# EDGAR Filing Document

**Accession Number:** 0000792359
**File Stem:** 0000930413-26-001303
**Filing Date:** 2026-4
**Character Count:** 16244
**Document Hash:** bc3f49169da5cd9c3c044777715759f5
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000930413-26-001303.hdr.sgml**: 20260428

**ACCESSION NUMBER**: 0000930413-26-001303

**CONFORMED SUBMISSION TYPE**: 497K

**PUBLIC DOCUMENT COUNT**: 4

**FILED AS OF DATE**: 20260428

**DATE AS OF CHANGE**: 20260428

**EFFECTIVENESS DATE**: 20260428

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** VIRTUS VARIABLE INSURANCE TRUST
- **CENTRAL INDEX KEY:** 0000792359

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 497K
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 033-05033
- **FILM NUMBER:** 26903376

**BUSINESS ADDRESS:**
- **STREET 1:** ONE FINANCIAL PLAZA
- **CITY:** HARTFORD
- **STATE:** CT
- **ZIP:** 06103
- **BUSINESS PHONE:** 8002487971

**MAIL ADDRESS:**
- **STREET 1:** ONE FINANCIAL PLAZA
- **CITY:** HARTFORD
- **STATE:** CT
- **ZIP:** 06103

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PHOENIX EDGE SERIES FUND
- **DATE OF NAME CHANGE:** 19920703

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** BIG EDGE SERIES FUND
- **DATE OF NAME CHANGE:** 19920304

## Series and Classes Contracts Data

### Virtus Duff & Phelps Real Estate Securities Series (Series ID: S000001962)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000005146 | Class A      |  |

<br> Summary Prospectus April 28, 2026 <br> <u>Virtus Duff & Phelps Real Estate Securities Series — Class A Shares</u>

This Summary Prospectus is intended for use in connection with a variable life insurance policy or a variable annuity contract and is not intended for use by other investors.<br>Before you invest, you may want to review the Series' prospectus, which contains more information about the Series and its risks. You can find the Series' prospectus, shareholder reports, statement of additional information (SAI), and other information about the Series online at www.virtus.com/investor-resources/variable-insurance-fund-documents. The Series' prospectus and SAI, both dated April 28, 2026 are incorporated by reference into this Summary Prospectus.<br>

#### Investment Objective
The Series has investment objectives of capital appreciation and income with approximately equal emphasis.

#### Fees and Expenses
The following table describes the fees and expenses you may pay if you buy, hold and sell shares of the Virtus Duff & Phelps Real Estate Securities Series. The table does not include any fees or sales charges imposed under the variable contracts for which the Series is an investment option. If they were included, your costs would be higher.

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| | |
|:---|:---|
| **Shareholder Fees *(fees paid directly from your investment)*** | **Class A** |
| Shareholder Fees |  |
| **Annual Series Operating Expenses *(expenses that you pay each year as a percentage of the value of your investment)*** | **Class A** |
| Management Fees | 0.75% |
| Distribution and/or Service (12b-1) Fees | 0.25% |
| Other Expenses | 0.19% |
| Total Annual Series Operating Expenses | 1.19% |
| Less: Fee Waiver and/or Expense Reimbursement<sup>(a)</sup> | (0.09)% |
| Total Annual Series Operating Expenses After Fee Waiver and/or Expense Reimbursement<sup>(a)</sup> | 1.10% |

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(a) The Series' investment adviser has contractually
agreed to limit the Series' total annual operating expenses (excluding certain expenses, such as front-end
sales charges, taxes, leverage and borrowing expenses (such as commitment, amendment and renewal expenses
on credit or redemption facilities), interest, brokerage commissions, expenses incurred in connection
with any merger or reorganization, unusual or infrequently occurring expenses (such as litigation), acquired
fund fees and expenses, and dividend expenses, if any) so that such expenses do not exceed 1.10% through
April 30, 2027. Prior to April 30, 2027, only the Series' Board may modify or terminate the expense limitation
agreement. Following the contractual period, the adviser may discontinue these expense reimbursement
arrangements at any time. The adviser may recapture operating expenses reimbursed and/or fees waived
under these arrangements for a period of three years following the date such waiver or reimbursement
occurred, provided that the recapture does not cause the Series to exceed its expense limit in effect
at the time of the waiver or reimbursement, and any in effect at the time of recapture, after repayment
is taken into account.

