# EDGAR Filing Document

**Accession Number:** 0000756913
**File Stem:** 0001193125-26-177859
**Filing Date:** 2026-4
**Character Count:** 24105
**Document Hash:** d65df4901fda022b74aa2ccaddd65c56
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-177859.hdr.sgml**: 20260427

**ACCESSION NUMBER**: 0001193125-26-177859

**CONFORMED SUBMISSION TYPE**: 497K

**PUBLIC DOCUMENT COUNT**: 3

**FILED AS OF DATE**: 20260427

**DATE AS OF CHANGE**: 20260424

**EFFECTIVENESS DATE**: 20260427

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** JOHN HANCOCK VARIABLE INSURANCE TRUST
- **CENTRAL INDEX KEY:** 0000756913

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 0630

**FILING VALUES:**
- **FORM TYPE:** 497K
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 002-94157
- **FILM NUMBER:** 26896028

**BUSINESS ADDRESS:**
- **STREET 1:** C/O JOHN HANCOCK FUNDS
- **STREET 2:** 200 BERKELEY STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02116
- **BUSINESS PHONE:** 617-663-3000

**MAIL ADDRESS:**
- **STREET 1:** C/O JOHN HANCOCK FUNDS
- **STREET 2:** 200 BERKELEY STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02116

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** JOHN HANCOCK TRUST
- **DATE OF NAME CHANGE:** 20050124

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MANUFACTURERS INVESTMENT TRUST
- **DATE OF NAME CHANGE:** 19971022

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** NASL SERIES FUND INC
- **DATE OF NAME CHANGE:** 19881030

## Series and Classes Contracts Data

### American Asset Allocation Trust (Series ID: S000017250)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000047744 | Series I     | JAHZX           |
| C000047745 | Series II    | JAIFX           |
| C000047746 | Series III   | JAIDX           |

![](g488173jh_blk.jpg)

**April 27, 2026**

**John Hancock Variable Insurance Trust**

**Summary prospectus**

American Asset Allocation Trust

Before you invest, you may want to review the fund's prospectus, which contains more information about the fund and its risks. You can find the fund's prospectus and other information about the fund, including the Statement of Additional Information and most recent reports, online at dfinview.com/johnhancock?site=funds. You can also get this information at no cost by sending an email request to webmail@jhancock.com or calling 800-344-1029 (for John Hancock Variable Annuities) or 800-732-5543 (for John Hancock Variable Life Insurance), or if your policy is held through another insurance company, please contact that company. The fund's [prospectus and Statement of Additional Information](https://www.sec.gov/ix?doc=/Archives/edgar/data/756913/000119312526156991/d224548d485bpos.htm), both dated April 27, 2026, as may be supplemented, and most recent [financial highlights](https://www.sec.gov/ix?doc=/Archives/edgar/data/756913/000075691326000008/8de7a0eecd56ac8.htm) information included in the shareholder report, dated December 31, 2025, are incorporated by reference into this summary prospectus. This summary prospectus is intended for use in connection with a variable contract as defined in Section 817(d) of the Internal Revenue Code and is not intended for use by other investors.

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| | | |
|:---|:---|:---|
| **Tickers** |  |  |
| Series I: JAHZX | Series II: JAIFX | Series III: JAIDX |

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**Investment objective**

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To seek to provide high total return (including income and capital gains) consistent with preservation of capital over the long term.

**Fees and expenses**

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This table describes the fees and expenses that you may pay if you buy, hold, and sell shares of the fund. **The fees and expenses do not reflect fees and expenses of any variable insurance or variable annuities contract that may use the fund as its underlying investment option and would be higher if they did.** 

