EAFE </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">Index (net) and 65% Bloomberg U.S. Aggregate Bond Index (the “Cons Alloc Lifestyle Blended Index”).  The Cons Alloc Lifestyle Blended Index is relevant to the Fund because it has characteristics similar to the Fund’s investment strategies.</span><span style="font-family:Arial;font-size:10pt;"> Fees and expenses incurred at the </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">contract level are not reflected in the bar chart or table. If these amounts were reflected, returns would be less than those shown. </span><span style="font-family:Arial;font-size:10pt;">Of course, past performance of the Fund is </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">not necessarily an indication of how the Fund will perform </span><span style="font-family:Arial;font-size:10pt;">in the future.</span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">J.P. Morgan Investment Management Inc. (“JPMIM”) assumed subadvisory responsibility for the Fund effective September 28, 2022. Prior to that, PineBridge Investments LLC served as subadviser to the Fund and to </span><span style="color:#000000;font-family:Arial;font-size:10pt;">the Predecessor Fund.   </span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">The below bar chart and table illustrate the risks of investing in the Fund by showing changes in the Fund’s performance from calendar year to calendar year and comparing the Fund’s average annual returns to those of the S&amp;P 500</span><span style="font-family:Arial;font-size:6.5pt;position:relative;top:-3.25pt;">®</span><span style="font-family:Arial;font-size:10pt;"> Index (a broad-based securities market </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">index) and a blended index.  The blended index is comprised of 26% Russell 3000</span><span style="font-family:Arial;font-size:6.5pt;position:relative;top:-3.25pt;">®</span><span style="font-family:Arial;font-size:10pt;"> Index, 9% MSCI EAFE </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">Index (net) and 65% Bloomberg U.S. Aggregate Bond Index (the “Cons Alloc Lifestyle Blended Index”).  The Cons Alloc Lifestyle Blended Index is relevant to the Fund because it has characteristics similar to the Fund’s investment strategies.</span> <span style="font-family:Arial;font-size:10pt;"> Fees and expenses incurred at the </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">contract level are not reflected in the bar chart or table. If these amounts were reflected, returns would be less than those shown. </span> <span style="font-family:Arial;font-size:10pt;">Of course, past performance of the Fund is </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">not necessarily an indication of how the Fund will perform </span><span style="font-family:Arial;font-size:10pt;">in the future.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;">During the period shown in the bar chart:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Highest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">June 30, 2020</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">10.18%</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Lowest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">March 31, 2020</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">-11.68%</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Year to Date Most </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Recent Quarter:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">June 30, 2026</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">4.30%</span> <span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Highest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span> 2020-06-30 0.1018 <span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Lowest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span> 2020-03-31 -0.1168 <span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Year to Date Most </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Recent Quarter:</span> 2026-06-30 0.0430 <span style="font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Average Annual Total Returns</span><span style="font-family:Arial;font-size:10pt;"> (For the periods ended December 31, 2025)</span> 0.1179 0.0434 0.0585 0.1788 0.1442 0.1482 0.1196 0.0401 0.0588 <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Investment Objective</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund seeks the highest possible total return consistent with conservation of capital through investments in medium- to high-quality fixed-income </span><span style="color:#000000;font-family:Arial;font-size:10pt;">securities.</span> <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Fees and Expenses of the Fund</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">This table describes the fees and expenses that you may pay if you buy, hold and sell shares of the Fund. </span><span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">The table </span><span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">and the example below do not reflect the separate account fees charged in the variable annuity or variable life insurance policy (“Variable Contracts”) in which the Fund is offered.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> If separate account fees were </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">shown, the Fund’s annual operating expenses would be higher. Please see your Variable Contract prospectus for </span><span style="color:#000000;font-family:Arial;font-size:10pt;">more details on the separate account fees.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;text-decoration:underline;">Annual Fund Operating Expenses</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> (expenses that you </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">pay each year as a percentage of the value of your </span><span style="color:#000000;font-family:Arial;font-size:10pt;">investment)</span> 0.0041 0.0010 0.0051 -0.0003 0.0048 <span style="font-family:Arial;font-size:8pt;">September 30, 2027</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-style:italic;font-weight:bold;text-decoration:underline;">Expense Example</span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem or hold all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same (except that the Example incorporates any applicable fee waiver and/or expense limitation arrangements for only the first year). The Example does not reflect charges imposed by the Variable Contract. If the </span><span style="font-family:Arial;font-size:10pt;">separate account fees were reflected, the </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">expenses would be higher. See the Variable Contract prospectus for information on such charges. Although </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">your actual costs may be higher or lower, based on these assumptions and the net expenses shown in the fee table, </span><span style="color:#000000;font-family:Arial;font-size:10pt;">your costs would be:</span> 49 161 282 638 <span style="color:#000000;font-family:Arial;font-size:10pt;font-style:italic;font-weight:bold;text-decoration:underline;">Portfolio Turnover</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). These costs, which are not reflected in annual fund operating expenses or in the Example, affect the </span><span style="color:#000000;font-family:Arial;font-size:10pt;">Fund’s performance.</span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">During the most recent fiscal year, the Fund’s portfolio </span><span style="font-family:Arial;font-size:10pt;">turnover rate was </span><span style="font-family:Arial;font-size:10pt;">30%</span><span style="font-family:Arial;font-size:10pt;"> of the average value of its portfolio.</span> 0.30 <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Principal Investment Strategies of the Fund</span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">The Fund invests, under normal circumstances, at least 80% of its net assets in fixed-income securities.</span><span style="font-family:Arial;font-size:10pt;">The Fund </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">primarily invests in medium- to high-quality fixed-income securities, including corporate debt securities of domestic and foreign companies, or in securities issued or guaranteed by the U.S. Government such as treasury obligations, including treasury coupon strips and treasury principal strips, and other U.S. Government securities, mortgage-related and mortgage-backed or non-mortgage </span><span style="font-family:Arial;font-size:10pt;">asset-backed securities.</span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">The Fund may invest significantly in U.S. Government securities, which are securities issued or guaranteed by the U.S. Government, its agencies and instrumentalities. Some U.S. Government securities are issued or unconditionally guaranteed by the U.S. Treasury. While these securities are subject to variations in market value due to fluctuations in interest rates, they will be paid in full if held to maturity. Other U.S. Government securities are neither direct obligations of, nor guaranteed by, the U.S. Treasury. However, they involve federal sponsorship in one </span><span style="font-family:Arial;font-size:10pt;">way or another.  </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">The Fund </span><span style="font-family:Arial;font-size:10pt;">may invest a significant portion or all of its </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">assets in mortgage-related and mortgage-backed securities at the subadviser’s discretion, including securities issued or guaranteed by the Federal National Mortgage Association (“FNMA”), the Federal Home Loan Mortgage Corporation (“FHLMC”) or the Government National Mortgage Association. Mortgage-related and mortgage-backed securities may be structured as collateralized mortgage obligations (agency and non</span><span style="font-family:Arial;font-size:10pt;">-agency),</span><span style="font-family:Arial;font-size:10pt;margin-left:0%;"> stripped mortgage-backed securities, commercial mortgage-backed securities, mortgage pass-through securities and cash and cash equivalents. These </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">securities may be structured such that payments consist of interest-only (IO), principal-only (PO) or principal and </span><span style="color:#000000;font-family:Arial;font-size:10pt;">interest.</span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">Up to 40% of the Fund’s total assets may be invested in U.S. dollar-denominated fixed-income securities issued by foreign issuers, including fixed-income securities issued by issuers in emerging markets. Emerging market countries are countries that major international financial institutions and financial organizations, such as the World Bank and Bloomberg, generally consider to be less economically mature than developed nations, and include most countries in the world except Australia, Canada, Japan, New Zealand, the U.S., the United Kingdom and most western European countries and Hong Kong. These fixed-income securities are rated investment grade or higher at the time of investment (or the unrated equivalent). However, the subadvisers are not required to </span><span style="color:#000000;font-family:Arial;font-size:10pt;">dispose of a security if its rating is downgraded. </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">Although the Fund invests primarily in medium-to high-quality fixed-income securities, which are considered investment-grade, up to 20% of its net assets may be invested in lower-quality fixed-income securities (often referred to as “junk bonds”), including “sub-prime mortgages,” which are considered below investment-grade. A fixed-income security will be considered investment-grade if it is rated Baa3 or higher by Moody’s Investor Services, Inc. or BBB- or higher by S&amp;P Global Ratings or determined to be of comparable quality by the subadviser. The Fund expects to invest no more than 10% of its assets in “sub-prime” mortgage-related securities at </span><span style="font-family:Arial;font-size:10pt;">the time of purchase. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">Up to 20% of the Fund’s net assets may be invested in interest-bearing short-term investments, such as commercial paper, bankers’ acceptances, bank certificates of deposit, and other cash equivalents and </span><span style="color:#000000;font-family:Arial;font-size:10pt;">cash. </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">One subadviser’s</span><span style="font-family:Arial;font-size:10pt;"> investment strategy relies on many </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">short-term factors, including current information about a company, investor interest, price movements of a company’s securities and general market and monetary </span><span style="font-family:Arial;font-size:10pt;">conditions. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The other subadviser buys and sells securities and investments for the Fund based on its view of individual securities and market sectors. Taking a long-term approach, the subadviser looks for individual fixed income investments that it believes will perform well over market cycles. The subadviser is value oriented and makes decisions to purchase and sell individual securities and </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">instruments after performing a risk/reward analysis that includes an evaluation of interest rate risk, credit risk, duration, liquidity, legal provisions and the structure of the </span><span style="color:#000000;font-family:Arial;font-size:10pt;">transaction. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">Consequently, the Fund may engage in active and frequent trading of portfolio securities in an effort to </span><span style="color:#000000;font-family:Arial;font-size:10pt;">achieve its investment objective. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">In order to generate additional income, the Fund may lend portfolio securities to broker-dealers and other financial institutions provided that the value of the loaned securities does not exceed 30% of the Fund’s total assets. These loans earn income for the Fund and are collateralized by cash and securities issued or guaranteed by the U.S. </span><span style="color:#000000;font-family:Arial;font-size:10pt;">Government or its agencies or instrumentalities.</span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">The Fund invests, under normal circumstances, at least 80% of its net assets in fixed-income securities.</span> <span style="font-family:Arial;font-size:10pt;">The Fund </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">primarily invests in medium- to high-quality fixed-income securities, including corporate debt securities of domestic and foreign companies, or in securities issued or guaranteed by the U.S. Government such as treasury obligations, including treasury coupon strips and treasury principal strips, and other U.S. Government securities, mortgage-related and mortgage-backed or non-mortgage </span><span style="font-family:Arial;font-size:10pt;">asset-backed securities.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;">Shares of the Fund are not bank deposits and </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">are not guaranteed or insured by any bank, government entity or the Federal Deposit Insurance Corporation.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;"> If the </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">value of the assets of the Fund goes down, you could lose </span><span style="color:#000000;font-family:Arial;font-size:10pt;">money.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Management Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The investment style or strategy used </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">by the Fund may fail to produce the intended result. A subadviser’s assessment of a particular security or company may prove incorrect, resulting in losses or </span><span style="color:#000000;font-family:Arial;font-size:10pt;">underperformance.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Active Trading Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> High portfolio turnover rates that </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">are associated with active trading may result in higher transaction costs, which can adversely affect the Fund’s performance. Active trading tends to be more pronounced </span><span style="color:#000000;font-family:Arial;font-size:10pt;">during periods of increased market volatility.</span> <span style="font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">U.S. Government Obligations Risk.</span><span style="font-family:Arial;font-size:10pt;"> U.S. Treasury </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">obligations are backed by the “full faith and credit” of the U.S. Government and are generally considered to have low credit risk. Unlike U.S. Treasury obligations, securities issued or guaranteed by federal agencies or authorities and U.S. Government-sponsored instrumentalities or enterprises, including FNMA and FHLMC, may or may not be backed by the full faith and credit of the U.S. Government and are therefore subject to greater credit </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">risk than securities issued or guaranteed by the U.S. </span><span style="font-family:Arial;font-size:10pt;">Treasury. </span> <span style="font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Mortgage-Backed Securities Risk.</span><span style="font-family:Arial;font-size:10pt;"> Mortgage-backed </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">securities are similar to other debt securities in that they are subject to credit risk and interest rate risk. Mortgage-backed securities may be issued or guaranteed by the U.S. Government, its agencies or instrumentalities or may be non‑guaranteed securities issued by private issuers. These securities are also subject to the risk that issuers will prepay the principal more quickly or more slowly than expected, which could cause the Fund to invest the proceeds in less attractive investments or increase the volatility of their prices. CMOs, which are a type of mortgage-backed security, may be less liquid and may exhibit greater price volatility than other types of mortgage-and asset-backed securities. “Subprime” mortgages are subject to certain other risks, including prepayment and call risks. The risk of default, for “sub‑prime” mortgages is also generally higher than other types of mortgage-backed securities. The structure of some of these securities may be complex and there may be less available information than other types of debt </span><span style="font-family:Arial;font-size:10pt;">securities.</span> <span style="font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Asset-Backed Securities Risk.</span><span style="font-family:Arial;font-size:10pt;"> Asset-backed securities </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">are bonds or notes that are normally supported by a specific property. If the issuer fails to pay the interest or return the principal when the bond matures, then the issuer must give the property to the bondholders or noteholders; however, the assets backing these securities may be insufficient to support the payments on the securities. Examples of assets supporting asset-backed securities include credit card receivables, retail installment loans, home equity loans, auto loans, and manufactured housing loans. Certain asset-backed securities are issued by private parties rather than the U.S. Government or its agencies or government-sponsored </span><span style="font-family:Arial;font-size:10pt;">entities.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Credit Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The Fund may suffer losses if the issuer of </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">a fixed-income security owned by the Fund is unable to </span><span style="color:#000000;font-family:Arial;font-size:10pt;">make interest or principal payments.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Call or Prepayment Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> During periods of falling </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">interest rates, a bond issuer may “call” a bond to repay it before its maturity date. The Fund may only be able to invest the bond’s proceeds at lower interest rates, </span><span style="color:#000000;font-family:Arial;font-size:10pt;">resulting in a decline in the Fund’s income.</span> <span style="font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Interest Rate Risk.</span><span style="font-family:Arial;font-size:10pt;"> Fixed income securities may be </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">subject to volatility due to changes in interest rates. The value of fixed-income securities may decline when interest rates go up or increase when interest rates go down. The interest earned on fixed-income securities may decline when interest rates go down or increase when </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">interest rates go up. Duration is a measure of interest rate risk that indicates how price-sensitive a bond is to changes in interest rates. Longer-term and lower coupon bonds tend to be more sensitive to changes in interest rates. For example, a bond with a duration of three years will decrease in value by approximately 3% if interest rates increase by 1%. Changing interest rates may have unpredictable effects on markets, may result in heightened market volatility, and could negatively impact the Fund’s performance. Any future changes in monetary policy made by central banks and/or their governments </span><span style="font-family:Arial;font-size:10pt;">are likely to affect the level of interest rates.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Foreign Investment Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Investment in foreign </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">securities involves risks due to several factors, such as illiquidity, the lack of public information, changes in the exchange rates between foreign currencies and the U.S. dollar, unfavorable political, social and legal developments, or economic and financial instability. Foreign companies are not subject to the U.S. accounting and financial reporting standards and may have riskier settlement procedures. U.S. investments that are denominated in foreign currencies or that are traded in foreign markets, or securities of U.S. companies that have significant foreign operations may be subject to foreign </span><span style="color:#000000;font-family:Arial;font-size:10pt;">investment risk.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Emerging Markets Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> In addition to the risks </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">associated with investments in foreign securities, emerging market securities are subject to additional risks, which cause these securities generally to be more volatile </span><span style="color:#000000;font-family:Arial;font-size:10pt;">than securities of issuers located in developed countries.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Currency Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Because the Fund’s foreign investments </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">are generally held in foreign currencies, the Fund could experience gains or losses based solely on changes in the exchange rate between foreign currencies and the U.S. </span><span style="color:#000000;font-family:Arial;font-size:10pt;">dollar. Such gains or losses may be substantial.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Junk Bond Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> High yielding, high risk fixed-income </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">securities (often referred to as “junk bonds”) may involve significantly greater credit risk, market risk and interest rate risk compared to higher rated fixed-income securities. Issuers of junk bonds are less secure financially and their securities are more sensitive to downturns in the economy. The market for junk bonds may not be as liquid as that for </span><span style="color:#000000;font-family:Arial;font-size:10pt;">more highly rated securities.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Market Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The Fund’s share price can fall because of </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">weakness in the broad market, a particular industry, or specific holdings or due to adverse social, political or economic developments here or abroad, changes in investor psychology, technological disruptions, or heavy institutional selling and other conditions or events (including, for example, military confrontations, war, terrorism, trade wars, disease/virus outbreaks and </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">epidemics). The prices of individual securities may fluctuate, sometimes dramatically, from day to day. The prices of stocks and other equity securities tend to be </span><span style="color:#000000;font-family:Arial;font-size:10pt;">more volatile than those of fixed-income securities.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Securities Lending Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Engaging in securities lending </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">could increase the market and credit risk for Fund investments. The Fund may lose money if it does not recover borrowed securities, the value of the collateral falls, or the value of investments made with cash collateral declines. The Fund’s loans will be collateralized by securities issued or guaranteed by the U.S. Government or its agencies and instrumentalities, which subjects the Fund to the credit risk of the U.S. Government or the issuing federal agency or instrumentality. If the value of either the cash collateral or the Fund’s investments of the cash collateral falls below the amount owed to a borrower, the Fund also may incur losses that exceed the amount it earned on lending the security. Securities lending also involves the risks of delay in receiving additional collateral or possible loss of rights in the collateral if the borrower fails. Another risk of securities lending is the risk that the loaned portfolio securities may not be available to the Fund on a timely basis and the Fund may therefore lose </span><span style="color:#000000;font-family:Arial;font-size:10pt;">the opportunity to sell the securities at a desirable price.</span> <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Performance Information</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">As a result of a reorganization which occurred on May 24, 2021 (the “Reorganization”), the Fund acquired all of the assets and liabilities of the Core Bond Fund (the “Predecessor Fund”), a series of VALIC Company II. The returns presented for the Fund reflect the performance of the Predecessor Fund. The Fund had not yet commenced operations prior to the Reorganization. The performance information below is based on the performance of the Predecessor Fund for periods prior to the date of the Reorganization. The Fund and the Predecessor Fund had the same investment objectives, strategies and portfolio </span><span style="color:#000000;font-family:Arial;font-size:10pt;">management team as of the date of the Reorganization. </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">The below bar chart and table illustrate the risks of investing in the Fund by showing changes in the Fund’s performance from calendar year to calendar year and comparing the Fund’s average annual returns to those of the Bloomberg U.S. Aggregate Bond Index (a broad-based securities market index), which is relevant to the Fund because it has characteristics similar to the Fund’s investment strategies.</span><span style="font-family:Arial;font-size:10pt;"> Fees and expenses incurred at the </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">contract level are not reflected in the bar chart or table. If these amounts were reflected, returns would be less than those shown. </span><span style="color:#000000;font-family:Arial;font-size:10pt;">Of course, past performance of the Fund is </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">not necessarily an indication of how the Fund will perform </span><span style="color:#000000;font-family:Arial;font-size:10pt;">in the future.</span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">J.P. Morgan Investment Management Inc. (“JPMIM”) was added as a </span><span style="font-family:Arial;font-size:10pt;">subadviser to the Fund effective April 29, </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">2024. Prior to that date, PineBridge Investments LLC (“PineBridge”) served as </span><span style="font-family:Arial;font-size:10pt;">the sole subadviser to the Fund and to the Predecessor Fund since January 1, 2002.</span> <br/><span style="font-family:Arial;font-size:10pt;margin-left:0%;">The percentage of the Fund’s assets that each subadviser manages may, at the adviser’s discretion, change from </span><span style="font-family:Arial;font-size:10pt;">time to time. </span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">The below bar chart and table illustrate the risks of investing in the Fund by showing changes in the Fund’s performance from calendar year to calendar year and comparing the Fund’s average annual returns to those of the Bloomberg U.S. Aggregate Bond Index (a broad-based securities market index), which is relevant to the Fund because it has characteristics similar to the Fund’s investment strategies.</span> <span style="font-family:Arial;font-size:10pt;"> Fees and expenses incurred at the </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">contract level are not reflected in the bar chart or table. If these amounts were reflected, returns would be less than those shown. </span> <span style="color:#000000;font-family:Arial;font-size:10pt;">Of course, past performance of the Fund is </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">not necessarily an indication of how the Fund will perform </span><span style="color:#000000;font-family:Arial;font-size:10pt;">in the future.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;">During the period shown in the bar chart:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Highest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">December 31, 2023</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">7.41%</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Lowest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">March 31, 2022</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">-6.33%</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Year to Date Most </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Recent Quarter:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">June 30, 2026</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">0.79%</span> <span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Highest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span> 2023-12-31 0.0741 <span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Lowest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span> 2022-03-31 -0.0633 <span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Year to Date Most </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Recent Quarter:</span> 2026-06-30 0.0079 <span style="font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Average Annual Total Returns</span><span style="font-family:Arial;font-size:10pt;"> (For the periods ended December 31, 2025)</span> 0.0764 -0.0016 0.0236 0.0730 -0.0036 0.0201 <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Investment Objective</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund seeks capital growth by investing in common </span><span style="color:#000000;font-family:Arial;font-size:10pt;">stocks. </span><span style="color:#000000;font-family:Arial;font-size:10pt;">Income is a secondary objective.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;">Income is a secondary objective.</span> <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Fees and Expenses of the Fund</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">This table describes the fees and expenses that you may pay if you buy, hold and sell shares of the Fund. </span><span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">The table </span><span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">and the example below do not reflect the separate account fees charged in the variable annuity or variable life insurance policy (“Variable Contracts”) in which the Fund is offered.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> If separate account fees were </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">shown, the Fund’s annual operating expenses would be higher. Please see your Variable Contract prospectus for </span><span style="color:#000000;font-family:Arial;font-size:10pt;">more details on the separate account fees.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;text-decoration:underline;">Annual Fund Operating Expenses</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> (expenses that you </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">pay each year as a percentage of the value of your </span><span style="color:#000000;font-family:Arial;font-size:10pt;">investment)</span> 0.0072 0.0011 0.0083 -0.0016 0.0067 <span style="font-family:Arial;font-size:8pt;">September 30, 2027</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-style:italic;font-weight:bold;text-decoration:underline;">Expense Example</span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem or hold all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same (except that the Example incorporates any applicable fee waiver and/or expense limitation arrangements for only the first year). The Example does not reflect charges imposed by the Variable Contract. If the </span><span style="font-family:Arial;font-size:10pt;">separate account fees were reflected, the </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">expenses would be higher. See the Variable Contract prospectus for information on such charges. Although your actual costs may be higher or lower, based on these </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">assumptions and the net expenses shown in the fee table, </span><span style="color:#000000;font-family:Arial;font-size:10pt;">your costs would be:</span> 68 249 445 1011 <span style="color:#000000;font-family:Arial;font-size:10pt;font-style:italic;font-weight:bold;text-decoration:underline;">Portfolio Turnover</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). These costs, which are not reflected in annual fund operating expenses or in the Example, affect the </span><span style="color:#000000;font-family:Arial;font-size:10pt;">Fund’s performance.</span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">During the most recent fiscal year, the Fund’s portfolio </span><span style="font-family:Arial;font-size:10pt;">turnover rate was </span><span style="font-family:Arial;font-size:10pt;">95%</span><span style="font-family:Arial;font-size:10pt;"> of the average value of its portfolio.</span> 0.95 <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Principal Investment Strategies of the Fund</span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">Under normal circumstances, the Fund will invest at least 80% of its net assets in dividend paying securities of value companies.</span><span style="font-family:Arial;font-size:10pt;">For purposes of the Fund’s 80% investment </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">policy, a company is considered to be a value company if it: (i) issues securities that are presented in a third-party value-style index or that are classified as a value company by a third-party vendor; or (ii) meets a relevant equity market measurement in at least one “value metric” similar to those commonly used by third-party index providers or third-party vendors in value classifications, such as earnings growth, price-to-earnings or sales growth, </span><span style="font-family:Arial;font-size:10pt;">among others.</span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">The Fund seeks to achieve its objective by investing primarily in a diversified portfolio of equity securities including common stock, preferred stock and convertible securities. </span><span style="font-family:Arial;font-size:10pt;">The Fund may invest in securities of </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">companies with any market capitalization, but will generally focus on large cap securities. The Fund may invest up to 25% of its net assets in equity securities of foreign issuers, either directly or through depositary receipts. The foreign issuers in which the Fund may invest include issuers that are organized outside the United States and conduct their operations in the United States and other countries and other foreign issuers with market capitalizations generally of at least </span><span style="font-family:Arial;font-size:10pt;">$10 billion. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">In selecting portfolio securities, one of the Subadvisers will generally employ a value-oriented analysis, but may purchase equity securities based on a growth-oriented analysis when such securities pay dividends or the Subadviser believes such securities have particularly good prospects for capital appreciation. The other Subadviser typically emphasizes dividend paying equity securities with a focus placed upon current dividend levels </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">as well as dividend growth over time and looks for potential for capital appreciation, sound or improving balance sheets and effective management teams that exhibit a </span><span style="color:#000000;font-family:Arial;font-size:10pt;">desire to earn consistent returns for shareholders. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund may also invest in non convertible preferred stock, securities of other investment companies and of real estate investment trusts (“REITs”), warrants and </span><span style="color:#000000;font-family:Arial;font-size:10pt;">rights. </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">In order to generate additional income, the Fund may lend portfolio securities to broker-dealers and other financial institutions provided that the value of the loaned securities does not exceed 30% of the Fund’s total assets. These loans earn income for the Fund and are collateralized by cash and securities issued or guaranteed by the U.S. </span><span style="font-family:Arial;font-size:10pt;">Government or its agencies or instrumentalities.</span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">Under normal circumstances, the Fund will invest at least 80% of its net assets in dividend paying securities of value companies.</span> <span style="font-family:Arial;font-size:10pt;">For purposes of the Fund’s 80% investment </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">policy, a company is considered to be a value company if it: (i) issues securities that are presented in a third-party value-style index or that are classified as a value company by a third-party vendor; or (ii) meets a relevant equity market measurement in at least one “value metric” similar to those commonly used by third-party index providers or third-party vendors in value classifications, such as earnings growth, price-to-earnings or sales growth, </span><span style="font-family:Arial;font-size:10pt;">among others.</span> <span style="font-family:Arial;font-size:10pt;">For purposes of the Fund’s 80% investment </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">policy, a company is considered to be a value company if it: (i) issues securities that are presented in a third-party value-style index or that are classified as a value company by a third-party vendor; or (ii) meets a relevant equity market measurement in at least one “value metric” similar to those commonly used by third-party index providers or third-party vendors in value classifications, such as earnings growth, price-to-earnings or sales growth, </span><span style="font-family:Arial;font-size:10pt;">among others.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;">Shares of the Fund are not bank deposits and </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">are not guaranteed or insured by any bank, government entity or the Federal Deposit Insurance Corporation.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;"> If the </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">value of the assets of the Fund goes down, you could lose </span><span style="color:#000000;font-family:Arial;font-size:10pt;">money.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Management Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The investment style or strategy used </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">by a subadviser  may fail to produce the intended result. A subadviser ’s assessment of a particular security or company may prove incorrect, resulting in losses or </span><span style="color:#000000;font-family:Arial;font-size:10pt;">underperformance.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Dividend-paying Stocks Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The Fund’s emphasis on </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">dividend-paying stocks could cause the Fund to underperform similar funds that invest without consideration of a company’s track record of paying dividends. There is no guarantee that the issuers of the stocks held by the Fund will declare dividends in the future or that, if dividends are declared, they will remain at their current levels or increase over time. Dividend-paying stocks may not participate in a broad market advance to the same degree as other stocks, and a sharp rise in interest rates or economic downturn could cause a </span><span style="color:#000000;font-family:Arial;font-size:10pt;">company to unexpectedly reduce or eliminate its dividend.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Equity Securities Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The Fund invests principally in </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">equity securities and is therefore subject to the risk that stock prices will fall and may underperform other asset classes. Individual stock prices fluctuate from day-to-day and may decline significantly. The prices of individual </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">stocks may be negatively affected by poor company results or other factors affecting individual prices, as well as industry and/or economic trends and developments </span><span style="color:#000000;font-family:Arial;font-size:10pt;">affecting industries or the securities market as a whole.</span> <span style="font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Value Style Risk.</span><span style="font-family:Arial;font-size:10pt;"> Generally, “value” stocks are stocks of </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">companies that </span><span style="font-family:Arial;font-size:10pt;">are considered to be currently </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">undervalued in the marketplace. </span><span style="font-family:Arial;font-size:10pt;">The assessment that a </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">particular security is undervalued in relation to the company’s fundamental economic value may prove incorrect</span><span style="font-family:Arial;font-size:10pt;">, and the price of the company’s stock may fall or may not approach the value that has been attributed to it.</span> <span style="font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Growth Style Risk.</span><span style="font-family:Arial;font-size:10pt;"> Generally, “growth” stocks are stocks </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">of companies that </span><span style="font-family:Arial;font-size:10pt;">have anticipated earnings ranging from </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">steady to accelerated growth. Many investors buy growth stocks because of anticipated superior earnings growth, but earnings disappointments often result in sharp price declines. Growth companies usually invest a high portion of earnings in their own businesses so their stocks may lack the dividends that can cushion share prices in a down market. In addition, the value of growth stocks may be more sensitive to changes in current or expected earnings than the value of other stocks, because growth stocks </span><span style="font-family:Arial;font-size:10pt;">trade at higher prices relative to current earnings.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Convertible Securities Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Convertible security values </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">may be affected by market interest rates, issuer defaults and underlying common stock values; security values may fall if market interest rates rise and rise if market interest rates fall. Additionally, an issuer may have the right to buy back the securities at a time unfavorable to the </span><span style="color:#000000;font-family:Arial;font-size:10pt;">Fund.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Preferred Stock Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Unlike common stock, preferred </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">stock generally pays a fixed dividend from a company’s earnings and may have a preference over common stock on the distribution of a company’s assets in the event of bankruptcy or liquidation. Preferred stockholders’ liquidation rights are subordinate to the company’s debt holders and creditors. If interest rates rise, the fixed dividend on preferred stocks may be less attractive and the price of preferred stocks may decline. Preferred </span><span style="color:#000000;font-family:Arial;font-size:10pt;">stockholders typically do not have voting rights.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Income Producing Stock Availability Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Income </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">producing common stock meeting the Fund’s investment criteria may not be widely available and/or may be highly concentrated in only a few market sectors, thus limiting the ability of the Fund to produce current income while </span><span style="color:#000000;font-family:Arial;font-size:10pt;">remaining fully diversified.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Large-Cap Companies Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Investing primarily in large-cap</span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;"> companies carries the risk that due to current market conditions these companies may be out of favor with investors. Large-cap companies may be unable to </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">respond quickly to new competitive challenges or attain the high growth rate of successful smaller companies. Larger, more established companies may be unable to respond quickly to new competitive challenges, such as changes in technology and consumer tastes. Larger companies also may not be able to attain the high growth rate of successful smaller companies, particularly during </span><span style="color:#000000;font-family:Arial;font-size:10pt;">extended periods of economic expansion.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Market Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The Fund’s share price can fall because of </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">weakness in the broad market, a particular industry, or specific holdings or due to adverse social, political or economic developments here or abroad, changes in investor psychology, technological disruptions, or heavy institutional selling and other conditions or events (including, for example, military confrontations, war, terrorism, trade wars, disease/virus outbreaks and epidemics). The prices of individual securities may fluctuate, sometimes dramatically, from day to day. The prices of stocks and other equity securities tend to be </span><span style="color:#000000;font-family:Arial;font-size:10pt;">more volatile than those of fixed-income securities.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Mid-Cap Company Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Investing in mid-cap companies </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">carries the risk that due to current market conditions these companies may be out of favor with investors. Stocks of mid-cap companies may be more volatile than those of larger companies due to, among other reasons, narrower product lines, more limited financial resources and fewer </span><span style="color:#000000;font-family:Arial;font-size:10pt;">experienced managers.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Small-Cap Company Risk. </span><span style="color:#000000;font-family:Arial;font-size:10pt;">Investing in small-cap </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">companies carries the risk that due to current market conditions these companies may be out of favor with investors. Small companies often are in the early stages of development with limited product lines, markets, or financial resources and managements lacking depth and experience, which may cause their stock prices to be more volatile than those of larger companies. Small company stocks may be less liquid yet subject to abrupt or erratic price movements. It may take a substantial period of time before the Fund realizes a gain on an investment in a </span><span style="color:#000000;font-family:Arial;font-size:10pt;">small-cap company, if it realizes any gain at all.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Foreign Investment Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Investment in foreign </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">securities involves risks due to several factors, such as illiquidity, the lack of public information, changes in the exchange rates between foreign currencies and the U.S. dollar, unfavorable political, social and legal developments, or economic and financial instability. Foreign companies are not subject to the U.S. accounting and financial reporting standards and may have riskier settlement procedures. U.S. investments that are denominated in foreign currencies or that are traded in foreign markets, or securities of U.S. companies that have significant foreign operations may be subject to foreign </span><span style="color:#000000;font-family:Arial;font-size:10pt;">investment risk.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Depositary Receipts Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;">Depositary receipts are </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">generally subject to the same risks as the foreign securities that they evidence or into which they may be converted. Depositary receipts may or may not be jointly sponsored by the underlying issuer. The issuers of unsponsored depositary receipts are not obligated to disclose information that is considered material in the United States. Therefore, there may be less information available regarding the issuers and there may not be a correlation between such information and the market value of the depositary receipts. Certain depositary receipts are not listed on an exchange and therefore may </span><span style="color:#000000;font-family:Arial;font-size:10pt;">be considered to be illiquid securities.</span> <span style="font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Warrants and Rights Risk.</span><span style="font-family:Arial;font-size:10pt;"> Warrants and rights can </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">provide a greater potential for profit or loss than an equivalent investment in the underlying security. Warrants and rights have no voting rights, pay no dividends and have no rights with respect to the assets of the issuer other than a purchase option. Prices of warrants and rights do not necessarily move in tandem with the prices of the underlying securities and therefore are highly volatile and speculative investments. Warrants and rights may lack a liquid secondary market for resale. </span><span style="font-family:Arial;font-size:10pt;">If a warrant </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">or right held by the Fund is not exercised by the date of its expiration, the Fund would lose the entire purchase price </span><span style="font-family:Arial;font-size:10pt;">of the warrant or right.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Real Estate Investment Trusts Risk. </span><span style="color:#000000;font-family:Arial;font-size:10pt;">REITs are trusts </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">that invest primarily in commercial real estate, residential real estate or real estate related loans. The value of an interest in a REIT may be affected by the value and the cash flows of the properties owned or the quality of the mortgages held by the REIT. The performance of a REIT depends on current economic conditions and the types of real property in which it invests and how well the property is managed. If a REIT concentrates its investments in a geographic region or property type, changes in underlying real estate values may have an exaggerated effect on the </span><span style="color:#000000;font-family:Arial;font-size:10pt;">value of the REIT.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Securities Lending Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Engaging in securities lending </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">could increase the market and credit risk for Fund investments. The Fund may lose money if it does not recover borrowed securities, the value of the collateral falls, or the value of investments made with cash collateral declines. The Fund’s loans will be collateralized by securities issued or guaranteed by the U.S. Government or its agencies and instrumentalities, which subjects the Fund to the credit risk of the U.S. Government or the issuing federal agency or instrumentality. If the value of either the cash collateral or the Fund’s investments of the cash collateral falls below the amount owed to a borrower, the Fund also may incur losses that exceed the amount it earned on lending the security. Securities lending also </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">involves the risks of delay in receiving additional collateral or possible loss of rights in the collateral if the borrower fails. Another risk of securities lending is the risk that the loaned portfolio securities may not be available to the Fund on a timely basis and the Fund may therefore lose </span><span style="color:#000000;font-family:Arial;font-size:10pt;">the opportunity to sell the securities at a desirable price.</span> <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Performance Information</span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">The below bar chart and table illustrate the risks of investing in the Fund by showing changes in the Fund’s performance from calendar year to calendar year and comparing the Fund’s average annual returns to those of the S&amp;P 500</span><span style="font-family:Arial;font-size:6.5pt;position:relative;top:-3.25pt;">®</span><span style="font-family:Arial;font-size:10pt;"> Index (a broad-based securities market </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">index) and the Russell 1000</span><span style="font-family:Arial;font-size:6.5pt;position:relative;top:-3.25pt;">®</span><span style="font-family:Arial;font-size:10pt;"> Value Index, which is </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">relevant to the Fund because it has characteristics similar to the Fund’s investment strategies.</span><span style="font-family:Arial;font-size:10pt;"> Fees and expenses </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">incurred at the contract level are not reflected in the bar chart or table. If these amounts were reflected, returns would be less than those shown. </span><span style="font-family:Arial;font-size:10pt;">Of course, past </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">performance of the Fund is not necessarily an indication </span><span style="font-family:Arial;font-size:10pt;">of how the Fund will perform in the future.</span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">Prior to July 7, 2021, the Fund was subadvised by BlackRock Investment Management, LLC (“BlackRock”) and SunAmerica Asset Management, LLC (“SunAmerica”). Effective July 7, 2021, ClearBridge Investments, LLC (“ClearBridge”) replaced SunAmerica </span><span style="color:#000000;font-family:Arial;font-size:10pt;">as a subadviser to the Fund.</span> <br/> <br/><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The percentage of the Fund’s assets that each subadviser manages may, at the adviser’s discretion, change from </span><span style="color:#000000;font-family:Arial;font-size:10pt;">time to time. </span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">The below bar chart and table illustrate the risks of investing in the Fund by showing changes in the Fund’s performance from calendar year to calendar year and comparing the Fund’s average annual returns to those of the S&amp;P 500</span><span style="font-family:Arial;font-size:6.5pt;position:relative;top:-3.25pt;">®</span><span style="font-family:Arial;font-size:10pt;"> Index (a broad-based securities market </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">index) and the Russell 1000</span><span style="font-family:Arial;font-size:6.5pt;position:relative;top:-3.25pt;">®</span><span style="font-family:Arial;font-size:10pt;"> Value Index, which is </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">relevant to the Fund because it has characteristics similar to the Fund’s investment strategies.</span> <span style="font-family:Arial;font-size:10pt;"> Fees and expenses </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">incurred at the contract level are not reflected in the bar chart or table. If these amounts were reflected, returns would be less than those shown. </span> <span style="font-family:Arial;font-size:10pt;">Of course, past </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">performance of the Fund is not necessarily an indication </span><span style="font-family:Arial;font-size:10pt;">of how the Fund will perform in the future.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;">During the period shown in the bar chart:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Highest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">December 31, 2020</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">15.14%</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Lowest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">March 31, 2020</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">-25.14%</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Year to Date Most </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Recent Quarter:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">June 30, 2026</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">10.34%</span> <span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Highest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span> 2020-12-31 0.1514 <span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Lowest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span> 2020-03-31 -0.2514 <span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Year to Date Most </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Recent Quarter:</span> 2026-06-30 0.1034 <span style="font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Average Annual Total Returns</span><span style="font-family:Arial;font-size:10pt;"> (For the periods ended December 31, 2025)</span> 0.1821 0.1155 0.1040 0.1788 0.1442 0.1482 0.1591 0.1133 0.1053 <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Investment Objective</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund’s investment objectives are capital appreciation </span><span style="color:#000000;font-family:Arial;font-size:10pt;">and current income while managing net equity exposure.</span> <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Fees and Expenses of the Fund</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">This table describes the fees and expenses that you may pay if you buy, hold and sell shares of the Fund. </span><span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">The table </span><span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">and the example below do not reflect the separate account fees charged in the variable annuity or variable life insurance policy (“Variable Contracts”) in which the Fund is offered.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> If separate account fees were </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">shown, the Fund’s annual operating expenses would be higher. Please see your Variable Contract prospectus for more details on the separate account fees. As an investor in the Fund, you pay the expenses of the Fund and indirectly pay a proportionate share of the expenses of the investment companies in which the Fund invests (the </span><span style="color:#000000;font-family:Arial;font-size:10pt;">“Underlying Funds”).</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;text-decoration:underline;">Annual Fund Operating Expenses</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> (expenses that you </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">pay each year as a percentage of the value of your </span><span style="color:#000000;font-family:Arial;font-size:10pt;">investment)</span> 0.0025 0.0015 0.0003 0.0012 0.0040 0.0080 -0.0005 0.0075 <span style="color:#000000;font-family:Arial;font-size:8pt;">The Total Annual Fund Operating Expenses for the Fund do not correlate to the ratio of net expenses to average net assets provided in the Financial Highlights table of the Fund’s annual report, which reflects the gross operating expenses of the Fund and does not include Acquired Fund Fees and Expenses.</span> <span style="font-family:Arial;font-size:8pt;">September 30, 2027</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-style:italic;font-weight:bold;text-decoration:underline;">Expense Example</span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem or hold all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same (except that the Example incorporates any applicable fee waiver and/or expense limitation arrangements for only the first year). The Example does not reflect charges imposed by the Variable Contract. If the </span><span style="font-family:Arial;font-size:10pt;">separate account fees were reflected, the </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">expenses would be higher. See the Variable Contract prospectus for information on such charges. Although your actual costs may be higher or lower, based on these assumptions and the net expenses shown in the fee table, </span><span style="font-family:Arial;font-size:10pt;">your costs would be:</span> 77 250 439 985 <span style="color:#000000;font-family:Arial;font-size:10pt;font-style:italic;font-weight:bold;text-decoration:underline;">Portfolio Turnover</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The portion of the Fund that operates as a fund-of-funds does not pay transaction costs when it buys and sells shares of Underlying Funds (or “turns over” its portfolio). An Underlying Fund pays transaction costs, such as commissions, when it turns over its portfolio, and a higher portfolio turnover rate may indicate higher transaction costs. These costs, which are not reflected in annual Fund operating expenses or in the Example, affect the performance of both the Underlying Funds and the Fund. The Fund does, however, pay transaction costs when it buys and sells the financial instruments held in the </span><span style="color:#000000;font-family:Arial;font-size:10pt;">Overlay Component of the Fund (defined below). </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">During the most recent fiscal year, the Fund’s portfolio </span><span style="font-family:Arial;font-size:10pt;">turnover rate was </span><span style="font-family:Arial;font-size:10pt;">58%</span><span style="font-family:Arial;font-size:10pt;"> of the average value of its portfolio.</span> 0.58 <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Principal Investment Strategies of the Fund</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund seeks to achieve its objectives by investing under normal conditions approximately 70% to 90% of its assets in shares of the Underlying Funds, which are portfolios of VALIC Company I, (the “Fund-of-Funds Component”) and 10% to 30% of its assets in a portfolio of derivative instruments, fixed income securities and </span><span style="color:#000000;font-family:Arial;font-size:10pt;">short-term investments (the “Overlay Component”). </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund-of-Funds Component will allocate approximately 50% to 80% of its assets to Underlying Funds investing primarily in equity securities and 20% to 50% of its assets to Underlying Funds investing primarily </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">in fixed income securities and short-term investments, which may include mortgage- and asset-backed securities, to seek capital appreciation and generate </span><span style="color:#000000;font-family:Arial;font-size:10pt;">income. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Variable Annuity Life Insurance Company is the Fund’s investment adviser (“VALIC” or the “Adviser”). The Fund is sub-advised by AllianceBernstein L.P. (“AllianceBernstein”). The Adviser will determine the allocation between the Fund-of-Funds Component and the Overlay Component. AllianceBernstein is responsible for managing the Fund-of-Funds Component’s investment in Underlying Funds, so it will determine the target allocation between Underlying Funds that invest primarily in equity securities and Underlying Funds that invest primarily in fixed income securities. AllianceBernstein performs an investment analysis of possible investments for the Fund and selects the universe of permitted Underlying Funds as well as the allocation to each Underlying Fund. The Adviser may change the Fund’s asset allocation between the Fund-of-Funds Component and the Overlay Component from time to time without prior notice. AllianceBernstein may change the Fund-of-Funds </span><span style="color:#000000;font-family:Arial;font-size:10pt;">Component’s allocation among the Underlying Funds. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund-of-Funds Component seeks to achieve capital appreciation primarily through its investments in Underlying Funds that invest in equity securities of both U.S. and non-U.S. companies of all market capitalizations. The Fund normally does not expect to have more than 25% of its total assets allocated to Underlying Funds investing primarily in foreign securities, and no more than 5% of its total assets to Underlying Funds investing primarily in emerging markets (an emerging market is any country that is included in the MSCI Emerging Markets Index). The Fund-of-Funds Component seeks to achieve current income through its investments in Underlying Funds that primarily invest in fixed income securities, including both U.S. and foreign investment grade securities, but the Fund normally does not expect to have more than 5% of total assets allocated to Underlying Funds investing primarily in high-yield, high-risk bonds (commonly known as “junk bonds”), which are considered speculative. A portion of the Fund’s indirect holdings may also include money market securities. Fund cash flows are expected to be used to maintain or move Underlying Fund exposure close to target allocations, but sales and purchases of Underlying Funds may also be used to </span><span style="color:#000000;font-family:Arial;font-size:10pt;">change or remain near target allocations. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Overlay Component comprises the remaining 10%-30% of the Fund’s total assets. AllianceBernstein is responsible for managing the Overlay Component, which includes management of the derivative instruments, fixed </span><span style="color:#000000;font-family:Arial;font-size:10pt;">income securities and short-term investments. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">AllianceBernstein may invest the Overlay Component in derivative instruments to increase or decrease the Fund’s overall net equity exposure and, therefore, its volatility and return potential. Volatility is a statistical measurement of the magnitude of up and down fluctuations in the value of a financial instrument or index over time. High levels of volatility may result from rapid and dramatic price swings. Through its use of derivative instruments, AllianceBernstein may adjust the Fund’s net equity exposure down to a minimum of 25% or up to a maximum of 100%, although the Fund’s average net equity exposure over long term periods is expected to be approximately 60%-65%. The Fund’s net equity exposure is primarily adjusted through the use of derivative instruments, such as stock index futures and stock index options, and to a lesser extent options on stock index futures and stock index swaps, as the allocation among Underlying Funds in the Fund-of-Funds Component is expected to remain fairly stable. For example, when the market is in a state of higher volatility, AllianceBernstein may decrease the Fund’s net equity exposure by taking a short position in derivative instruments. A short sale involves the sale by the Fund of a security or instrument it does not own with the expectation of purchasing the same security or instrument at a later date at a lower price. The operation of the Overlay Component may therefore expose the Fund to leverage. Because derivative instruments may be purchased with a fraction of the assets that would be needed to purchase the equity securities directly, the remainder of the assets in the Overlay Component will be invested in a variety of fixed </span><span style="color:#000000;font-family:Arial;font-size:10pt;">income securities. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund’s performance may be lower than similar Funds that do not seek to manage their equity exposure. If AllianceBernstein increases the Fund’s net equity exposure and equity markets decline, the Fund may underperform traditional or static allocation funds. Likewise, if AllianceBernstein reduces the Fund’s net equity exposure and equity markets rise, the Fund may also underperform traditional or static allocation funds. Efforts to manage the Fund’s volatility may also expose the Fund to additional costs. In addition, AllianceBernstein will seek to reduce exposure to certain downside risks by purchasing equity index put options that aim to reduce the Fund exposure to certain severe and unanticipated market events that could significantly detract from returns. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">In addition to managing the Fund’s overall net equity exposure as described above, AllianceBernstein will, within established guidelines, manage the Overlay Component in an attempt to generate income, manage Fund cash flows and liquidity needs, and manage collateral for the derivative instruments. These </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">investments may include Underlying Funds that invest in equity securities of both U.S. and non-U.S. companies of all market capitalizations. At least 50% of the Overlay Component’s fixed income investments will be invested in U.S. Government securities, cash, repurchase agreements, and money market securities. A portion of the Overlay Component may be held in short-term investments as needed, in order to manage daily cash flows to or from the Fund or to serve as collateral. AllianceBernstein may also invest the Overlay Component in derivative instruments to generate income and manage </span><span style="color:#000000;font-family:Arial;font-size:10pt;">Fund’s cash flows and liquidity needs. </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">The following chart sets forth the target allocations of the Fund on or about May 31, </span><span style="font-family:Arial;font-size:10pt;">2026, to equity and fixed income </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">Underlying Funds and securities. These target allocations represent the Fund’s current goal for the allocation of its assets and does not take into account any change in net equity exposure from use of derivatives in the Overlay Component. The Fund’s actual allocations could vary substantially from the target allocations due to market valuation changes, changes in the target allocations and AllianceBernstein’s management of the Overlay </span><span style="font-family:Arial;font-size:10pt;">Component in response to volatility changes.</span><span style="border-bottom:0.5pt groove #000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0.0pt;">Asset Class</span><span style="font-family:Arial;font-size:10pt;font-weight:bold;">% of </span><span style="font-family:Arial;font-size:10pt;font-weight:bold;">Fund-of-Fund</span><span style="font-family:Arial;font-size:10pt;font-weight:bold;">% of </span><span style="font-family:Arial;font-size:10pt;font-weight:bold;">Total Fund</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Equity</span><span style="font-family:Arial;font-size:10pt;margin-left:9pt;">U.S. Large Cap</span><span style="font-family:Arial;font-size:10pt;width:41.89pt;">75.62%</span><span style="font-family:Arial;font-size:10pt;width:41.89pt;">61.52%</span><span style="font-family:Arial;font-size:10pt;margin-left:9pt;">Foreign Equity</span><span style="font-family:Arial;font-size:10pt;width:41.89pt;">1.59%</span><span style="font-family:Arial;font-size:10pt;width:41.89pt;">1.30%</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Fixed Income</span><span style="font-family:Arial;font-size:10pt;margin-left:9pt;">U.S. Investment Grade</span><span style="font-family:Arial;font-size:10pt;width:41.89pt;">22.79%</span><span style="font-family:Arial;font-size:10pt;width:41.89pt;">18.54%</span><span style="font-family:Arial;font-size:10pt;width:41.89pt;">100.0%</span><span style="font-family:Arial;font-size:10pt;width:41.89pt;">81.36%</span> <span style="color:#000000;font-family:Arial;font-size:10pt;">Shares of the Fund are not bank deposits and </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">are not guaranteed or insured by any bank, government entity or the Federal Deposit Insurance Corporation.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;"> If the </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">value of the assets of the Fund goes down, you could lose </span><span style="color:#000000;font-family:Arial;font-size:10pt;">money.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Market Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Market risk is both a direct and indirect risk </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">of investing in the Fund. The Fund’s or an Underlying Fund’s share price can fall because of weakness in the broad market, a particular industry, or specific holdings. The market as a whole can decline for many reasons, including adverse political or economic developments here or abroad, changes in investor psychology, or heavy institutional selling. The prospects for an industry or company may deteriorate because of a variety of factors, including disappointing earnings or changes in the competitive environment. In addition, the investment adviser’s assessment of companies held in an Underlying Fund may prove incorrect, resulting in losses or poor performance even in a rising market. Finally, the Fund’s or an Underlying Fund’s investment approach could fall out of favor with the investing public, resulting in lagging </span><span style="color:#000000;font-family:Arial;font-size:10pt;">performance versus other comparable portfolios.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Derivatives Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Derivatives risk is both a direct and </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">indirect risk of investing in the Fund. A derivative is any financial instrument whose value is based on, and determined by, another security, index or benchmark (i.e., stock option, futures, caps, floors, etc.). To the extent a derivative contract is used to hedge another position in the Fund or an Underlying Fund, the Fund or Underlying Fund will be exposed to the risks associated with hedging described below. To the extent an option, futures contract, swap, or other derivative is used to enhance return, rather than as a hedge, the Fund or Underlying Fund will be directly exposed to the risks of the contract. Gains or losses from non-hedging positions may be substantially greater than the cost of the position. By purchasing over-the-counter derivatives, the Fund or Underlying Fund is </span><span style="color:#000000;font-family:Arial;font-size:10pt;">exposed to credit quality risk of the counterparty.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Counterparty Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Counterparty risk is both a direct and </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">indirect risk of investing in the Fund. Counterparty risk is the risk that a counterparty to a security, loan or derivative held by the Fund or an Underlying Fund becomes bankrupt or otherwise fails to perform its obligations due to financial difficulties. The Fund or an Underlying Fund may experience significant delays in obtaining any recovery in a bankruptcy or other reorganization proceeding, and there may be no recovery or limited </span><span style="color:#000000;font-family:Arial;font-size:10pt;">recovery in such circumstances.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Leverage Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Leverage risk is a direct risk of investing </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">in the Fund. Certain managed futures instruments, and some other derivatives the Fund buys involve a degree of leverage. Leverage occurs when an investor has the right to a return on an investment that exceeds the return that </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">the investor would be expected to receive based on the amount contributed to the investment. The Fund’s use of certain economically leveraged futures and other derivatives can result in a loss substantially greater than the amount invested in the futures or other derivative itself. Certain futures and other derivatives have the potential for unlimited loss, regardless of the size of the initial investment. When the Fund uses futures and other derivatives for leverage, a shareholder’s investment in the Fund will tend to be more volatile, resulting in larger gains or losses in response to the fluctuating prices of the </span><span style="color:#000000;font-family:Arial;font-size:10pt;">Fund’s investments.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Bonds Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> This is both a direct and indirect risk of </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">investing in the Fund. As with any fund that invests significantly in bonds, the value of an investment in the Fund or an Underlying Fund may go up or down in response to changes in interest rates or defaults (or even </span><span style="color:#000000;font-family:Arial;font-size:10pt;">the potential for future defaults) by bond issuers.</span> <span style="font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Interest Rate Risk.</span><span style="font-family:Arial;font-size:10pt;"> Fixed income securities may be </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">subject to volatility due to changes in interest rates. The value of fixed-income securities may decline when interest rates go up or increase when interest rates go down. The interest earned on fixed-income securities may decline when interest rates go down or increase when interest rates go up. Duration is a measure of interest rate risk that indicates how price-sensitive a bond is to changes in interest rates. Longer-term and lower coupon bonds tend to be more sensitive to changes in interest rates. For example, a bond with a duration of three years will decrease in value by approximately 3% if interest rates increase by 1%. Changing interest rates may have unpredictable effects on markets, may result in heightened market volatility, and could negatively impact the </span><span style="font-family:Arial;font-size:10pt;">Fund’s performance. Any future changes in monetary </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">policy made by central banks and/or their governments </span><span style="font-family:Arial;font-size:10pt;">are likely to affect the level of interest rates.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Credit Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Credit risk is both a direct and indirect risk of </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">investing in the Fund. Credit risk applies to most debt securities, but is generally not a factor for obligations backed by the “full faith and credit” of the U.S. Government. The Fund or an Underlying Fund could lose money if the issuer of a debt security is unable or perceived to be unable to pay interest or repay principal when it becomes due. Various factors could affect the issuer’s actual or perceived willingness or ability to make timely interest or principal payments, including changes in the issuer’s financial condition or in general economic </span><span style="color:#000000;font-family:Arial;font-size:10pt;">conditions.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Hedging Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Hedging risk is both a direct and indirect </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">risk of investing in this Fund. A hedge is an investment made in order to reduce the risk of adverse price </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">movements in a currency or other investment, by taking an offsetting position (often through a derivative, such as an option or forward). While hedging strategies can be very useful and inexpensive ways of reducing risk, they are sometimes ineffective due to the unexpected changes in the market. Hedging also involves the risk that changes in the value of the related security will not match those of the instruments being hedged as expected, in which case any losses on the instruments being hedged may not be reduced. For gross currency hedges by Underlying Funds, there is an additional risk, to the extent that these transactions create exposure to currencies in which an </span><span style="color:#000000;font-family:Arial;font-size:10pt;">Underlying Fund’s securities are not denominated.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Short Sales Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Short sale risk is both a direct and </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">indirect risk of investing in the Fund. Short sales by the Fund or an Underlying Fund involve certain risks and special considerations. Possible losses from short sales differ from losses that could be incurred from a purchase of a security, because losses from short sales are potentially unlimited, whereas losses from purchases can </span><span style="color:#000000;font-family:Arial;font-size:10pt;">be no greater than the total amount invested.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">U.S. Government Obligations Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> This is both a direct </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">and indirect risk of investing in the Fund. U.S. Treasury obligations are backed by the “full faith and credit” of the U.S. Government and are generally considered to have minimal credit risk. Securities issued or guaranteed by federal agencies or authorities and U.S. Government-sponsored instrumentalities or enterprises may or may not be backed by the full faith and credit of the U.S. Government. For example, securities issued by the Federal Home Loan Mortgage Corporation, the Federal National Mortgage Association and the Federal Home Loan Banks are neither insured nor guaranteed by the U.S. Government; the securities may be supported only by the ability to borrow from the U.S. Treasury or by the credit of the issuing agency, authority, instrumentality or enterprise and, as a result, are subject to greater credit risk than securities issued or guaranteed by the </span><span style="color:#000000;font-family:Arial;font-size:10pt;">U.S. Treasury.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Risk of Investing in Money Market Securities.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> This is </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">both a direct and indirect risk of investing in the Fund. An investment in the Fund is subject to the risk that the value of its investments in high-quality short-term obligations (“money market securities”) may be subject to changes in interest rates, changes in the rating of any money market security and in the ability of an issuer to make payments </span><span style="color:#000000;font-family:Arial;font-size:10pt;">of interest and principal.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Issuer Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The value of a security may decline for a </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">number of reasons directly related to the issuer, such as management performance, financial leverage and </span><span style="color:#000000;font-family:Arial;font-size:10pt;">reduced demand for the issuer’s goods and services.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Dynamic Allocation Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The Fund’s risks will directly </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">correspond to the risks of the Underlying Funds and other direct investments in which it invests. The Fund is subject to the risk that the investment process that will determine the selection of the Underlying Funds and the allocation and reallocation of the Fund’s assets among the various asset classes may not produce the desired result. The Fund is also subject to the risk that AllianceBernstein may be prevented from trading certain derivatives effectively or </span><span style="color:#000000;font-family:Arial;font-size:10pt;">in a timely manner.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Risk of Conflict with Insurance Company Interests. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">Managing the Fund’s net equity exposure may serve to reduce the risk from equity market volatility to the affiliated insurance companies and facilitate their ability to provide guaranteed benefits associated with certain Variable Contracts. While the interests of Fund shareholders and the affiliated insurance companies providing guaranteed benefits associated with the Variable Contracts are generally aligned, the affiliated insurance companies (and the Adviser by virtue of its affiliation with the insurance companies) may face potential conflicts of interest. In particular, certain aspects of the Fund’s management have the effect of mitigating the financial risks to which the affiliated insurance companies are subjected by providing those guaranteed benefits. In addition, the Fund’s performance may be lower than similar Funds that do not </span><span style="color:#000000;font-family:Arial;font-size:10pt;">seek to manage their equity exposure.</span> <span style="font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Investment Company Risk.</span><span style="font-family:Arial;font-size:10pt;"> The risks of the Fund </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">owning other investment companies, including the Underlying Funds, generally reflect the risks of owning the underlying securities they are designed to track, although lack of liquidity in these investments could result in it being more volatile than the underlying Fund of securities. Disruptions in the markets for the securities held by other investment </span><span style="font-family:Arial;font-size:10pt;">companies, including the Underlying Funds </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">purchased or sold by the Fund could result in losses on the Fund’s investment in such securities. The other investment company companies, including Underlying Funds also have fees that increase their costs versus </span><span style="font-family:Arial;font-size:10pt;">owning the underlying securities directly.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Large-Cap Companies Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Large-cap companies tend </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">to be less volatile than companies with smaller market capitalizations. In exchange for this potentially lower risk, an Underlying Fund’s value may not rise as much as the value of Funds that emphasize smaller companies. Larger, more established companies may be unable to respond quickly to new competitive challenges, such as changes in technology and consumer tastes. Larger companies also may not be able to attain the high growth rate of successful smaller companies, particularly during </span><span style="color:#000000;font-family:Arial;font-size:10pt;">extended periods of economic expansion.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">“Passively Managed” Strategy Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> An Underlying </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">Fund following a passively managed strategy will not deviate from its investment strategy. In most cases, it will involve a passively managed strategy utilized to achieve investment results that correspond to a particular market index. Such a Fund will not sell securities in its portfolio and buy different securities for other reasons, even if there are adverse developments concerning a particular security, company or industry. There can be no assurance </span><span style="color:#000000;font-family:Arial;font-size:10pt;">that the strategy will be successful.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Small- and Medium-Sized Companies Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Securities </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">of small- and medium-sized companies are usually more volatile and entail greater risks than securities of large </span><span style="color:#000000;font-family:Arial;font-size:10pt;">companies.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Growth Style Risk. </span><span style="color:#000000;font-family:Arial;font-size:10pt;">Growth stocks are historically volatile, which will affect certain Underlying Funds.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Value Investing Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The investment adviser’s </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">judgments that a particular security is undervalued in relation to the company’s fundamental economic value may prove incorrect, which will affect certain Underlying </span><span style="color:#000000;font-family:Arial;font-size:10pt;">Funds.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Foreign Investment Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Investments in foreign </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">countries are subject to a number of risks. A principal risk is that fluctuations in the exchange rates between the U.S. dollar and foreign currencies may negatively affect the value of an investment. In addition, there may be less publicly available information about a foreign company and it may not be subject to the same uniform accounting, auditing and financial reporting standards as U.S. companies. Foreign governments may not regulate securities markets and companies to the same degree as the U.S. government. Foreign investments will also be affected by local political or economic developments and governmental actions by the United States or other governments. Consequently, foreign securities may be less liquid, more volatile and more difficult to price than U.S. securities. These risks are heightened for emerging markets issuers. Historically, the markets of emerging market countries have been more volatile than more developed markets; however, such markets can provide </span><span style="color:#000000;font-family:Arial;font-size:10pt;">higher rates of return to investors.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Credit Quality Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The creditworthiness of an issuer is </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">always a factor in analyzing fixed income securities. An issuer with a lower credit rating will be more likely than a higher rated issuer to default or otherwise become unable to honor its financial obligations. Issuers with low credit ratings typically issue junk bonds, which are considered speculative. In addition to the risk of default, junk bonds may be more volatile, less liquid, more difficult to value </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">and more susceptible to adverse economic conditions or </span><span style="color:#000000;font-family:Arial;font-size:10pt;">investor perceptions than investment grade bonds.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Mortgage- and Asset-Backed Securities Risk. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">Mortgage- and asset-backed securities represent interests in “pools” of mortgages or other assets, including consumer loans or receivables held in trust. Asset-backed securities issued by trusts and special purpose corporations are backed by a pool of assets, such as credit card or automobile loan receivables representing the obligations of a number of different parties. Mortgage-backed securities directly or indirectly provide funds for mortgage loans made to residential home buyers. These include securities that represent interests in pools of mortgage loans made by lenders such as commercial banks, savings and loan institutions, mortgage bankers and others. They include mortgage pass-through securities, collateralized mortgage obligations (“CMOs”), commercial mortgage-backed securities, mortgage dollar rolls, CMO residuals, stripped mortgage-backed securities, non-agency residential mortgage-backed securities and other securities that directly or indirectly represent a participation in, or are secured by and payable from, mortgage loans or real property. The characteristics of these mortgage-backed and asset-backed securities differ from traditional fixed-income securities. Mortgage-backed securities are subject to “prepayment risk” and “extension risk.” Prepayment risk is the risk that, when interest rates fall, certain types of obligations will be paid off by the obligor more quickly than originally anticipated and the Fund may have to invest the proceeds in securities with lower yields. Extension risk is the risk that, when interest rates rise, certain obligations will be paid off by the obligor more slowly than anticipated, causing the value of these securities to fall. Small movements in interest rates (both increases and decreases) may quickly and significantly reduce the value of certain mortgage-backed securities. These securities also are subject to risk of default on the underlying mortgage, particularly during </span><span style="color:#000000;font-family:Arial;font-size:10pt;">periods of economic downturn.</span> <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Performance Information</span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">The below bar chart and table illustrate the risks of investing in the Fund by showing changes in the Fund’s performance from calendar year to calendar year and comparing the Fund’s average annual returns to those of the S&amp;P 500</span><span style="font-family:Arial;font-size:6.5pt;position:relative;top:-3.25pt;">®</span><span style="font-family:Arial;font-size:10pt;"> Index (a broad-based securities index) and </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">a blended index. The blended index is comprised of 60% S&amp;P 500</span><span style="font-family:Arial;font-size:6.5pt;position:relative;top:-3.25pt;">®</span><span style="font-family:Arial;font-size:10pt;"> Index and 40% Bloomberg U.S. Aggregate </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">Bond Index (the “Blended Index”).  The Blended Index is relevant to the Fund because it has characteristics similar to the Fund’s investment strategies.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Fees and expenses </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">incurred at the contract level are not reflected in the bar chart or table. If these amounts were reflected, returns would be less than those shown. </span><span style="color:#000000;font-family:Arial;font-size:10pt;">Of course, past </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">performance of the Fund is not necessarily an indication </span><span style="color:#000000;font-family:Arial;font-size:10pt;">of how the Fund will perform in the future.</span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">AllianceBernstein assumed subadvisory duties for the Fund-of-Funds Component on September 29, 2025. From inception through September 28, 2025, SunAmerica Asset Management, LLC was the subadviser to the Fund-of-Funds</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Component. </span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">The below bar chart and table illustrate the risks of investing in the Fund by showing changes in the Fund’s performance from calendar year to calendar year and comparing the Fund’s average annual returns to those of the S&amp;P 500</span><span style="font-family:Arial;font-size:6.5pt;position:relative;top:-3.25pt;">®</span><span style="font-family:Arial;font-size:10pt;"> Index (a broad-based securities index) and </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">a blended index. The blended index is comprised of 60% S&amp;P 500</span><span style="font-family:Arial;font-size:6.5pt;position:relative;top:-3.25pt;">®</span><span style="font-family:Arial;font-size:10pt;"> Index and 40% Bloomberg U.S. Aggregate </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">Bond Index (the “Blended Index”).  The Blended Index is relevant to the Fund because it has characteristics similar to the Fund’s investment strategies.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;"> Fees and expenses </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">incurred at the contract level are not reflected in the bar chart or table. If these amounts were reflected, returns would be less than those shown. </span> <span style="color:#000000;font-family:Arial;font-size:10pt;">Of course, past </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">performance of the Fund is not necessarily an indication </span><span style="color:#000000;font-family:Arial;font-size:10pt;">of how the Fund will perform in the future.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;">During the period shown in the bar chart:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Highest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">December 31, 2023</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">9.81%</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Lowest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">December 31, 2018</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">-10.10%</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Year to Date Most </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Recent Quarter:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">June 30, 2026</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">5.82%</span> <span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Highest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span> 2023-12-31 0.0981 <span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Lowest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span> 2018-12-31 -0.1010 <span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Year to Date Most </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Recent Quarter:</span> 2026-06-30 0.0582 <span style="font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Average Annual Total Returns</span><span style="font-family:Arial;font-size:10pt;"> (For the periods ended December 31, 2025)</span> 0.1133 0.0560 0.0749 0.1788 0.1442 0.1482 0.1370 0.0847 0.0978 <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Investment Objective</span> <span style="color:#000000;font-family:Arial;font-size:10pt;">The Fund seeks capital appreciation.</span> <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Fees and Expenses of the Fund</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">This table describes the fees and expenses that you may pay if you buy, hold and sell shares of the Fund. </span><span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">The table </span><span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">and the example below do not reflect the separate account fees charged in the variable annuity or variable life insurance policy (“Variable Contracts”) in which the Fund is offered.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> If separate account fees were </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">shown, the Fund’s annual operating expenses would be higher. Please see your Variable Contract prospectus for </span><span style="color:#000000;font-family:Arial;font-size:10pt;">more details on the separate account fees.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;text-decoration:underline;">Annual Fund Operating Expenses</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> (expenses that you </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">pay each year as a percentage of the value of your </span><span style="color:#000000;font-family:Arial;font-size:10pt;">investment)</span> 0.0075 0.0024 0.0099 <span style="color:#000000;font-family:Arial;font-size:10pt;font-style:italic;font-weight:bold;text-decoration:underline;">Expense Example</span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem or hold all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same (except that the Example incorporates any applicable fee waiver and/or expense limitation arrangements for only the first year). The Example does not reflect charges imposed by the Variable Contract. If the </span><span style="font-family:Arial;font-size:10pt;">separate account fees were reflected, the </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">expenses would be higher. See the Variable Contract prospectus for information on such charges. Although your actual costs may be higher or lower, based on these assumptions and the net expenses shown in the fee table, </span><span style="font-family:Arial;font-size:10pt;">your costs would be:</span> 101 315 547 1213 <span style="color:#000000;font-family:Arial;font-size:10pt;font-style:italic;font-weight:bold;text-decoration:underline;">Portfolio Turnover</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). These costs, which are not reflected in annual fund operating expenses or in the Example, affect the </span><span style="color:#000000;font-family:Arial;font-size:10pt;">Fund’s performance.</span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">During the most recent fiscal year, the Fund’s portfolio turnover rate was </span><span style="font-family:Arial;font-size:10pt;">127%</span><span style="font-family:Arial;font-size:10pt;"> of the average value of its </span><span style="font-family:Arial;font-size:10pt;">portfolio.</span> 1.27 <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Principal Investment Strategies of the Fund</span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">Under normal circumstances, the Fund invests at least 80% of value of its net assets in equity securities of emerging market companies and other investments that are tied economically to emerging markets.</span><span style="font-family:Arial;font-size:10pt;">The </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">Subadviser considers an emerging markets country to include any country that is: (1) generally recognized to be an emerging market country by the international financial community, including the World Bank; (2) classified by the United Nations as a developing country; or (3) included in the MSCI Emerging Markets Index (the “MSCI EM Index”).</span><span style="font-family:Arial;font-size:10pt;">The Subadviser determines that an investment is </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">tied economically to an emerging market if such investment satisfies one or more of the following conditions: (1) the issuer’s primary trading market is in an emerging market; (2) the issuer is organized under the laws of, derives at least 50% of its revenue from, or has at least 50% of its assets in emerging markets; and (3) the investment is included in an index representative of </span><span style="font-family:Arial;font-size:10pt;">emerging markets.