NVIT Managed American Funds Growth-Income Fund
Data updated: 2026-08-26
C000138647 — NVIT Managed American Funds Growth-Income Fund. Alternative · $701.68M AUM · 1.00% expense ratio. Holdings, fees, performance and SEC filings.
C000138647 Fund Overview
NVIT Managed American Funds Growth-Income Fund is a US mutual fund managed by Nationwide Variable Insurance Trust, categorised as Alternative. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Nationwide Variable Insurance Trust
- Category: Alternative
- Assets under management: $701.68M
- 1-year return: 18.9%
- SEC CIK: 0000353905
- SEC series ID: S000044582
- Share class ID: C000138647
C000138647 Investment Objective and Strategy
NVIT Managed American Funds Growth-Income Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Nationwide Variable Insurance Trust.
Investment objective
The NVIT Managed American Funds Growth-Income Fund (Growth-Income Fund or the Fund) seeks to achieve long-term growth of capital and income.
Principal investment strategy
The Fund consists of two main components. First, a majority of its portfolio, referred to herein as the Core Sleeve, operates as a fund-of-funds that invests in the Growth-Income Fund, a series of American Funds Insurance Series (the Underlying Fund). The Underlying Fund is designed for investors seeking both capital appreciation and income. The remainder of the Fund, referred to herein as the Volatility Overlay, invests in short-term fixed-income securities (or mutual funds that themselves invest in such securities) or is held in cash. In an attempt to manage the volatility of the Funds portfolio over a full market cycle, the Fund buys and sells stock index futures, which are derivatives. The Funds short-term fixed-income securities and cash may be used to meet margin requirements and other obligations on the Funds derivative positions.
The combination of the Core Sleeve and the Volatility Overlay is intended to result in a single Fund that is designed to offer exposure to equity investments blended with a strategy that seeks to mitigate risk and manage the Funds volatility over a full market cycle. The Volatility Overlay may not be successful in reducing volatility, in particular, frequent or short-term volatility with little or no sustained market direction, and it is possible that the Volatility Overlay may result in underperformance or losses greater than if the Fund did not implement the Volatility Overlay. The level of volatility of the Funds portfolio reflects the degree to which the value of the Funds portfolio may be expected to rise or fall within a period of time. A high level of volatility means that the Funds value may be expected to increase or decrease significantly over a period of time.
A lower level of volatility means that the Funds value is not expected to fluctuate so significantly. The Fund is intended to be used primarily in connection with guaranteed benefits available through variable annuity contracts issued by Nationwide Life Insurance Company and Nationwide Life and Annuity Insurance Company (collectively, Nationwide Life), and is designed to help reduce a contract owners exposure to equity investments when equity markets are more volatile. The purpose of the Volatility Overlay is to minimize the costs and risks to Nationwide Life of supporting these guaranteed benefits. Although the reduction of equity exposure during periods of higher volatility is designed to decrease the risk of loss to your investment, it may prevent you from achieving higher investment returns.
Further, the Funds use of leverage in its strategies may cause the Funds performance to be more volatile than if the Fund had not been leveraged. The Underlying Fund invests primarily in common stocks or other equity-type securities, such as preferred stocks, convertible preferred stocks and convertible bonds, that the Underlying Funds investment adviser believes demonstrate the potential for appreciation and/or dividends. Although the Underlying Fund focuses on investments in medium- to larger-capitalization companies, the Underlying Funds investments are not limited to a particular capitalization size. The Underlying Fund may invest up to 15% of its net assets, at the time of purchase, in securities of issuers domiciled outside the United States, including, to a more limited extent, in emerging markets.
The Underlying Fund may have significant investments in particular sectors. The Underlying Funds investment adviser uses a system of multiple portfolio counselors in managing the Underlying Funds assets. Under this approach, the portfolio of the Underlying Fund is divided into segments managed by individual counselors who decide how their respective segments will be invested. The Underlying Fund relies on the professional judgment of its investment adviser to make decisions about the Underlying Funds portfolio investments. The basic investment philosophy of the Underlying Funds investment adviser is to seek to invest in attractively valued companies that, in its opinion, represent good, long-term investment opportunities. The Underlying Funds investment adviser believes that an important way to accomplish this is through fundamental analysis, which may include meeting with company executives and employees, suppliers, customers and competitors.