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| | | | |
|:---|:---|:---|:---|
| **Annual fund operating expenses (%)** (expenses that you pay each year as a percentage of the value of your investment) | **Series I** | **Series II** | **Series III** |
| Management fee | 0.26 <br><sup>1</sup><br>| 0.26 <br><sup>1</sup><br>| 0.26 <br><sup>1</sup><br>|
| Distribution and service (Rule 12b-1) fees | 0.60 | 0.75 | 0.25 |
| Other expenses | 0.06 <br><sup>1</sup><br>| 0.06 <br><sup>1</sup><br>| 0.06 <br><sup>1</sup><br>|
| **Total annual fund operating expenses** | **0.92** <br><sup>1</sup><br>| **1.07** <br><sup>1</sup><br>| **0.57** <br><sup>1</sup><br>|
| Contractual expense reimbursement | -0.01 <br><sup>2</sup><br>| -0.01 <br><sup>2</sup><br>| -0.01 <br><sup>2</sup><br>|
| **Total annual fund operating expenses after expense reimbursements** | **0.91** <br><sup>1</sup><br>| **1.06** <br><sup>1</sup><br>| **0.56** <br><sup>1</sup><br>|

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**1**

The table reflects the combined fees of the feeder fund and the master fund.

**2**

The advisor contractually agrees to waive a portion of its management fee and/or reimburse expenses for the fund and certain other John Hancock funds according to an asset level breakpoint schedule that is based on the aggregate net assets of all the funds participating in the waiver or reimbursement, including the fund (the participating portfolios). This waiver equals, on an annualized basis, 0.0100% of that portion of the aggregate net assets of all the participating portfolios that exceeds $75 billion but is less than or equal to $125 billion; 0.0125% of that portion of the aggregate net assets of all the participating portfolios that exceeds $125 billion but is less than or equal to $150 billion; 0.0150% of that portion of the aggregate net assets of all the participating portfolios that exceeds $150 billion but is less than or equal to $175 billion; 0.0175% of that portion of the aggregate net assets of all the participating portfolios that exceeds $175 billion but is less than or equal to $200 billion; 0.0200% of that portion of the aggregate net assets of all the participating portfolios that exceeds $200 billion but is less than or equal to $225 billion; and 0.0225% of that portion of the aggregate net assets of all the participating portfolios that exceeds $225 billion. The amount of the reimbursement is calculated daily and allocated among all the participating portfolios in proportion to the daily net assets of each participating portfolio. During its most recent fiscal year, the fund's reimbursement amounted to 0.01% of the fund's average daily net assets. This agreement expires on July 31, 2027, unless renewed by mutual agreement of the fund and the advisor based upon a determination that this is appropriate under the circumstances at that time.

**Expense example**

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The examples are intended to help you compare the cost of investing in the fund with the cost of investing in other mutual funds. The examples assume that $10,000 is invested in the fund for the periods indicated and then all shares are redeemed at the end of those periods. The examples also assume that the investment has a 5% return each year and that the fund's operating expenses remain the same. The expense example does not reflect fees and expenses of any variable insurance contract that may use the fund as its underlying investment option and would be higher if they did. Although your actual costs may be higher or lower, based on these assumptions your costs would be:

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American Asset Allocation Trust

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| | | | |
|:---|:---|:---|:---|
| **Expenses ($)** | **Series I** | **Series II** | **Series III** |
| 1 year | 93 | 108 | 57 |
| 3 years | 292 | 339 | 182 |
| 5 years | 508 | 589 | 317 |
| 10 years | 1130 | 1305 | 713 |

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**Portfolio turnover**

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The fund, which operates as a feeder fund, does not pay transaction costs, such as commissions, when it buys and sells shares of the master fund (or "turns over" its portfolio). A master fund does pay transaction costs 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 the master fund and of the fund. During its most recent fiscal year, the master fund's portfolio turnover rate was 115% of the average value of its portfolio.

**Principal investment strategies**

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The fund invests all of its assets in Class 1 shares of its master fund, the Asset Allocation Fund, a series of American Funds Insurance Series. The master fund invests in a diversified portfolio of common stocks and other equity securities, bonds and other intermediate and long-term debt securities, and money market instruments (debt securities maturing in one year or less). The master fund may invest up to 25% of its debt assets in lower quality debt securities (rated Ba1 or below and BB+ or below by a nationally recognized statistical rating organization ("NRSRO") designated by the master fund's investment advisor or unrated but determined to be of equivalent quality by the master fund's investment advisor). Such securities are sometimes referred to as "junk bonds."