</span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">Equity securities include common stock, preferred stock, convertible securities and depositary receipts. Generally, the Fund will invest in equities or other financial instruments that are components of, or have characteristics similar to, the securities included in the MSCI Emerging Markets Index. The MSCI Emerging Markets Index is a capitalization-weighted index from a broad range of industries chosen for market size, liquidity and industry group representation. The Fund primarily seeks to buy common stock and may also invest in preferred stock and convertible securities. From time to time, the Fund may invest in shares of companies through </span><span style="font-family:Arial;font-size:10pt;">“new issues” or initial public offerings (“IPOs”). </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">The Fund may use derivatives, including options, futures, swaps (including, but not limited to, total return swaps, some of which may be referred to as contracts for difference) and forward contracts, both to seek to increase the return of the Fund and to hedge (or protect) the value of its assets against adverse movements in currency exchange rates, interest rates and movements in the securities markets. In order to manage cash flows into or out of the Fund effectively, the Fund may buy and sell financial futures contracts or options on such contracts. Derivatives are financial instruments whose value is derived from another security, a currency or an index, including but not limited to the MSCI Emerging Markets Index. The use of options, futures, swaps (including, but not limited to, total return swaps, some of which may be referred to as contracts for difference) and forward contracts can be effective in protecting or enhancing the </span><span style="font-family:Arial;font-size:10pt;">value of the Fund’s assets. </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">The Fund may also gain exposure to securities of emerging markets companies through its investments in other investment companies, including exchange-traded </span><span style="font-family:Arial;font-size:10pt;">funds, that invest in such securities. </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">From time to time, the Fund may have significant investments in particular sectors, including the </span><span style="font-family:Arial;font-size:10pt;">information technology sector. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund seeks to pursue its investment objective by investing in equity securities in a disciplined manner, by using proprietary return forecast models that incorporate quantitative analysis. These forecast models are designed to identify aspects of mispricing across stocks which the Fund can seek to capture by over- and under-weighting particular equities while seeking to control incremental </span><span style="color:#000000;font-family:Arial;font-size:10pt;">risk. </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">In order to generate additional income, the Fund may lend portfolio securities to broker-dealers and other financial institutions provided that the value of the loaned securities does not exceed 30% of the Fund’s total assets. These loans earn income for the Fund and are collateralized by cash and securities issued or guaranteed by the U.S. Government or its agencies or </span><span style="font-family:Arial;font-size:10pt;">instrumentalities.</span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">Under normal circumstances, the Fund invests at least 80% of value of its net assets in equity securities of emerging market companies and other investments that are tied economically to emerging markets.</span> <span style="font-family:Arial;font-size:10pt;">The </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">Subadviser considers an emerging markets country to include any country that is: (1) generally recognized to be an emerging market country by the international financial community, including the World Bank; (2) classified by the United Nations as a developing country; or (3) included in the MSCI Emerging Markets Index (the “MSCI EM Index”).</span> <span style="font-family:Arial;font-size:10pt;">The Subadviser determines that an investment is </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">tied economically to an emerging market if such investment satisfies one or more of the following conditions: (1) the issuer’s primary trading market is in an emerging market; (2) the issuer is organized under the laws of, derives at least 50% of its revenue from, or has at least 50% of its assets in emerging markets; and (3) the investment is included in an index representative of </span><span style="font-family:Arial;font-size:10pt;">emerging markets.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;">Shares of the Fund are not bank deposits and </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">are not guaranteed or insured by any bank, government entity or the Federal Deposit Insurance Corporation.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;"> If the </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">value of the assets of the Fund goes down, you could lose </span><span style="color:#000000;font-family:Arial;font-size:10pt;">money.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Management Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The investment style or strategy used </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">by a subadviser may fail to produce the intended result. A subadviser’s assessment of a particular security or company may prove incorrect, resulting in losses or </span><span style="color:#000000;font-family:Arial;font-size:10pt;">underperformance.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Foreign Investment Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Investment in foreign </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">securities involves risks due to several factors, such as illiquidity, the lack of public information, changes in the exchange rates between foreign currencies and the U.S. dollar, unfavorable political, social and legal developments, or economic and financial instability. Foreign companies are not subject to the U.S. accounting and financial reporting standards and may have riskier settlement procedures. U.S. investments that are </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">denominated in foreign currencies or that are traded in foreign markets, or securities of U.S. companies that have significant foreign operations may be subject to foreign </span><span style="color:#000000;font-family:Arial;font-size:10pt;">investment risk.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Emerging Markets Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> In addition to the risks </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">associated with investments in foreign securities, emerging market securities are subject to additional risks, which cause these securities generally to be more volatile </span><span style="color:#000000;font-family:Arial;font-size:10pt;">than securities of issuers located in developed countries.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Currency Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Because the Fund’s foreign investments </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">are generally held in foreign currencies, the Fund could experience gains or losses based solely on changes in the exchange rate between foreign currencies and the U.S. </span><span style="color:#000000;font-family:Arial;font-size:10pt;">dollar. Such gains or losses may be substantial.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Geographic Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> If the Fund invests a significant portion </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">of its assets in issuers located in a single country, a limited number of countries, or a particular geographic region, it assumes the risk that economic, political and social conditions in those countries or that region may have a </span><span style="color:#000000;font-family:Arial;font-size:10pt;">significant impact on its investment performance.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Equity Securities Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The Fund invests principally in </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">equity securities and is the subject to the risk that stock prices will fall and may underperform other asset classes. Individual stock prices fluctuate from day-to-day and may decline significantly. The prices of individual stocks may be negatively affected by poor company results or other factors affecting individual prices, as well as industry and/or economic trends and developments affecting industries </span><span style="color:#000000;font-family:Arial;font-size:10pt;">or the securities market as a whole.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Preferred Stock Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Unlike common stock, preferred </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">stock generally pays a fixed dividend from a company’s earnings and may have a preference over common stock on the distribution of a company’s assets in the event of bankruptcy or liquidation. Preferred stockholders’ liquidation rights are subordinate to the company’s debt holders and creditors. If interest rates rise, the fixed dividend on preferred stocks may be less attractive and the price of preferred stocks may decline. Preferred </span><span style="color:#000000;font-family:Arial;font-size:10pt;">stockholders typically do not have voting rights.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Depositary Receipts Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;">Depositary receipts are </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">generally subject to the same risks as the foreign securities that they evidence or into which they may be converted. Depositary receipts may or may not be jointly sponsored by the underlying issuer. The issuers of unsponsored depositary receipts are not obligated to disclose information that is considered material in the United States. Therefore, there may be less information available regarding the issuers and there may not be a correlation between such information and the market value of the depositary receipts. Certain depositary </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">receipts are not listed on an exchange and therefore may </span><span style="color:#000000;font-family:Arial;font-size:10pt;">be considered to be illiquid securities.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Convertible Securities Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Convertible security values </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">may be affected by market interest rates, issuer defaults and underlying common stock values; security values may fall if market interest rates rise and rise if market interest rates fall. Additionally, an issuer may have the right to buy back the securities at a time unfavorable to the </span><span style="color:#000000;font-family:Arial;font-size:10pt;">Fund.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">IPO Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> A Fund’s purchase of shares issued as part of, </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">or a short period after a company’s initial public offering (“IPO”) exposes it to risks associated with companies that have little operating history as public companies, as well as to the risks inherent in those sectors of the market where these new issuers operate. The market for IPO issuers has been volatile, and share prices of newly-public companies have fluctuated in significant amounts over </span><span style="color:#000000;font-family:Arial;font-size:10pt;">short periods of time.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Model Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The risk that the asset allocation model fails to produce the optimal allocation.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Derivatives Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The prices of derivatives may move in </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">unexpected ways due to the use of leverage and other factors and may result in increased volatility or losses. The Fund may not be able to terminate or sell derivative positions, and a liquid secondary market may not always </span><span style="color:#000000;font-family:Arial;font-size:10pt;">exist for derivative positions.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Hedging Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> A hedge is an investment made in order to </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">reduce the risk of adverse price movements in a currency or other investment by taking an offsetting position (often through a derivative instrument, such as an option or forward contract). While hedging strategies can be very useful and inexpensive ways of reducing risk, they are sometimes ineffective due to unexpected changes in the market. Hedging also involves the risk that changes in the value of the related security will not match those of the instruments being hedged as expected, in which case any losses on the instruments being hedged may not be </span><span style="color:#000000;font-family:Arial;font-size:10pt;">reduced.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Quantitative Investing Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The value of securities </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">selected using quantitative analysis can react differently to issuer, political, market, and economic developments from the market as a whole or securities selected using only fundamental analysis. The factors used in quantitative analysis and the weight placed on those factors may not be predictive of a security’s value. In addition, factors that affect a security’s value can change over time and these </span><span style="color:#000000;font-family:Arial;font-size:10pt;">changes may not be reflected in the quantitative model.</span> <span style="font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Sector Risk.</span><span style="font-family:Arial;font-size:10pt;"> Companies with similar characteristics may </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">be grouped together in broad categories called sectors. Sector risk is the risk that securities of companies within </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">specific sectors of the economy can perform differently than the overall market. This may be due to changes in such things as the regulatory or competitive environment or to changes in investor perceptions regarding a sector. Because the Fund may allocate relatively more assets to certain sectors than others, the Fund’s performance may be more susceptible to any developments which affect </span><span style="font-family:Arial;font-size:10pt;">those sectors emphasized by the Fund.</span> <span style="font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Technology Sector Risk.</span><span style="font-family:Arial;font-size:10pt;"> Technology stocks historically </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">have experienced unusually wide price swings. Earnings disappointments and intense competition for market share can result in sharp declines in the prices of technology </span><span style="font-family:Arial;font-size:10pt;">stocks.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Market Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The Fund’s share price can fall because of </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">weakness in the broad market, a particular industry, or specific holdings or due to adverse social, political or economic developments here or abroad, changes in investor psychology, technological disruptions, or heavy institutional selling and other conditions or events (including, for example, military confrontations, war, terrorism, trade wars, disease/virus outbreaks and epidemics). The prices of individual securities may fluctuate, sometimes dramatically, from day to day. The prices of stocks and other equity securities tend to be </span><span style="color:#000000;font-family:Arial;font-size:10pt;">more volatile than those of fixed-income securities.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Securities Lending Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Engaging in securities lending </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">could increase the market and credit risk for Fund investments. The Fund may lose money if it does not recover borrowed securities, the value of the collateral falls, or the value of investments made with cash collateral declines. The Fund’s loans will be collateralized by securities issued or guaranteed by the U.S. Government or its agencies and instrumentalities, which subjects the Fund to the credit risk of the U.S. Government or the issuing federal agency or instrumentality. If the value of either the cash collateral or the Fund’s investments of the cash collateral falls below the amount owed to a borrower, the Fund also may incur losses that exceed the amount it earned on lending the security. Securities lending also involves the risks of delay in receiving additional collateral or possible loss of rights in the collateral if the borrower fails. Another risk of securities lending is the risk that the loaned portfolio securities may not be available to the Fund on a timely basis and the Fund may therefore lose </span><span style="color:#000000;font-family:Arial;font-size:10pt;">the opportunity to sell the securities at a desirable price.</span> <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Performance Information</span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">The below bar chart and table illustrate the risks of investing in the Fund by showing changes in the Fund’s performance from calendar year to calendar year and comparing the Fund’s average annual returns to those of the MSCI ACWI ex USA Index (net) (a broad-based </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">securities market index) and the MSCI Emerging Markets Index (net), which is relevant to the Fund because it has characteristics similar to the Fund’s investment strategies.</span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">Fees and expenses incurred at the contract level are not reflected in the bar chart or table. If these amounts were reflected, returns would be less than those shown. </span><span style="color:#000000;font-family:Arial;font-size:10pt;">Of </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">course, past performance of the Fund is not necessarily </span><span style="color:#000000;font-family:Arial;font-size:10pt;">an indication of how the Fund will perform in the future.</span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">Effective  April 29, 2024</span><span style="font-family:Arial;font-size:10pt;">, BlackRock Investment </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">Management, LLC (“BlackRock”) assumed sub‑advisory responsibilities for the Fund. From October 1, 2011 through April </span><span style="font-family:Arial;font-size:10pt;">28, 2024, J.P. Morgan Investment Management Inc. sub‑advised the Fund. </span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">The below bar chart and table illustrate the risks of investing in the Fund by showing changes in the Fund’s performance from calendar year to calendar year and comparing the Fund’s average annual returns to those of the MSCI ACWI ex USA Index (net) (a broad-based </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">securities market index) and the MSCI Emerging Markets Index (net), which is relevant to the Fund because it has characteristics similar to the Fund’s investment strategies.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">Fees and expenses incurred at the contract level are not reflected in the bar chart or table. If these amounts were reflected, returns would be less than those shown. </span> <span style="color:#000000;font-family:Arial;font-size:10pt;">Of </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">course, past performance of the Fund is not necessarily </span><span style="color:#000000;font-family:Arial;font-size:10pt;">an indication of how the Fund will perform in the future.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;">During the period shown in the bar chart:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Highest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">December 31, 2020</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">18.34%</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Lowest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">March 31, 2020</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">-24.25%</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Year to Date Most </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Recent Quarter:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">June 30, 2026</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">26.85%</span> <span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Highest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span> 2020-12-31 0.1834 <span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Lowest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span> 2020-03-31 -0.2425 <span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Year to Date Most </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Recent Quarter:</span> 2026-06-30 0.2685 <span style="font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Average Annual Total Returns</span><span style="font-family:Arial;font-size:10pt;"> (For the periods ended December 31, 2025)</span> 0.3011 0.0419 0.0804 0.3239 0.0791 0.0841 0.3357 0.0420 0.0842 <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Investment Objective</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund seeks high total return through long-term </span><span style="color:#000000;font-family:Arial;font-size:10pt;">growth of capital and current income.</span> <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Fees and Expenses of the Fund</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">This table describes the fees and expenses that you may pay if you buy, hold and sell shares of the Fund. </span><span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">The table </span><span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">and the example below do not reflect the separate account fees charged in the variable annuity or variable life insurance policy (“Variable Contracts”) in which the Fund is offered.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> If separate account fees were </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">shown, the Fund’s annual operating expenses would be higher. Please see your Variable Contract prospectus for </span><span style="color:#000000;font-family:Arial;font-size:10pt;">more details on the separate account fees.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;text-decoration:underline;">Annual Fund Operating Expenses</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> (expenses that you </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">pay each year as a percentage of the value of your </span><span style="color:#000000;font-family:Arial;font-size:10pt;">investment)</span> 0.0075 0.0017 0.0092 -0.0004 0.0088 <span style="font-family:Arial;font-size:8pt;">September 30, 2027</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-style:italic;font-weight:bold;text-decoration:underline;">Expense Example</span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem or hold all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same (except that the Example incorporates any applicable fee waiver and/or expense limitation arrangements for only the first year). The Example does not reflect charges imposed by the Variable Contract. If the </span><span style="font-family:Arial;font-size:10pt;">separate account fees were reflected, the </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">expenses would be higher. See the Variable Contract prospectus for information on such charges. Although your actual costs may be higher or lower, based on these assumptions and the net expenses shown in the fee table, </span><span style="font-family:Arial;font-size:10pt;">your costs would be:</span> 90 289 505 1128 <span style="color:#000000;font-family:Arial;font-size:10pt;font-style:italic;font-weight:bold;text-decoration:underline;">Portfolio Turnover</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). These costs, which are not reflected in annual fund operating expenses or in the Example, affect the </span><span style="color:#000000;font-family:Arial;font-size:10pt;">Fund’s performance.</span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">During the most recent fiscal year, the Fund’s portfolio </span><span style="font-family:Arial;font-size:10pt;">turnover rate was </span><span style="font-family:Arial;font-size:10pt;">26%</span><span style="font-family:Arial;font-size:10pt;"> of the average value of its portfolio.</span> 0.26 <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Principal Investment Strategies of the Fund</span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">The Fund invests, under normal circumstances, at least 80% of its net assets in a diversified portfolio of equity investments in real estate and real estate-related companies.</span><span style="font-family:Arial;font-size:10pt;"> A company is considered a “real estate </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">company” or “real estate-related company” if at least 50% of its net assets, gross income, or net profits are attributable to ownership, development, construction, financing, management, or sale of commercial, industrial or residential real estate or interests therein.</span><span style="font-family:Arial;font-size:10pt;">The Fund </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">invests primarily in real estate investment trusts (“REITs”) and equity securities, including common and preferred stocks and convertible securities. The Fund’s investments in real estate and real estate-related companies may include </span><span style="font-family:Arial;font-size:10pt;">REITs, REIT-like structures, or real estate </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">operating companies whose businesses and services are </span><span style="font-family:Arial;font-size:10pt;">related to the real estate industry.</span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">In complying with the 80% investment requirement, the Fund may include synthetic securities that have economic characteristics similar to the Fund’s direct investments that are counted toward the 80% investment requirement. </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">The Fund may invest in foreign securities, including securities of issuers in emerging markets. </span><span style="font-family:Arial;font-size:10pt;">Under normal </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">market conditions, the Fund expects to invest at least 30% of its assets in securities of issuers from at least three countries outside of the United</span><span style="font-family:Arial;font-size:10pt;"> States. The Fund expects </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">to invest a substantial portion of its assets in foreign securities economically tied to Japan, the United Kingdom, Australia, Hong Kong, Singapore, China, Canada, and Continental Europe. The Fund considers an investment </span><span style="font-family:Arial;font-size:10pt;">to be tied economically to a country if the issuer is organized in,</span><span style="font-family:Arial;font-size:10pt;line-height:12pt;"> </span><span style="font-family:Arial;font-size:10pt;">has its principal place of business </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">in, has principal trading activity in, or derives at least 50% of its revenues or profits from goods produced or sold, investments made,</span><span style="font-family:Arial;font-size:10pt;line-height:12pt;"> </span><span style="font-family:Arial;font-size:10pt;">or services performed in such country </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">or has at least 50% of its assets in such </span><span style="font-family:Arial;font-size:10pt;">country. From time </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">to time, the Fund’s investments with respect to a particular country may comprise a substantial portion of its </span><span style="font-family:Arial;font-size:10pt;">investment portfolio. </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">The Fund concentrates its investments in the real estate industry. The Fund’s Subadviser generally focuses on investing the Fund’s assets in equity </span><span style="font-family:Arial;font-size:10pt;">REITs as well as </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">similar entities formed under the laws of non-U.S. countries, but may also invest the </span><span style="font-family:Arial;font-size:10pt;">Fund’s assets in </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">mortgage REITs, hybrid REITs, and other U.S. and foreign real estate-related investments, including emerging </span><span style="font-family:Arial;font-size:10pt;">market real estate-related investments. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund’s Subadviser may invest the Fund’s assets in real estate-related investments of any size. However, issuers of real estate-related investments tend to have small-to-medium capitalizations. The Fund’s Subadviser normally allocates the Fund’s investments across different REIT managers and property types but may from time to time focus the Fund’s investments in any one or a few of </span><span style="color:#000000;font-family:Arial;font-size:10pt;">these areas. </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">In order to generate additional income, the Fund may lend portfolio securities to broker-dealers and other financial institutions provided that the value of the loaned securities does not exceed 30% of the Fund’s total assets. These loans earn income for the Fund and are collateralized by cash and securities issued or guaranteed by the U.S. </span><span style="font-family:Arial;font-size:10pt;">Government or its agencies or instrumentalities.</span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">The Fund invests, under normal circumstances, at least 80% of its net assets in a diversified portfolio of equity investments in real estate and real estate-related companies.</span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">The Fund invests, under normal circumstances, at least 80% of its net assets in a diversified portfolio of equity investments in real estate and real estate-related companies.</span> <span style="font-family:Arial;font-size:10pt;"> A company is considered a “real estate </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">company” or “real estate-related company” if at least 50% of its net assets, gross income, or net profits are attributable to ownership, development, construction, financing, management, or sale of commercial, industrial or residential real estate or interests therein.</span> <span style="font-family:Arial;font-size:10pt;">The Fund </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">invests primarily in real estate investment trusts (“REITs”) and equity securities, including common and preferred stocks and convertible securities. The Fund’s investments in real estate and real estate-related companies may include </span><span style="font-family:Arial;font-size:10pt;">REITs, REIT-like structures, or real estate </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">operating companies whose businesses and services are </span><span style="font-family:Arial;font-size:10pt;">related to the real estate industry.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;">Shares of the Fund are not bank deposits and </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">are not guaranteed or insured by any bank, government entity or the Federal Deposit Insurance Corporation.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;"> If the </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">value of the assets of the Fund goes down, you could lose </span><span style="color:#000000;font-family:Arial;font-size:10pt;">money.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Focused Fund Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The Fund, because it may invest in </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">a limited number of companies, may have more volatility in its net asset value and is considered to have more risk than a portfolio that invests in a greater number of companies because changes in the value of a single security may have a more significant effect, either negative or positive, on the Fund’s net asset value. To the extent the Fund invests its assets in fewer securities, the Fund is subject to greater risk of loss if any of those </span><span style="color:#000000;font-family:Arial;font-size:10pt;">securities decline in price.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Management Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The investment style or strategy used </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">by a subadviser may fail to produce the intended result. A subadviser’s assessment of a particular security or company may prove incorrect, resulting in losses or </span><span style="color:#000000;font-family:Arial;font-size:10pt;">underperformance.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Real Estate Investments Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Securities of companies </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">in the real estate industry are sensitive to several factors, such as changes in real estate values, interest rates, cash flow, occupancy rates, and greater company liabilities. Substantial investments in a particular industry or sector make the Fund’s performance more susceptible to any single economic, market, political or regulatory occurrence affecting that particular industry, group of </span><span style="color:#000000;font-family:Arial;font-size:10pt;">industries, or sector than a fund that invests more broadly.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Real Estate Investment Trusts Risk. </span><span style="color:#000000;font-family:Arial;font-size:10pt;">REITs are trusts </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">that invest primarily in commercial real estate, residential real estate or real estate related loans. The value of an interest in a REIT may be affected by the value and the cash flows of the properties owned or the quality of the mortgages held by the REIT. The performance of a REIT depends on current economic conditions and the types of real property in which it invests and how well the property is managed. If a REIT concentrates its investments in a geographic region or property type, changes in underlying real estate values may have an exaggerated effect on the </span><span style="color:#000000;font-family:Arial;font-size:10pt;">value of the REIT.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Equity Securities Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The Fund invests primarily in </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">equity securities and is therefore subject to the risk that stock prices will fall and may underperform other asset classes. Individual stock prices fluctuate from day-to-day and may decline significantly. The prices of individual stocks may be negatively affected by poor company results or other factors affecting individual prices, as well as industry and/or economic trends and developments </span><span style="color:#000000;font-family:Arial;font-size:10pt;">affecting industries or the securities market as a whole.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Currency Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Because the Fund’s foreign investments </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">are generally held in foreign currencies, the Fund could experience gains or losses based solely on changes in the exchange rate between foreign currencies and the U.S. </span><span style="color:#000000;font-family:Arial;font-size:10pt;">dollar. Such gains or losses may be substantial.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Emerging Markets Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> In addition to the risks </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">associated with investments in foreign securities, emerging market securities are subject to additional risks, which cause these securities generally to be more volatile </span><span style="color:#000000;font-family:Arial;font-size:10pt;">than securities of issuers located in developed countries.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Foreign Investment Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Investment in foreign </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">securities involves risks due to several factors, such as illiquidity, the lack of public information, changes in the exchange rates between foreign currencies and the U.S. dollar, unfavorable political, social and legal developments, or economic and financial instability. Foreign companies are not subject to the U.S. accounting and financial reporting standards and may have riskier settlement procedures. U.S. investments that are denominated in foreign currencies or that are traded in foreign markets, or securities of U.S. companies that have </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">significant foreign operations may be subject to foreign </span><span style="color:#000000;font-family:Arial;font-size:10pt;">investment risk.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Geographic Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> If the Fund invests a significant portion </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">of its assets in issuers located in a single country, a limited number of countries, or a particular geographic region, it assumes the risk that economic, political and social conditions in those countries or that region may have a </span><span style="color:#000000;font-family:Arial;font-size:10pt;">significant impact on its investment performance.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Market Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The Fund’s share price can fall because of </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">weakness in the broad market, a particular industry, or specific holdings or due to adverse social, political or economic developments here or abroad, changes in investor psychology, technological disruptions, or heavy institutional selling and other conditions or events (including, for example, military confrontations, war, terrorism, trade wars, disease/virus outbreaks and epidemics). The prices of individual securities may fluctuate, sometimes dramatically, from day to day. The prices of stocks and other equity securities tend to be </span><span style="color:#000000;font-family:Arial;font-size:10pt;">more volatile than those of fixed-income securities.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Mid-Cap Company Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Investing in mid-cap companies </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">carries the risk that due to current market conditions these companies may be out of favor with investors. Stocks of mid-cap companies may be more volatile than those of larger companies due to, among other reasons, narrower product lines, more limited financial resources and fewer </span><span style="color:#000000;font-family:Arial;font-size:10pt;">experienced managers.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Small-Cap Company Risk. </span><span style="color:#000000;font-family:Arial;font-size:10pt;">Investing in small-cap </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">companies carries the risk that due to current market conditions these companies may be out of favor with investors. Small companies often are in the early stages of development with limited product lines, markets, or financial resources and managements lacking depth and experience, which may cause their stock prices to be more volatile than those of larger companies. Small company stocks may be less liquid yet subject to abrupt or erratic price movements. It may take a substantial period of time before the Fund realizes a gain on an investment in a </span><span style="color:#000000;font-family:Arial;font-size:10pt;">small-cap company, if it realizes any gain at all.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Synthetic Securities Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Fluctuations in the values of </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">synthetic securities may not correlate perfectly with the instruments they are designed to replicate and may be volatile. Synthetic securities may be subject to interest rate changes, market price fluctuations, counterparty risk </span><span style="color:#000000;font-family:Arial;font-size:10pt;">and illiquidity risk.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Securities Lending Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Engaging in securities lending </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">could increase the market and credit risk for Fund investments. The Fund may lose money if it does not recover borrowed securities, the value of the collateral falls, or the value of investments made with cash collateral declines. The Fund’s loans will be collateralized by securities issued or guaranteed by the U.S. Government or its agencies and instrumentalities, which subjects the Fund to the credit risk of the U.S. Government or the issuing federal agency or instrumentality. If the value of either the cash collateral or the Fund’s investments of the cash collateral falls below the amount owed to a borrower, the Fund also may incur losses that exceed the amount it earned on lending the security. Securities lending also involves the risks of delay in receiving additional collateral or possible loss of rights in the collateral if the borrower fails. Another risk of securities lending is the risk that the loaned portfolio securities may not be available to the Fund on a timely basis and the Fund may therefore lose </span><span style="color:#000000;font-family:Arial;font-size:10pt;">the opportunity to sell the securities at a desirable price.</span> <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Performance Information</span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">The below bar chart and table illustrate the risks of investing in the Fund by showing changes in the Fund’s performance from calendar year to calendar year and comparing the Fund’s average annual returns to those of the MSCI ACWI Index (net) (a broad-based securities market index) and the Financial Times Stock Exchange European Public Real Estate Association / National Association of Real Estate Investment Trusts (“FTSE EPRA NAREIT”) Developed Index (net), which is relevant to the Fund because it has characteristics similar to the Fund’s investment strategies.</span><span style="font-family:Arial;font-size:10pt;"> Fees and expenses </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">incurred at the contract level are not reflected in the bar chart or table. If these amounts were reflected, returns would be less than those shown. </span><span style="font-family:Arial;font-size:10pt;">Of course, past </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">performance of the Fund is not necessarily an indication </span><span style="font-family:Arial;font-size:10pt;">of how the Fund will perform in the future.</span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">Effective May 1, 2023, Duff &amp; Phelps Investment Management Co. (“Duff &amp; Phelps”) and Massachusetts Financial Services Company (“MFS”) were engaged as subadvisers to the Fund, replacing Invesco Advisers, Inc. and Goldman Sachs Asset Management, L.P., which had served as </span><span style="font-family:Arial;font-size:10pt;">subadvisers since the Fund’s inception. </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">Effective September</span><span style="font-family:Arial;font-size:10pt;"> 29, 2026, MFS ceased serving as a subadviser to the Fund. </span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">The below bar chart and table illustrate the risks of investing in the Fund by showing changes in the Fund’s performance from calendar year to calendar year and comparing the Fund’s average annual returns to those of the MSCI ACWI Index (net) (a broad-based securities market index) and the Financial Times Stock Exchange European Public Real Estate Association / National Association of Real Estate Investment Trusts (“FTSE EPRA NAREIT”) Developed Index (net), which is relevant to the Fund because it has characteristics similar to the Fund’s investment strategies.</span> <span style="font-family:Arial;font-size:10pt;"> Fees and expenses </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">incurred at the contract level are not reflected in the bar chart or table. If these amounts were reflected, returns would be less than those shown. </span> <span style="font-family:Arial;font-size:10pt;">Of course, past </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">performance of the Fund is not necessarily an indication </span><span style="font-family:Arial;font-size:10pt;">of how the Fund will perform in the future.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;">During the period shown in the bar chart:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Highest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">December 31, 2023</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">15.70%</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Lowest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">March 31, 2020</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">-24.41%</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Year to Date Most </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Recent Quarter:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">June 30, 2026</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">10.72%</span> <span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Highest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span> 2023-12-31 0.1570 <span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Lowest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span> 2020-03-31 -0.2441 <span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Year to Date Most </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Recent Quarter:</span> 2026-06-30 0.1072 <span style="font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Average Annual Total Returns</span><span style="font-family:Arial;font-size:10pt;"> (For the periods ended December 31, 2025)</span> 0.0770 0.0177 0.0339 0.2234 0.1119 0.1172 0.0958 0.0276 0.0325 <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Investment Objective</span> <span style="color:#000000;font-family:Arial;font-size:10pt;">The Fund seeks high total return.</span> <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Fees and Expenses of the Fund</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">This table describes the fees and expenses that you may pay if you buy, hold and sell shares of the Fund. </span><span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">The table </span><span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">and the example below do not reflect the separate account fees charged in the variable annuity or variable life insurance policy (“Variable Contracts”) in which the Fund is offered.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> If separate account fees were </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">shown, the Fund’s annual operating expenses would be higher. Please see your Variable Contract prospectus for </span><span style="color:#000000;font-family:Arial;font-size:10pt;">more details on the separate account fees.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;text-decoration:underline;">Annual Fund Operating Expenses</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> (expenses that you </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">pay each year as a percentage of the value of your </span><span style="color:#000000;font-family:Arial;font-size:10pt;">investment)</span> 0.0050 0.0019 0.0069 -0.0006 0.0063 <span style="font-family:Arial;font-size:8pt;">September 30, 2027</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-style:italic;font-weight:bold;text-decoration:underline;">Expense Example</span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem or hold all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same (except that the Example incorporates any applicable fee waiver and/or expense limitation arrangements for only the first year). The Example does not reflect charges imposed by the Variable Contract. If the </span><span style="font-family:Arial;font-size:10pt;">separate account fees were reflected, the </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">expenses would be higher. See the Variable Contract prospectus for information on such charges. Although your actual costs may be higher or lower, based on these assumptions and the net expenses shown in the fee table, </span><span style="font-family:Arial;font-size:10pt;">your costs would be:</span> 64 215 378 853 <span style="color:#000000;font-family:Arial;font-size:10pt;font-style:italic;font-weight:bold;text-decoration:underline;">Portfolio Turnover</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). These costs, which are not reflected in annual fund operating expenses or in the Example, affect the </span><span style="color:#000000;font-family:Arial;font-size:10pt;">Fund’s performance.</span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">During the most recent fiscal year, the Fund’s portfolio </span><span style="font-family:Arial;font-size:10pt;">turnover rate was </span><span style="font-family:Arial;font-size:10pt;">55%</span><span style="font-family:Arial;font-size:10pt;"> of the average value of its portfolio.</span> 0.55 <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Principal Investment Strategies of the Fund</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">Under normal market conditions, the Fund invests in equity securities of companies in any country, fixed income (debt) securities of companies and governments of any country, or other instruments with similar economic characteristics, and in money market securities. There are no minimum or maximum percentage targets for each asset class, though under normal market conditions, the subadviser will direct 50% to 80% of the Fund’s assets to equity securities. The Fund’s subadviser, Franklin Advisers, Inc. (“Franklin Advisers”), manages the equity portion of the Fund’s assets and allocates the remainder of the portfolio to be managed by its affiliate, Brandywine Global Investment Management, LLC (“Brandywine Global”), the Fund’s sub-subadviser. Although the Fund seeks investments across a number of countries and sectors, from time to time, based on economic conditions, the Fund may have significant positions in particular </span><span style="color:#000000;font-family:Arial;font-size:10pt;">countries or sectors. </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">The equity securities in which the Fund invests are primarily common stock of large- and mid-capitalization companies included in the Morgan Stanley Capital International All Country World Index (the “MSCI ACWI Index”) and depositary receipts representing such stocks. As of </span><span style="font-family:Arial;font-size:10pt;">August 31, 2026, the market capitalization range of </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">the companies in the MSCI ACWI Index was </span><span style="font-family:Arial;font-size:10pt;">approximately $0.00 million to $5.096 trillion. </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">With respect to equity securities, the Fund seeks to achieve a lower level of risk and higher risk-adjusted performance than the MSCI ACWI Index over the long term through a multi-factor selection process employed by the Fund’s subadviser. The subadviser’s multi-factor selection process for equity securities is designed to select stocks for the Fund that have favorable exposure to quality, value, </span><span style="font-family:Arial;font-size:10pt;">sentiment, and alternative factors. Under </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">normal market conditions, the Fund will hold </span><span style="font-family:Arial;font-size:10pt;">200 to 650 of </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">the common stocks, or depositary receipts representing </span><span style="color:#000000;font-family:Arial;font-size:10pt;">such stocks, in the MSCI ACWI Index. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">With respect to the Fund’s fixed income securities, the Fund’s sub-subadviser follows a value-driven, active, strategic approach to portfolio decisions that considers duration, yield curve exposure, credit exposure, and sector weightings that are based upon the broad investment themes of its global macroeconomic research </span><span style="color:#000000;font-family:Arial;font-size:10pt;">platform as they apply to fixed income markets. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The sub-subadviser has broad discretion to invest in multiple types of fixed income securities of any maturity and duration. The Fund can seek investment opportunities anywhere in the world. Under normal market conditions, the Fund’s foreign currency exposure will be limited to 25% of the Fund’s fixed income assets. Alternatively, the Fund could invest more than 25% of its fixed income securities in bonds denominated in non-U.S. currencies if it uses derivatives strategies to hedge the non-U.S. currency exposure back to the U.S. dollar so that the Fund would have no more than 25% of its fixed income portfolio </span><span style="color:#000000;font-family:Arial;font-size:10pt;">exposed to non-U.S. currencies. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund may invest in securities that are rated in any category or unrated. Up to 15% of the Fund’s net assets may be invested in “high yield” or “junk” bonds (that is, securities rated below the Baa/BBB- categories or, if unrated, determined to be of comparable credit quality by </span><span style="color:#000000;font-family:Arial;font-size:10pt;">the sub-subadviser), which are considered speculative. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund may invest in asset-backed and mortgage-backed securities. The Fund will not invest more than 25% of its fixed income assets in asset-backed and mortgage-backed securities that are not issued or guaranteed by, or comprised of securities issued or guaranteed by, a U.S. government agency or U.S. government-sponsored entity. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">Under normal market conditions, the Fund expects to invest at least 40% of its net assets in foreign securities, including foreign equity securities and foreign sovereign debt securities. The Fund considers an issuer to be from a particular country (including the United States) or geographic region if: (i) its principal securities trading market is in that country or geographic region; (ii) the company derives the majority of its annual revenue or earnings or assets from goods produced, sales made or services performed in that country or geographic region; or (iii) it is organized under the laws of, or has a principal office in, that country or geographic region. Although the Fund generally invests in securities of issuers located in developed countries, the Fund may invest up to 50% of its total assets in securities of issuers located in emerging </span><span style="color:#000000;font-family:Arial;font-size:10pt;">markets. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund may invest in derivative instruments such as foreign currency forwards, currency options, bond futures, interest rate futures, equity futures, equity index futures, swaps (including interest rate, total return and inflation swaps), credit default swaps, credit default swap index products, instruments involved in currency risk management strategies, options, options on futures, structured credit products and currency index futures contracts. The Fund may use derivatives to enhance total return, as a means of providing additional exposure to certain types of investments, to hedge against fluctuations in securities prices, interest rates or currency exchange rates, to change the effective duration of its portfolio, as a cash flow management technique or as a substitute for the </span><span style="color:#000000;font-family:Arial;font-size:10pt;">purchase or sale of securities or currencies. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">In order to generate additional income, the Fund may lend portfolio securities to broker-dealers and other financial institutions provided that the value of the loaned securities does not exceed 30% of the Fund’s total assets. These loans earn income for the Fund and are collateralized by cash and securities issued or guaranteed by the U.S. </span><span style="color:#000000;font-family:Arial;font-size:10pt;">Government or its agencies or instrumentalities.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;">Shares of the Fund are not bank deposits and </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">are not guaranteed or insured by any bank, government entity or the Federal Deposit Insurance Corporation.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;"> If the </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">value of the assets of the Fund goes down, you could lose </span><span style="color:#000000;font-family:Arial;font-size:10pt;">money.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Management Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The investment style or strategy used </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">by a subadviser and sub-subadviser may fail to produce the intended result. A subadviser and sub-subadviser’s assessment of a particular security or company may </span><span style="color:#000000;font-family:Arial;font-size:10pt;">prove incorrect, resulting in losses or underperformance.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Emerging Markets Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> In addition to the risks </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">associated with investments in foreign securities, emerging market securities are subject to additional risks, which cause these securities generally to be more volatile </span><span style="color:#000000;font-family:Arial;font-size:10pt;">than securities of issuers located in developed countries.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Foreign Investment Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Investment in foreign </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">securities involves risks due to several factors, such as illiquidity, the lack of public information, changes in the </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">exchange rates between foreign currencies and the U.S. dollar, unfavorable political, social and legal developments, or economic and financial instability. Foreign companies are not subject to the U.S. accounting and financial reporting standards and may have riskier settlement procedures. U.S. investments that are denominated in foreign currencies or that are traded in foreign markets, or securities of U.S. companies that have significant foreign operations may be subject to foreign </span><span style="color:#000000;font-family:Arial;font-size:10pt;">investment risk.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Geographic Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> If the Fund invests a significant portion </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">of its assets in issuers located in a single country, a limited number of countries, or a particular geographic region, it assumes the risk that economic, political and social conditions in those countries or that region may have a </span><span style="color:#000000;font-family:Arial;font-size:10pt;">significant impact on its investment performance.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Equity Securities Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The Fund’s investments in equity </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">securities are subject to the risk that stock prices will fall and may underperform other asset classes. Individual stock prices fluctuate from day-to-day and may decline significantly. The prices of individual stocks may be negatively affected by poor company results or other factors affecting individual prices, as well as industry and/or economic trends and developments affecting industries </span><span style="color:#000000;font-family:Arial;font-size:10pt;">or the securities market as a whole.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Depositary Receipts Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;">Depositary receipts are </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">generally subject to the same risks as the foreign securities that they evidence or into which they may be converted. Depositary receipts may or may not be jointly sponsored by the underlying issuer. The issuers of unsponsored depositary receipts are not obligated to disclose information that is considered material in the United States. Therefore, there may be less information available regarding the issuers and there may not be a correlation between such information and the market value of the depositary receipts. Certain depositary receipts are not listed on an exchange and therefore may </span><span style="color:#000000;font-family:Arial;font-size:10pt;">be considered to be illiquid securities.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Factor-Based Investing Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> With respect to a strategy </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">that uses a factor-based process, there can be no assurance that the multi-factor selection process employed by the subadviser will enhance performance. Exposure to investment style factors may detract from performance in some market environments, which may </span><span style="color:#000000;font-family:Arial;font-size:10pt;">continue for prolonged periods.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Disciplined Strategy Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The Fund will not deviate </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">from its equity strategy (except to the extent necessary to comply with federal tax laws or other applicable laws). If the Fund is committed to a strategy that is unsuccessful, the Fund will not meet its investment goal. Because the Fund generally will not use certain techniques available to </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">other mutual funds to reduce stock market exposure, the Fund may be more susceptible to general market declines </span><span style="color:#000000;font-family:Arial;font-size:10pt;">than other mutual funds.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Credit Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The issuer of a fixed income security owned </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">by the Fund may be unable to make interest or principal </span><span style="color:#000000;font-family:Arial;font-size:10pt;">payments.</span> <span style="font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Interest Rate Risk.</span><span style="font-family:Arial;font-size:10pt;"> Fixed income securities may be </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">subject to volatility due to changes in interest rates. The value of fixed-income securities may decline when interest rates go up or increase when interest rates go down. The interest earned on fixed-income securities may decline when interest rates go down or increase when interest rates go up. Duration is a measure of interest rate risk that indicates how price-sensitive a bond is to changes in interest rates. Longer-term and lower coupon bonds tend to be more sensitive to changes in interest rates. For example, a bond with a duration of three years will decrease in value by approximately 3% if interest rates increase by 1%. Changing interest rates may have unpredictable effects on markets, may result in heightened market volatility, and could negatively impact the </span><span style="font-family:Arial;font-size:10pt;">Fund’s performance. Any future changes in monetary </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">policy made by central banks and/or their governments </span><span style="font-family:Arial;font-size:10pt;">are likely to affect the level of interest rates.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Currency Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Because the Fund’s foreign investments </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">are generally held in foreign currencies, the Fund could experience gains or losses based solely on changes in the exchange rate between foreign currencies and the U.S. </span><span style="color:#000000;font-family:Arial;font-size:10pt;">dollar. Such gains or losses may be substantial.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Derivatives Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The prices of derivatives may move in </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">unexpected ways due to the use of leverage and other factors and may result in increased volatility or losses. The Fund may not be able to terminate or sell derivative positions, and a liquid secondary market may not always exist for derivative positions. When currency forwards are used by the Fund for hedging purposes, there is a risk that due to imperfect correlations, the currency forwards will not fully hedge against adverse changes in foreign currency values or, under extreme market conditions, will not provide any hedging benefit. The successful use of currency forwards for non-hedging purposes usually depends on the portfolio managers’ ability to forecast movements in foreign currency values and may be speculative. Should these values move in unexpected ways, the Fund may not achieve the anticipated benefit from using currency forwards, and it may realize losses, </span><span style="color:#000000;font-family:Arial;font-size:10pt;">which could be significant.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Foreign Sovereign Debt Risk. </span><span style="color:#000000;font-family:Arial;font-size:10pt;">Foreign sovereign debt </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">securities are subject to the risk that a governmental entity may delay or refuse to pay interest or to repay principal on its sovereign debt, due, for example, to cash flow </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">problems, insufficient foreign currency reserves, political, social and economic considerations, the relative size of the governmental entity’s debt position in relation to the economy or the failure to put in place economic reforms required by the International Monetary Fund or other multilateral agencies. If a governmental entity defaults, it </span><span style="color:#000000;font-family:Arial;font-size:10pt;">may ask for more time in which to pay or for further loans.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Futures Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> A futures contract is considered a </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">derivative because it derives its value from the price of the underlying currency, security or financial index. The prices of futures contracts can be volatile and futures contracts may lack liquidity. In addition, there may be imperfect or even negative correlation between the price of a futures contract and the price of the underlying currency, security </span><span style="color:#000000;font-family:Arial;font-size:10pt;">or financial index.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Credit Default Swap Risk</span><span style="color:#000000;font-family:Arial;font-size:10pt;">. A credit default swap is an </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">agreement between two parties: a buyer of credit protection and a seller of credit protection. The buyer in a credit default swap agreement is obligated to pay the seller a periodic stream of payments over the term of the swap agreement. If no default or other designated credit event occurs, the seller of credit protection will have received a fixed rate of income throughout the term of the swap agreement. If a default or designated credit event does occur, the seller of credit protection must pay the buyer of credit protection the full value of the reference obligation. Credit default swaps increase counterparty risk when the Fund is the buyer. The absence of a central exchange or market for swap transactions has led, in some instances, to difficulties in trading and valuation, especially in the event of market disruptions. Recent legislation requires most swaps to be executed through a centralized exchange or regulated facility and be cleared through a regulated clearinghouse. The swap market could be disrupted or limited as a result of this legislation, which could adversely affect the Fund. Moreover, the establishment of a centralized exchange or market for swap transactions may not result in swaps being easier to </span><span style="color:#000000;font-family:Arial;font-size:10pt;">trade or value.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Junk Bond Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> High yielding, high risk fixed-income </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">securities (often referred to as “junk bonds”) may involve significantly greater credit risk, market risk and interest rate risk compared to higher rated fixed-income securities. Issuers of junk bonds are less secure financially and their securities are more sensitive to downturns in the economy. The market for junk bonds may not be as liquid as that for </span><span style="color:#000000;font-family:Arial;font-size:10pt;">more highly rated securities.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Mortgage-Backed Securities Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Mortgage-backed </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">securities are similar to other debt securities in that they are subject to credit risk and interest rate risk. Mortgage-backed securities may be issued or guaranteed by the U.S. Government, its agencies or instrumentalities or may </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">be non-guaranteed securities issued by private issuers. These securities are also subject to the risk that issuers will prepay the principal more quickly or more slowly than expected, which could cause the Fund to invest the proceeds in less attractive investments or increase the </span><span style="color:#000000;font-family:Arial;font-size:10pt;">volatility of their prices.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Asset-Backed Securities Risk. </span><span style="color:#000000;font-family:Arial;font-size:10pt;">Asset-backed securities </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">are bonds or notes that are normally supported by a specific property. If the issuer fails to pay the interest or return the principal when the bond matures, then the issuer must give the property to the bondholders or noteholders. Examples of assets supporting asset-backed securities include credit card receivables, retail installment loans, home equity loans, auto loans, and </span><span style="color:#000000;font-family:Arial;font-size:10pt;">manufactured housing loans.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Income Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Because the Fund can only distribute what </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">it earns, the Fund’s distributions to shareholders may decline when prevailing interest rates fall or when the </span><span style="color:#000000;font-family:Arial;font-size:10pt;">Fund experiences defaults on debt securities it holds.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Counterparty Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Counterparty risk is the risk that a </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">counterparty to a security, loan or derivative held by the Fund becomes bankrupt or otherwise fails to perform its obligations due to financial difficulties. The Fund may experience significant delays in obtaining any recovery in a bankruptcy or other reorganization proceeding, and there may be no recovery or limited recovery in such </span><span style="color:#000000;font-family:Arial;font-size:10pt;">circumstances.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Liquidity Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> If the active trading market for certain </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">securities becomes limited or non-existent, it can become more difficult to sell the securities at or near their perceived value. This may cause the value of such </span><span style="color:#000000;font-family:Arial;font-size:10pt;">securities and the Fund’s share price to fall dramatically.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Market Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The Fund’s share price can fall because of </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">weakness in the broad market, a particular industry, or specific holdings or due to adverse social, political or economic developments here or abroad, changes in investor psychology, technological disruptions, or heavy institutional selling and other conditions or events (including, for example, military confrontations, war, terrorism, trade wars, disease/virus outbreaks and epidemics). The prices of individual securities may fluctuate, sometimes dramatically, from day to day. The prices of stocks and other equity securities tend to be </span><span style="color:#000000;font-family:Arial;font-size:10pt;">more volatile than those of fixed-income securities.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Large-Cap Companies Risk</span><span style="color:#000000;font-family:Arial;font-size:10pt;">. Large-cap companies tend </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">to go in and out of favor based on market and economic conditions and tend to be less volatile than companies with smaller market capitalizations. In exchange for this potentially lower risk, the Fund’s value may not rise as much as the value of funds that emphasize smaller </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">capitalization companies. Larger, more established companies may be unable to respond quickly to new competitive challenges, such as changes in technology and consumer tastes. Larger companies also may not be able to attain the high growth rate of successful smaller companies, particularly during extended periods of </span><span style="color:#000000;font-family:Arial;font-size:10pt;">economic expansion.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Mid-Cap Company Risk. </span><span style="color:#000000;font-family:Arial;font-size:10pt;">Investing in mid-cap companies </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">carries the risk that due to current market conditions these companies may be out of favor with investors. Stocks of mid-cap companies may be more volatile than those of larger companies due to, among other reasons, narrower product lines, more limited financial resources and fewer </span><span style="color:#000000;font-family:Arial;font-size:10pt;">experienced managers.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Money Market Securities Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> An investment in the </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">Fund is subject to the risk that the value of its investments in high-quality short-term obligations (“money market securities”) may be subject to changes in interest rates, changes in the rating of any money market security and in the ability of an issuer to make payments of interest and </span><span style="color:#000000;font-family:Arial;font-size:10pt;">principal.</span> <span style="font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Currency Management Strategies Risk.</span><span style="font-family:Arial;font-size:10pt;"> Currency </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">management strategies may substantially change the Fund’s exposure to currency exchange rates and could result in losses to the Fund if currencies do not perform as the subadviser expects. In addition, currency management strategies, to the extent that they reduce the Fund’s exposure to currency risks, may also reduce the Fund’s ability to benefit from favorable changes in currency exchange rates. Using currency management strategies for purposes other than hedging further increases the Fund’s exposure to foreign investment losses. Currency markets generally are not as regulated as securities markets. In addition, currency rates may fluctuate significantly over short periods of time, and can </span><span style="font-family:Arial;font-size:10pt;">reduce returns.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Securities Lending Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Engaging in securities lending </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">could increase the market and credit risk for Fund investments. The Fund may lose money if it does not recover borrowed securities, the value of the collateral falls, or the value of investments made with cash collateral declines. The Fund’s loans will be collateralized by securities issued or guaranteed by the U.S. Government or its agencies and instrumentalities, which subjects the Fund to the credit risk of the U.S. Government or the issuing federal agency or instrumentality. If the value of either the cash collateral or the Fund’s investments of the cash collateral falls below the amount owed to a borrower, </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">the Fund also may incur losses that exceed the amount it earned on lending the security. Securities lending also involves the risks of delay in receiving additional collateral or possible loss of rights in the collateral if the borrower fails. Another risk of securities lending is the risk that the loaned portfolio securities may not be available to the Fund on a timely basis and the Fund may therefore lose </span><span style="color:#000000;font-family:Arial;font-size:10pt;">the opportunity to sell the securities at a desirable price.</span> <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Performance Information</span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">The below bar chart and table illustrate the risks of investing in the Fund by showing changes in the Fund’s performance from calendar year to calendar year and comparing the Fund’s average annual returns to those of the MSCI ACWI Index (net) (a broad-based securities market index) and a blended index. The blended index is comprised of the </span><span style="font-family:Arial;font-size:10pt;">60% MSCI ACWI Index (net) and the 40% Bloomberg Global Aggregate Index (USD hedged) </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">(the “Glb Strat Blended Index”). The Glb Strat Blended Index is relevant to the Fund because they share characteristics similar to the Fund’s investment strategies.</span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">Fees and expenses incurred at the contract level are not reflected in the bar chart or table. If these amounts were reflected, returns would be less than those shown. </span><span style="font-family:Arial;font-size:10pt;">Of </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">course, past performance of the Fund is not necessarily </span><span style="font-family:Arial;font-size:10pt;">an indication of how the Fund will perform in the future.</span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">Effective December 7, 2021, Franklin Advisers manages the equity assets of the Fund and Brandywine Global manages the fixed income assets of the Fund. From January 29, 2020 through December 6, 2021, Franklin Advisers managed all of the assets of the Fund. Prior to January 29, 2020, Templeton Investment Counsel, LLC managed the equity assets of the Fund and Franklin </span><span style="color:#000000;font-family:Arial;font-size:10pt;">Advisers managed the fixed income assets of the Fund. </span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">The below bar chart and table illustrate the risks of investing in the Fund by showing changes in the Fund’s performance from calendar year to calendar year and comparing the Fund’s average annual returns to those of the MSCI ACWI Index (net) (a broad-based securities market index) and a blended index. The blended index is comprised of the </span><span style="font-family:Arial;font-size:10pt;">60% MSCI ACWI Index (net) and the 40% Bloomberg Global Aggregate Index (USD hedged) </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">(the “Glb Strat Blended Index”). The Glb Strat Blended Index is relevant to the Fund because they share characteristics similar to the Fund’s investment strategies.</span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">Fees and expenses incurred at the contract level are not reflected in the bar chart or table. If these amounts were reflected, returns would be less than those shown. </span> <span style="font-family:Arial;font-size:10pt;">Of </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">course, past performance of the Fund is not necessarily </span><span style="font-family:Arial;font-size:10pt;">an indication of how the Fund will perform in the future.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;">During the period shown in the bar chart:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Highest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">December 31, 2023</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">9.83%</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Lowest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">March 31, 2020</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">-14.67%</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Year to Date Most </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Recent Quarter:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">June 30, 2026</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">9.47%</span> <span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Highest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span> 2023-12-31 0.0983 <span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Lowest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span> 2020-03-31 -0.1467 <span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Year to Date Most </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Recent Quarter:</span> 2026-06-30 0.0947 <span style="font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Average Annual Total Returns</span><span style="font-family:Arial;font-size:10pt;"> (For the periods ended December 31, 2025)</span> 0.2073 0.0718 0.0585 0.2234 0.1119 0.1172 0.1515 0.0688 0.0813 <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Investment Objective</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund seeks high current income and protection of capital through investments in intermediate and long-term </span><span style="color:#000000;font-family:Arial;font-size:10pt;">U.S. Government debt securities.</span> <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Fees and Expenses of the Fund</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">This table describes the fees and expenses that you may pay if you buy, hold and sell shares of the Fund. </span><span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">The table </span><span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">and the example below do not reflect the separate account fees charged in the variable annuity or variable life insurance policy (“Variable Contracts”) in which the Fund is offered.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> If separate account fees were </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">shown, the Fund’s annual operating expenses would be higher. Please see your Variable Contract prospectus for </span><span style="color:#000000;font-family:Arial;font-size:10pt;">more details on the separate account fees.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;text-decoration:underline;">Annual Fund Operating Expenses</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> (expenses that you </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">pay each year as a percentage of the value of your </span><span style="color:#000000;font-family:Arial;font-size:10pt;">investment)</span> 0.0050 0.0017 0.0067 -0.0011 0.0056 <span style="font-family:Arial;font-size:8pt;">September 30, 2027</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-style:italic;font-weight:bold;text-decoration:underline;">Expense Example</span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem or hold all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same (except that the Example incorporates any applicable fee waiver and/or expense limitation arrangements for only the first year). The Example does not reflect charges imposed by the Variable Contract. If the </span><span style="font-family:Arial;font-size:10pt;">separate account fees were reflected, the </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">expenses would be higher. See the Variable Contract prospectus for information on such charges. Although your actual costs may be higher or lower, based on these </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">assumptions and the net expenses shown in the fee table, </span><span style="color:#000000;font-family:Arial;font-size:10pt;">your costs would be:</span> 57 203 362 824 <span style="color:#000000;font-family:Arial;font-size:10pt;font-style:italic;font-weight:bold;text-decoration:underline;">Portfolio Turnover</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). These costs, which are not reflected in annual fund operating expenses or in the Example, affect the </span><span style="color:#000000;font-family:Arial;font-size:10pt;">Fund’s performance.</span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">During the most recent fiscal year, the Fund’s portfolio </span><span style="font-family:Arial;font-size:10pt;">turnover rate was </span><span style="font-family:Arial;font-size:10pt;">59%</span><span style="font-family:Arial;font-size:10pt;"> of the average value of its portfolio.</span> 0.59 <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Principal Investment Strategies of the Fund</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund invests at least 80% of net assets in intermediate- and long-term U.S. Government and </span><span style="color:#000000;font-family:Arial;font-size:10pt;">government-sponsored debt securities.</span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund may also invest in mortgage-backed securities, asset-backed securities, repurchase agreements, high quality corporate debt securities and high quality domestic money market securities. In addition, the Fund may invest up to 20% of its net assets in high quality foreign </span><span style="color:#000000;font-family:Arial;font-size:10pt;">investments payable in U.S. dollars. </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">The Fund has flexibility to invest in derivatives, including futures contracts, options, and swaps, in order to hedge various investments, for risk management purposes and/or to increase income or gain to the Fund. Derivatives, which are instruments which have a value based on another instrument, exchange rate or index, may also be used as substitutes for securities in which the Fund can invest. In particular, the Fund may use futures contracts, including treasury futures, options and swaps to manage cash inflows and duration and as substitutes for securities </span><span style="font-family:Arial;font-size:10pt;">in which the Fund may invest. </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">In order to generate additional income, the Fund may lend portfolio securities to broker-dealers and other financial institutions provided that the value of the loaned securities does not exceed 30% of the Fund’s total assets. These loans earn income for the Fund and are collateralized by cash and securities issued or guaranteed by the U.S. </span><span style="font-family:Arial;font-size:10pt;">Government or its agencies or instrumentalities.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund invests at least 80% of net assets in intermediate- and long-term U.S. Government and </span><span style="color:#000000;font-family:Arial;font-size:10pt;">government-sponsored debt securities.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;">Shares of the Fund are not bank deposits and </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">are not guaranteed or insured by any bank, government entity or the Federal Deposit Insurance Corporation.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;"> If the </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">value of the assets of the Fund goes down, you could lose </span><span style="color:#000000;font-family:Arial;font-size:10pt;">money.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">U.S. Government Obligations Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> U.S. Treasury </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">obligations are backed by the “full faith and credit” of the U.S. Government and are generally considered to have low credit risk. Unlike U.S. Treasury obligations, securities issued or guaranteed by federal agencies or authorities and U.S. Government-sponsored instrumentalities or enterprises may or may not be backed by the full faith and credit of the U.S. Government and are therefore subject to greater credit risk than securities issued or guaranteed by </span><span style="color:#000000;font-family:Arial;font-size:10pt;">the U.S. Treasury.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Credit Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The Fund may suffer losses if the issuer of </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">a fixed income security owned by the Fund is unable to </span><span style="color:#000000;font-family:Arial;font-size:10pt;">make interest or principal payments.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Interest Rate Risk. </span><span style="color:#000000;font-family:Arial;font-size:10pt;">The value of fixed-income securities </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">may decline when interest rates go up or increase when interest rates go down. The interest earned on fixed-income securities may decline when interest rates go down or increase when interest rates go up. Longer-term and lower coupon bonds tend to be more sensitive to changes in interest rates. The Fund may be subject to a greater risk of rising interest rates due to the current period of historically low rates and the effect of potential government fiscal policy initiatives and resulting market </span><span style="color:#000000;font-family:Arial;font-size:10pt;">reaction to these initiatives.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Call or Prepayment Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> During periods of falling </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">interest rates, a bond issuer may “call” a bond to repay it before its maturity date. The Fund may only be able to invest the bond’s proceeds at lower interest rates, </span><span style="color:#000000;font-family:Arial;font-size:10pt;">resulting in a decline in the Fund’s income.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Currency Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Because the Fund’s foreign investments </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">are generally held in foreign currencies, the Fund could experience gains or losses based solely on changes in the exchange rate between foreign currencies and the U.S. </span><span style="color:#000000;font-family:Arial;font-size:10pt;">dollar. Such gains or losses may be substantial.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Foreign Investment Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Investment in foreign </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">securities involves risks due to several factors, such as illiquidity, the lack of public information, changes in the exchange rates between foreign currencies and the U.S. dollar, unfavorable political, social and legal developments, or economic and financial instability. Foreign companies are not subject to the U.S. accounting and financial reporting standards and may have riskier settlement procedures. U.S. investments that are </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">denominated in foreign currencies or that are traded in foreign markets, or securities of U.S. companies that have significant foreign operations may be subject to foreign </span><span style="color:#000000;font-family:Arial;font-size:10pt;">investment risk.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Market Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The Fund’s share price can fall because of </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">weakness in the broad market, a particular industry, or specific holdings or due to adverse social, political or economic developments here or abroad, changes in investor psychology, technological disruptions, or heavy institutional selling and other conditions or events (including, for example, military confrontations, war, terrorism, trade wars, disease/virus outbreaks and epidemics). The prices of individual securities may fluctuate, sometimes dramatically, from day to day. The prices of stocks and other equity securities tend to be </span><span style="color:#000000;font-family:Arial;font-size:10pt;">more volatile than those of fixed-income securities.</span> <span style="font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Derivatives Risk. </span><span style="font-family:Arial;font-size:10pt;">The prices of derivatives may move in </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">unexpected ways due to the use of leverage and other factors and may result in increased volatility or losses. The Fund may not be able to terminate or sell derivative positions, and a liquid secondary market may not always </span><span style="font-family:Arial;font-size:10pt;">exist for derivative positions.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Mortgage-Backed Securities Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Mortgage-backed </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">securities are similar to other debt securities in that they are subject to credit risk and interest rate risk. Mortgage-backed securities may be issued or guaranteed by the U.S. Government, its agencies or instrumentalities or may be non‑guaranteed securities issued by private issuers. These securities are also subject to the risk that issuers will prepay the principal more quickly or more slowly than expected, which could cause the Fund to invest the proceeds in less attractive investments or increase the </span><span style="color:#000000;font-family:Arial;font-size:10pt;">volatility of their prices.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Asset-Backed Securities Risk. </span><span style="color:#000000;font-family:Arial;font-size:10pt;">Asset-backed securities </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">are bonds or notes that are normally supported by a specific property. If the issuer fails to pay the interest or return the principal when the bond matures, then the issuer must give the property to the bondholders or noteholders. Examples of assets supporting asset-backed securities include credit card receivables, retail installment loans, home equity loans, auto loans, and </span><span style="color:#000000;font-family:Arial;font-size:10pt;">manufactured housing loans.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Securities Lending Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Engaging in securities lending </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">could increase the market and credit risk for Fund investments. The Fund may lose money if it does not recover borrowed securities, the value of the collateral falls, or the value of investments made with cash collateral declines. The Fund’s loans will be collateralized by securities issued or guaranteed by the U.S. Government or its agencies and instrumentalities, which subjects the Fund to the credit risk of the U.S. Government or the </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">issuing federal agency or instrumentality. If the value of either the cash collateral or the Fund’s investments of the cash collateral falls below the amount owed to a borrower, the Fund also may incur losses that exceed the amount it earned on lending the security. Securities lending also involves the risks of delay in receiving additional collateral or possible loss of rights in the collateral if the borrower fails. Another risk of securities lending is the risk that the loaned portfolio securities may not be available to the Fund on a timely basis and the Fund may therefore lose </span><span style="color:#000000;font-family:Arial;font-size:10pt;">the opportunity to sell the securities at a desirable price.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Money Market Securities Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> An investment in the </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">Fund is subject to the risk that the value of its investments in high-quality short-term obligations (“money market securities”) may be subject to changes in interest rates, changes in the rating of any money market security and in the ability of an issuer to make payments of interest and </span><span style="color:#000000;font-family:Arial;font-size:10pt;">principal.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Repurchase Agreements Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Repurchase </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">agreements are agreements in which the seller of a security to the Fund agrees to repurchase that security from the Fund at a mutually agreed upon price and date. Repurchase agreements carry the risk that the counterparty may not fulfill its obligations under the agreement. This could cause the Fund’s income and the </span><span style="color:#000000;font-family:Arial;font-size:10pt;">value of the Fund to decline.</span> <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Performance Information</span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">The below bar chart and table illustrate the risks of investing in the Fund by showing changes in the Fund’s performance from calendar year to calendar year and comparing the Fund’s average annual returns to those of the Bloomberg U.S. Aggregate Bond Index (a broad-based securities market index) and the Bloomberg U.S. Government Bond Index, which is relevant to the Fund because it has characteristics similar to the Fund’s investment strategies.</span><span style="font-family:Arial;font-size:10pt;"> Fees and expenses incurred at the </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">contract level are not reflected in the bar chart or table. If these amounts were reflected, returns would be less than </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">those shown. </span><span style="color:#000000;font-family:Arial;font-size:10pt;">Of course, past performance of the Fund is </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">not necessarily an indication of how the Fund will perform </span><span style="color:#000000;font-family:Arial;font-size:10pt;">in the future.</span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">The below bar chart and table illustrate the risks of investing in the Fund by showing changes in the Fund’s performance from calendar year to calendar year and comparing the Fund’s average annual returns to those of the Bloomberg U.S. Aggregate Bond Index (a broad-based securities market index) and the Bloomberg U.S. Government Bond Index, which is relevant to the Fund because it has characteristics similar to the Fund’s investment strategies.</span> <span style="font-family:Arial;font-size:10pt;"> Fees and expenses incurred at the </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">contract level are not reflected in the bar chart or table. If these amounts were reflected, returns would be less than </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">those shown. </span> <span style="color:#000000;font-family:Arial;font-size:10pt;">Of course, past performance of the Fund is </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">not necessarily an indication of how the Fund will perform </span><span style="color:#000000;font-family:Arial;font-size:10pt;">in the future.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;">During the period shown in the bar chart:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Highest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">December 31, 2023</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">6.01%</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Lowest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">March 31, 2022</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">-5.02%</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Year to Date Most </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Recent Quarter:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">June 30, 2026</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">0.33%</span> <span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Highest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span> 2023-12-31 0.0601 <span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Lowest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span> 2022-03-31 -0.0502 <span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Year to Date Most </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Recent Quarter:</span> 2026-06-30 0.0033 <span style="font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Average Annual Total Returns</span><span style="font-family:Arial;font-size:10pt;"> (For the periods ended December 31, 2025)</span> 0.0666 -0.0049 0.0141 0.0730 -0.0036 0.0201 0.0631 -0.0094 0.0138 <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Investment Objective</span> <span style="color:#000000;font-family:Arial;font-size:10pt;">The Fund seeks long-term capital growth.</span> <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Fees and Expenses of the Fund</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">This table describes the fees and expenses that you may pay if you buy, hold and sell shares of the Fund. </span><span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">The table </span><span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">and the example below do not reflect the separate account fees charged in the variable annuity or variable life insurance policy (“Variable Contracts”) in which the Fund is offered.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> If separate account fees were </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">shown, the Fund’s annual operating expenses would be higher. Please see your Variable Contract prospectus for </span><span style="color:#000000;font-family:Arial;font-size:10pt;">more details on the separate account fees.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;text-decoration:underline;">Annual Fund Operating Expenses</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> (expenses that you </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">pay each year as a percentage of the value of your </span><span style="color:#000000;font-family:Arial;font-size:10pt;">investment)</span> 0.0067 0.0010 0.0077 -0.0016 0.0061 <span style="font-family:Arial;font-size:8pt;">September 30, 2027</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-style:italic;font-weight:bold;text-decoration:underline;">Expense Example</span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem or hold all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same (except that the Example incorporates any applicable fee waiver and/or expense limitation arrangements for only the first year). The Example does not reflect charges imposed by the Variable Contract. If the </span><span style="font-family:Arial;font-size:10pt;">separate account fees were reflected, the </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">expenses would be higher. See the Variable Contract prospectus for information on such charges. Although your actual costs may be higher or lower, based on these assumptions and the net expenses shown in the fee table, </span><span style="font-family:Arial;font-size:10pt;">your costs would be:</span> 62 230 412 939 <span style="color:#000000;font-family:Arial;font-size:10pt;font-style:italic;font-weight:bold;text-decoration:underline;">Portfolio Turnover</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). These costs, which are not reflected in annual fund operating expenses or in the Example, affect the </span><span style="color:#000000;font-family:Arial;font-size:10pt;">Fund’s performance.</span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">During the most recent fiscal year, the Fund’s portfolio </span><span style="font-family:Arial;font-size:10pt;">turnover rate was </span><span style="font-family:Arial;font-size:10pt;">88%</span><span style="font-family:Arial;font-size:10pt;"> of the average value of its portfolio.</span> 0.88 <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Principal Investment Strategies of the Fund</span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">The Fund attempts to achieve its investment objective by investing, under normal circumstances, at least 80% of its net assets in securities of growth companies.</span><span style="font-family:Arial;font-size:10pt;">For </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">purposes of the Fund’s 80% investment policy, a company is considered to be a growth company if it: (i) issues securities that are represented in a third-party growth-style index or that are classified as a growth company by a third-party vendor; or (ii) meets a relevant equity market measurement in at least one “growth metric” similar to those commonly used by third-party index providers or third-party vendors in growth classifications, such as earnings growth, price-to-earnings or sales growth, </span><span style="font-family:Arial;font-size:10pt;">among others.