#### Example
This example is intended to help you compare the cost of investing in the Series with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Series for the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that your investment has a 5% return each year, that the Series' total operating expenses remain the same and that the expense reimbursement arrangement remains in place for the contractual period. The example does not reflect variable contract fees and charges, and if it did, the costs shown would be higher. Although your actual costs may be higher or lower, based on these assumptions your costs would be:

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| | | | | |
|:---|:---|:---|:---|:---|
| **Class** | **1 Year** | **3 Years** | **5 Years** | **10 Years** |
| Class A  | $112 | $369 | $646 | $1435 |

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#### Portfolio Turnover
The Series 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 Series Operating Expenses or in the Example, affect the Series' performance. During the most recent fiscal year, the Series' portfolio turnover rate was 22% of the average value of its portfolio.

#### Investments, Risks and Performance

#### Principal Investment Strategies
The Series offers exposure to the equity real estate investment trust ("REIT") market utilizing a quality and relative value style with a fundamental security analysis approach designed to identify the most attractive investment candidates. The subadviser believes the value of a REIT extends beyond the value of the underlying real estate and that through fundamental research, it can uncover and exploit inefficiencies in the market.

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Under normal circumstances, the Series invests at least 80% of its assets in publicly-traded REITs and companies that are principally engaged in the real estate industry. Generally, REITs are publicly-traded companies that manage portfolios of real estate to earn profits for shareholders through investments in commercial and residential real estate. Equity REITs own real estate directly. The Series may invest in issuers of any capitalization. As of December 31, 2025, the total market capitalization range of the issuers in which the Series was invested was $1.7 billion to $127 billion. The Series concentrates its assets in the real estate industry.

#### Principal Risks
The Series may not achieve its objective(s), and it is not intended to be a complete investment program. The value of the Series' investments that supports your share value may decrease. If between the time you purchase shares and the time you sell shares the value of the Series' investments decreases, you will lose money. Investment values can decrease for a number of reasons. Conditions affecting the overall economy, specific industries or companies in which the Series invests can be worse than expected, and investments may fail to perform as the subadviser expects. As a result, the value of your shares may decrease. Purchase and redemption activities by separate accounts of participating insurance companies may impact the management of the Series and its ability to achieve its investment objective(s). The principal risks of investing in the Series are identified below.

> ***Equity Securities Risk:*** The value of the stocks held by the Series may be negatively affected by the financial market, industries in which the Series invests, or issuer-specific events. Focus on a particular style or in small or medium-sized companies may enhance that risk.

> ***Real Estate Investment Risk:*** The Series may be negatively affected by changes in real estate values or economic conditions, credit risk and interest rate fluctuations, changes in the value of the underlying real estate and defaults by lessees and/or borrowers.

> ***Industry/Sector Concentration Risk:*** Events negatively affecting real estate related securities may cause the value of the Series' shares to decrease, perhaps significantly. Since the Series concentrates its assets in real estate related securities, the Series is more vulnerable to conditions that negatively affect real estate related securities as compared to a Series that does not concentrate holdings in such securities.

> ***Market Volatility Risk:*** The value of the securities in the Series may go up or down in response to the prospects of individual companies and/or general economic conditions. Price changes may be short- or long-term. Local, regional or global events such as war or military conflict (e.g., Russia's invasion of Ukraine), geopolitical risk, acts of terrorism, the spread of infectious illness or other public health issue, recessions, tariffs and other restrictions on trade, or the threat or potential of one or more such events and developments, could have a significant impact on the Series and its investments, including hampering the ability of the Series' portfolio manager(s) to invest the Series' assets as intended.

> ***Equity Real Estate Investment Trust (REIT) Securities Risk:*** The Series' value may be negatively affected by factors specific to the real estate market such as interest rates, leverage, property, and management. The Series' value may also be negatively affected by factors specific to investing through a pooled vehicle, such as poor management, concentration risk, or other risks typically associated with investing in small or medium market capitalization companies.

> ***Redemption Risk:*** One or more large shareholders or groups of shareholders may redeem their holdings in the Series, resulting in an adverse impact on remaining shareholders in the Series by causing the Series to take actions it would not otherwise have taken. The effects of taxable gains resulting from large redemptions of Series shares would particularly impact non-redeeming shareholders who do not hold their Series shares in a tax-advantaged or tax-exempt vehicle. Such large shareholder redemptions, which may occur rapidly or unexpectedly, may cause a Series to sell portfolio securities at times when it would not otherwise do so, which may negatively impact the Series' NAV and liquidity. In addition, a large redemption could result in the Series' current expenses being allocated over a smaller asset base, leading to an increase in the Series' expense ratio.