In seeking to pursue its investment objective, the master fund varies its mix of equity securities, debt securities and money market instruments. Under normal market conditions, the master fund's investment advisor expects (but is not required) to maintain an investment mix falling within the following ranges: 40% – 80% in equity securities, 20% – 50% in debt securities and 0% – 40% in money market instruments and cash. As of December 31, 2025, the fund was approximately 65% invested in equity securities, 31% invested in debt securities and 4% invested in money market instruments and cash. The proportion of equities, debt and money market securities held by the master fund will vary with market conditions and the investment advisor's assessment of their relative attractiveness as investment opportunities. The master fund may invest up to 15% of its assets in common stocks and other equity securities of issuers domiciled outside the U.S. and up to 5% of its assets in debt securities tied economically to countries outside the U.S.

The master fund may invest in other funds managed by the investment advisor or its affiliates to more effectively invest in a diversified set of securities in a specific asset class such as money market instruments, bonds and other securities ("Central Funds"). Shares of Central Funds are only offered for purchase to the master fund's investment advisor and its affiliates and other funds, investment vehicles and accounts managed by the master fund's investment advisor and its affiliates. When investing in Central Funds, the master fund bears its proportionate share of the expenses of the Central Funds in which it invests but does not bear additional management fees through its investment in such Central Funds. The investment results of the portion of the master fund's assets invested in the Central Funds will be based upon the investment results of the Central Funds.

The manager considers environmental, social, and/or governance (ESG) factors, alongside other relevant factors, as part of its investment process. ESG factors may include, but are not limited to, matters regarding board diversity, climate change policies, and supply chain and human rights policies. The ESG characteristics utilized in the fund's investment process may change over time and one or more characteristics may not be relevant with respect to all issuers that are eligible fund investments. Because ESG factors are considered alongside other relevant factors, the manager may determine that an investment is appropriate notwithstanding its relative ESG characteristics.

**Principal risks**

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An investment in the fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Many factors affect performance, and fund shares will fluctuate in price, meaning you could lose money. The fund's investment strategy may not produce the intended results.

The fund's main risks are listed below in alphabetical order, not in order of importance. *Before investing, be sure to read the additional descriptions of these risks beginning on page 257 of the prospectus*.

**Asset allocation risk.** Although allocation among asset categories generally limits exposure to any one category, the management team may favor a category that performs poorly relative to the others.

**Cash and cash equivalents risk.** Under certain market conditions, such as during a rising stock market, rising interest rate or rising credit spread markets, the use of cash and/or cash equivalents, including money market instruments, could have a negative effect on the fund's ability to achieve its investment objective and may negatively impact the fund's performance.

**Credit and counterparty risk.** The issuer or guarantor of a fixed-income security or a borrower of fund securities may not make timely payments or otherwise honor its obligations. A downgrade or default affecting any of the fund's securities could affect the fund's performance.

**2**

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American Asset Allocation Trust

**Economic and market events risk.** Events in the U.S. and global financial markets, including actions taken by the U.S. Federal Reserve or foreign central banks to stimulate or stabilize economic growth, may at times result in unusually high market volatility, which could negatively impact performance. Reduced liquidity in credit and fixed-income markets could adversely affect issuers worldwide. Banks and financial services companies could suffer losses if interest rates rise or economic conditions deteriorate.

**Equity securities risk.** The price of equity securities may decline due to changes in a company's financial condition or overall market conditions.

**ESG integration risk.** The manager considers ESG factors that it deems relevant or additive, along with other material factors and analysis, when managing the fund. ESG factors may include, but are not limited to, matters regarding board diversity, climate change policies, and supply chain and human rights policies. The manager may consider these ESG factors on all or a meaningful portion of the fund's investments. Integration of ESG factors into the fund's investment process does not preclude the fund from including companies with low ESG characteristics or excluding companies with high ESG characteristics in the fund's investments. Incorporating ESG criteria and making investment decisions based on certain ESG characteristics, as determined by the manager, carries the risk that the fund may perform differently, including underperforming, funds that do not utilize ESG criteria, or funds that utilize different ESG criteria.