</span><span style="font-family:Arial;font-size:10pt;">Equity securities in which the Fund may invest consist of </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">common stock and American Depositary Receipts (“ADRs”). Within the universe of growth companies, the Fund </span><span style="font-family:Arial;font-size:10pt;">primarily invests in common stock of companies that </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">are selected based on such factors as strong earnings, strong sales and revenue growth and capital appreciation potential. The Fund will emphasize common stock of companies with mid</span><span style="font-family:Arial;font-size:10pt;">- to large-stock market capitalizations; </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">however, the Fund also may invest in the common stock of small companies. The Fund </span><span style="font-family:Arial;font-size:10pt;">may invest without limitation </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">in the securities of foreign companies in the form of ADRs. In addition to ADRs, the Fund may also invest up to 20% of its total assets in securities of foreign companies, </span><span style="font-family:Arial;font-size:10pt;">including companies located in emerging markets. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">VALIC is the Fund’s investment adviser and BlackRock Investment Management, LLC (“BlackRock”) is the Fund’s subadviser. Approximately 25% of the Fund’s assets will be allocated to a passively managed strategy (the “Passive Strategy”), which seeks to track the Russell 1000® Growth Index (the “Underlying Index”), and the remainder of the Fund’s assets will be allocated to an actively managed strategy (the “Active Strategy”). The Fund’s target allocations among the strategies are subject to change at the discretion of VALIC, and actual </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">allocations could vary substantially from the target </span><span style="color:#000000;font-family:Arial;font-size:10pt;">allocations due to market valuation changes. </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">The Passive Strategy primarily seeks to track the Underlying Index by investing in all or substantially all of the stocks included in the Underlying Index, a strategy known as “replication.” In managing the Passive Strategy, the subadviser may, however, utilize an “optimization” strategy in circumstances in which replication is difficult or impossible. The goal of optimization is to select stocks which ensure that characteristics such as industry weightings, average market capitalizations and fundamental characteristics (e.g., price</span><span style="font-family:Arial;font-size:10pt;">-to-book, price-to-earnings,</span><span style="font-family:Arial;font-size:10pt;margin-left:0%;"> debt</span><span style="font-family:Arial;font-size:10pt;">-to-asset ratios and dividend yields) closely </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">approximate those of the Underlying Index. The subadviser may use derivatives in seeking to track the Underlying Index, including futures and total return swaps. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">In managing the Active Strategy, the subadviser selects not less than 25 to not more than 45 companies through a process of both top‑down macro-economic analysis of economic and business conditions, and bottom‑up analysis of the business fundamentals of individual companies. Stocks are selected from a universe of companies that the subadviser believes have above average growth potential. The subadviser will make investment decisions based on judgments regarding several valuation parameters relative to anticipated rates of growth in earnings and potential rates of return on </span><span style="color:#000000;font-family:Arial;font-size:10pt;">equity. </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">From time to time, the Fund may have significant investments in particular sectors, including the </span><span style="font-family:Arial;font-size:10pt;">information technology sector. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">In order to generate additional income, the Fund may lend portfolio securities to broker-dealers and other financial institutions provided that the value of the loaned securities does not exceed 30% of the Fund’s total assets. These loans earn income for the Fund and are collateralized by cash and securities issued or guaranteed by the U.S. </span><span style="color:#000000;font-family:Arial;font-size:10pt;">Government or its agencies or instrumentalities. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund is a non‑diversified fund, which means that it may invest in a smaller number of issuers than a </span><span style="color:#000000;font-family:Arial;font-size:10pt;">diversified fund.</span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">The Fund attempts to achieve its investment objective by investing, under normal circumstances, at least 80% of its net assets in securities of growth companies.</span> <span style="font-family:Arial;font-size:10pt;">For </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">purposes of the Fund’s 80% investment policy, a company is considered to be a growth company if it: (i) issues securities that are represented in a third-party growth-style index or that are classified as a growth company by a third-party vendor; or (ii) meets a relevant equity market measurement in at least one “growth metric” similar to those commonly used by third-party index providers or third-party vendors in growth classifications, such as earnings growth, price-to-earnings or sales growth, </span><span style="font-family:Arial;font-size:10pt;">among others.</span> <span style="font-family:Arial;font-size:10pt;">For </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">purposes of the Fund’s 80% investment policy, a company is considered to be a growth company if it: (i) issues securities that are represented in a third-party growth-style index or that are classified as a growth company by a third-party vendor; or (ii) meets a relevant equity market measurement in at least one “growth metric” similar to those commonly used by third-party index providers or third-party vendors in growth classifications, such as earnings growth, price-to-earnings or sales growth, </span><span style="font-family:Arial;font-size:10pt;">among others.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;">Shares of the Fund are not bank deposits and </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">are not guaranteed or insured by any bank, government </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">entity or the Federal Deposit Insurance Corporation.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;"> If the </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">value of the assets of the Fund goes down, you could lose </span><span style="color:#000000;font-family:Arial;font-size:10pt;">money.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Index Risk. </span><span style="color:#000000;font-family:Arial;font-size:10pt;">In attempting to track the performance of the </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">index, the Fund may be more susceptible to adverse developments concerning a particular security, company or industry because the Fund generally will not use any </span><span style="color:#000000;font-family:Arial;font-size:10pt;">defensive strategies to mitigate its risk exposure.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Failure to Match Index Performance Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The ability of </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">the Fund to match the performance of the Index may be affected by, among other things, changes in securities markets, the manner in which performance of the Index is calculated, changes in the composition of the Index, the amount and timing of cash flows into and out of the Fund, commissions, portfolio expenses, and any differences in the pricing of securities by the Fund and the Index. When the Fund employs an “optimization” strategy, the Fund is subject to an increased risk of tracking error, in that the securities selected in the aggregate for the Fund may </span><span style="color:#000000;font-family:Arial;font-size:10pt;">perform differently than the Index.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Management Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The investment style or strategy used </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">by a subadviser may fail to produce the intended result. A subadviser’s assessment of a particular security or company may prove incorrect, resulting in losses or </span><span style="color:#000000;font-family:Arial;font-size:10pt;">underperformance.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Dividend-paying Stocks Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> There is no guarantee </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">that the issuers of the stocks held by the Fund will declare dividends in the future or that, if dividends are declared, they will remain at their current levels or increase over time. Dividend-paying stocks may not participate in a broad market advance to the same degree as other stocks, and a sharp rise in interest rates or economic downturn could cause a company to unexpectedly reduce </span><span style="color:#000000;font-family:Arial;font-size:10pt;">or eliminate its dividend.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Equity Securities Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The Fund’s investments in equity </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">securities are subject to the risk that stock prices will fall and may underperform other asset classes. Individual stock prices fluctuate from day-to-day and may decline significantly. The prices of individual stocks may be negatively affected by poor company results or other factors affecting individual prices, as well as industry and/or economic trends and developments affecting industries </span><span style="color:#000000;font-family:Arial;font-size:10pt;">or the securities market as a whole.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Currency Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Because the Fund’s foreign investments </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">are generally held in foreign currencies, the Fund could experience gains or losses based solely on changes in the </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">exchange rate between foreign currencies and the U.S. </span><span style="color:#000000;font-family:Arial;font-size:10pt;">dollar. Such gains or losses may be substantial.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Derivatives Risk. </span><span style="color:#000000;font-family:Arial;font-size:10pt;">The prices of derivatives may move in </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">unexpected ways due to the use of leverage and other factors and may result in increased volatility or losses. The Fund may not be able to terminate or sell derivative positions, and a liquid secondary market may not always </span><span style="color:#000000;font-family:Arial;font-size:10pt;">exist for derivative positions.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Foreign Investment Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Investment in foreign </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">securities involves risks due to several factors, such as illiquidity, the lack of public information, changes in the exchange rates between foreign currencies and the U.S. dollar, unfavorable political, social and legal developments, or economic and financial instability. Foreign companies are not subject to the U.S. accounting and financial reporting standards and may have riskier settlement procedures. U.S. investments that are denominated in foreign currencies or that are traded in foreign markets, or securities of U.S. companies that have significant foreign operations may be subject to foreign </span><span style="color:#000000;font-family:Arial;font-size:10pt;">investment risk.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Depositary Receipts Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;">Depositary receipts are </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">generally subject to the same risks as the foreign securities that they evidence or into which they may be converted. Depositary receipts may or may not be jointly sponsored by the underlying issuer. The issuers of unsponsored depositary receipts are not obligated to disclose information that is considered material in the United States. Therefore, there may be less information available regarding the issuers and there may not be a correlation between such information and the market value of the depositary receipts. Certain depositary receipts are not listed on an exchange and therefore may </span><span style="color:#000000;font-family:Arial;font-size:10pt;">be considered to be illiquid securities.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Emerging Markets Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Investments in emerging </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">markets are subject to all of the risks of investments in foreign securities, generally to a greater extent than in developed markets, and additional risks as well. Generally, the economic, social, legal, and political structures in emerging market countries are less diverse, mature and stable than those in developed countries. As a result, investments in emerging market securities tend to be more volatile than investments in developed countries. Unlike most developed countries, emerging market countries may impose restrictions on foreign investment. These countries may also impose confiscatory taxes on investment proceeds or otherwise restrict the ability of </span><span style="color:#000000;font-family:Arial;font-size:10pt;">foreign investors to withdraw their money at will.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Focused Fund Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The Fund, because it may invest in </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">a limited number of companies, may have more volatility in its net asset value and is considered to have more risk </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">than a portfolio that invests in a greater number of companies because changes in the value of a single security may have a more significant effect, either negative or positive, on the Fund’s net asset value. To the extent the Fund invests its assets in fewer securities, the Fund is subject to greater risk of loss if any of those </span><span style="color:#000000;font-family:Arial;font-size:10pt;">securities decline in price.</span> <span style="font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Growth Style Risk.</span><span style="font-family:Arial;font-size:10pt;"> Generally, “growth” stocks are stocks </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">of companies that </span><span style="font-family:Arial;font-size:10pt;">have anticipated earnings ranging from </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">steady to accelerated growth. Many investors buy growth stocks because of anticipated superior earnings growth, but earnings disappointments often result in sharp price declines. Growth companies usually invest a high portion of earnings in their own businesses so their stocks may lack the dividends that can cushion share prices in a down market. In addition, the value of growth stocks may be more sensitive to changes in current or expected earnings than the value of other stocks, because growth stocks </span><span style="font-family:Arial;font-size:10pt;">trade at higher prices relative to current earnings.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Large- and Mid-Cap Companies Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Investing in large- </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">and mid-cap companies carries the risk that due to current market conditions these companies may be out of favor with investors. Large-cap companies may be unable to respond quickly to new competitive challenges or attain the high growth rate of successful smaller companies. Stocks of mid-cap companies may be more volatile than those of larger companies due to, among other reasons, narrower product lines, more limited financial resources </span><span style="color:#000000;font-family:Arial;font-size:10pt;">and fewer experienced managers.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Small-Cap Company Risk. </span><span style="color:#000000;font-family:Arial;font-size:10pt;">Investing in small-cap </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">companies carries the risk that due to current market conditions these companies may be out of favor with investors. Small companies often are in the early stages of development with limited product lines, markets, or financial resources and managements lacking depth and experience, which may cause their stock prices to be more volatile than those of larger companies. Small company stocks may be less liquid yet subject to abrupt or erratic price movements. It may take a substantial period of time before the Fund realizes a gain on an investment in a </span><span style="color:#000000;font-family:Arial;font-size:10pt;">small-cap company, if it realizes any gain at all.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Market Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The Fund’s share price can fall because of </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">weakness in the broad market, a particular industry, or specific holdings or due to adverse social, political or economic developments here or abroad, changes in investor psychology, technological disruptions, or heavy institutional selling and other conditions or events (including, for example, military confrontations, war, terrorism, trade wars, disease/virus outbreaks and epidemics). The prices of individual securities may fluctuate, sometimes dramatically, from day to day. The </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">prices of stocks and other equity securities tend to be </span><span style="color:#000000;font-family:Arial;font-size:10pt;">more volatile than those of fixed-income securities.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Non-Diversification Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Because the Fund may invest </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">in a smaller number of issuers, its value may be affected to a greater extent by the performance of any one of those issuers or by any single economic, political, market or regulatory event affecting any one of those issues than a </span><span style="color:#000000;font-family:Arial;font-size:10pt;">fund that invests in a larger number of issuers.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Price Volatility Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The Fund’s investment strategy </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">may subject the Fund’s portfolio to increased volatility. Volatility may cause the value of the Fund’s portfolio to </span><span style="color:#000000;font-family:Arial;font-size:10pt;">fluctuate significantly in the short term.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Securities Lending Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Engaging in securities lending </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">could increase the market and credit risk for Fund investments. The Fund may lose money if it does not recover borrowed securities, the value of the collateral falls, or the value of investments made with cash collateral declines. The Fund’s loans will be collateralized by securities issued or guaranteed by the U.S. Government or its agencies and instrumentalities, which subjects the Fund to the credit risk of the U.S. Government or the issuing federal agency or instrumentality. If the value of either the cash collateral or the Fund’s investments of the cash collateral falls below the amount owed to a borrower, the Fund also may incur losses that exceed the amount it earned on lending the security. Securities lending also involves the risks of delay in receiving additional collateral or possible loss of rights in the collateral if the borrower fails. Another risk of securities lending is the risk that the loaned portfolio securities may not be available to the Fund on a timely basis and the Fund may therefore lose </span><span style="color:#000000;font-family:Arial;font-size:10pt;">the opportunity to sell the securities at a desirable price.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Sector Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Companies with similar characteristics may </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">be grouped together in broad categories called sectors. Sector risk is the risk that securities of companies within specific sectors of the economy can perform differently than the overall market. This may be due to changes in such things as the regulatory or competitive environment or to changes in investor perceptions regarding a sector. Because the Fund may allocate relatively more assets to certain sectors than others, the Fund’s performance may be more susceptible to any developments which affect </span><span style="color:#000000;font-family:Arial;font-size:10pt;">those sectors emphasized by the Fund.</span> <span style="font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Technology Sector Risk.</span><span style="font-family:Arial;font-size:10pt;"> Technology stocks historically </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">have experienced unusually wide price swings. Earnings disappointments and intense competition for market share can result in sharp declines in the prices of technology </span><span style="font-family:Arial;font-size:10pt;">stocks.</span> <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Performance Information</span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">The below bar chart and table illustrate the risks of investing in the Fund by showing changes in the Fund’s performance from calendar year to calendar year and comparing the Fund’s average annual returns to those of the S&amp;P</span><span style="font-family:Arial;font-size:6.5pt;position:relative;top:-3.25pt;">®</span><span style="font-family:Arial;font-size:10pt;"> 500 Index (a broad-based securities market </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">index) and the Russell 1000</span><span style="font-family:Arial;font-size:6.5pt;position:relative;top:-3.25pt;">®</span><span style="font-family:Arial;font-size:10pt;"> Growth Index which is </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">relevant to the Fund because it has characteristics similar to the Fund’s investment strategies.</span><span style="font-family:Arial;font-size:10pt;"> Fees and expenses </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">incurred at the contract level are not reflected in the bar chart or table. If these amounts were reflected, returns would be less than those shown. </span><span style="font-family:Arial;font-size:10pt;">Of course, past </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">performance of the Fund is not necessarily an indication </span><span style="font-family:Arial;font-size:10pt;">of how the Fund will perform in the future.</span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">American Century Investment Management, Inc., served as subadviser of the Fund from its inception until September 30, 2019. SunAmerica Asset Management, LLC served as subadviser of the Passive Strategy from September 30, 2019 until April 30, 2025. BlackRock assumed subadvisory duties of the Active Strategy on September 30, 2019 and the Passive Strategy on April 30, </span><span style="color:#000000;font-family:Arial;font-size:10pt;">2025. </span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">The below bar chart and table illustrate the risks of investing in the Fund by showing changes in the Fund’s performance from calendar year to calendar year and comparing the Fund’s average annual returns to those of the S&amp;P</span><span style="font-family:Arial;font-size:6.5pt;position:relative;top:-3.25pt;">®</span><span style="font-family:Arial;font-size:10pt;"> 500 Index (a broad-based securities market </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">index) and the Russell 1000</span><span style="font-family:Arial;font-size:6.5pt;position:relative;top:-3.25pt;">®</span><span style="font-family:Arial;font-size:10pt;"> Growth Index which is </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">relevant to the Fund because it has characteristics similar to the Fund’s investment strategies.</span> <span style="font-family:Arial;font-size:10pt;"> Fees and expenses </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">incurred at the contract level are not reflected in the bar chart or table. If these amounts were reflected, returns would be less than those shown. </span> <span style="font-family:Arial;font-size:10pt;">Of course, past </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">performance of the Fund is not necessarily an indication </span><span style="font-family:Arial;font-size:10pt;">of how the Fund will perform in the future.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;">During the period shown in the bar chart:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Highest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">June 30, 2020</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">28.99%</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Lowest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">June 30, 2022</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">-22.49%</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Year to Date Most </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Recent Quarter:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">June 30, 2026</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">10.31%</span> <span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Highest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span> 2020-06-30 0.2899 <span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Lowest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span> 2022-06-30 -0.2249 <span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Year to Date Most </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Recent Quarter:</span> 2026-06-30 0.1031 <span style="font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Average Annual Total Returns</span><span style="font-family:Arial;font-size:10pt;"> (For the periods ended December 31, 2025)</span> 0.1457 0.1157 0.1567 0.1788 0.1442 0.1482 0.1856 0.1532 0.1813 <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Investment Objective</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund seeks the highest possible total return and income consistent with conservation of capital through investment in a diversified portfolio of high yielding, high </span><span style="color:#000000;font-family:Arial;font-size:10pt;">risk fixed-income securities.</span> <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Fees and Expenses of the Fund</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">This table describes the fees and expenses that you may pay if you buy, hold and sell shares of the Fund. </span><span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">The table </span><span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">and the example below do not reflect the separate account fees charged in the variable annuity or variable life insurance policy (“Variable Contracts”) in which the Fund is offered.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> If separate account fees were </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">shown, the Fund’s annual operating expenses would be higher. Please see your Variable Contract prospectus for </span><span style="color:#000000;font-family:Arial;font-size:10pt;">more details on the separate account fees.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;text-decoration:underline;">Annual Fund Operating Expenses</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> (expenses that you </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">pay each year as a percentage of the value of your </span><span style="color:#000000;font-family:Arial;font-size:10pt;">investment)</span> 0.0062 0.0014 0.0076 -0.0008 0.0068 <span style="font-family:Arial;font-size:8pt;">September 30, 2027</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-style:italic;font-weight:bold;text-decoration:underline;">Expense Example</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem or hold all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same (except that the Example incorporates any applicable fee waiver and/or expense limitation arrangements for only the first year). The </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">Example does not reflect charges imposed by the Variable Contract. If the </span><span style="font-family:Arial;font-size:10pt;">separate account fees were reflected, the </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">expenses would be higher. See the Variable Contract prospectus for information on such charges. Although your actual costs may be higher or lower, based on these assumptions and the net expenses shown in the fee table, </span><span style="font-family:Arial;font-size:10pt;">your costs would be:</span> 69 235 415 935 <span style="color:#000000;font-family:Arial;font-size:10pt;font-style:italic;font-weight:bold;text-decoration:underline;">Portfolio Turnover</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). These costs, which are not reflected in annual fund operating expenses or in the Example, affect the </span><span style="color:#000000;font-family:Arial;font-size:10pt;">Fund’s performance.</span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">During the most recent fiscal year, the Fund’s portfolio </span><span style="font-family:Arial;font-size:10pt;">turnover rate was </span><span style="font-family:Arial;font-size:10pt;">56%</span><span style="font-family:Arial;font-size:10pt;"> of the average value of its portfolio.</span> 0.56 <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Principal Investment Strategies of the Fund</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">At least 80% of the Fund’s net assets are invested, under normal circumstances, in high-yield, below-investment grade fixed-income securities (often referred to as “junk bonds”).</span><span style="color:#000000;font-family:Arial;font-size:10pt;">These securities are rated below Baa3 by </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">Moody’s Investor Services, Inc. (“Moody’s”) or BBB– by S&amp;P Global Ratings (“S&amp;P”) or determined to be of comparable quality by the subadviser.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Up to 15% of the </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">Fund’s net assets can be rated below Caa3 by Moody’s or CCC– by S&amp;P or its equivalent rating by another Nationally Recognized Statistical Ratings Organization. The Fund may also invest up to 35% of its net assets in </span><span style="color:#000000;font-family:Arial;font-size:10pt;">below-investment grade foreign fixed-income securities. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund may also invest up to 20% of its net assets in investment grade fixed-income securities, those rated Baa3 or higher by Moody’s and BBB– or higher by S&amp;P. Although the Fund does not routinely invest in equity securities, it may invest in equity securities from time-to-time</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> up to 20% of the Fund’s net assets. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The subadviser analyzes macroeconomic trends to develop an overall picture of a country, market, or market segment and combines that analysis with research on </span><span style="color:#000000;font-family:Arial;font-size:10pt;">individual securities to achieve the Fund’s objective. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">In order to generate additional income, the Fund may lend portfolio securities to broker-dealers and other financial institutions provided that the value of the loaned securities does not exceed 30% of the Fund’s total assets. These loans earn income for the Fund and are collateralized by </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">cash and securities issued or guaranteed by the U.S. </span><span style="color:#000000;font-family:Arial;font-size:10pt;">Government or its agencies or instrumentalities.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">At least 80% of the Fund’s net assets are invested, under normal circumstances, in high-yield, below-investment grade fixed-income securities (often referred to as “junk bonds”).</span> <span style="color:#000000;font-family:Arial;font-size:10pt;">These securities are rated below Baa3 by </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">Moody’s Investor Services, Inc. (“Moody’s”) or BBB– by S&amp;P Global Ratings (“S&amp;P”) or determined to be of comparable quality by the subadviser.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;">Shares of the Fund are not bank deposits and </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">are not guaranteed or insured by any bank, government entity or the Federal Deposit Insurance Corporation.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;"> If the </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">value of the assets of the Fund goes down, you could lose </span><span style="color:#000000;font-family:Arial;font-size:10pt;">money.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Management Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The investment style or strategy used </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">by the Fund may fail to produce the intended result. A subadviser’s assessment of a particular security or company may prove incorrect, resulting in losses or </span><span style="color:#000000;font-family:Arial;font-size:10pt;">underperformance.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Call or Prepayment Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> During periods of falling </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">interest rates, a bond issuer may “call” a bond to repay it before its maturity date. The Fund may only be able to invest the bond’s proceeds at lower interest rates, </span><span style="color:#000000;font-family:Arial;font-size:10pt;">resulting in a decline in the Fund’s income.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Credit Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The Fund may suffer losses if the issuer of </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">a fixed-income security owned by the Fund is unable to </span><span style="color:#000000;font-family:Arial;font-size:10pt;">make interest or principal payments.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Currency Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Because the Fund’s foreign investments </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">are generally held in foreign currencies, the Fund could experience gains or losses based solely on changes in the exchange rate between foreign currencies and the U.S. </span><span style="color:#000000;font-family:Arial;font-size:10pt;">dollar. Such gains or losses may be substantial.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Foreign Investment Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Investment in foreign </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">securities involves risks due to several factors, such as illiquidity, the lack of public information, changes in the exchange rates between foreign currencies and the U.S. dollar, unfavorable political, social and legal developments, or economic and financial instability. Foreign companies are not subject to the U.S. accounting and financial reporting standards and may have riskier settlement procedures. U.S. investments that are denominated in foreign currencies or that are traded in foreign markets, or securities of U.S. companies that have significant foreign operations may be subject to foreign </span><span style="color:#000000;font-family:Arial;font-size:10pt;">investment risk.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Interest Rate Risk. </span><span style="color:#000000;font-family:Arial;font-size:10pt;">The value of fixed-income securities </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">may decline when interest rates go up or increase when interest rates go down. The interest earned on fixed-</span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">income securities may decline when interest rates go down or increase when interest rates go up. Longer-term and lower coupon bonds tend to be more sensitive to changes in interest rates. The Fund may be subject to a greater risk of rising interest rates due to the current period of historically low rates and the effect of potential government fiscal policy initiatives and resulting market </span><span style="color:#000000;font-family:Arial;font-size:10pt;">reaction to these initiatives.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Junk Bond Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> High yielding, high risk fixed-income </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">securities (often referred to as “junk bonds”) may involve significantly greater credit risk, market risk and interest rate risk compared to higher rated fixed-income securities. Issuers of junk bonds are less secure financially and their securities are more sensitive to downturns in the economy. The market for junk bonds may not be as liquid as that for </span><span style="color:#000000;font-family:Arial;font-size:10pt;">more highly rated securities.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Market Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The Fund’s share price can fall because of </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">weakness in the broad market, a particular industry, or specific holdings or due to adverse social, political or economic developments here or abroad, changes in investor psychology, technological disruptions, or heavy institutional selling and other conditions or events (including, for example, military confrontations, war, terrorism, trade wars, disease/virus outbreaks and epidemics). The prices of individual securities may fluctuate, sometimes dramatically, from day to day. The prices of stocks and other equity securities tend to be </span><span style="color:#000000;font-family:Arial;font-size:10pt;">more volatile than those of fixed-income securities.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Securities Lending Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Engaging in securities lending </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">could increase the market and credit risk for Fund investments. The Fund may lose money if it does not recover borrowed securities, the value of the collateral falls, or the value of investments made with cash collateral declines. The Fund’s loans will be collateralized by securities issued or guaranteed by the U.S. Government or its agencies and instrumentalities, which subjects the Fund to the credit risk of the U.S. Government or the issuing federal agency or instrumentality. If the value of either the cash collateral or the Fund’s investments of the cash collateral falls below the amount owed to a borrower, the Fund also may incur losses that exceed the amount it earned on lending the security. Securities lending also involves the risks of delay in receiving additional collateral or possible loss of rights in the collateral if the borrower fails. Another risk of securities lending is the risk that the loaned portfolio securities may not be available to the Fund on a timely basis and the Fund may therefore lose </span><span style="color:#000000;font-family:Arial;font-size:10pt;">the opportunity to sell the securities at a desirable price.</span> <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Performance Information</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">As a result of a reorganization which occurred on May 24, 2021 (the “Reorganization”), the Fund acquired all of the </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">assets and liabilities of the High Yield Bond Fund (the “Predecessor Fund”), a series of VALIC Company II. The returns presented for the Fund reflect the performance of the Predecessor Fund. The Fund had not yet commenced operations prior to the Reorganization. The performance information below is based on the performance of the Predecessor Fund for periods prior to the date of the Reorganization. The Fund and the Predecessor Fund had the same investment objectives, strategies and portfolio </span><span style="color:#000000;font-family:Arial;font-size:10pt;">management team as of the date of the Reorganization. </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">The below bar chart and table illustrate the risks of investing in the Fund by showing changes in the Fund’s performance from calendar year to calendar year and comparing the Fund’s average annual returns to those of the Bloomberg U.S. Universal Index (a broad-based securities market index) and the FTSE US High-Yield Market Index, which is relevant to the Fund because it has characteristics similar to the Fund’s investment strategies.</span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">Fees and expenses incurred at the contract level are not reflected in the bar chart or table. If these amounts were reflected, returns would be less than those shown. </span><span style="font-family:Arial;font-size:10pt;">Of </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">course, past performance of the Fund is not necessarily </span><span style="font-family:Arial;font-size:10pt;">an indication of how the Fund will perform in the future.</span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">The below bar chart and table illustrate the risks of investing in the Fund by showing changes in the Fund’s performance from calendar year to calendar year and comparing the Fund’s average annual returns to those of the Bloomberg U.S. Universal Index (a broad-based securities market index) and the FTSE US High-Yield Market Index, which is relevant to the Fund because it has characteristics similar to the Fund’s investment strategies.</span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">Fees and expenses incurred at the contract level are not reflected in the bar chart or table. If these amounts were reflected, returns would be less than those shown. </span> <span style="font-family:Arial;font-size:10pt;">Of </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">course, past performance of the Fund is not necessarily </span><span style="font-family:Arial;font-size:10pt;">an indication of how the Fund will perform in the future.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;">During the period shown in the bar chart:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Highest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">June 30, 2020</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">10.19%</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Lowest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">March 31, 2020</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">-13.13%</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Year to Date Most </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Recent Quarter:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">June 30, 2026</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">1.93%</span> <span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Highest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span> 2020-06-30 0.1019 <span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Lowest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span> 2020-03-31 -0.1313 <span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Year to Date Most </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Recent Quarter:</span> 2026-06-30 0.0193 <span style="font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Average Annual Total Returns</span><span style="font-family:Arial;font-size:10pt;"> (For the periods ended December 31, 2025)</span> 0.0937 0.0420 0.0592 0.0758 0.0006 0.0244 0.0852 0.0463 0.0650 <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Investment Objective</span> <span style="color:#000000;font-family:Arial;font-size:10pt;">The Fund seeks maximum real return.</span> <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Fees and Expenses of the Fund</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">This table describes the fees and expenses that you may pay if you buy, hold and sell shares of the Fund. </span><span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">The table </span><span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">and the example below do not reflect the separate account fees charged in the variable annuity or variable life insurance policy (“Variable Contracts”) in which the Fund is offered.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> If separate account fees were </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">shown, the Fund’s annual operating expenses would be higher. Please see your Variable Contract prospectus for </span><span style="color:#000000;font-family:Arial;font-size:10pt;">more details on the separate account fees.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;text-decoration:underline;">Annual Fund Operating Expenses</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> (expenses that you </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">pay each year as a percentage of the value of your </span><span style="color:#000000;font-family:Arial;font-size:10pt;">investment)</span> 0.0048 0.0014 0.0062 -0.0009 0.0053 <span style="font-family:Arial;font-size:8pt;">September 30, 2027</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-style:italic;font-weight:bold;text-decoration:underline;">Expense Example</span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem or hold all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same (except that the Example incorporates any applicable fee waiver and/or expense limitation arrangements for only the first year). The Example does not reflect charges imposed by the Variable Contract. If the </span><span style="font-family:Arial;font-size:10pt;">separate account fees were reflected, the </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">expenses would be higher. See the Variable Contract prospectus for information on such charges. Although your actual costs may be higher or lower, based on these assumptions and the net expenses shown in the fee table, </span><span style="font-family:Arial;font-size:10pt;">your costs would be:</span> 54 189 337 766 <span style="color:#000000;font-family:Arial;font-size:10pt;font-style:italic;font-weight:bold;text-decoration:underline;">Portfolio Turnover</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). These costs, which are not reflected in annual fund operating expenses or in the Example, affect the </span><span style="color:#000000;font-family:Arial;font-size:10pt;">Fund’s performance.</span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">During the most recent fiscal year, the Fund’s portfolio </span><span style="font-family:Arial;font-size:10pt;">turnover rate was </span><span style="font-family:Arial;font-size:10pt;">45%</span><span style="font-family:Arial;font-size:10pt;"> of the average value of its portfolio.</span> 0.45 <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Principal Investment Strategies of the Fund</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund seeks to achieve its investment objective by investing, under normal circumstances, at least 80% of its net assets in inflation-indexed fixed income securities issued by domestic and foreign governments (including those in emerging market countries), their agencies or instrumentalities, and corporations and in derivative instruments that have economic characteristics similar to </span><span style="color:#000000;font-family:Arial;font-size:10pt;">such securities.</span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">Inflation-indexed fixed income securities are structured to provide protection against the negative effects of inflation. The value of a fixed income security’s principal or the interest income paid on the fixed income security is adjusted to track changes in an official inflation measure, usually the Consumer Price Index for Urban Consumers </span><span style="color:#000000;font-family:Arial;font-size:10pt;">(“CPI-U”) with respect to domestic issuers.</span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund invests primarily in investment grade securities rated Baa3 or higher by Moody’s Investors Service, Inc. or BBB-or higher by S&amp;P Global Ratings.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The Fund also may </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">invest up to 50% of its total assets in securities denominated in foreign currencies, and may invest beyond this limit in U.S. dollar denominated securities of foreign and emerging market issuers. The Fund may invest in debt securities that are not inflation indexed, including mortgage- and asset-backed securities and collateralized loan obligations. The subadviser may consider, among other things, credit, interest rate and prepayment risks, as well as general market conditions, when deciding whether to buy or sell fixed income investments, and the Fund may invest in fixed income investments of any maturity and duration. The Fund generally intends to utilize currency forwards and futures to manage foreign currency risk. The Fund may also invest in derivative instruments, such as forwards, futures, contracts or swap agreements, as a substitute for directly investing in the above instruments or for risk management purposes. The subadviser may engage in frequent and </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">active trading of portfolio securities to achieve the Fund’s </span><span style="color:#000000;font-family:Arial;font-size:10pt;">investment objective. </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">In order to generate additional income, the Fund may lend portfolio securities to broker-dealers and other financial institutions provided that the value of the loaned securities does not exceed 30% of the Fund’s total assets. These loans earn income for the Fund and are collateralized by cash and securities issued or guaranteed by the U.S. </span><span style="font-family:Arial;font-size:10pt;">Government or its agencies or instrumentalities.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund seeks to achieve its investment objective by investing, under normal circumstances, at least 80% of its net assets in inflation-indexed fixed income securities issued by domestic and foreign governments (including those in emerging market countries), their agencies or instrumentalities, and corporations and in derivative instruments that have economic characteristics similar to </span><span style="color:#000000;font-family:Arial;font-size:10pt;">such securities.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">Inflation-indexed fixed income securities are structured to provide protection against the negative effects of inflation. The value of a fixed income security’s principal or the interest income paid on the fixed income security is adjusted to track changes in an official inflation measure, usually the Consumer Price Index for Urban Consumers </span><span style="color:#000000;font-family:Arial;font-size:10pt;">(“CPI-U”) with respect to domestic issuers.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund invests primarily in investment grade securities rated Baa3 or higher by Moody’s Investors Service, Inc. or BBB-or higher by S&amp;P Global Ratings.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;">Shares of the Fund are not bank deposits and </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">are not guaranteed or insured by any bank, government entity or the Federal Deposit Insurance Corporation.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;"> If the </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">value of the assets of the Fund goes down, you could lose </span><span style="color:#000000;font-family:Arial;font-size:10pt;">money.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Inflation-Indexed Securities Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> If the interest rate </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">rises for reasons other than inflation, the value of inflation-indexed securities can be negatively impacted. In certain interest rate environments, such instruments may experience greater losses than other fixed income </span><span style="color:#000000;font-family:Arial;font-size:10pt;">securities with similar durations.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Risks of Inflation Indexing Methodology.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> An inflation </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">index may not accurately measure the real rate of inflation in the prices of goods and services, whether for the U.S. or a foreign country. Market perceptions of adjustment times or a lag between the time a security is adjusted for inflation and the time interest is paid can each adversely affect an inflation-indexed security, particularly during </span><span style="color:#000000;font-family:Arial;font-size:10pt;">periods of significant, rapid changes in inflation.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Interest Rate Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Fixed income securities may be </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">subject to volatility due to changes in interest rates. The value of fixed-income securities may decline when interest rates go up or increase when interest rates go down. The interest earned on fixed-income securities may decline when interest rates go down or increase when interest rates go up. Duration is a measure of interest rate risk that indicates how price-sensitive a bond is to changes in interest rates. Longer-term and lower coupon bonds tend to be more sensitive to changes in interest rates. For example, a bond with a duration of three years will decrease in value by approximately 3% if interest rates increase by 1%. Changing interest rates may have unpredictable effects on markets, may result in heightened market volatility, and could negatively impact </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">the </span><span style="font-family:Arial;font-size:10pt;">Fund’s performance. Any future changes in monetary </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">policy made by central banks and/or their governments </span><span style="font-family:Arial;font-size:10pt;">are likely to affect the level of interest rates.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Call or Prepayment Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> During periods of falling </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">interest rates, a bond issuer may “call” a bond to repay it before its maturity date. The Fund may only be able to invest the bond’s proceeds at lower interest rates, </span><span style="color:#000000;font-family:Arial;font-size:10pt;">resulting in a decline in the Fund’s income.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Credit Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The Fund may suffer losses if the issuer of </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">a fixed income security owned by the Fund is unable to </span><span style="color:#000000;font-family:Arial;font-size:10pt;">make interest or principal payments.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Foreign Investment Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Investment in foreign </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">securities involves risks due to several factors, such as illiquidity, the lack of public information, changes in the exchange rates between foreign currencies and the U.S. dollar, unfavorable political, social and legal developments, or economic and financial instability. Foreign companies are not subject to the U.S. accounting and financial reporting standards and may have riskier settlement procedures. U.S. investments that are denominated in foreign currencies or that are traded in foreign markets, or securities of U.S. companies that have significant foreign operations may be subject to foreign </span><span style="color:#000000;font-family:Arial;font-size:10pt;">investment risk.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Emerging Markets Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Investments in emerging </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">markets are subject to all of the risks of investments in foreign securities, generally to a greater extent than in developed markets, and additional risks as well. Generally, the economic, social, legal, and political structures in emerging market countries are less diverse, mature and stable than those in developed countries. As a result, investments in emerging market securities tend to be more volatile than investments in developed countries. Unlike most developed countries, emerging market countries may impose restrictions on foreign investment. These countries may also impose confiscatory taxes on investment proceeds or otherwise restrict the ability of </span><span style="color:#000000;font-family:Arial;font-size:10pt;">foreign investors to withdraw their money at will.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Currency Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Because the Fund’s foreign investments </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">are generally held in foreign currencies, the Fund could experience gains or losses based solely on changes in the exchange rate between foreign currencies and the U.S. </span><span style="color:#000000;font-family:Arial;font-size:10pt;">dollar. Such gains or losses may be substantial.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Market Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The Fund’s share price can fall because of </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">weakness in the broad market, a particular industry, or specific holdings or due to adverse social, political or economic developments here or abroad, changes in investor psychology, technological disruptions, or heavy institutional selling and other conditions or events (including, for example, military confrontations, war, </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">terrorism, trade wars, disease/virus outbreaks and epidemics). The prices of individual securities may fluctuate, sometimes dramatically, from day to day. The prices of stocks and other equity securities tend to be </span><span style="color:#000000;font-family:Arial;font-size:10pt;">more volatile than those of fixed-income securities.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">U.S. Government Obligations Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> U.S. Treasury </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">obligations are backed by the “full faith and credit” of the U.S. Government and are generally considered to have low credit risk. Unlike U.S. Treasury obligations, securities issued or guaranteed by federal agencies or authorities and U.S. Government-sponsored instrumentalities or enterprises may or may not be backed by the full faith and credit of the U.S. Government and are therefore subject to greater credit risk than securities issued or guaranteed by </span><span style="color:#000000;font-family:Arial;font-size:10pt;">the U.S. Treasury.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Foreign Sovereign Debt Risk. </span><span style="color:#000000;font-family:Arial;font-size:10pt;">Foreign sovereign debt </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">securities are subject to the risk that a governmental entity may delay or refuse to pay interest or to repay principal on its sovereign debt, due, for example, to cash flow problems, insufficient foreign currency reserves, political, social and economic considerations, the relative size of the governmental entity’s debt position in relation to the economy or the failure to put in place economic reforms required by the International Monetary Fund or other multilateral agencies. If a governmental entity defaults, it </span><span style="color:#000000;font-family:Arial;font-size:10pt;">may ask for more time in which to pay or for further loans.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Mortgage- and Asset-Backed Securities Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Mortgage-backed securities are similar to other debt </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">securities in that they are subject to credit risk and interest rate risk. Mortgage-backed securities may be issued or guaranteed by the U.S. Government, its agencies or instrumentalities or may be non-guaranteed securities issued by private issuers. These securities are also subject to the risk that issuers will prepay the principal more quickly or more slowly than expected, which could cause the Fund to invest the proceeds in less attractive investments or increase the volatility of their prices. CMOs, which are a type of mortgage-backed security, may be less liquid and may exhibit greater price volatility than other types of mortgage- and asset-backed </span><span style="color:#000000;font-family:Arial;font-size:10pt;">securities. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">Asset-backed securities are bonds or notes that are normally supported by a specific property. If the issuer fails to pay the interest or return the principal when the bond matures, then the issuer must give the property to the bondholders or noteholders. Examples of assets supporting asset-backed securities include credit card receivables, retail installment loans, home equity loans, </span><span style="color:#000000;font-family:Arial;font-size:10pt;">auto loans, and manufactured housing loans.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Collateralized Loan Obligation Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> A collateralized </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">loan obligation is a trust typically collateralized by a pool </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">of loans, which may include, among others, domestic and foreign senior secured loans, senior unsecured loans, and subordinate corporate loans, including loans that may be rated below investment grade or equivalent unrated loans. The cash flows from the trust are split into two or more portions, called tranches, varying in risk and yield. The riskiest portion is the “equity” tranche which bears the bulk of defaults from the bonds or loans in the trust and serves to protect the other, more senior tranches from default in all but the most severe circumstances. Because it is partially protected from defaults, a senior tranche from a collateralized loan obligation trust typically has higher ratings and lower yields than its underlying securities, and can be rated investment grade. Despite the protection from the equity tranche, collateralized loan obligation tranches can experience substantial losses due to actual defaults, increased sensitivity to defaults due to collateral default and disappearance of protecting tranches, market anticipation of defaults, as well as aversion to </span><span style="color:#000000;font-family:Arial;font-size:10pt;">collateralized loan obligation securities as a class.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Derivatives Risk. </span><span style="color:#000000;font-family:Arial;font-size:10pt;">The prices of derivatives may move in </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">unexpected ways due to the use of leverage and other factors and may result in increased volatility or losses. The Fund may not be able to terminate or sell derivative positions, and a liquid secondary market may not always exist for derivative positions. When currency forwards are used by the Fund for hedging purposes, there is a risk that due to imperfect correlations, the currency forwards will not fully hedge against adverse changes in foreign currency values or, under extreme market conditions, will not provide any hedging benefit. The successful use of currency forwards for non-hedging purposes usually depends on the portfolio managers’ ability to forecast movements in foreign currency values and may be speculative. Should these values move in unexpected ways, the Fund may not achieve the anticipated benefit from using currency forwards, and it may realize losses, </span><span style="color:#000000;font-family:Arial;font-size:10pt;">which could be significant.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Futures Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> A futures contract is considered a </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">derivative because it derives its value from the price of the underlying currency, security or financial index. The prices of futures contracts can be volatile and futures contracts may lack liquidity. In addition, there may be imperfect or even negative correlation between the price of a futures contract and the price of the underlying currency, security </span><span style="color:#000000;font-family:Arial;font-size:10pt;">or financial index.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Counterparty Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Counterparty risk is the risk that a </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">counterparty to a security, loan or derivative held by the Fund becomes bankrupt or otherwise fails to perform its obligations due to financial difficulties. The Fund may experience significant delays in obtaining any recovery in a bankruptcy or other reorganization proceeding, and </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">there may be no recovery or limited recovery in such </span><span style="color:#000000;font-family:Arial;font-size:10pt;">circumstances.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Hedging Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> A hedge is an investment made in order to </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">reduce the risk of adverse price movements in a currency or other investment by taking an offsetting position (often through a derivative instrument, such as an option or forward contract). While hedging strategies can be very useful and inexpensive ways of reducing risk, they are sometimes ineffective due to unexpected changes in the market. Hedging also involves the risk that changes in the value of the related security will not match those of the instruments being hedged as expected, in which case any losses on the instruments being hedged may not be </span><span style="color:#000000;font-family:Arial;font-size:10pt;">reduced.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Active Trading Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> High portfolio turnover rates that </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">are associated with active trading may result in higher transaction costs, which can adversely affect the Fund’s performance. Active trading tends to be more pronounced </span><span style="color:#000000;font-family:Arial;font-size:10pt;">during periods of increased market volatility.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Securities Lending Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Engaging in securities lending </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">could increase the market and credit risk for Fund investments. The Fund may lose money if it does not recover borrowed securities, the value of the collateral falls, or the value of investments made with cash collateral declines. The Fund’s loans will be collateralized by securities issued or guaranteed by the U.S. Government or its agencies and instrumentalities, which subjects the Fund to the credit risk of the U.S. Government or the issuing federal agency or instrumentality. If the value of either the cash collateral or the Fund’s investments of the cash collateral falls below the amount owed to a borrower, the Fund also may incur losses that exceed the amount it earned on lending the security. Securities lending also involves the risks of delay in receiving additional collateral or possible loss of rights in the collateral if the borrower fails. Another risk of securities lending is the risk that the loaned portfolio securities may not be available to the Fund on a timely basis and the Fund may therefore lose </span><span style="color:#000000;font-family:Arial;font-size:10pt;">the opportunity to sell the securities at a desirable price.</span> <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Performance Information</span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">The below bar chart and table illustrate the risks of investing in the Fund by showing changes in the Fund’s performance from calendar year to calendar year and comparing the Fund’s average annual returns to those of the Bloomberg U.S. Aggregate Bond Index (a broad-based securities market index) and the Bloomberg U.S. Treasury Inflation-Protected Securities (“TIPS”) Index, </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">which is relevant to the Fund because it has characteristics similar to the Fund’s investment strategies.</span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">Fees and expenses incurred at the contract level are not reflected in the bar chart or table. If these amounts were reflected, returns would be less than those shown. </span><span style="color:#000000;font-family:Arial;font-size:10pt;">Of </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">course, past performance of the Fund is not necessarily </span><span style="color:#000000;font-family:Arial;font-size:10pt;">an indication of how the Fund will perform in the future.</span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">Effective September 28, 2020, Wellington Management Company LLP (“Wellington Management”) assumed subadvisory responsibilities for the Fund. Prior to September 28, 2020, PineBridge Investments LLC </span><span style="color:#000000;font-family:Arial;font-size:10pt;">subadvised the Fund. </span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">The below bar chart and table illustrate the risks of investing in the Fund by showing changes in the Fund’s performance from calendar year to calendar year and comparing the Fund’s average annual returns to those of the Bloomberg U.S. Aggregate Bond Index (a broad-based securities market index) and the Bloomberg U.S. Treasury Inflation-Protected Securities (“TIPS”) Index, </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">which is relevant to the Fund because it has characteristics similar to the Fund’s investment strategies.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">Fees and expenses incurred at the contract level are not reflected in the bar chart or table. If these amounts were reflected, returns would be less than those shown. </span> <span style="color:#000000;font-family:Arial;font-size:10pt;">Of </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">course, past performance of the Fund is not necessarily </span><span style="color:#000000;font-family:Arial;font-size:10pt;">an indication of how the Fund will perform in the future.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;">During the period shown in the bar chart:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Highest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">June 30, 2020</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">6.94%</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Lowest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">June 30, 2022</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">-6.92%</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Year to Date Most </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Recent Quarter:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">June 30, 2026</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">1.88%</span> <span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Highest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span> 2020-06-30 0.0694 <span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Lowest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span> 2022-06-30 -0.0692 <span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Year to Date Most </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Recent Quarter:</span> 2026-06-30 0.0188 <span style="font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Average Annual Total Returns</span><span style="font-family:Arial;font-size:10pt;"> (For the periods ended December 31, 2025)</span> 0.0600 0.0106 0.0286 0.0730 -0.0036 0.0201 0.0701 0.0112 0.0308 <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Investment Objective</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund seeks long-term capital growth through investments in equity securities that, as a group, are expected to provide investment results closely corresponding to the performance of the MSCI EAFE </span><span style="color:#000000;font-family:Arial;font-size:10pt;">Index (net) (the “Index”).</span> <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Fees and Expenses of the Fund</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">This table describes the fees and expenses that you may pay if you buy, hold and sell shares of the Fund. </span><span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">The table </span><span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">and the example below do not reflect the separate account fees charged in the variable annuity or variable life insurance policy (“Variable Contracts”) in which the Fund is offered.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> If separate account fees were </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">shown, the Fund’s annual operating expenses would be higher. Please see your Variable Contract prospectus for </span><span style="color:#000000;font-family:Arial;font-size:10pt;">more details on the separate account fees.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;text-decoration:underline;">Annual Fund Operating Expenses</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> (expenses that you </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">pay each year as a percentage of the value of your </span><span style="color:#000000;font-family:Arial;font-size:10pt;">investment)</span> 0.0027 0.0015 0.0042 -0.0003 0.0039 <span style="font-family:Arial;font-size:8pt;">September 30, 2027</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-style:italic;font-weight:bold;text-decoration:underline;">Expense Example</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem or hold all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same (except that the Example incorporates any applicable fee waiver and/or expense limitation arrangements for only the first year). The Example does not reflect charges imposed by the Variable </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">Contract. If the </span><span style="font-family:Arial;font-size:10pt;">separate account fees were reflected, the </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">expenses would be higher. See the Variable Contract prospectus for information on such charges. Although your actual costs may be higher or lower, based on these assumptions and the net expenses shown in the fee table, </span><span style="font-family:Arial;font-size:10pt;">your costs would be:</span> 40 132 232 527 <span style="color:#000000;font-family:Arial;font-size:10pt;font-style:italic;font-weight:bold;text-decoration:underline;">Portfolio Turnover</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). These costs, which are not reflected in annual fund operating expenses or in the Example, affect the </span><span style="color:#000000;font-family:Arial;font-size:10pt;">Fund’s performance.</span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">During the most recent fiscal year, the Fund’s portfolio </span><span style="font-family:Arial;font-size:10pt;">turnover rate was </span><span style="font-family:Arial;font-size:10pt;">29%</span><span style="font-family:Arial;font-size:10pt;"> of the average value of its portfolio.</span> 0.29 <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Principal Investment Strategies of the Fund</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund is managed to seek to track the performance of the Index, which measures the stock performance of large- and mid-cap companies in developed countries outside the U.S.</span><span style="color:#000000;font-family:Arial;font-size:10pt;">The Subadviser may endeavor to track the </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">Index by purchasing every stock included in the Index, in the same proportions; or, in the alternative, the Subadviser may invest in a sampling of Index stocks by utilizing a statistical technique known as “optimization.” The goal of optimization is to select stocks which ensure that various industry weightings, market capitalizations, and fundamental characteristics, (</span><span style="color:#000000;font-family:Arial;font-size:10pt;font-style:italic;">e.g.</span><span style="color:#000000;font-family:Arial;font-size:10pt;">, price-to-book, price-to-earnings,</span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;"> debt-to-asset ratios and dividend yields) closely </span><span style="color:#000000;font-family:Arial;font-size:10pt;">approximate those of the Index.</span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund invests, under normal circumstances, at least 80% of net assets in stocks that are in the Index.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Although </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">the Fund seeks to track the performance of the Index, the performance of the Fund will not match that of the Index exactly because, among other reasons, the Fund incurs operating expenses and other investment overhead as </span><span style="color:#000000;font-family:Arial;font-size:10pt;">part of its normal operations. </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">The subadviser may use derivatives to seek to track the performance of the Index, including futures and total </span><span style="font-family:Arial;font-size:10pt;">return swaps. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">In order to generate additional income, the Fund may lend portfolio securities to broker-dealers and other financial institutions provided that the value of the loaned securities does not exceed 30% of the Fund’s total assets. These </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">loans earn income for the Fund and are collateralized by cash and securities issued or guaranteed by the U.S. </span><span style="font-family:Arial;font-size:10pt;">Government or its agencies or instrumentalities.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund is managed to seek to track the performance of the Index, which measures the stock performance of large- and mid-cap companies in developed countries outside the U.S.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;">The Subadviser may endeavor to track the </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">Index by purchasing every stock included in the Index, in the same proportions; or, in the alternative, the Subadviser may invest in a sampling of Index stocks by utilizing a statistical technique known as “optimization.” The goal of optimization is to select stocks which ensure that various industry weightings, market capitalizations, and fundamental characteristics, (</span><span style="color:#000000;font-family:Arial;font-size:10pt;font-style:italic;">e.g.</span><span style="color:#000000;font-family:Arial;font-size:10pt;">, price-to-book, price-to-earnings,</span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;"> debt-to-asset ratios and dividend yields) closely </span><span style="color:#000000;font-family:Arial;font-size:10pt;">approximate those of the Index.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund invests, under normal circumstances, at least 80% of net assets in stocks that are in the Index.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;">Shares of the Fund are not bank deposits and </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">are not guaranteed or insured by any bank, government entity or the Federal Deposit Insurance Corporation.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;"> If the </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">value of the assets of the Fund goes down, you could lose </span><span style="color:#000000;font-family:Arial;font-size:10pt;">money.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Equity Securities Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The Fund invests principally in </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">equity securities and is therefore subject to the risk that stock prices will fall and may underperform other asset classes. Individual stock prices fluctuate from day-to-day and may decline significantly. The prices of individual stocks may be negatively affected by poor company results or other factors affecting individual prices, as well as industry and/or economic trends and developments </span><span style="color:#000000;font-family:Arial;font-size:10pt;">affecting industries or the securities market as a whole.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Index Risk. </span><span style="color:#000000;font-family:Arial;font-size:10pt;">In attempting to track the performance of the </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">index, the Fund may be more susceptible to adverse developments concerning a particular security, company or industry because the Fund generally will not use any </span><span style="color:#000000;font-family:Arial;font-size:10pt;">defensive strategies to mitigate its risk exposure.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Failure to Match Index Performance Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The ability of </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">the Fund to match the performance of the Index may be affected by, among other things, changes in securities markets, the manner in which performance of the Index is calculated, changes in the composition of the Index, the amount and timing of cash flows into and out of the Fund, commissions, portfolio expenses, and any differences in the pricing of securities by the Fund and the Index. When the Fund employs an “optimization” strategy, the Fund is subject to an increased risk of tracking error, in that the securities selected in the aggregate for the Fund may </span><span style="color:#000000;font-family:Arial;font-size:10pt;">perform differently than the Index.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Foreign Investment Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Investment in foreign </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">securities involves risks due to several factors, such as illiquidity, the lack of public information, changes in the exchange rates between foreign currencies and the U.S. dollar, unfavorable political, social and legal developments, or economic and financial instability. Foreign companies are not subject to the U.S. accounting and financial reporting standards and may have riskier settlement procedures. U.S. investments that are </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">denominated in foreign currencies or that are traded in foreign markets, or securities of U.S. companies that have significant foreign operations may be subject to foreign </span><span style="color:#000000;font-family:Arial;font-size:10pt;">investment risk.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Currency Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Because the Fund’s foreign investments </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">are generally held in foreign currencies, the Fund could experience gains or losses based solely on changes in the exchange rate between foreign currencies and the U.S. </span><span style="color:#000000;font-family:Arial;font-size:10pt;">dollar. Such gains or losses may be substantial.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Geographic Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> If the Fund invests a significant portion </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">of its assets in issuers located in a single country, a limited number of countries, or a particular geographic region, it assumes the risk that economic, political and social conditions in those countries or that region may have a </span><span style="color:#000000;font-family:Arial;font-size:10pt;">significant impact on its investment performance.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Japan Exposure Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The Japanese economy faces a </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">number of long-term problems, including massive government debt, the aging and shrinking of the population, an unstable financial sector and low domestic consumption. The growth of Japan’s economy has recently lagged behind that of its Asian neighbors and other major developed economies. The Japanese economy is heavily dependent on international trade and may be adversely affected by trade tariffs, other protectionist measures, dependence on exports and international trade, increasing competition from Asia’s other low-cost emerging economies, political and social instability, regional and global conflicts and natural disasters, as well as by commodity markets fluctuations </span><span style="color:#000000;font-family:Arial;font-size:10pt;">related to Japan’s limited natural resource supply.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Large- and Mid-Cap Companies Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Investing in large- </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">and mid-cap companies carries the risk that due to current market conditions these companies may be out of favor with investors. Large-cap companies may be unable to respond quickly to new competitive challenges or attain the high growth rate of successful smaller companies. Stocks of mid-cap companies may be more volatile than those of larger companies due to, among other reasons, narrower product lines, more limited financial resources </span><span style="color:#000000;font-family:Arial;font-size:10pt;">and fewer experienced managers.</span> <span style="font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Derivatives Risk. </span><span style="font-family:Arial;font-size:10pt;">The prices of derivatives may move in </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">unexpected ways due to the use of leverage and other factors and may result in increased volatility or losses. The Fund may not be able to terminate or sell derivative positions, and a liquid secondary market may not always </span><span style="font-family:Arial;font-size:10pt;">exist for derivative positions.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Market Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The Fund’s share price can fall because of </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">weakness in the broad market, a particular industry, or specific holdings or due to adverse social, political or economic developments here or abroad, changes in </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">investor psychology, technological disruptions, or heavy institutional selling and other conditions or events (including, for example, military confrontations, war, terrorism, trade wars, disease/virus outbreaks and epidemics). The prices of individual securities may fluctuate, sometimes dramatically, from day to day. The prices of stocks and other equity securities tend to be </span><span style="color:#000000;font-family:Arial;font-size:10pt;">more volatile than those of fixed-income securities.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Securities Lending Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Engaging in securities lending </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">could increase the market and credit risk for Fund investments. The Fund may lose money if it does not recover borrowed securities, the value of the collateral falls, or the value of investments made with cash collateral declines. The Fund’s loans will be collateralized by securities issued or guaranteed by the U.S. Government or its agencies and instrumentalities, which subjects the Fund to the credit risk of the U.S. Government or the issuing federal agency or instrumentality. If the value of either the cash collateral or the Fund’s investments of the cash collateral falls below the amount owed to a borrower, the Fund also may incur losses that exceed the amount it earned on lending the security. Securities lending also involves the risks of delay in receiving additional collateral or possible loss of rights in the collateral if the borrower fails. Another risk of securities lending is the risk that the loaned portfolio securities may not be available to the Fund on a timely basis and the Fund may therefore lose </span><span style="color:#000000;font-family:Arial;font-size:10pt;">the opportunity to sell the securities at a desirable price.</span> <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Performance Information</span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">The below bar chart and table illustrate the risks of investing in the Fund by showing changes in the Fund’s performance from calendar year to calendar year and comparing the Fund’s average annual returns to those of the MSCI EAFE Index (net) (a broad-based securities market index), which is relevant to the Fund because it has characteristics similar to the Fund’s investment strategies.</span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">Fees and expenses incurred at the contract level are not reflected in the bar chart or table. If these amounts were reflected, returns would be less than those shown. </span><span style="font-family:Arial;font-size:10pt;">Of </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">course, past performance of the Fund is not necessarily </span><span style="font-family:Arial;font-size:10pt;">an indication of how the Fund will perform in the future.</span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">BlackRock Investment Management, LLC (“BlackRock”) assumed sub‑advisory responsibilities on April 30, 2025. Prior to this time, the Fund was sub‑advised by </span><span style="color:#000000;font-family:Arial;font-size:10pt;">SunAmerica Asset Management, LLC. </span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">The below bar chart and table illustrate the risks of investing in the Fund by showing changes in the Fund’s performance from calendar year to calendar year and comparing the Fund’s average annual returns to those of the MSCI EAFE Index (net) (a broad-based securities market index), which is relevant to the Fund because it has characteristics similar to the Fund’s investment strategies.</span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">Fees and expenses incurred at the contract level are not reflected in the bar chart or table. If these amounts were reflected, returns would be less than those shown. </span> <span style="font-family:Arial;font-size:10pt;">Of </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">course, past performance of the Fund is not necessarily </span><span style="font-family:Arial;font-size:10pt;">an indication of how the Fund will perform in the future.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;">During the period shown in the bar chart:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Highest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">December 31, 2022</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">18.18%</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Lowest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">March 31, 2020</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">-22.83%</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Year to Date Most </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Recent Quarter:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">June 30, 2026</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">9.97%</span> <span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Highest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span> 2022-12-31 0.1818 <span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Lowest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span> 2020-03-31 -0.2283 <span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Year to Date Most </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Recent Quarter:</span> 2026-06-30 0.0997 <span style="font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Average Annual Total Returns</span><span style="font-family:Arial;font-size:10pt;"> (For the periods ended December 31, 2025)</span> 0.3081 0.0847 0.0782 0.3122 0.0892 0.0818 <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Investment Objective</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund seeks high current income through investments primarily in investment grade debt securities issued or </span><span style="color:#000000;font-family:Arial;font-size:10pt;">guaranteed by foreign governments.</span> <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Fees and Expenses of the Fund</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">This table describes the fees and expenses that you may pay if you buy, hold and sell shares of the Fund. </span><span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">The table </span><span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">and the example below do not reflect the separate account fees charged in the variable annuity or variable life insurance policy (“Variable Contracts”) in which the Fund is offered.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> If separate account fees were </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">shown, the Fund’s annual operating expenses would be higher. Please see your Variable Contract prospectus for </span><span style="color:#000000;font-family:Arial;font-size:10pt;">more details on the separate account fees.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;text-decoration:underline;">Annual Fund Operating Expenses</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> (expenses that you </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">pay each year as a percentage of the value of your </span><span style="color:#000000;font-family:Arial;font-size:10pt;">investment)</span> 0.0050 0.0033 0.0083 -0.0006 0.0077 <span style="font-family:Arial;font-size:8pt;">September 30, 2027</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-style:italic;font-weight:bold;text-decoration:underline;">Expense Example</span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem or hold all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same (except that the Example incorporates any applicable fee waiver and/or expense limitation arrangements for only the first year). The Example does not reflect charges imposed by the Variable Contract. If the </span><span style="font-family:Arial;font-size:10pt;">separate account fees were reflected, the </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">expenses would be higher. See the Variable Contract </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">prospectus for information on such charges. Although your actual costs may be higher or lower, based on these assumptions and the net expenses shown in the fee table, </span><span style="color:#000000;font-family:Arial;font-size:10pt;">your costs would be:</span> 79 259 455 1020 <span style="color:#000000;font-family:Arial;font-size:10pt;font-style:italic;font-weight:bold;text-decoration:underline;">Portfolio Turnover</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). These costs, which are not reflected in annual fund operating expenses or in the Example, affect the </span><span style="color:#000000;font-family:Arial;font-size:10pt;">Fund’s performance.</span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">During the most recent fiscal year, the Fund’s portfolio turnover rate was </span><span style="font-family:Arial;font-size:10pt;">186%</span><span style="font-family:Arial;font-size:10pt;"> of the average value of its </span><span style="font-family:Arial;font-size:10pt;">portfolio.</span> 1.86 <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Principal Investment Strategies of the Fund</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund aims to give you foreign investment opportunities primarily in investment grade government and government sponsored debt securities.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Also, the </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">Fund attempts to have all of its investments payable in foreign currencies. The Fund may also convert its cash to </span><span style="color:#000000;font-family:Arial;font-size:10pt;">foreign currency. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">Under normal circumstances, at least 80% of net assets of the Fund must be government issued, sponsored, or guaranteed.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The Fund invests at least 65% of total assets </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">in investment grade debt securities. The Fund may invest up to 35% of total assets in below investment grade securities (“junk bonds”). Examples of Fund investments include foreign debt and foreign money market securities, high quality domestic money market securities and debt obligations issued or guaranteed by the U.S. Government, </span><span style="color:#000000;font-family:Arial;font-size:10pt;">and foreign currency exchange transactions. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">Additionally, the Subadviser may attempt to hedge currency exposure, and may invest up to 50% of total assets in futures and options (derivatives), for currency hedging purposes. The Fund may invest significantly in </span><span style="color:#000000;font-family:Arial;font-size:10pt;">government securities of emerging market countries. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund is a non-diversified fund, which means that it may invest in a smaller number of issuers than a </span><span style="color:#000000;font-family:Arial;font-size:10pt;">diversified fund. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">In order to generate additional income, the Fund may lend portfolio securities to broker-dealers and other financial institutions provided that the value of the loaned securities does not exceed 30% of the Fund’s total assets. These </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">loans earn income for the Fund and are collateralized by cash and securities issued or guaranteed by the U.S. </span><span style="font-family:Arial;font-size:10pt;">Government or its agencies or instrumentalities.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund aims to give you foreign investment opportunities primarily in investment grade government and government sponsored debt securities.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">Under normal circumstances, at least 80% of net assets of the Fund must be government issued, sponsored, or guaranteed.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;">Shares of the Fund are not bank deposits and </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">are not guaranteed or insured by any bank, government entity or the Federal Deposit Insurance Corporation.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;"> If the </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">value of the assets of the Fund goes down, you could lose </span><span style="color:#000000;font-family:Arial;font-size:10pt;">money.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Call or Prepayment Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> During periods of falling </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">interest rates, a bond issuer may “call” a bond to repay it before its maturity date. The Fund may only be able to invest the bond’s proceeds at lower interest rates, </span><span style="color:#000000;font-family:Arial;font-size:10pt;">resulting in a decline in the Fund’s income.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Credit Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The Fund may suffer losses if the issuer of </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">a fixed income security owned by the Fund is unable to </span><span style="color:#000000;font-family:Arial;font-size:10pt;">make interest or principal payments.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Currency Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Because the Fund’s foreign investments </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">are generally held in foreign currencies, the Fund could experience gains or losses based solely on changes in the exchange rate between foreign currencies and the U.S. </span><span style="color:#000000;font-family:Arial;font-size:10pt;">dollar. Such gains or losses may be substantial.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Derivatives Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The prices of derivatives may move in </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">unexpected ways due to the use of leverage and other factors and may result in increased volatility or losses. The Fund may not be able to terminate or sell derivative positions, and a liquid secondary market may not always </span><span style="color:#000000;font-family:Arial;font-size:10pt;">exist for derivative positions.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Hedging Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> A hedge is an investment made in order to </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">reduce the risk of adverse price movements in a security, by taking an offsetting position (often through a derivative instrument, such as an option or a short sale). While hedging strategies can be very useful and inexpensive ways of reducing risk, they are sometimes ineffective due to unexpected changes in the market. Hedging also involves the risk that changes in the value of the related security will not match those of the instruments being hedged as expected, in which case any losses on the </span><span style="color:#000000;font-family:Arial;font-size:10pt;">instruments being hedged may not be reduced.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Foreign Investment Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Investment in foreign </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">securities involves risks due to several factors, such as illiquidity, the lack of public information, changes in the </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">exchange rates between foreign currencies and the U.S. dollar, unfavorable political, social and legal developments, or economic and financial instability. Foreign companies are not subject to the U.S. accounting and financial reporting standards and may have riskier settlement procedures. U.S. investments that are denominated in foreign currencies or that are traded in foreign markets, or securities of U.S. companies that have significant foreign operations may be subject to foreign </span><span style="color:#000000;font-family:Arial;font-size:10pt;">investment risk.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Emerging Markets Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> In addition to the risks </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">associated with investments in foreign securities, emerging market securities are subject to additional risks, which cause these securities generally to be more volatile </span><span style="color:#000000;font-family:Arial;font-size:10pt;">than securities of issuers located in developed countries.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Foreign Sovereign Debt Risk. </span><span style="color:#000000;font-family:Arial;font-size:10pt;">Foreign sovereign debt </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">securities are subject to the risk that a governmental entity may delay or refuse to pay interest or to repay principal on its sovereign debt, due, for example, to cash flow problems, insufficient foreign currency reserves, political, social and economic considerations, the relative size of the governmental entity’s debt position in relation to the economy or the failure to put in place economic reforms required by the International Monetary Fund or other multilateral agencies. If a governmental entity defaults, it </span><span style="color:#000000;font-family:Arial;font-size:10pt;">may ask for more time in which to pay or for further loans.