NVIT JPMorgan MozaicSM Multi-Asset Fund
Data updated: 2024-05-20
C000210770 — NVIT JPMorgan MozaicSM Multi-Asset Fund. Total Return Allocation · $38.75M AUM. Holdings, fees, performance and SEC filings.
C000210770 Fund Overview
NVIT JPMorgan MozaicSM Multi-Asset Fund is a US mutual fund managed by Nationwide Variable Insurance Trust, categorised as Total Return Allocation. 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: Total Return Allocation
- Assets under management: $38.75M
- 1-year return: 11.2%
- SEC CIK: 0000353905
- SEC series ID: S000065086
- Share class ID: C000210770
C000210770 Investment Objective and Strategy
NVIT JPMorgan MozaicSM Multi-Asset 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 J.P. Morgan Mozaic SM Multi-Asset Fund (the Fund) seeks a high level of total return.
Principal investment strategy
In seeking a high level of total return, the Fund seeks to track the performance of the J.P. Morgan Mozaic SM Index (Series F) (the Index) before the deduction of Fund expenses. The Index is designed to provide exposure to a global mix of asset classes including equity securities, fixed-income securities (i.e., bonds) and commodities through futures contracts on those asset classes. Equity securities include large-capitalization and small-capitalization companies listed on U.S. and foreign stock exchanges. Fixed-income securities include U.S. Treasury bonds and U.K., German and Australian sovereign bonds. Commodities are assets that have tangible properties, such as energy, industrial metals and precious metals. The Index was developed in 2018 and is sponsored by J.P. Morgan Securities plc (JPMS plc).
As the Indexs sponsor and calculation agent, JPMS plc maintains and calculates the Index, which allocates asset exposures based on a momentum investment strategy, i.e., the hypothesis that asset classes with attractive recent relative returns are more likely to continue to deliver relatively favorable performance. Each month, the Index rebalances pursuant to a set of pre-determined rules in an effort to capture the continued performance of asset classes that have exhibited the highest recent returns. The Index is a rules-based, notional dynamic index that tracks the total return of a basket of typically nine asset classes (referred to as Basket Constituents) selected from a possible universe of fifteen Basket Constituents consisting of: six rolling futures positions in U.S., U.K., German or Japanese equity index futures contracts (each, an Equity Constituent); six rolling futures positions in U.S., U.K., German or Australian government bond futures contracts (each, a Bond Constituent) and three excess return commodity sector indices representing energy, industrial metals and precious metals (each, a Commodity Constituent).
At any given time, the Index will typically include at least two Equity Constituents and two Bond Constituents. Subject to the foregoing, every month the Index identifies the nine Basket Constituents with the highest recent performance based on the preceding twelve months. The Index next assigns a weight to each Basket Constituent selected based on such Basket Constituents actual recent volatility as compared to a target volatility rate assigned by the Index. Compared to an equally-weighted index, the weight of a Basket Constituent whose recent actual volatility has exceeded the target volatility rate generally will be lower, whereas the weight of a Basket Constituent whose recent actual volatility was less than the target volatility generally will be higher, generally subject to a maximum individual weighting of 60%, and a maximum total weight of all Basket Constituents of 190%.
The composition of the Index is then implemented at the beginning of the following calendar month over a five-day rebalancing period that is determined separately for each Basket Constituent. The Index may provide exposure to more or less than nine Basket Constituents while it is being rebalanced each month. The actual weights in the Index of the Basket Constituents will fluctuate during the month, and at times will exceed the maximum individual weight and maximum total weight. In the event that the value of the Index overall declines by more than a pre-determined amount within a one-week period, the Index will attempt to reduce its exposure to each Basket Constituent by progressively decreasing each Basket Constituents exposure to potentially as low as 0% (i.e., exposure flattening). On the fifth weekday after such exposure flattening has been triggered, the Index will restore the exposure of each Basket Constituent by progressively increasing its exposure until it has been fully restored, subject to the triggering of any further exposure flattening.