**Fixed-income securities risk.** A rise in interest rates typically causes bond prices to fall. The longer the average maturity or duration of the bonds held by a fund, the more sensitive it will likely be to interest-rate fluctuations. An issuer may not make all interest payments or repay all or any of the principal borrowed. Changes in a security's credit quality may adversely affect fund performance.

**Foreign securities risk.** Less information may be publicly available regarding foreign issuers, including foreign government issuers. Foreign securities may be subject to foreign taxes and may be more volatile than U.S. securities. Currency fluctuations and political and economic developments may adversely impact the value of foreign securities.

**Income stock risk.** Income provided by the fund may be affected by changes in the dividend polices of the companies in which the fund invests and the capital resources available for such payments at such companies.

**Investment company securities risk.** Fund shareholders indirectly bear their proportionate share of the expenses of any investment company in which the fund invests. The total return on such investments will be reduced by the operating expenses and fees of such other investment companies, including advisory fees.

**Large company risk.** Larger companies may grow more slowly than smaller companies or be slower to respond to business developments. Large-capitalization securities may underperform the market as a whole.

**Liquidity risk.** The extent (if at all) to which a security may be sold without negatively impacting its market value may be impaired by reduced market activity or participation, legal restrictions, or other economic and market impediments. Liquidity risk may be magnified in rising interest rate environments due to higher than normal redemption rates. Widespread selling of fixed-income securities to satisfy redemptions during periods of reduced demand may adversely impact the price or salability of such securities. Periods of heavy redemption could cause the fund to sell assets at a loss or depressed value, which could negatively affect performance. Redemption risk is heightened during periods of declining or illiquid markets.

**Lower-rated and high-yield fixed-income securities risk.** Lower-rated and high-yield fixed-income securities (junk bonds) are subject to greater credit quality risk, risk of default, and price volatility than higher-rated fixed-income securities, may be considered speculative, and can be difficult to resell.

**Operational and cybersecurity risk.** Cybersecurity breaches may allow an unauthorized party to gain access to fund assets, customer data, or proprietary information, or cause a fund or its service providers to suffer data corruption or lose operational functionality. Similar incidents affecting issuers of a fund's securities may negatively impact performance. Operational risk may arise from human error, error by third parties, communication errors, or technology failures, among other causes.

**Small and mid-sized company risk.** Small and mid-sized companies are generally less established and may be more volatile than larger companies. Small and/or mid-capitalization securities may underperform the market as a whole.

**Past performance**

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The following information illustrates the variability of the fund's returns and provides some indication of the risks of investing in the fund by showing changes in the fund's performance from year to year and by showing how the fund's average annual returns compared with a broad-based securities market index. Past performance does not indicate future results. The Bloomberg U.S. Aggregate Bond Index and the 60% S&P 500 Index/40% Bloomberg U.S. Aggregate Bond Index show how the fund's performance compares against the returns of similar investments. All figures assume dividend reinvestment. The performance information below does not reflect fees and expenses of any variable insurance contract which may use JHVIT as its underlying investment option. If such fees and expenses had been reflected, performance would be lower.

**3**

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American Asset Allocation Trust

**Calendar year total returns (%)—Series II**

![](g488173amasstallot_ii.jpg)

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| | | |
|:---|:---|:---|
| **Best quarter:** | Q2 2020 | 13.62% |
| **Worst quarter:** | Q1 2020 | -13.59% |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| | | | |
|:---|:---|:---|:---|
| **Average annual total returns (%)—as of 12/31/2025** | **1 year** | **5 year** | **10 year** |
| **Series I** | 15.39 | &nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;8.57 | &nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;9.37 |
| **Series II** | 15.31 | &nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;8.47 | &nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;9.27 |
| **Series III** | 15.76 | &nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;8.94 | &nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;9.76 |
| S&P 500 Index (reflects no deduction for fees, expenses, or taxes) | 17.88 | &nbsp;&nbsp;&nbsp;&nbsp;14.42 | &nbsp;&nbsp;&nbsp;&nbsp;14.82 |
| Bloomberg U.S. Aggregate Bond Index (reflects no deduction for fees, expenses, or taxes) | &nbsp;&nbsp; 7.30 | &nbsp;&nbsp;&nbsp; -0.36 | &nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;2.01 |
| 60% S&P 500 Index/40% Bloomberg U.S. Aggregate Bond Index (reflects no deduction for fees, expenses, or taxes) | 13.70 | &nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;8.47 | &nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;9.78 |

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**Investment management**

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**Investment advisor of the master fund** Capital Research and Management Company

**Portfolio management**

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The following individuals are jointly and primarily responsible for the day-to-day management of the master fund's portfolio.

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| | | |
|:---|:---|:---|
| **Alan N. Berro** | **Tom Chow** | **Emme Kozloff** |
| *Partner - Capital World Investors*<br> Managed fund since 2000<br>| &nbsp;&nbsp; *Partner - Capital Fixed Income Investors*<br> Managed fund since 2025<br>| &nbsp;&nbsp; *Partner - Capital World Investors*<br> Managed fund since 2021<br>|
| **Jin Lee**<br> *Partner - Capital World Investors*<br> Managed fund since 2018<br>| &nbsp;&nbsp; **John R. Queen**<br> *Partner - Capital Fixed Income Investors*<br> Managed fund since 2016<br>| &nbsp;&nbsp; **Justin Toner**<br> *Partner - Capital World Investors*<br> Managed fund since 2016<br>|

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**Purchase and redemption of fund shares**

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Shares of the fund are not sold directly to the public but generally may be sold only to insurance companies and their separate accounts as the underlying investment options for variable annuity and variable life insurance contracts issued by such companies, to certain entities affiliated with the insurance companies, to those funds of JHVIT that operate as funds of funds and invest in other funds and to certain qualified retirement plans (qualified plans).

Shares of the fund are offered continuously, without sales charge, and are sold and redeemed each business day (which typically is any day the New York Stock Exchange is open) at a price equal to their net asset value (NAV) determined for that business day as set forth under "Valuation of shares" in this prospectus. The Portfolio does not have minimum initial or subsequent investment requirements. Payment for shares redeemed will generally be made within seven days after receipt of a proper notice of redemption.

**Taxes**

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Because shares of the fund may be purchased only through variable insurance contracts and qualified plans, it is expected that any dividends or capital gains distributions made by the fund will be exempt from current federal taxation if left to accumulate within the variable contract or qualified plan. Holders of variable insurance contracts should consult the prospectuses of their respective contracts for information on the federal income tax consequences to such holders.

**Compensation of financial intermediaries**

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The fund is not sold directly to the general public but instead is offered as an underlying investment option for variable insurance contracts. The distributors of these contracts, the insurance companies that issue the contracts and their related companies (Related Parties), may pay compensation to broker-dealers and other intermediaries for distribution and other services and may enter into revenue sharing arrangements with certain intermediaries. The fund pays fees to the Related Parties for management, distribution and other services. Payments by insurance and related companies to intermediaries may create a conflict of interest by influencing them and their salespersons to recommend such contracts over other investments. Ask your salesperson or visit your financial intermediary's website for more information. In addition, payments by the funds to Related Parties may be a factor that an insurance company considers in including the funds as underlying investment options in variable insurance contracts. The prospectus (or other offering document) for your variable insurance contract may contain additional information about these payments.

**4**

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![](g488173jh_blk.jpg)© 2026 John Hancock Distributors, LLC, Member FINRA, SIPC <br>200 Berkeley Street, Boston, MA 02116 <br>John Hancock Variable Annuities: 800-344-1029 <br>John Hancock Variable Life Insurance: 800-732-5543 <br>johnhancock.com

SEC file number: 811-04146 <br>4/27/26

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