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Interest Rate Risk. </span><span style="color:#000000;font-family:Arial;font-size:10pt;">The value of fixed-income securities </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">may decline when interest rates go up or increase when interest rates go down. The interest earned on fixed-income securities may decline when interest rates go down or increase when interest rates go up. Longer-term and lower coupon bonds tend to be more sensitive to changes in interest rates. The Fund may be subject to a greater risk of rising interest rates due to the current period of historically low rates and the effect of potential government fiscal policy initiatives and resulting market reaction to these initiatives. The Fund may be subject to a greater risk of rising interest rates due to the current period of historically low rates and the effect of potential government fiscal policy initiatives and resulting market </span><span style="color:#000000;font-family:Arial;font-size:10pt;">reaction to these initiatives.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Junk Bond Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> High yielding, high risk fixed-income </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">securities (often referred to as “junk bonds”) may involve significantly greater credit risk, market risk and interest rate risk compared to higher rated fixed-income securities. Issuers of junk bonds are less secure financially and their securities are more sensitive to downturns in the economy. The market for junk bonds may not be as liquid as that for </span><span style="color:#000000;font-family:Arial;font-size:10pt;">more highly rated securities.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Market Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The Fund’s share price can fall because of </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">weakness in the broad market, a particular industry, or </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">specific holdings or due to adverse social, political or economic developments here or abroad, changes in investor psychology, technological disruptions, or heavy institutional selling and other conditions or events (including, for example, military confrontations, war, terrorism, trade wars, disease/virus outbreaks and epidemics). The prices of individual securities may fluctuate, sometimes dramatically, from day to day. The prices of stocks and other equity securities tend to be </span><span style="color:#000000;font-family:Arial;font-size:10pt;">more volatile than those of fixed-income securities.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Non-Diversification Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Because the Fund may invest </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">in a smaller number of issuers, its value may be affected to a greater extent by the performance of any one of those issuers or by any single economic, political, market or regulatory event affecting any one of those issues than a </span><span style="color:#000000;font-family:Arial;font-size:10pt;">fund that invests in a larger number of issuers.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Money Market Securities Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> An investment in the </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">Fund is subject to the risk that the value of its investments in high-quality short-term obligations (“money market securities”) may be subject to changes in interest rates, changes in the rating of any money market security and in the ability of an issuer to make payments of interest and </span><span style="color:#000000;font-family:Arial;font-size:10pt;">principal.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">U.S. Government Obligations Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> U.S. Treasury </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">obligations are backed by the “full faith and credit” of the U.S. Government and are generally considered to have low credit risk. Unlike U.S. Treasury obligations, securities issued or guaranteed by federal agencies or authorities and U.S. Government-sponsored instrumentalities or enterprises may or may not be backed by the full faith and credit of the U.S. Government and are therefore subject to greater credit risk than securities issued or guaranteed by </span><span style="color:#000000;font-family:Arial;font-size:10pt;">the U.S. Treasury.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Securities Lending Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Engaging in securities lending </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">could increase the market and credit risk for Fund investments. The Fund may lose money if it does not recover borrowed securities, the value of the collateral falls, or the value of investments made with cash collateral declines. The Fund’s loans will be collateralized by securities issued or guaranteed by the U.S. Government or its agencies and instrumentalities, which subjects the Fund to the credit risk of the U.S. Government or the </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">issuing federal agency or instrumentality. If the value of either the cash collateral or the Fund’s investments of the cash collateral falls below the amount owed to a borrower, the Fund also may incur losses that exceed the amount it earned on lending the security. Securities lending also involves the risks of delay in receiving additional collateral or possible loss of rights in the collateral if the borrower fails. Another risk of securities lending is the risk that the loaned portfolio securities may not be available to the Fund on a timely basis and the Fund may therefore lose </span><span style="color:#000000;font-family:Arial;font-size:10pt;">the opportunity to sell the securities at a desirable price.</span> <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Performance Information</span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">The below bar chart and table illustrate the risks of investing in the Fund by showing changes in the Fund’s performance from calendar year to calendar year and comparing the Fund’s average annual returns to those of the Bloomberg Global Aggregate Index (USD hedged) (a broad-based securities market index) and a blended index, which is comprised of the 70% FTSE WGBI (unhedged) and the 30% JP Morgan EMBI Global Diversified Index (the “Intl Gov Bd Blended Index”), which are relevant to the Fund because they have characteristics similar to the Fund’s investment strategies.</span><span style="font-family:Arial;font-size:10pt;"> Fees and </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">expenses incurred at the contract level are not reflected in the bar chart or table. If these amounts were reflected, returns would be less than those shown. </span><span style="font-family:Arial;font-size:10pt;">Of course, past </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">performance of the Fund is not necessarily an indication </span><span style="font-family:Arial;font-size:10pt;">of how the Fund will perform in the future.</span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">The below bar chart and table illustrate the risks of investing in the Fund by showing changes in the Fund’s performance from calendar year to calendar year and comparing the Fund’s average annual returns to those of the Bloomberg Global Aggregate Index (USD hedged) (a broad-based securities market index) and a blended index, which is comprised of the 70% FTSE WGBI (unhedged) and the 30% JP Morgan EMBI Global Diversified Index (the “Intl Gov Bd Blended Index”), which are relevant to the Fund because they have characteristics similar to the Fund’s investment strategies.</span> <span style="font-family:Arial;font-size:10pt;"> Fees and </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">expenses incurred at the contract level are not reflected in the bar chart or table. If these amounts were reflected, returns would be less than those shown. </span> <span style="font-family:Arial;font-size:10pt;">Of course, past </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">performance of the Fund is not necessarily an indication </span><span style="font-family:Arial;font-size:10pt;">of how the Fund will perform in the future.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;">During the period shown in the bar chart:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Highest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">December 31, 2023</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">8.54%</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Lowest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">June 30, 2022</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">-8.68%</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Year to Date Most </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Recent Quarter:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">June 30, 2026</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">-0.17%</span> <span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Highest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span> 2023-12-31 0.0854 <span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Lowest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span> 2022-06-30 -0.0868 <span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Year to Date Most </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Recent Quarter:</span> 2026-06-30 -0.0017 <span style="font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Average Annual Total Returns</span><span style="font-family:Arial;font-size:10pt;"> (For the periods ended December 31, 2025)</span> 0.0915 -0.0201 0.0164 0.0486 0.0034 0.0239 0.0957 -0.0193 0.0173 <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Investment Objective</span> <span style="color:#000000;font-family:Arial;font-size:10pt;">The Fund seeks capital appreciation.</span> <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Fees and Expenses of the Fund</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">This table describes the fees and expenses that you may pay if you buy, hold and sell shares of the Fund. </span><span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">The table </span><span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">and the example below do not reflect the separate account fees charged in the variable annuity or variable life insurance policy (“Variable Contracts”) in which the Fund is offered.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> If separate account fees were </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">shown, the Fund’s annual operating expenses would be higher. Please see your Variable Contract prospectus for </span><span style="color:#000000;font-family:Arial;font-size:10pt;">more details on the separate account fees.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;text-decoration:underline;">Annual Fund Operating Expenses</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> (expenses that you </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">pay each year as a percentage of the value of your </span><span style="color:#000000;font-family:Arial;font-size:10pt;">investment)</span> 0.0094 0.0014 0.0108 -0.0026 0.0082 <span style="font-family:Arial;font-size:8pt;">September 30, 2027</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-style:italic;font-weight:bold;text-decoration:underline;">Expense Example</span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem or hold all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same (except that the Example incorporates any applicable fee waiver and/or expense limitation arrangements for only the first year). The Example does not reflect charges imposed by the Variable Contract. If the </span><span style="font-family:Arial;font-size:10pt;">separate account fees were reflected, the </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">expenses would be higher. See the Variable Contract prospectus for information on such charges. Although your actual costs may be higher or lower, based on these assumptions and the net expenses shown in the fee table, </span><span style="font-family:Arial;font-size:10pt;">your costs would be:</span> 84 318 570 1294 <span style="color:#000000;font-family:Arial;font-size:10pt;font-style:italic;font-weight:bold;text-decoration:underline;">Portfolio Turnover</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). These costs, which are not reflected in annual fund operating expenses or in the Example, affect the </span><span style="color:#000000;font-family:Arial;font-size:10pt;">Fund’s performance.</span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">During the most recent fiscal year, the Fund’s portfolio </span><span style="font-family:Arial;font-size:10pt;">turnover rate was </span><span style="font-family:Arial;font-size:10pt;">15%</span><span style="font-family:Arial;font-size:10pt;"> of the average value of its portfolio.</span> 0.15 <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Principal Investment Strategies of the Fund</span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">The Fund’s subadviser uses a proprietary investment strategy to invest in companies that it believes will increase in value over time. </span><span style="font-family:Arial;font-size:10pt;">The Fund attempts to achieve </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">its investment objective by investing, under normal circumstances, at least 80% of its net assets in securities of growth companies.</span><span style="font-family:Arial;font-size:10pt;">For purposes of the Fund’s 80% </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">investment policy, a company is considered to be a growth company if it: (i) issues securities that are represented in a third-party growth-style index or that are classified as a growth company by a third-party vendor; or (ii) meets a relevant equity market measurement in at least one “growth metric” similar to those commonly used by third-party index providers or third-party vendors in growth classifications, such as earnings growth, price-to-earnings</span><span style="font-family:Arial;font-size:10pt;"> or sales growth, among others.</span><span style="font-family:Arial;font-size:10pt;">Under normal market conditions, the subadviser seeks to </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">achieve the Fund’s objective by investing primarily in established </span><span style="font-family:Arial;font-size:10pt;">growth companies on an international basis, </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">with capitalizations within the range of companies included in the MSCI ACWI ex USA Index. As of </span><span style="font-family:Arial;font-size:10pt;">August 31, 2026, the market capitalization range of the </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">companies in the MSCI ACWI ex USA Index was </span><span style="font-family:Arial;font-size:10pt;">approximately $0.00 million to $1.867</span><span style="font-family:Arial;font-size:10pt;line-height:12pt;"> </span><span style="font-family:Arial;font-size:10pt;">trillion. </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">The subadviser emphasizes a bottom-up stock selection process, seeking attractive investments on an individual company basis. In selecting securities for investment, the subadviser seeks high-quality, established companies that the subadviser believes </span><span style="font-family:Arial;font-size:10pt;">have attractive valuations at </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">the time of purchase</span><span style="font-family:Arial;font-size:10pt;"> relative to their growth potential. The </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">subadviser typically favors companies it believes have sustainable competitive advantages that can be monetized through growth. The investment process integrates analysis of sustainability with respect to disruptive change, financial strength, environmental and social externalities and governance (also referred to as ESG). The subadviser generally considers selling a portfolio holding when it determines that the holding no longer satisfies its investment criteria because the quality </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">of the company’s business deteriorates or the price relative to the company’s intrinsic value is no longer attractive. The subadviser views incorporating ESG-related potential risks and opportunities within the investment process as important to ensure long-term stewardship of capital. Over extended time horizons, the subadviser believes that ESG risks are more likely to materialize and externalities not borne by the company are more likely to be priced into the value of securities. Since ESG risks could potentially impact the risk and reward profile of investment opportunities, the subadviser typically engages company management in constructive discussions on a range of ESG issues the subadviser </span><span style="color:#000000;font-family:Arial;font-size:10pt;">deems materially important. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund may invest in foreign securities, which may include emerging market securities. Under normal circumstances, the Fund invests at least 40% of its net assets in the securities of issuers from at least three countries outside of the United States. The Fund considers an issuer to be from a particular country (including the United States) or geographic region if: (i) its principal securities trading market is in that country or geographic region; (ii) alone or on a consolidated basis it derives 50% or more of its annual revenue or profits from goods produced, sales made or services performed in that country or geographic region or has at least 50% of its assets in that country or geographic region; or (iii) it is organized under the laws of, or has a principal office in, that country or geographic region. The Fund may invest up to 35% of its total assets (excluding cash) in securities of </span><span style="color:#000000;font-family:Arial;font-size:10pt;">issuers located in emerging market countries. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">For purposes of maintaining exposure of at least 40% of the Fund’s assets to equity securities of issuers located or operating outside the United States, the Fund may also invest in American Depositary Receipts (“ADRs”), Global Depositary Receipts (“GDRs”) and other types of depositary receipts with respect to issuers located or operating outside the United States. The equity securities in which the Fund invests are denominated in both U.S. </span><span style="color:#000000;font-family:Arial;font-size:10pt;">and non-U.S. currencies and include common stock. </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">From time to time, the Fund may have significant investments in particular sectors, including the </span><span style="font-family:Arial;font-size:10pt;">information technology sector.</span> <br/><span style="font-family:Arial;font-size:10pt;margin-left:0%;">In order to generate additional income, the Fund may lend portfolio securities to broker-dealers and other financial institutions provided that the value of the loaned securities does not exceed 30% of the Fund’s total assets. These loans earn income for the Fund and are collateralized by cash and securities issued or guaranteed by the U.S. </span><span style="font-family:Arial;font-size:10pt;">Government or its agencies or instrumentalities.</span> <span style="font-family:Arial;font-size:10pt;">The Fund attempts to achieve </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">its investment objective by investing, under normal circumstances, at least 80% of its net assets in securities of growth companies.</span> <span style="font-family:Arial;font-size:10pt;">For purposes of the Fund’s 80% </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">investment policy, a company is considered to be a growth company if it: (i) issues securities that are represented in a third-party growth-style index or that are classified as a growth company by a third-party vendor; or (ii) meets a relevant equity market measurement in at least one “growth metric” similar to those commonly used by third-party index providers or third-party vendors in growth classifications, such as earnings growth, price-to-earnings</span><span style="font-family:Arial;font-size:10pt;"> or sales growth, among others.</span> <span style="font-family:Arial;font-size:10pt;">For purposes of the Fund’s 80% </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">investment policy, a company is considered to be a growth company if it: (i) issues securities that are represented in a third-party growth-style index or that are classified as a growth company by a third-party vendor; or (ii) meets a relevant equity market measurement in at least one “growth metric” similar to those commonly used by third-party index providers or third-party vendors in growth classifications, such as earnings growth, price-to-earnings</span><span style="font-family:Arial;font-size:10pt;"> or sales growth, among others.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;">Shares of the Fund are not bank deposits and </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">are not guaranteed or insured by any bank, government entity or the Federal Deposit Insurance Corporation.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;"> If the </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">value of the assets of the Fund goes down, you could lose </span><span style="color:#000000;font-family:Arial;font-size:10pt;">money.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Management Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The investment style or strategy used </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">by a subadviser may fail to produce the intended result. A subadviser’s assessment of a particular security or company may prove incorrect, resulting in losses or </span><span style="color:#000000;font-family:Arial;font-size:10pt;">underperformance.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">ESG Investment Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The portfolio manager(s) may </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">utilize ESG criteria, integrate ESG considerations and/or use related analyses to select investments for the  Fund. These strategies may impact the Fund’s performance, including relative to similar funds that do not adhere to such ESG criteria, ESG integration and/or related analyses as part of the investment process. Additionally, the  Fund’s adherence to these strategies in connection with identifying and selecting investments may require subjective and qualitative analysis and may be more difficult if data about a particular company or market is limited, such as with respect to issuers in emerging markets countries. The  Fund may invest in companies that do not reflect the beliefs and values of any particular investor. Socially responsible norms differ by country and region, and a company’s ESG practices or a portfolio manager’s assessment of such may change over time. ESG characteristics may not be the only factors considered in selecting investments and as a result, the  Fund’s investments may not have favorable ESG </span><span style="color:#000000;font-family:Arial;font-size:10pt;">characteristics or high ESG ratings.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Foreign Investment Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Investment in foreign </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">securities involves risks due to several factors, such as illiquidity, the lack of public information, changes in the exchange rates between foreign currencies and the U.S. dollar, unfavorable political, social and legal developments, or economic and financial instability. Foreign companies are not subject to the U.S. accounting and financial reporting standards and may have riskier settlement procedures. U.S. investments that are denominated in foreign currencies or that are traded in foreign markets, or securities of U.S. companies that have </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">significant foreign operations may be subject to foreign investment risk. Economies and financial markets are becoming more connected, which increases the likelihood that conditions in one country or region can adversely </span><span style="color:#000000;font-family:Arial;font-size:10pt;">impact issuers in different countries and regions.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Focused Fund Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The Fund, because it may invest in </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">a limited number of companies, may have more volatility in its net asset value and is considered to have more risk than a portfolio that invests in a greater number of companies because changes in the value of a single security may have a more significant effect, either negative or positive, on the Fund’s net asset value. To the extent the Fund invests its assets in fewer securities, the Fund is subject to greater risk of loss if any of those </span><span style="color:#000000;font-family:Arial;font-size:10pt;">securities decline in price.</span> <span style="font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Consumer Discretionary Risk.</span><span style="font-family:Arial;font-size:10pt;"> To the extent that the </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">Fund invests a substantial portion of its assets in the consumer discretionary sector, the Fund will be particularly susceptible to the risks associated with companies operating in such sector(s). Companies in the consumer discretionary sector are subject to risks, including fluctuations in the performance of the overall domestic and international economy, shipment and supply chain disruptions, interest rate changes, currency exchange rates, increased competition and consumer confidence. Performance of such companies may also be adversely affected by factors such as reduced disposable household income, reduced consumer spending, and </span><span style="font-family:Arial;font-size:10pt;">changing demographics and consumer tastes.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Currency Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Because the Fund’s foreign investments </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">are generally held in foreign currencies, the Fund could experience gains or losses based solely on changes in the exchange rate between foreign currencies and the U.S. </span><span style="color:#000000;font-family:Arial;font-size:10pt;">dollar. Such gains or losses may be substantial.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Depositary Receipts Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;">Depositary receipts are </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">generally subject to the same risks as the foreign securities that they evidence or into which they may be converted. Depositary receipts may or may not be jointly sponsored by the underlying issuer. The issuers of unsponsored depositary receipts are not obligated to disclose information that is considered material in the United States. Therefore, there may be less information available regarding the issuers and there may not be a correlation between such information and the market value of the depositary receipts. Certain depositary receipts are not listed on an exchange and therefore may </span><span style="color:#000000;font-family:Arial;font-size:10pt;">be considered to be illiquid securities.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Emerging Markets Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> In addition to the risks </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">associated with investments in foreign securities, emerging market securities are subject to additional risks, </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">which cause these securities generally to be more volatile </span><span style="color:#000000;font-family:Arial;font-size:10pt;">than securities of issuers located in developed countries.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Equity Securities Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The Fund invests primarily in </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">equity securities and is therefore subject to the risk that stock prices will fall and may underperform other asset classes. Individual stock prices fluctuate from day-to-day and may decline significantly. The prices of individual stocks may be negatively affected by poor company results or other factors affecting individual prices, as well as industry and/or economic trends and developments </span><span style="color:#000000;font-family:Arial;font-size:10pt;">affecting industries or the securities market as a whole.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Large-Cap Companies Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Investing primarily in large-cap</span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;"> companies carries the risk that due to current market conditions these companies may be out of favor with investors. Large-cap companies may be unable to respond quickly to new competitive challenges or attain the high growth rate of successful smaller companies. During periods when equity securities experience heightened volatility, such as during periods of market, economic or financial uncertainty or distress, the Fund’s investments in equity securities may be subject to heightened risks. Larger, more established companies may be unable to respond quickly to new competitive challenges, such as changes in technology and consumer tastes. Larger companies also may not be able to attain the high growth rate of successful smaller companies, particularly during extended periods of economic </span><span style="color:#000000;font-family:Arial;font-size:10pt;">expansion.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Mid-Cap Company Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Investing in mid-cap companies </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">carries the risk that due to current market conditions these companies may be out of favor with investors. Stocks of mid-cap companies may be more volatile than those of larger companies due to, among other reasons, narrower product lines, more limited financial resources and fewer </span><span style="color:#000000;font-family:Arial;font-size:10pt;">experienced managers.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Small-Cap Company Risk. </span><span style="color:#000000;font-family:Arial;font-size:10pt;">Investing in small-cap </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">companies carries the risk that due to current market conditions these companies may be out of favor with investors. Small companies often are in the early stages of development with limited product lines, markets, or financial resources and managements lacking depth and experience, which may cause their stock prices to be more volatile than those of larger companies. Small company stocks may be less liquid yet subject to abrupt or erratic price movements. It may take a substantial period of time before the Fund realizes a gain on an investment in a </span><span style="color:#000000;font-family:Arial;font-size:10pt;">small-cap company, if it realizes any gain at all.</span> <span style="font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Growth Style Risk.</span><span style="font-family:Arial;font-size:10pt;"> Generally, “growth” stocks are stocks </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">of companies that </span><span style="font-family:Arial;font-size:10pt;">have anticipated earnings ranging from </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">steady to accelerated growth. Many investors buy growth </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">stocks because of anticipated superior earnings growth, but earnings disappointments often result in sharp price declines. Growth companies usually invest a high portion of earnings in their own businesses so their stocks may lack the dividends that can cushion share prices in a down market. In addition, the value of growth stocks may be more sensitive to changes in current or expected earnings than the value of other stocks, because growth stocks </span><span style="color:#000000;font-family:Arial;font-size:10pt;">trade at higher prices relative to current earnings.</span> <span style="font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Sector Risk.</span><span style="font-family:Arial;font-size:10pt;"> Companies with similar characteristics may </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">be grouped together in broad categories called sectors. Sector risk is the risk that securities of companies within specific sectors of the economy can perform differently than the overall market. This may be due to changes in such things as the regulatory or competitive environment or to changes in investor perceptions regarding a sector. Because the Fund may allocate relatively more assets to certain sectors than others, the Fund’s performance may be more susceptible to any developments which affect </span><span style="font-family:Arial;font-size:10pt;">those sectors emphasized by the Fund.</span> <span style="font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Technology Sector Risk.</span><span style="font-family:Arial;font-size:10pt;"> Technology stocks historically </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">have experienced unusually wide price swings. Earnings disappointments and intense competition for market share can result in sharp declines in the prices of technology </span><span style="font-family:Arial;font-size:10pt;">stocks.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Liquidity Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> If the active trading market for certain </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">securities becomes limited or non-existent, it can become more difficult to sell the securities at or near their perceived value. This may cause the value of such securities and the Fund’s share price to fall dramatically. Illiquidity can be caused by, among other things, a drop in overall market trading volume, an inability to find a willing </span><span style="color:#000000;font-family:Arial;font-size:10pt;">buyer, or legal restrictions on the securities’ resale.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Market Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The Fund’s share price can fall because of </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">weakness in the broad market, a particular industry, or specific holdings or due to adverse social, political or economic developments here or abroad, changes in investor psychology, technological disruptions, or heavy institutional selling and other conditions or events (including, for example, military confrontations, war, terrorism, trade wars, disease/virus outbreaks and epidemics). The prices of individual securities may fluctuate, sometimes dramatically, from day to day. The prices of stocks and other equity securities tend to be </span><span style="color:#000000;font-family:Arial;font-size:10pt;">more volatile than those of fixed-income securities.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Securities Lending Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Engaging in securities lending </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">could increase the market and credit risk for Fund investments. The Fund may lose money if it does not recover borrowed securities, the value of the collateral falls, or the value of investments made with cash collateral declines. The Fund’s loans will be collateralized by securities issued or guaranteed by the U.S. Government or its agencies and instrumentalities, which subjects the Fund to the credit risk of the U.S. Government or the issuing federal agency or instrumentality. If the value of either the cash collateral or the Fund’s investments of the cash collateral falls below the amount owed to a borrower, the Fund also may incur losses that exceed the amount it earned on lending the security. Securities lending also involves the risks of delay in receiving additional collateral or possible loss of rights in the collateral if the borrower fails. Another risk of securities lending is the risk that the loaned portfolio securities may not be available to the Fund on a timely basis and the Fund may therefore lose </span><span style="color:#000000;font-family:Arial;font-size:10pt;">the opportunity to sell the securities at a desirable price.</span> <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Performance Information</span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">The below bar chart and table illustrate the risks of investing in the Fund by showing changes in the Fund’s performance from calendar year to calendar year and comparing the Fund’s average annual returns to those of the MSCI ACWI ex USA Index (net) (a broad-based securities market index), which is relevant to the Fund because it has characteristics similar to the Fund’s investment strategies.</span><span style="font-family:Arial;font-size:10pt;"> Fees and expenses incurred at the </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">contract level are not reflected in the bar chart or table. If these amounts were reflected, returns would be less than those shown. </span><span style="font-family:Arial;font-size:10pt;">Of course, past performance of the Fund is </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">not necessarily an indication of how the Fund will perform </span><span style="font-family:Arial;font-size:10pt;">in the future.</span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">American Century Investment Management, Inc. served as subadviser of the Fund from its inception until March 7, 2018. Invesco Advisers, Inc. and Massachusetts Financial Services Company </span><span style="font-family:Arial;font-size:10pt;">served as co-subadvisers from </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">June 20, 2005 to March 7, 2018. Morgan Stanley Investment Management Inc. (</span><span style="font-family:Arial;font-size:10pt;">“MSIM Inc.”) assumed sole subadvisory duties of the Fund on March 8, 2018. </span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">The below bar chart and table illustrate the risks of investing in the Fund by showing changes in the Fund’s performance from calendar year to calendar year and comparing the Fund’s average annual returns to those of the MSCI ACWI ex USA Index (net) (a broad-based securities market index), which is relevant to the Fund because it has characteristics similar to the Fund’s investment strategies.</span> <span style="font-family:Arial;font-size:10pt;"> Fees and expenses incurred at the </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">contract level are not reflected in the bar chart or table. If these amounts were reflected, returns would be less than those shown. </span> <span style="font-family:Arial;font-size:10pt;">Of course, past performance of the Fund is </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">not necessarily an indication of how the Fund will perform </span><span style="font-family:Arial;font-size:10pt;">in the future.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;">During the period shown in the bar chart:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Highest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">June 30, 2020</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">19.73%</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Lowest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">June 30, 2022</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">-20.31%</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Year to Date Most </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Recent Quarter:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">June 30, 2026</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">2.83%</span> <span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Highest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span> 2020-06-30 0.1973 <span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Lowest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span> 2022-06-30 -0.2031 <span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Year to Date Most </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Recent Quarter:</span> 2026-06-30 0.0283 <span style="font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Average Annual Total Returns</span><span style="font-family:Arial;font-size:10pt;"> (For the periods ended December 31, 2025)</span> 0.1607 0.0186 0.0833 0.3239 0.0791 0.0841 <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Investment Objective</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund seeks to provide long-term capital appreciation through equity and equity-related investments of small to mid cap companies throughout the world, excluding the </span><span style="color:#000000;font-family:Arial;font-size:10pt;">United States.</span> <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Fees and Expenses of the Fund</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">This table describes the fees and expenses that you may pay if you buy, hold and sell shares of the Fund. </span><span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">The table </span><span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">and the example below do not reflect the separate account fees charged in the variable annuity or variable life insurance policy (“Variable Contracts”) in which the Fund is offered.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> If separate account fees were </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">shown, the Fund’s annual operating expenses would be higher. Please see your Variable Contract prospectus for </span><span style="color:#000000;font-family:Arial;font-size:10pt;">more details on the separate account fees.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;text-decoration:underline;">Annual Fund Operating Expenses</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> (expenses that you </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">pay each year as a percentage of the value of your </span><span style="color:#000000;font-family:Arial;font-size:10pt;">investment)</span> 0.0083 0.0025 0.0108 -0.0003 0.0105 <span style="font-family:Arial;font-size:8pt;">September 30, 2027</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-style:italic;font-weight:bold;text-decoration:underline;">Expense Example</span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem or hold all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same (except that the Example incorporates any applicable fee waiver and/or expense limitation arrangements for only the first year). The Example does not reflect charges imposed by the Variable Contract. If the </span><span style="font-family:Arial;font-size:10pt;">separate account fees were reflected, the </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">expenses would be higher. See the Variable Contract prospectus for information on such charges. Although your actual costs may be higher or lower, based on these </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">assumptions and the net expenses shown in the fee table, </span><span style="color:#000000;font-family:Arial;font-size:10pt;">your costs would be:</span> 107 340 593 1314 <span style="color:#000000;font-family:Arial;font-size:10pt;font-style:italic;font-weight:bold;text-decoration:underline;">Portfolio Turnover</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). These costs, which are not reflected in annual fund operating expenses or in the Example, affect the </span><span style="color:#000000;font-family:Arial;font-size:10pt;">Fund’s performance.</span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">During the most recent fiscal year, the Fund’s portfolio turnover rate was </span><span style="font-family:Arial;font-size:10pt;">105%</span><span style="font-family:Arial;font-size:10pt;"> of the average value of its </span><span style="font-family:Arial;font-size:10pt;">portfolio.</span> 1.05 <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Principal Investment Strategies of the Fund</span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">Under normal market conditions, at least 80% of the Fund’s net assets will be invested in equity and equity-related securities of small- to mid-cap companies throughout the world, excluding the United States.</span><span style="font-family:Arial;font-size:10pt;">The </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">Fund will invest primarily in small- to mid-cap companies whose capitalization, at the time of purchase, range from the market capitalization of the smallest company included in the MSCI ACWI ex USA Small and Mid-Cap Index (net) (the “Index”) to the market capitalization of the largest company in the Index during the most recent 12-month period.</span><span style="font-family:Arial;font-size:10pt;">A company’s “market capitalization” is the </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">value of its outstanding stock.</span><span style="font-family:Arial;font-size:10pt;"> As of August 31, 2026, the </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">market capitalizations of companies included in the Index ranged from $</span><span style="font-family:Arial;font-size:10pt;">0.00 million to $39.315 billion, with a median </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">market capitalization of $</span><span style="font-family:Arial;font-size:10pt;">1.05 billion. </span><span style="font-family:Arial;font-size:10pt;">For purposes of the </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">Fund’s 80% test above, the Fund may buy stocks and other equity securities of companies that are organized under the laws of a foreign country or that have a substantial portion of their operations or assets in a foreign country or countries, or that derive a substantial portion of their revenue or profits from businesses</span><span style="font-family:Arial;font-size:10pt;">, </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">investments or sales outside of the United States, or whose “country of risk” is a foreign country as determined by a third party service provider.</span><span style="font-family:Arial;font-size:10pt;"> The Fund may hold </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">foreign currencies and non-dollar denominated foreign securities. The Fund also invests in depositary receipts, which are instruments issued by a bank that represent an </span><span style="font-family:Arial;font-size:10pt;">interest in a foreign issuer’s securities. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund is not limited in the amount it invests in any one country or region. The subadvisers will try to select a wide range of industries and companies and may invest in developing or emerging market countries. Equity securities in which the Fund may invest include common stocks, preferred stocks, convertible securities and, as noted above, depositary receipts. Although the Fund </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">invests primarily in equity securities, it may invest in fixed-income securities from time-to-time up to 20% of the </span><span style="color:#000000;font-family:Arial;font-size:10pt;">Fund’s net assets. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund does not employ a currency overlay strategy, but may consider currency implications during fundamental </span><span style="color:#000000;font-family:Arial;font-size:10pt;">research of companies. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">Each of the Fund’s subadvisers manages a portion of the </span><span style="color:#000000;font-family:Arial;font-size:10pt;">Fund’s assets using different investment approach. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">One subadviser employs a bottom-up approach, selecting securities that it believes to represent above-average potential for capital appreciation, based on fundamental research and analysis. The subadviser seeks to develop a portfolio that is broadly diversified across issuers, countries, industries and styles (e.g., growth and value). Because the subadviser’s process is driven primarily by individual stock selection, the overall portfolio’s yield, price to earnings ratio, price-to-book ratio, growth rate and other characteristics will vary over time and, at any given time, </span><span style="color:#000000;font-family:Arial;font-size:10pt;">may emphasize either growth stocks or value stocks. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The other subadviser also evaluates investment opportunities using a bottom-up investment approach. This approach includes fundamental analysis of a company’s financial statements, management record and structure, operations, product development and industry competitive position. In addition, the subadviser may also look for companies with conservatively-capitalized balance sheets, high and consistent internal rates of return, and a favorable market position within healthy and growing industries. These factors may vary in particular cases and may change over time. The Fund may invest in securities of issuers that are considered by the Fund’s subadviser to have potential for earnings or revenue growth. The subadviser considers the effect of worldwide trends on the growth of particular business sectors and looks for companies that may benefit from those trends. The subadviser monitors individual issuers for changes in the factors above, which may trigger a decision to sell a </span><span style="color:#000000;font-family:Arial;font-size:10pt;">security. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">In order to generate additional income, the Fund may lend portfolio securities to broker-dealers and other financial institutions provided that the value of the loaned securities does not exceed 30% of the Fund’s total assets. These loans earn income for the Fund and are collateralized by cash and securities issued or guaranteed by the U.S. </span><span style="color:#000000;font-family:Arial;font-size:10pt;">Government or its agencies or instrumentalities.</span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">Under normal market conditions, at least 80% of the Fund’s net assets will be invested in equity and equity-related securities of small- to mid-cap companies throughout the world, excluding the United States.</span> <span style="font-family:Arial;font-size:10pt;">The </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">Fund will invest primarily in small- to mid-cap companies whose capitalization, at the time of purchase, range from the market capitalization of the smallest company included in the MSCI ACWI ex USA Small and Mid-Cap Index (net) (the “Index”) to the market capitalization of the largest company in the Index during the most recent 12-month period.</span><span style="font-family:Arial;font-size:10pt;">For purposes of the </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">Fund’s 80% test above, the Fund may buy stocks and other equity securities of companies that are organized under the laws of a foreign country or that have a substantial portion of their operations or assets in a foreign country or countries, or that derive a substantial portion of their revenue or profits from businesses</span><span style="font-family:Arial;font-size:10pt;">, </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">investments or sales outside of the United States, or whose “country of risk” is a foreign country as determined by a third party service provider.</span> <span style="font-family:Arial;font-size:10pt;">A company’s “market capitalization” is the </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">value of its outstanding stock.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;">Shares of the Fund are not bank deposits and </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">are not guaranteed or insured by any bank, government entity or the Federal Deposit Insurance Corporation.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;"> If the </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">value of the assets of the Fund goes down, you could lose </span><span style="color:#000000;font-family:Arial;font-size:10pt;">money.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Management Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The investment style or strategy used </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">by the Fund may fail to produce the intended result. A subadviser’s assessment of a particular security or company may prove incorrect, resulting in losses or </span><span style="color:#000000;font-family:Arial;font-size:10pt;">underperformance.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Currency Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Because the Fund’s foreign investments </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">are generally held in foreign currencies, the Fund could experience gains or losses based solely on changes in the exchange rate between foreign currencies and the U.S. </span><span style="color:#000000;font-family:Arial;font-size:10pt;">dollar. Such gains or losses may be substantial.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Foreign Investment Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Investment in foreign </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">securities involves risks due to several factors, such as illiquidity, the lack of public information, changes in the exchange rates between foreign currencies and the U.S. dollar, unfavorable political, social and legal developments, or economic and financial instability. Foreign companies are not subject to the U.S. accounting and financial reporting standards and may have riskier settlement procedures. U.S. investments that are denominated in foreign currencies or that are traded in foreign markets, or securities of U.S. companies that have significant foreign operations may be subject to foreign </span><span style="color:#000000;font-family:Arial;font-size:10pt;">investment risk.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Emerging Markets Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> In addition to the risks </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">associated with investments in foreign securities, emerging market securities are subject to additional risks, which cause these securities generally to be more volatile </span><span style="color:#000000;font-family:Arial;font-size:10pt;">than securities of issuers located in developed countries.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Equity Securities Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The Fund’s investments in equity </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">securities are subject to the risk that stock prices will fall and may underperform other asset classes. Individual stock prices fluctuate from day-to-day and may decline significantly. The prices of individual stocks may be negatively affected by poor company results or other factors affecting individual prices, as well as industry and/or economic trends and developments affecting industries </span><span style="color:#000000;font-family:Arial;font-size:10pt;">or the securities market as a whole.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">European Investment Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The Economic and </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">Monetary Union (the EMU) of the European Union (the EU) requires compliance by member countries with restrictions on inflation rates, deficits, interest rates, debt levels and fiscal and monetary controls, each of which may significantly affect every country in Europe. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">Decreasing imports or exports, changes in governmental or EU regulations on trade, changes in the exchange rate of the euro, the default or threat of default by an EU member country on its sovereign debt, and/or an economic recession in an EU member country may have significant adverse effects on the economies of EU member countries and the EU and Europe as a whole. Responses to these and other financial problems by European governments, central banks, and others, including austerity measures and reforms, may not produce the desired results, may limit future growth and economic recovery, or may result in social unrest, or have other unintended consequences. Further defaults or restructurings by governments and other entities of their debt could have additional adverse effects on economies, financial markets, and asset valuations around the world. A number of countries in Eastern Europe remain relatively undeveloped and can be particularly sensitive to political and economic developments. Separately, the EU faces issues involving its membership, structure, procedures and policies. The exit of one or more member countries from the European Union, such as the departure of the United Kingdom (the UK), referred to as Brexit, could place the departing member’s currency and banking system under severe stress or even in jeopardy. An exit by other member countries will likely result in increased volatility, illiquidity and potentially lower economic growth in the affected markets, which will adversely affect the </span><span style="color:#000000;font-family:Arial;font-size:10pt;">Fund’s investments.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Depositary Receipts Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;">Depositary receipts are </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">generally subject to the same risks as the foreign securities that they evidence or into which they may be converted. Depositary receipts may or may not be jointly sponsored by the underlying issuer. The issuers of unsponsored depositary receipts are not obligated to disclose information that is considered material in the United States. Therefore, there may be less information available regarding the issuers and there may not be a correlation between such information and the market value of the depositary receipts. Certain depositary receipts are not listed on an exchange and therefore are </span><span style="color:#000000;font-family:Arial;font-size:10pt;">subject to illiquidity risk.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Geographic Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> If the Fund invests a significant portion </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">of its assets in issuers located in a single country, a limited number of countries, or a particular geographic region, it assumes the risk that economic, political and social conditions in those countries or that region may have a </span><span style="color:#000000;font-family:Arial;font-size:10pt;">significant impact on its investment performance.</span> <span style="font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Growth Style Risk.</span><span style="font-family:Arial;font-size:10pt;"> Generally, “growth” stocks are stocks </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">of companies that </span><span style="font-family:Arial;font-size:10pt;">have anticipated earnings ranging from </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">steady to accelerated growth. Many investors buy growth stocks because of anticipated superior earnings growth, </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">but earnings disappointments often result in sharp price declines. Growth companies usually invest a high portion of earnings in their own businesses so their stocks may lack the dividends that can cushion share prices in a down market. In addition, the value of growth stocks may be more sensitive to changes in current or expected earnings than the value of other stocks, because growth stocks </span><span style="color:#000000;font-family:Arial;font-size:10pt;">trade at higher prices relative to current earnings.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Japan Exposure Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The Japanese economy faces a </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">number of long-term problems, including massive government debt, the aging and shrinking of the population, an unstable financial sector and low domestic consumption. The growth of Japan’s economy has recently lagged behind that of its Asian neighbors and other major developed economies. The Japanese economy is heavily dependent on international trade and may be adversely affected by trade tariffs, other protectionist measures, dependence on exports and international trade, increasing competition from Asia’s other low-cost emerging economies, political and social instability, regional and global conflicts and natural disasters, as well as by commodity markets fluctuations </span><span style="color:#000000;font-family:Arial;font-size:10pt;">related to Japan’s limited natural resource supply.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Market Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The Fund’s share price can fall because of </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">weakness in the broad market, a particular industry, or specific holdings or due to adverse social, political or economic developments here or abroad, changes in investor psychology, technological disruptions, or heavy institutional selling and other conditions or events (including, for example, military confrontations, war, terrorism, trade wars, disease/virus outbreaks and epidemics). The prices of individual securities may fluctuate, sometimes dramatically, from day to day. The prices of stocks and other equity securities tend to be </span><span style="color:#000000;font-family:Arial;font-size:10pt;">more volatile than those of fixed-income securities.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Securities Lending Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Engaging in securities lending </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">could increase the market and credit risk for Fund investments. The Fund may lose money if it does not recover borrowed securities, the value of the collateral falls, or the value of investments made with cash collateral declines. The Fund’s loans will be collateralized by securities issued or guaranteed by the U.S. Government or its agencies and instrumentalities, which subjects the Fund to the credit risk of the U.S. Government or the issuing federal agency or instrumentality. If the value of either the cash collateral or the Fund’s investments of the cash collateral falls below the amount owed to a borrower, the Fund also may incur losses that exceed the amount it earned on lending the security. Securities lending also involves the risks of delay in receiving additional collateral or possible loss of rights in the collateral if the borrower fails. Another risk of securities lending is the risk that the </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">loaned portfolio securities may not be available to the Fund on a timely basis and the Fund may therefore lose </span><span style="color:#000000;font-family:Arial;font-size:10pt;">the opportunity to sell the securities at a desirable price.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Mid-Cap Company Risk. </span><span style="color:#000000;font-family:Arial;font-size:10pt;">Investing in mid-cap companies </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">carries the risk that due to current market conditions these companies may be out of favor with investors. Stocks of mid-cap companies may be more volatile than those of larger companies due to, among other reasons, narrower product lines, more limited financial resources and fewer </span><span style="color:#000000;font-family:Arial;font-size:10pt;">experienced managers.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Small-Cap Company Risk. </span><span style="color:#000000;font-family:Arial;font-size:10pt;">Investing in small-cap </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">companies carries the risk that due to current market conditions these companies may be out of favor with investors. Small companies often are in the early stages of development with limited product lines, markets, or financial resources and managements lacking depth and experience, which may cause their stock prices to be more volatile than those of larger companies. Small company stocks may be less liquid yet subject to abrupt or erratic price movements. It may take a substantial period of time before the Fund realizes a gain on an investment in a </span><span style="color:#000000;font-family:Arial;font-size:10pt;">small-cap company, if it realizes any gain at all.</span> <span style="font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Sector Risk</span><span style="font-family:Arial;font-size:10pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:10pt;"> Companies with similar characteristics may </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">be grouped together in broad categories called sectors. Sector risk is the risk that securities of companies within specific sectors of the economy can perform differently than the overall market. This may be due to changes in such things as the regulatory or competitive environment or to changes in investor perceptions regarding a sector. Because the Fund may allocate relatively more assets to certain sectors than others, the Fund’s performance may be more susceptible to any developments which affect </span><span style="font-family:Arial;font-size:10pt;">those sectors emphasized by the Fund.</span> <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Performance Information</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">As a result of a reorganization which occurred on May 24, 2021 (the “Reorganization”), the Fund acquired all of the assets and liabilities of the International Opportunities Fund (the “Predecessor Fund”), a series of VALIC Company II. The returns presented for the Fund reflect the performance of the Predecessor Fund. The Fund had not yet commenced operations prior to the Reorganization. The performance information below is based on the </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">performance of the Predecessor Fund for periods prior to the date of the Reorganization. The Fund and the Predecessor Fund had the same investment objectives, strategies and portfolio management team as of the date </span><span style="color:#000000;font-family:Arial;font-size:10pt;">of the Reorganization. </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">The below bar chart and table illustrate the risks of investing in the Fund by showing changes in the Fund’s performance from calendar year to calendar year and comparing the Fund’s average annual returns to those of the MSCI ACWI ex USA Index (net) (a broad-based securities market index) and the MSCI ACWI ex USA SMID Cap Index (net), which is relevant to the Fund because it has characteristics similar to the Fund’s investment strategies.</span><span style="font-family:Arial;font-size:10pt;"> Fees and expenses incurred at the </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">contract level are not reflected in the bar chart or table. If these amounts were reflected, returns would be less than those shown. </span><span style="font-family:Arial;font-size:10pt;">Of course, past performance of the Fund is </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">not necessarily an indication of how the Fund will perform </span><span style="font-family:Arial;font-size:10pt;">in the future.</span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">Effective September 28, 2023, Invesco Advisers, Inc.  (“Invesco”) and Wellington Management Company LLP (“Wellington Management”) assumed subadvisory responsibilities for the Fund. Prior to September 28, 2023, Delaware Investments Fund Advisers and Massachusetts Financial Services Company served as subadvisers to the </span><span style="font-family:Arial;font-size:10pt;">Fund and the Predecessor Fund.</span> <br/><span style="font-family:Arial;font-size:10pt;margin-left:0%;">The percentage of the Fund’s assets that each subadviser manages may, at the adviser’s discretion, change from </span><span style="font-family:Arial;font-size:10pt;">time to time. </span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">The below bar chart and table illustrate the risks of investing in the Fund by showing changes in the Fund’s performance from calendar year to calendar year and comparing the Fund’s average annual returns to those of the MSCI ACWI ex USA Index (net) (a broad-based securities market index) and the MSCI ACWI ex USA SMID Cap Index (net), which is relevant to the Fund because it has characteristics similar to the Fund’s investment strategies.</span> <span style="font-family:Arial;font-size:10pt;"> Fees and expenses incurred at the </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">contract level are not reflected in the bar chart or table. If these amounts were reflected, returns would be less than those shown. </span> <span style="font-family:Arial;font-size:10pt;">Of course, past performance of the Fund is </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">not necessarily an indication of how the Fund will perform </span><span style="font-family:Arial;font-size:10pt;">in the future.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;">During the period shown in the bar chart:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Highest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">June 30, 2020</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">24.04%</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Lowest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">March 31, 2020</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">-24.77%</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Year to Date Most </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Recent Quarter:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">June 30, 2026</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">5.44%</span> <span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Highest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span> 2020-06-30 0.2404 <span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Lowest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span> 2020-03-31 -0.2477 <span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Year to Date Most </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Recent Quarter:</span> 2026-06-30 0.0544 <span style="font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Average Annual Total Returns</span><span style="font-family:Arial;font-size:10pt;"> (For the periods ended December 31, 2025)</span> 0.2746 0.0274 0.0676 0.3239 0.0791 0.0841 0.3074 0.0680 0.0787 <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Investment Objective</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund seeks to obtain growth of capital through investment, primarily in equity securities of companies </span><span style="color:#000000;font-family:Arial;font-size:10pt;">which meet the social criteria established for the Fund.</span> <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Fees and Expenses of the Fund</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">This table describes the fees and expenses that you may pay if you buy, hold and sell shares of the Fund. </span><span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">The table </span><span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">and the example below do not reflect the separate account fees charged in the variable annuity or variable life insurance policy (“Variable Contracts”) in which the Fund is offered.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> If separate account fees were </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">shown, the Fund’s annual operating expenses would be higher. Please see your Variable Contract prospectus for </span><span style="color:#000000;font-family:Arial;font-size:10pt;">more details on the separate account fees.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;text-decoration:underline;">Annual Fund Operating Expenses</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> (expenses that you </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">pay each year as a percentage of the value of your </span><span style="color:#000000;font-family:Arial;font-size:10pt;">investment)</span> 0.0050 0.0016 0.0066 -0.0009 0.0057 <span style="font-family:Arial;font-size:8pt;">September 30, 2027</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-style:italic;font-weight:bold;text-decoration:underline;">Expense Example</span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem or hold all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same (except that the Example incorporates any applicable fee waiver and/or expense limitation arrangements for only the first year). The Example does not reflect charges imposed by the Variable Contract. If the </span><span style="font-family:Arial;font-size:10pt;">separate account fees were reflected, the </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">expenses would be higher. See the Variable Contract prospectus for information on such charges. Although your actual costs may be higher or lower, based on these </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">assumptions and the net expenses shown in the fee table, </span><span style="color:#000000;font-family:Arial;font-size:10pt;">your costs would be:</span> 58 202 359 814 <span style="color:#000000;font-family:Arial;font-size:10pt;font-style:italic;font-weight:bold;text-decoration:underline;">Portfolio Turnover</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). These costs, which are not reflected in annual fund operating expenses or in the Example, affect the </span><span style="color:#000000;font-family:Arial;font-size:10pt;">Fund’s performance.</span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">During the most recent fiscal year, the Fund’s portfolio </span><span style="font-family:Arial;font-size:10pt;">turnover rate was </span><span style="font-family:Arial;font-size:10pt;">9%</span><span style="font-family:Arial;font-size:10pt;"> of the average value of its portfolio.</span> 0.09 <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Principal Investment Strategies of the Fund</span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">The Fund invests, under normal circumstances, at least 80% of its net assets in the </span><span style="font-family:Arial;font-size:10pt;">securities of companies that </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">meet the Fund’s social criteria</span><span style="font-family:Arial;font-size:10pt;">.</span><span style="font-family:Arial;font-size:10pt;">The Fund will invest in </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">issuers </span><span style="font-family:Arial;font-size:10pt;">located in at least three different countries with at </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">least 40% of net assets in foreign securities, or if conditions are unfavorable, at least 30% of net assets in foreign securities. The Fund will generally invest in the equity securities of large- and mid-cap companies domiciled in Europe, Australasia and the Far East. </span><span style="font-family:Arial;font-size:10pt;">To </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">determine which companies meet the Fund’s social criteria, the subadviser incorporates into its investment process research services from an independent social research service, MSCI ESG Research, LLC (“MSCI ESG Research”). The Fund does not invest in the securities of companies that do not meet its social criteria.</span><span style="font-family:Arial;font-size:10pt;"> The Fund’s </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">subadviser will generally assess whether a company continues to meet the social criteria on a monthly basis. The Fund may invest up to 20% of net assets in other securities of companies that meet the Fund’s social criteria, including preferred stock, convertible securities, and high quality money market securities and warrants. The Fund may engage in frequent and active trading of portfolio securities to achieve the Fund’s investment </span><span style="font-family:Arial;font-size:10pt;">objective. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The principal investment technique of the Fund is to approximate the capitalization weighted total rate of return of the MSCI EAFE Index (net) (the “MSCI EAFE Index”), however, the Fund shall exclude securities screened out to meet the social criteria established for the </span><span style="color:#000000;font-family:Arial;font-size:10pt;">Fund. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The portfolio managers select securities from the MSCI EAFE Index that meet the Fund’s social criteria, and by employing a statistical technique known as “optimization.” Through this selection process, the portfolio managers </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">seek to select a portfolio of securities that will approximate the capitalization weighted total rate of return of the MSCI EAFE Index while maintaining similar risk characteristics to the MSCI EAFE Index. The MSCI EAFE Index is an equity index which captures large and mid cap representation across 21 developed markets countries around the world, excluding the U.S. and Canada. Because the Fund limits its selection to securities that meet its social criteria, not all of the securities in the MSCI EAFE Index are included in its portfolio, and the Fund’s holdings may be underweight or overweight particular securities, sectors or industries within the MSCI EAFE Index. The subadviser may use derivatives in seeking to track the performance of the MSCI EAFE Index, including </span><span style="color:#000000;font-family:Arial;font-size:10pt;">futures and total return swaps. </span><span style="color:#000000;font-family:Arial;font-size:10pt;">The Fund’s social criteria are as follows: </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund does not invest in companies that have </span><span style="color:#000000;font-family:Arial;font-size:10pt;">significant revenues derived from: </span><span style="color:#000000;font-family:Arial;font-size:10pt;">•</span><span style="color:#000000;font-family:Arial;font-size:10pt;">the manufacture or distribution of civilian firearms, military weapons or weapons delivery systems; </span><span style="color:#000000;font-family:Arial;font-size:10pt;">•</span><span style="color:#000000;font-family:Arial;font-size:10pt;">the manufacture or distribution of alcoholic beverages or tobacco products; </span><span style="color:#000000;font-family:Arial;font-size:10pt;">•</span><span style="color:#000000;font-family:Arial;font-size:10pt;">the operation of gambling-related businesses; and </span><span style="color:#000000;font-family:Arial;font-size:10pt;">•</span><span style="color:#000000;font-family:Arial;font-size:10pt;">the production of nuclear energy.</span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">The Fund’s revenue criteria are established by the Fund’s </span><span style="font-family:Arial;font-size:10pt;">subadviser and are applied based on MSCI ESG Research revenue calculations. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund also excludes companies with low environmental, social and governance controversy scores, as determined and provided by MSCI ESG Research. MSCI ESG Research uses a rules based methodology to assess issuers on key environmental, social, and governance issues (“MSCI Controversy Case Score”), including: (1) environmental issues such as climate change, natural resources, pollution and waste, and environmental opportunities; (2) social issues such as human capital, product liability, stakeholder opposition and social opportunities; and (3) governance issues such </span><span style="color:#000000;font-family:Arial;font-size:10pt;">as corporate governance and corporate behavior. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund does not invest in companies that, based on low </span><span style="color:#000000;font-family:Arial;font-size:10pt;">MSCI Controversy Case Scores: </span><span style="color:#000000;font-family:Arial;font-size:10pt;">•</span><span style="color:#000000;font-family:Arial;font-size:10pt;">have a history of poor labor-management relations; </span><span style="color:#000000;font-family:Arial;font-size:10pt;">•</span><span style="color:#000000;font-family:Arial;font-size:10pt;">engage in businesses or have products that have a severely negative impact on the environment; </span><span style="color:#000000;font-family:Arial;font-size:10pt;">•</span><span style="color:#000000;font-family:Arial;font-size:10pt;">have significant business operations in countries whose governments pose human rights </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0.00%;">concerns; operate businesses that have a significantly adverse impact on the communities </span><span style="color:#000000;font-family:Arial;font-size:10pt;">in which they are located; </span><span style="color:#000000;font-family:Arial;font-size:10pt;">•</span><span style="color:#000000;font-family:Arial;font-size:10pt;">engage in businesses or have products that have a severely negative impact on their customers, which may include companies that have products that pose safety or health concerns, engage in practices that are anti-competitive or have marketing that is inappropriate or misleading; and </span><span style="color:#000000;font-family:Arial;font-size:10pt;">•</span><span style="color:#000000;font-family:Arial;font-size:10pt;">have a history of poor business ethics, which may include companies that have incidents of bribery or fraud, or poor governance structures. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">In order to generate additional income, the Fund may lend portfolio securities to broker-dealers and other financial institutions provided that the value of the loaned securities does not exceed 30% of the Fund’s total assets. These loans earn income for the Fund and are collateralized by cash and securities issued or guaranteed by the U.S. </span><span style="color:#000000;font-family:Arial;font-size:10pt;">Government or its agencies or instrumentalities. </span><span style="font-family:Arial;font-size:10pt;">Since the Fund’s definition of social criteria is not </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">“fundamental,” VC I’s Board of Directors may change it </span><span style="font-family:Arial;font-size:10pt;">without shareholder approval.</span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">The Fund invests, under normal circumstances, at least 80% of its net assets in the </span><span style="font-family:Arial;font-size:10pt;">securities of companies that </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">meet the Fund’s social criteria</span><span style="font-family:Arial;font-size:10pt;">.</span> <span style="font-family:Arial;font-size:10pt;">To </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">determine which companies meet the Fund’s social criteria, the subadviser incorporates into its investment process research services from an independent social research service, MSCI ESG Research, LLC (“MSCI ESG Research”). The Fund does not invest in the securities of companies that do not meet its social criteria.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;">The Fund’s social criteria are as follows: </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund does not invest in companies that have </span><span style="color:#000000;font-family:Arial;font-size:10pt;">significant revenues derived from: </span><span style="color:#000000;font-family:Arial;font-size:10pt;">•</span><span style="color:#000000;font-family:Arial;font-size:10pt;">the manufacture or distribution of civilian firearms, military weapons or weapons delivery systems; </span><span style="color:#000000;font-family:Arial;font-size:10pt;">•</span><span style="color:#000000;font-family:Arial;font-size:10pt;">the manufacture or distribution of alcoholic beverages or tobacco products; </span><span style="color:#000000;font-family:Arial;font-size:10pt;">•</span><span style="color:#000000;font-family:Arial;font-size:10pt;">the operation of gambling-related businesses; and </span><span style="color:#000000;font-family:Arial;font-size:10pt;">•</span><span style="color:#000000;font-family:Arial;font-size:10pt;">the production of nuclear energy.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;">Shares of the Fund are not bank deposits and </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">are not guaranteed or insured by any bank, government entity or the Federal Deposit Insurance Corporation.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;"> If the </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">value of the assets of the Fund goes down, you could lose </span><span style="color:#000000;font-family:Arial;font-size:10pt;">money.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Derivatives Risk. </span><span style="color:#000000;font-family:Arial;font-size:10pt;">The prices of derivatives may move in </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">unexpected ways due to the use of leverage and other factors and may result in increased volatility or losses. The Fund may not be able to terminate or sell derivative positions, and a liquid secondary market may not always </span><span style="color:#000000;font-family:Arial;font-size:10pt;">exist for derivative positions.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Equity Securities Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The Fund invests primarily in </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">equity securities and is therefore subject to the risk that stock prices will fall and may underperform other asset classes. Individual stock prices fluctuate from day-to-day and may decline significantly. The prices of individual stocks may be negatively affected by poor company results or other factors affecting individual prices, as well </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">as industry and/or economic trends and developments </span><span style="color:#000000;font-family:Arial;font-size:10pt;">affecting industries or the securities market as a whole.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Failure to Match Index Performance Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The ability of </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">the Fund to match the performance of the MSCI EAFE Index may be affected by, among other things, changes in securities markets, the manner in which performance of the MSCI EAFE Index is calculated, changes in the composition of the MSCI EAFE Index, the amount and timing of cash flows into and out of the Fund, commissions, portfolio expenses, and any differences in the pricing of securities by the Fund and the MSCI EAFE Index. When the Fund employs an “optimization” strategy, the Fund is subject to an increased risk of tracking error, in that the securities selected in the aggregate for the </span><span style="color:#000000;font-family:Arial;font-size:10pt;">Fund may perform differently than the MSCI EAFE Index.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">ESG Investment Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The Fund’s adherence to its social </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">criteria and application of related analyses when selecting investments may negatively impact the Fund’s performance, including relative to similar funds that use different criteria, or to funds that do not adhere to such criteria or apply such analyses. Social criteria screening limits the availability of investment opportunities for the Fund. If the Fund changes its social criteria or a company stops meeting the Fund’s social criteria, the Fund will sell the affected investments even if this means the Fund loses money. The employment of an independent social research service to assess social criteria and reliance on potentially incomplete or inaccurate data may further negatively affect outcomes. The Fund may invest in companies that do not reflect the beliefs and values of any particular investor. Socially responsible norms differ by country and region, and a company’s practices or the </span><span style="color:#000000;font-family:Arial;font-size:10pt;">Fund’s assessment of such may change over time.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Foreign Investment Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Investment in foreign </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">securities involves risks due to several factors, such as illiquidity, the lack of public information, changes in the exchange rates between foreign currencies and the U.S. dollar, unfavorable political, social and legal developments, or economic and financial instability. Foreign companies are not subject to the U.S. accounting and financial reporting standards and may have riskier settlement procedures. U.S. investments that are denominated in foreign currencies or that are traded in foreign markets, or securities of U.S. companies that have significant foreign operations may be subject to foreign </span><span style="color:#000000;font-family:Arial;font-size:10pt;">investment risk.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Large- and Mid-Cap Companies Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Investing in large- </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">and mid-cap companies carries the risk that due to current market conditions these companies may be out of favor with investors. Large-cap companies may be unable to respond quickly to new competitive challenges or attain the high growth rate of successful smaller companies. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">Stocks of mid-cap companies may be more volatile than those of larger companies due to, among other reasons, narrower product lines, more limited financial resources </span><span style="color:#000000;font-family:Arial;font-size:10pt;">and fewer experienced managers.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Geographic Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> If the Fund invests a significant portion </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">of its assets in issuers located in a single country, a limited number of countries, or a particular geographic region, it assumes the risk that economic, political and social conditions in those countries or that region may have a </span><span style="color:#000000;font-family:Arial;font-size:10pt;">significant impact on its investment performance.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Currency Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Because the Fund’s foreign investments </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">are generally held in foreign currencies, the Fund could experience gains or losses based solely on changes in the exchange rate between foreign currencies and the U.S. </span><span style="color:#000000;font-family:Arial;font-size:10pt;">dollar. Such gains or losses may be substantial.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Market Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The Fund’s share price can fall because of </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">weakness in the broad market, a particular industry, or specific holdings or due to adverse social, political or economic developments here or abroad, changes in investor psychology, technological disruptions, or heavy institutional selling and other conditions or events (including, for example, military confrontations, war, terrorism, trade wars, disease/virus outbreaks and epidemics). The prices of individual securities may fluctuate, sometimes dramatically, from day to day. The prices of stocks and other equity securities tend to be </span><span style="color:#000000;font-family:Arial;font-size:10pt;">more volatile than those of fixed-income securities.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Securities Lending Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Engaging in securities lending </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">could increase the market and credit risk for Fund investments. The Fund may lose money if it does not recover borrowed securities, the value of the collateral falls, or the value of investments made with cash collateral declines. The Fund’s loans will be collateralized by securities issued or guaranteed by the U.S. Government or its agencies and instrumentalities, which subjects the Fund to the credit risk of the U.S. Government or the issuing federal agency or instrumentality. If the value of either the cash collateral or the Fund’s investments of the cash collateral falls below the amount owed to a borrower, the Fund also may incur losses that exceed the amount it earned on lending the security. Securities lending also involves the risks of delay in receiving additional collateral or possible loss of rights in the collateral if the borrower fails. Another risk of securities lending is the risk that the loaned portfolio securities may not be available to the Fund on a timely basis and the Fund may therefore lose </span><span style="color:#000000;font-family:Arial;font-size:10pt;">the opportunity to sell the securities at a desirable price.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Convertible Securities Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Convertible security values </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">may be affected by market interest rates, issuer defaults and underlying common stock values; security values may fall if market interest rates rise and rise if market </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">interest rates fall. Additionally, an issuer may have the right to buy back the securities at a time unfavorable to the </span><span style="color:#000000;font-family:Arial;font-size:10pt;">Fund.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Preferred Stock Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Unlike common stock, preferred </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">stock generally pays a fixed dividend from a company’s earnings and may have a preference over common stock on the distribution of a company’s assets in the event of bankruptcy or liquidation. Preferred stockholders’ liquidation rights are subordinate to the company’s debt holders and creditors. If interest rates rise, the fixed dividend on preferred stocks may be less attractive and the price of preferred stocks may decline. Preferred </span><span style="color:#000000;font-family:Arial;font-size:10pt;">stockholders typically do not have voting rights.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Money Market Securities Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> An investment in the </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">Fund is subject to the risk that the value of its investments in high-quality short-term obligations (“money market securities”) may be subject to changes in interest rates, changes in the rating of any money market security and in the ability of an issuer to make payments of interest and </span><span style="color:#000000;font-family:Arial;font-size:10pt;">principal.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Warrant Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> A warrant entitles the holder to purchase a </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">specified amount of securities at a pre-determined price. Warrants may not track the value of the securities the holder is entitled to purchase and may expire worthless if the market price of the securities is below the exercise </span><span style="color:#000000;font-family:Arial;font-size:10pt;">price of the warrant.</span> <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Performance Information</span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">The below bar chart and table illustrate the risks of investing in the Fund by showing changes in the Fund’s performance from calendar year to calendar year and comparing the Fund’s average annual returns to those of the MSCI EAFE Index (net) (a broad-based securities market index), which is relevant to the Fund because it has characteristics similar to the Fund’s investment strategies.</span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">Fees and expenses incurred at the contract level are not reflected in the bar chart or table. If these amounts were reflected, returns would be less than those shown. </span><span style="font-family:Arial;font-size:10pt;">Of </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">course, past performance of the Fund is not necessarily </span><span style="font-family:Arial;font-size:10pt;">an indication of how the Fund will perform in the future.</span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">BlackRock Investment Management, LLC (“BlackRock”) assumed sub‑advisory responsibilities on April 30, 2025. Prior to this time, the Fund was subadvised by </span><span style="color:#000000;font-family:Arial;font-size:10pt;">SunAmerica Asset Management, LLC. </span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">The below bar chart and table illustrate the risks of investing in the Fund by showing changes in the Fund’s performance from calendar year to calendar year and comparing the Fund’s average annual returns to those of the MSCI EAFE Index (net) (a broad-based securities market index), which is relevant to the Fund because it has characteristics similar to the Fund’s investment strategies.</span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">Fees and expenses incurred at the contract level are not reflected in the bar chart or table. If these amounts were reflected, returns would be less than those shown. </span> <span style="font-family:Arial;font-size:10pt;">Of </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">course, past performance of the Fund is not necessarily </span><span style="font-family:Arial;font-size:10pt;">an indication of how the Fund will perform in the future.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;">During the period shown in the bar chart:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Highest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">December 31, 2022</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">18.68%</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Lowest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">March 31, 2020</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">-22.35%</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Year to Date Most </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Recent Quarter:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">June 30, 2026</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">10.67%</span> <span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Highest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span> 2022-12-31 0.1868 <span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Lowest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span> 2020-03-31 -0.2235 <span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Year to Date Most </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Recent Quarter:</span> 2026-06-30 0.1067 <span style="font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Average Annual Total Returns</span><span style="font-family:Arial;font-size:10pt;"> (For the periods ended December 31, 2025)</span> 0.2732 0.0780 0.0910 0.3122 0.0892 0.0818 <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Investment Objective</span> <span style="color:#000000;font-family:Arial;font-size:10pt;">The Fund seeks long-term growth of capital.</span> <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Fees and Expenses of the Fund</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">This table describes the fees and expenses that you may pay if you buy, hold and sell shares of the Fund. </span><span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">The table </span><span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">and the example below do not reflect the separate account fees charged in the variable annuity or variable life insurance policy (“Variable Contracts”) in which the Fund is offered.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> If separate account fees were </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">shown, the Fund’s annual operating expenses would be higher. Please see your Variable Contract prospectus for </span><span style="color:#000000;font-family:Arial;font-size:10pt;">more details on the separate account fees.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;text-decoration:underline;">Annual Fund Operating Expenses</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> (expenses that you </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">pay each year as a percentage of the value of your </span><span style="color:#000000;font-family:Arial;font-size:10pt;">investment)</span> 0.0071 0.0014 0.0085 -0.0007 0.0078 <span style="font-family:Arial;font-size:8pt;">September 30, 2027</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-style:italic;font-weight:bold;text-decoration:underline;">Expense Example</span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem or hold all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same (except that the Example incorporates any applicable fee waiver and/or expense limitation arrangements for only the first year). The Example does not reflect charges imposed by the Variable Contract. If the </span><span style="font-family:Arial;font-size:10pt;">separate account fees were reflected, the </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">expenses would be higher. See the Variable Contract prospectus for information on such charges. Although your actual costs may be higher or lower, based on these </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">assumptions and the net expenses shown in the fee table, </span><span style="color:#000000;font-family:Arial;font-size:10pt;">your costs would be:</span> 80 264 465 1043 <span style="color:#000000;font-family:Arial;font-size:10pt;font-style:italic;font-weight:bold;text-decoration:underline;">Portfolio Turnover</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). These costs, which are not reflected in annual fund operating expenses or in the Example, affect the </span><span style="color:#000000;font-family:Arial;font-size:10pt;">Fund’s performance.</span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">During the most recent fiscal year, the Fund’s portfolio </span><span style="font-family:Arial;font-size:10pt;">turnover rate was </span><span style="font-family:Arial;font-size:10pt;">66%</span><span style="font-family:Arial;font-size:10pt;"> of the average value of its portfolio.</span> 0.66 <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Principal Investment Strategies of the Fund</span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">Under normal market conditions, the Fund invests at least 80% of its net assets in securities of value companies.</span><span style="font-family:Arial;font-size:10pt;">For </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">purposes of the funds 80% investment policy, a company is considered to be a value company if it; (i) issues securities that are represented in a third-party value-style index or that are classified as a value company by a third-party vendor; or (ii) meets a relevant equity market measurement in at least one “value metric” similar to those commonly used by third-party index providers or third-party vendors in value classifications, such as earnings growth, price-to-earnings or sales growth, </span><span style="font-family:Arial;font-size:10pt;">among others.</span><span style="font-family:Arial;font-size:10pt;">The Fund invests primarily in equity securities of foreign </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">issuers. The Fund will invest in securities of at least three different countries, including the United States. The Fund normally invests in common stock, preferred stock, rights, warrants and American Depository Receipts (ADRs). The Fund may purchase securities across any market capitalization. The Fund may invest in derivatives, such as forward contracts (including forward foreign currency contracts), futures (including equity futures and index futures) and options (including options on stocks and indices), for both hedging and non-hedging purposes including, for example, for investment purposes to seek to enhance returns or, in certain circumstances, when holding a derivative is deemed preferable to holding the underlying asset. In particular, the Fund may invest in forward currency contracts to hedge the currency exposure associated with some or all of the Fund’s securities, to shift investment exposure from one currency to another, to shift U.S. dollar exposure to achieve a representative weighted mix of major currencies in its benchmark, or to adjust an underweight country exposure </span><span style="font-family:Arial;font-size:10pt;">in its portfolio. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund may also invest in equity index futures to manage exposure to the securities market and to maintain </span><span style="color:#000000;font-family:Arial;font-size:10pt;">equity market exposure while managing cash flows. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund defines the term “foreign issuer” with respect to whether an issuer is economically tied to a non-U.S. country. The Fund will make this determination by looking at a number of factors, including the domicile of the issuer’s senior management, the primary stock exchange on which the issuer’s security trades, the country from which the issuer produced the largest portion of its </span><span style="color:#000000;font-family:Arial;font-size:10pt;">revenue, and its reporting currency. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund is sub-advised by both Goldman Sachs Asset Management, L.P. (“GSAM”) and Columbia Management Investment Advisers, LLC (“Columbia”). GSAM selects investments using an investment philosophy and a valuation discipline designed to identify what GSAM believes are well-positioned, cash-generating businesses run by shareholder-oriented management teams. In the portion of the Fund subadvised by GSAM, the Fund expects to invest a majority of its assets in a diversified portfolio of equity investments of dividend-paying non-U.S. issuers. A substantial portion of the assets in GSAM’s sleeve are invested in the securities of issuers located in the developed countries of Western Europe and in Australia, Japan and New Zealand. The Fund’s investments in a particular developed country may exceed </span><span style="color:#000000;font-family:Arial;font-size:10pt;">25% of its investment portfolio. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">Columbia employs fundamental analysis with risk management in identifying value opportunities and constructing the Fund’s portfolio. In selecting investments, Columbia considers, among other factors: businesses that are believed to be fundamentally sound and undervalued due to investor indifference, investor misperception of company prospects, or other factors; various measures of valuation, including price-to-cash flow, price-to-earnings, price-to-sales, and price-to-book value, with Columbia believing that companies with lower valuations are generally more likely to provide opportunities for capital appreciation; a company’s current operating margins relative to its historic range and future potential; and/or potential indicators of stock price appreciation, such as anticipated earnings growth, company restructuring, changes in management, business model changes, new product opportunities or </span><span style="color:#000000;font-family:Arial;font-size:10pt;">anticipated improvements in macroeconomic factors. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">Columbia may sell a security when the security’s price reaches a target set by Columbia; if Columbia believes that there is deterioration in the issuer’s financial circumstances or fundamental prospects; if other </span><span style="color:#000000;font-family:Arial;font-size:10pt;">investments are more attractive; or for other reasons. </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">In order to generate additional income, the Fund may lend portfolio securities to broker-dealers and other financial institutions provided that the value of the loaned securities does not exceed 30% of the Fund’s total assets. These loans earn income for the Fund and are collateralized by cash and securities issued or guaranteed by the U.S. </span><span style="font-family:Arial;font-size:10pt;">Government or its agencies or instrumentalities.</span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">Under normal market conditions, the Fund invests at least 80% of its net assets in securities of value companies.</span> <span style="font-family:Arial;font-size:10pt;">For </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">purposes of the funds 80% investment policy, a company is considered to be a value company if it; (i) issues securities that are represented in a third-party value-style index or that are classified as a value company by a third-party vendor; or (ii) meets a relevant equity market measurement in at least one “value metric” similar to those commonly used by third-party index providers or third-party vendors in value classifications, such as earnings growth, price-to-earnings or sales growth, </span><span style="font-family:Arial;font-size:10pt;">among others.</span> <span style="font-family:Arial;font-size:10pt;">For </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">purposes of the funds 80% investment policy, a company is considered to be a value company if it; (i) issues securities that are represented in a third-party value-style index or that are classified as a value company by a third-party vendor; or (ii) meets a relevant equity market measurement in at least one “value metric” similar to those commonly used by third-party index providers or third-party vendors in value classifications, such as earnings growth, price-to-earnings or sales growth, </span><span style="font-family:Arial;font-size:10pt;">among others.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;">Shares of the Fund are not bank deposits and </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">are not guaranteed or insured by any bank, government entity or the Federal Deposit Insurance Corporation.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;"> If the </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">value of the assets of the Fund goes down, you could lose </span><span style="color:#000000;font-family:Arial;font-size:10pt;">money.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Management Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The investment style or strategy used </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">by a subadviser may fail to produce the intended result. A subadviser’s assessment of a particular security or company may prove incorrect, resulting in losses or </span><span style="color:#000000;font-family:Arial;font-size:10pt;">underperformance.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Equity Securities Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The Fund invests predominantly </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">in equity securities and is therefore subject to the risk that stock prices will fall and may underperform other asset classes. Individual stock prices fluctuate from day-to-day and may decline significantly. The prices of individual stocks may be negatively affected by poor company results or other factors affecting individual prices, as well as industry and/or economic trends and developments </span><span style="color:#000000;font-family:Arial;font-size:10pt;">affecting industries or the securities market as a whole.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Derivatives Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The prices of derivatives may move in </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">unexpected ways due to the use of leverage and other factors and may result in increased volatility or losses. The Fund may not be able to terminate or sell derivative positions, and a liquid secondary market may not always </span><span style="color:#000000;font-family:Arial;font-size:10pt;">exist for derivative positions.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Large-Cap Companies Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Investing in large-cap </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">companies carries the risk that due to current market conditions these companies may be out of favor with investors. Larger, more established companies may be unable to respond quickly to new competitive challenges, such as changes in technology and consumer tastes. Larger companies also may not be able to attain the high </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">growth rate of successful smaller companies, particularly </span><span style="color:#000000;font-family:Arial;font-size:10pt;">during extended periods of economic expansion.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Mid-Cap Company Risk. </span><span style="color:#000000;font-family:Arial;font-size:10pt;">Investing in mid-cap companies </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">carries the risk that due to current market conditions these companies may be out of favor with investors. Stocks of mid-cap companies may be more volatile than those of larger companies due to, among other reasons, narrower product lines, more limited financial resources and fewer </span><span style="color:#000000;font-family:Arial;font-size:10pt;">experienced managers.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Small-Cap Company Risk. </span><span style="color:#000000;font-family:Arial;font-size:10pt;">Investing in small-cap </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">companies carries the risk that due to current market conditions these companies may be out of favor with investors. Small companies often are in the early stages of development with limited product lines, markets, or financial resources and managements lacking depth and experience, which may cause their stock prices to be more volatile than those of larger companies. Small company stocks may be less liquid yet subject to abrupt or erratic price movements. It may take a substantial period of time before the Fund realizes a gain on an investment in a </span><span style="color:#000000;font-family:Arial;font-size:10pt;">small-cap company, if it realizes any gain at all.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Hedging Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> A hedge is an investment made in order to </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">reduce the risk of adverse price movements in a currency or other investment by taking an offsetting position (often through a derivative instrument, such as an option or forward contract). While hedging strategies can be very useful and inexpensive ways of reducing risk, they are sometimes ineffective due to unexpected changes in the market. Hedging also involves the risk that changes in the value of the related security will not match those of the instruments being hedged as expected, in which case any losses on the instruments being hedged may not be </span><span style="color:#000000;font-family:Arial;font-size:10pt;">reduced.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Warrant Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> A warrant entitles the holder to purchase a </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">specified amount of securities at a pre-determined price. Warrants may not track the value of the securities the holder is entitled to purchase and may expire worthless if the market price of the securities is below the exercise </span><span style="color:#000000;font-family:Arial;font-size:10pt;">price of the warrant.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Dividend-paying Stocks Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> There is no guarantee </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">that the issuers of the stocks held by the Fund will declare dividends in the future or that, if dividends are declared, they will remain at their current levels or increase over time. Dividend-paying stocks may not participate in a broad market advance to the same degree as other stocks, and a sharp rise in interest rates or economic downturn could cause a company to unexpectedly reduce </span><span style="color:#000000;font-family:Arial;font-size:10pt;">or eliminate its dividend.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Focused Fund Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The Fund, because it may invest in </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">a limited number of companies, may have more volatility </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">in its net asset value and is considered to have more risk than a portfolio that invests in a greater number of companies because changes in the value of a single security may have a more significant effect, either negative or positive, on the Fund’s net asset value. To the extent the Fund invests its assets in fewer securities, the Fund is subject to greater risk of loss if any of those </span><span style="color:#000000;font-family:Arial;font-size:10pt;">securities decline in price.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Sector Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Companies with similar characteristics may </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">be grouped together in broad categories called sectors. Sector risk is the risk that securities of companies within specific sectors of the economy can perform differently than the overall market. This may be due to changes in such things as the regulatory or competitive environment or to changes in investor perceptions regarding a sector. Because the Fund may allocate relatively more assets to certain sectors than others, the Fund’s performance may be more susceptible to any developments which affect </span><span style="color:#000000;font-family:Arial;font-size:10pt;">those sectors emphasized by the Fund.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Foreign Investment Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Investment in foreign </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">securities involves risks due to several factors, such as illiquidity, the lack of public information, changes in the exchange rates between foreign currencies and the U.S. dollar, unfavorable political, social and legal developments, or economic and financial instability. Foreign companies are not subject to the U.S. accounting and financial reporting standards and may have riskier settlement procedures. U.S. investments that are denominated in foreign currencies or that are traded in foreign markets, or securities of U.S. companies that have significant foreign operations may be subject to foreign investment risk. The Fund may hold foreign securities and cash with foreign banks, agents, and securities depositories appointed by the Fund’s custodian (each, a “Foreign Custodian”), which involves the risk that some Foreign Custodians may be recently organized or new to the foreign custody business. In some countries, Foreign Custodians may be subject to little or no regulatory oversight over or independent evaluation of their operations. Further, the laws of certain countries may place limitations on the Fund’s ability to recover its assets </span><span style="color:#000000;font-family:Arial;font-size:10pt;">if a Foreign Custodian enters bankruptcy.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Currency Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Because the Fund’s foreign investments </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">are generally held in foreign currencies, the Fund could experience gains or losses based solely on changes in the exchange rate between foreign currencies and the U.S. </span><span style="color:#000000;font-family:Arial;font-size:10pt;">dollar. Such gains or losses may be substantial.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Depositary Receipts Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;">Depositary receipts are </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">generally subject to the same risks as the foreign securities that they evidence or into which they may be converted. Depositary receipts may or may not be jointly </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">sponsored by the underlying issuer. The issuers of unsponsored depositary receipts are not obligated to disclose information that is considered material in the United States. Therefore, there may be less information available regarding the issuers and there may not be a correlation between such information and the market value of the depositary receipts. Certain depositary receipts are not listed on an exchange and therefore may </span><span style="color:#000000;font-family:Arial;font-size:10pt;">be considered to be illiquid securities.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Geographic Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> If the Fund invests a significant portion </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">of its assets in issuers located in a single country, a limited number of countries, or a particular geographic region, it assumes the risk that economic, political and social conditions in those countries or that region may have a </span><span style="color:#000000;font-family:Arial;font-size:10pt;">significant impact on its investment performance.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Market Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The Fund’s share price can fall because of </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">weakness in the broad market, a particular industry, or specific holdings or due to adverse social, political or economic developments here or abroad, changes in investor psychology, technological disruptions, or heavy institutional selling and other conditions or events (including, for example, military confrontations, war, terrorism, trade wars, disease/virus outbreaks and epidemics). The prices of individual securities may fluctuate, sometimes dramatically, from day to day. The prices of stocks and other equity securities tend to be </span><span style="color:#000000;font-family:Arial;font-size:10pt;">more volatile than those of fixed-income securities.</span> <span style="font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Value Style Risk.</span><span style="font-family:Arial;font-size:10pt;"> Generally, “value” stocks are stocks of </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">companies that </span><span style="font-family:Arial;font-size:10pt;">are considered to be currently </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">undervalued in the marketplace. </span><span style="font-family:Arial;font-size:10pt;">The assessment that a </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">particular security is undervalued in relation to the company’s fundamental economic value may prove incorrect</span><span style="font-family:Arial;font-size:10pt;">, and the price of the company’s stock may fall or may not approach the value that has been attributed to it.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Securities Lending Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Engaging in securities lending </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">could increase the market and credit risk for Fund investments. The Fund may lose money if it does not recover borrowed securities, the value of the collateral falls, or the value of investments made with cash collateral declines. The Fund’s loans will be collateralized by securities issued or guaranteed by the U.S. Government or its agencies and instrumentalities, which subjects the Fund to the credit risk of the U.S. Government or the issuing federal agency or instrumentality. If the value of either the cash collateral or the Fund’s investments of the cash collateral falls below the amount owed to a borrower, the Fund also may incur losses that exceed the amount it earned on lending the security. Securities lending also </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">involves the risks of delay in receiving additional collateral or possible loss of rights in the collateral if the borrower fails. Another risk of securities lending is the risk that the loaned portfolio securities may not be available to the Fund on a timely basis and the Fund may therefore lose </span><span style="color:#000000;font-family:Arial;font-size:10pt;">the opportunity to sell the securities at a desirable price.</span> <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Performance Information</span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">The below bar chart and table illustrate the risks of investing in the Fund by showing changes in the Fund’s performance from calendar year to calendar year and comparing the Fund’s average annual returns to those of the MSCI ACWI ex USA Index (net) (a broad-based securities market index) and MSCI EAFE Value Index (net), which is relevant to the Fund because it has characteristics similar to the Fund’s investment strategies. </span><span style="font-family:Arial;font-size:10pt;">The Fund’s returns prior to April 29, 2024, as </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">reflected in the bar chart and table, are the returns of the Fund when it followed different investment strategies.</span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">Fees and expenses incurred at the contract level are not reflected in the bar chart or table. If these amounts were reflected, returns would be less than those shown. </span><span style="font-family:Arial;font-size:10pt;">Of </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">course, past performance of the Fund is not necessarily </span><span style="font-family:Arial;font-size:10pt;">an indication of how the Fund will perform in the future.</span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">GSAM and Columbia assumed subadvisory duties on April 29, 2024. From inception through September 9, 2018, Templeton Global Advisors Limited was subadviser to the Fund. From September 10, 2018 through April </span><span style="font-family:Arial;font-size:10pt;">28, </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">2024, Allspring Global Investments, LLC was subadviser </span><span style="font-family:Arial;font-size:10pt;">to the Fund.</span> <br/><span style="font-family:Arial;font-size:10pt;margin-left:0%;">The percentage of the Fund’s assets that each subadviser manages may, at the adviser’s discretion, change from </span><span style="font-family:Arial;font-size:10pt;">time to time. </span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">The below bar chart and table illustrate the risks of investing in the Fund by showing changes in the Fund’s performance from calendar year to calendar year and comparing the Fund’s average annual returns to those of the MSCI ACWI ex USA Index (net) (a broad-based securities market index) and MSCI EAFE Value Index (net), which is relevant to the Fund because it has characteristics similar to the Fund’s investment strategies. </span><span style="font-family:Arial;font-size:10pt;">The Fund’s returns prior to April 29, 2024, as </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">reflected in the bar chart and table, are the returns of the Fund when it followed different investment strategies.</span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">Fees and expenses incurred at the contract level are not reflected in the bar chart or table. If these amounts were reflected, returns would be less than those shown. </span> <span style="font-family:Arial;font-size:10pt;">Of </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">course, past performance of the Fund is not necessarily </span><span style="font-family:Arial;font-size:10pt;">an indication of how the Fund will perform in the future.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;">During the period shown in the bar chart:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Highest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">December 31, 2022</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">18.33%</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Lowest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">March 31, 2020</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">-29.70%</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Year to Date Most </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Recent Quarter:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">June 30, 2026</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">8.48%</span> <span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Highest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span> 2022-12-31 0.1833 <span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Lowest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span> 2020-03-31 -0.2970 <span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Year to Date Most </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Recent Quarter:</span> 2026-06-30 0.0848 <span style="font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Average Annual Total Returns</span><span style="font-family:Arial;font-size:10pt;"> (For the periods ended December 31, 2025)</span> 0.3997 0.1060 0.0810 0.3239 0.0791 0.0841 0.4225 0.1336 0.0869 <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Investment Objective</span> <span style="color:#000000;font-family:Arial;font-size:10pt;">The Fund seeks to provide long-term growth of capital.</span> <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Fees and Expenses of the Fund</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">This table describes the fees and expenses that you may pay if you buy, hold and sell shares of the Fund. </span><span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">The table </span><span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">and the example below do not reflect the separate account fees charged in the variable annuity or variable life insurance policy (“Variable Contracts”) in which the Fund is offered.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> If separate account fees were </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">shown, the Fund’s annual operating expenses would be higher. Please see your Variable Contract prospectus for </span><span style="color:#000000;font-family:Arial;font-size:10pt;">more details on the separate account fees.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;text-decoration:underline;">Annual Fund Operating Expenses</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> (expenses that you </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">pay each year as a percentage of the value of your </span><span style="color:#000000;font-family:Arial;font-size:10pt;">investment)</span> 0.0064 0.0013 0.0077 -0.0009 0.0068 <span style="font-family:Arial;font-size:8pt;">September 30, 2027</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-style:italic;font-weight:bold;text-decoration:underline;">Expense Example</span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem or hold all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same (except that the Example incorporates any applicable fee waiver and/or expense limitation arrangements for only the first year). The Example does not reflect charges imposed by the Variable Contract. If the </span><span style="font-family:Arial;font-size:10pt;">separate account fees were reflected, the </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">expenses would be higher. See the Variable Contract prospectus for information on such charges. Although your actual costs may be higher or lower, based on these assumptions and the net expenses shown in the fee table, </span><span style="font-family:Arial;font-size:10pt;">your costs would be:</span> 69 237 419 946 <span style="color:#000000;font-family:Arial;font-size:10pt;font-style:italic;font-weight:bold;text-decoration:underline;">Portfolio Turnover</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). These costs, which are not reflected in annual fund operating expenses or in the Example, affect the </span><span style="color:#000000;font-family:Arial;font-size:10pt;">Fund’s performance.</span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">During the most recent fiscal year, the Fund’s portfolio turnover rate was </span><span style="font-family:Arial;font-size:10pt;">112%</span><span style="font-family:Arial;font-size:10pt;"> of the average value of its </span><span style="font-family:Arial;font-size:10pt;">portfolio.</span> 1.12 <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Principal Investment Strategies of the Fund</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund seeks to meet its objective by investing, normally, at least 80% of its net assets in securities of large-cap companies.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> In complying with this 80% </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">investment requirement, the Fund will invest primarily in equity securities, which may include common stocks </span><span style="color:#000000;font-family:Arial;font-size:10pt;">and depositary receipts. </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">Generally, large-cap companies will include companies whose market capitalizations, at the time of purchase, are equal to or greater than the market capitalization of the smallest company in the S&amp;P 500</span><span style="font-family:Arial;font-size:6.5pt;position:relative;top:-3.25pt;">®</span><span style="font-family:Arial;font-size:10pt;"> Index (the “Index”) </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">during the most recent 12-month period.</span><span style="font-family:Arial;font-size:10pt;"> As of August 31, 2026, the median stock by market capitalization in the </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">Index was approximately $</span><span style="font-family:Arial;font-size:10pt;">44.73 billion and the largest </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">stock by market capitalization was $</span><span style="font-family:Arial;font-size:10pt;">5.35 trillion. The size </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">of the companies in the Index changes with market </span><span style="font-family:Arial;font-size:10pt;">conditions and the composition of the Index. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund may invest up to 25% of its total assets in U.S. dollar-denominated foreign securities, either directly or </span><span style="color:#000000;font-family:Arial;font-size:10pt;">through depositary receipts. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">Derivatives, which are instruments that have a value based on another instrument, exchange rate or index, may be used as substitutes for securities in which the Fund can invest. To the extent the Fund uses derivatives, the Fund will primarily use futures contracts to more effectively gain targeted equity exposure from its cash positions. A derivative instrument that provides exposure to the types of investments that are included in the Fund’s 80% policy or exposure to one or more market risk factors associated with such investments will be counted towards compliance </span><span style="color:#000000;font-family:Arial;font-size:10pt;">with the 80% policy. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund is managed by two subadvisers. Each of the Fund’s subadvisers manages a portion of the Fund’s </span><span style="color:#000000;font-family:Arial;font-size:10pt;">assets using different investment approach. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">In managing its portion of the Fund, one subadviser takes an in-depth look at company prospects, which is designed to provide insight into a company’s real growth potential. The research findings allow the subadviser to rank the companies in each sector group according to their relative value. As part of its investment process, the subadviser seeks to assess the impact of environmental, social and governance (ESG) factors on many issuers in the universe in which the Fund may invest. The subadviser’s assessment is based on an analysis of key opportunities and risks across industries to seek to identify financially material issues with respect to the Fund’s investments in securities and ascertain key issues that merit engagement with issuers. These assessments may not be conclusive and securities of issuers that may be negatively impacted by such factors may be purchased and retained by the Fund while the Fund may divest or not invest in securities of issuers that may be positively impacted by such factors. On behalf of the Fund, the subadviser then buys and sells equity securities, using the research and valuation rankings as a basis. In general, the subadviser buys equity securities that are identified as attractively valued and considers selling them when they appear to be overvalued. Along with attractive valuation, the subadviser </span><span style="color:#000000;font-family:Arial;font-size:10pt;">often considers other criteria including, but not limited to: </span><span style="color:#000000;font-family:Arial;font-size:10pt;">•</span><span style="color:#000000;font-family:Arial;font-size:10pt;">catalysts that could trigger a rise in a stock’s price </span><span style="color:#000000;font-family:Arial;font-size:10pt;">•</span><span style="color:#000000;font-family:Arial;font-size:10pt;">high potential reward compared to potential risk </span><span style="color:#000000;font-family:Arial;font-size:10pt;">•</span><span style="color:#000000;font-family:Arial;font-size:10pt;">temporary mis-pricings caused by apparent market over-reactions. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">In managing its portion of the Fund, the other subadviser seeks sector and industry-neutral exposure to the Index, with value added through stock selection. The subadviser will attempt to outperform the Index by overweighting those stocks that are viewed favorably relative to their weighing in the Index, and underweighting or avoiding those stocks that are viewed negatively. The subadviser combines fundamental research with a disciplined portfolio construction process to pursue the investment objective. A portfolio oversight team, which includes portfolio managers, is responsible for the overall structure of the strategy and for developing rules for portfolio construction employed by the subadviser. The portfolio oversight team seeks to take advantage of the subadviser’s fundamental research by assigning equity analysts to select stocks for the strategy within industries where they have focused expertise. The equity analysts are responsible for selecting stocks and determining the stocks’ weights, subject to the oversight and discretion of the portfolio managers who work closely with the analysts. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">To generate additional income, the Fund may lend portfolio securities to broker-dealers and other financial institutions provided that the value of the loaned securities does not exceed 30% of the Fund’s total assets. These </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">loans earn income for the Fund and are collateralized by cash and securities issued or guaranteed by the U.S. </span><span style="color:#000000;font-family:Arial;font-size:10pt;">Government or its agencies or instrumentalities. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund will not concentrate its assets in any single industry but may from time to time invest a higher percentage of its assets in companies conducting business in various industries within an </span><span style="color:#000000;font-family:Arial;font-size:10pt;">economic sector, including the technology sector.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund seeks to meet its objective by investing, normally, at least 80% of its net assets in securities of large-cap companies.</span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">Generally, large-cap companies will include companies whose market capitalizations, at the time of purchase, are equal to or greater than the market capitalization of the smallest company in the S&amp;P 500</span><span style="font-family:Arial;font-size:6.5pt;position:relative;top:-3.25pt;">®</span><span style="font-family:Arial;font-size:10pt;"> Index (the “Index”) </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">during the most recent 12-month period.</span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">Generally, large-cap companies will include companies whose market capitalizations, at the time of purchase, are equal to or greater than the market capitalization of the smallest company in the S&amp;P 500</span><span style="font-family:Arial;font-size:6.5pt;position:relative;top:-3.25pt;">®</span><span style="font-family:Arial;font-size:10pt;"> Index (the “Index”) </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">during the most recent 12-month period.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;">Shares of the Fund are not bank deposits and </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">are not guaranteed or insured by any bank, government entity or the Federal Deposit Insurance Corporation.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;"> If the </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">value of the assets of the Fund goes down, you could lose </span><span style="color:#000000;font-family:Arial;font-size:10pt;">money.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Equity Securities Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The Fund invests primarily in </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">equity securities and is therefore subject to the risk that stock prices will fall and may underperform other asset classes. Individual stock prices fluctuate from day-to-day and may decline significantly. The prices of individual stocks may be negatively affected by poor company results or other factors affecting individual prices, as well as industry and/or economic trends and developments </span><span style="color:#000000;font-family:Arial;font-size:10pt;">affecting industries or the securities market as a whole.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Large-Cap Companies Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Investing primarily in large-cap</span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;"> companies carries the risk that due to current market conditions these companies may be unable to respond quickly to new competitive challenges or attain the high growth rate of successful smaller companies. Larger, more established companies may be unable to respond quickly to new competitive challenges, such as changes in technology and consumer tastes. Larger companies also may not be able to attain the high growth rate of successful smaller companies, particularly during </span><span style="color:#000000;font-family:Arial;font-size:10pt;">extended periods of economic expansion.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Management Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The investment style or strategy used </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">by a subadviser may fail to produce the intended result. A subadviser’s assessment of a particular security or company may prove incorrect, resulting in losses or </span><span style="color:#000000;font-family:Arial;font-size:10pt;">underperformance.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Dividend-paying Stocks Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> There is no guarantee </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">that the issuers of the stocks held by the Fund will declare dividends in the future or that, if dividends are declared, they will remain at their current levels or increase over </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">time. Dividend-paying stocks may not participate in a broad market advance to the same degree as other stocks, and a sharp rise in interest rates or economic downturn could cause a company to unexpectedly reduce </span><span style="color:#000000;font-family:Arial;font-size:10pt;">or eliminate its dividend.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Depositary Receipts Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Depositary receipts are </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">generally subject to the same risks as the foreign securities that they evidence or into which they may be converted. The issuers of unsponsored depositary receipts are not obligated to disclose information that is considered material in the United States. Therefore, there may be less information available regarding the issuers and there may not be a correlation between such information and the market value of the depositary receipts. Certain depositary receipts are not listed on an </span><span style="color:#000000;font-family:Arial;font-size:10pt;">exchange and therefore are subject to illiquidity risk.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Derivatives Risk. </span><span style="color:#000000;font-family:Arial;font-size:10pt;">The prices of derivatives may move in </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">unexpected ways due to the use of leverage and other factors and may result in increased volatility or losses. The Fund may not be able to terminate or sell derivative positions, and a liquid secondary market may not always </span><span style="color:#000000;font-family:Arial;font-size:10pt;">exist for derivative positions.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Futures Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> A futures contract is considered a </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">derivative because it derives its value from the price of the underlying currency, security or financial index. The prices of futures contracts can be volatile and futures contracts may lack liquidity. In addition, there may be imperfect or even negative correlation between the price of a futures contract and the price of the underlying currency, security </span><span style="color:#000000;font-family:Arial;font-size:10pt;">or financial index.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">ESG Investment Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The portfolio manager(s) may </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">utilize ESG criteria, integrate ESG considerations and/or use related analyses to select investments for the Fund. These strategies may impact the Fund’s performance, including relative to similar funds that do not adhere to such ESG criteria, ESG integration and/or related analyses as part of the investment process. Additionally, the Fund’s adherence to these strategies in connection with identifying and selecting investments may require subjective and qualitative analysis and may be more difficult if data about a particular company or market is limited, such as with respect to issuers in emerging markets countries. The Fund may invest in companies that do not reflect the beliefs and values of any particular investor. Socially responsible norms differ by country and region, and a company’s ESG practices or a portfolio manager’s assessment of such may change over time. ESG characteristics may not be the only factors considered in selecting investments and as a result, the Fund’s investments may not have favorable ESG </span><span style="color:#000000;font-family:Arial;font-size:10pt;">characteristics or high ESG ratings.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Foreign Investment Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Investment in foreign </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">securities involves risks due to several factors, such as illiquidity, the lack of public information, changes in the exchange rates between foreign currencies and the U.S. dollar, unfavorable political, social and legal developments, or economic and financial instability. Foreign companies are not subject to the U.S. accounting and financial reporting standards and may have riskier settlement procedures. U.S. investments that are denominated in foreign currencies or that are traded in foreign markets, or securities of U.S. companies that have significant foreign operations may be subject to foreign </span><span style="color:#000000;font-family:Arial;font-size:10pt;">investment risk.</span> <span style="font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Growth Style Risk.</span><span style="font-family:Arial;font-size:10pt;"> Generally, “growth” stocks are stocks </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">of companies that </span><span style="font-family:Arial;font-size:10pt;">have anticipated earnings ranging from </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">steady to accelerated growth. Many investors buy growth stocks because of anticipated superior earnings growth, but earnings disappointments often result in sharp price declines. Growth companies usually invest a high portion of earnings in their own businesses so their stocks may lack the dividends that can cushion share prices in a down market. In addition, the value of growth stocks may be more sensitive to changes in current or expected earnings than the value of other stocks, because growth stocks </span><span style="font-family:Arial;font-size:10pt;">trade at higher prices relative to current earnings.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Market Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The Fund’s share price can fall because of </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">weakness in the broad market, a particular industry, or specific holdings or due to adverse social, political or economic developments here or abroad, changes in investor psychology, technological disruptions, or heavy institutional selling and other conditions or events (including, for example, military confrontations, war, terrorism, trade wars, disease/virus, outbreaks and epidemics). The prices of individual securities may fluctuate, sometimes dramatically, from day to day. The prices of stocks and other equity securities tend to be </span><span style="color:#000000;font-family:Arial;font-size:10pt;">more volatile than those of fixed-income securities.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Sector Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Companies with similar characteristics may </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">be grouped together in broad categories called sectors. Sector risk is the risk that securities of companies within specific sectors of the economy can perform differently than the overall market. This may be due to changes in such things as the regulatory or competitive environment or to changes in investor perceptions regarding a sector. Because the Fund may allocate relatively more assets to certain sectors than others, the Fund’s performance may be more susceptible to any developments which affect </span><span style="color:#000000;font-family:Arial;font-size:10pt;">those sectors emphasized by the Fund.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Technology Sector Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Technology stocks historically </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">have experienced unusually wide price swings. Earnings disappointments and intense competition for market share </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">can result in sharp declines in the prices of technology </span><span style="color:#000000;font-family:Arial;font-size:10pt;">stocks.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Securities Lending Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Engaging in securities lending </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">could increase the market and credit risk for Fund investments. The Fund may lose money if it does not recover borrowed securities, the value of the collateral falls, or the value of investments made with cash collateral declines. The Fund’s loans will be collateralized by securities issued or guaranteed by the U.S. Government or its agencies and instrumentalities, which subjects the Fund to the credit risk of the U.S. Government or the issuing federal agency or instrumentality. If the value of either the cash collateral or the Fund’s investments of the cash collateral falls below the amount owed to a borrower, the Fund also may incur losses that exceed the amount it earned on lending the security. Securities lending also involves the risks of delay in receiving additional collateral or possible loss of rights in the collateral if the borrower fails. Another risk of securities lending is the risk that the loaned portfolio securities may not be available to the Fund on a timely basis and the Fund may therefore lose </span><span style="color:#000000;font-family:Arial;font-size:10pt;">the opportunity to sell the securities at a desirable price.</span> <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Performance Information</span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">The below bar chart and table illustrate the risks of investing in the Fund by showing changes in the Fund’s performance from calendar year to calendar year and comparing the Fund’s average annual returns to those of the S&amp;P 500® Index (a broad-based securities market index) and the Russell 1000® Growth Index. </span><span style="font-family:Arial;font-size:10pt;">The Fund’s </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">returns prior to September 29, 2025, as reflected in the bar chart and table, are the returns of the Fund when it followed different investment strategies. under the name “Large Capital Growth Fund.”</span><span style="font-family:Arial;font-size:10pt;"> Fees and expenses incurred </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">at the contract level are not reflected in the bar chart or table. If these amounts were reflected, returns would be less than those shown. </span><span style="font-family:Arial;font-size:10pt;">Of course, past performance of </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">the Fund is not necessarily an indication of how the Fund </span><span style="font-family:Arial;font-size:10pt;">will perform in the future.</span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">T. Rowe Price Associates, Inc. (“T. Rowe Price”) and J.P. Morgan Investment Management Inc. (“JPMIM”) assumed subadvisory duties on September 29, 2025. From </span><span style="font-family:Arial;font-size:10pt;">September 16, 2013, through September</span><span style="font-family:Arial;font-size:10pt;line-height:12pt;"> </span><span style="font-family:Arial;font-size:10pt;">28, 2025, Massachusetts</span><span style="font-family:Arial;font-size:10pt;line-height:12pt;"> </span><span style="font-family:Arial;font-size:10pt;">Financial Services Company was subadviser to the Fund.</span> <br/><span style="font-family:Arial;font-size:10pt;">The percentage of the Fund’s assets that each subadviser </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">manages may</span><span style="font-family:Arial;font-size:10pt;">, at</span><span style="font-family:Arial;font-size:10pt;line-height:12pt;"> </span><span style="font-family:Arial;font-size:10pt;">the adviser’s discretion, change</span><span style="font-family:Arial;font-size:10pt;line-height:12pt;"> </span><span style="font-family:Arial;font-size:10pt;">from time to time. </span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">The below bar chart and table illustrate the risks of investing in the Fund by showing changes in the Fund’s performance from calendar year to calendar year and comparing the Fund’s average annual returns to those of the S&amp;P 500® Index (a broad-based securities market index) and the Russell 1000® Growth Index. </span><span style="font-family:Arial;font-size:10pt;">The Fund’s </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">returns prior to September 29, 2025, as reflected in the bar chart and table, are the returns of the Fund when it followed different investment strategies. under the name “Large Capital Growth Fund.”</span> <span style="font-family:Arial;font-size:10pt;"> Fees and expenses incurred </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">at the contract level are not reflected in the bar chart or table. If these amounts were reflected, returns would be less than those shown. </span> <span style="font-family:Arial;font-size:10pt;">Of course, past performance of </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">the Fund is not necessarily an indication of how the Fund </span><span style="font-family:Arial;font-size:10pt;">will perform in the future.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;">During the period shown in the bar chart:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Highest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">June 30, 2020</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">20.77%</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Lowest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">March 31, 2020</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">-17.87%</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Year to Date Most </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Recent Quarter:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">June 30, 2026</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">7.63%</span> <span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Highest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span> 2020-06-30 0.2077 <span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Lowest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span> 2020-03-31 -0.1787 <span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Year to Date Most </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Recent Quarter:</span> 2026-06-30 0.0763 <span style="font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Average Annual Total Returns</span><span style="font-family:Arial;font-size:10pt;"> (For the periods ended December 31, 2025)</span> 0.0981 0.1002 0.1427 0.1788 0.1442 0.1482 0.1856 0.1532 0.1813 <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Investment Objective</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund seeks to provide growth of capital through investments primarily in a diversified portfolio of common stocks that, as a group, are expected to provide investment results closely corresponding to the </span><span style="color:#000000;font-family:Arial;font-size:10pt;">performance of the S&amp;P MidCap 400</span><span style="color:#000000;font-family:Arial;font-size:6.5pt;position:relative;top:-3.25pt;">®</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Index (the “Index”).</span> <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Fees and Expenses of the Fund</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">This table describes the fees and expenses that you may pay if you buy, hold and sell shares of the Fund. </span><span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">The table </span><span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">and the example below do not reflect the separate account fees charged in the variable annuity or variable life insurance policy (“Variable Contracts”) in which the Fund is offered.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> If separate account fees were </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">shown, the Fund’s annual operating expenses would be higher. Please see your Variable Contract prospectus for </span><span style="color:#000000;font-family:Arial;font-size:10pt;">more details on the separate account fees.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;text-decoration:underline;">Annual Fund Operating Expenses</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> (expenses that you </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">pay each year as a percentage of the value of your </span><span style="color:#000000;font-family:Arial;font-size:10pt;">investment)</span> 0.0027 0.0010 0.0037 -0.0001 0.0036 <span style="font-family:Arial;font-size:8pt;">September 30, 2027</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-style:italic;font-weight:bold;text-decoration:underline;">Expense Example</span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem or hold all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same (except that the Example incorporates any applicable fee waiver and/or expense limitation arrangements for only the first year). The Example does not reflect charges imposed by the Variable Contract. If the </span><span style="font-family:Arial;font-size:10pt;">separate account fees were reflected, the </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">expenses would be higher. See the Variable Contract prospectus for information on such charges. Although </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">your actual costs may be higher or lower, based on these assumptions and the net expenses shown in the fee table, </span><span style="color:#000000;font-family:Arial;font-size:10pt;">your costs would be:</span> 37 118 207 467 <span style="color:#000000;font-family:Arial;font-size:10pt;font-style:italic;font-weight:bold;text-decoration:underline;">Portfolio Turnover</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). These costs, which are not reflected in annual fund operating expenses or in the Example, affect the </span><span style="color:#000000;font-family:Arial;font-size:10pt;">Fund’s performance.</span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">During the most recent fiscal year, the Fund’s portfolio </span><span style="font-family:Arial;font-size:10pt;">turnover rate was </span><span style="font-family:Arial;font-size:10pt;">17%</span><span style="font-family:Arial;font-size:10pt;"> of the average value of its portfolio.</span> 0.17 <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Principal Investment Strategies of the Fund</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund is managed to seek to track the performance of the Index, which measures the performance of the mid-capitalization sector of the U.S. equity market.</span><span style="color:#000000;font-family:Arial;font-size:10pt;">The </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">Subadviser may endeavor to track the Index by purchasing every stock included in the Index, in the same proportions; or, in the alternative, the Subadviser may invest in a sampling of Index stocks by utilizing a statistical technique known as “optimization.” The goal of optimization is to select stocks which ensure that various industry weightings, market capitalizations, and fundamental characteristics, (</span><span style="color:#000000;font-family:Arial;font-size:10pt;font-style:italic;">e.g.</span><span style="color:#000000;font-family:Arial;font-size:10pt;">, price-to-book, price-to-earnings,</span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;"> debt-to-asset ratios and dividend yields) closely </span><span style="color:#000000;font-family:Arial;font-size:10pt;">approximate those of the Index.</span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">Under normal circumstances, at least 80% of the Fund’s net assets are invested in stocks that are in the Index.</span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">Although the Fund seeks to track the performance of the Index, the performance of the Fund will not match that of the Index exactly because, among other reasons, the Fund incurs operating expenses and other investment overhead as part of its normal operations. The subadviser may use derivatives to seek to track the performance of </span><span style="color:#000000;font-family:Arial;font-size:10pt;">the Index, including futures and total return swaps. </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">In order to generate additional income, the Fund may lend portfolio securities to broker-dealers and other financial institutions provided that the value of the loaned securities does not exceed 30% of the Fund’s total assets. These loans earn income for the Fund and are collateralized by cash and securities issued or guaranteed by the U.S. </span><span style="font-family:Arial;font-size:10pt;">Government or its agencies or instrumentalities.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund is managed to seek to track the performance of the Index, which measures the performance of the mid-capitalization sector of the U.S. equity market.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;">The </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">Subadviser may endeavor to track the Index by purchasing every stock included in the Index, in the same proportions; or, in the alternative, the Subadviser may invest in a sampling of Index stocks by utilizing a statistical technique known as “optimization.” The goal of optimization is to select stocks which ensure that various industry weightings, market capitalizations, and fundamental characteristics, (</span><span style="color:#000000;font-family:Arial;font-size:10pt;font-style:italic;">e.g.</span><span style="color:#000000;font-family:Arial;font-size:10pt;">, price-to-book, price-to-earnings,</span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;"> debt-to-asset ratios and dividend yields) closely </span><span style="color:#000000;font-family:Arial;font-size:10pt;">approximate those of the Index.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">Under normal circumstances, at least 80% of the Fund’s net assets are invested in stocks that are in the Index.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;">Shares of the Fund are not bank deposits and </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">are not guaranteed or insured by any bank, government entity or the Federal Deposit Insurance Corporation.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;"> If the </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">value of the assets of the Fund goes down, you could lose </span><span style="color:#000000;font-family:Arial;font-size:10pt;">money.</span> <span style="font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Equity Securities Risk.</span><span style="font-family:Arial;font-size:10pt;"> The Fund invests principally in </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">equity securities and is therefore subject to the risk that stock prices will fall and may underperform other asset classes. Individual stock prices fluctuate from day-to-day and may decline significantly. The prices of individual stocks may be negatively affected by poor company results or other factors affecting individual prices, as well as industry and/or economic trends and developments </span><span style="font-family:Arial;font-size:10pt;">affecting industries or the securities market as a whole.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Index Risk. </span><span style="color:#000000;font-family:Arial;font-size:10pt;">In attempting to track the performance of the </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">index, the Fund may be more susceptible to adverse developments concerning a particular security, company or industry because the Fund generally will not use any </span><span style="color:#000000;font-family:Arial;font-size:10pt;">defensive strategies to mitigate its risk exposure.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Failure to Match Index Performance Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The ability of </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">the Fund to match the performance of the Index may be affected by, among other things, changes in securities markets, the manner in which performance of the Index is calculated, changes in the composition of the Index, the amount and timing of cash flows into and out of the Fund, commissions, portfolio expenses, and any differences in the pricing of securities by the Fund and the Index. When the Fund employs an “optimization” strategy, the Fund is subject to an increased risk of tracking error, in that the securities selected in the aggregate for the Fund may </span><span style="color:#000000;font-family:Arial;font-size:10pt;">perform differently than the Index.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Market Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The Fund’s share price can fall because of </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">weakness in the broad market, a particular industry, or specific holdings or due to adverse social, political or economic developments here or abroad, changes in investor psychology, technological disruptions, or heavy institutional selling and other conditions or events (including, for example, military confrontations, war, terrorism, trade wars, disease/virus outbreaks and epidemics). The prices of individual securities may fluctuate, sometimes dramatically, from day to day. The prices of stocks and other equity securities tend to be </span><span style="color:#000000;font-family:Arial;font-size:10pt;">more volatile than those of fixed-income securities.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Mid-Cap Company Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Investing in mid-cap companies </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">carries the risk that due to current market conditions these companies may be out of favor with investors. Stocks of </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">mid-cap companies may be more volatile than those of larger companies due to, among other reasons, narrower product lines, more limited financial resources and fewer </span><span style="color:#000000;font-family:Arial;font-size:10pt;">experienced managers.</span> <span style="font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Derivatives Risk. </span><span style="font-family:Arial;font-size:10pt;">The prices of derivatives may move in </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">unexpected ways due to the use of leverage and other factors and may result in increased volatility or losses. The Fund may not be able to terminate or sell derivative positions, and a liquid secondary market may not always </span><span style="font-family:Arial;font-size:10pt;">exist for derivative positions.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Securities Lending Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Engaging in securities lending </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">could increase the market and credit risk for Fund investments. The Fund may lose money if it does not recover borrowed securities, the value of the collateral falls, or the value of investments made with cash collateral declines. The Fund’s loans will be collateralized by securities issued or guaranteed by the U.S. Government or its agencies and instrumentalities, which subjects the Fund to the credit risk of the U.S. Government or the issuing federal agency or instrumentality. If the value of either the cash collateral or the Fund’s investments of the cash collateral falls below the amount owed to a borrower, the Fund also may incur losses that exceed the amount it earned on lending the security. Securities lending also involves the risks of delay in receiving additional collateral or possible loss of rights in the collateral if the borrower fails. Another risk of securities lending is the risk that the loaned portfolio securities may not be available to the Fund on a timely basis and the Fund may therefore lose </span><span style="color:#000000;font-family:Arial;font-size:10pt;">the opportunity to sell the securities at a desirable price.</span> <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Performance Information</span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">The below bar chart and table illustrate the risks of investing in the Fund by showing changes in the Fund’s performance from calendar year to calendar year and comparing the Fund’s average annual returns to those of the Russell 3000</span><span style="font-family:Arial;font-size:6.5pt;position:relative;top:-3.25pt;">®</span><span style="font-family:Arial;font-size:10pt;"> Index (a broad-based securities market </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">index) and the S&amp;P MidCap 400</span><span style="font-family:Arial;font-size:6.5pt;position:relative;top:-3.25pt;">®</span><span style="font-family:Arial;font-size:10pt;"> Index, which is relevant </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">to the Fund because it has characteristics similar to the Fund’s investment strategies.</span><span style="font-family:Arial;font-size:10pt;"> Fees and expenses </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">incurred at the contract level are not reflected in the bar chart or table. If these amounts were reflected, returns would be less than those shown. </span><span style="font-family:Arial;font-size:10pt;">Of course, past </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">performance of the Fund is not necessarily an indication </span><span style="font-family:Arial;font-size:10pt;">of how the Fund will perform in the future.</span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">BlackRock Investment Management, LLC (“BlackRock”) assumed sub-advisory responsibilities on April 30, 2025. Prior to this time, the Fund was subadvised by </span><span style="color:#000000;font-family:Arial;font-size:10pt;">SunAmerica Asset Management, LLC. </span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">The below bar chart and table illustrate the risks of investing in the Fund by showing changes in the Fund’s performance from calendar year to calendar year and comparing the Fund’s average annual returns to those of the Russell 3000</span><span style="font-family:Arial;font-size:6.5pt;position:relative;top:-3.25pt;">®</span><span style="font-family:Arial;font-size:10pt;"> Index (a broad-based securities market </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">index) and the S&amp;P MidCap 400</span><span style="font-family:Arial;font-size:6.5pt;position:relative;top:-3.25pt;">®</span><span style="font-family:Arial;font-size:10pt;"> Index, which is relevant </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">to the Fund because it has characteristics similar to the Fund’s investment strategies.</span> <span style="font-family:Arial;font-size:10pt;"> Fees and expenses </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">incurred at the contract level are not reflected in the bar chart or table. If these amounts were reflected, returns would be less than those shown. </span> <span style="font-family:Arial;font-size:10pt;">Of course, past </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">performance of the Fund is not necessarily an indication </span><span style="font-family:Arial;font-size:10pt;">of how the Fund will perform in the future.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;">During the period shown in the bar chart:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Highest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">December 31, 2020</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">24.33%</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Lowest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">March 31, 2020</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">-29.76%</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Year to Date Most </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Recent Quarter:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">June 30, 2026</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">17.20%</span> <span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Highest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span> 2020-12-31 0.2433 <span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Lowest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span> 2020-03-31 -0.2976 <span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Year to Date Most </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Recent Quarter:</span> 2026-06-30 0.1720 <span style="font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Average Annual Total Returns</span><span style="font-family:Arial;font-size:10pt;"> (For the periods ended December 31, 2025)</span> 0.0695 0.0868 0.1034 0.1715 0.1315 0.1429 0.0750 0.0912 0.1072 <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Investment Objective</span> <span style="color:#000000;font-family:Arial;font-size:10pt;">The Fund seeks long-term capital growth.</span> <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Fees and Expenses of the Fund</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">This table describes the fees and expenses that you may pay if you buy, hold and sell shares of the Fund. </span><span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">The table </span><span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">and the example below do not reflect the separate account fees charged in the variable annuity or variable life insurance policy (“Variable Contracts”) in which the Fund is offered.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> If separate account fees were </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">shown, the Fund’s annual operating expenses would be higher. Please see your Variable Contract prospectus for </span><span style="color:#000000;font-family:Arial;font-size:10pt;">more details on the separate account fees.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;text-decoration:underline;">Annual Fund Operating Expenses</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> (expenses that you </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">pay each year as a percentage of the value of your </span><span style="color:#000000;font-family:Arial;font-size:10pt;">investment)</span> 0.0063 0.0010 0.0073 <span style="color:#000000;font-family:Arial;font-size:10pt;font-style:italic;font-weight:bold;text-decoration:underline;">Expense Example</span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem or hold all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same (except that the Example incorporates any applicable fee waiver and/or expense limitation arrangements for only the first year). The Example does not reflect charges imposed by the Variable Contract. If the </span><span style="font-family:Arial;font-size:10pt;">separate account fees were reflected, the </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">expenses would be higher. See the Variable Contract prospectus for information on such charges. Although your actual costs may be higher or lower, based on these assumptions and the net expenses shown in the fee table, </span><span style="font-family:Arial;font-size:10pt;">your costs would be:</span> 75 233 406 906 <span style="color:#000000;font-family:Arial;font-size:10pt;font-style:italic;font-weight:bold;text-decoration:underline;">Portfolio Turnover</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). These costs, which are not reflected in annual fund operating expenses or in the Example, affect the </span><span style="color:#000000;font-family:Arial;font-size:10pt;">Fund’s performance.</span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">During the most recent fiscal year, the Fund’s portfolio </span><span style="font-family:Arial;font-size:10pt;">turnover rate was </span><span style="font-family:Arial;font-size:10pt;">58%</span><span style="font-family:Arial;font-size:10pt;"> of the average value of its portfolio.</span> 0.58 <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Principal Investment Strategies of the Fund</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Subadvisers seek long-term capital growth by investing primarily in growth-oriented equity securities of </span><span style="color:#000000;font-family:Arial;font-size:10pt;">domestic and foreign mid-cap companies. </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">Under normal circumstances, at least 80% of the Fund’s net assets will be invested in </span><span style="font-family:Arial;font-size:10pt;">securities of mid-cap growth </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">companies.</span><span style="font-family:Arial;font-size:10pt;">For purposes of the Fund’s 80% investment </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">policy, a company is considered to be a growth company if it:</span><span style="font-family:Arial;font-size:10pt;line-height:12pt;"> </span><span style="font-family:Arial;font-size:10pt;">(i) issues securities that are represented in a third-party</span><span style="font-family:Arial;font-size:10pt;margin-left:0%;"> growth-style index or that are classified as a growth company by a third-party vendor; or (ii)</span><span style="font-family:Arial;font-size:10pt;"> meets a relevant </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">equity market measurement in at least one “growth metric” similar to those commonly used by third-party index providers or third-party vendors in growth classifications, such as earnings growth, price-to-earnings or sales growth, among others.</span><span style="font-family:Arial;font-size:10pt;"> Generally, mid-cap companies will </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">include companies whose market capitalizations, at the time of purchase, range from the market capitalization of the smallest company included in the Russell Midcap</span><span style="font-family:Arial;font-size:6.5pt;position:relative;top:-3.25pt;">® </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">Growth Index to the market capitalization of the largest company in the Russell Midcap</span><span style="font-family:Arial;font-size:6.5pt;position:relative;top:-3.25pt;">®</span><span style="font-family:Arial;font-size:10pt;"> Growth Index during the </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">most recent 12-month period.</span><span style="font-family:Arial;font-size:10pt;"> As of August 31, 2026 , the </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">median stock by market capitalization in the Index was approximately $</span><span style="font-family:Arial;font-size:10pt;">2.321 billion, and the largest stock was </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">approximately $</span><span style="font-family:Arial;font-size:10pt;">114.575 billion. The size of the </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">companies in the Index changes with market conditions </span><span style="font-family:Arial;font-size:10pt;">and the composition of the Index. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund may invest up to 25% of its net assets in securities of foreign issuers, which may include emerging market securities. The securities in which the Fund may invest may be denominated in U.S. dollars or in currencies other than U.S. dollars. The Fund may also invest in </span><span style="color:#000000;font-family:Arial;font-size:10pt;">private placements. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">As part of its investment process, portfolio management considers environmental, social, and governance (“ESG”) risks and opportunities (“ESG Factors”) that it believes are financially material, alongside other fundamental investment factors. Examples of potential financially material ESG Factors include: corporate governance, company culture, exposure to climate change, and human capital management. To assess ESG Factors, portfolio management uses issuer reports, third-party data, and internally-generated analyses and may engage directly with issuers. ESG Factors are one of many considerations in the investment decision-making process, may not be determinative in deciding to include or exclude an investment from the portfolio, and may not be considered </span><span style="color:#000000;font-family:Arial;font-size:10pt;">for every investment decision. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">In order to generate additional income, the Fund may lend portfolio securities to broker-dealers and other financial </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">institutions provided that the value of the loaned securities does not exceed 30% of the Fund’s total assets. These loans earn income for the Fund and are collateralized by cash and securities issued or guaranteed by the U.S. </span><span style="font-family:Arial;font-size:10pt;">Government or its agencies or instrumentalities.</span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">Under normal circumstances, at least 80% of the Fund’s net assets will be invested in </span><span style="font-family:Arial;font-size:10pt;">securities of mid-cap growth </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">companies.</span> <span style="font-family:Arial;font-size:10pt;">For purposes of the Fund’s 80% investment </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">policy, a company is considered to be a growth company if it:</span><span style="font-family:Arial;font-size:10pt;line-height:12pt;"> </span><span style="font-family:Arial;font-size:10pt;">(i) issues securities that are represented in a third-party</span><span style="font-family:Arial;font-size:10pt;margin-left:0%;"> growth-style index or that are classified as a growth company by a third-party vendor; or (ii)</span><span style="font-family:Arial;font-size:10pt;"> meets a relevant </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">equity market measurement in at least one “growth metric” similar to those commonly used by third-party index providers or third-party vendors in growth classifications, such as earnings growth, price-to-earnings or sales growth, among others.</span><span style="font-family:Arial;font-size:10pt;"> Generally, mid-cap companies will </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">include companies whose market capitalizations, at the time of purchase, range from the market capitalization of the smallest company included in the Russell Midcap</span><span style="font-family:Arial;font-size:6.5pt;position:relative;top:-3.25pt;">® </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">Growth Index to the market capitalization of the largest company in the Russell Midcap</span><span style="font-family:Arial;font-size:6.5pt;position:relative;top:-3.25pt;">®</span><span style="font-family:Arial;font-size:10pt;"> Growth Index during the </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">most recent 12-month period.</span> <span style="font-family:Arial;font-size:10pt;">For purposes of the Fund’s 80% investment </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">policy, a company is considered to be a growth company if it:</span><span style="font-family:Arial;font-size:10pt;line-height:12pt;"> </span><span style="font-family:Arial;font-size:10pt;">(i) issues securities that are represented in a third-party</span><span style="font-family:Arial;font-size:10pt;margin-left:0%;"> growth-style index or that are classified as a growth company by a third-party vendor; or (ii)</span><span style="font-family:Arial;font-size:10pt;"> meets a relevant </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">equity market measurement in at least one “growth metric” similar to those commonly used by third-party index providers or third-party vendors in growth classifications, such as earnings growth, price-to-earnings or sales growth, among others.</span><span style="font-family:Arial;font-size:10pt;"> Generally, mid-cap companies will </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">include companies whose market capitalizations, at the time of purchase, range from the market capitalization of the smallest company included in the Russell Midcap</span><span style="font-family:Arial;font-size:6.5pt;position:relative;top:-3.25pt;">® </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">Growth Index to the market capitalization of the largest company in the Russell Midcap</span><span style="font-family:Arial;font-size:6.5pt;position:relative;top:-3.25pt;">®</span><span style="font-family:Arial;font-size:10pt;"> Growth Index during the </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">most recent 12-month period.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;">Shares of the Fund are not bank deposits and </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">are not guaranteed or insured by any bank, government entity or the Federal Deposit Insurance Corporation.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;"> If the </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">value of the assets of the Fund goes down, you could lose </span><span style="color:#000000;font-family:Arial;font-size:10pt;">money.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Management Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The investment style or strategy used </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">by a subadviser may fail to produce the intended result. A subadviser’s assessment of a particular security or company may prove incorrect, resulting in losses or </span><span style="color:#000000;font-family:Arial;font-size:10pt;">underperformance.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Currency Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Because the Fund’s foreign investments </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">are generally held in foreign currencies, the Fund could experience gains or losses based solely on changes in the exchange rate between foreign currencies and the U.S. </span><span style="color:#000000;font-family:Arial;font-size:10pt;">dollar. Such gains or losses may be substantial.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Equity Securities Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The Fund invests primarily in </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">equity securities and is therefore subject to the risk that stock prices will fall and may underperform other asset classes. Individual stock prices fluctuate from day-to-day and may decline significantly. The prices of individual stocks may be negatively affected by poor company results or other factors affecting individual prices, as well as industry and/or economic trends and developments </span><span style="color:#000000;font-family:Arial;font-size:10pt;">affecting industries or the securities market as a whole.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">ESG Investment Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The Fund’s adherence to its ESG </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">criteria and application of related analyses when selecting investments may impact the Fund’s performance, including relative to similar funds that do not adhere to such criteria or apply such analyses. Additionally, the Fund’s adherence to its ESG criteria and application of related analyses in connection with identifying and selecting investments may require subjective analysis and may be more difficult if data about a particular company or market is limited, such as with respect to issuers in emerging markets countries. The Fund may invest in companies that do not reflect the beliefs and values of any particular investor. Socially responsible norms differ by country and region, and a company’s ESG practices or the </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">subadviser’s assessment of such may change over time. ESG characteristics may not be the only factors considered in selecting investments and as a result, the Fund’s investments may not have favorable ESG </span><span style="color:#000000;font-family:Arial;font-size:10pt;">characteristics or high ESG ratings.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Foreign Investment Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Investment in foreign </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">securities involves risks due to several factors, such as illiquidity, the lack of public information, changes in the exchange rates between foreign currencies and the U.S. dollar, unfavorable political, social and legal developments, or economic and financial instability. Foreign companies are not subject to the U.S. accounting and financial reporting standards and may have riskier settlement procedures. U.S. investments that are denominated in foreign currencies or that are traded in foreign markets, or securities of U.S. companies that have significant foreign operations may be subject to foreign </span><span style="color:#000000;font-family:Arial;font-size:10pt;">investment risk.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Emerging Markets Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> In addition to the risks </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">associated with investments in foreign securities, emerging market securities are subject to additional risks, which cause these securities generally to be more volatile </span><span style="color:#000000;font-family:Arial;font-size:10pt;">than securities of issuers located in developed countries.</span> <span style="font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Growth Style Risk.</span><span style="font-family:Arial;font-size:10pt;"> Generally, “growth” stocks are stocks </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">of companies that </span><span style="font-family:Arial;font-size:10pt;">have anticipated earnings ranging from </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">steady to accelerated growth. Many investors buy growth stocks because of anticipated superior earnings growth, but earnings disappointments often result in sharp price declines. Growth companies usually invest a high portion of earnings in their own businesses so their stocks may lack the dividends that can cushion share prices in a down market. In addition, the value of growth stocks may be more sensitive to changes in current or expected earnings than the value of other stocks, because growth stocks </span><span style="font-family:Arial;font-size:10pt;">trade at higher prices relative to current earnings.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Market Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The Fund’s share price can fall because of </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">weakness in the broad market, a particular industry, or specific holdings or due to adverse social, political or economic developments here or abroad, changes in investor psychology, technological disruptions, or heavy institutional selling and other conditions or events (including, for example, military confrontations, war, terrorism, trade wars, disease/virus outbreaks and epidemics). The prices of individual securities may fluctuate, sometimes dramatically, from day to day. The prices of stocks and other equity securities tend to be </span><span style="color:#000000;font-family:Arial;font-size:10pt;">more volatile than those of fixed-income securities.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Mid-Cap Company Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Investing in mid-cap companies </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">carries the risk that due to current market conditions these companies may be out of favor with investors. Stocks of mid-cap companies may be more volatile than those of </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">larger companies due to, among other reasons, narrower product lines, more limited financial resources and fewer </span><span style="color:#000000;font-family:Arial;font-size:10pt;">experienced managers.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Privately Placed Securities Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The Fund’s </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">investments may also include privately placed securities, which are subject to resale restrictions. These securities will have the effect of increasing the level of Fund illiquidity to the extent the Fund may be unable to sell or transfer these securities due to restrictions on transfers or on the ability to find buyers interested in purchasing the securities. The illiquidity of the market, as well as the lack of publicly available information regarding these securities, may also adversely affect the ability to arrive at a fair value for certain securities at certain times and could </span><span style="color:#000000;font-family:Arial;font-size:10pt;">make it difficult for the Fund to sell certain securities.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Securities Lending Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Engaging in securities lending </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">could increase the market and credit risk for Fund investments. The Fund may lose money if it does not recover borrowed securities, the value of the collateral falls, or the value of investments made with cash collateral declines. The Fund’s loans will be collateralized by securities issued or guaranteed by the U.S. Government or its agencies and instrumentalities, which subjects the Fund to the credit risk of the U.S. Government or the issuing federal agency or instrumentality. If the value of either the cash collateral or the Fund’s investments of the cash collateral falls below the amount owed to a borrower, the Fund also may incur losses that exceed the amount it earned on lending the security. Securities lending also involves the risks of delay in receiving additional collateral or possible loss of rights in the collateral if the borrower fails. Another risk of securities lending is the risk that the loaned portfolio securities may not be available to the Fund on a timely basis and the Fund may therefore lose </span><span style="color:#000000;font-family:Arial;font-size:10pt;">the opportunity to sell the securities at a desirable price.</span> <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Performance Information</span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">The below bar chart and table illustrate the risks of investing in the Fund by showing changes in the Fund’s performance from calendar year to calendar year and comparing the Fund’s average annual returns to those of the Russell 3000</span><span style="font-family:Arial;font-size:6.5pt;position:relative;top:-3.25pt;">®</span><span style="font-family:Arial;font-size:10pt;"> Index (a broad-based securities market </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">index) and the Russell Midcap</span><span style="font-family:Arial;font-size:6.5pt;position:relative;top:-3.25pt;">®</span><span style="font-family:Arial;font-size:10pt;"> Growth Index, which is </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">relevant to the Fund because it has characteristics similar to the Fund’s investment strategies. </span><span style="font-family:Arial;font-size:10pt;"> Fees and expenses </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">incurred at the contract level are not reflected in the bar chart or table. If these amounts were reflected, returns would be less than those shown. </span><span style="font-family:Arial;font-size:10pt;">Of course, past </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">performance of the Fund is not necessarily an indication </span><span style="font-family:Arial;font-size:10pt;">of how the Fund will perform in the future.</span><span style="font-family:Arial;font-size:10pt;">Janus Henderson Investors US LLC (“Janus”) assumed </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">sub-advisory duties of the Fund effective December 7, </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">2015. </span><span style="font-family:Arial;font-size:10pt;">Allianz Global Investors U.S. LLC (“AllianzGI”) </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">served as a subadviser from March 22, 2011 through July 25, 2022. Voya Investment Management Co. LLC (“Voya IM”) assumed sub-advisory duties of the Fund from </span><span style="font-family:Arial;font-size:10pt;">AllianzGI effective July 25, 2022.</span> <br/> <br/><span style="font-family:Arial;font-size:10pt;margin-left:0%;">The percentage of the Fund’s assets that each subadviser manages may, at the adviser’s discretion, change from </span><span style="font-family:Arial;font-size:10pt;">time to time. </span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">The below bar chart and table illustrate the risks of investing in the Fund by showing changes in the Fund’s performance from calendar year to calendar year and comparing the Fund’s average annual returns to those of the Russell 3000</span><span style="font-family:Arial;font-size:6.5pt;position:relative;top:-3.25pt;">®</span><span style="font-family:Arial;font-size:10pt;"> Index (a broad-based securities market </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">index) and the Russell Midcap</span><span style="font-family:Arial;font-size:6.5pt;position:relative;top:-3.25pt;">®</span><span style="font-family:Arial;font-size:10pt;"> Growth Index, which is </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">relevant to the Fund because it has characteristics similar to the Fund’s investment strategies. </span> <span style="font-family:Arial;font-size:10pt;"> Fees and expenses </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">incurred at the contract level are not reflected in the bar chart or table. If these amounts were reflected, returns would be less than those shown. </span> <span style="font-family:Arial;font-size:10pt;">Of course, past </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">performance of the Fund is not necessarily an indication </span><span style="font-family:Arial;font-size:10pt;">of how the Fund will perform in the future.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;">During the period shown in the bar chart:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Highest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">June 30, 2020</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">27.28%</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Lowest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">March 31, 2020</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">-21.73%</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Year to Date Most </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Recent Quarter:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">June 30, 2026</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">14.56%</span> <span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Highest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span> 2020-06-30 0.2728 <span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Lowest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span> 2020-03-31 -0.2173 <span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Year to Date Most </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Recent Quarter:</span> 2026-06-30 0.1456 <span style="font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Average Annual Total Returns</span><span style="font-family:Arial;font-size:10pt;"> (For the periods ended December 31, 2025)</span> 0.1134 0.0788 0.1356 0.1715 0.1315 0.1429 0.0866 0.0665 0.1249 <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Investment Objective</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund seeks capital growth through investment in equity securities of medium capitalization companies </span><span style="color:#000000;font-family:Arial;font-size:10pt;">using a value-oriented investment approach.</span> <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Fees and Expenses of the Fund</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">This table describes the fees and expenses that you may pay if you buy, hold and sell shares of the Fund. </span><span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">The table </span><span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">and the example below do not reflect the separate account fees charged in the variable annuity or variable life insurance policy (“Variable Contracts”) in which the Fund is offered.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> If separate account fees were </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">shown, the Fund’s annual operating expenses would be higher. Please see your Variable Contract prospectus for </span><span style="color:#000000;font-family:Arial;font-size:10pt;">more details on the separate account fees.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;text-decoration:underline;">Annual Fund Operating Expenses</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> (expenses that you </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">pay each year as a percentage of the value of your </span><span style="color:#000000;font-family:Arial;font-size:10pt;">investment)</span> 0.0071 0.0012 0.0083 -0.0002 0.0081 <span style="font-family:Arial;font-size:8pt;">September 30, 2027</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-style:italic;font-weight:bold;text-decoration:underline;">Expense Example</span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem or hold all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same (except that the Example incorporates any applicable fee waiver and/or expense limitation arrangements for only the first year). The Example does not reflect charges imposed by the Variable Contract. If the </span><span style="font-family:Arial;font-size:10pt;">separate account fees were reflected, the </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">expenses would be higher. See the Variable Contract prospectus for information on such charges. Although </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">your actual costs may be higher or lower, based on these assumptions and the net expenses shown in the fee table, </span><span style="color:#000000;font-family:Arial;font-size:10pt;">your costs would be:</span> 83 263 459 1023 <span style="color:#000000;font-family:Arial;font-size:10pt;font-style:italic;font-weight:bold;text-decoration:underline;">Portfolio Turnover</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). These costs, which are not reflected in annual fund operating expenses or in the Example, affect the </span><span style="color:#000000;font-family:Arial;font-size:10pt;">Fund’s performance.</span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">During the most recent fiscal year, the Fund’s portfolio turnover rate was </span><span style="font-family:Arial;font-size:10pt;">112%</span><span style="font-family:Arial;font-size:10pt;"> of the average value of its </span><span style="font-family:Arial;font-size:10pt;">portfolio.</span> 1.12 <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Principal Investment Strategies of the Fund</span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">The Fund invests, under normal circumstances, at least 80% of net assets in </span><span style="font-family:Arial;font-size:10pt;">securities of mid-cap value </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">companies.</span><span style="font-family:Arial;font-size:10pt;">For purposes of the Fund’s 80% investment </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">policy, a company is considered to be a value company if it:</span><span style="font-family:Arial;font-size:10pt;line-height:12pt;"> </span><span style="font-family:Arial;font-size:10pt;">(i) issues securities that are represented in a third-party </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">value-style index or that are classified as a value company by a third-party vendor; or (ii)</span><span style="font-family:Arial;font-size:10pt;"> meets a relevant equity </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">market measurement in at least one “value metric” similar to those commonly used by third-party index providers or third-party vendors in value classifications, such as earnings growth, price-to-earnings or sales growth, among others.</span><span style="font-family:Arial;font-size:10pt;"> Generally, mid-cap companies will include </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">companies whose market capitalizations, at the time of purchase, range from the market capitalization of the smallest company included in the Russell Midcap® Index to the market capitalization of the largest company in the Russell Midcap® Index during the most recent 12-month period.</span><span style="font-family:Arial;font-size:10pt;"> As of August 31, 2026, the median stock by market </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">capitalization in the Index was approximately $</span><span style="font-family:Arial;font-size:10pt;">13.370</span><span style="font-family:Arial;font-size:10pt;line-height:12pt;"> </span><span style="font-family:Arial;font-size:10pt;">million, and the largest stock was approximately </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">$</span><span style="font-family:Arial;font-size:10pt;">114.575 billion. The size of the companies in the Index </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">changes with market conditions and the composition of </span><span style="font-family:Arial;font-size:10pt;">the Index. </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">The </span><span style="font-family:Arial;font-size:10pt;">Fund invests primarily in equity securities. The </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">subadvisers use value-oriented investment approaches to identify companies in which to invest the Fund’s assets. </span><span style="font-family:Arial;font-size:10pt;">Within the universe of value companies, the subadvisers </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">generally </span><span style="font-family:Arial;font-size:10pt;">select stocks that they believe meet one or more </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">of the following criteria: (1) are undervalued relative to other securities in the same industry or market, (2) exhibit good or improving fundamentals, or (3) exhibit an identifiable catalyst (e.g., an event or company report that significantly affects the price of a security, such as an </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">earnings report, new product launch, new legislation, or lawsuit) that could close the gap between market value </span><span style="color:#000000;font-family:Arial;font-size:10pt;">and fair value over the next one to two years. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund may invest up to 20% of its total assets in foreign securities. The Fund may also invest in depositary receipts, which are instruments issued by a bank that </span><span style="color:#000000;font-family:Arial;font-size:10pt;">represent an interest in a foreign issuer’s securities. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">In order to generate additional income, the Fund may lend portfolio securities to broker-dealers and other financial institutions provided that the value of the loaned securities does not exceed 30% of the Fund’s total assets. These loans earn income for the Fund and are collateralized by cash and securities issued or guaranteed by the U.S. </span><span style="color:#000000;font-family:Arial;font-size:10pt;">Government or its agencies or instrumentalities.</span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">The Fund invests, under normal circumstances, at least 80% of net assets in </span><span style="font-family:Arial;font-size:10pt;">securities of mid-cap value </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">companies.</span> <span style="font-family:Arial;font-size:10pt;">For purposes of the Fund’s 80% investment </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">policy, a company is considered to be a value company if it:</span><span style="font-family:Arial;font-size:10pt;line-height:12pt;"> </span><span style="font-family:Arial;font-size:10pt;">(i) issues securities that are represented in a third-party </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">value-style index or that are classified as a value company by a third-party vendor; or (ii)</span><span style="font-family:Arial;font-size:10pt;"> meets a relevant equity </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">market measurement in at least one “value metric” similar to those commonly used by third-party index providers or third-party vendors in value classifications, such as earnings growth, price-to-earnings or sales growth, among others.</span><span style="font-family:Arial;font-size:10pt;"> Generally, mid-cap companies will include </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">companies whose market capitalizations, at the time of purchase, range from the market capitalization of the smallest company included in the Russell Midcap® Index to the market capitalization of the largest company in the Russell Midcap® Index during the most recent 12-month period.</span> <span style="font-family:Arial;font-size:10pt;">For purposes of the Fund’s 80% investment </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">policy, a company is considered to be a value company if it:</span><span style="font-family:Arial;font-size:10pt;line-height:12pt;"> </span><span style="font-family:Arial;font-size:10pt;">(i) issues securities that are represented in a third-party </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">value-style index or that are classified as a value company by a third-party vendor; or (ii)</span><span style="font-family:Arial;font-size:10pt;"> meets a relevant equity </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">market measurement in at least one “value metric” similar to those commonly used by third-party index providers or third-party vendors in value classifications, such as earnings growth, price-to-earnings or sales growth, among others.</span><span style="font-family:Arial;font-size:10pt;"> Generally, mid-cap companies will include </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">companies whose market capitalizations, at the time of purchase, range from the market capitalization of the smallest company included in the Russell Midcap® Index to the market capitalization of the largest company in the Russell Midcap® Index during the most recent 12-month period.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;">Shares of the Fund are not bank deposits and </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">are not guaranteed or insured by any bank, government entity or the Federal Deposit Insurance Corporation.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;"> If the </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">value of the assets of the Fund goes down, you could lose </span><span style="color:#000000;font-family:Arial;font-size:10pt;">money.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Management Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The investment style or strategy used </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">by the Fund may fail to produce the intended result. A subadviser’s assessment of a particular security or company may prove incorrect, resulting in losses or </span><span style="color:#000000;font-family:Arial;font-size:10pt;">underperformance.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Depositary Receipts Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;">Depositary receipts are </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">generally subject to the same risks as the foreign securities that they evidence or into which they may be converted. Depositary receipts may or may not be jointly sponsored by the underlying issuer. The issuers of unsponsored depositary receipts are not obligated to disclose information that is considered material in the United States. Therefore, there may be less information available regarding the issuers and there may not be a correlation between such information and the market value of the depositary receipts. Certain depositary receipts are not listed on an exchange and therefore are </span><span style="color:#000000;font-family:Arial;font-size:10pt;">subject to illiquidity risk.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Equity Securities Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The Fund’s investments in equity </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">securities are subject to the risk that stock prices will fall and may underperform other asset classes. Individual stock prices fluctuate from day-to-day and may decline significantly. The prices of individual stocks may be </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">negatively affected by poor company results or other factors affecting individual prices, as well as industry and/or economic trends and developments affecting industries </span><span style="color:#000000;font-family:Arial;font-size:10pt;">or the securities market as a whole.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Foreign Investment Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Investment in foreign </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">securities involves risks due to several factors, such as illiquidity, the lack of public information, changes in the exchange rates between foreign currencies and the U.S. dollar, unfavorable political, social and legal developments, or economic and financial instability. Foreign companies are not subject to the U.S. accounting and financial reporting standards and may have riskier settlement procedures. U.S. investments that are denominated in foreign currencies or that are traded in foreign markets, or securities of U.S. companies that have significant foreign operations may be subject to foreign </span><span style="color:#000000;font-family:Arial;font-size:10pt;">investment risk.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Market Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The Fund’s share price can fall because of </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">weakness in the broad market, a particular industry, or specific holdings or due to adverse social, political or economic developments here or abroad, changes in investor psychology, technological disruptions, or heavy institutional selling and other conditions or events (including, for example, military confrontations, war, terrorism, trade wars, disease/virus outbreaks and epidemics). The prices of individual securities may fluctuate, sometimes dramatically, from day to day. The prices of stocks and other equity securities tend to be </span><span style="color:#000000;font-family:Arial;font-size:10pt;">more volatile than those of fixed-income securities.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Mid-Cap Company Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Investing in mid-cap companies </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">carries the risk that due to current market conditions these companies may be out of favor with investors. Stocks of mid-cap companies may be more volatile than those of larger companies due to, among other reasons, narrower product lines, more limited financial resources and fewer </span><span style="color:#000000;font-family:Arial;font-size:10pt;">experienced managers.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Securities Lending Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Engaging in securities lending </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">could increase the market and credit risk for Fund investments. The Fund may lose money if it does not recover borrowed securities, the value of the collateral falls, or the value of investments made with cash collateral declines. The Fund’s loans will be collateralized by securities issued or guaranteed by the U.S. Government or its agencies and instrumentalities, which subjects the Fund to the credit risk of the U.S. Government or the issuing federal agency or instrumentality. If the value of either the cash collateral or the Fund’s investments of the cash collateral falls below the amount owed to a borrower, the Fund also may incur losses that exceed the amount it earned on lending the security. Securities lending also involves the risks of delay in receiving additional collateral or possible loss of rights in the collateral if the borrower </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">fails. Another risk of securities lending is the risk that the loaned portfolio securities may not be available to the Fund on a timely basis and the Fund may therefore lose </span><span style="color:#000000;font-family:Arial;font-size:10pt;">the opportunity to sell the securities at a desirable price.</span> <span style="font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Value Style Risk.</span><span style="font-family:Arial;font-size:10pt;"> Generally, “value” stocks are stocks of </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">companies that </span><span style="font-family:Arial;font-size:10pt;">are considered to be currently </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">undervalued in the marketplace. </span><span style="font-family:Arial;font-size:10pt;">The assessment that a </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">particular security is undervalued in relation to the company’s fundamental economic value may prove incorrect</span><span style="font-family:Arial;font-size:10pt;">, and the price of the company’s stock may fall or may not approach the value that has been attributed to it.</span> <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Performance Information</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">As a result of a reorganization which occurred on May 24, 2021 (the “Reorganization”), the Fund acquired all of the assets and liabilities of the Mid Cap Value Fund (the “Predecessor Fund”), a series of VALIC Company II. The returns presented for the Fund reflect the performance of the Predecessor Fund. The Fund had not yet commenced operations prior to the Reorganization. The performance information below is based on the performance of the Predecessor Fund for periods prior to the date of the Reorganization. The Fund and the Predecessor Fund had the same investment objectives, strategies and portfolio </span><span style="color:#000000;font-family:Arial;font-size:10pt;">management team on the date of the Reorganization. </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">The below bar chart and table illustrate the risks of investing in the Fund by showing changes in the Fund’s performance from calendar year to calendar year and comparing the Fund’s average annual returns to those of the Russell 3000</span><span style="font-family:Arial;font-size:6.5pt;position:relative;top:-3.25pt;">®</span><span style="font-family:Arial;font-size:10pt;"> Index (a broad-based securities market </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">index) and the Russell Midcap</span><span style="font-family:Arial;font-size:6.5pt;position:relative;top:-3.25pt;">®</span><span style="font-family:Arial;font-size:10pt;"> Value Index, which is </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">relevant to the Fund because it has characteristics similar to the Fund’s investment strategies.</span><span style="font-family:Arial;font-size:10pt;"> Fees and expenses </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">incurred at the contract level are not reflected in the bar chart or table. If these amounts were reflected, returns would be less than those shown. </span><span style="font-family:Arial;font-size:10pt;">Of course, past </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">performance of the Fund is not necessarily an indication </span><span style="font-family:Arial;font-size:10pt;">of how the Fund will perform in the future.</span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">Wellington Management Company LLP (“Wellington Management”) assumed subadvisory duties </span><span style="font-family:Arial;font-size:10pt;">of the </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">Predecessor Fund </span><span style="font-family:Arial;font-size:10pt;">on January 1, 2002. Boston Partners </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">Global Investors, Inc. d/b/a Boston Partners (“Boston Partners”) assumed co-subadvisory duties of the </span><span style="font-family:Arial;font-size:10pt;">Predecessor Fund on December 5, 2011.</span> <br/><span style="font-family:Arial;font-size:10pt;margin-left:0%;">The percentage of the Fund’s assets each subadviser manages may change from time-to-time at the discretion </span><span style="font-family:Arial;font-size:10pt;">of the Fund’s investment adviser, VALIC. </span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">The below bar chart and table illustrate the risks of investing in the Fund by showing changes in the Fund’s performance from calendar year to calendar year and comparing the Fund’s average annual returns to those of the Russell 3000</span><span style="font-family:Arial;font-size:6.5pt;position:relative;top:-3.25pt;">®</span><span style="font-family:Arial;font-size:10pt;"> Index (a broad-based securities market </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">index) and the Russell Midcap</span><span style="font-family:Arial;font-size:6.5pt;position:relative;top:-3.25pt;">®</span><span style="font-family:Arial;font-size:10pt;"> Value Index, which is </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">relevant to the Fund because it has characteristics similar to the Fund’s investment strategies.</span> <span style="font-family:Arial;font-size:10pt;"> Fees and expenses </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">incurred at the contract level are not reflected in the bar chart or table. If these amounts were reflected, returns would be less than those shown. </span> <span style="font-family:Arial;font-size:10pt;">Of course, past </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">performance of the Fund is not necessarily an indication </span><span style="font-family:Arial;font-size:10pt;">of how the Fund will perform in the future.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;">During the period shown in the bar chart:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Highest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">December 31, 2020</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">24.58%</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Lowest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">March 31, 2020</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">-31.68%</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Year to Date Most </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Recent Quarter:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">June 30, 2026</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">16.22%</span> <span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Highest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span> 2020-12-31 0.2458 <span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Lowest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span> 2020-03-31 -0.3168 <span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Year to Date Most </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Recent Quarter:</span> 2026-06-30 0.1622 <span style="font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Average Annual Total Returns</span><span style="font-family:Arial;font-size:10pt;"> (For the periods ended December 31, 2025)</span> 0.0723 0.1019 0.0929 0.1715 0.1315 0.1429 0.1105 0.0983 0.0978 <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Investment Objective</span> <span style="color:#000000;font-family:Arial;font-size:10pt;">The Fund seeks growth and current income.</span> <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Fees and Expenses of the Fund</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">This table describes the fees and expenses that you may pay if you buy, hold and sell shares of the Fund. </span><span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">The table </span><span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">and the example below do not reflect the separate account fees charged in the variable annuity or variable life insurance policy (“Variable Contracts”) in which the Fund is offered.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> As an investor in the Fund, </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">you pay the expenses of the Fund and indirectly pay a proportionate share of the expenses of the Underlying Funds. If separate account fees were shown, the Fund’s annual operating expenses would be higher. Please see your Variable Contract prospectus for more details on the </span><span style="color:#000000;font-family:Arial;font-size:10pt;">separate account fees.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;text-decoration:underline;">Annual Fund Operating Expenses</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> (expenses that you </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">pay each year as a percentage of the value of your </span><span style="color:#000000;font-family:Arial;font-size:10pt;">investment)</span> 0.0010 0.0003 0.0047 0.0060 -0.0003 0.0057 <span style="color:#000000;font-family:Arial;font-size:8pt;">The Total Annual Fund Operating Expenses for the Fund do not correlate to the ratio of net expenses to average net assets provided in the Financial Highlights table of the Fund’s annual report, which reflects the net operating expenses of the Fund and does not include Acquired Fund Fees and Expenses.</span> <span style="font-family:Arial;font-size:8pt;">September 30, 2027</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-style:italic;font-weight:bold;text-decoration:underline;">Expense Example</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem or hold all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same (except that the Example </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">incorporates any applicable fee waiver and/or expense limitation arrangements for only the first year). The Example does not reflect charges imposed by the Variable Contract. If the </span><span style="font-family:Arial;font-size:10pt;">separate account fees were reflected, the </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">expenses would be higher. See the Variable Contract prospectus for information on such charges. Although your actual costs may be higher or lower, based on these assumptions and the net expenses shown in the fee table, </span><span style="font-family:Arial;font-size:10pt;">your costs would be:</span> 58 189 332 747 <span style="color:#000000;font-family:Arial;font-size:10pt;font-style:italic;font-weight:bold;text-decoration:underline;">Portfolio Turnover</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund, which operates as a fund-of-funds, does not pay transaction costs when it buys and sells shares of the Underlying Funds (or “turns over” its portfolio). An Underlying Fund pays transaction costs, such as commissions, when it turns over its portfolio and a higher portfolio turnover rate may indicate higher transaction costs. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the </span><span style="color:#000000;font-family:Arial;font-size:10pt;">performance of both the Underlying Fund and the Fund. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">During the most recent fiscal year, the Fund’s portfolio </span><span style="color:#000000;font-family:Arial;font-size:10pt;">turnover rate was </span><span style="color:#000000;font-family:Arial;font-size:10pt;">21</span><span style="color:#000000;font-family:Arial;font-size:10pt;">% of the average value of its portfolio.</span> 0.21 <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Principal Investment Strategies of the Fund</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">As a fund-of-funds, the Fund’s principal investment strategy is to allocate assets among a combination of mutual funds (“Underlying Funds”) that, in turn, invest directly in a wide range of portfolio securities (like stocks and bonds). The Fund invests its assets in Underlying Funds that invest in securities that seek growth of capital, such as stocks, and securities that generate current income, such as bonds and U.S. government-issued securities. The Fund generally has a lower level of risk than the Aggressive Allocation Lifestyle Fund but a greater level of risk than the Conservative Allocation </span><span style="color:#000000;font-family:Arial;font-size:10pt;">Lifestyle Fund. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund’s indirect holdings are primarily in domestic and foreign fixed-income securities and equity securities of domestic large-cap companies. The Fund’s indirect holdings may also include foreign and domestic equity securities of medium- and small-cap companies, and lower rated fixed-income securities (often referred to as </span><span style="color:#000000;font-family:Arial;font-size:10pt;">“junk bonds”), and money market securities. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">Asset allocation is the most critical investment decision that you make as an investor. Selecting the appropriate combination should be based on your personal investment </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">goals, time horizons and risk tolerance. The projected </span><span style="color:#000000;font-family:Arial;font-size:10pt;">asset allocation ranges for the Fund are as follows:</span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0.0pt;">•</span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0.0pt;">Domestic Equity Funds</span><span style="color:#000000;font-family:Arial;font-size:10pt;">25% - 55%</span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0.0pt;">•</span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0.0pt;">Fixed-Income Funds</span><span style="color:#000000;font-family:Arial;font-size:10pt;">30% - 70%</span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0.0pt;">•</span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0.0pt;">International Equity Funds</span><span style="color:#000000;font-family:Arial;font-size:10pt;">0% - 25%</span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">This Fund is managed so that it can serve as a complete investment program for you or as a core part of your larger portfolio. The Underlying Funds have been selected to represent a reasonable spectrum of investment options for the Fund. The subadviser has based the target investment percentages for the Fund on the degree to which it believes the Underlying Funds, in combination, to be appropriate for the Fund’s investment objective. The subadviser may change the asset allocation ranges from time to time. In selecting Underlying Funds, the subadviser may choose from other series of VALIC Company I and from unaffiliated money market funds that VALIC has designated available for investment for the Fund. The Underlying Funds </span><span style="font-family:Arial;font-size:10pt;">include funds subadvised by </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">the subadviser. Consistent with the Fund’s objective and strategies, the subadviser is permitted to invest in Underlying Funds it subadvises. When choosing among potential Underlying Funds, the subadviser faces a conflict of interest because it will receive additional fees when it selects Underlying Funds for which it also acts as subadviser. Please refer to the Fund’s </span><span style="font-family:Arial;font-size:10pt;">Statement of </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">Additional Information</span><span style="font-family:Arial;font-size:10pt;"> for more information on the subadviser’s conflicts of interest. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">Although the Fund will generally maintain its assets within the allocations above, the Fund may hold cash or cash equivalents for various purposes, including for temporary </span><span style="color:#000000;font-family:Arial;font-size:10pt;">defensive purposes. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Underlying Funds in which the Fund invests may engage in active and frequent trading of portfolio securities in an effort to achieve their investment </span><span style="color:#000000;font-family:Arial;font-size:10pt;">objectives.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;">Shares of the Fund are not bank deposits and </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">are not guaranteed or insured by any bank, government entity or the Federal Deposit Insurance Corporation.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;"> If the </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">value of the assets of the Fund goes down, you could lose </span><span style="color:#000000;font-family:Arial;font-size:10pt;">money.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Active Trading Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The Underlying Funds may actively </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">trade, which is associated with high portfolio turnover rates and which may result in higher transaction costs to the Underlying Funds. High portfolio turnover rates of the Underlying Funds can adversely affect the Fund’s performance. Active trading tends to be more pronounced </span><span style="color:#000000;font-family:Arial;font-size:10pt;">during periods of increased market volatility.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Affiliated Fund Risk. </span><span style="color:#000000;font-family:Arial;font-size:10pt;">The subadviser is subject to </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">conflicts of interest in the selection and allocation of the Fund’s assets among Underlying Funds. The subadviser serves as subadviser to certain Underlying Funds in which the Fund may invest. The subadviser will receive more revenue when it selects an Underlying Fund it subadvises </span><span style="color:#000000;font-family:Arial;font-size:10pt;">for inclusion in the Fund’s portfolio.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Call or Prepayment Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> During periods of falling </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">interest rates, a bond issuer may “call” a bond to repay it before its maturity date. An Underlying Fund may only be able to invest the bond’s proceeds at lower interest rates, </span><span style="color:#000000;font-family:Arial;font-size:10pt;">resulting in a decline in the Underlying Fund’s income.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Credit Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The Fund may suffer losses if the issuer of </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">a fixed-income security owned by an Underlying Fund is </span><span style="color:#000000;font-family:Arial;font-size:10pt;">unable to make interest or principal payments.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Equity Securities Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The Underlying Funds may </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">invest in equity securities, which are subject to the risk that stock prices will fall and may underperform other asset classes. Individual stock prices fluctuate from day-to-day and may decline significantly. The prices of individual stocks may be negatively affected by poor company results or other factors affecting individual prices, as well as industry and/or economic trends and developments </span><span style="color:#000000;font-family:Arial;font-size:10pt;">affecting industries or the securities market as a whole.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Foreign Investment Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The Underlying Funds may </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">invest in foreign securities. Investment in foreign securities involves risks due to several factors, such as illiquidity, the lack of public information, changes in the exchange rates between foreign currencies and the U.S. dollar, unfavorable political, social and legal developments, or economic and financial instability. Foreign companies are not subject to the U.S. accounting and financial reporting standards and may have riskier settlement procedures. U.S. investments that are denominated in foreign currencies or that are traded in foreign markets, or </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">securities of U.S. companies that have significant foreign </span><span style="color:#000000;font-family:Arial;font-size:10pt;">operations may be subject to foreign investment risk.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Interest Rate Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The Underlying Funds may invest in </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">fixed-income securities. Fixed income securities may be subject to volatility due to changes in interest rates. The value of fixed-income securities may decline when interest rates go up or increase when interest rates go down. The interest earned on fixed-income securities may decline when interest rates go down or increase when interest rates go up. Duration is a measure of interest rate risk that indicates how price-sensitive a bond is to changes in interest rates. Longer-term and lower coupon bonds tend to be more sensitive to changes in interest rates. For example, a bond with a duration of three years will decrease in value by approximately 3% if interest rates increase by 1%. Any future changes in monetary policy made by central banks and/or their governments </span><span style="color:#000000;font-family:Arial;font-size:10pt;">are likely to affect the level of interest rates.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Fund-of-Funds Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The costs of investing in the Fund, </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">as a fund-of-funds, may be higher than the costs of investing in a mutual fund that invests most or all of its assets directly in individual securities. An Underlying Fund may change its investment objective or policies without the Fund’s approval, which could force the Fund to withdraw its investment from such Underlying Fund at a time that is unfavorable to the Fund. In addition, one Underlying Fund may buy the same securities that another Underlying Fund sells. Therefore, the Fund would indirectly bear the costs of these trades without accomplishing any </span><span style="color:#000000;font-family:Arial;font-size:10pt;">investment purpose.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Underlying Funds Risk. </span><span style="color:#000000;font-family:Arial;font-size:10pt;">The risks of the Fund owning </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">the Underlying Funds generally reflect the risks of owning the underlying securities held by the Underlying Funds. Disruptions in the markets for the securities held by the Underlying Funds could result in losses on the Fund’s investment in such securities. The Underlying Funds also have fees that increase their costs versus owning the underlying securities directly. For example, the Fund indirectly pays a portion of the expenses (including management fees and operating expenses) incurred by </span><span style="color:#000000;font-family:Arial;font-size:10pt;">the Underlying Funds.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Large-Cap Companies Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The Underlying Funds may </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">invest in large-cap companies. Investing primarily in large-cap companies carries the risk that due to current market conditions these companies may be out of favor with investors. Large-cap companies may be unable to respond quickly to new competitive challenges or attain the high growth rate of successful smaller companies. Larger, more established companies may be unable to respond quickly to new competitive challenges, such as changes in technology and consumer tastes. Larger </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">companies also may not be able to attain the high growth rate of successful smaller companies, particularly during </span><span style="color:#000000;font-family:Arial;font-size:10pt;">extended periods of economic expansion.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Junk Bond Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The Underlying Funds may invest in </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">high yielding, high risk fixed-income securities (often referred to as “junk bonds”), which typically involve significantly greater credit risk, market risk and interest rate risk compared to higher rated fixed-income securities. Issuers of junk bonds are less secure financially and their securities are more sensitive to downturns in the economy. The market for junk bonds may not be as liquid as that for </span><span style="color:#000000;font-family:Arial;font-size:10pt;">more highly rated securities.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Market Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The share price of the Underlying Funds </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">and, as a result, the share price of the Fund can fall because of weakness in the broad market, a particular industry, or specific holdings or due to adverse social, political or economic developments here or abroad, changes in investor psychology, technological disruptions, or heavy institutional selling and other conditions or events (including, for example, military confrontations, war, terrorism, trade wars, disease/virus outbreaks and epidemics). The prices of individual securities may fluctuate, sometimes dramatically, from day to day. The prices of stocks and other equity securities tend to be </span><span style="color:#000000;font-family:Arial;font-size:10pt;">more volatile than those of fixed-income securities.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Asset Allocation Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The Fund’s risks will directly </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">correspond to the risks of the Underlying Funds in which it invests. The Fund is subject to the risk that the selection of the Underlying Funds and the allocation and reallocation of the Fund’s assets among the various asset classes and market sectors may not produce the desired </span><span style="color:#000000;font-family:Arial;font-size:10pt;">result.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Mid-Cap Company Risk. </span><span style="color:#000000;font-family:Arial;font-size:10pt;">The Underlying Funds may </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">invest in mid-cap companies. Investing primarily in mid-cap companies carries the risk that due to current market conditions these companies may be out of favor with investors. Stocks of mid-cap companies may be more volatile than those of larger companies due to, among other reasons, narrower product lines, more limited </span><span style="color:#000000;font-family:Arial;font-size:10pt;">financial resources and fewer experienced managers.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Small-Cap Company Risk. </span><span style="color:#000000;font-family:Arial;font-size:10pt;">The Underlying Funds may </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">invest in small-cap companies. Investing in small-cap companies carries the risk that due to current market conditions these companies may be out of favor with investors. Small companies often are in the early stages of development with limited product lines, markets, or financial resources and managements lacking depth and experience, which may cause their stock prices to be more volatile than those of larger companies. Small company stocks may be less liquid yet subject to abrupt or erratic </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">price movements. It may take a substantial period of time before an Underlying Fund realizes a gain on an investment in a small-cap company, if it realizes any gain </span><span style="color:#000000;font-family:Arial;font-size:10pt;">at all.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Underlying Fund Securities Lending Risk</span><span style="color:#000000;font-family:Arial;font-size:10pt;">. Certain </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">Underlying Funds may lend portfolio securities to generate additional income. Engaging in securities lending could increase the market and credit risk for an Underlying Fund’s investments. An Underlying Fund may lose money if it does not recover borrowed securities, the value of the collateral falls, or the value of investments made with cash collateral declines. An Underlying Fund’s loans will be collateralized by securities issued or guaranteed by the U.S. Government or its agencies and instrumentalities, which subjects such Underlying Fund to the credit risk of the U.S. Government or the issuing federal agency or instrumentality. If the value of either the cash collateral or an Underlying Fund’s investments of the cash collateral falls below the amount owed to a borrower, the Underlying Fund also may incur losses that exceed the amount it earned on lending the security. Securities lending also involves the risks of delay in receiving additional collateral or possible loss of rights in the collateral if the borrower fails. Another risk of securities lending is the risk that the loaned portfolio securities may not be available to an Underlying Fund on a timely basis and the Underlying Fund may therefore lose the opportunity to sell the securities at a desirable price. If an Underlying Fund in which the Fund invests incurs losses as a result of its securities lending activities, the value of the Underlying Fund may decrease, which will have an </span><span style="color:#000000;font-family:Arial;font-size:10pt;">adverse effect on the Fund.</span> <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Performance Information</span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">As a result of a reorganization which occurred on May 24, 2021 (the “Reorganization”), the Fund acquired all of the assets and liabilities of the Moderate </span><span style="font-family:Arial;font-size:10pt;">Growth Lifestyle </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">Fund (the “Predecessor Fund”), a series of VALIC Company II. The Fund adopted the performance of the Predecessor Fund and returns presented for the Fund prior to that date reflect the performance of the Predecessor Fund. The Fund had not yet commenced operations prior to the Reorganization. The performance information below is based on the performance of the Predecessor Fund for periods prior to the date of the Reorganization. The Fund and the Predecessor Fund had substantially similar investment objectives and strategies and had the same portfolio management team as of the </span><span style="font-family:Arial;font-size:10pt;">date of the Reorganization. </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">The below bar chart and table illustrate the risks of investing in the Fund by showing changes in the Fund’s performance from calendar year to calendar year and comparing the Fund’s average annual returns to those of the S&amp;P 500</span><span style="font-family:Arial;font-size:6.5pt;position:relative;top:-3.25pt;">®</span><span style="font-family:Arial;font-size:10pt;"> Index (a broad-based securities market </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">index) and a blended index.  The blended index is comprised of  41% Russell 3000</span><span style="font-family:Arial;font-size:6.5pt;position:relative;top:-3.25pt;">®</span><span style="font-family:Arial;font-size:10pt;"> Index, 14% MSCI EAFE </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">Index (net) and 45% Bloomberg U.S. Aggregate Bond Index (the “Mod Alloc Lifestyle Blended Index”).  The Mod Alloc Lifestyle Blended Index is relevant to the Fund because it has characteristics similar to the Fund’s investment strategies.</span><span style="font-family:Arial;font-size:10pt;"> Fees and expenses incurred at the </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">contract level are not reflected in the bar chart or table. If these amounts were reflected, returns would be less than those shown. </span><span style="font-family:Arial;font-size:10pt;">Of course, past performance of the Fund is </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">not necessarily an indication of how the Fund will perform </span><span style="font-family:Arial;font-size:10pt;">in the future.</span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">J.P. Morgan Investment Management Inc. (“JPMIM”) assumed subadvisory responsibility for the Fund effective September 28, 2022. Prior to that, PineBridge Investments LLC served as subadviser to the Fund and to </span><span style="color:#000000;font-family:Arial;font-size:10pt;">the Predecessor Fund.   </span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">The below bar chart and table illustrate the risks of investing in the Fund by showing changes in the Fund’s performance from calendar year to calendar year and comparing the Fund’s average annual returns to those of the S&amp;P 500</span><span style="font-family:Arial;font-size:6.5pt;position:relative;top:-3.25pt;">®</span><span style="font-family:Arial;font-size:10pt;"> Index (a broad-based securities market </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">index) and a blended index.  The blended index is comprised of  41% Russell 3000</span><span style="font-family:Arial;font-size:6.5pt;position:relative;top:-3.25pt;">®</span><span style="font-family:Arial;font-size:10pt;"> Index, 14% MSCI EAFE </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">Index (net) and 45% Bloomberg U.S. Aggregate Bond Index (the “Mod Alloc Lifestyle Blended Index”).  The Mod Alloc Lifestyle Blended Index is relevant to the Fund because it has characteristics similar to the Fund’s investment strategies.</span> <span style="font-family:Arial;font-size:10pt;"> Fees and expenses incurred at the </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">contract level are not reflected in the bar chart or table. If these amounts were reflected, returns would be less than those shown. </span> <span style="font-family:Arial;font-size:10pt;">Of course, past performance of the Fund is </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">not necessarily an indication of how the Fund will perform </span><span style="font-family:Arial;font-size:10pt;">in the future.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;">During the period shown in the bar chart:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Highest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">June 30, 2020</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">12.93%</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Lowest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">March 31, 2020</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">-15.61%</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Year to Date Most </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Recent Quarter:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">June 30, 2026</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">6.22%</span> <span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Highest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span> 2020-06-30 0.1293 <span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Lowest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span> 2020-03-31 -0.1561 <span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Year to Date Most </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Recent Quarter:</span> 2026-06-30 0.0622 <span style="font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Average Annual Total Returns</span><span style="font-family:Arial;font-size:10pt;"> (For the periods ended December 31, 2025)</span> 0.1440 0.0701 0.0810 0.1788 0.1442 0.1482 0.1462 0.0652 0.0806 <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Investment Objective</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund seeks long-term capital growth through investments in the stocks that are included in the Nasdaq-100</span><span style="color:#000000;font-family:Arial;font-size:6.5pt;position:relative;top:-3.25pt;">®</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Index (the “Index”).</span> <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Fees and Expenses of the Fund</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">This table describes the fees and expenses that you may pay if you buy, hold and sell shares of the Fund. </span><span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">The table </span><span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">and the example below do not reflect the separate account fees charged in the variable annuity or variable life insurance policy (“Variable Contracts”) in which the Fund is offered.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> If separate account fees were </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">shown, the Fund’s annual operating expenses would be higher. Please see your Variable Contract prospectus for </span><span style="color:#000000;font-family:Arial;font-size:10pt;">more details on the separate account fees.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;text-decoration:underline;">Annual Fund Operating Expenses</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> (expenses that you </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">pay each year as a percentage of the value of your </span><span style="color:#000000;font-family:Arial;font-size:10pt;">investment)</span> 0.0037 0.0013 0.0050 -0.0008 0.0042 <span style="font-family:Arial;font-size:8pt;">September 30, 2027</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-style:italic;font-weight:bold;text-decoration:underline;">Expense Example</span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem or hold all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same (except that the Example incorporates any applicable fee waiver and/or expense limitation arrangements for only the first year). The Example does not reflect charges imposed by the Variable Contract. If the </span><span style="font-family:Arial;font-size:10pt;">separate account fees were reflected, the </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">expenses would be higher. See the Variable Contract prospectus for information on such charges. Although your actual costs may be higher or lower, based on these assumptions and the net expenses shown in the fee table, </span><span style="color:#000000;font-family:Arial;font-size:10pt;">your costs would be:</span> 43 152 272 621 <span style="color:#000000;font-family:Arial;font-size:10pt;font-style:italic;font-weight:bold;text-decoration:underline;">Portfolio Turnover</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). These costs, which are not reflected in annual fund operating expenses or in the Example, affect the </span><span style="color:#000000;font-family:Arial;font-size:10pt;">Fund’s performance.</span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">During the most recent fiscal year, the Fund’s portfolio </span><span style="font-family:Arial;font-size:10pt;">turnover rate was </span><span style="font-family:Arial;font-size:10pt;">11%</span><span style="font-family:Arial;font-size:10pt;"> of the average value of its portfolio.</span> 0.11 <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Principal Investment Strategies of the Fund</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund invests in stocks that are included in the Index. The Index represents the largest and most active non-financial domestic and international securities listed on The NASDAQ Stock Market, based on market value (capitalization). This includes major industry groups, such as computer hardware and software, telecommunications, </span><span style="color:#000000;font-family:Arial;font-size:10pt;">retail and wholesale trade and biotechnology.</span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Subadviser invests, under normal circumstances, at least 80% of the Fund’s net assets in companies that are listed in the Index.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The Fund is managed to seek to track </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">the performance of the Index. </span><span style="color:#000000;font-family:Arial;font-size:10pt;">The Subadviser may </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">endeavor to track the Index by purchasing every stock included in the Index, in the same proportions; or, in the alternative, the Subadviser may invest in a sampling of Index stocks by utilizing a statistical technique known as “optimization.” The goal of optimization is to select stocks which ensure that various industry weightings, market capitalizations, and fundamental characteristics, (</span><span style="color:#000000;font-family:Arial;font-size:10pt;font-style:italic;">e.g.</span><span style="color:#000000;font-family:Arial;font-size:10pt;">, </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">price-to-book, price-to-earnings, debt-to-asset ratios and dividend yields) closely approximate those of the Index.</span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The subadviser may use derivatives to seek to track the performance of the Index, including futures and total </span><span style="color:#000000;font-family:Arial;font-size:10pt;">return swaps. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund may also invest in some futures contracts in order to help the Fund’s liquidity and to manage its cash position. If the market value of the futures contracts is close to the Fund’s cash balance, then that helps to minimize the tracking errors, while helping to maintain </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">liquidity. The Fund is a non-diversified fund, which means that it will invest in a smaller number of issuers than a </span><span style="color:#000000;font-family:Arial;font-size:10pt;">diversified fund. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund may concentrate its investments (invest more than 25% of its total assets) in the technology sector, in the proportion consistent with the industry weightings in the </span><span style="color:#000000;font-family:Arial;font-size:10pt;">Index. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">Although the Fund seeks to track the performance of the Index, the performance of the Fund will not match that of the Index exactly because, among other reasons, the Fund incurs operating expenses and other investment </span><span style="color:#000000;font-family:Arial;font-size:10pt;">overhead as part of its normal operations. </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">In order to generate additional income, the Fund may lend portfolio securities to broker-dealers and other financial institutions provided that the value of the loaned securities does not exceed 30% of the Fund’s total assets. These loans earn income for the Fund and are collateralized by cash and securities issued or guaranteed by the U.S. </span><span style="font-family:Arial;font-size:10pt;">Government or its agencies or instrumentalities.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund invests in stocks that are included in the Index. The Index represents the largest and most active non-financial domestic and international securities listed on The NASDAQ Stock Market, based on market value (capitalization). This includes major industry groups, such as computer hardware and software, telecommunications, </span><span style="color:#000000;font-family:Arial;font-size:10pt;">retail and wholesale trade and biotechnology.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Subadviser invests, under normal circumstances, at least 80% of the Fund’s net assets in companies that are listed in the Index.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;">The Subadviser may </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">endeavor to track the Index by purchasing every stock included in the Index, in the same proportions; or, in the alternative, the Subadviser may invest in a sampling of Index stocks by utilizing a statistical technique known as “optimization.” The goal of optimization is to select stocks which ensure that various industry weightings, market capitalizations, and fundamental characteristics, (</span><span style="color:#000000;font-family:Arial;font-size:10pt;font-style:italic;">e.g.</span><span style="color:#000000;font-family:Arial;font-size:10pt;">, </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">price-to-book, price-to-earnings, debt-to-asset ratios and dividend yields) closely approximate those of the Index.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;">Shares of the Fund are not bank deposits and </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">are not guaranteed or insured by any bank, government entity or the Federal Deposit Insurance Corporation.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;"> If the </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">value of the assets of the Fund goes down, you could lose </span><span style="color:#000000;font-family:Arial;font-size:10pt;">money.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Technology Sector Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Technology stocks historically </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">have experienced unusually wide price swings. Earnings disappointments and intense competition for market share can result in sharp declines in the prices of technology </span><span style="color:#000000;font-family:Arial;font-size:10pt;">stocks.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Equity Securities Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The Fund invests principally in </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">equity securities and is therefore subject to the risk that stock prices will fall and may underperform other asset classes. Individual stock prices fluctuate from day-to-day and may decline significantly. The prices of individual stocks may be negatively affected by poor company results or other factors affecting individual prices, as well as industry and/or economic trends and developments </span><span style="color:#000000;font-family:Arial;font-size:10pt;">affecting industries or the securities market as a whole.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Index Risk. </span><span style="color:#000000;font-family:Arial;font-size:10pt;">In attempting to track the performance of the </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">index, the Fund may be more susceptible to adverse </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">developments concerning a particular security, company or industry because the Fund generally will not use any </span><span style="color:#000000;font-family:Arial;font-size:10pt;">defensive strategies to mitigate its risk exposure.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Failure to Match Index Performance Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The ability of </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">the Fund to match the performance of the Index may be affected by, among other things, changes in securities markets, the manner in which performance of the Index is calculated, changes in the composition of the Index, the amount and timing of cash flows into and out of the Fund, commissions, portfolio expenses, and any differences in the pricing of securities by the Fund and the Index. When the Fund employs an “optimization” strategy, the Fund is subject to an increased risk of tracking error, in that the securities selected in the aggregate for the Fund may </span><span style="color:#000000;font-family:Arial;font-size:10pt;">perform differently than the Index.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Derivatives Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The prices of derivatives may move in </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">unexpected ways due to the use of leverage and other factors and may result in increased volatility or losses. The Fund may not be able to terminate or sell derivative positions, and a liquid secondary market may not always </span><span style="color:#000000;font-family:Arial;font-size:10pt;">exist for derivative positions.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Market Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The Fund’s share price can fall because of </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">weakness in the broad market, a particular industry, or specific holdings or due to adverse social, political or economic developments here or abroad, changes in investor psychology, technological disruptions, or heavy institutional selling and other conditions or events (including, for example, military confrontations, war, terrorism, trade wars, disease/virus outbreaks and epidemics). The prices of individual securities may fluctuate, sometimes dramatically, from day to day. The prices of stocks and other equity securities tend to be </span><span style="color:#000000;font-family:Arial;font-size:10pt;">more volatile than those of fixed-income securities.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Non-Diversification Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Because the Fund may invest </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">in a smaller number of issuers, its value may be affected to a greater extent by the performance of any one of those issuers or by any single economic, political, market or regulatory event affecting any one of those issues than a </span><span style="color:#000000;font-family:Arial;font-size:10pt;">fund that invests in a larger number of issuers.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Sector Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Companies with similar characteristics may </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">be grouped together in broad categories called sectors. Sector risk is the risk that securities of companies within specific sectors of the economy can perform differently than the overall market. This may be due to changes in such things as the regulatory or competitive environment or to changes in investor perceptions regarding a sector. Because the Fund may allocate relatively more assets to certain sectors than others, the Fund’s performance may be more susceptible to any developments which affect </span><span style="color:#000000;font-family:Arial;font-size:10pt;">those sectors emphasized by the Fund.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Securities Lending Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Engaging in securities lending </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">could increase the market and credit risk for Fund investments. The Fund may lose money if it does not recover borrowed securities, the value of the collateral falls, or the value of investments made with cash collateral declines. The Fund’s loans will be collateralized by securities issued or guaranteed by the U.S. Government or its agencies and instrumentalities, which subjects the Fund to the credit risk of the U.S. Government or the issuing federal agency or instrumentality. If the value of either the cash collateral or the Fund’s investments of the cash collateral falls below the amount owed to a borrower, the Fund also may incur losses that exceed the amount it earned on lending the security. Securities lending also involves the risks of delay in receiving additional collateral or possible loss of rights in the collateral if the borrower fails. Another risk of securities lending is the risk that the loaned portfolio securities may not be available to the Fund on a timely basis and the Fund may therefore lose </span><span style="color:#000000;font-family:Arial;font-size:10pt;">the opportunity to sell the securities at a desirable price.</span> <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Performance Information</span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">The below bar chart and table illustrate the risks of investing in the Fund by showing changes in the Fund’s performance from calendar year to calendar year and comparing the Fund’s average annual returns to those of the S&amp;P 500</span><span style="font-family:Arial;font-size:6.5pt;position:relative;top:-3.25pt;">®</span><span style="font-family:Arial;font-size:10pt;"> Index (a broad-based securities market </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">index) and the Nasdaq-100</span><span style="font-family:Arial;font-size:6.5pt;position:relative;top:-3.25pt;">®</span><span style="font-family:Arial;font-size:10pt;"> Index, which is relevant to </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">the Fund because it has characteristics similar to the Fund’s investment strategies.</span><span style="font-family:Arial;font-size:10pt;"> Fees and expenses </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">incurred at the contract level are not reflected in the bar chart or table. If these amounts were reflected, returns would be less than those shown. </span><span style="font-family:Arial;font-size:10pt;">Of course, past </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">performance of the Fund is not necessarily an indication </span><span style="font-family:Arial;font-size:10pt;">of how the Fund will perform in the future.</span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">BlackRock Investment Management, LLC (“BlackRock”) assumed sub‑advisory responsibilities on April 30, 2025. Prior to this time, the Fund was subadvised by </span><span style="color:#000000;font-family:Arial;font-size:10pt;">SunAmerica Asset Management, LLC. </span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">The below bar chart and table illustrate the risks of investing in the Fund by showing changes in the Fund’s performance from calendar year to calendar year and comparing the Fund’s average annual returns to those of the S&amp;P 500</span><span style="font-family:Arial;font-size:6.5pt;position:relative;top:-3.25pt;">®</span><span style="font-family:Arial;font-size:10pt;"> Index (a broad-based securities market </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">index) and the Nasdaq-100</span><span style="font-family:Arial;font-size:6.5pt;position:relative;top:-3.25pt;">®</span><span style="font-family:Arial;font-size:10pt;"> Index, which is relevant to </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">the Fund because it has characteristics similar to the Fund’s investment strategies.</span> <span style="font-family:Arial;font-size:10pt;"> Fees and expenses </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">incurred at the contract level are not reflected in the bar chart or table. If these amounts were reflected, returns would be less than those shown. </span> <span style="font-family:Arial;font-size:10pt;">Of course, past </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">performance of the Fund is not necessarily an indication </span><span style="font-family:Arial;font-size:10pt;">of how the Fund will perform in the future.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;">During the period shown in the bar chart:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Highest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">June 30, 2020</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">30.12%</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Lowest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">June 30, 2022</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">-22.47%</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Year to Date Most </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Recent Quarter:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">June 30, 2026</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">20.07%</span> <span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Highest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span> 2020-06-30 0.3012 <span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Lowest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span> 2022-06-30 -0.2247 <span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Year to Date Most </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Recent Quarter:</span> 2026-06-30 0.2007 <span style="font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Average Annual Total Returns</span><span style="font-family:Arial;font-size:10pt;"> (For the periods ended December 31, 2025)</span> 0.2042 0.1473 0.1906 0.1788 0.1442 0.1482 0.2102 0.1530 0.1970 <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Investment Objective</span> <span style="color:#000000;font-family:Arial;font-size:10pt;">The Fund seeks long-term capital appreciation.</span> <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Fees and Expenses of the Fund</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">This table describes the fees and expenses that you may pay if you buy, hold and sell shares of the Fund. </span><span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">The table </span><span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">and the example below do not reflect the separate account fees charged in the variable annuity or variable life insurance policy (“Variable Contracts”) in which the Fund is offered.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> If separate account fees were </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">shown, the Fund’s annual operating expenses would be higher. Please see your Variable Contract prospectus for </span><span style="color:#000000;font-family:Arial;font-size:10pt;">more details on the separate account fees.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;text-decoration:underline;">Annual Fund Operating Expenses</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> (expenses that you </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">pay each year as a percentage of the value of your </span><span style="color:#000000;font-family:Arial;font-size:10pt;">investment)</span> 0.0086 0.0009 0.0001 0.0096 -0.0005 0.0091 <span style="color:#000000;font-family:Arial;font-size:8pt;">The Total Annual Fund Operating Expenses for the Fund do not correlate to the ratio of net expenses to average net assets provided in the Financial Highlights table of the Fund’s annual report, which reflects the net operating expenses of the Fund and does not include Acquired Fund Fees and Expenses.</span> <span style="font-family:Arial;font-size:8pt;">September 30, 2027</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-style:italic;font-weight:bold;text-decoration:underline;">Expense Example</span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem or hold all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same (except that the Example incorporates any applicable fee waiver and/or expense limitation arrangements for only the first year). The Example does not reflect charges imposed by the Variable Contract. If the </span><span style="font-family:Arial;font-size:10pt;">separate account fees were reflected, the </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">expenses would be higher. See the Variable Contract prospectus for information on such charges. Although your actual costs may be higher or lower, based on these assumptions and the net expenses shown in the fee table, </span><span style="color:#000000;font-family:Arial;font-size:10pt;">your costs would be:</span> 93 301 526 1173 <span style="color:#000000;font-family:Arial;font-size:10pt;font-style:italic;font-weight:bold;text-decoration:underline;">Portfolio Turnover</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). These costs, which are not reflected in annual fund operating expenses or in the Example, affect the </span><span style="color:#000000;font-family:Arial;font-size:10pt;">Fund’s performance.</span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">During the most recent fiscal year, the Fund’s portfolio </span><span style="font-family:Arial;font-size:10pt;">turnover rate was </span><span style="font-family:Arial;font-size:10pt;">45%</span><span style="font-family:Arial;font-size:10pt;"> of the average value of its portfolio.</span> 0.45 <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Principal Investment Strategies of the Fund</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund invests, under normal circumstances, at least 80% of net assets in the common stocks of companies that are expected to benefit from the development, </span><span style="color:#000000;font-family:Arial;font-size:10pt;">advancement, and use of science and/or technology.</span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">Investments may also include companies that should benefit from technological advances even if they are not directly involved in research and development.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The Fund </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">may invest in suitable technology companies through initial public offerings (“IPOs”), and a portion of the Fund’s returns may be attributable to the Fund’s investments in IPOs. There is no guarantee that as the Fund’s assets grow it will be able to experience significant improvement </span><span style="color:#000000;font-family:Arial;font-size:10pt;">in performance by investing in IPOs. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund may invest up to 50% of its total assets in foreign securities, which include non-dollar denominated securities traded outside the U.S. In addition, the Fund has the ability to invest up to 30% of its total assets in companies organized or headquartered in emerging market countries, but no more than 20% of its total assets may be invested in any one emerging market country. The </span><span style="color:#000000;font-family:Arial;font-size:10pt;">Fund may also invest in privately placed securities. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund is a non-diversified fund, which means that it may invest in a smaller number of issuers than a </span><span style="color:#000000;font-family:Arial;font-size:10pt;">diversified fund. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Subadvisers may engage in frequent and active trading of portfolio securities to achieve the Fund’s </span><span style="color:#000000;font-family:Arial;font-size:10pt;">investment objective. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">In order to generate additional income, the Fund may lend portfolio securities to broker-dealers and other financial institutions provided that the value of the loaned securities </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">does not exceed 30% of the Fund’s total assets. These loans earn income for the Fund and are collateralized by cash and securities issued or guaranteed by the U.S. </span><span style="font-family:Arial;font-size:10pt;">Government or its agencies or instrumentalities.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund invests, under normal circumstances, at least 80% of net assets in the common stocks of companies that are expected to benefit from the development, </span><span style="color:#000000;font-family:Arial;font-size:10pt;">advancement, and use of science and/or technology.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund invests, under normal circumstances, at least 80% of net assets in the common stocks of companies that are expected to benefit from the development, </span><span style="color:#000000;font-family:Arial;font-size:10pt;">advancement, and use of science and/or technology.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">Investments may also include companies that should benefit from technological advances even if they are not directly involved in research and development.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;">Shares of the Fund are not bank deposits and </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">are not guaranteed or insured by any bank, government entity or the Federal Deposit Insurance Corporation.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;"> If the </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">value of the assets of the Fund goes down, you could lose </span><span style="color:#000000;font-family:Arial;font-size:10pt;">money.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Management Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The investment style or strategy used </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">by a subadviser may fail to produce the intended result. A subadviser’s assessment of a particular security or company may prove incorrect, resulting in losses or </span><span style="color:#000000;font-family:Arial;font-size:10pt;">underperformance.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Technology Sector Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Technology stocks historically </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">have experienced unusually wide price swings. Earnings disappointments and intense competition for market share can result in sharp declines in the prices of technology </span><span style="color:#000000;font-family:Arial;font-size:10pt;">stocks.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Dividend-paying Stocks Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> There is no guarantee </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">that the issuers of the stocks held by the Fund will declare dividends in the future or that, if dividends are declared, they will remain at their current levels or increase over time. Dividend-paying stocks may not participate in a broad market advance to the same degree as other stocks, and a sharp rise in interest rates or economic downturn could cause a company to unexpectedly reduce </span><span style="color:#000000;font-family:Arial;font-size:10pt;">or eliminate its dividend.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Equity Securities Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The Fund invests principally in </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">equity securities and is therefore subject to the risk that stock prices will fall and may underperform other asset classes. Individual stock prices fluctuate from day-to-day and may decline significantly. The prices of individual stocks may be negatively affected by poor company results or other factors affecting individual prices, as well as industry and/or economic trends and developments </span><span style="color:#000000;font-family:Arial;font-size:10pt;">affecting industries or the securities market as a whole.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Emerging Markets Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> In addition to the risks </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">associated with investments in foreign securities, emerging market securities are subject to additional risks, which cause these securities generally to be more volatile </span><span style="color:#000000;font-family:Arial;font-size:10pt;">than securities of issuers located in developed countries.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Currency Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Because the Fund’s foreign investments </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">are generally held in foreign currencies, the Fund could experience gains or losses based solely on changes in the exchange rate between foreign currencies and the U.S. </span><span style="color:#000000;font-family:Arial;font-size:10pt;">dollar. Such gains or losses may be substantial.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Foreign Investment Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Investment in foreign </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">securities involves risks due to several factors, such as illiquidity, the lack of public information, changes in the exchange rates between foreign currencies and the U.S. dollar, unfavorable political, social and legal developments, or economic and financial instability. Foreign companies are not subject to the U.S. accounting and financial reporting standards and may have riskier settlement procedures. U.S. investments that are denominated in foreign currencies or that are traded in foreign markets, or securities of U.S. companies that have significant foreign operations may be subject to foreign </span><span style="color:#000000;font-family:Arial;font-size:10pt;">investment risk.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Geographic Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> If the Fund invests a significant portion </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">of its assets in issuers located in a single country, a limited number of countries, or a particular geographic region, it assumes the risk that economic, political and social conditions in those countries or that region may have a </span><span style="color:#000000;font-family:Arial;font-size:10pt;">significant impact on its investment performance.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">IPO Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> A Fund’s purchase of shares issued as part of, </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">or a short period after a company’s initial public offering (“IPO”) exposes it to risks associated with companies that have little operating history as public companies, as well as to the risks inherent in those sectors of the market where these new issuers operate. The market for IPO issuers has been volatile, and share prices of newly-public companies have fluctuated in significant amounts over </span><span style="color:#000000;font-family:Arial;font-size:10pt;">short periods of time.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Market Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The Fund’s share price can fall because of </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">weakness in the broad market, a particular industry, or specific holdings or due to adverse social, political or economic developments here or abroad, changes in investor psychology, technological disruptions, or heavy institutional selling and other conditions or events (including, for example, military confrontations, war, terrorism, trade wars, disease/virus outbreaks and epidemics). The prices of individual securities may fluctuate, sometimes dramatically, from day to day. The prices of stocks and other equity securities tend to be </span><span style="color:#000000;font-family:Arial;font-size:10pt;">more volatile than those of fixed-income securities.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Non-Diversification Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Because the Fund may invest </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">in a smaller number of issuers, its value may be affected to a greater extent by the performance of any one of those issuers or by any single economic, political, market or regulatory event affecting any one of those issues than a </span><span style="color:#000000;font-family:Arial;font-size:10pt;">fund that invests in a larger number of issuers.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Sector Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Companies with similar characteristics may </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">be grouped together in broad categories called sectors. Sector risk is the risk that securities of companies within specific sectors of the economy can perform differently than the overall market. This may be due to changes in such things as the regulatory or competitive environment or to changes in investor perceptions regarding a sector. Because the Fund may allocate relatively more assets to certain sectors than others, the Fund’s performance may be more susceptible to any developments which affect </span><span style="color:#000000;font-family:Arial;font-size:10pt;">those sectors emphasized by the Fund.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Securities Lending Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Engaging in securities lending </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">could increase the market and credit risk for Fund investments. The Fund may lose money if it does not recover borrowed securities, the value of the collateral falls, or the value of investments made with cash collateral declines. The Fund’s loans will be collateralized by securities issued or guaranteed by the U.S. Government or its agencies and instrumentalities, which subjects the Fund to the credit risk of the U.S. Government or the issuing federal agency or instrumentality. If the value of either the cash collateral or the Fund’s investments of the cash collateral falls below the amount owed to a borrower, the Fund also may incur losses that exceed the amount it earned on lending the security. Securities lending also involves the risks of delay in receiving additional collateral or possible loss of rights in the collateral if the borrower fails. Another risk of securities lending is the risk that the loaned portfolio securities may not be available to the Fund on a timely basis and the Fund may therefore lose </span><span style="color:#000000;font-family:Arial;font-size:10pt;">the opportunity to sell the securities at a desirable price.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Privately Placed Securities Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The Fund’s </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">investments may also include privately placed securities, which are subject to resale restrictions. These securities will have the effect of increasing the level of Fund illiquidity to the extent the Fund may be unable to sell or transfer these securities due to restrictions on transfers or on the ability to find buyers interested in purchasing the securities. The illiquidity of the market, as well as the lack of publicly available information regarding these securities, may also adversely affect the ability to arrive at a fair value for certain securities at certain times and could </span><span style="color:#000000;font-family:Arial;font-size:10pt;">make it difficult for the Fund to sell certain securities.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Mid-Cap Company Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Investing in mid-cap companies </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">carries the risk that due to current market conditions these companies may be out of favor with investors. Stocks of mid-cap companies may be more volatile than those of larger companies due to, among other reasons, narrower product lines, more limited financial resources and fewer </span><span style="color:#000000;font-family:Arial;font-size:10pt;">experienced managers.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Small-Cap Company Risk. </span><span style="color:#000000;font-family:Arial;font-size:10pt;">Investing in small-cap </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">companies carries the risk that due to current market conditions these companies may be out of favor with investors. Small companies often are in the early stages of development with limited product lines, markets, or financial resources and managements lacking depth and experience, which may cause their stock prices to be more volatile than those of larger companies. Small company stocks may be less liquid yet subject to abrupt or erratic price movements. It may take a substantial period of time before the Fund realizes a gain on an investment in a </span><span style="color:#000000;font-family:Arial;font-size:10pt;">small-cap company, if it realizes any gain at all.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Active Trading Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> High portfolio turnover rates that </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">are associated with active trading may result in higher transaction costs, which can adversely affect the Fund’s performance. Active trading tends to be more pronounced </span><span style="color:#000000;font-family:Arial;font-size:10pt;">during periods of increased market volatility.</span> <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Performance Information</span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">The below bar chart and table illustrate the risks of investing in the Fund by showing changes in the Fund’s performance from calendar year to calendar year and comparing the Fund’s average annual returns to those of the S&amp;P 500</span><span style="font-family:Arial;font-size:6.5pt;position:relative;top:-3.25pt;">®</span><span style="font-family:Arial;font-size:10pt;"> Index (a broad-based securities market </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">index) and the S&amp;P</span><span style="font-family:Arial;font-size:6.5pt;position:relative;top:-3.25pt;">®</span><span style="font-family:Arial;font-size:10pt;"> North American Technology Sector </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">Index, which is relevant to the Fund because it has characteristics similar to the Fund’s investment strategies.</span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">Fees and expenses incurred at the contract level are not reflected in the bar chart or table. If these amounts were reflected, returns would be less than those shown. </span><span style="font-family:Arial;font-size:10pt;">Of </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">course, past performance of the Fund is not necessarily </span><span style="font-family:Arial;font-size:10pt;">an indication of how the Fund will perform in the future.</span><span style="font-family:Arial;font-size:10pt;">Wellington Management Company LLP, which served as subadviser to the Fund since January 29, 2007, was </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">terminated as a </span><span style="font-family:Arial;font-size:10pt;">subadviser to the Fund effective </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">September 30, 2024. Effective May 1, 2023, BlackRock Investment Management, LLC (“BlackRock”) was engaged as a subadviser to the Fund, replacing T. Rowe Price Associates, Inc., which had served as subadviser since the Fund’s inception. Effective July 22, 2022, Voya Investment Management Co. LLC (“Voya IM”) was engaged as a </span><span style="font-family:Arial;font-size:10pt;">subadviser to the Fund, replacing Allianz </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">Global Investors U.S. LLC, which had served as </span><span style="font-family:Arial;font-size:10pt;">subadviser to the Fund since September 19, 2005.</span> <br/><span style="font-family:Arial;font-size:10pt;margin-left:0%;">The percentage of the Fund’s assets that each subadviser manages may, at the adviser’s discretion, change from </span><span style="font-family:Arial;font-size:10pt;">time to time. </span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">The below bar chart and table illustrate the risks of investing in the Fund by showing changes in the Fund’s performance from calendar year to calendar year and comparing the Fund’s average annual returns to those of the S&amp;P 500</span><span style="font-family:Arial;font-size:6.5pt;position:relative;top:-3.25pt;">®</span><span style="font-family:Arial;font-size:10pt;"> Index (a broad-based securities market </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">index) and the S&amp;P</span><span style="font-family:Arial;font-size:6.5pt;position:relative;top:-3.25pt;">®</span><span style="font-family:Arial;font-size:10pt;"> North American Technology Sector </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">Index, which is relevant to the Fund because it has characteristics similar to the Fund’s investment strategies.</span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">Fees and expenses incurred at the contract level are not reflected in the bar chart or table. If these amounts were reflected, returns would be less than those shown. </span> <span style="font-family:Arial;font-size:10pt;">Of </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">course, past performance of the Fund is not necessarily </span><span style="font-family:Arial;font-size:10pt;">an indication of how the Fund will perform in the future.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;">During the period shown in the bar chart:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Highest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">June 30, 2020</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">34.34%</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Lowest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">June 30, 2022</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">-24.02%</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Year to Date Most </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Recent Quarter:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">June 30, 2026</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">33.88%</span> <span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Highest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span> 2020-06-30 0.3434 <span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Lowest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span> 2022-06-30 -0.2402 <span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Year to Date Most </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Recent Quarter:</span> 2026-06-30 0.3388 <span style="font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Average Annual Total Returns</span><span style="font-family:Arial;font-size:10pt;"> (For the periods ended December 31, 2025)</span> 0.2257 0.1159 0.1892 0.1788 0.1442 0.1482 0.2782 0.1802 0.2254 <span style="font-family:Arial;font-size:12pt;font-weight:bold;">Investment Objective</span> <span style="font-family:Arial;font-size:10pt;">The Fund seeks to achieve capital appreciation. </span> <span style="font-family:Arial;font-size:12pt;font-weight:bold;">Fees and Expenses of the Fund</span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">This table describes the fees and expenses that you may pay if you buy, hold and sell shares of the Fund. </span><span style="font-family:Arial;font-size:10pt;font-weight:bold;">The table </span><span style="font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">and the example below do not reflect the separate account fees charged in the variable annuity or variable life insurance policy (“Variable Contracts”) in which the Fund is offered.</span><span style="font-family:Arial;font-size:10pt;"> If separate account fees were </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">shown, the Fund’s annual operating expenses would be higher. Please see your Variable Contract prospectus for </span><span style="font-family:Arial;font-size:10pt;">more details on the separate account fees.</span> <span style="font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;text-decoration:underline;">Annual Fund Operating Expenses</span><span style="font-family:Arial;font-size:10pt;"> (expenses that you </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">pay each year as a percentage of the value of your </span><span style="font-family:Arial;font-size:10pt;">investment)</span> 0.0075 0.0019 0.0094 -0.0011 0.0083 <span style="font-family:Arial;font-size:8pt;">September 30, 2027</span> <span style="font-family:Arial;font-size:10pt;font-style:italic;font-weight:bold;text-decoration:underline;">Expense Example</span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem or hold all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same (except that the Example incorporates any applicable fee waiver and/or expense limitation arrangements for only the first year). The Example does not reflect charges imposed by the Variable Contract. If the separate account fees were reflected, the expenses would be higher. See the Variable Contract prospectus for information on such charges. Although your actual costs may be higher or lower, based on these assumptions and the net expenses shown in the fee table, </span><span style="font-family:Arial;font-size:10pt;">your costs would be:</span> 85 289 509 1145 <span style="font-family:Arial;font-size:10pt;font-style:italic;font-weight:bold;text-decoration:underline;">Portfolio Turnover</span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). These costs, which are not reflected in annual fund operating expenses or in the Example, affect the </span><span style="font-family:Arial;font-size:10pt;">Fund’s performance.</span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">During the most recent fiscal year, the Fund’s portfolio turnover rate was </span><span style="font-family:Arial;font-size:10pt;">124%</span><span style="font-family:Arial;font-size:10pt;"> of the average value of its </span><span style="font-family:Arial;font-size:10pt;">portfolio.</span> 1.24 <span style="font-family:Arial;font-size:12pt;font-weight:bold;">Principal Investment Strategies of the Fund</span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">Under normal market conditions, the Fund will invest at least 80% of its net assets in securities of “small-cap” companies, and in derivatives and other instruments that have economic characteristics similar to such securities.</span><span style="font-family:Arial;font-size:10pt;">The Fund considers a small-cap company to be </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">one whose market capitalization, at the time of purchase, is equal to or less than the market capitalization of the largest company in the Russell 2000® Index during the most recent 12-month period.</span><span style="font-family:Arial;font-size:10pt;"> As of August 31, 2026, the </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">median stock by market capitalization in the Index was approximately $1.142 million, and the largest stock was approximately $12.124 billion. The size of the companies in the Index changes with market conditions and the </span><span style="font-family:Arial;font-size:10pt;">composition of the Index. </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">The Fund primarily invests in common stock but may also invest in other types of securities such as real estate investment trusts (“REITs”). The Subadviser uses fundamental research to select securities for the Fund’s portfolio. While the process may change over time or vary in particular cases, in general the selection process currently uses a fundamental approach in analyzing issuers on factors such as a company’s financial performance, competitive strength and prospects, industry position, and business model and management strength. Industry outlook, market trends and general </span><span style="font-family:Arial;font-size:10pt;">economic conditions may also be considered. </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">The Fund aims to maintain a broad diversification across all major economic sectors. In constructing the portfolio, the Fund seeks to limit exposure to so-called “top-down” or “macro” risks, such as overall stock market movements, economic cycles, and interest rate or currency fluctuations. Instead, the Subadviser seeks to add value by selecting individual securities that it believes have superior company specific fundamental attributes or relative valuations that it expects to outperform their </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">industry and sector peers. This is commonly referred to as </span><span style="font-family:Arial;font-size:10pt;">a “bottom-up” approach to portfolio construction. </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">The Subadviser considers, among other things, stock rankings, benchmark weightings and capitalization outlooks in determining security weightings for individual </span><span style="font-family:Arial;font-size:10pt;">issuers. </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">The Subadviser might sell a security if, among other things, the price is approaching its price target, if the company’s competitive position has deteriorated or the company’s management has performed poorly, or if the Subadviser has identified more attractive investment </span><span style="font-family:Arial;font-size:10pt;">prospects. </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">In order to generate additional income, the Fund may lend portfolio securities to broker-dealers and other financial institutions provided that the value of the loaned securities does not exceed 30% of the Fund’s total assets. These loans earn income for the Fund and are collateralized by cash and securities issued or guaranteed by the U.S. </span><span style="font-family:Arial;font-size:10pt;">Government or its agencies or instrumentalities.</span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">Under normal market conditions, the Fund will invest at least 80% of its net assets in securities of “small-cap” companies, and in derivatives and other instruments that have economic characteristics similar to such securities.</span> <span style="font-family:Arial;font-size:10pt;">The Fund considers a small-cap company to be </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">one whose market capitalization, at the time of purchase, is equal to or less than the market capitalization of the largest company in the Russell 2000® Index during the most recent 12-month period.</span> <span style="font-family:Arial;font-size:10pt;">Shares of the Fund are not bank deposits and </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">are not guaranteed or insured by any bank, government entity or the Federal Deposit Insurance Corporation.</span> <span style="font-family:Arial;font-size:10pt;"> If the </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">value of the assets of the Fund goes down, you could lose </span><span style="font-family:Arial;font-size:10pt;">money.</span> <span style="font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Management Risk.</span><span style="font-family:Arial;font-size:10pt;"> The investment style or strategy used </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">by a subadviser may fail to produce the intended result. A subadviser’s assessment of a particular security or company may prove incorrect, resulting in losses or </span><span style="font-family:Arial;font-size:10pt;">underperformance.</span> <span style="font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Equity Securities Risk.</span><span style="font-family:Arial;font-size:10pt;"> The Fund invests principally in </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">equity securities and is therefore subject to the risk that stock prices will fall and may underperform other asset classes. Individual stock prices fluctuate from day-to-day and may decline significantly. The prices of individual stocks may be negatively affected by poor company results or other factors affecting individual prices, as well as industry and/or economic trends and developments </span><span style="font-family:Arial;font-size:10pt;">affecting industries or the securities market as a whole.</span> <span style="font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Small-Cap Company Risk. </span><span style="font-family:Arial;font-size:10pt;">Investing in small-cap </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">companies carries the risk that due to current market </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">conditions these companies may be out of favor with investors. Small companies often are in the early stages of development with limited product lines, markets, or financial resources and managements lacking depth and experience, which may cause their stock prices to be more volatile than those of larger companies. Small company stocks may be less liquid yet subject to abrupt or erratic price movements. It may take a substantial period of time before the Fund realizes a gain on an investment in a </span><span style="font-family:Arial;font-size:10pt;">small-cap company, if it realizes any gain at all.</span> <span style="font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Real Estate Investment Trusts Risk. </span><span style="font-family:Arial;font-size:10pt;">REITs are trusts </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">that invest primarily in commercial real estate, residential real estate or real estate related loans. The value of an interest in a REIT may be affected by the value and the cash flows of the properties owned or the quality of the mortgages held by the REIT. The performance of a REIT depends on current economic conditions and the types of real property in which it invests and how well the property is managed. If a REIT concentrates its investments in a geographic region or property type, changes in underlying real estate values may have an exaggerated effect on the </span><span style="font-family:Arial;font-size:10pt;">value of the REIT.</span> <span style="font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Market Risk.</span><span style="font-family:Arial;font-size:10pt;"> The Fund’s share price can fall because of </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">weakness in the broad market, a particular industry, or specific holdings or due to adverse social, political or economic developments here or abroad, changes in investor psychology, technological disruptions, or heavy institutional selling and other conditions or events (including, for example, military confrontations, war, terrorism, trade wars, disease/virus outbreaks and epidemics). The prices of individual securities may fluctuate, sometimes dramatically, from day to day. The prices of stocks and other equity securities tend to be </span><span style="font-family:Arial;font-size:10pt;">more volatile than those of fixed-income securities.</span> <span style="font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Securities Lending Risk.</span><span style="font-family:Arial;font-size:10pt;"> Engaging in securities lending </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">could increase the market and credit risk for Fund investments. The Fund may lose money if it does not recover borrowed securities, the value of the collateral falls, or the value of investments made with cash collateral declines. The Fund’s loans will be collateralized by securities issued or guaranteed by the U.S. Government or its agencies and instrumentalities, which subjects the Fund to the credit risk of the U.S. Government or the issuing federal agency or instrumentality. If the value of either the cash collateral or the Fund’s investments of the cash collateral falls below the amount owed to a borrower, the Fund also may incur losses that exceed the amount it earned on lending the security. Securities lending also involves the risks of delay in receiving additional collateral or possible loss of rights in the collateral if the borrower fails. Another risk of securities lending is the risk that the </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">loaned portfolio securities may not be available to the Fund on a timely basis and the Fund may therefore lose </span><span style="font-family:Arial;font-size:10pt;">the opportunity to sell the securities at a desirable price.</span> <span style="font-family:Arial;font-size:12pt;font-weight:bold;">Performance Information</span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">The below bar chart and table illustrate the risks of investing in the Fund by showing changes in the Fund’s performance from calendar year to calendar year and comparing the Fund’s average annual returns to those of the Russell 3000® Index (a broad-based securities market index), the Russell 2000® Index, and the Russell 2000® Value Index. </span><span style="font-family:Arial;font-size:10pt;">Effective April 30, 2026, the Fund changed its </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">benchmark index from the Russell 2000® Value Index to the Russell 2000® Index, which is relevant to the Fund because it has characteristics similar to the Fund’s investment strategies.</span><span style="font-family:Arial;font-size:10pt;"> Fund management believes that </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">the Russell 2000® Index is more representative of the securities in which the Fund invests. The Fund’s returns prior to April 30, 2026, as reflected in the bar chart and table, are the returns of the Fund when it followed a different investment objective and different investment strategies under the name, “Small Cap Special Values Fund.” </span><span style="font-family:Arial;font-size:10pt;">Fees and expenses incurred at the contract level </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">are not reflected in the bar chart or table. If these amounts were reflected, returns would be less than those shown. </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">Of course, past performance of the Fund is not </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">necessarily an indication of how the Fund will perform in </span><span style="font-family:Arial;font-size:10pt;">the future.</span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">Since the Fund’s inception, Wells Capital Management Incorporated (“WellsCap”) served as the Fund’s subadviser. In the fourth quarter of 2021, WellsCap changed its name to Allspring Global Investments, LLC (“Allspring”). Beginning December 7, 2015, Allspring (formerly WellsCap) served as the Fund’s sole subadviser. Effective April 30, 2026, Invesco Advisers, Inc. (“Invesco”) </span><span style="font-family:Arial;font-size:10pt;">replaced Allspring as the Fund’s subadviser. </span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">The below bar chart and table illustrate the risks of investing in the Fund by showing changes in the Fund’s performance from calendar year to calendar year and comparing the Fund’s average annual returns to those of the Russell 3000® Index (a broad-based securities market index), the Russell 2000® Index, and the Russell 2000® Value Index. </span><span style="font-family:Arial;font-size:10pt;">Effective April 30, 2026, the Fund changed its </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">benchmark index from the Russell 2000® Value Index to the Russell 2000® Index, which is relevant to the Fund because it has characteristics similar to the Fund’s investment strategies.