NVIT Nasdaq-100 Index
Fund
Summary Prospectus April 30, 2026
Class I / Class II
Before you invest, you may want to review the Fund’s Prospectus, which contains information about the Fund and its risks. This Summary Prospectus is intended for use in connection with variable insurance contracts, and is not intended for use by other investors. The Fund’s Prospectus and Statement of Additional Information, each dated April 30, 2026 (as may be supplemented or revised), are incorporated by reference into this Summary Prospectus. For free paper or electronic copies of the Fund’s Prospectus and other information about the Fund, go to nationwide.com/mutualfundsnvit, email a request to web_help@nationwide.com or call 800-848-0920, or ask any variable insurance contract provider who offers shares of the Fund as an underlying investment option in its products.
Objective
The NVIT Nasdaq-100 Index Fund (the “Fund”) seeks to match the performance of the Nasdaq-100® Index as closely as possible before the deduction of Fund expenses.
Fees and Expenses
This table describes the fees and expenses that you may pay if you buy, hold, and sell shares of the Fund.
Sales charges and other expenses that may be imposed by variable insurance
contracts are not included. If these charges were reflected, the expenses listed below would be higher. See the variable insurance contract prospectus, which may impose sales charges and other additional contract-level
expenses.
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
| |
Class I
Shares |
Class II
Shares |
| Management Fees |
0.17% |
0.17% |
| Distribution and/or Service (12b-1) Fees |
None |
0.25% |
| Other Expenses |
0.44% |
0.44% |
| Total Annual Fund Operating Expenses |
0.61% |
0.86% |
| Fee Waiver/Expense Reimbursement(1) |
(0.14)% |
(0.14)% |
| Total Annual Fund Operating Expenses After Fee Waiver/Expense
Reimbursement |
0.47% |
0.72% |
(1)
Nationwide Variable Insurance Trust (the “Trust”) and Nationwide Fund Advisors (the “Adviser”) have entered into a written contract limiting annual fund
operating expenses to 0.22% until at
least April 30, 2027. Under the expense limitation
agreement, the level to which operating expenses are limited applies to all share classes, excluding any taxes, interest, compensation payable
to parties not affiliated with the Adviser for the recovery of tax reclaims, brokerage commissions,
Rule 12b-1 fees, acquired fund fees and expenses, short-sale dividend expenses, administrative services fees, other expenses which are capitalized in accordance with generally
accepted accounting principles and expenses incurred by the Fund in connection with any merger or reorganization, and may exclude other nonroutine expenses not incurred in the
ordinary course of the Fund’s business. The expense limitation agreement may be changed or eliminated only with the consent of the Board of Trustees of the Trust. The Adviser
may request and receive reimbursement from the Fund for advisory fees waived or other expenses reimbursed by the Adviser pursuant to the expense limitation agreement at a date not
to exceed three years from the date on which the corresponding waiver or reimbursement to the Fund was made. However, no reimbursement may be made unless: (i) the Fund’s
assets exceed $100 million and (ii) the total annual expense ratio is no higher than the amount of the expense limitation that was in place at the time the Adviser waived the fees
or reimbursed the expenses and does not cause the expense ratio to exceed the current expense limitation. Reimbursement by the Fund of amounts previously waived or reimbursed by the
Adviser is not permitted except as provided for in the expense limitation agreement.
Example
This Example is intended to help you to compare the cost of investing in the Fund with the cost of investing in other mutual
funds. The Example, however, does not include charges that are imposed by variable insurance contracts. If these charges were reflected, the expenses listed below would be higher.
This Example assumes that you invest $10,000 in the Fund for the time periods indicated and then sell all of your shares at the end of those time periods. It assumes a 5% return each year and no change in expenses, and any expense limitation or fee waivers
NSP-NASDX
(4/26)
Summary Prospectus April 30, 2026
1
NVIT Nasdaq-100 Index Fund
that may apply for the periods indicated above
under “Fees and Expenses.” Although your actual costs may be higher or lower, based on these assumptions your costs would be:
| |
1 Year |
3 Years |
5 Years |
10 Years |
| Class I Shares |
$48 |
$181 |
$326 |
$749 |
| Class II Shares |
74 |
260 |
463 |
1,048 |
Portfolio Turnover
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or
“turns over” its portfolio). 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 Fund’s performance. During the period April 15, 2025 (commencement of operations) through December 31, 2025, the Fund’s portfolio turnover rate was 50.00% of the average value of its portfolio.
Principal Investment Strategies
The Fund employs a “passive” management approach, investing in a portfolio of
assets whose performance the subadviser expects to match approximately the performance of the Nasdaq-100® Index before the deduction of Fund expenses. The Nasdaq-100® Index
is a stock market index made up of equity securities issued by 100 of the largest non-financial companies listed on the Nasdaq stock exchange. Some of these companies may be
located outside the United States. Under normal circumstances, the Fund invests at least 80% of its net assets in equity securities of companies included in the Nasdaq-100® Index. The Fund
does not necessarily invest in all of the securities included in the Nasdaq-100® Index, or in the same weightings. Because the Nasdaq-100® Index includes securities from several technology industries, the Fund is permitted to
invest more than 25% of its net assets in securities of companies in the technology sector. The Fund is classified as a “non-diversified” fund under the Investment Company Act of 1940, which means that a relatively high percentage of the Fund's assets may be invested in a
limited number of issuers.
