# EDGAR Filing Document

**Accession Number:** 0000353905
**File Stem:** 0001680359-25-000539
**Filing Date:** 2025-7
**Character Count:** 26427
**Document Hash:** 26a43d09188a03602de465869856ebf7
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001680359-25-000539.hdr.sgml**: 20250701

**ACCESSION NUMBER**: 0001680359-25-000539

**CONFORMED SUBMISSION TYPE**: 497

**PUBLIC DOCUMENT COUNT**: 3

**FILED AS OF DATE**: 20250701

**DATE AS OF CHANGE**: 20250701

**EFFECTIVENESS DATE**: 20250701

**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:** 497
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 002-73024
- **FILM NUMBER:** 251095077

**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 Government Bond Fund (Series ID: S000005400)

---

|  |  |
|:---|:---|
| Class Name | Class ID   |
| Class I    | C000014696 |
| Class II   | C000014697 |
| Class IV   | C000014699 |
| Class P    | C000112220 |
| Class Y    | C000139942 |

---

### NVIT International Equity Fund (Series ID: S000005402)

---

|  |  |
|:---|:---|
| Class Name | Class ID   |
| Class I    | C000014702 |
| Class II   | C000033125 |
| Class Y    | C000062008 |

---

### NVIT Government Money Market Fund (Series ID: S000005409)

---

|  |  |
|:---|:---|
| Class Name | Class ID   |
| Class I    | C000014718 |
| Class IV   | C000014719 |
| Class V    | C000014720 |
| Class II   | C000079439 |
| Class Y    | C000204950 |

---

### NVIT Mid Cap Index Fund (Series ID: S000005410)

---

|  |  |
|:---|:---|
| Class Name | Class ID   |
| Class I    | C000014721 |
| Class II   | C000014722 |
| Class Y    | C000034093 |

---

### NVIT AQR Large Cap Defensive Style Fund (Series ID: S000005412)

---

|  |  |
|:---|:---|
| Class Name | Class ID   |
| Class I    | C000014724 |
| Class II   | C000014725 |
| Class IV   | C000014727 |
| Class Y    | C000062009 |

---

### NVIT S&P 500 Index Fund (Series ID: S000005416)

---

|  |  |
|:---|:---|
| Class Name | Class ID   |
| Class IV   | C000014735 |
| Class I    | C000033129 |
| Class II   | C000033130 |
| Class Y    | C000034094 |

---

### NVIT Invesco Small Cap Growth Fund (Series ID: S000005417)

---

|  |  |
|:---|:---|
| Class Name | Class ID   |
| Class I    | C000014736 |
| Class II   | C000014737 |

---

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

---

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

---

### NVIT Multi-Manager Small Company Fund (Series ID: S000005419)

---

|  |  |
|:---|:---|
| Class Name | Class ID   |
| Class I    | C000014743 |
| Class II   | C000014744 |
| Class IV   | C000014746 |

---

### NVIT Loomis Short Term High Yield Fund (Series ID: S000005421)

---

|  |  |
|:---|:---|
| Class Name | Class ID   |
| Class I    | C000014749 |

---

### NVIT BlackRock Equity Dividend Fund (Series ID: S000005422)

---

|  |  |
|:---|:---|
| Class Name | Class ID   |
| Class I    | C000014751 |
| Class II   | C000014752 |
| Class IV   | C000014753 |
| Class Y    | C000062013 |

---

### NVIT Strategic Income Fund (Series ID: S000005423)

---

|  |  |
|:---|:---|
| Class Name | Class ID   |
| Class I    | C000014754 |

---

### NVIT Fidelity Institutional AM Emerging Markets Fund (Series ID: S000005425)

---

|  |  |
|:---|:---|
| Class Name | Class ID   |
| Class I    | C000014756 |
| Class II   | C000014757 |
| Class Y    | C000075321 |
| Class D    | C000168057 |

---

### NVIT Bond Index Fund (Series ID: S000012312)

---

|  |  |
|:---|:---|
| Class Name | Class ID   |
| Class Y    | C000033502 |
| Class II   | C000033503 |
| Class I    | C000139944 |

---

### NVIT International Index Fund (Series ID: S000012313)

---

|  |  |
|:---|:---|
| Class Name | Class ID   |
| Class Y    | C000033505 |
| Class II   | C000033506 |
| Class VIII | C000033509 |
| Class I    | C000139945 |