</span> <span style="font-family:Arial;font-size:10pt;">Effective April 30, 2026, the Fund changed its </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">benchmark index from the Russell 2000® Value Index to the Russell 2000® Index, which is relevant to the Fund because it has characteristics similar to the Fund’s investment strategies.</span> <span style="font-family:Arial;font-size:10pt;">Fees and expenses incurred at the contract level </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">are not reflected in the bar chart or table. If these amounts were reflected, returns would be less than those shown. </span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">Of course, past performance of the Fund is not </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">necessarily an indication of how the Fund will perform in </span><span style="font-family:Arial;font-size:10pt;">the future.</span> <span style="font-family:Arial;font-size:10pt;">During the period shown in the bar chart:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Highest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">December 31, 2020</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">28.56%</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Lowest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">March 31, 2020</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">-33.63%</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Year to Date Most </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Recent Quarter:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">June 30, 2026</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">17.91%</span> <span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Highest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span> 2020-12-31 0.2856 <span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Lowest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span> 2020-03-31 -0.3363 <span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Year to Date Most </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Recent Quarter:</span> 2026-06-30 0.1791 <span style="font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Average Annual Total Returns</span><span style="font-family:Arial;font-size:10pt;"> (For the periods ended December 31, 2025)</span> -0.0303 0.0657 0.0839 0.1715 0.1315 0.1429 0.1281 0.0609 0.0962 0.1259 0.0888 0.0927 <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Investment Objective</span> <span style="color:#000000;font-family:Arial;font-size:10pt;">The Fund seeks to provide long-term capital growth.</span> <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Fees and Expenses of the Fund</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">This table describes the fees and expenses that you may pay if you buy, hold and sell shares of the Fund. </span><span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">The table </span><span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">and the example below do not reflect the separate account fees charged in the variable annuity or variable life insurance policy (“Variable Contracts”) in which the Fund is offered.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> If separate account fees were </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">shown, the Fund’s annual operating expenses would be higher. Please see your Variable Contract prospectus for </span><span style="color:#000000;font-family:Arial;font-size:10pt;">more details on the separate account fees.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;text-decoration:underline;">Annual Fund Operating Expenses</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> (expenses that you </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">pay each year as a percentage of the value of your </span><span style="color:#000000;font-family:Arial;font-size:10pt;">investment)</span> 0.0081 0.0012 0.0093 -0.0005 0.0088 <span style="font-family:Arial;font-size:8pt;">September 30, 2027</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-style:italic;font-weight:bold;text-decoration:underline;">Expense Example</span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem or hold all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same (except that the Example incorporates any applicable fee waiver and/or expense limitation arrangements for only the first year). The Example does not reflect charges imposed by the Variable Contract. If the </span><span style="font-family:Arial;font-size:10pt;">separate account fees were reflected, the </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">expenses would be higher. See the Variable Contract prospectus for information on such charges. Although your actual costs may be higher or lower, based on these assumptions and the net expenses shown in the fee table, </span><span style="font-family:Arial;font-size:10pt;">your costs would be:</span> 90 291 510 1138 <span style="color:#000000;font-family:Arial;font-size:10pt;font-style:italic;font-weight:bold;text-decoration:underline;">Portfolio Turnover</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). These costs, which are not reflected in annual fund operating expenses or in the Example, affect the </span><span style="color:#000000;font-family:Arial;font-size:10pt;">Fund’s performance.</span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">During the most recent fiscal year, the Fund’s portfolio </span><span style="font-family:Arial;font-size:10pt;">turnover rate was </span><span style="font-family:Arial;font-size:10pt;">99%</span><span style="font-family:Arial;font-size:10pt;"> of the average value of its portfolio.</span> 0.99 <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Principal Investment Strategies of the Fund</span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">Under normal market conditions, the Fund invests at least 80% of </span><span style="font-family:Arial;font-size:10pt;">its net assets in securities of small-cap growth </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">companies.</span><span style="font-family:Arial;font-size:10pt;">The Fund invests primarily in equity securities. </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">For purposes of the Fund’s 80% investment policy, a company is considered to be a growth company if it: (i)</span><span style="font-family:Arial;font-size:10pt;"> issues securities that are represented in a third-party </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">growth-style index or that are classified as a growth company by a third-party vendor; or (ii)</span><span style="font-family:Arial;font-size:10pt;"> meets a relevant </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">equity market measurement in at least one “growth metric” similar to those commonly used by third-party index providers or third-party vendors in growth classifications, such as earnings growth, price-to-earnings or sales growth, among others.</span><span style="font-family:Arial;font-size:10pt;">Within the universe of growth </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">companies, the </span><span style="font-family:Arial;font-size:10pt;">Fund typically invests in securities of </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">companies with a history of above-average growth in revenues, earnings, cash flows, and/or margin relative to peers, benchmarks, or consensus expectations, as well </span><span style="font-family:Arial;font-size:10pt;">as companies expected to have above-average growth. </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">A company will be considered a small-cap company if its market capitalization, at the time of purchase, is equal to or less than the largest company in the Russell 2000</span><span style="font-family:Arial;font-size:6.5pt;position:relative;top:-3.25pt;">® </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">Index during the most recent 12-month period.</span><span style="font-family:Arial;font-size:10pt;"> As of August 31, 2026, the median stock by market </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">capitalization in the Index was approximately $</span><span style="font-family:Arial;font-size:10pt;">1.142</span><span style="font-family:Arial;font-size:10pt;line-height:12pt;"> </span><span style="font-family:Arial;font-size:10pt;">million, and the largest stock was approximately </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">$</span><span style="font-family:Arial;font-size:10pt;">12.124 billion. The size of the companies in the Index </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">changes with market conditions and the composition of the Index. The subadviser may continue to hold an investment for further capital growth opportunities even if, through market appreciation, the company’s market cap </span><span style="font-family:Arial;font-size:10pt;">value exceeds these small cap measures. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund is managed by two subadvisers, American Century Investment Management, Inc. (“American Century”) and T. Rowe Price Associates, Inc.(“T. Rowe </span><span style="color:#000000;font-family:Arial;font-size:10pt;">Price”). </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The American Century portfolio managers look for stocks of small-cap companies that they believe will increase in value over time, using an investment strategy developed by American Century. In implementing this strategy, the portfolio managers make their investment decisions based primarily on their analysis of individual companies, rather than on broad economic forecasts. Management of the Fund is based on the belief that, over the long term, stock price movements follow growth in earnings and revenues. The portfolio managers’ principal analytical technique involves the identification of companies with earnings and revenues that are not only growing but growing at an accelerating pace. This includes companies whose growth rates, although still negative, are less negative than prior periods and companies whose growth rates are expected to accelerate. In addition to accelerating growth, portfolio managers also may consider investing in companies whose stocks demonstrate price strength relative to their peers. This means that the portfolio managers favor companies whose securities are the strongest performers compared to the overall market. These techniques help the portfolio managers buy or hold the stocks of companies they believe have favorable growth prospects and sell the stocks of companies whose characteristics no longer </span><span style="color:#000000;font-family:Arial;font-size:10pt;">meet their criteria. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">T. Rowe Price manages the Fund’s investments in certain privately placed securities, but does not currently intend to </span><span style="color:#000000;font-family:Arial;font-size:10pt;">invest in additional privately placed securities. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">In order to generate additional income, the Fund may lend portfolio securities to broker-dealers and other financial institutions provided that the value of the loaned securities does not exceed 30% of the Fund’s total assets. These loans earn income for the Fund and are collateralized by cash and securities issued or guaranteed by the U.S. </span><span style="color:#000000;font-family:Arial;font-size:10pt;">Government or its agencies or instrumentalities.</span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">Under normal market conditions, the Fund invests at least 80% of </span><span style="font-family:Arial;font-size:10pt;">its net assets in securities of small-cap growth </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">companies.</span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">For purposes of the Fund’s 80% investment policy, a company is considered to be a growth company if it: (i)</span><span style="font-family:Arial;font-size:10pt;"> issues securities that are represented in a third-party </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">growth-style index or that are classified as a growth company by a third-party vendor; or (ii)</span><span style="font-family:Arial;font-size:10pt;"> meets a relevant </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">equity market measurement in at least one “growth metric” similar to those commonly used by third-party index providers or third-party vendors in growth classifications, such as earnings growth, price-to-earnings or sales growth, among others.</span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">A company will be considered a small-cap company if its market capitalization, at the time of purchase, is equal to or less than the largest company in the Russell 2000</span><span style="font-family:Arial;font-size:6.5pt;position:relative;top:-3.25pt;">® </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">Index during the most recent 12-month period.</span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">For purposes of the Fund’s 80% investment policy, a company is considered to be a growth company if it: (i)</span><span style="font-family:Arial;font-size:10pt;"> issues securities that are represented in a third-party </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">growth-style index or that are classified as a growth company by a third-party vendor; or (ii)</span><span style="font-family:Arial;font-size:10pt;"> meets a relevant </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">equity market measurement in at least one “growth metric” similar to those commonly used by third-party index providers or third-party vendors in growth classifications, such as earnings growth, price-to-earnings or sales growth, among others.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;">Shares of the Fund are not bank deposits and </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">are not guaranteed or insured by any bank, government entity or the Federal Deposit Insurance Corporation.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;"> If the </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">value of the assets of the Fund goes down, you could lose </span><span style="color:#000000;font-family:Arial;font-size:10pt;">money.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Management Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The investment style or strategy used </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">by the Fund may fail to produce the intended result. A </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">subadviser’s assessment of a particular security or company may prove incorrect, resulting in losses or </span><span style="color:#000000;font-family:Arial;font-size:10pt;">underperformance.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Equity Securities Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The Fund’s investments in equity </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">securities are subject to the risk that stock prices will fall and may underperform other asset classes. Individual stock prices fluctuate from day-to-day and may decline significantly. The prices of individual stocks may be negatively affected by poor company results or other factors affecting individual prices, as well as industry and/or economic trends and developments affecting industries </span><span style="color:#000000;font-family:Arial;font-size:10pt;">or the securities market as a whole.</span> <span style="font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Small-Cap Company Risk. </span><span style="font-family:Arial;font-size:10pt;">Investing in small-cap </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">companies carries the risk that due to current market conditions these companies may be out of favor with investors. Small companies often are in the early stages of development with limited product lines, markets, or financial resources and managements lacking depth and experience, which may cause their stock prices to be more volatile than those of larger companies. Small company stocks may be less liquid yet subject to abrupt or erratic price movements. It may take a substantial period of time before the Fund realizes a gain on an investment in a </span><span style="font-family:Arial;font-size:10pt;">small-cap company, if it realizes any gain at all.</span> <span style="font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Growth Style Risk.</span><span style="font-family:Arial;font-size:10pt;"> Generally, “growth” stocks are stocks </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">of companies that </span><span style="font-family:Arial;font-size:10pt;">have anticipated earnings ranging from </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">steady to accelerated growth. Many investors buy growth stocks because of anticipated superior earnings growth, but earnings disappointments often result in sharp price declines. Growth companies usually invest a high portion of earnings in their own businesses so their stocks may lack the dividends that can cushion share prices in a down market. In addition, the value of growth stocks may be more sensitive to changes in current or expected earnings than the value of other stocks, because growth stocks </span><span style="font-family:Arial;font-size:10pt;">trade at higher prices relative to current earnings.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Market Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The Fund’s share price can fall because of </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">weakness in the broad market, a particular industry, or specific holdings or due to adverse social, political or economic developments here or abroad, changes in investor psychology, technological disruptions, or heavy institutional selling and other conditions or events (including, for example, military confrontations, war, terrorism, trade wars, disease/virus outbreaks and epidemics). The prices of individual securities may fluctuate, sometimes dramatically, from day to day. The prices of stocks and other equity securities tend to be </span><span style="color:#000000;font-family:Arial;font-size:10pt;">more volatile than those of fixed-income securities.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Securities Lending Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Engaging in securities lending </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">could increase the market and credit risk for Fund </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">investments. The Fund may lose money if it does not recover borrowed securities, the value of the collateral falls, or the value of investments made with cash collateral declines. The Fund’s loans will be collateralized by securities issued or guaranteed by the U.S. Government or its agencies and instrumentalities, which subjects the Fund to the credit risk of the U.S. Government or the issuing federal agency or instrumentality. If the value of either the cash collateral or the Fund’s investments of the cash collateral falls below the amount owed to a borrower, the Fund also may incur losses that exceed the amount it earned on lending the security. Securities lending also involves the risks of delay in receiving additional collateral or possible loss of rights in the collateral if the borrower fails. Another risk of securities lending is the risk that the loaned portfolio securities may not be available to the Fund on a timely basis and the Fund may therefore lose </span><span style="color:#000000;font-family:Arial;font-size:10pt;">the opportunity to sell the securities at a desirable price.</span> <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Performance Information</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">As a result of a reorganization which occurred on May 24, 2021 (the “Reorganization”), the Fund acquired all of the assets and liabilities of the Small Cap Growth Fund (the “Predecessor Fund”), a series of VALIC Company II. The returns presented for the Fund reflect the performance of the Predecessor Fund. The Fund had not yet commenced operations prior to the Reorganization. The performance information below is based on the performance of the Predecessor Fund for periods prior to the date of the Reorganization. The Fund and the Predecessor Fund had substantially similar investment objectives and strategies. </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">The below bar chart and table illustrate the risks of investing in the Fund by showing changes in the Fund’s performance from calendar year to calendar year and comparing the Fund’s average annual returns to those of the Russell 3000</span><span style="font-family:Arial;font-size:6.5pt;position:relative;top:-3.25pt;">®</span><span style="font-family:Arial;font-size:10pt;"> Index (a broad-based securities market </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">index) and the Russell 2000</span><span style="font-family:Arial;font-size:6.5pt;position:relative;top:-3.25pt;">®</span><span style="font-family:Arial;font-size:10pt;"> Growth Index, which is </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">relevant to the Fund because it has characteristics similar to the Fund’s investment strategies.</span><span style="font-family:Arial;font-size:10pt;"> Fees and expenses </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">incurred at the contract level are not reflected in the bar chart or table. If these amounts were reflected, returns would be less than those shown. </span><span style="font-family:Arial;font-size:10pt;">Of course, past </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">performance of the Fund is not necessarily an indication </span><span style="font-family:Arial;font-size:10pt;">of how the Fund will perform in the future.</span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">T. Rowe Price was added as a subadviser for the fund effective May 24, 2021.  American Century was added as </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">a </span><span style="font-family:Arial;font-size:10pt;">subadviser to the Fund effective September 30, 2024, </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">replacing J.P. Morgan Investment Management Inc., which served as </span><span style="font-family:Arial;font-size:10pt;">subadviser to the Fund and to the Predecessor Fund since December 10, 2007.</span> <br/><span style="font-family:Arial;font-size:10pt;margin-left:0%;">The percentage of the Fund’s assets that each subadviser manages may, at the adviser’s discretion, change from </span><span style="font-family:Arial;font-size:10pt;">time to time. </span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">The below bar chart and table illustrate the risks of investing in the Fund by showing changes in the Fund’s performance from calendar year to calendar year and comparing the Fund’s average annual returns to those of the Russell 3000</span><span style="font-family:Arial;font-size:6.5pt;position:relative;top:-3.25pt;">®</span><span style="font-family:Arial;font-size:10pt;"> Index (a broad-based securities market </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">index) and the Russell 2000</span><span style="font-family:Arial;font-size:6.5pt;position:relative;top:-3.25pt;">®</span><span style="font-family:Arial;font-size:10pt;"> Growth Index, which is </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">relevant to the Fund because it has characteristics similar to the Fund’s investment strategies.</span> <span style="font-family:Arial;font-size:10pt;"> Fees and expenses </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">incurred at the contract level are not reflected in the bar chart or table. If these amounts were reflected, returns would be less than those shown. </span> <span style="font-family:Arial;font-size:10pt;">Of course, past </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">performance of the Fund is not necessarily an indication </span><span style="font-family:Arial;font-size:10pt;">of how the Fund will perform in the future.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;">During the period shown in the bar chart:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Highest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">June 30, 2020</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">37.73%</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Lowest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">June 30, 2022</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">-21.72%</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Year to Date Most </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Recent Quarter:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">June 30, 2026</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">20.99%</span> <span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Highest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span> 2020-06-30 0.3773 <span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Lowest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span> 2022-06-30 -0.2172 <span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Year to Date Most </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Recent Quarter:</span> 2026-06-30 0.2099 <span style="font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Average Annual Total Returns</span><span style="font-family:Arial;font-size:10pt;"> (For the periods ended December 31, 2025)</span> 0.0920 -0.0235 0.1101 0.1715 0.1315 0.1429 0.1301 0.0318 0.0957 <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Investment Objective</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund seeks to provide growth of capital through investment primarily in a diversified portfolio of common stocks that, as a group, the subadviser believes may provide investment results closely corresponding to the </span><span style="color:#000000;font-family:Arial;font-size:10pt;">performance of the Russell 2000</span><span style="color:#000000;font-family:Arial;font-size:6.5pt;position:relative;top:-3.25pt;">®</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Index (the “Index”).</span> <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Fees and Expenses of the Fund</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">This table describes the fees and expenses that you may pay if you buy, hold and sell shares of the Fund. </span><span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">The table </span><span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">and the example below do not reflect the separate account fees charged in the variable annuity or variable life insurance policy (“Variable Contracts”) in which the Fund is offered.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> If separate account fees were </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">shown, the Fund’s annual operating expenses would be higher. Please see your Variable Contract prospectus for </span><span style="color:#000000;font-family:Arial;font-size:10pt;">more details on the separate account fees.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;text-decoration:underline;">Annual Fund Operating Expenses</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> (expenses that you </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">pay each year as a percentage of the value of your </span><span style="color:#000000;font-family:Arial;font-size:10pt;">investment)</span> 0.0029 0.0013 0.0042 -0.0006 0.0036 <span style="font-family:Arial;font-size:8pt;">September 30, 2027</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-style:italic;font-weight:bold;text-decoration:underline;">Expense Example</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem or hold all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same (except that the Example incorporates any applicable fee waiver and/or expense limitation arrangements for only the first year). The </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">Example does not reflect charges imposed by the Variable Contract. If the </span><span style="font-family:Arial;font-size:10pt;">separate account fees were reflected, the </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">expenses would be higher. See the Variable Contract prospectus for information on such charges. Although your actual costs may be higher or lower, based on these assumptions and the net expenses shown in the fee table, </span><span style="font-family:Arial;font-size:10pt;">your costs would be:</span> 37 129 229 524 <span style="color:#000000;font-family:Arial;font-size:10pt;font-style:italic;font-weight:bold;text-decoration:underline;">Portfolio Turnover</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). These costs, which are not reflected in annual fund operating expenses or in the Example, affect the </span><span style="color:#000000;font-family:Arial;font-size:10pt;">Fund’s performance.</span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">During the most recent fiscal year, the Fund’s portfolio </span><span style="font-family:Arial;font-size:10pt;">turnover rate was </span><span style="font-family:Arial;font-size:10pt;">26%</span><span style="font-family:Arial;font-size:10pt;"> of the average value of its portfolio.</span> 0.26 <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Principal Investment Strategies of the Fund</span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">The Fund is managed to seek to track the performance of the Index, which measures the performance of </span><span style="font-family:Arial;font-size:10pt;">the 2,000 </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">smallest companies in the Russell 3000® Index,</span><span style="font-family:Arial;font-size:10pt;line-height:12pt;"> </span><span style="font-family:Arial;font-size:10pt;">which </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">represents approximately</span><span style="font-family:Arial;font-size:10pt;"> 10%</span><span style="font-family:Arial;font-size:10pt;line-height:12pt;"> </span><span style="font-family:Arial;font-size:10pt;">of the total market </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">capitalization of the Russell 3000® Index</span><span style="font-family:Arial;font-size:10pt;">.</span><span style="font-family:Arial;font-size:10pt;">The Subadviser </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">may endeavor to track the Index by purchasing every stock included in the Index, in the same proportions. Or, in the alternative, the Subadviser may invest in a sampling of Index stocks by utilizing a statistical technique known as “optimization.” The goal of optimization is to select stocks which ensure that various industry weightings, market capitalizations, and fundamental characteristics (</span><span style="font-family:Arial;font-size:10pt;font-style:italic;">e.g.</span><span style="font-family:Arial;font-size:10pt;">, </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">price-to-book, price-to-earnings, debt-to-asset ratios and </span><span style="font-family:Arial;font-size:10pt;">dividend yields) closely approximate those of the Index.</span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund invests, under normal circumstances, at least 80% of net assets in stocks that are in the Index.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Although </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">the Fund seeks to track the performance of the Index, the performance of the Fund will not match that of the Index exactly because, among other reasons, the Fund incurs operating expenses and other investment overhead as part of its normal operations. The subadviser may use derivatives to seek to track the performance of the Index, </span><span style="color:#000000;font-family:Arial;font-size:10pt;">including futures and total return swaps. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">In order to generate additional income, the Fund may lend portfolio securities to broker-dealers and other financial institutions provided that the value of the loaned securities does not exceed 30% of the Fund’s total assets. These </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">loans earn income for the Fund and are collateralized by cash and securities issued or guaranteed by the U.S. </span><span style="font-family:Arial;font-size:10pt;">Government or its agencies or instrumentalities.</span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">The Fund is managed to seek to track the performance of the Index, which measures the performance of </span><span style="font-family:Arial;font-size:10pt;">the 2,000 </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">smallest companies in the Russell 3000® Index,</span><span style="font-family:Arial;font-size:10pt;line-height:12pt;"> </span><span style="font-family:Arial;font-size:10pt;">which </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">represents approximately</span><span style="font-family:Arial;font-size:10pt;"> 10%</span><span style="font-family:Arial;font-size:10pt;line-height:12pt;"> </span><span style="font-family:Arial;font-size:10pt;">of the total market </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">capitalization of the Russell 3000® Index</span><span style="font-family:Arial;font-size:10pt;">.</span> <span style="font-family:Arial;font-size:10pt;">The Subadviser </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">may endeavor to track the Index by purchasing every stock included in the Index, in the same proportions. Or, in the alternative, the Subadviser may invest in a sampling of Index stocks by utilizing a statistical technique known as “optimization.” The goal of optimization is to select stocks which ensure that various industry weightings, market capitalizations, and fundamental characteristics (</span><span style="font-family:Arial;font-size:10pt;font-style:italic;">e.g.</span><span style="font-family:Arial;font-size:10pt;">, </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">price-to-book, price-to-earnings, debt-to-asset ratios and </span><span style="font-family:Arial;font-size:10pt;">dividend yields) closely approximate those of the Index.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund invests, under normal circumstances, at least 80% of net assets in stocks that are in the Index.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;">Shares of the Fund are not bank deposits and </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">are not guaranteed or insured by any bank, government entity or the Federal Deposit Insurance Corporation.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;"> If the </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">value of the assets of the Fund goes down, you could lose </span><span style="color:#000000;font-family:Arial;font-size:10pt;">money.</span> <span style="font-family:Arial;font-size:10pt;font-weight:bold;">Equity Securities Risk.</span><span style="font-family:Arial;font-size:10pt;"> The Fund’s investments in equity </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">securities are subject to the risk that stock prices will fall and may underperform other asset classes. Individual stock prices fluctuate from day-to-</span><span style="font-family:Arial;font-size:10pt;">day and may decline </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">significantly</span><span style="font-family:Arial;font-size:10pt;">. The prices of individual stocks may be </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">negatively affected by poor company results or other factors affecting individual prices</span><span style="font-family:Arial;font-size:10pt;">, as well as industry and/or economic trends and developments affecting industries or the securities market as a whole.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Index Risk. </span><span style="color:#000000;font-family:Arial;font-size:10pt;">In attempting to track the performance of the </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">index, the Fund may be more susceptible to adverse developments concerning a particular security, company or industry because the Fund generally will not use any </span><span style="color:#000000;font-family:Arial;font-size:10pt;">defensive strategies to mitigate its risk exposure.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Failure to Match Index Performance Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The ability of </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">the Fund to match the performance of the Index may be affected by, among other things, changes in securities markets, the manner in which performance of the Index is calculated, changes in the composition of the Index, the amount and timing of cash flows into and out of the Fund, commissions, portfolio expenses, and any differences in the pricing of securities by the Fund and the Index. When the Fund employs an “optimization” strategy, the Fund is subject to an increased risk of tracking error, in that the securities selected in the aggregate for the Fund may </span><span style="color:#000000;font-family:Arial;font-size:10pt;">perform differently than the Index.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Small-Cap Company Risk. </span><span style="color:#000000;font-family:Arial;font-size:10pt;">Investing in small-cap </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">companies carries the risk that due to current market conditions these companies may be out of favor with investors. Small companies often are in the early stages of development with limited product lines, markets, or financial resources and managements lacking depth and experience, which may cause their stock prices to be more volatile than those of larger companies. Small company stocks may be less liquid yet subject to abrupt or erratic </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">price movements. It may take a substantial period of time before the Fund realizes a gain on an investment in a </span><span style="color:#000000;font-family:Arial;font-size:10pt;">small-cap company, if it realizes any gain at all.</span> <span style="font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Derivatives Risk. </span><span style="font-family:Arial;font-size:10pt;">The prices of derivatives may move in </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">unexpected ways due to the use of leverage and other factors and may result in increased volatility or losses. The Fund may not be able to terminate or sell derivative positions, and a liquid secondary market may not always </span><span style="font-family:Arial;font-size:10pt;">exist for derivative positions.</span> <span style="font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Market Risk.</span><span style="font-family:Arial;font-size:10pt;"> The Fund’s share price can fall because of </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">weakness in the broad market, a particular industry, or specific holdings or due to adverse social, political or economic developments here or abroad, changes in investor psychology, technological disruptions, or heavy institutional selling and other conditions or events (including, for example, military confrontations, war, terrorism, trade wars, disease/virus outbreaks and epidemics). The prices of individual securities may fluctuate, sometimes dramatically, from day to day. The prices of stocks and other equity securities tend to be </span><span style="font-family:Arial;font-size:10pt;">more volatile than those of fixed-income securities.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Securities Lending Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Engaging in securities lending </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">could increase the market and credit risk for Fund investments. The Fund may lose money if it does not recover borrowed securities, the value of the collateral falls, or the value of investments made with cash collateral declines. The Fund’s loans will be collateralized by securities issued or guaranteed by the U.S. Government or its agencies and instrumentalities, which subjects the Fund to the credit risk of the U.S. Government or the issuing federal agency or instrumentality. If the value of either the cash collateral or the Fund’s investments of the cash collateral falls below the amount owed to a borrower, the Fund also may incur losses that exceed the amount it earned on lending the security. Securities lending also involves the risks of delay in receiving additional collateral or possible loss of rights in the collateral if the borrower fails. Another risk of securities lending is the risk that the loaned portfolio securities may not be available to the Fund on a timely basis and the Fund may therefore lose </span><span style="color:#000000;font-family:Arial;font-size:10pt;">the opportunity to sell the securities at a desirable price.</span> <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Performance Information</span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">The below bar chart and table illustrate the risks of investing in the Fund by showing changes in the Fund’s performance from calendar year to calendar year and comparing the Fund’s average annual returns to those of the Russell 3000</span><span style="font-family:Arial;font-size:6.5pt;position:relative;top:-3.25pt;">®</span><span style="font-family:Arial;font-size:10pt;"> Index (a broad-based securities market </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">index) and the Russell 2000</span><span style="font-family:Arial;font-size:6.5pt;position:relative;top:-3.25pt;">®</span><span style="font-family:Arial;font-size:10pt;"> Index, which is relevant to </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">the Fund because it has characteristics similar to the Fund’s investment strategies.</span><span style="font-family:Arial;font-size:10pt;"> Fees and expenses </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">incurred at the contract level are not reflected in the bar </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">chart or table. If these amounts were reflected, returns would be less than those shown. </span><span style="color:#000000;font-family:Arial;font-size:10pt;">Of course, past </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">performance of the Fund is not necessarily an indication </span><span style="color:#000000;font-family:Arial;font-size:10pt;">of how the Fund will perform in the future.</span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">BlackRock Investment Management, LLC (“BlackRock”) assumed sub‑advisory responsibilities on April 30, 2025. Prior to this time, the Fund was subadvised by </span><span style="color:#000000;font-family:Arial;font-size:10pt;">SunAmerica Asset Management, LLC. </span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">The below bar chart and table illustrate the risks of investing in the Fund by showing changes in the Fund’s performance from calendar year to calendar year and comparing the Fund’s average annual returns to those of the Russell 3000</span><span style="font-family:Arial;font-size:6.5pt;position:relative;top:-3.25pt;">®</span><span style="font-family:Arial;font-size:10pt;"> Index (a broad-based securities market </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">index) and the Russell 2000</span><span style="font-family:Arial;font-size:6.5pt;position:relative;top:-3.25pt;">®</span><span style="font-family:Arial;font-size:10pt;"> Index, which is relevant to </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">the Fund because it has characteristics similar to the Fund’s investment strategies.</span> <span style="font-family:Arial;font-size:10pt;"> Fees and expenses </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">incurred at the contract level are not reflected in the bar </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">chart or table. If these amounts were reflected, returns would be less than those shown. </span> <span style="color:#000000;font-family:Arial;font-size:10pt;">Of course, past </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">performance of the Fund is not necessarily an indication </span><span style="color:#000000;font-family:Arial;font-size:10pt;">of how the Fund will perform in the future.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;">During the period shown in the bar chart:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Highest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">December 31, 2020</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">31.30%</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Lowest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">March 31, 2020</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">-30.69%</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Year to Date Most </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Recent Quarter:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">June 30, 2026</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">22.43%</span> <span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Highest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span> 2020-12-31 0.3130 <span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Lowest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span> 2020-03-31 -0.3069 <span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Year to Date Most </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Recent Quarter:</span> 2026-06-30 0.2243 <span style="font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Average Annual Total Returns</span><span style="font-family:Arial;font-size:10pt;"> (For the periods ended December 31, 2025)</span> 0.1223 0.0569 0.0927 0.1715 0.1315 0.1429 0.1281 0.0609 0.0962 <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Investment Objective</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund seeks to provide maximum long-term return, consistent with reasonable risk to principal, by investing primarily in securities of small-cap companies in terms of </span><span style="color:#000000;font-family:Arial;font-size:10pt;">revenues and/or market capitalization.</span> <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Fees and Expenses of the Fund</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">This table describes the fees and expenses that you may pay if you buy, hold and sell shares of the Fund. </span><span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">The table </span><span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">and the example below do not reflect the separate account fees charged in the variable annuity or variable life insurance policy (“Variable Contracts”) in which the Fund is offered.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> If separate account fees were </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">shown, the Fund’s annual operating expenses would be higher. Please see your Variable Contract prospectus for </span><span style="color:#000000;font-family:Arial;font-size:10pt;">more details on the separate account fees.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;text-decoration:underline;">Annual Fund Operating Expenses</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> (expenses that you </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">pay each year as a percentage of the value of your </span><span style="color:#000000;font-family:Arial;font-size:10pt;">investment)</span> 0.0067 0.0018 0.0085 <span style="color:#000000;font-family:Arial;font-size:10pt;font-style:italic;font-weight:bold;text-decoration:underline;">Expense Example</span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem or hold all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same (except that the Example incorporates any applicable fee waiver and/or expense limitation arrangements for only the first year). The Example does not reflect charges imposed by the Variable Contract. If the </span><span style="font-family:Arial;font-size:10pt;">separate account fees were reflected, the </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">expenses would be higher. See the Variable Contract prospectus for information on such charges. Although your actual costs may be higher or lower, based on these assumptions and the net expenses shown in the fee table, </span><span style="font-family:Arial;font-size:10pt;">your costs would be:</span> 87 271 471 1049 <span style="color:#000000;font-family:Arial;font-size:10pt;font-style:italic;font-weight:bold;text-decoration:underline;">Portfolio Turnover</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). These costs, which are not reflected in annual fund operating expenses or in the Example, affect the </span><span style="color:#000000;font-family:Arial;font-size:10pt;">Fund’s performance.</span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">During the most recent fiscal year, the Fund’s portfolio </span><span style="color:#000000;font-family:Arial;font-size:10pt;">turnover rate was </span><span style="color:#000000;font-family:Arial;font-size:10pt;">80%</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> of the average value of its portfolio.</span> 0.80 <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Principal Investment Strategies of the Fund</span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">The Fund invests, under normal circumstances, at least 80% of its net assets in </span><span style="font-family:Arial;font-size:10pt;">securities of small-cap value </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">companies.</span><span style="font-family:Arial;font-size:10pt;"> The Fund invests primarily in equity securities. </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">For purposes of the Fund’s 80% investment policy, a company is considered to be a value company if it: (i)</span><span style="font-family:Arial;font-size:10pt;"> issues securities that are represented in a third-party </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">value-style index or that are classified as a value company by a third-party vendor; or (ii)</span><span style="font-family:Arial;font-size:10pt;"> meets a relevant equity </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">market measurement in at least one “value metric” similar to those commonly used by third-party index providers or third-party vendors in value classifications, such as earnings growth, price-to-earnings or sales growth, </span><span style="font-family:Arial;font-size:10pt;">among others.</span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">A company will be considered a small-cap company if its market capitalization, at time of purchase, is equal to or less than the largest company in the Russell 2000</span><span style="font-family:Arial;font-size:6.5pt;position:relative;top:-3.25pt;">®</span><span style="font-family:Arial;font-size:10pt;line-height:12pt;"> </span><span style="font-family:Arial;font-size:10pt;">Value </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">Index during the most recent 12-month period.</span><span style="font-family:Arial;font-size:10pt;"> As of August 31, 2026, the median stock by market </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">capitalization in the Index was approximately $</span><span style="font-family:Arial;font-size:10pt;">0.930</span><span style="font-family:Arial;font-size:10pt;line-height:12pt;"> </span><span style="font-family:Arial;font-size:10pt;">million, and the largest stock was approximately </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">$</span><span style="font-family:Arial;font-size:10pt;">10.761 billion. The size of the companies in the Index </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">changes with market conditions and the composition of </span><span style="font-family:Arial;font-size:10pt;">the Index. </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">The subadvisers use a value-oriented approach. </span><span style="font-family:Arial;font-size:10pt;">Within </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">the universe of value companies, companies </span><span style="font-family:Arial;font-size:10pt;">will be </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">selected based upon valuation characteristics such as price-to-cash flow ratios which are at a discount to market averages. Although the Fund primarily invests in domestic issuers, the Fund is authorized to invest up to 25% of its </span><span style="font-family:Arial;font-size:10pt;">assets in the securities of foreign issuers. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">In order to generate additional income, the Fund may lend portfolio securities to broker-dealers and other financial institutions provided that the value of the loaned securities does not exceed 30% of the Fund’s total assets. These loans earn income for the Fund and are collateralized by cash and securities issued or guaranteed by the U.S. </span><span style="color:#000000;font-family:Arial;font-size:10pt;">Government or its agencies or instrumentalities.</span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">The Fund invests, under normal circumstances, at least 80% of its net assets in </span><span style="font-family:Arial;font-size:10pt;">securities of small-cap value </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">companies.</span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">For purposes of the Fund’s 80% investment policy, a company is considered to be a value company if it: (i)</span><span style="font-family:Arial;font-size:10pt;"> issues securities that are represented in a third-party </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">value-style index or that are classified as a value company by a third-party vendor; or (ii)</span><span style="font-family:Arial;font-size:10pt;"> meets a relevant equity </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">market measurement in at least one “value metric” similar to those commonly used by third-party index providers or third-party vendors in value classifications, such as earnings growth, price-to-earnings or sales growth, </span><span style="font-family:Arial;font-size:10pt;">among others.</span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">A company will be considered a small-cap company if its market capitalization, at time of purchase, is equal to or less than the largest company in the Russell 2000</span><span style="font-family:Arial;font-size:6.5pt;position:relative;top:-3.25pt;">®</span><span style="font-family:Arial;font-size:10pt;line-height:12pt;"> </span><span style="font-family:Arial;font-size:10pt;">Value </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">Index during the most recent 12-month period.</span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">For purposes of the Fund’s 80% investment policy, a company is considered to be a value company if it: (i)</span><span style="font-family:Arial;font-size:10pt;"> issues securities that are represented in a third-party </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">value-style index or that are classified as a value company by a third-party vendor; or (ii)</span><span style="font-family:Arial;font-size:10pt;"> meets a relevant equity </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">market measurement in at least one “value metric” similar to those commonly used by third-party index providers or third-party vendors in value classifications, such as earnings growth, price-to-earnings or sales growth, </span><span style="font-family:Arial;font-size:10pt;">among others.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;">Shares of the Fund are not bank deposits and </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">are not guaranteed or insured by any bank, government entity or the Federal Deposit Insurance Corporation.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;"> If the </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">value of the assets of the Fund goes down, you could lose </span><span style="color:#000000;font-family:Arial;font-size:10pt;">money.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Management Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The investment style or strategy used </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">by the Fund may fail to produce the intended result. A subadviser’s assessment of a particular security or company may prove incorrect, resulting in losses or </span><span style="color:#000000;font-family:Arial;font-size:10pt;">underperformance.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Equity Securities Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The Fund’s investments in equity </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">securities are subject to the risk that stock prices will fall and may underperform other asset classes. Individual stock prices fluctuate from day-to-day and may decline significantly. The prices of individual stocks may be negatively affected by poor company results or other factors affecting individual prices, as well as industry and/or economic trends and developments affecting industries </span><span style="color:#000000;font-family:Arial;font-size:10pt;">or the securities market as a whole.</span> <span style="font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Small-Cap Company Risk. </span><span style="font-family:Arial;font-size:10pt;">Investing in small-cap </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">companies carries the risk that due to current market conditions these companies may be out of favor with investors. Small companies often are in the early stages of development with limited product lines, markets, or financial resources and managements lacking depth and experience, which may cause their stock prices to be more volatile than those of larger companies. Small company stocks may be less liquid yet subject to abrupt or erratic price movements. It may take a substantial period of time before the Fund realizes a gain on an investment in a </span><span style="font-family:Arial;font-size:10pt;">small-cap company, if it realizes any gain at all.</span> <span style="font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Foreign Investment Risk.</span><span style="font-family:Arial;font-size:10pt;"> Investment in foreign </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">securities involves risks due to several factors, such as illiquidity, the lack of public information, changes in the exchange rates between foreign currencies and the U.S. dollar, unfavorable political, social and legal developments, or economic and financial instability. Foreign companies are not subject to the U.S. accounting and financial reporting standards and may have riskier settlement procedures. U.S. investments that are denominated in foreign currencies or that are traded in foreign markets, or securities of U.S. companies that have significant foreign operations may be subject to foreign </span><span style="font-family:Arial;font-size:10pt;">investment risk.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Market Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The Fund’s share price can fall because of </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">weakness in the broad market, a particular industry, or specific holdings or due to adverse social, political or economic developments here or abroad, changes in investor psychology, technological disruptions, or heavy institutional selling and other conditions or events (including, for example, military confrontations, war, </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">terrorism, trade wars, disease/virus outbreaks and epidemics). The prices of individual securities may fluctuate, sometimes dramatically, from day to day. The prices of stocks and other equity securities tend to be </span><span style="color:#000000;font-family:Arial;font-size:10pt;">more volatile than those of fixed-income securities.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Securities Lending Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Engaging in securities lending </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">could increase the market and credit risk for Fund investments. The Fund may lose money if it does not recover borrowed securities, the value of the collateral falls, or the value of investments made with cash collateral declines. The Fund’s loans will be collateralized by securities issued or guaranteed by the U.S. Government or its agencies and instrumentalities, which subjects the Fund to the credit risk of the U.S. Government or the issuing federal agency or instrumentality. If the value of either the cash collateral or the Fund’s investments of the cash collateral falls below the amount owed to a borrower, the Fund also may incur losses that exceed the amount it earned on lending the security. Securities lending also involves the risks of delay in receiving additional collateral or possible loss of rights in the collateral if the borrower fails. Another risk of securities lending is the risk that the loaned portfolio securities may not be available to the Fund on a timely basis and the Fund may therefore lose </span><span style="color:#000000;font-family:Arial;font-size:10pt;">the opportunity to sell the securities at a desirable price.</span> <span style="font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Value Style Risk.</span><span style="font-family:Arial;font-size:10pt;"> Generally, “value” stocks are stocks of </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">companies that </span><span style="font-family:Arial;font-size:10pt;">are considered to be currently </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">undervalued in the marketplace. </span><span style="font-family:Arial;font-size:10pt;">The assessment that a </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">particular security is undervalued in relation to the company’s fundamental economic value may prove incorrect</span><span style="font-family:Arial;font-size:10pt;">, and the price of the company’s stock may fall or may not approach the value that has been attributed to it.</span> <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Performance Information</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">As a result of a reorganization which occurred on May 24, 2021 (the “Reorganization”), the Fund acquired all of the assets and liabilities of the Small Cap Value Fund (the “Predecessor Fund”), a series of VALIC Company II. The returns presented for the Fund reflect the performance of the Predecessor Fund. The Fund had not yet commenced operations prior to the Reorganization. The performance information below is based on the performance of the Predecessor Fund for periods prior to the date of the Reorganization. The Fund and the Predecessor Fund had the same investment objectives, strategies and portfolio </span><span style="color:#000000;font-family:Arial;font-size:10pt;">management team on the date of the Reorganization. </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">The below bar chart and table illustrate the risks of investing in the Fund by showing changes in the Fund’s performance from calendar year to calendar year and comparing the Fund’s average annual returns to those of the Russell 3000</span><span style="font-family:Arial;font-size:6.5pt;position:relative;top:-3.25pt;">®</span><span style="font-family:Arial;font-size:10pt;"> Index (a broad-based securities market </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">index) and the Russell 2000</span><span style="color:#000000;font-family:Arial;font-size:6.5pt;position:relative;top:-3.25pt;">®</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Value Index, which is </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">relevant to the Fund because it has characteristics similar to the Fund’s investment strategies.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Fees and expenses </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">incurred at the contract level are not reflected in the bar chart or table. If these amounts were reflected, returns would be less than those shown. </span><span style="color:#000000;font-family:Arial;font-size:10pt;">Of course, past </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">performance of the Fund is not necessarily an indication </span><span style="color:#000000;font-family:Arial;font-size:10pt;">of how the Fund will perform in the future.</span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">J.P. Morgan Investment Management Inc. (“JPMIM”) (and its predecessors) assumed management of the Predecessor Fund on January 1, 2002. </span><span style="font-family:Arial;font-size:10pt;">From February 8, </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">2010 to October 28, 2016, Wells Capital Management Incorporated (f/k/a Metropolitan West Capital Management, LLC) was a co-subadviser of the Predecessor Fund. On October 29, 2016, JPMIM became </span><span style="font-family:Arial;font-size:10pt;">the Predecessor Fund’s sole subadviser. </span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">The below bar chart and table illustrate the risks of investing in the Fund by showing changes in the Fund’s performance from calendar year to calendar year and comparing the Fund’s average annual returns to those of the Russell 3000</span><span style="font-family:Arial;font-size:6.5pt;position:relative;top:-3.25pt;">®</span><span style="font-family:Arial;font-size:10pt;"> Index (a broad-based securities market </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">index) and the Russell 2000</span><span style="color:#000000;font-family:Arial;font-size:6.5pt;position:relative;top:-3.25pt;">®</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Value Index, which is </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">relevant to the Fund because it has characteristics similar to the Fund’s investment strategies.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;"> Fees and expenses </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">incurred at the contract level are not reflected in the bar chart or table. If these amounts were reflected, returns would be less than those shown. </span> <span style="color:#000000;font-family:Arial;font-size:10pt;">Of course, past </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">performance of the Fund is not necessarily an indication </span><span style="color:#000000;font-family:Arial;font-size:10pt;">of how the Fund will perform in the future.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;">During the period shown in the bar chart:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Highest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">December 31, 2020</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">33.74%</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Lowest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">March 31, 2020</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">-36.20%</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Year to Date Most </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Recent Quarter:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">June 30, 2026</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">22.69%</span> <span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Highest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span> 2020-12-31 0.3374 <span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Lowest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span> 2020-03-31 -0.3620 <span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Year to Date Most </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Recent Quarter:</span> 2026-06-30 0.2269 <span style="font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Average Annual Total Returns</span><span style="font-family:Arial;font-size:10pt;"> (For the periods ended December 31, 2025)</span> 0.1216 0.0955 0.0854 0.1715 0.1315 0.1429 0.1259 0.0888 0.0927 <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Investment Objective</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund seeks long-term capital growth through investment in common stocks that, as a group, are expected to provide investment results closely corresponding to the performance of the S&amp;P 500</span><span style="color:#000000;font-family:Arial;font-size:6.5pt;position:relative;top:-3.25pt;">®</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Index (the “Index”).</span> <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Fees and Expenses of the Fund</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">This table describes the fees and expenses that you may pay if you buy, hold and sell shares of the Fund. </span><span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">The table </span><span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">and the example below do not reflect the separate account fees charged in the variable annuity or variable life insurance policy (“Variable Contracts”) in which the Fund is offered.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> If separate account fees were </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">shown, the Fund’s annual operating expenses would be higher. Please see your Variable Contract prospectus for </span><span style="color:#000000;font-family:Arial;font-size:10pt;">more details on the separate account fees.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;text-decoration:underline;">Annual Fund Operating Expenses</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> (expenses that you </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">pay each year as a percentage of the value of your </span><span style="color:#000000;font-family:Arial;font-size:10pt;">investment)</span> 0.0022 0.0009 0.0031 -0.0009 0.0022 <span style="font-family:Arial;font-size:8pt;">September 30, 2027</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-style:italic;font-weight:bold;text-decoration:underline;">Expense Example</span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem or hold all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same (except that the Example incorporates any applicable fee waiver and/or expense limitation arrangements for only the first year). The Example does not reflect charges imposed by the Variable Contract. If the </span><span style="font-family:Arial;font-size:10pt;">separate account fees were reflected, the </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">expenses would be higher. See the Variable Contract </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">prospectus for information on such charges. Although your actual costs may be higher or lower, based on these assumptions and the net expenses shown in the fee table, </span><span style="color:#000000;font-family:Arial;font-size:10pt;">your costs would be:</span> 23 91 165 384 <span style="color:#000000;font-family:Arial;font-size:10pt;font-style:italic;font-weight:bold;text-decoration:underline;">Portfolio Turnover</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). These costs, which are not reflected in annual fund operating expenses or in the Example, affect the </span><span style="color:#000000;font-family:Arial;font-size:10pt;">Fund’s performance.</span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">During the most recent fiscal year, the Fund’s portfolio </span><span style="font-family:Arial;font-size:10pt;">turnover rate was </span><span style="font-family:Arial;font-size:10pt;">4%</span><span style="font-family:Arial;font-size:10pt;"> of the average value of its portfolio.</span> 0.04 <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Principal Investment Strategies of the Fund</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund is managed to seek to track the performance of the Index, which measures the stock performance of 500 large- and mid-cap companies and is often used to indicate the performance of the overall stock market.</span><span style="color:#000000;font-family:Arial;font-size:10pt;">The </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">Subadviser may endeavor to track the Index by purchasing every stock included in the Index, in the same proportions. Or, in the alternative, the Subadviser may invest in a sampling of Index stocks by utilizing a statistical technique known as “optimization.” The goal of optimization is to select stocks which ensure that various industry weightings, market capitalizations, and fundamental characteristics, (</span><span style="color:#000000;font-family:Arial;font-size:10pt;font-style:italic;">e.g.</span><span style="color:#000000;font-family:Arial;font-size:10pt;">, price-to-book, price-to-earnings,</span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;"> debt-to-asset ratios and dividend yields) closely </span><span style="color:#000000;font-family:Arial;font-size:10pt;">approximate those of the Index.</span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund invests, under normal circumstances, at least 80% of net assets in stocks that are in the Index.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Although </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">the Fund seeks to track the performance of the Index, the performance of the Fund will not match that of the Index exactly because, among other reasons, the Fund incurs operating expenses and other investment overhead as part of its normal operations. The subadviser may use derivatives to seek to track the performance of the Index, </span><span style="color:#000000;font-family:Arial;font-size:10pt;">including futures and total return swaps. </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">The Fund is classified as diversified under the Investment Company Act of 1940, as amended. However, the Fund may become non-diversified (which means that it can invest a greater percentage of its assets in the securities of fewer issuers than can a diversified fund), solely as a result of a change in the relative market capitalization or index weighting of one or more of the Index constituents. In these circumstances, the Fund may hold larger positions in a smaller number of issuers than a diversified fund. Shareholder approval will not be sought if the Fund </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">becomes non-diversified due solely to a change in the relative market capitalization or index weighting of one or </span><span style="font-family:Arial;font-size:10pt;">more constituents of the Index. </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">In order to generate additional income, the Fund may lend portfolio securities to broker-dealers and other financial institutions provided that the value of the loaned securities does not exceed 30% of the Fund’s total assets. These loans earn income for the Fund and are collateralized by cash and securities issued or guaranteed by the U.S. </span><span style="font-family:Arial;font-size:10pt;">Government or its agencies or instrumentalities.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund is managed to seek to track the performance of the Index, which measures the stock performance of 500 large- and mid-cap companies and is often used to indicate the performance of the overall stock market.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;">The </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">Subadviser may endeavor to track the Index by purchasing every stock included in the Index, in the same proportions. Or, in the alternative, the Subadviser may invest in a sampling of Index stocks by utilizing a statistical technique known as “optimization.” The goal of optimization is to select stocks which ensure that various industry weightings, market capitalizations, and fundamental characteristics, (</span><span style="color:#000000;font-family:Arial;font-size:10pt;font-style:italic;">e.g.</span><span style="color:#000000;font-family:Arial;font-size:10pt;">, price-to-book, price-to-earnings,</span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;"> debt-to-asset ratios and dividend yields) closely </span><span style="color:#000000;font-family:Arial;font-size:10pt;">approximate those of the Index.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund invests, under normal circumstances, at least 80% of net assets in stocks that are in the Index.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;">Shares of the Fund are not bank deposits and </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">are not guaranteed or insured by any bank, government entity or the Federal Deposit Insurance Corporation.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;"> If the </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">value of the assets of the Fund goes down, you could lose </span><span style="color:#000000;font-family:Arial;font-size:10pt;">money.</span> <span style="font-family:Arial;font-size:10pt;font-weight:bold;">Equity Securities Risk.</span><span style="font-family:Arial;font-size:10pt;"> The Fund invests primarily in </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">equity securities and is therefore subject to the risk that stock prices will fall and may underperform other asset classes. Individual stock prices fluctuate from day-to-</span><span style="font-family:Arial;font-size:10pt;">day </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">and may decline significantly</span><span style="font-family:Arial;font-size:10pt;">. The prices of individual </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">stocks may be negatively affected by poor company results or other factors affecting individual prices</span><span style="font-family:Arial;font-size:10pt;">, as well </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">as industry </span><span style="font-family:Arial;font-size:10pt;">and/or economic trends and developments affecting industries or the securities market as a whole.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Management Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The investment style or strategy used </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">by a subadviser may fail to produce the intended result. A subadviser’s assessment of a particular security or company may prove incorrect, resulting in losses or </span><span style="color:#000000;font-family:Arial;font-size:10pt;">underperformance.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Index Risk. </span><span style="color:#000000;font-family:Arial;font-size:10pt;">In attempting to track the performance of the </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">index, the Fund may be more susceptible to adverse developments concerning a particular security, company or industry because the Fund generally will not use any </span><span style="color:#000000;font-family:Arial;font-size:10pt;">defensive strategies to mitigate its risk exposure.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Failure to Match Index Performance Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The ability of </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">the Fund to match the performance of the Index may be affected by, among other things, changes in securities markets, the manner in which performance of the Index is calculated, changes in the composition of the Index, the amount and timing of cash flows into and out of the Fund, commissions, portfolio expenses, and any differences in the pricing of securities by the Fund and the Index. When </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">the Fund employs an “optimization” strategy, the Fund is subject to an increased risk of tracking error, in that the securities selected in the aggregate for the Fund may </span><span style="color:#000000;font-family:Arial;font-size:10pt;">perform differently than the Index.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Large- and Mid-Cap Companies Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Investing in large- </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">and mid-cap companies carries the risk that due to current market conditions these companies may be out of favor with investors. Large-cap companies may be unable to respond quickly to new competitive challenges or attain the high growth rate of successful smaller companies. Stocks of mid-cap companies may be more volatile than those of larger companies due to, among other reasons, narrower product lines, more limited financial resources </span><span style="color:#000000;font-family:Arial;font-size:10pt;">and fewer experienced managers.</span> <span style="font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Non-Diversification Risk.</span><span style="font-family:Arial;font-size:10pt;"> In order to replicate the </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">composition of the Index, the Fund’s total assets may at times be invested in multiple issuers representing more than 5% of the Fund’s total assets. As a result, the Fund may, from time to time, become “non-diversified.” A non-diversified fund may invest a larger portion of assets in the securities of a single company than a diversified fund. By concentrating in a smaller number of issuers, the Fund’s risk is increased because the effect of each security on </span><span style="font-family:Arial;font-size:10pt;">the Fund’s performance is greater.</span> <span style="font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Derivatives Risk. </span><span style="font-family:Arial;font-size:10pt;">The prices of derivatives may move in </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">unexpected ways due to the use of leverage and other factors and may result in increased volatility or losses. The Fund may not be able to terminate or sell derivative positions, and a liquid secondary market may not always </span><span style="font-family:Arial;font-size:10pt;">exist for derivative positions.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Market Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The Fund’s share price can fall because of </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">weakness in the broad market, a particular industry, or specific holdings or due to adverse social, political or economic developments here or abroad, changes in investor psychology, technological disruptions, or heavy institutional selling and other conditions or events (including, for example, military confrontations, war, terrorism, trade wars, disease/virus outbreaks and epidemics). The prices of individual securities may fluctuate, sometimes dramatically, from day to day. The prices of stocks and other equity securities tend to be </span><span style="color:#000000;font-family:Arial;font-size:10pt;">more volatile than those of fixed-income securities.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Securities Lending Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Engaging in securities lending </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">could increase the market and credit risk for Fund investments. The Fund may lose money if it does not recover borrowed securities, the value of the collateral falls, or the value of investments made with cash collateral declines. The Fund’s loans will be collateralized by securities issued or guaranteed by the U.S. Government or its agencies and instrumentalities, which subjects the Fund to the credit risk of the U.S. Government or the </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">issuing federal agency or instrumentality. If the value of either the cash collateral or the Fund’s investments of the cash collateral falls below the amount owed to a borrower, the Fund also may incur losses that exceed the amount it earned on lending the security. Securities lending also involves the risks of delay in receiving additional collateral or possible loss of rights in the collateral if the borrower fails. Another risk of securities lending is the risk that the loaned portfolio securities may not be available to the Fund on a timely basis and the Fund may therefore lose </span><span style="color:#000000;font-family:Arial;font-size:10pt;">the opportunity to sell the securities at a desirable price.</span> <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Performance Information</span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">The below bar chart and table illustrate the risks of investing in the Fund by showing changes in the Fund’s performance from calendar year to calendar year and comparing the Fund’s average annual returns to those of the S&amp;P 500</span><span style="font-family:Arial;font-size:6.5pt;position:relative;top:-3.25pt;">®</span><span style="font-family:Arial;font-size:10pt;"> Index (a broad-based securities market </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">index), which is relevant to the Fund because it has characteristics similar to the Fund’s investment strategies.</span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">Fees and expenses incurred at the contract level are not reflected in the bar chart or table. If these amounts were reflected, returns would be less than those shown. </span><span style="font-family:Arial;font-size:10pt;">Of </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">course, past performance of the Fund is not necessarily </span><span style="font-family:Arial;font-size:10pt;">an indication of how the Fund will perform in the future.</span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">BlackRock Investment Management, LLC (“BlackRock”) assumed sub‑advisory responsibilities on April 30, 2025. Prior to this time, the Fund was subadvised by </span><span style="color:#000000;font-family:Arial;font-size:10pt;">SunAmerica Asset Management, LLC. </span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">The below bar chart and table illustrate the risks of investing in the Fund by showing changes in the Fund’s performance from calendar year to calendar year and comparing the Fund’s average annual returns to those of the S&amp;P 500</span><span style="font-family:Arial;font-size:6.5pt;position:relative;top:-3.25pt;">®</span><span style="font-family:Arial;font-size:10pt;"> Index (a broad-based securities market </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">index), which is relevant to the Fund because it has characteristics similar to the Fund’s investment strategies.</span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">Fees and expenses incurred at the contract level are not reflected in the bar chart or table. If these amounts were reflected, returns would be less than those shown. </span> <span style="font-family:Arial;font-size:10pt;">Of </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">course, past performance of the Fund is not necessarily </span><span style="font-family:Arial;font-size:10pt;">an indication of how the Fund will perform in the future.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;">During the period shown in the bar chart:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Highest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">June 30, 2020</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">20.48%</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Lowest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">March 31, 2020</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">-19.70%</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Year to Date Most </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Recent Quarter:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">June 30, 2026</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">10.08%</span> <span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Highest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span> 2020-06-30 0.2048 <span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Lowest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span> 2020-03-31 -0.1970 <span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Year to Date Most </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Recent Quarter:</span> 2026-06-30 0.1008 <span style="font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Average Annual Total Returns</span><span style="font-family:Arial;font-size:10pt;"> (For the periods ended December 31, 2025)</span> 0.1755 0.1408 0.1446 0.1788 0.1442 0.1482 <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Investment Objective</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund seeks to provide long-term growth of capital </span><span style="color:#000000;font-family:Arial;font-size:10pt;">through investment in common stocks.</span> <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Fees and Expenses of the Fund</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">This table describes the fees and expenses that you may pay if you buy, hold and sell shares of the Fund. </span><span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">The table </span><span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">and the example below do not reflect the separate account fees charged in the variable annuity or variable life insurance policy (“Variable Contracts”) in which the Fund is offered.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> If separate account fees were </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">shown, the Fund’s annual operating expenses would be higher. Please see your Variable Contract prospectus for </span><span style="color:#000000;font-family:Arial;font-size:10pt;">more details on the separate account fees.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;text-decoration:underline;">Annual Fund Operating Expenses</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> (expenses that you </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">pay each year as a percentage of the value of your </span><span style="color:#000000;font-family:Arial;font-size:10pt;">investment)</span> 0.0074 0.0011 0.0085 -0.0022 0.0063 <span style="font-family:Arial;font-size:8pt;">September 30, 2027</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-style:italic;font-weight:bold;text-decoration:underline;">Expense Example</span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem or hold all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same (except that the Example incorporates any applicable fee waiver and/or expense limitation arrangements for only the first year). The Example does not reflect charges imposed by the Variable Contract. If the </span><span style="font-family:Arial;font-size:10pt;">separate account fees were reflected, the </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">expenses would be higher. See the Variable Contract prospectus for information on such charges. Although your actual costs may be higher or lower, based on these assumptions and the net expenses shown in the fee table, </span><span style="font-family:Arial;font-size:10pt;">your costs would be:</span> 64 249 450 1029 <span style="color:#000000;font-family:Arial;font-size:10pt;font-style:italic;font-weight:bold;text-decoration:underline;">Portfolio Turnover</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). These costs, which are not reflected in annual fund operating expenses or in the Example, affect the </span><span style="color:#000000;font-family:Arial;font-size:10pt;">Fund’s performance.</span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">During the most recent fiscal year, the Fund’s portfolio </span><span style="font-family:Arial;font-size:10pt;">turnover rate was </span><span style="font-family:Arial;font-size:10pt;">58%</span><span style="font-family:Arial;font-size:10pt;"> of the average value of its portfolio.</span> 0.58 <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Principal Investment Strategies of the Fund</span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">The Fund seeks to achieve a higher risk-adjusted performance than the Russell 1000® Index (the “Index”) over the long term through a proprietary selection process employed by the Fund’s Subadviser. The Fund primarily invests in common stock of U.S. large capitalization companies included in the Index. As of </span><span style="font-family:Arial;font-size:10pt;">August 31, 2026, </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">the median stock by market capitalization in the Index was approximately $15.75 billion, and the largest stock was approximately $4.34 trillion. The size of the companies in the Index changes with market conditions and the composition of the Index. The size of the companies in which the Fund invests may be outside of this capitalization range and may change with market </span><span style="font-family:Arial;font-size:10pt;">conditions as well. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Subadviser uses a rules-based methodology that emphasizes quantitatively-based stock selection and portfolio construction and efficient implementation. The Fund seeks to capture common sources of active equity returns, including the following factors: value (i.e., how attractively a stock is priced relative to its “fundamentals,” such as book value and free cash flow), momentum (i.e., whether a company’s share price is trending up or down), quality (i.e., profitability) and low volatility (i.e., a relatively low degree of fluctuation in a company’s share price over time). The Subadviser seeks to capitalize on the low correlations in returns across these factors by diversifying exposure to securities selected based on such factors. The Subadviser may, in its discretion, make changes to its quantitative techniques, or use other quantitative techniques that are based on the Subadviser’s proprietary </span><span style="color:#000000;font-family:Arial;font-size:10pt;">research. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Subadviser constructs the Fund’s portfolio by investing in the securities comprising the Index and adjusting the relative weight of each security based on the security’s attractiveness when evaluated based on the factors as described above, subject to the Fund being constrained to long-only positions. Based on the </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">Subadviser’s process, the Fund expects that its portfolio will be overweight with respect to certain securities (i.e., the Fund will hold a greater percentage of those securities than the Index) and underweight with respect to others (i.e., the Fund will hold a lesser percentage of those securities than the Index), and that such weightings may change over time. The percentage of the Fund’s portfolio exposed to any single security will vary from time to time as the weightings of the securities within the Fund change. The degree to which components of the Fund represent </span><span style="color:#000000;font-family:Arial;font-size:10pt;">certain sectors or industries may change over time. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Subadviser will rebalance the Fund’s portfolio according to the process set forth above on a quarterly basis, and it generally employs a strategy to continue to hold securities between quarterly rebalancing, even if there are adverse developments concerning a particular security, an industry, the economy or the stock market generally. The Subadviser may reduce the position size of a security or sell the security during quarterly rebalancing if the security no longer has favorable scores in one or </span><span style="color:#000000;font-family:Arial;font-size:10pt;">more of the four factors. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">In order to generate additional income, the Fund may lend portfolio securities to broker-dealers and other financial institutions provided that the value of the loaned securities does not exceed 30% of the Fund’s total assets. These loans earn income for the Fund and are collateralized by cash and securities issued or guaranteed by the U.S. </span><span style="color:#000000;font-family:Arial;font-size:10pt;">Government or its agencies or instrumentalities.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;">Shares of the Fund are not bank deposits and </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">are not guaranteed or insured by any bank, government entity or the Federal Deposit Insurance Corporation.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;"> If the </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">value of the assets of the Fund goes down, you could lose </span><span style="color:#000000;font-family:Arial;font-size:10pt;">money.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Disciplined Strategy Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The Fund will generally not </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">deviate from its strategy, even during adverse market, economic, political, or other conditions (except to the extent necessary to comply with federal tax laws or other applicable laws). If the Fund is committed to a strategy that is unsuccessful, the Fund will not meet its investment goal. Because the Fund generally will not use certain techniques available to other mutual funds to reduce stock market exposure, the Fund may be more susceptible to </span><span style="color:#000000;font-family:Arial;font-size:10pt;">general market declines than other mutual funds.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Equity Securities Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The Fund’s investments in equity </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">securities are subject to the risk that stock prices will fall and may underperform other asset classes. Individual stock prices fluctuate from day-to-day and may decline significantly. The prices of individual stocks may be negatively affected by poor company results or other factors affecting individual prices, as well as industry and/or economic trends and developments affecting industries </span><span style="color:#000000;font-family:Arial;font-size:10pt;">or the securities market as a whole.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Factor-Based Investing Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> With respect to a strategy </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">that uses a factor-based process, there can be no assurance that the multi-factor selection process employed by the subadviser will enhance performance. Exposure to investment style factors may detract from performance in some market environments, which may </span><span style="color:#000000;font-family:Arial;font-size:10pt;">continue for prolonged periods.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Large-Cap Companies Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Large-cap companies tend </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">to go in and out of favor based on market and economic conditions and tend to be less volatile than companies with smaller market capitalizations. In exchange for this potentially lower risk, the Fund’s value may not rise as much as the value of funds that emphasize smaller capitalization companies. Larger, more established companies may be unable to respond quickly to new competitive challenges, such as changes in technology and consumer tastes. Larger companies also may not be able to attain the high growth rate of successful smaller companies, particularly during extended periods of economic expansion. Larger, more established companies may be unable to respond quickly to new competitive challenges, such as changes in technology and consumer tastes. Larger companies also may not be able to attain the high growth rate of successful smaller companies, particularly during extended periods of </span><span style="color:#000000;font-family:Arial;font-size:10pt;">economic expansion.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Management Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The investment style or strategy used </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">by a subadviser may fail to produce the intended result. A subadviser’s assessment of a particular security or company may prove incorrect, resulting in losses or </span><span style="color:#000000;font-family:Arial;font-size:10pt;">underperformance.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Market Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The Fund’s share price can fall because of </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">weakness in the broad market, a particular industry, or specific holdings or due to adverse social, political or economic developments here or abroad, changes in investor psychology, technological disruptions, or heavy institutional selling and other conditions or events (including, for example, military confrontations, war, terrorism, trade wars, disease/virus outbreaks and epidemics). The prices of individual securities may fluctuate, sometimes dramatically, from day to day. The </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">prices of stocks and other equity securities tend to be </span><span style="color:#000000;font-family:Arial;font-size:10pt;">more volatile than those of fixed-income securities.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Securities Lending Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Engaging in securities lending </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">could increase the market and credit risk for Fund investments. The Fund may lose money if it does not recover borrowed securities, the value of the collateral falls, or the value of investments made with cash collateral declines. The Fund’s loans will be collateralized by securities issued or guaranteed by the U.S. Government or its agencies and instrumentalities, which subjects the Fund to the credit risk of the U.S. Government or the issuing federal agency or instrumentality. If the value of either the cash collateral or the Fund’s investments of the cash collateral falls below the amount owed to a borrower, the Fund also may incur losses that exceed the amount it earned on lending the security. Securities lending also involves the risks of delay in receiving additional collateral or possible loss of rights in the collateral if the borrower fails. Another risk of securities lending is the risk that the loaned portfolio securities may not be available to the Fund on a timely basis and the Fund may therefore lose </span><span style="color:#000000;font-family:Arial;font-size:10pt;">the opportunity to sell the securities at a desirable price.</span> <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Performance Information</span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">The below bar chart and table illustrate the risks of investing in the Fund by showing changes in the Fund’s performance from calendar year to calendar year and comparing the Fund’s average annual returns to those of the Russell 1000</span><span style="font-family:Arial;font-size:6.5pt;position:relative;top:-3.25pt;">®</span><span style="font-family:Arial;font-size:10pt;"> Index (a broad-based securities market </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">index), which is relevant to the Fund because it has characteristics similar to the Fund’s investment strategies.</span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">Fees and expenses incurred at the contract level are not reflected in the bar chart or table. If these amounts were reflected, returns would be less than those shown. </span><span style="font-family:Arial;font-size:10pt;">Of </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">course, past performance of the Fund is not necessarily </span><span style="font-family:Arial;font-size:10pt;">an indication of how the Fund will perform in the future.</span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">Effective April 27, 2020, Goldman Sachs Asset Management L.P. (“GSAM”) assumed subadvisory responsibility for the Fund. From September 16, 2013 to April 26, 2020, the Fund was subadvised by J.P. Morgan </span><span style="font-family:Arial;font-size:10pt;">Investment Management, Inc. </span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">The below bar chart and table illustrate the risks of investing in the Fund by showing changes in the Fund’s performance from calendar year to calendar year and comparing the Fund’s average annual returns to those of the Russell 1000</span><span style="font-family:Arial;font-size:6.5pt;position:relative;top:-3.25pt;">®</span><span style="font-family:Arial;font-size:10pt;"> Index (a broad-based securities market </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">index), which is relevant to the Fund because it has characteristics similar to the Fund’s investment strategies.</span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">Fees and expenses incurred at the contract level are not reflected in the bar chart or table. If these amounts were reflected, returns would be less than those shown. </span> <span style="font-family:Arial;font-size:10pt;">Of </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">course, past performance of the Fund is not necessarily </span><span style="font-family:Arial;font-size:10pt;">an indication of how the Fund will perform in the future.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;">During the period shown in the bar chart:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Highest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">June 30, 2020</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">23.30%</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Lowest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">March 31, 2020</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">-19.58%</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Year to Date Most </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Recent Quarter:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">June 30, 2026</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">6.54%</span> <span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Highest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span> 2020-06-30 0.2330 <span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Lowest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span> 2020-03-31 -0.1958 <span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Year to Date Most </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Recent Quarter:</span> 2026-06-30 0.0654 <span style="font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Average Annual Total Returns</span><span style="font-family:Arial;font-size:10pt;"> (For the periods ended December 31, 2025)</span> 0.1477 0.1245 0.1389 0.1737 0.1359 0.1459 <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Investment Objective</span> <span style="color:#000000;font-family:Arial;font-size:10pt;">The Fund seeks total return.</span> <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Fees and Expenses of the Fund</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">This table describes the fees and expenses that you may pay if you buy, hold and sell shares of the Fund. </span><span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">The table </span><span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">and the example below do not reflect the separate account fees charged in the variable annuity or variable life insurance policy (“Variable Contracts”) in which the Fund is offered.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> If separate account fees were </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">shown, the Fund’s annual operating expenses would be higher. Please see your Variable Contract prospectus for </span><span style="color:#000000;font-family:Arial;font-size:10pt;">more details on the separate account fees.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;text-decoration:underline;">Annual Fund Operating Expenses</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> (expenses that you </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">pay each year as a percentage of the value of your </span><span style="color:#000000;font-family:Arial;font-size:10pt;">investment)</span> 0.0072 0.0010 0.0082 -0.0018 0.0064 <span style="font-family:Arial;font-size:8pt;">September 30, 2027</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-style:italic;font-weight:bold;text-decoration:underline;">Expense Example</span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem or hold all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same (except that the Example incorporates any applicable fee waiver and/or expense limitation arrangements for only the first year). The Example does not reflect charges imposed by the Variable Contract. If the </span><span style="font-family:Arial;font-size:10pt;">separate account fees were reflected, the </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">expenses would be higher. See the Variable Contract prospectus for information on such charges. Although your actual costs may be higher or lower, based on these </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">assumptions and the net expenses shown in the fee table, </span><span style="color:#000000;font-family:Arial;font-size:10pt;">your costs would be:</span> 65 244 437 997 <span style="color:#000000;font-family:Arial;font-size:10pt;font-style:italic;font-weight:bold;text-decoration:underline;">Portfolio Turnover</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). These costs, which are not reflected in annual fund operating expenses or in the Example, affect the </span><span style="color:#000000;font-family:Arial;font-size:10pt;">Fund’s performance.</span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">During the most recent fiscal year, the Fund’s portfolio </span><span style="font-family:Arial;font-size:10pt;">turnover rate was </span><span style="font-family:Arial;font-size:10pt;">41%</span><span style="font-family:Arial;font-size:10pt;"> of the average value of its portfolio.</span> 0.41 <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Principal Investment Strategies of the Fund</span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">The Fund attempts to achieve its investment objective by investing, under normal circumstances, at least 80% of its net assets in securities of growth companies.</span><span style="font-family:Arial;font-size:10pt;">For </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">purposes of the Fund’s 80% investment policy, a company is considered to be a growth company if it: (i) issues securities that are represented in a third-party growth-style index or that are classified as a growth company by a third-party vendor; or (ii) meets a relevant equity market measurement in at least one “growth metric” similar to those commonly used by third-party index providers or third-party vendors in growth classifications, such as earnings growth, price-to-earnings or sales growth, </span><span style="font-family:Arial;font-size:10pt;">among others.</span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">The Fund invests primarily in equity securities of issuers included in the Russell 1000</span><span style="font-family:Arial;font-size:6.5pt;position:relative;top:-3.25pt;">®</span><span style="font-family:Arial;font-size:10pt;"> Growth Index (the “Index”) </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">at the time of purchase. The Index is comprised of U.S. large- and mid-cap companies that exhibit certain growth characteristics, as defined by the index provider. As of </span><span style="font-family:Arial;font-size:10pt;">August 31, 2026, the median stock by market </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">capitalization in the Index was approximately $</span><span style="font-family:Arial;font-size:10pt;">27.208 billion, and the largest stock was approximately </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">$</span><span style="font-family:Arial;font-size:10pt;">5.364 trillion. The size of the companies in the Index </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">changes with market conditions and the composition of the Index. The size of the companies in which the Fund invests may be outside of this capitalization range and </span><span style="font-family:Arial;font-size:10pt;">may change with market conditions as well. </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">The equity securities in which the Fund invests include common stock, preferred stock, convertible securities, rights, and warrants. The Fund may at times have significant exposure to one or more industries or sectors</span><span style="font-family:Arial;font-size:10pt;">, </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">such as the information technology sector,</span><span style="font-family:Arial;font-size:10pt;"> and may be </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">overweight with respect to certain securities (i.e., the Fund will hold a greater percentage of those securities than the Index) and underweight with respect to others (i.e., the </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">Fund will hold a lesser percentage of those securities than </span><span style="color:#000000;font-family:Arial;font-size:10pt;">the Index). Such weightings may change over time. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">Each of the Fund’s subadvisers manages a portion of the Fund’s assets using different investment strategies and </span><span style="color:#000000;font-family:Arial;font-size:10pt;">techniques. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">One subadviser employs a proprietary, dynamic multifactor approach to managing the Fund’s assets that is based on quantitative and qualitative research and analysis. In selecting securities, the subadviser seeks to allocate its portion of the Fund’s assets to equity securities the subadviser believes share complementary factor exposures. Factors are characteristics that are important in explaining the returns and risks of a group of securities. Among the factors that the subadviser uses to select equity securities for the Fund are: (1) mean reversion (e.g., stocks that are inexpensive relative to their historical fundamentals); (2) trend following (e.g., strong momentum and higher growth potential); and (3) risk aversion (e.g., financially healthy, stable, and lower volatility companies). In exceptional circumstances, the subadviser may exclude, remove, or include an issuer or security in the Fund’s portfolio where it believes the data available does not accurately reflect current events, or to adjust the risk profile of the Fund appropriately. The subadviser may engage in frequent and active trading of portfolio securities with respect to its portion of the Fund’s </span><span style="color:#000000;font-family:Arial;font-size:10pt;">assets. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The other subadviser uses a rules-based methodology that emphasizes quantitatively based stock selection, portfolio construction, and efficient implementation to seek to capture common sources of active equity returns among factors. Among the factors that the subadviser’s methodology employs are: (1) value (i.e., how attractively a stock is priced relative to its “fundamentals,” such as book value and free cash flow); (2) momentum (i.e., whether a company’s share price is trending up or down); (3) quality (i.e., profitability) and (4) low volatility (i.e., a relatively low degree of fluctuation in a company’s share price over time). The subadviser seeks to capitalize on the low correlations in returns across these factors by diversifying exposure to securities selected based on such factors. The subadviser may, in its discretion, make changes to its quantitative techniques, or use other quantitative techniques that are based on the subadviser’s </span><span style="color:#000000;font-family:Arial;font-size:10pt;">proprietary research. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The subadviser constructs its portion of the Fund’s portfolio by investing assets in the securities comprising the Index and adjusting the relative weight of each security based on the security’s attractiveness when evaluated based on the factors as described above, subject to the Fund being constrained to long-only positions. The subadviser will rebalance its portion of the </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">Fund’s portfolio according to the process set forth above on a quarterly basis. The subadviser generally employs a strategy to continue to hold securities between quarterly rebalancings, even if there are adverse developments concerning a particular security, an industry, the economy, or the stock market generally. The subadviser may reduce the position size of a security or sell a security during quarterly rebalancings if the security no longer has </span><span style="color:#000000;font-family:Arial;font-size:10pt;">favorable scores in one or more of the four factors.  </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">In order to generate additional income, the Fund may lend portfolio securities to broker-dealers and other financial institutions provided that the value of the loaned securities does not exceed 30% of the Fund’s total assets. These loans earn income for the Fund and are collateralized by cash and securities issued or guaranteed by the U.S. </span><span style="color:#000000;font-family:Arial;font-size:10pt;">Government or its agencies or instrumentalities. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund is a non-diversified fund, which means that it may invest in a smaller number of issuers than a </span><span style="color:#000000;font-family:Arial;font-size:10pt;">diversified fund. </span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">The Fund attempts to achieve its investment objective by investing, under normal circumstances, at least 80% of its net assets in securities of growth companies.</span> <span style="font-family:Arial;font-size:10pt;">For </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">purposes of the Fund’s 80% investment policy, a company is considered to be a growth company if it: (i) issues securities that are represented in a third-party growth-style index or that are classified as a growth company by a third-party vendor; or (ii) meets a relevant equity market measurement in at least one “growth metric” similar to those commonly used by third-party index providers or third-party vendors in growth classifications, such as earnings growth, price-to-earnings or sales growth, </span><span style="font-family:Arial;font-size:10pt;">among others.</span> <span style="font-family:Arial;font-size:10pt;">For </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">purposes of the Fund’s 80% investment policy, a company is considered to be a growth company if it: (i) issues securities that are represented in a third-party growth-style index or that are classified as a growth company by a third-party vendor; or (ii) meets a relevant equity market measurement in at least one “growth metric” similar to those commonly used by third-party index providers or third-party vendors in growth classifications, such as earnings growth, price-to-earnings or sales growth, </span><span style="font-family:Arial;font-size:10pt;">among others.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;">Shares of the Fund are not bank deposits and </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">are not guaranteed or insured by any bank, government entity or the Federal Deposit Insurance Corporation.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;"> If the </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">value of the assets of the Fund goes down, you could lose </span><span style="color:#000000;font-family:Arial;font-size:10pt;">money.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Management Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The investment style or strategy used </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">by a subadviser may fail to produce the intended result. A subadviser’s assessment of a particular security or company may prove incorrect, resulting in losses or </span><span style="color:#000000;font-family:Arial;font-size:10pt;">underperformance.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Equity Securities Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The Fund invests principally in </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">equity securities and is therefore subject to the risk that stock prices will fall and may underperform other asset classes. Individual stock prices fluctuate from day-to-day and may decline significantly. The prices of individual stocks may be negatively affected by poor company results or other factors affecting individual prices, as well as industry and/or economic trends and developments </span><span style="color:#000000;font-family:Arial;font-size:10pt;">affecting industries or the securities market as a whole.</span> <span style="font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Growth Style Risk.</span><span style="font-family:Arial;font-size:10pt;"> Generally, “growth” stocks are stocks </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">of companies that </span><span style="font-family:Arial;font-size:10pt;">have anticipated earnings ranging from </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">steady to accelerated growth. Many investors buy growth </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">stocks because of anticipated superior earnings growth, but earnings disappointments often result in sharp price declines. Growth companies usually invest a high portion of earnings in their own businesses so their stocks may lack the dividends that can cushion share prices in a down market. In addition, the value of growth stocks may be more sensitive to changes in current or expected earnings than the value of other stocks, because growth stocks </span><span style="color:#000000;font-family:Arial;font-size:10pt;">trade at higher prices relative to current earnings.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Factor-Based Investing Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> There can be no </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">assurance that the factor selection process employed by the portfolio managers will enhance performance. Exposure to factors may detract from performance in some market environments, which may continue for </span><span style="color:#000000;font-family:Arial;font-size:10pt;">prolonged periods.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Large- and Mid-Cap Companies Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Investing in large- </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">and mid-cap companies carries the risk that due to current market conditions these companies may be out of favor with investors. Large-cap companies may be unable to respond quickly to new competitive challenges or attain the high growth rate of successful smaller companies. Stocks of mid-cap companies may be more volatile than those of larger companies due to, among other reasons, narrower product lines, more limited financial resources </span><span style="color:#000000;font-family:Arial;font-size:10pt;">and fewer experienced managers.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Preferred Stock Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Unlike common stock, preferred </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">stock generally pays a fixed dividend from a company’s earnings and may have a preference over common stock on the distribution of a company’s assets in the event of bankruptcy or liquidation. Preferred stockholders’ liquidation rights are subordinate to the company’s debt holders and creditors. If interest rates rise, the fixed dividend on preferred stocks may be less attractive and the price of preferred stocks may decline. Preferred </span><span style="color:#000000;font-family:Arial;font-size:10pt;">stockholders typically do not have voting rights.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Convertible Securities Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Convertible security values </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">may be affected by market interest rates, issuer defaults and underlying common stock values; security values may fall if market interest rates rise and rise if market interest rates fall. Additionally, an issuer may have the right to buy back the securities at a time unfavorable to the </span><span style="color:#000000;font-family:Arial;font-size:10pt;">Fund.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Warrants and Rights Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Warrants and rights can </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">provide a greater potential for profit or loss than an equivalent investment in the underlying security. Warrants and rights have no voting rights, pay no dividends and have no rights with respect to the assets of the issuer other than a purchase option. Prices of warrants and rights do not necessarily move in tandem with the prices of the underlying securities and therefore are highly volatile and speculative investments. Warrants and rights </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">may lack a liquid secondary market for resale. </span><span style="font-family:Arial;font-size:10pt;">If a warrant </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">or right held by the Fund is not exercised by the date of its expiration, the Fund would lose the entire purchase price </span><span style="font-family:Arial;font-size:10pt;">of the warrant or right.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Quantitative Investing Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The value of securities </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">selected using quantitative analysis can react differently to issuer, political, market, and economic developments from the market as a whole or securities selected using only fundamental analysis. The factors used in quantitative analysis and the weight placed on those factors may not be predictive of a security’s value. In addition, factors that affect a security’s value can change over time and these </span><span style="color:#000000;font-family:Arial;font-size:10pt;">changes may not be reflected in the quantitative model.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Sector Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Companies with similar characteristics may </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">be grouped together in broad categories called sectors. Sector risk is the risk that securities of companies within specific sectors of the economy can perform differently than the overall market. This may be due to changes in such things as the regulatory or competitive environment or to changes in investor perceptions regarding a sector. Because the Fund may allocate relatively more assets to certain sectors than others, the Fund’s performance may be more susceptible to any developments which affect </span><span style="color:#000000;font-family:Arial;font-size:10pt;">those sectors emphasized by the Fund.</span> <span style="font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Technology Sector Risk.</span><span style="font-family:Arial;font-size:10pt;"> Technology stocks historically </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">have experienced unusually wide price swings. Earnings disappointments and intense competition for market share can result in sharp declines in the prices of technology </span><span style="font-family:Arial;font-size:10pt;">stocks.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Active Trading Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> High portfolio turnover rates that </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">are associated with active trading may result in higher transaction costs, which can adversely affect the Fund’s performance. Active trading tends to be more pronounced </span><span style="color:#000000;font-family:Arial;font-size:10pt;">during periods of increased market volatility.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Market Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The Fund’s share price can fall because of </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">weakness in the broad market, a particular industry, or specific holdings or due to adverse social, political or economic developments here or abroad, changes in investor psychology, technological disruptions, or heavy institutional selling and other conditions or events (including, for example, military confrontations, war, terrorism, trade wars, disease/virus outbreaks and epidemics). The prices of individual securities may fluctuate, sometimes dramatically, from day to day. The prices of stocks and other equity securities tend to be </span><span style="color:#000000;font-family:Arial;font-size:10pt;">more volatile than those of fixed-income securities.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Non-Diversification Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Because the Fund may invest </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">in a smaller number of issuers, its value may be affected to a greater extent by the performance of any one of those issuers or by any single economic, political, market or </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">regulatory event affecting any one of those issues than a </span><span style="color:#000000;font-family:Arial;font-size:10pt;">fund that invests in a larger number of issuers.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Securities Lending Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Engaging in securities lending </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">could increase the market and credit risk for Fund investments. The Fund may lose money if it does not recover borrowed securities, the value of the collateral falls, or the value of investments made with cash collateral declines. The Fund’s loans will be collateralized by securities issued or guaranteed by the U.S. Government or its agencies and instrumentalities, which subjects the Fund to the credit risk of the U.S. Government or the issuing federal agency or instrumentality. If the value of either the cash collateral or the Fund’s investments of the cash collateral falls below the amount owed to a borrower, the Fund also may incur losses that exceed the amount it earned on lending the security. Securities lending also involves the risks of delay in receiving additional collateral or possible loss of rights in the collateral if the borrower fails. Another risk of securities lending is the risk that the loaned portfolio securities may not be available to the Fund on a timely basis and the Fund may therefore lose </span><span style="color:#000000;font-family:Arial;font-size:10pt;">the opportunity to sell the securities at a desirable price.</span> <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Performance Information</span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">The below bar chart and table illustrate the risks of investing in the Fund by showing changes in the Fund’s performance from calendar year to calendar year and comparing the Fund’s average annual returns to those of the S&amp;P 500</span><span style="font-family:Arial;font-size:6.5pt;position:relative;top:-3.25pt;">®</span><span style="font-family:Arial;font-size:10pt;"> Index (a broad-based securities market </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">index) and the Russell 1000</span><span style="font-family:Arial;font-size:6.5pt;position:relative;top:-3.25pt;">®</span><span style="font-family:Arial;font-size:10pt;"> Growth Index, which is </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">relevant to the Fund because it has characteristics similar to the Fund’s investment strategies. </span><span style="font-family:Arial;font-size:10pt;">The Fund’s returns </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">prior to May 1, 2023, as reflected in the bar chart and table, are the returns of the Fund when it followed different investment strategies under the name “Blue Chip Growth Fund.”</span><span style="font-family:Arial;font-size:10pt;"> Fees and expenses incurred at the contract level </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">are not reflected in the bar chart or table. If these amounts were reflected, returns would be less than those shown. </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">Of course, past performance of the Fund is not </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">necessarily an indication of how the Fund will perform in </span><span style="font-family:Arial;font-size:10pt;">the future.</span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">Effective May 1, 2023, Goldman Sachs Asset Management, L.P. (“GSAM”) and Wellington Management Company LLP (“Wellington Management”) assumed </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">subadvisory responsibilities for the Fund. Prior to May 1, 2023, T. Rowe Price Associates, Inc. served as subadviser </span><span style="font-family:Arial;font-size:10pt;">to the Fund.</span> <br/><span style="font-family:Arial;font-size:10pt;margin-left:0%;">The percentage of the Fund’s assets that each subadviser manages may, at the adviser’s discretion, change from </span><span style="font-family:Arial;font-size:10pt;">time to time. </span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">The below bar chart and table illustrate the risks of investing in the Fund by showing changes in the Fund’s performance from calendar year to calendar year and comparing the Fund’s average annual returns to those of the S&amp;P 500</span><span style="font-family:Arial;font-size:6.5pt;position:relative;top:-3.25pt;">®</span><span style="font-family:Arial;font-size:10pt;"> Index (a broad-based securities market </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">index) and the Russell 1000</span><span style="font-family:Arial;font-size:6.5pt;position:relative;top:-3.25pt;">®</span><span style="font-family:Arial;font-size:10pt;"> Growth Index, which is </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">relevant to the Fund because it has characteristics similar to the Fund’s investment strategies. </span><span style="font-family:Arial;font-size:10pt;">The Fund’s returns </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">prior to May 1, 2023, as reflected in the bar chart and table, are the returns of the Fund when it followed different investment strategies under the name “Blue Chip Growth Fund.”</span> <span style="font-family:Arial;font-size:10pt;"> Fees and expenses incurred at the contract level </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">are not reflected in the bar chart or table. If these amounts were reflected, returns would be less than those shown. </span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">Of course, past performance of the Fund is not </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">necessarily an indication of how the Fund will perform in </span><span style="font-family:Arial;font-size:10pt;">the future.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;">During the period shown in the bar chart:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Highest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">June 30, 2020</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">27.59%</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Lowest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">June 30, 2022</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">-25.46%</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Year to Date Most </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Recent Quarter:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">June 30, 2026</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">2.33%</span> <span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Highest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span> 2020-06-30 0.2759 <span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Lowest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span> 2022-06-30 -0.2546 <span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Year to Date Most </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Recent Quarter:</span> 2026-06-30 0.0233 <span style="font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Average Annual Total Returns</span><span style="font-family:Arial;font-size:10pt;"> (For the periods ended December 31, 2025)</span> 0.1766 0.1029 0.1483 0.1788 0.1442 0.1482 0.1856 0.1532 0.1813 <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Investment Objective</span> <span style="color:#000000;font-family:Arial;font-size:10pt;">The Fund seeks total return through capital appreciation.</span> <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Fees and Expenses of the Fund</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">This table describes the fees and expenses that you may pay if you buy, hold and sell shares of the Fund. </span><span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">The table </span><span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">and the example below do not reflect the separate account fees charged in the variable annuity or variable life insurance policy (“Variable Contracts”) in which the Fund is offered.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> If separate account fees were </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">shown, the Fund’s annual operating expenses would be higher. Please see your Variable Contract prospectus for </span><span style="color:#000000;font-family:Arial;font-size:10pt;">more details on the separate account fees.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;text-decoration:underline;">Annual Fund Operating Expenses</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> (expenses that you </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">pay each year as a percentage of the value of your </span><span style="color:#000000;font-family:Arial;font-size:10pt;">investment)</span> 0.0067 0.0011 0.0078 -0.0014 0.0064 <span style="font-family:Arial;font-size:8pt;">September 30, 2027</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-style:italic;font-weight:bold;text-decoration:underline;">Expense Example</span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem or hold all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same (except that the Example incorporates any applicable fee waiver and/or expense limitation arrangements for only the first year). The Example does not reflect charges imposed by the Variable Contract. If the </span><span style="font-family:Arial;font-size:10pt;">separate account fees were reflected, the </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">expenses would be higher. See the Variable Contract prospectus for information on such charges. Although your actual costs may be higher or lower, based on these assumptions and the net expenses shown in the fee table, </span><span style="font-family:Arial;font-size:10pt;">your costs would be:</span> 65 235 420 953 <span style="color:#000000;font-family:Arial;font-size:10pt;font-style:italic;font-weight:bold;text-decoration:underline;">Portfolio Turnover</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). These costs, which are not reflected in annual fund operating expenses or in the Example, affect the </span><span style="color:#000000;font-family:Arial;font-size:10pt;">Fund’s performance.</span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">During the most recent fiscal year, the Fund’s portfolio </span><span style="font-family:Arial;font-size:10pt;">turnover rate was </span><span style="font-family:Arial;font-size:10pt;">93%</span><span style="font-family:Arial;font-size:10pt;"> of the average value of its portfolio.</span> 0.93 <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Principal Investment Strategies of the Fund</span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">The Fund attempts to achieve its investment objective by investing, under normal circumstances, at least 80% of its net assets in securities of value companies.</span><span style="font-family:Arial;font-size:10pt;">For purposes </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">of the Fund’s 80% investment policy, a company is considered to be a value company if it: (i) issues securities that are represented in a third-party value-style index or that are classified as a value company by a third-party vendor; or (ii) meets a relevant equity market measurement in at least one “value metric” similar to those commonly used by third-party index providers or third-party vendors in value classifications, such as earnings growth, price-to-earnings or sales growth, </span><span style="font-family:Arial;font-size:10pt;">among others.</span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">The Fund </span><span style="font-family:Arial;font-size:10pt;">invests primarily in equity securities of U.S. </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">large- and mid-cap companies. Companies are determined to be large- or mid-cap based on the inclusion of their equity securities in the Russell 1000® Value Index, whose constituents are companies that exhibit certain value qualities, as defined by the index provider, such as lower price-to-book ratios and lower expected growth values. As of </span><span style="font-family:Arial;font-size:10pt;">August 31, 2026, the median stock by </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">market capitalization in the Index was approximately $</span><span style="font-family:Arial;font-size:10pt;">16.101</span><span style="font-family:Arial;font-size:10pt;line-height:12pt;"> </span><span style="font-family:Arial;font-size:10pt;">million, and the largest stock was approximately </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">$</span><span style="font-family:Arial;font-size:10pt;">4.647 trillion. The size of the companies in the Index </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">changes with market conditions and the composition of the Index. The equity securities in which the Fund invests include common stock, preferred stock, convertible </span><span style="font-family:Arial;font-size:10pt;">securities, rights and warrants. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The subadviser employs a proprietary, dynamic multi-factor approach to managing the Fund’s assets that is based on quantitative and qualitative research and analysis. In selecting securities, the subadviser seeks to allocate the Fund’s assets to equity securities that the subadviser believes share complementary factor exposures. Factors are characteristics that are important in explaining the returns and risks of a group of securities. Among the kinds of factors that the subadviser uses to select equity securities for the Fund are: (1) mean </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">reversion (e.g., stocks that are inexpensive relative to their historical fundamentals); (2) trend following (e.g., strong momentum and higher growth potential); and (3) risk aversion (e.g., financially healthy, stable, and lower volatility companies). In exceptional circumstances, the subadviser may exclude, remove or include an issuer or security in the Fund where it believes the data available does not accurately reflect current events, or to adjust the </span><span style="color:#000000;font-family:Arial;font-size:10pt;">risk profile of the Fund appropriately. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The subadviser may engage in frequent and active trading of portfolio securities to achieve the Fund’s investment </span><span style="color:#000000;font-family:Arial;font-size:10pt;">objective. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">In order to generate additional income, the Fund may lend portfolio securities to broker-dealers and other financial institutions provided that the value of the loaned securities does not exceed 30% of the Fund’s total assets. These loans earn income for the Fund and are collateralized by cash and securities issued or guaranteed by the U.S. </span><span style="color:#000000;font-family:Arial;font-size:10pt;">Government or its agencies or instrumentalities.</span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">The Fund attempts to achieve its investment objective by investing, under normal circumstances, at least 80% of its net assets in securities of value companies.</span> <span style="font-family:Arial;font-size:10pt;">For purposes </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">of the Fund’s 80% investment policy, a company is considered to be a value company if it: (i) issues securities that are represented in a third-party value-style index or that are classified as a value company by a third-party vendor; or (ii) meets a relevant equity market measurement in at least one “value metric” similar to those commonly used by third-party index providers or third-party vendors in value classifications, such as earnings growth, price-to-earnings or sales growth, </span><span style="font-family:Arial;font-size:10pt;">among others.</span> <span style="font-family:Arial;font-size:10pt;">For purposes </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">of the Fund’s 80% investment policy, a company is considered to be a value company if it: (i) issues securities that are represented in a third-party value-style index or that are classified as a value company by a third-party vendor; or (ii) meets a relevant equity market measurement in at least one “value metric” similar to those commonly used by third-party index providers or third-party vendors in value classifications, such as earnings growth, price-to-earnings or sales growth, </span><span style="font-family:Arial;font-size:10pt;">among others.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;">Shares of the Fund are not bank deposits and </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">are not guaranteed or insured by any bank, government entity or the Federal Deposit Insurance Corporation.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;"> If the </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">value of the assets of the Fund goes down, you could lose </span><span style="color:#000000;font-family:Arial;font-size:10pt;">money.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Management Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The investment style or strategy used </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">by a subadviser may fail to produce the intended result. A subadviser’s assessment of a particular security or company may prove incorrect, resulting in losses or </span><span style="color:#000000;font-family:Arial;font-size:10pt;">underperformance.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Equity Securities Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The Fund invests principally in </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">equity securities and is therefore subject to the risk that stock prices will fall and may underperform other asset classes. Individual stock prices fluctuate from day-to-day and may decline significantly. The prices of individual stocks may be negatively affected by poor company results or other factors affecting individual prices, as well as industry and/or economic trends and developments </span><span style="color:#000000;font-family:Arial;font-size:10pt;">affecting industries or the securities market as a whole.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Factor-Based Investing Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> With respect to a strategy </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">that uses a factor-based process, there can be no assurance that the multi-factor selection process employed by the subadviser will enhance performance. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">Exposure to investment style factors may detract from performance in some market environments, which may </span><span style="color:#000000;font-family:Arial;font-size:10pt;">continue for prolonged periods.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Preferred Stock Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Unlike common stock, preferred </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">stock generally pays a fixed dividend from a company’s earnings and may have a preference over common stock on the distribution of a company’s assets in the event of bankruptcy or liquidation. Preferred stockholders’ liquidation rights are subordinate to the company’s debt holders and creditors. If interest rates rise, the fixed dividend on preferred stocks may be less attractive and the price of preferred stocks may decline. Preferred </span><span style="color:#000000;font-family:Arial;font-size:10pt;">stockholders typically do not have voting rights.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Convertible Securities Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Convertible security values </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">may be affected by market interest rates, issuer defaults and underlying common stock values; security values may fall if market interest rates rise and rise if market interest rates fall. Additionally, an issuer may have the right to buy back the securities at a time unfavorable to the </span><span style="color:#000000;font-family:Arial;font-size:10pt;">Fund.</span> <span style="font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Warrants and Rights Risk.</span><span style="font-family:Arial;font-size:10pt;"> Warrants and rights can </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">provide a greater potential for profit or loss than an equivalent investment in the underlying security. Warrants and rights have no voting rights, pay no dividends and have no rights with respect to the assets of the issuer other than a purchase option. Prices of warrants and rights do not necessarily move in tandem with the prices of the underlying securities and therefore are highly volatile and speculative investments. Warrants and rights may lack a liquid secondary market for resale. </span><span style="font-family:Arial;font-size:10pt;">If a warrant </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">or right held by the Fund is not exercised by the date of its expiration, the Fund would lose the entire purchase price </span><span style="font-family:Arial;font-size:10pt;">of the warrant or right.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Large- and Mid-Cap Companies Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Investing in large- </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">and mid-cap companies carries the risk that due to current market conditions these companies may be out of favor with investors. Large-cap companies may be unable to respond quickly to new competitive challenges or attain the high growth rate of successful smaller companies. Stocks of mid-cap companies may be more volatile than those of larger companies due to, among other reasons, narrower product lines, more limited financial resources </span><span style="color:#000000;font-family:Arial;font-size:10pt;">and fewer experienced managers.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Market Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The Fund’s share price can fall because of </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">weakness in the broad market, a particular industry, or specific holdings or due to adverse social, political or economic developments here or abroad, changes in investor psychology, technological disruptions, or heavy institutional selling and other conditions or events (including, for example, military confrontations, war, terrorism, trade wars, disease/virus outbreaks and </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">epidemics). The prices of individual securities may fluctuate, sometimes dramatically, from day to day. The prices of stocks and other equity securities tend to be </span><span style="color:#000000;font-family:Arial;font-size:10pt;">more volatile than those of fixed-income securities.</span> <span style="font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Value Style Risk.</span><span style="font-family:Arial;font-size:10pt;"> Generally, “value” stocks are stocks of </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">companies that </span><span style="font-family:Arial;font-size:10pt;">are considered to be currently </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">undervalued in the marketplace</span><span style="font-family:Arial;font-size:10pt;">. The assessment that a </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">particular security is undervalued in relation to the company’s fundamental economic value may prove incorrect</span><span style="font-family:Arial;font-size:10pt;">, and the price of the company’s stock may fall or may not approach the value that has been attributed to it.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Quantitative Investing Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The value of securities </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">selected using quantitative analysis can react differently to issuer, political, market, and economic developments from the market as a whole or securities selected using only fundamental analysis. The factors used in quantitative analysis and the weight placed on those factors may not be predictive of a security’s value. In addition, factors that affect a security’s value can change over time and these </span><span style="color:#000000;font-family:Arial;font-size:10pt;">changes may not be reflected in the quantitative model.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Sector Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Companies with similar characteristics may </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">be grouped together in broad categories called sectors. Sector risk is the risk that securities of companies within specific sectors of the economy can perform differently than the overall market. This may be due to changes in such things as the regulatory or competitive environment or to changes in investor perceptions regarding a sector. Because the Fund may allocate relatively more assets to certain sectors than others, the Fund’s performance may be more susceptible to any developments which affect </span><span style="color:#000000;font-family:Arial;font-size:10pt;">those sectors emphasized by the Fund.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Active Trading Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> High portfolio turnover rates that </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">are associated with active trading may result in higher transaction costs, which can adversely affect the Fund’s performance. Active trading tends to be more pronounced </span><span style="color:#000000;font-family:Arial;font-size:10pt;">during periods of increased market volatility.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Securities Lending Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Engaging in securities lending </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">could increase the market and credit risk for Fund investments. The Fund may lose money if it does not recover borrowed securities, the value of the collateral falls, or the value of investments made with cash collateral declines. The Fund’s loans will be collateralized by securities issued or guaranteed by the U.S. Government or its agencies and instrumentalities, which subjects the Fund to the credit risk of the U.S. Government or the issuing federal agency or instrumentality. If the value of either the cash collateral or the Fund’s investments of the </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">cash collateral falls below the amount owed to a borrower, the Fund also may incur losses that exceed the amount it earned on lending the security. Securities lending also involves the risks of delay in receiving additional collateral or possible loss of rights in the collateral if the borrower fails. Another risk of securities lending is the risk that the loaned portfolio securities may not be available to the Fund on a timely basis and the Fund may therefore lose </span><span style="color:#000000;font-family:Arial;font-size:10pt;">the opportunity to sell the securities at a desirable price.</span> <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Performance Information</span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">The below bar chart and table illustrate the risks of investing in the Fund by showing changes in the Fund’s performance from calendar year to calendar year and comparing the Fund’s average annual returns to those of the S&amp;P 500</span><span style="font-family:Arial;font-size:6.5pt;position:relative;top:-3.25pt;">®</span><span style="font-family:Arial;font-size:10pt;"> Index (a broad-based securities market </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">index) and the Russell 1000</span><span style="font-family:Arial;font-size:6.5pt;position:relative;top:-3.25pt;">®</span><span style="font-family:Arial;font-size:10pt;"> Value Index, which is </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">relevant to the Fund because it has characteristics similar to the Fund’s investment strategies.</span><span style="font-family:Arial;font-size:10pt;"> Fees and expenses </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">incurred at the contract level are not reflected in the bar chart or table. If these amounts were reflected, returns would be less than those shown. </span><span style="font-family:Arial;font-size:10pt;">Of course, past </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">performance of the Fund is not necessarily an indication </span><span style="font-family:Arial;font-size:10pt;">of how the Fund will perform in the future.</span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">Effective October 1, 2019, the Fund’s investment strategy changed from investing in a combination of U.S. and foreign equity securities to investing solely in U.S. equity </span><span style="color:#000000;font-family:Arial;font-size:10pt;">securities.</span> <br/> <br/><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">Prior to October 1, 2019, the Fund was subadvised by Barrow, Hanley, Mewhinney &amp; Strauss, LLC. Wellington Management Company LLP (“Wellington Management”) assumed subadvisory duties for the Fund on October 1, </span><span style="color:#000000;font-family:Arial;font-size:10pt;">2019. </span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">The below bar chart and table illustrate the risks of investing in the Fund by showing changes in the Fund’s performance from calendar year to calendar year and comparing the Fund’s average annual returns to those of the S&amp;P 500</span><span style="font-family:Arial;font-size:6.5pt;position:relative;top:-3.25pt;">®</span><span style="font-family:Arial;font-size:10pt;"> Index (a broad-based securities market </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">index) and the Russell 1000</span><span style="font-family:Arial;font-size:6.5pt;position:relative;top:-3.25pt;">®</span><span style="font-family:Arial;font-size:10pt;"> Value Index, which is </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">relevant to the Fund because it has characteristics similar to the Fund’s investment strategies.</span> <span style="font-family:Arial;font-size:10pt;"> Fees and expenses </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">incurred at the contract level are not reflected in the bar chart or table. If these amounts were reflected, returns would be less than those shown. </span> <span style="font-family:Arial;font-size:10pt;">Of course, past </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">performance of the Fund is not necessarily an indication </span><span style="font-family:Arial;font-size:10pt;">of how the Fund will perform in the future.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;">During the period shown in the bar chart:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Highest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">June 30, 2020</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">13.03%</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Lowest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">March 31, 2020</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">-25.91%</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Year to Date Most </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Recent Quarter:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">June 30, 2026</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">14.53%</span> <span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Highest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span> 2020-06-30 0.1303 <span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Lowest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span> 2020-03-31 -0.2591 <span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Year to Date Most </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Recent Quarter:</span> 2026-06-30 0.1453 <span style="font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Average Annual Total Returns</span><span style="font-family:Arial;font-size:10pt;"> (For the periods ended December 31, 2025)</span> 0.1741 0.1325 0.1031 0.1788 0.1442 0.1482 0.1591 0.1133 0.1053 <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Investment Objective</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund seeks to obtain growth of capital through investment, primarily in equity securities, in companies </span><span style="color:#000000;font-family:Arial;font-size:10pt;">which meet the social criteria established for the Fund.</span> <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Fees and Expenses of the Fund</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">This table describes the fees and expenses that you may pay if you buy, hold and sell shares of the Fund. </span><span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">The table </span><span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">and the example below do not reflect the separate account fees charged in the variable annuity or variable life insurance policy (“Variable Contracts”) in which the Fund is offered.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> If separate account fees were </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">shown, the Fund’s annual operating expenses would be higher. Please see your Variable Contract prospectus for </span><span style="color:#000000;font-family:Arial;font-size:10pt;">more details on the separate account fees.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;text-decoration:underline;">Annual Fund Operating Expenses</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> (expenses that you </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">pay each year as a percentage of the value of your </span><span style="color:#000000;font-family:Arial;font-size:10pt;">investment)</span> 0.0025 0.0013 0.0038 -0.0002 0.0036 <span style="font-family:Arial;font-size:8pt;">September 30, 2027</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-style:italic;font-weight:bold;text-decoration:underline;">Expense Example</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem or hold all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. The Example does not reflect charges imposed by the Variable Contract. If the Variable Contract fees were reflected, the expenses would be higher. See the Variable Contract prospectus for information on such charges. Although your actual costs may be higher or lower, based on these assumptions and the net expenses shown in the fee table, your costs would </span><span style="color:#000000;font-family:Arial;font-size:10pt;">be:</span> 37 120 211 478 <span style="color:#000000;font-family:Arial;font-size:10pt;font-style:italic;font-weight:bold;text-decoration:underline;">Portfolio Turnover</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). These costs, which are not reflected in annual fund operating expenses or in the Example, affect the </span><span style="color:#000000;font-family:Arial;font-size:10pt;">Fund’s performance.</span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">During the most recent fiscal year, the Fund’s portfolio </span><span style="font-family:Arial;font-size:10pt;">turnover rate was </span><span style="font-family:Arial;font-size:10pt;">8%</span><span style="font-family:Arial;font-size:10pt;"> of the average value of its portfolio.</span> 0.08 <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Principal Investment Strategies of the Fund</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund invests, under normal circumstances, at least 80% of its net assets in the equity securities of U.S. companies meeting the Fund’s social criteria.</span><span style="color:#000000;font-family:Arial;font-size:10pt;">To </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">determine which companies meet the Fund’s social criteria, the subadviser incorporates into its investment process research services from an independent social research service, MSCI ESG Research, LLC (“MSCI ESG Research”). The Fund does not invest in the securities of companies that do not meet its social criteria.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The Fund’s </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">subadviser will generally assess whether a company continues to meet the social criteria on a monthly basis. The Fund may invest up to 20% of its net assets in the securities of other types of companies meeting the social criteria, including foreign securities, preferred stock and convertible securities. The Fund may engage in frequent and active trading of portfolio securities to achieve the </span><span style="color:#000000;font-family:Arial;font-size:10pt;">Fund’s investment objective. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The principal investment technique of the Fund is to approximate the capitalization weighted total rate of return of the Standard &amp; Poor’s 500 Composite Stock Price Index (the “S&amp;P 500 Index”), however, the Fund shall exclude securities screened out to meet the social criteria </span><span style="color:#000000;font-family:Arial;font-size:10pt;">established for the Fund. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The portfolio managers select securities from the S&amp;P 500 Index that meet the Fund’s social criteria, and by employing a statistical technique known as “optimization.” Through this selection process, the portfolio managers seek to select a portfolio of securities that will approximate the capitalization weighted total rate of return of the S&amp;P 500 Index while maintaining similar risk characteristics to the S&amp;P 500 Index. The S&amp;P 500 Index is a widely recognized, unmanaged index of common stock prices as determined by S&amp;P Dow Jones Indices LLC, a subsidiary of S&amp;P Global, Inc. Because the Fund limits its selections to securities that meet its social criteria, not all of the securities in the S&amp;P 500 Index are </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">included in its portfolio, and the Fund’s holdings may be underweight or overweight particular securities, sectors or industries within the S&amp;P 500 Index. The subadviser may use derivatives to seek to track the performance of the </span><span style="color:#000000;font-family:Arial;font-size:10pt;">S&amp;P 500 Index, including futures and total return swaps. </span><span style="color:#000000;font-family:Arial;font-size:10pt;">The Fund’s social criteria are as follows: </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund does not invest in companies that have </span><span style="color:#000000;font-family:Arial;font-size:10pt;">significant revenues derived from: </span><span style="color:#000000;font-family:Arial;font-size:10pt;">•</span><span style="color:#000000;font-family:Arial;font-size:10pt;">the manufacture or distribution of civilian firearms, military weapons or weapons delivery systems; </span><span style="color:#000000;font-family:Arial;font-size:10pt;">•</span><span style="color:#000000;font-family:Arial;font-size:10pt;">the manufacture or distribution of alcoholic beverages or tobacco products; </span><span style="color:#000000;font-family:Arial;font-size:10pt;">•</span><span style="color:#000000;font-family:Arial;font-size:10pt;">the operation of gambling-related businesses; and </span><span style="color:#000000;font-family:Arial;font-size:10pt;">•</span><span style="color:#000000;font-family:Arial;font-size:10pt;">the production of nuclear energy.</span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">The Fund’s revenue criteria are established by the Fund’s </span><span style="font-family:Arial;font-size:10pt;">subadviser and are applied based on MSCI ESG Research revenue calculations. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund also excludes companies with low environmental, social and governance controversy scores, as determined and provided by MSCI ESG Research. MSCI ESG Research uses a rules based methodology to assess issuers on key environmental, social, and governance issues (“MSCI Controversy Case Score”), including: (1) environmental issues such as climate change, natural resources, pollution and waste, and environmental opportunities; (2) social issues such as human capital, product liability, stakeholder opposition and social opportunities; and (3) governance issues such </span><span style="color:#000000;font-family:Arial;font-size:10pt;">as corporate governance and corporate behavior. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund does not invest in companies that, based on low </span><span style="color:#000000;font-family:Arial;font-size:10pt;">MSCI Controversy Case Scores: </span><span style="color:#000000;font-family:Arial;font-size:10pt;">•</span><span style="color:#000000;font-family:Arial;font-size:10pt;">have a history of poor labor-management relations; </span><span style="color:#000000;font-family:Arial;font-size:10pt;">•</span><span style="color:#000000;font-family:Arial;font-size:10pt;">engage in businesses or have products that have a severely negative impact on the environment; </span><span style="color:#000000;font-family:Arial;font-size:10pt;">•</span><span style="color:#000000;font-family:Arial;font-size:10pt;">have significant business operations in countries whose governments pose human rights concerns; operate businesses that have a significantly adverse impact on the communities in which they are located; </span><span style="color:#000000;font-family:Arial;font-size:10pt;">•</span><span style="color:#000000;font-family:Arial;font-size:10pt;">engage in businesses or have products that have a severely negative impact on their customers, which may include companies that have products that pose safety or health concerns, engage in practices that are anti-competitive or have marketing that is inappropriate or misleading; and </span><span style="color:#000000;font-family:Arial;font-size:10pt;">•</span><span style="color:#000000;font-family:Arial;font-size:10pt;">have a history of poor business ethics, which may include companies that have incidents of bribery or fraud, or poor governance structures. </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">In order to generate additional income, the Fund may lend portfolio securities to broker-dealers and other financial institutions provided that the value of the loaned securities does not exceed 30% of the Fund’s total assets. These loans earn income for the Fund and are collateralized by cash and securities issued or guaranteed by the U.S. </span><span style="color:#000000;font-family:Arial;font-size:10pt;">Government or its agencies or instrumentalities. </span><span style="font-family:Arial;font-size:10pt;">Since the Fund’s definition of social criteria is not </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">“fundamental,” VC I’s Board of Directors may change it </span><span style="font-family:Arial;font-size:10pt;">without shareholder approval.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund invests, under normal circumstances, at least 80% of its net assets in the equity securities of U.S. companies meeting the Fund’s social criteria.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;">To </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">determine which companies meet the Fund’s social criteria, the subadviser incorporates into its investment process research services from an independent social research service, MSCI ESG Research, LLC (“MSCI ESG Research”). The Fund does not invest in the securities of companies that do not meet its social criteria.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;">The Fund’s social criteria are as follows: </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">The Fund does not invest in companies that have </span><span style="color:#000000;font-family:Arial;font-size:10pt;">significant revenues derived from: </span><span style="color:#000000;font-family:Arial;font-size:10pt;">•</span><span style="color:#000000;font-family:Arial;font-size:10pt;">the manufacture or distribution of civilian firearms, military weapons or weapons delivery systems; </span><span style="color:#000000;font-family:Arial;font-size:10pt;">•</span><span style="color:#000000;font-family:Arial;font-size:10pt;">the manufacture or distribution of alcoholic beverages or tobacco products; </span><span style="color:#000000;font-family:Arial;font-size:10pt;">•</span><span style="color:#000000;font-family:Arial;font-size:10pt;">the operation of gambling-related businesses; and </span><span style="color:#000000;font-family:Arial;font-size:10pt;">•</span><span style="color:#000000;font-family:Arial;font-size:10pt;">the production of nuclear energy.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;">Shares of the Fund are not bank deposits and </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">are not guaranteed or insured by any bank, government entity or the Federal Deposit Insurance Corporation.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;"> If the </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">value of the assets of the Fund goes down, you could lose </span><span style="color:#000000;font-family:Arial;font-size:10pt;">money.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Convertible Securities Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Convertible security values </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">may be affected by market interest rates, issuer defaults and underlying common stock values; security values may fall if market interest rates rise and rise if market interest rates fall. Additionally, an issuer may have the right to buy back the securities at a time unfavorable to the </span><span style="color:#000000;font-family:Arial;font-size:10pt;">Fund.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Derivatives Risk. </span><span style="color:#000000;font-family:Arial;font-size:10pt;">The prices of derivatives may move in </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">unexpected ways due to the use of leverage and other factors and may result in increased volatility or losses. The Fund may not be able to terminate or sell derivative positions, and a liquid secondary market may not always </span><span style="color:#000000;font-family:Arial;font-size:10pt;">exist for derivative positions.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Equity Securities Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The Fund’s investments in equity </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">securities are subject to the risk that stock prices will fall and may underperform other asset classes. Individual stock prices fluctuate from day-to-day and may decline significantly. The prices of individual stocks may be negatively affected by poor company results or other factors affecting individual prices, as well as industry and/or economic trends and developments affecting industries </span><span style="color:#000000;font-family:Arial;font-size:10pt;">or the securities market as a whole.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">ESG Investment Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The Fund’s adherence to its social </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">criteria and application of related analyses when selecting investments may negatively impact the Fund’s performance, including relative to similar funds that use different criteria, or to funds that do not adhere to such criteria or apply such analyses. Social criteria screening limits the availability of investment opportunities for the Fund. If the Fund changes its social criteria or a company stops meeting the Fund’s social criteria, the Fund will sell the affected investments even if this means the Fund loses money. The employment of an independent social research service to assess social criteria and reliance on potentially incomplete or inaccurate data may further negatively affect outcomes. The Fund may invest in companies that do not reflect the beliefs and values of any particular investor. Socially responsible norms differ by country and region, and a company’s practices or the </span><span style="color:#000000;font-family:Arial;font-size:10pt;">Fund’s assessment of such may change over time.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Failure to Match Index Performance Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The ability of </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">the Fund to match the performance of the S&amp;P 500 Index may be affected by, among other things, changes in securities markets, the manner in which performance of the S&amp;P 500 Index is calculated, changes in the composition of the S&amp;P 500 Index, the amount and timing of cash flows into and out of the Fund, commissions, portfolio expenses, and any differences in the pricing of securities by the Fund and the S&amp;P 500 Index. When the Fund employs an “optimization” strategy, the Fund is subject to an increased risk of tracking error, in that the securities selected in the aggregate for the Fund may </span><span style="color:#000000;font-family:Arial;font-size:10pt;">perform differently than the S&amp;P 500 Index.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Foreign Investment Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Investment in foreign </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">securities involves risks due to several factors, such as illiquidity, the lack of public information, changes in the exchange rates between foreign currencies and the U.S. dollar, unfavorable political, social and legal developments, or economic and financial instability. Foreign companies are not subject to the U.S. accounting and financial reporting standards and may have riskier settlement procedures. U.S. investments that are denominated in foreign currencies or that are traded in foreign markets, or securities of U.S. companies that have significant foreign operations may be subject to foreign </span><span style="color:#000000;font-family:Arial;font-size:10pt;">investment risk.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Market Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> The Fund’s share price can fall because of </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">weakness in the broad market, a particular industry, or specific holdings or due to adverse social, political or economic developments here or abroad, changes in investor psychology, technological disruptions, or heavy institutional selling and other conditions or events (including, for example, military confrontations, war, terrorism, trade wars, disease/virus outbreaks and epidemics). The prices of individual securities may </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">fluctuate, sometimes dramatically, from day to day. The prices of stocks and other equity securities tend to be </span><span style="color:#000000;font-family:Arial;font-size:10pt;">more volatile than those of fixed-income securities.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Preferred Stock Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Unlike common stock, preferred </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">stock generally pays a fixed dividend from a company’s earnings and may have a preference over common stock on the distribution of a company’s assets in the event of bankruptcy or liquidation. Preferred stockholders’ liquidation rights are subordinate to the company’s debt holders and creditors. If interest rates rise, the fixed dividend on preferred stocks may be less attractive and the price of preferred stocks may decline. Preferred </span><span style="color:#000000;font-family:Arial;font-size:10pt;">stockholders typically do not have voting rights.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Securities Lending Risk.</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Engaging in securities lending </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">could increase the market and credit risk for Fund investments. The Fund may lose money if it does not recover borrowed securities, the value of the collateral falls, or the value of investments made with cash collateral declines. The Fund’s loans will be collateralized by securities issued or guaranteed by the U.S. Government or its agencies and instrumentalities, which subjects the Fund to the credit risk of the U.S. Government or the issuing federal agency or instrumentality. If the value of either the cash collateral or the Fund’s investments of the cash collateral falls below the amount owed to a borrower, the Fund also may incur losses that exceed the amount it earned on lending the security. Securities lending also involves the risks of delay in receiving additional collateral or possible loss of rights in the collateral if the borrower fails. Another risk of securities lending is the risk that the loaned portfolio securities may not be available to the Fund on a timely basis and the Fund may therefore lose </span><span style="color:#000000;font-family:Arial;font-size:10pt;">the opportunity to sell the securities at a desirable price.</span> <span style="color:#000000;font-family:Arial;font-size:12pt;font-weight:bold;">Performance Information</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">As a result of a reorganization which occurred on May 24, 2021 (the “Reorganization”), the Fund acquired all of the assets and liabilities of the US Socially Responsible Fund (the “Predecessor Fund”), a series of VALIC Company II. The returns presented for the Fund reflect the performance of the Predecessor Fund. The Fund had not yet commenced operations prior to the Reorganization. The performance information below is based on the performance of the Predecessor Fund for periods prior to the date of the Reorganization. The Fund and the Predecessor Fund had the same investment objectives, strategies and portfolio management team on the date of </span><span style="color:#000000;font-family:Arial;font-size:10pt;">the Reorganization. </span><span style="font-family:Arial;font-size:10pt;margin-left:0%;">The below bar chart and table illustrate the risks of investing in the Fund by showing changes in the Fund’s performance from calendar year to calendar year and comparing the Fund’s average annual returns to those of </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">the S&amp;P 500</span><span style="color:#000000;font-family:Arial;font-size:6.5pt;position:relative;top:-3.25pt;">®</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Index (a broad-based securities market </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">index) which is relevant to the Fund because it has characteristics similar to the Fund’s investment strategies.</span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">Fees and expenses incurred at the contract level are not reflected in the bar chart or table. If these amounts were reflected, returns would be less than those shown. </span><span style="color:#000000;font-family:Arial;font-size:10pt;">Of </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">course, past performance of the Fund is not necessarily </span><span style="color:#000000;font-family:Arial;font-size:10pt;">an indication of how the Fund will perform in the future.</span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">BlackRock Investment Management, LLC (“BlackRock”) assumed sub‑advisory responsibilities on April 30, 2025. Prior to this time, the Fund was subadvised by </span><span style="color:#000000;font-family:Arial;font-size:10pt;">SunAmerica Asset Management, LLC. </span> <span style="font-family:Arial;font-size:10pt;margin-left:0%;">The below bar chart and table illustrate the risks of investing in the Fund by showing changes in the Fund’s performance from calendar year to calendar year and comparing the Fund’s average annual returns to those of </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">the S&amp;P 500</span><span style="color:#000000;font-family:Arial;font-size:6.5pt;position:relative;top:-3.25pt;">®</span><span style="color:#000000;font-family:Arial;font-size:10pt;"> Index (a broad-based securities market </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">index) which is relevant to the Fund because it has characteristics similar to the Fund’s investment strategies.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">Fees and expenses incurred at the contract level are not reflected in the bar chart or table. If these amounts were reflected, returns would be less than those shown. </span> <span style="color:#000000;font-family:Arial;font-size:10pt;">Of </span><span style="color:#000000;font-family:Arial;font-size:10pt;margin-left:0%;">course, past performance of the Fund is not necessarily </span><span style="color:#000000;font-family:Arial;font-size:10pt;">an indication of how the Fund will perform in the future.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;">During the period shown in the bar chart:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Highest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">June 30, 2020</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">20.33%</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Lowest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">March 31, 2020</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">-20.12%</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Year to Date Most </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Recent Quarter:</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">June 30, 2026</span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">15.99%</span> <span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Highest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span> 2020-06-30 0.2033 <span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Lowest Quarterly </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Return:</span> 2020-03-31 -0.2012 <span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Year to Date Most </span><span style="font-family:Arial;font-size:10pt;margin-left:0.0pt;">Recent Quarter:</span> 2026-06-30 0.1599 <span style="font-family:Arial;font-size:10pt;font-weight:bold;margin-left:0%;">Average Annual Total Returns</span><span style="font-family:Arial;font-size:10pt;"> (For the periods ended December 31, 2025)</span> 0.1473 0.1177 0.1291 0.1788 0.1442 0.1482 The Total Annual Fund Operating Expenses for the Fund do not correlate to the ratio of net expenses to average net assets provided in the Financial Highlights table of the Fund’s annual report, which reflects the net operating expenses of the Fund and does not include Acquired Fund Fees and Expenses. “Acquired Fund Fees and Expenses” include fees and expenses incurred indirectly by the Fund as a result of investments in shares of one or more Underlying Funds. The Fund’s investment adviser, The Variable Annuity Life Insurance Company (“VALIC”), has contractually agreed to waive its advisory fee until September 30, 2027, so that the advisory fee payable by the Fund to VALIC equals 0.07% of the Fund’s average daily net assets. This agreement may be modified or discontinued prior to such time only with the approval of the Board of Directors of VALIC Company I (“VC I”), including a majority of the directors who are not “interested persons” of VC I as defined in the Investment Company Act of 1940, as amended. The Total Annual Fund Operating Expenses for the Fund do not correlate to the ratio of net expenses to average net assets provided in the Financial Highlights table of the Fund’s annual report, which reflects the net operating expenses of the Fund and does not include Acquired Fund Fees and Expenses. “Acquired Fund Fees and Expenses” include fees and expenses incurred indirectly by the Fund as a result of investments in shares of one or more Underlying Funds. The Fund’s investment adviser, The Variable Annuity Life Insurance Company (“VALIC”), has contractually agreed to waive its advisory fee until September 30, 2027, so that the advisory fee payable by the Fund to VALIC equals 0.85% on the first $500 million of the Fund’s average daily net assets and 0.80% on average daily net assets over $500 million. This agreement may be modified or discontinued prior to such time only with the approval of the Board of Directors of VALIC Company I (“VC I”), including a majority of the directors who are not “interested persons” of VC I as defined in the Investment Company Act of 1940, as amended. The Fund’s investment adviser, The Variable Annuity Life Insurance Company (“VALIC”), has contractually agreed to waive its advisory fee until September 30, 2027, so that the advisory fee payable by the Fund to VALIC equals 0.71% on the first $250 million of the Fund’s average daily net assets, 0.66% on the next $250 million of the Fund’s average daily net assets, and 0.61% on average daily net assets over $500 million. This agreement may be modified or discontinued prior to such time only with the approval of the Board of Directors of VALIC Company I (“VC I”), including a majority of the directors who are not “interested persons” of VC I as defined in the Investment Company Act of 1940, as amended. The Fund’s investment adviser, The Variable Annuity Life Insurance Company (“VALIC”), has contractually agreed to waive its advisory fee until September 30, 2027, so that the advisory fee payable by the Fund to VALIC equals 0.335% on the first $500 million of the Fund’s average daily net assets, 0.235% on the next $2.5 billion of the Fund’s average daily net assets, 0.185% on the next $2 billion of the Fund’s average daily net assets and 0.135% on average daily net assets over $5 billion. This agreement may be modified or discontinued prior to such time only with the approval of the Board of Directors of VALIC Company I (“VC I”), including a majority of the directors who are not “interested persons” of VC I as defined in the Investment Company Act of 1940, as amended. The Fund’s investment adviser, The Variable Annuity Life Insurance Company (“VALIC”), has contractually agreed to waive its advisory fee until September 30, 2027, so that the advisory fee payable by the Fund to VALIC equals 0.69% on the first $250 million of the Fund’s average daily net assets, 0.64% on the next $250 million of the Fund’s average daily net assets, 0.59% on the next $500 million of the Fund’s average daily net assets, and 0.54% on average daily net assets over $1 billion. This agreement may be modified or discontinued prior to such time only with the approval of the Board of Directors of the Fund, including a majority of the directors who are not “interested persons” of the Fund as defined in the Investment Company Act of 1940, as amended. The Total Annual Fund Operating Expenses for the Fund do not correlate to the ratio of net expenses to average net assets provided in the Financial Highlights table of the Fund’s annual report, which reflects the gross operating expenses of the Fund and does not include Acquired Fund Fees and Expenses.“Acquired Fund Fees and Expenses” include fees and expenses incurred indirectly by the Fund as a result of investments in shares of one or more mutual funds, hedge funds, private equity funds or other pooled investment vehicles. Pursuant to an Expense Limitation Agreement, The Variable Annuity Life Insurance Company (“VALIC”) has contractually agreed to reimburse the expenses of the Fund until September 30, 2027, so that the Fund’s Total Annual Fund Operating Expenses After Fee Waivers and/or Expense Reimbursements do not exceed 0.32%. For purposes of the Expense Limitation Agreement, “Total Annual Fund Operating Expenses” shall not include extraordinary expenses (i.e., expenses that are unusual in nature and infrequent in occurrence, such as litigation), or acquired fund fees and expenses, brokerage commissions and other transactional expenses relating to the purchase and sale of portfolio securities, interest, taxes and governmental fees, and other expenses not incurred in the ordinary course of the Fund’s business. This agreement will be renewed annually for one-year terms unless terminated by the Board of Directors of VALIC Company I prior to any such renewal. The Fund’s investment adviser, The Variable Annuity Life Insurance Company (“VALIC”), has contractually agreed to waive its advisory fee until September 30, 2027, so that the advisory fee payable by the Fund to VALIC equals 0.385% on the first $250 million of the Fund’s average daily net assets, 0.335% on the next $250 million of the Fund’s average daily net assets, 0.285% on the next $500 million of the Fund’s average daily net assets, and 0.235% on average daily net assets over $1 billion. This agreement may be modified or discontinued prior to such time only with the approval of the Board of Directors of VALIC Company I (“VC I”), including a majority of the directors who are not “interested persons” of VC I as defined in the Investment Company Act of 1940, as amended. The Fund’s investment adviser, The Variable Annuity Life Insurance Company (“VALIC”), has contractually agreed to waive its advisory fee until September 30, 2027, so that the advisory fee payable by the Fund to VALIC equals 0.64% on the first $500 million of the Fund’s average daily net assets and 0.59% on average daily net assets over $500 million. This agreement may be modified or discontinued prior to such time only with the approval of the Board of Directors of VALIC Company I (“VC I”), including a majority of the directors who are not “interested persons” of VC I as defined in the Investment Company Act of 1940, as amended. The Fund’s investment adviser, The Variable Annuity Life Insurance Company (“VALIC”), has contractually agreed to waive its advisory fee until September 30, 2027, so that the advisory fee payable by the Fund to VALIC equals 0.450% on the first $300 million of the Fund’s average daily net assets, 0.425% on the next $200 million of the Fund’s average daily net assets and 0.400% on average daily net assets over $500 million. This agreement may be modified or discontinued prior to such time only with the approval of the Board of Directors of VALIC Company I (“VC I”), including a majority of the directors who are not “interested persons” of VC I as defined in the Investment Company Act of 1940, as amended. The Fund’s investment adviser, The Variable Annuity Life Insurance Company (“VALIC”), has contractually agreed to waive its advisory fee until September 30, 2027, so that the advisory fee payable by the Fund to VALIC equals 0.57% on the first $500 million of the Fund’s average daily net assets, 0.51% on the next $500 million of the Fund’s average daily net assets, 0.48% on the next $500 million of the Fund’s average daily net assets, and 0.45% on average daily net assets over $1.5 billion. This agreement may be modified or discontinued prior to such time only with the approval of the Board of Directors of VALIC Company I (“VC I”), including a majority of the directors who are not “interested persons” of VC I as defined in the Investment Company Act of 1940, as amended. The Fund’s investment adviser, The Variable Annuity Life Insurance Company (“VALIC”), has contractually agreed to waive its advisory fee until September 30, 2027, so that the advisory fee payable by the Fund to VALIC equals 0.315% on the first $500 million of the Fund’s average daily net assets, 0.215% on average daily net assets over $500 million, and 0.205% on average daily net assets over $1 billion. This agreement may be modified or discontinued prior to such time only with the approval of the Board of Directors of VALIC Company I (“VC I”), including a majority of the directors who are not “interested persons” of VC I as defined in the Investment Company Act of 1940, as amended. The Fund’s investment adviser, The Variable Annuity Life Insurance Company (“VALIC”), has contractually agreed to waive its advisory fee until September 30, 2027, so that the advisory fee payable by the Fund to VALIC equals 0.580% on the first $250 million of the Fund’s average daily net assets, 0.555% on the next $250 million of the Fund’s average daily net assets, 0.530% on the next 300 million of the Fund’s average daily net assets, 0.505% on the next $200 million of the Fund’s average daily net assets and 0.450% on the Fund’s average daily net assets over $1 billion. This agreement may be modified or discontinued prior to such time only with the approval of the Board of Directors of VALIC Company I (“VC I”), including a majority of the directors who are not “interested persons” of VC I as defined in the Investment Company Act of 1940, as amended. The Fund’s investment adviser, The Variable Annuity Life Insurance Company (“VALIC”), has contractually agreed to waive its advisory fee until September 30, 2027, so that the advisory fee payable by the Fund to VALIC equals 0.730% on the first $100 million of the Fund’s average daily net assets, 0.705% on the next $150 million of the Fund’s average daily net assets, 0.680% on the next $250 million of the Fund’s average daily net assets, 0.655% on the next $250 million of the Fund’s average daily net assets and 0.630% on average daily net assets over $750 million. This agreement may be modified or discontinued prior to such time only with the approval of the Board of Directors of VALIC Company I (“VC I”), including a majority of the directors who are not “interested persons” of VC I as defined in the Investment Company Act of 1940, as amended. The Total Annual Fund Operating Expenses for the Fund do not correlate to the ratio of net expenses to average net assets provided in the Financial Highlights table of the Fund’s annual report, which reflects the net operating expenses of the Fund and does not include Acquired Fund Fees and Expenses. “Acquired Fund Fees and Expenses” include fees and expenses incurred indirectly by the Fund as a result of investments in shares of one or more Underlying Funds. The Fund’s investment adviser, The Variable Annuity Life Insurance Company (“VALIC”), has contractually agreed to waive its advisory fee until September 30, 2027, so that the advisory fee payable by the Fund to VALIC equals 0.07% of the Fund’s average daily net assets. This agreement may be modified or discontinued prior to such time only with the approval of the Board of Directors of VALIC Company I (“VC I”), including a majority of the directors who are not “interested persons” of VC I as defined in the Investment Company Act of 1940, as amended. The Fund’s investment adviser, The Variable Annuity Life Insurance Company (“VALIC”), has contractually agreed to waive its advisory fee until September 30, 2027, so that the advisory fee payable by the Fund to VALIC equals 0.405% on the first $250 million of the Fund’s average daily net assets, 0.355% on the next $250 million of the Fund’s average daily net assets, and 0.305% on average daily net assets over $500 million. This agreement may be modified or discontinued prior to such time only with the approval of the Board of Directors of the VALIC Company I (“VC I”), including a majority of the directors who are not “interested persons” of VC I as defined in the Investment Company Act of 1940, as amended. The Fund’s investment adviser, The Variable Annuity Life Insurance Company (“VALIC”), has contractually agreed to waive its advisory fee until September 30, 2027, so that the advisory fee payable by the Fund to VALIC equals 0.44% on the first $250 million of the Fund’s average daily net assets, 0.39% on the next $250 million of the Fund’s average daily net assets, 0.34% on the next $500 million of the Fund’s average daily net assets, and 0.29% on average daily net assets over $1 billion. This agreement may be modified or discontinued prior to such time only with the approval of the Board of Directors of the Fund, including a majority of the directors who are not “interested persons” of the Fund as defined in the Investment Company Act of 1940, as amended. The Fund’s investment adviser, The Variable Annuity Life Insurance Company (“VALIC”), has contractually agreed to waive its advisory fee until September 30, 2027, so that the advisory fee payable by the Fund to VALIC equals 0.32% on the first $250 million of the Fund’s average daily net assets, 0.30% on the next $250 million of the Fund’s average daily net assets, and 0.28% on average daily net assets over $500 million. This agreement may be modified or discontinued prior to such time only with the approval of the Board of Directors of the VALIC Company I (“VC I”), including a majority of the directors who are not “interested persons” of VC I as defined in the Investment Company Act of 1940, as amended. The Total Annual Fund Operating Expenses for the Fund do not correlate to the ratio of net expenses to average net assets provided in the Financial Highlights table of the Fund’s annual report, which reflects the net operating expenses of the Fund and does not include Acquired Fund Fees and Expenses. “Acquired Fund Fees and Expenses” include fees and expenses incurred indirectly by the Fund as a result of investments in shares of one or more Underlying Funds. The Fund’s investment adviser, The Variable Annuity Life Insurance Company  (“VALIC”), has contractually agreed to waive its advisory fee until September 30, 2027, so that the advisory fee payable by the Fund to VALIC equals 0.07% of the Fund’s average daily net assets. This agreement may be modified or discontinued prior to such time only with the approval of the Board of Directors of VALIC Company I (“VC I”), including a majority of the directors who are not “interested persons” of VC I as defined in the Investment Company Act of 1940, as amended. The Fund’s investment adviser, The Variable Annuity Life Insurance Company (“VALIC”), has contractually agreed to waive its advisory fee until September 30, 2027, so that the advisory fee payable by the Fund to VALIC equals 0.87% on the first $100 million of the Fund’s average daily net assets, 0.77% on the next $650 million of the Fund’s average daily net assets and 0.72% on the Fund’s average daily net assets over $750 million. This agreement may be modified or discontinued prior to such time only with the approval of the Board of Directors of VALIC Company I (“VC I”), including a majority of the directors who are not “interested persons” of VC I as defined in the Investment Company Act of 1940, as amended. The Fund’s investment adviser, The Variable Annuity Life Insurance Company (“VALIC”), has contractually agreed to waive its advisory fee until September 30, 2027, so that the advisory fee payable by the Fund to VALIC equals 0.470% on the first $200 million of the Fund’s average daily net assets, 0.420% on the next $300 million of the Fund’s average daily net assets, 0.370% on average daily net assets over $500 million. This agreement may be modified or discontinued prior to such time only with the approval of the Board of Directors of VALIC Company I (“VC I”), including a majority of the directors who are not “interested persons” of VC I as defined in the Investment Company Act of 1940, as amended. The Fund’s investment adviser, The Variable Annuity Life Insurance Company (“VALIC”), has contractually agreed to waive its advisory fee until September 30, 2027, so that the advisory fee payable by the Fund to VALIC is equal to 0.23% on the first $1 billion of the Fund’s average daily net assets and 0.22% on the average daily net assets over $1 billion. This agreement may be modified or discontinued prior to such time only with the approval of the Board of Directors of VALIC Company I (“VC I”), including a majority of the directors who are not “interested persons” of VC I as defined in the Investment Company Act of 1940, as amended. The Fund’s investment adviser, The Variable Annuity Life Insurance Company (“VALIC”), has contractually agreed to waive its advisory fee until September 30, 2027, so that the advisory fee payable by the Fund to VALIC equals 0.59% on the first $250 million of the Fund’s average daily net assets, 0.56% on the next $250 million of the Fund’s average daily net assets, 0.51% on the next $500 million of the Fund’s average daily net assets and 0.46% on average daily net assets over $1 billion. This agreement may be modified or discontinued prior to such time only with the approval of the Board of Directors of VALIC Company I (“VC I”), including a majority of the directors who are not “interested persons” of VC I as defined in the Investment Company Act of 1940, as amended. The Fund’s investment adviser, The Variable Annuity Life Insurance Company (“VALIC”), has contractually agreed to waive its advisory fee until September 30, 2027, so that the advisory fee payable by the Fund to VALIC equals 0.29% on the first $500 million of the Fund’s average daily net assets, 0.19% on the next $2.5 billion of the Fund’s average daily net assets, 0.14% on the next $2.0 billion of the Fund’s average daily net assets, and 0.09% on average daily net assets over $5 billion. This agreement may be modified or discontinued prior to such time only with the approval of the Board of Directors of VALIC Company I (“VC I”), including a majority of the directors who are not “interested persons” of VC I as defined in the Investment Company Act of 1940, as amended. The Fund’s investment adviser, The Variable Annuity Life Insurance Company (“VALIC”), has contractually agreed to waive its advisory fee until September 30, 2027, so that the advisory fee payable by the Fund to VALIC equals 0.56% on the first $250 million of the Fund’s average daily net assets, 0.51% on the next $250 million of the Fund’s average daily net assets, 0.46% on the next $500 million of the Fund’s average daily net assets, and 0.41% on average daily net assets over $1 billion. This agreement may be modified or discontinued prior to such time only with the approval of the Board of Directors of VALIC Company I (“VC I”), including a majority of the directors who are not “interested persons” of VC I as defined in the Investment Company Act of 1940, as amended. Pursuant to an Expense Limitation Agreement, The Variable Annuity Life Insurance Company (“VALIC”) has contractually agreed to reimburse the expenses of the Fund until September 30, 2027, so that the Fund’s Total Annual Fund Operating Expenses After Fee Waivers and/or Expense Reimbursements do not exceed 0.68%. For purposes of the Expense Limitation Agreement, “Total Annual Fund Operating Expenses” shall not include extraordinary expenses (i.e., expenses that are unusual in nature and infrequent in occurrence, such as litigation), or acquired fund fees and expenses, brokerage commissions and other transactional expenses relating to the purchase and sale of portfolio securities, interest, taxes and governmental fees, and other expenses not incurred in the ordinary course of the Fund’s business. This agreement will be renewed annually for one-year terms unless terminated by the Board of Directors of VALIC Company I prior to any such renewal. The Fund’s investment adviser, The Variable Annuity Life Insurance Company (“VALIC”), has contractually agreed to waive its advisory fee until September 30, 2027, so that the advisory fee payable by the Fund to VALIC is equal to 0.410% on the first $500 million of the Fund’s average daily net assets, 0.385% on the next $500 million of the Fund’s average daily net assets, and 0.360% on average daily net assets over $1 billion. This agreement may be modified or discontinued prior to such time only with the approval of the Board of Directors of VALIC Company I (“VC I”), including a majority of the directors who are not “interested persons” of VC I as defined in the Investment Company Act of 1940, as amended. The Fund’s investment adviser, The Variable Annuity Life Insurance Company (“VALIC”), has contractually agreed to waive its advisory fee until September 30, 2027, so that the advisory fee payable by the Fund to VALIC equals 0.530% on the first $500 million of the Fund’s average daily net assets and 0.505% on average daily net assets over $500 million. This agreement may be modified or discontinued prior to such time only with the approval of the Board of Directors of VALIC Company I (“VC I”), including a majority of the directors who are not “interested persons” of VC I as defined in the Investment Company Act of 1940, as amended. The Fund’s investment adviser, The Variable Annuity Life Insurance Company (“VALIC”), has contractually agreed to waive its advisory fee until September 30, 2027, so that the advisory fee payable by the Fund to VALIC equals 0.66% on the first $250 million of the Fund’s average daily net assets, 0.61% on the next $250 million of the Fund’s average daily net assets, 0.56% on the next $500 million of the Fund’s average daily net assets and 0.51% on average daily net assets over $1 billion. This agreement may be modified or discontinued prior to such time only with the approval of the Board of Directors of the Fund, including a majority of the directors who are not “interested persons” of the Fund as defined in the Investment Company Act of 1940, as amended. The Fund’s investment adviser, The Variable Annuity Life Insurance Company (“VALIC”), has contractually agreed to waive its advisory fee until September 30, 2027, so that the advisory fee payable by the Fund to VALIC equals 0.265% on the first $500 million of the Fund’s average daily net assets, 0.165% on the next $2.5 billion of the Fund’s average daily net assets, 0.115% on the next $2 billion of the Fund’s average daily net assets and 0.065% on average daily net assets over $5 billion. This agreement may be modified or discontinued prior to such time only with the approval of the Board of Directors of VALIC Company I (“VC I”), including a majority of the directors who are not “interested persons” of VC I as defined in the Investment Company Act of 1940, as amended. The Fund’s investment adviser, The Variable Annuity Life Insurance Company (“VALIC”), has contractually agreed to waive its advisory fee until September 30, 2027, so that the advisory fee payable by the Fund to VALIC equals 0.80% on the first $100 million of the Fund’s average daily net assets and 0.75% on average daily net assets over $100 million. This agreement will continue in effect from year to year thereafter and may be modified or discontinued prior to such time only with the approval of the Board of Directors of VALIC Company I (“VC I”), including a majority of the directors who are not “interested persons” of VC I. The Fund’s investment adviser, The Variable Annuity Life Insurance Company (“VALIC”), has contractually agreed to waive its advisory fee until September 30, 2027, so that the advisory fee payable by the Fund to VALIC equals 0.55% on the first $750 million of the Fund’s average daily net assets and 0.50% on average daily net assets over $750 million. This agreement may be modified or discontinued prior to such time only with the approval of the Board of Directors of VALIC Company I (“VC I”), including a majority of the directors who are not “interested persons” of VC I as defined in the Investment Company Act of 1940, as amended (the “1940 Act”). The Fund’s investment adviser, The Variable Annuity Life Insurance Company (“VALIC”), has contractually agreed to waive its advisory fee until September 30, 2027, so that the advisory fee payable by the Fund to VALIC equals 0.44% on the first $500 million of the Fund’s average daily net assets and 0.40% on average daily net assets over $500 million. This agreement may be modified or discontinued prior to such time only with the approval of the Board of Directors of VALIC Company I (“VC I”), including a majority of the directors who are not “interested persons” of VC I as defined in the Investment Company Act of 1940, as amended.