Securities may be sold when the Underlying Funds investment adviser believes that they no longer represent relatively attractive investment opportunities. Although the amount of the Funds assets allocated to the Core Sleeve was approximately 95% as of December 31, 2025, this amount may fluctuate within a general range of 90%-100% of the Funds overall portfolio. Similarly, the amount of the Funds assets allocated to the Volatility Overlay may fluctuate within a general range of 0%-10% in inverse correlation with the Core Sleeve, although this amount was approximately 5% as of December 31, 2025. The Funds investment adviser generally buys or sells shares of the Underlying Fund in order to meet or change the target allocation between the Core Sleeve and the Volatility Overlay or in response to shareholder redemption activity.
The terms Growth and Income in the Funds name do not refer to types of securities in which the Fund invests, but rather describe the Funds investment objective of seeking to achieve long-term growth of capital and income. The Volatility Overlay is designed to manage the volatility of the Funds portfolio over a full market cycle by using stock index futures to hedge against stock market risks and/or to increase or decrease the Funds overall exposure to equity markets. The Volatility Overlay also invests in short-term fixed-income securities (or mutual funds that themselves invest in such securities) or holds cash that may be used to meet margin requirements and other obligations of the Funds futures positions and/or to reduce the Funds overall equity exposure. When volatility is high or stock market values are falling, the Volatility Overlay will typically seek to decrease the Funds equity exposure by holding fewer stock index futures or by taking short positions in stock index futures.
When volatility is low or stock market values are rising, the Volatility Overlay may use stock index futures with the intention of maximizing stock market gains. These strategies may expose the Fund to leverage. Therefore, even though the Core Sleeve typically has over 90% of its assets exposed to equity investments, the Volatility Overlay will be used to increase or decrease the Funds overall equity exposure within general range of 0% - 100%, depending on market conditions. Nationwide Fund Advisors (NFA) is the investment adviser to the Fund and is also responsible for managing the Core Sleeves investment in the Underlying Fund. Nationwide Asset Management, LLC, the Funds subadviser, is responsible for managing the Volatility Overlay. Although the Fund seeks to provide diversification across equity securities, the Fund invests a significant portion of its assets in a small number of issuers (i.e., one or more Underlying Funds).
However, the Underlying Funds in which the Fund invests are diversified.
C000138647 Holdings
Top 1 holdings of NVIT Managed American Funds Growth-Income Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| American Funds Growth-Income Fund | 96.29% |
C000138647 Portfolio Allocation
Asset-class allocation of NVIT Managed American Funds Growth-Income Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Other | 96.3% |
C000138647 Performance
Total returns for C000138647 (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| YTD | 9.0% |
| 1 year | 18.9% |
| 3 years (annualised) | 17.0% |
| 5 years (annualised) | 10.8% |
C000138647 Risk Information
Risk metrics for C000138647, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 12.3%
C000138647 Costs and Fees
C000138647 costs about $100 per $10,000 invested per year in fund expenses.
- Net expense ratio: 1.00%
- Portfolio turnover: 22%
- Brokerage commissions: 0.19 bps of average net assets (SEC N-CEN)
C000138647 Cashflows
Over the 12 months to 2026-06, NVIT Managed American Funds Growth-Income Fund had net outflows of $125.67M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-06 | −$15.48M |
| 2026-05 | −$12.19M |
| 2026-04 | −$10.28M |
| 2026-03 | −$11.10M |
| 2026-02 | −$8.96M |
| 2026-01 | −$14.09M |
C000138647 Debt Constituents
No individual debt constituents are reported in NVIT Managed American Funds Growth-Income Fund's latest SEC N-PORT filing.
C000138647 Prospectus and SEC Filings
Official NVIT Managed American Funds Growth-Income Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2026-04-16
- Prospectus (485BPOS) — filed 2025-04-17
- Prospectus (485BPOS) — filed 2024-04-18
- Portfolio holdings (N-PORT) — filed 2026-08-26
- Portfolio holdings (N-PORT) — filed 2026-05-18
- Portfolio holdings (N-PORT) — filed 2026-02-23
- Annual census (N-CEN) — filed 2026-03-09
- Annual census (N-CEN) — filed 2025-03-05
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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.