---

### NVIT Small Cap Index Fund (Series ID: S000012314)

---

|  |  |
|:---|:---|
| Class Name | Class ID   |
| Class II   | C000033510 |
| Class Y    | C000033512 |

---

### NVIT Loomis Core Bond Fund (Series ID: S000021031)

---

|  |  |
|:---|:---|
| Class Name | Class ID   |
| Class I    | C000059797 |
| Class II   | C000059798 |
| Class Y    | C000059799 |
| Class P    | C000112229 |

---

### NVIT GQG US Quality Equity Fund (Series ID: S000021032)

---

|  |  |
|:---|:---|
| Class Name | Class ID   |
| Class I    | C000059800 |
| Class II   | C000059801 |
| Class Y    | C000059802 |

---

### NVIT NS Partners International Focused Growth Fund (Series ID: S000021034)

---

|  |  |
|:---|:---|
| Class Name | Class ID   |
| Class I    | C000059808 |
| Class II   | C000059809 |

---

### NVIT Jacobs Levy Large Cap Growth Fund (Series ID: S000021035)

---

|  |  |
|:---|:---|
| Class Name | Class ID   |
| Class I    | C000059811 |
| Class II   | C000059812 |

---

### NVIT Allspring Discovery Fund (Series ID: S000021036)

---

|  |  |
|:---|:---|
| Class Name | Class ID   |
| Class I    | C000059814 |
| Class II   | C000059815 |

---

### NVIT Victory Mid Cap Value Fund (Series ID: S000021037)

---

|  |  |
|:---|:---|
| Class Name | Class ID   |
| Class I    | C000059817 |
| Class II   | C000059818 |

---

### NVIT Jacobs Levy Large Cap Core Fund (Series ID: S000021038)

---

|  |  |
|:---|:---|
| Class Name | Class ID   |
| Class I    | C000059820 |
| Class II   | C000059821 |

---

### NVIT Real Estate Fund (Series ID: S000021039)

---

|  |  |
|:---|:---|
| Class Name | Class ID   |
| Class I    | C000059822 |
| Class II   | C000059823 |

---

### NVIT Loomis Short Term Bond Fund (Series ID: S000021040)

---

|  |  |
|:---|:---|
| Class Name | Class ID   |
| Class I    | C000059825 |
| Class II   | C000059826 |
| Class Y    | C000059827 |
| Class P    | C000112231 |

---

### NVIT BNY Mellon Dynamic U.S. Equity Income Fund (Series ID: S000025032)

---

|  |  |
|:---|:---|
| Class Name | Class ID   |
| Class I    | C000074469 |
| Class II   | C000074470 |
| Class Y    | C000074471 |
| Class Z    | C000220661 |
| Class X    | C000220662 |

---

### NVIT BNY Mellon Dynamic U.S. Core Fund (Series ID: S000025033)

---

|  |  |
|:---|:---|
| Class Name | Class ID   |
| Class II   | C000074472 |
| Class Y    | C000074473 |
| Class I    | C000074474 |
| Class P    | C000112232 |

---

### NVIT Putnam International Value Fund (Series ID: S000025034)

---

|  |  |
|:---|:---|
| Class Name | Class ID   |
| Class I    | C000074475 |
| Class II   | C000074476 |
| Class Y    | C000074479 |
| Class Z    | C000220663 |
| Class X    | C000220664 |

---

### NVIT DoubleLine Total Return Tactical Fund (Series ID: S000058808)

---

|  |  |
|:---|:---|
| Class Name | Class ID   |
| Class I    | C000192909 |
| Class II   | C000192910 |
| Class Y    | C000192911 |

---

### NVIT J.P. Morgan U.S. Equity Fund (Series ID: S000065085)

---

|  |  |
|:---|:---|
| Class Name | Class ID   |
| Class II   | C000210766 |
| Class Y    | C000210767 |

---

### NVIT J.P. Morgan Digital Evolution Strategy Fund (Series ID: S000075637)

---

|  |  |
|:---|:---|
| Class Name | Class ID   |
| Class Y    | C000234864 |
| Class II   | C000258195 |

---

### NVIT J.P. Morgan Innovators Fund (Series ID: S000075638)

---

|  |  |
|:---|:---|
| Class Name | Class ID   |
| Class Y    | C000234865 |

---

### NVIT J.P. Morgan Large Cap Growth Fund (Series ID: S000075639)

---

|  |  |
|:---|:---|
| Class Name | Class ID   |
| Class Y    | C000234866 |
| Class II   | C000258196 |
| Class I    | C000258197 |