#### Performance Information
The following bar chart and table provide some indication of the risks of investing in the Series. The bar chart shows changes in the Series' performance from year to year over a 10-year period. The Series' past performance is not necessarily an indication of how the Series will perform in the future. The table shows how the Series' average annual returns compare to those of a broad-based securities market index and a style-specific index that reflects the market sectors in which the Series invests. The Series' returns in the chart and table do not reflect the deduction of any separate account or variable contract charges. The returns would have been less than those shown if such charges were deducted. Updated performance information is available at virtus.com or by calling 800-367-5877.

**Calendar year total returns for Class A Shares** <br>

![PerformanceBarChartData(2016:6.82, 2017:5.97, 2018:-6.53, 2019:27.42, 2020:-1.55, 2021:46.41354, 2022:-26.089676, 2023:11.026777, 2024:10.917886, 2025:0.72)](img_1551faa4a72e4.jpg)

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| Best Quarter: | 2024, Q3: | 17.15% | Worst Quarter: | 2020, Q1: | -22.92% | Year to Date (3/31/2026): | 4.40% |

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**Average Annual Total Returns** (for the periods ended 12/31/2025)

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| | | | |
|:---|:---|:---|:---|
| **Class** | **1 Year** | **5 Years** | **10 Years** |
| Class A Shares | 0.72% | 6.06% | 5.95% |
| **Index** |  |  |  |
| FT Wilshire 5000 Index (reflects no deduction for fees, expenses or taxes) | 17.13% | 13.40% | 14.45% |
| FTSE Nareit Equity REITs Index (reflects no deduction for fees, expenses or taxes) | 2.88% | 6.63% | 5.70% |

---

The FT Wilshire 5000 Index is a broad-based free-float market capitalization-weighted index that aims to capture 100% of the U.S. investable market capitalization. The index is calculated on a total return basis with dividends reinvested. The index is unmanaged and not available for direct investment.

The FTSE NAREIT Equity REITs Index is a free-float market capitalization index measuring equity tax-qualified REITs, which meet minimum size and liquidity criteria, that are listed on the New York Stock Exchange, the American Stock Exchange and the NASDAQ National Market System. The FTSE NAREIT Equity REITs Index is calculated on a total return basis with dividends reinvested. The index is unmanaged and not available for direct investment.

#### Management
The Series' investment adviser is Virtus Investment Advisers, LLC (formerly known as Virtus Investment Advisers, Inc.) ("VIA").

The Series' subadviser is Duff & Phelps Investment Management Co. ("Duff & Phelps"), an affiliate of VIA.

#### Portfolio Management
The following individuals are jointly and primarily responsible for the day-to-day management of the Series' portfolio.

> ***Geoffrey P. Dybas, CFA,*** Executive Managing Director, Global Real Estate Securities team head and Senior Portfolio Manager at Duff & Phelps. Mr. Dybas has served as a Portfolio Manager of the Series since 2007.

> ***Frank J. Haggerty, Jr., CFA,*** Senior Managing Director and Senior Portfolio Manager at Duff & Phelps. Mr. Haggerty has served as a Portfolio Manager of the Series since 2007.

#### Purchase and Sale of Series Shares
The Series does not offer its shares to the general public. The Series currently offers shares only to the separate accounts of participating insurance companies. Virtus Variable Insurance Trust (the "Trust"), of which the Series is a separate investment portfolio, has entered into an agreement with the insurance company sponsor of each separate account (participation agreement) setting forth the terms and conditions pursuant to which the insurance company will purchase and redeem shares of the Series. For information concerning the purchase of units of the separate accounts, see the variable contract prospectus.

#### Tax Information
Since the separate accounts are the only shareholders of the Series, no discussion is included herein as to the federal income tax consequences at the shareholder level. For information concerning the federal income tax consequences to the purchasers of variable contracts, see the variable contract prospectus which describes the particular separate account and variable contract.

#### Payments to Insurance Companies and Other Financial Intermediaries
Series shares are generally available only through intermediaries, i.e., the separate accounts. The Series (and/or its related companies) may pay the insurance companies (and/or their related companies) for distribution and/or other services; some of the payments may, in turn, go to broker-dealers and other financial intermediaries. For example, the Series may make payments for sub-transfer agency services to one or more of the insurance companies. Such payments may create a conflict of interest for an intermediary by influencing the intermediary's investment recommendations, or be a factor in the insurance company's decision to include the Series as an underlying investment option in a variable contract. Ask your salesperson or review your variable contract prospectus for more information.

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<br> One Financial PlazaHartford, CT 06103

<br> 8518-A 4-26

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