DWS Small Mid Cap Growth VIP
Data updated: 2026-08-27
C000017214 — DWS Small Mid Cap Growth VIP. United States Mid Cap Growth Equity · $54.55M AUM. Holdings, fees, performance and SEC filings.
C000017214 Fund Overview
DWS Small Mid Cap Growth VIP is a US mutual fund managed by Deutsche Dws Variable Series II, categorised as United States Mid Cap Growth Equity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Deutsche Dws Variable Series II
- Category: United States Mid Cap Growth Equity
- Assets under management: $54.55M
- 1-year return: 30.1%
- SEC CIK: 0000810573
- SEC series ID: S000006260
- Share class ID: C000017214
C000017214 Investment Objective and Strategy
DWS Small Mid Cap Growth VIP describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Deutsche Dws Variable Series II.
Investment objective
The fund seeks long-term capital appreciation.
Principal investment strategy
Main investments. Under normal circumstances, the fund invests at least 80% of net assets, plus the amount of any borrowings for investment purposes, in common stocks and other equity securities of small and mid-sized US companies. The fund defines small companies as those that are similar in market capitalization to those in the Russell 2000 Growth Index. While the market capitalization of the Russell 2000 Growth Index changes throughout the year, as of February 28, 2026, the market capitalization range of the Russell 2000 Growth Index was between $8.79 million and $43.67 billion. Under normal circumstances, the Russell 2000 Growth Index is reconstituted annually every June. The fund defines mid-sized companies as those that are similar in market capitalization to those in the Russell Midcap Growth Index.
While the market capitalization range of the Russell Midcap Growth Index changes throughout the year, as of February 28, 2026, the market capitalization range of the Russell Midcap Growth Index was between $1.46 billion and $105.26 billion. Under normal circumstances, the Russell Midcap Growth Index is reconstituted annually every June. The fund intends to invest primarily in companies whose market capitalizations fall within the normal range of each index at the time of investment. The fund invests primarily in common stocks but may invest in other types of equity securities such as preferred stocks or convertible securities. While the fund invests mainly in US stocks, it could invest up to 20% of net assets in foreign securities, including emerging markets securities. The fund may invest in initial public offerings.
Due to regulatory changes, effective June 11, 2026, the fund will replace the 80% investment policy and related disclosures set forth in this prospectus. Specifically, effective June 11, 2026, under normal circumstances, the fund invests at least 80% of net assets, plus the amount of any borrowings for investment purposes, in common stocks and other equity securities of small and mid-sized US growth companies. For purposes of the 80% investment policy, growth companies and small and mid-sized companies are those companies included in the Russell 2500 Growth Index. While the market capitalization range of the Russell 2500 Growth Index changes throughout the year, as of February 28, 2026, the market capitalization range of the Russell 2500 Growth Index was between $8.79 million and $50.28 billion.
Management process. In choosing stocks, portfolio management focuses on individual security selection rather than industry selection. Portfolio management uses an active process that combines financial analysis with company visits to evaluate management and strategies. Company research is significant to the investment process. Portfolio management uses a bottom-up approach to picking securities, focusing on stocks that it believes have superior growth prospects and above average intermediate to long-term performance potential. Portfolio management emphasizes individual selection of small and mid-sized company stocks across all economic sectors, early in their growth cycles and which portfolio management believes to have the potential to be the blue chips of the future. Portfolio management generally seeks companies it believes have a leading or dominant position in their niche markets, a high rate of return on invested capital and the ability to finance a major part of future growth from internal sources.
Portfolio management also looks for estimated above-average growth in revenues and earnings and a balance sheet that portfolio management believes can support this growth potential with sufficient working capital and manageable levels of debt. Portfolio management follows a disciplined selling process that seeks to lessen risk. Portfolio management will normally sell a stock when its price reaches portfolio management's expectations, portfolio management believes there is a material change in the company's fundamentals, other investments offer better opportunities or in an effort to readjust the weighted average market capitalization of the fund. Portfolio management generally considers environmental, social and governance (ESG) factors that it believes to be financially material. Given the nature of small cap companies more limited resources, portfolio management typically considers an issuers corporate governance, including governance structure and practices, management incentives, and alignment with shareholders interests in corporate decision making, to be of particular importance in evaluating the long-term prospects of such issuer, but may consider any other ESG factors that could also present risks or opportunities.
Because small cap companies tend to be relatively early on in their operating histories, external rating companies may be unable to find ESG data for such companies. Securities lending. The fund may lend securities (up to one-third of total assets) to approved institutions, such as registered broker-dealers, pooled investment vehicles, banks and other financial institutions. In connection with such loans, the fund receives liquid collateral in an amount that is based on the type and value of the securities being lent, with riskier securities generally requiring higher levels of collateral.
C000017214 Holdings
Top 10 holdings of DWS Small Mid Cap Growth VIP by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Advanced Energy Industries Inc | 3.23% |
| Rush Enterprises Inc | 2.73% |
| SiTime Corp | 2.58% |
| RadNet Inc | 2.43% |
| Ultra Clean Holdings Inc | 2.27% |
| FormFactor Inc | 2.24% |
| Neurocrine Biosciences Inc | 2.19% |
| Semtech Corp | 1.97% |
| Casey's General Stores Inc | 1.85% |
| TopBuild Corp | 1.74% |
C000017214 Portfolio Allocation
Asset-class allocation of DWS Small Mid Cap Growth VIP by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Equity | 99.1% |
| Cash & Equivalents | 2.1% |
C000017214 Performance
Total returns for C000017214 (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| YTD | 19.2% |
| 1 year | 30.1% |
| 3 years (annualised) | 13.1% |
| 5 years (annualised) | 3.8% |
C000017214 Risk Information
Risk metrics for C000017214, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 16.0%
C000017214 Costs and Fees
C000017214 costs about $85 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.85%
- Gross expense ratio: 0.85%
- Portfolio turnover: 11%
- Brokerage commissions: 1.35 bps of average net assets (SEC N-CEN)
C000017214 Cashflows
Over the 12 months to 2026-06, DWS Small Mid Cap Growth VIP had net outflows of $2.03M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-06 | −$318.59K |
| 2026-05 | −$675.77K |
| 2026-04 | $3.11M |
| 2026-03 | −$468.69K |
| 2026-02 | −$535.27K |
| 2026-01 | −$178.75K |
C000017214 Debt Constituents
No individual debt constituents are reported in DWS Small Mid Cap Growth VIP's latest SEC N-PORT filing.
C000017214 Prospectus and SEC Filings
Official DWS Small Mid Cap Growth VIP filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2026-04-24
- Prospectus (485BPOS) — filed 2025-04-24
- Prospectus (485BPOS) — filed 2024-04-24
- Portfolio holdings (N-PORT) — filed 2026-08-27
- Portfolio holdings (N-PORT) — filed 2026-05-28
- Portfolio holdings (N-PORT) — filed 2026-02-26
- Annual census (N-CEN) — filed 2026-03-11
- Annual census (N-CEN) — filed 2025-03-03
Related Funds
Other United States Mid Cap Growth Equity funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.