---

### NVIT J.P. Morgan US Technology Leaders Fund (Series ID: S000075640)

---

|  |  |
|:---|:---|
| Class Name | Class ID   |
| Class Y    | C000234867 |
| Class II   | C000258198 |

---

## Series and Classes Contracts Data

### NVIT Government Bond Fund (Series ID: S000005400)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000014696 | Class I      |  |
| C000014697 | Class II     |  |
| C000014699 | Class IV     |  |
| C000112220 | Class P      |  |
| C000139942 | Class Y      |  |

### NVIT International Equity Fund (Series ID: S000005402)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000014702 | Class I      |  |
| C000033125 | Class II     |  |
| C000062008 | Class Y      |  |

### NVIT Government Money Market Fund (Series ID: S000005409)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000014718 | Class I      |  |
| C000014719 | Class IV     |  |
| C000014720 | Class V      |  |
| C000079439 | Class II     |  |
| C000204950 | Class Y      |  |

### NVIT Mid Cap Index Fund (Series ID: S000005410)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000014721 | Class I      |  |
| C000014722 | Class II     |  |
| C000034093 | Class Y      |  |

### NVIT AQR Large Cap Defensive Style Fund (Series ID: S000005412)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000014724 | Class I      |  |
| C000014725 | Class II     |  |
| C000014727 | Class IV     |  |
| C000062009 | Class Y      |  |

### NVIT S&P 500 Index Fund (Series ID: S000005416)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000014735 | Class IV     |  |
| C000033129 | Class I      |  |
| C000033130 | Class II     |  |
| C000034094 | Class Y      |  |

### NVIT Invesco Small Cap Growth Fund (Series ID: S000005417)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000014736 | Class I      |  |
| C000014737 | Class II     |  |

### 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     |  |

### NVIT Multi-Manager Small Company Fund (Series ID: S000005419)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000014743 | Class I      |  |
| C000014744 | Class II     |  |
| C000014746 | Class IV     |  |

### NVIT Loomis Short Term High Yield Fund (Series ID: S000005421)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000014749 | Class I      |  |

### NVIT BlackRock Equity Dividend Fund (Series ID: S000005422)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000014751 | Class I      |  |
| C000014752 | Class II     |  |
| C000014753 | Class IV     |  |
| C000062013 | Class Y      |  |

### NVIT Strategic Income Fund (Series ID: S000005423)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000014754 | Class I      |  |

### NVIT Fidelity Institutional AM Emerging Markets Fund (Series ID: S000005425)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000014756 | Class I      |  |
| C000014757 | Class II     |  |
| C000075321 | Class Y      |  |
| C000168057 | Class D      |  |

### NVIT Bond Index Fund (Series ID: S000012312)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000033502 | Class Y      |  |
| C000033503 | Class II     |  |
| C000139944 | Class I      |  |

### NVIT International Index Fund (Series ID: S000012313)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000033505 | Class Y      |  |
| C000033506 | Class II     |  |
| C000033509 | Class VIII   |  |
| C000139945 | Class I      |  |

### NVIT Small Cap Index Fund (Series ID: S000012314)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000033510 | Class II     |  |
| C000033512 | Class Y      |  |

### NVIT Loomis Core Bond Fund (Series ID: S000021031)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000059797 | Class I      |  |
| C000059798 | Class II     |  |
| C000059799 | Class Y      |  |
| C000112229 | Class P      |  |

### NVIT GQG US Quality Equity Fund (Series ID: S000021032)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000059800 | Class I      |  |
| C000059801 | Class II     |  |
| C000059802 | Class Y      |  |

### NVIT NS Partners International Focused Growth Fund (Series ID: S000021034)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000059808 | Class I      |  |
| C000059809 | Class II     |  |

### NVIT Jacobs Levy Large Cap Growth Fund (Series ID: S000021035)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000059811 | Class I      |  |
| C000059812 | Class II     |  |

### NVIT Allspring Discovery Fund (Series ID: S000021036)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000059814 | Class I      |  |
| C000059815 | Class II     |  |

### NVIT Victory Mid Cap Value Fund (Series ID: S000021037)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000059817 | Class I      |  |
| C000059818 | Class II     |  |