Principal Risks
The Fund cannot guarantee that it will achieve its investment objective.
As with any fund, the value of the Fund’s investments—and therefore, the value of Fund shares—may fluctuate. These changes may occur because of:
Equity securities risk – stock markets are volatile. The price of an equity
security fluctuates based on changes in a company’s financial condition and overall market and economic conditions.
Market risk – the risk that one or more markets in which the Fund invests will go down in value, including the possibility that the
markets will go down sharply and unpredictably. This occurs due to numerous factors, including interest rates, the outlook for corporate profits, the health of the national and world economies, and the fluctuation of other securities markets around the
world. These risks may be magnified if certain social, political, economic and other conditions and events (such as natural disasters, epidemics and pandemics, terrorism, conflicts, trade disputes and social unrest or rapid technological developments
such as artificial intelligence) adversely interrupt the global economy.
Selection risk – the risk that the securities
selected by the Fund’s subadviser will underperform the markets, the relevant indexes or the securities selected by other funds with similar investment objectives and
investment strategies.
Index fund
risk – the Fund does not use defensive strategies or attempt to reduce its exposure to poor performing securities. Further, correlation between the Fund’s performance and that of the index is likely to be negatively affected by the Fund’s expenses, changes in the composition of the index, and the timing of purchase and redemption of Fund shares.
Foreign securities risk – foreign securities
often are more volatile, harder to price and less liquid than U.S. securities. The prices of foreign securities may be further affected by other factors, such as changes in the
exchange rates between the U.S. dollar and the currencies in which the securities are traded.
Concentration risk – the risk associated with
exposure to any one industry or sector. Because the technology sector constitutes a large percentage of the Nasdaq-100® Index, the Fund focuses its investments (i.e., invests more than 25% of its total
assets) in the technology sector. This sector concentration exposes the Fund to risks associated with economic conditions in the technology
Summary Prospectus April 30, 2026
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NVIT Nasdaq-100 Index Fund
sector. Due to intense global competition, a less
diversified product line and other factors, companies that develop and/or rely on technology are often highly
sensitive to downswings in the economy. Such companies may also experience volatile swings in demand for their
products and services due to changing economic conditions, rapid technological advances and shorter product
lifespans.
Sector risk – investments in particular industries or sectors may be more volatile than the overall stock market. Therefore,
if the Fund emphasizes one or more industries or economic sectors, it will be more susceptible to financial,
market or economic events affecting the particular issuers and industries participating in such sectors than
funds that do not emphasize particular industries or sectors.
Nondiversified fund risk – because the Fund may hold larger positions in fewer securities than diversified funds, a single security’s increase or decrease in value may have a
greater impact on the Fund’s value and total return.
Loss of money is a risk of investing in the Fund. An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal
Deposit Insurance Corporation or any other government agency.
Performance
Performance information gives some indication of the risks of an investment in the Fund by comparing the Fund’s
performance with a broad measure of market performance. Performance information is not provided because the
Fund is new and did not complete one full calendar year of operations. The Fund’s broad-based
securities market index is the Russell 1000® Index in order to meet a Securities and Exchange Commission requirement. The Fund also compares its performance to the Nasdaq-100® Index, which has characteristics relevant to the Fund’s investment strategy.
Portfolio Management
Investment Adviser
Nationwide Fund Advisors
Subadviser
BlackRock Investment Management, LLC
Portfolio Managers
| Portfolio Manager |
Title |
Length of Service |
| Jennifer Hsui, CFA |
Managing Director,
Portfolio Manager |
Since 2025 |
| Peter Sietsema |
Managing Director |
Since 2025 |
| Matt Waldron, CFA |
Managing Director |
Since 2025 |
| Steven White |
Managing Director |
Since 2025 |
Tax Information
The dividends and distributions paid by the Fund to the insurance company separate
accounts will consist of ordinary income, capital gains, or some combination of both. Because shares of the
Fund must be purchased through separate accounts used to fund variable insurance contracts, such dividends and
distributions will be exempt from current taxation by contract holders if left to accumulate within a separate
account. Consult the variable insurance contract prospectus for additional tax information.
Payments to Broker-Dealers and Other Financial
Intermediaries
This Fund is only offered as an underlying investment option for variable insurance contracts. The Fund and its related
companies may make payments to the sponsoring insurance companies (or their affiliates) for distribution and/or
other services, and to broker-dealers and other financial intermediaries that distribute the variable insurance
contracts. These payments may create a conflict of interest by influencing the insurance companies to include
the Fund as an underlying investment option in the variable insurance contracts, and by influencing the
broker-dealers and other financial intermediaries to distribute variable insurance contracts that include the
Fund as an underlying investment option over other variable insurance contracts or to otherwise recommend the
selection of the Fund as an underlying investment option by contract owners instead of other funds that also
may be available investment options. The prospectus (or other offering document) for your variable insurance
contract may contain additional information about these payments.
Summary Prospectus April 30, 2026
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NVIT Nasdaq-100 Index Fund