In order to track the performance of the Index before the deduction of Fund expenses, the Fund primarily uses futures contracts, which are derivatives, related to various securities and commodity indexes. The Fund also invests in fixed-income securities or cash equivalents (or investment companies 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 or to better track the performance of the Index. The Fund generally uses a replication strategy to track the performance of the Index, meaning the Fund typically invests in all of the component futures contracts in the Index and in approximately the same proportions as in the Index. Notwithstanding the foregoing, in managing the Fund the subadviser may deviate from the individual and total Basket Constituent weightings to the extent it deems necessary to reduce tracking error and more effectively match the performance of the Index.
In pursuit of its strategy, the Fund uses leverage to achieve a total weight of generally less than a total amount of 200% of the Funds net assets. As a result, the Fund will at times have an investment exposure substantially greater than its net assets, which may result in increased volatility in the Funds portfolio and greater losses than if the Fund did not use leverage. Additionally, the Fund may use a representative sampling strategy, meaning it may invest in a sample of the futures contracts in the Index whose risk, return and other characteristics closely resemble the risk, return and other characteristics of the Index as a whole. The Fund may have significant investments in particular countries or sectors. The Fund may also invest in securities, futures contracts or other investments not included in the Index, but which the Funds subadviser believes will help the Fund track the Index.
In order to gain exposure to commodity markets, the Fund may invest up to 25% of its total assets in the NW Securities Fund (the Subsidiary), a wholly owned subsidiary of the Fund formed in the Cayman Islands, which invests primarily in commodity-related instruments, such as futures contracts. The Subsidiary also may buy short-term fixed-income securities or hold cash to serve as margin or collateral for the Subsidiarys derivatives positions. The Subsidiary (unlike the Fund) may invest without limitation in commodity-related instruments.
C000210770 Holdings
Top 7 holdings of NVIT JPMorgan MozaicSM Multi-Asset Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| International Finance Corp. | 4.07% |
| Asian Infrastructure Investment Bank (The) | 3.89% |
| Inter-American Development Bank | 3.78% |
| Nederlandse Waterschapsbank NV | 3.77% |
| Bank of England Euro Note | 3.76% |
| Harvest Operations Corp. | 3.74% |
| New Development Bank (The) | 3.69% |
C000210770 Portfolio Allocation
Asset-class allocation of NVIT JPMorgan MozaicSM Multi-Asset Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Fixed Income | 26.7% |
| Real Estate | 1.6% |
| Derivatives | 1.2% |
C000210770 Performance
Total returns for C000210770 (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | 11.2% |
| 3 years (annualised) | 1.6% |
C000210770 Risk Information
Risk metrics for C000210770, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 7.6%
C000210770 Costs and Fees
C000210770 costs about $43 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.43%
- Gross expense ratio: 1.02%
- Portfolio turnover: 91%
- Brokerage commissions: 2.99 bps of average net assets (SEC N-CEN)
C000210770 Cashflows
Over the 12 months to 2024-03, NVIT JPMorgan MozaicSM Multi-Asset Fund had net outflows of $210.38K, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2024-03 | −$114.60K |
| 2024-02 | −$175.32K |
| 2024-01 | $261.10K |
| 2023-12 | −$10.49K |
| 2023-11 | −$285.62K |
| 2023-10 | −$470.15K |
C000210770 Debt Constituents
Largest debt holdings of NVIT JPMorgan MozaicSM Multi-Asset Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Debt holding | % of net assets |
|---|---|
| International Finance Corp. | 4.07% |
| Asian Infrastructure Investment Bank (The) | 3.89% |
| Inter-American Development Bank | 3.78% |
| Nederlandse Waterschapsbank NV | 3.77% |
| Bank of England Euro Note | 3.76% |
| Harvest Operations Corp. | 3.74% |
| New Development Bank (The) | 3.69% |
C000210770 Prospectus and SEC Filings
Official NVIT JPMorgan MozaicSM Multi-Asset Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2023-04-19
- Prospectus (485BPOS) — filed 2022-04-19
- Prospectus (485BPOS) — filed 2021-04-15
- Portfolio holdings (N-PORT) — filed 2024-05-20
- Portfolio holdings (N-PORT) — filed 2024-02-20
- Portfolio holdings (N-PORT) — filed 2023-11-14
- Annual census (N-CEN) — filed 2024-02-29
- Annual census (N-CEN) — filed 2023-03-10
Related Funds
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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.