### NVIT Jacobs Levy Large Cap Core Fund (Series ID: S000021038)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000059820 | Class I      |  |
| C000059821 | Class II     |  |

### NVIT Real Estate Fund (Series ID: S000021039)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000059822 | Class I      |  |
| C000059823 | Class II     |  |

### NVIT Loomis Short Term Bond Fund (Series ID: S000021040)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000059825 | Class I      |  |
| C000059826 | Class II     |  |
| C000059827 | Class Y      |  |
| C000112231 | Class P      |  |

### NVIT BNY Mellon Dynamic U.S. Equity Income Fund (Series ID: S000025032)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000074469 | Class I      |  |
| C000074470 | Class II     |  |
| C000074471 | Class Y      |  |
| C000220661 | Class Z      |  |
| C000220662 | Class X      |  |

### NVIT BNY Mellon Dynamic U.S. Core Fund (Series ID: S000025033)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000074472 | Class II     |  |
| C000074473 | Class Y      |  |
| C000074474 | Class I      |  |
| C000112232 | Class P      |  |

### NVIT Putnam International Value Fund (Series ID: S000025034)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000074475 | Class I      |  |
| C000074476 | Class II     |  |
| C000074479 | Class Y      |  |
| C000220663 | Class Z      |  |
| C000220664 | Class X      |  |

### NVIT DoubleLine Total Return Tactical Fund (Series ID: S000058808)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000192909 | Class I      |  |
| C000192910 | Class II     |  |
| C000192911 | Class Y      |  |

### NVIT J.P. Morgan U.S. Equity Fund (Series ID: S000065085)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000210766 | Class II     |  |
| C000210767 | Class Y      |  |

### NVIT J.P. Morgan Digital Evolution Strategy Fund (Series ID: S000075637)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000234864 | Class Y      |  |
| C000258195 | Class II     |  |

### NVIT J.P. Morgan Innovators Fund (Series ID: S000075638)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000234865 | Class Y      |  |

### NVIT J.P. Morgan Large Cap Growth Fund (Series ID: S000075639)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000234866 | Class Y      |  |
| C000258196 | Class II     |  |
| C000258197 | Class I      |  |

### NVIT J.P. Morgan US Technology Leaders Fund (Series ID: S000075640)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000234867 | Class Y      |  |
| C000258198 | Class II     |  |

---

| | |
|:---|:---|
| **NATIONWIDE VARIABLE INSURANCE TRUST** | **NATIONWIDE VARIABLE INSURANCE TRUST** |
| NVIT Allspring Discovery Fund | NVIT J.P. Morgan US Technology Leaders Fund |
| NVIT AQR Large Cap Defensive Style Fund | NVIT Jacobs Levy Large Cap Core Fund |
| NVIT BlackRock Equity Dividend Fund | NVIT Jacobs Levy Large Cap Growth Fund |
| NVIT BNY Mellon Dynamic U.S. Core Fund | NVIT Loomis Core Bond Fund *(formerly, NVIT Core* |
| NVIT BNY Mellon Dynamic U.S. Equity Income | *Bond Fund)* |
| Fund | NVIT Loomis Short Term Bond Fund |
| NVIT Bond Index Fund | NVIT Loomis Short Term High Yield Fund |
| NVIT DoubleLine Total Return Tactical Fund | *(formerly, NVIT Federated High Income Bond Fund)* |
| NVIT Fidelity Institutional AM<sup>®</sup> Emerging Markets | NVIT Mid Cap Index Fund |
| Fund *(formerly, NVIT Emerging Markets Fund)* | NVIT Multi-Manager Small Cap Value Fund |
| NVIT Government Bond Fund | NVIT Multi-Manager Small Company Fund |
| NVIT Government Money Market Fund | NVIT NS Partners International Focused Growth Fund |
| NVIT GQG US Quality Equity Fund *(formerly, NVIT* | NVIT Putnam International Value Fund *(formerly,* |
| *Calvert Equity Fund)* | *NVIT Columbia Overseas Value Fund)* |
| NVIT International Equity Fund | NVIT Real Estate Fund |
| NVIT International Index Fund | NVIT S&P 500 Index Fund |
| NVIT Invesco Small Cap Growth Fund | NVIT Small Cap Index Fund |
| NVIT J.P. Morgan Digital Evolution Strategy Fund | NVIT Strategic Income Fund *(formerly, NVIT* |
| NVIT J.P. Morgan Innovators Fund | *Amundi Multi Sector Bond Fund)* |
| NVIT J.P. Morgan Large Cap Growth Fund | NVIT Victory Mid Cap Value Fund |
| NVIT J.P. Morgan U.S. Equity Fund |  |

---

#### Supplement dated July 1, 2025

#### to the Statement of Additional Information ("SAI") 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 SAI.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. On June 10, 2025, the Board of Trustees of Nationwide Variable Insurance Trust (the "Trust") approved the nomination of Tracy Bollin (the "New Trustee") to serve as a Trustee of
 the Trust. His term commenced on July 1, 2025. The New Trustee is not considered to be an "interested person" of the Trust as defined in the Investment Company Act of 1940, as amended.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Effective immediately, the SAI is amended as follows:

<br> a. The following supplements the table under the heading "Independent Trustees" beginning on page 59 of the SAI:

---

| | | |
|:---|:---|:---|
| **Tracy Bollin** | **Tracy Bollin** | **Tracy Bollin** |
| **Year of Birth** | **Positions Held with Trust and Length of Time Served<sup>1</sup>** | **Number of Portfolios Overseen in the Nationwide Fund Complex** |
| 1970 | Trustee since July 2025 | 115 |
| **Principal Occupation(s) During the Past Five Years (or Longer)**<br> From 2015 until 2021, Mr. Bollin served as Vice President and CFO of Principal Funds, Managing Director of Fund Operations for Principal Global Investors, and President of Principal Shareholder Services. | **Principal Occupation(s) During the Past Five Years (or Longer)**<br> From 2015 until 2021, Mr. Bollin served as Vice President and CFO of Principal Funds, Managing Director of Fund Operations for Principal Global Investors, and President of Principal Shareholder Services. | **Principal Occupation(s) During the Past Five Years (or Longer)**<br> From 2015 until 2021, Mr. Bollin served as Vice President and CFO of Principal Funds, Managing Director of Fund Operations for Principal Global Investors, and President of Principal Shareholder Services. |
| **Other Directorships held During the Past Five Years<sup>2</sup>**<br> Board member of On With Life since September 2024. | **Other Directorships held During the Past Five Years<sup>2</sup>**<br> Board member of On With Life since September 2024. | **Other Directorships held During the Past Five Years<sup>2</sup>**<br> Board member of On With Life since September 2024. |
| **Experience, Qualifications, Attributes, and Skills for Board Membership**<br> Mr. Bollin has held multiple roles in the financial services industry, including positions in capital markets, finance, operations, and as a board member. | **Experience, Qualifications, Attributes, and Skills for Board Membership**<br> Mr. Bollin has held multiple roles in the financial services industry, including positions in capital markets, finance, operations, and as a board member. | **Experience, Qualifications, Attributes, and Skills for Board Membership**<br> Mr. Bollin has held multiple roles in the financial services industry, including positions in capital markets, finance, operations, and as a board member. |

---

------

<br> b. The information under the heading "Committees of the Board" beginning on page 64 of the SAI is modified as follows:

<br> i. The last sentence in the second paragraph is deleted and replaced with the following:

"The Audit and Operations Committee met five times during the past fiscal year, and currently consists of the following Trustees: Ms. Kosel, Ms. Petersen, Mr. Kridler, Mr. Wezdenko (Chair) and Mr. Bollin, each of whom is not an interested person of the Trust, as defined in the 1940 Act.

<br> c. The table under the heading "Ownership of Shares of Nationwide Funds as of December 31, 2024" on page 65 of the SAI is deleted in its entirety and replaced with the following:

---

| | | |
|:---|:---|:---|
| **Name of Trustee** | **Dollar Range of Equity Securities and/or Shares in the Funds<sup>1</sup>** | **Aggregate Dollar Range of Equity Securities and/or Shares in All Registered Investment Companies Overseen by Trustee in Family of Investment Companies** |
| **Independent Trustees** | **Independent Trustees** | **Independent Trustees** |
| Tracy Bollin<sup>2</sup> |  |  |
| Kristina Bradshaw |  | Over $100,000 |
| Lorn C. Davis |  | Over $100,000 |
| Barbara I. Jacobs |  | Over $100,000 |
| Keith F. Karlawish |  | Over $100,000 |
| Carol A. Kosel |  | Over $100,000 |
| Douglas F. Kridler |  | Over $100,000 |
| Charlotte Petersen |  | Over $100,000 |
| David E. Wezdenko |  | Over $100,000 |

---

<sup>1</sup> Individual investors, like the Trustees, are not eligible to purchase shares of the Funds because Fund shares are sold to separate accounts of insurance companies to fund benefits payable under variable insurance contracts or to registered management investment companies advised by NFA.

<sup>2</sup> Mr. Bollin's term as an Independent Trustee commenced effective July 1, 2025.

d. The table and accompanying footnotes under the heading "Ownership in the Funds' Investment Adviser<sup>1</sup>, Subadvisers<sup>2</sup> or Distributor<sup>3</sup> as of December 31, 2024" on page 65 of the SAI are deleted in their entirety and replaced with the following:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Name of Trustee** | **Name of Owners and<br> Relationships to Trustee** | **Name of Company** | **Title of Class<br> of Security** | **Value of Securities** | **Percent of Class** |
| Tracy Bollin<sup>4</sup> | N/A | N/A | N/A |  | N/A |
| Kristina Bradshaw | N/A | N/A | N/A |  | N/A |
| Lorn C. Davis | N/A | N/A | N/A |  | N/A |
| Barbara I. Jacobs | N/A | N/A | N/A |  | N/A |
| Keith F. Karlawish | N/A | N/A | N/A |  | N/A |
| Carol A. Kosel | N/A | N/A | N/A |  | N/A |
| Douglas F. Kridler | N/A | N/A | N/A |  | N/A |
| Charlotte Petersen | N/A | N/A | N/A |  | N/A |
| David E. Wezdenko | N/A | N/A | N/A |  | N/A |

---

<sup>1</sup> Nationwide Fund Advisors.<br>

------

<sup>2</sup> As of December 31, 2024, subadvisers to the Trust included: Allspring Global Investments, LLC; Amundi Asset Management US, Inc.; AQR Capital Management, LLC; Atlanta Capital Management Company, LLC; BlackRock Investment Management, LLC; Columbia Management Investment Advisers, LLC; DoubleLine Capital LP; Dreyfus, a division of Mellon Investments Corporation; Federated Investment Management Company; Goldman Sachs Asset Management, L.P.; Insight North America LLC; Invesco Advisers, Inc.; Jacobs Levy Equity Management, Inc.; J.P. Morgan Investment Management Inc.; Lazard Asset Management LLC; Loomis, Sayles & Company, L.P.; Nationwide Asset Management, LLC; Newton Investment Management North America, LLC; NS Partners Ltd; Victory Capital Management Inc.; WCM Investment Management, LLC; and Wellington Management Company LLP.<br>

 <sup>3</sup> Nationwide Fund Distributors LLC or any company, other than an investment company, that controls a Fund's adviser or distributor.<br><sup>4</sup> Mr. Bollin's term as an Independent Trustee commenced effective July 1, 2025.<br>

<br> e. The table under the heading "Compensation of Trustees" beginning on page 65 of the SAI is deleted in its entirety and replaced with the following:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Name of Trustee** | **Aggregate<br> Compensation<br> from the Trust** | **Pension<br> Retirement<br> Benefits Accrued<br> as Part of Trust<br> Expenses** | **Estimated Annual<br> Benefits Upon<br> Retirement** | **Total Compensation<br> from the Fund<br> Complex<sup>1</sup>** |
| Tracy Bollin<sup>2</sup> | $0 | N/A | N/A | $0 |
| Kristina Bradshaw | 284688 | N/A | N/A | 385000 |
| Lorn C. Davis | 284688 | N/A | N/A | 385000 |
| Barbara I. Jacobs | 295777 | N/A | N/A | 400000 |
| Keith F. Karlawish | 366007 | N/A | N/A | 495000 |
| Carol A. Kosel | 296439 | N/A | N/A | 401000 |
| Douglas F. Kridler | 310566 | N/A | N/A | 420000 |
| Charlotte Petersen | 284721 | N/A | N/A | 385000 |
| David E. Wezdenko | 295777 | N/A | N/A | 400000 |

---

<sup>1</sup> As of December 31, 2024, the Fund Complex included two trusts comprised of 115 investment company funds or series.<br><sup>2</sup> Mr. Bollin's term as an Independent Trustee commenced effective July 1, 2025.<br>

#### PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE