# EDGAR Filing Document

**Accession Number:** 0000353905
**File Stem:** 0001193125-25-324465
**Filing Date:** 2025-12
**Character Count:** 7307
**Document Hash:** 4f73cad5b105607bdf426aa3274a8592
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-25-324465.hdr.sgml**: 20251218

**ACCESSION NUMBER**: 0001193125-25-324465

**CONFORMED SUBMISSION TYPE**: 497K

**PUBLIC DOCUMENT COUNT**: 3

**FILED AS OF DATE**: 20251218

**DATE AS OF CHANGE**: 20251218

**EFFECTIVENESS DATE**: 20251218

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** NATIONWIDE VARIABLE INSURANCE TRUST
- **CENTRAL INDEX KEY:** 0000353905

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 497K
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 002-73024
- **FILM NUMBER:** 251582804

**BUSINESS ADDRESS:**
- **STREET 1:** ONE NATIONWIDE PLAZA
- **STREET 2:** MAIL CODE 5-02-210
- **CITY:** COLUMBUS
- **STATE:** OH
- **ZIP:** 43215
- **BUSINESS PHONE:** 614-435-5749

**MAIL ADDRESS:**
- **STREET 1:** ONE NATIONWIDE PLAZA
- **STREET 2:** MAIL CODE 5-02-210
- **CITY:** COLUMBUS
- **STATE:** OH
- **ZIP:** 43215

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** GARTMORE VARIABLE INSURANCE TRUST
- **DATE OF NAME CHANGE:** 20020125

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** NATIONWIDE SEPARATE ACCOUNT TRUST
- **DATE OF NAME CHANGE:** 19920703

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** NATIONWIDE SEPARATE ACCOUNT MONEY MARKET TRUST
- **DATE OF NAME CHANGE:** 19860226

## Series and Classes Contracts Data

### NVIT Multi-Manager Small Cap Value Fund (Series ID: S000005418)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000014739 | Class I      |  |
| C000014740 | Class II     |  |
| C000014742 | Class IV     |  |

**NATIONWIDE VARIABLE INSURANCE TRUST** 

NVIT Multi-Manager Small Cap Value Fund

**Supplement dated December 18, 2025** 

**to the Summary Prospectus dated April 30, 2025** 

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

1. At a meeting of the Board of Trustees (the "Board") of Nationwide Variable Insurance Trust held on
December 10, 2025, the Board approved the termination of WCM Investment Management, LLC ("WCM") as a subadviser to the NVIT Multi-Manager Small Cap Value Fund (the "Fund"), effective on or about March 2, 2026 (the
"Effective Date"). Accordingly, all references to, and information regarding, WCM are deleted in their entirety. Jacobs Levy Equity Management, Inc. ("Jacobs Levy"), will continue to serve as the Fund's sole subadviser.

2. As of the Effective Date, the Summary Prospectus is amended as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. The Fund is renamed the "NVIT Small Cap Value Fund." All references to the Fund's former name
in the Summary Prospectus are replaced accordingly.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. The information under the heading "Principal Investment Strategies" on page 2 of the Summary
Prospectus is deleted in its entirety and replaced with the following:

Under normal circumstances, the Fund invests at least 80% of its net assets in equity securities (primarily common stocks) issued by small-cap companies. The Fund invests primarily in value stocks, which are stocks that may be trading at prices that do not reflect a company's intrinsic value, based on such factors as a company's stock price relative to its book value, earnings and cash flow. The Fund may invest in real estate securities, including real estate investment trusts ("REITs"), and may invest up to 20% of its total assets in equity securities of foreign companies.

The subadviser invests in stocks using a dynamic, multidimensional investment process that combines human insight and intuition, finance and behavioral theory, and quantitative and statistical techniques. The subadviser's security evaluation process focuses on modeling a large number of stocks and proprietary factors, using financial statements, security analyst forecasts, corporate management signals, economic releases, and security prices. This investment approach is intended to seek diversification across market inefficiencies, securities, industries, and sectors, while managing known risk exposures relative to the Russell 2000 Value Index. The range of models is designed to allow the portfolio to be diversified across exposures to numerous potential opportunities. Nevertheless, the Fund may invest in any economic sector and, at times, emphasize one or more particular industries or sectors.

The subadviser generally considers selling a stock when the return prediction generated by its models, adjusted for risk and expected transaction costs, is notably surpassed by another stock's return prediction. Partial sales may occur when the subadviser's investment process determines that these transactions could benefit portfolio performance or when, as a result of market action, a position has grown to a size that impinges on portfolio risk or liquidity limitations. Sales may also occur under special circumstances; for example, if a company agrees to be acquired, and trades as a merger arbitrage situation, its stock may be sold. Sales can be triggered when necessary valuation data are no longer available; for example, if all security analysts drop coverage of a stock, the position may be sold.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. The information under the heading "Principal Risks" beginning on page 2 of the Summary Prospectus
is modified as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. "Initial public offering risk," "Multi-manager risk" and "Special situation
companies risk" are deleted in their entirety.

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii. "Selection risk" is deleted in its entirety and replaced with the following: "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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iii. The first sentence of "Model and data risk" is deleted and replaced with the following: "The
Fund's subadviser relies heavily on quantitative models and information and data supplied or made available by third parties ("Models and Data").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. The information under the heading "Portfolio Management – Subadvisers" on page 4 of the
Summary Prospectus is deleted in its entirety and replaced with the following:

Jacobs Levy Equity Management, Inc. ("Jacobs Levy")

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e. The table under the heading "Portfolio Management – Portfolio Managers" on page 5 of the
Summary Prospectus is deleted in its entirety and replaced with the following:

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;**Portfolio Manager** | **Title** | **Length of Service with Fund** |
| &nbsp;&nbsp;&nbsp;Bruce I. Jacobs, Ph.D. | Principal, Co-Chief Investment<br>Officer, Portfolio Manager and<br>Co-Director of Research | Since 2019 |
| &nbsp;&nbsp;&nbsp;Kenneth N. Levy, CFA | Principal, Co-Chief Investment<br>Officer, Portfolio Manager and<br>Co-Director of Research | Since 2019 |

---

**PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE**