XML 210 R18.htm IDEA: XBRL DOCUMENT v3.25.1
Label Element Value
Risk Return Abstract rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName JOHN HANCOCK VARIABLE INSURANCE TRUST
Prospectus Date rr_ProspectusDate Apr. 28, 2025
Fundamental Large Cap Value Trust  
Risk Return Abstract rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading <span style="color:#000000;font-family:Arial Narrow;font-size:24pt;">Fundamental Large Cap Value Trust</span>
Objective [Heading] rr_ObjectiveHeading <span style="color:#000000;font-family:Arial Narrow;font-size:10pt;font-weight:bold;">Investment objective</span>
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock To seek long-term capital appreciation.
Expense [Heading] rr_ExpenseHeading <span style="color:#000000;font-family:Arial Narrow;font-size:10pt;font-weight:bold;">Fees and expenses</span>
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock This table describes the fees and expenses that you may pay if you buy, hold, and sell shares of the fund. The fees and expenses do not reflect fees and expenses of any variable insurance or variable annuities contract that may use the fund as its underlying investment option and would be higher if they did.
Operating Expenses Caption [Text] rr_OperatingExpensesCaption <span style="font-family:Arial Narrow;font-size:8pt;font-weight:bold;margin-left:0.0pt;">Annual fund operating expenses (%) </span><span style="font-family:Arial Narrow;font-size:8pt;margin-left:0.0pt;">(expenses that you pay each year as a percentage of the value of your investment)</span>
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination <span style="font-family:Arial Narrow;font-size:8pt;">July 31, 2026</span>
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading <span style="color:#000000;font-family:Arial Narrow;font-size:10pt;font-weight:bold;">Portfolio turnover</span>
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock The fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs. These costs, which are not reflected in annual fund operating expenses or in the example, affect the fund’s performance. During its most recent fiscal year, the fund’s portfolio turnover rate was 16% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 16.00%
Expense Example [Heading] rr_ExpenseExampleHeading <span style="color:#000000;font-family:Arial Narrow;font-size:10pt;font-weight:bold;">Expense example</span>
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock The examples are intended to help you compare the cost of investing in the fund with the cost of investing in other mutual funds. The examples assume that $10,000 is invested in the fund for the periods indicated and then all shares are redeemed at the end of those periods. The examples also assume that the investment has a 5% return each year and that the fund’s operating expenses remain the same. The expense example does not reflect fees and expenses of any variable insurance contract that may use the fund as its underlying investment option and would be higher if they did. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Strategy [Heading] rr_StrategyHeading <span style="color:#000000;font-family:Arial Narrow;font-size:10pt;font-weight:bold;">Principal investment strategies</span>
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock Under normal market conditions, the fund invests at least 80% of its net assets in equity securities of large-capitalization companies. The fund considers large-capitalization companies to be those that at the time of purchase have a market capitalization equal to or greater than that of the top 80% of the companies that comprise the Russell 1000 Index. As of February 28, 2025, the lowest market capitalization in this group was $6.6 billion. Equity securities include common, convertible, and preferred securities and their equivalents. In managing the fund, the subadvisor looks for companies that are highly differentiated with key growth drivers, sustainable cash flow production, and high returns on capital. The subadvisor seeks to identify companies with sustainable competitive advantages and high barriers to entry, strong management and a focus on creating value for fund shareholders. Value opportunities are evaluated with an approach that uses the present value of estimated future cash flows as the core methodology for measuring intrinsic value. The subadvisor employs a disciplined fundamental research process which produces bottom-up company assessments using key assumptions that drive sales, margins, and asset intensity. Scenario analysis is designed to provide a meaningful range of outcomes and the ability to assess investors’ embedded expectations. The subadvisor seeks to purchase companies that meet the criteria above when the shares are selling at a significant discount to intrinsic value. Sell decisions are similarly driven by long term fundamental analysis. The subadvisor constantly reviews portfolio investments and may sell a holding when it has achieved its valuation target, if it believes there is structural or permanent deterioration in the underlying fundamentals of the business, or if it identifies what it believes is a more attractive investment opportunity. The fund may focus its investments in a particular sector or sectors of the economy. The fund may invest up to 20% of its net assets in equity securities of foreign issuers, including American Depositary Receipts (ADRs) and similar investments. For purposes of reducing risk and/or obtaining efficient investment exposure, the fund may invest in exchange-traded funds (ETFs) and derivative instruments that include options, futures contracts, and swaps. The fund may also invest in U.S. government securities and other short-term securities such as money market instruments and repurchase agreements. The manager considers environmental, social, and/or governance (ESG) factors, alongside other relevant factors, as part of its investment process. ESG factors may include, but are not limited to, matters regarding board diversity, climate change policies, and supply chain and human rights policies. The ESG characteristics utilized in the fund’s investment process may change over time and one or more characteristics may not be relevant with respect to all issuers that are eligible fund investments. Because ESG factors are considered alongside other relevant factors, the manager may determine that an investment is appropriate notwithstanding its relative ESG characteristics.
Risk [Heading] rr_RiskHeading <span style="color:#000000;font-family:Arial Narrow;font-size:10pt;font-weight:bold;">Principal risks</span>
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading <span style="color:#000000;font-family:Arial Narrow;font-size:10pt;font-weight:bold;">Past performance</span>
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock The following information illustrates the variability of the fund’s returns and provides some indication of the risks of investing in the fund by showing changes in the fund’s performance from year to year and by showing how the fund’s average annual returns compared with a broad-based securities market index.Past performance does not indicate future results. The Russell 1000 Value Index shows how the fund’s performance compares against the returns of similar investments. All figures assume dividend reinvestment. The performance information below does not reflect fees and expenses of any variable insurance contract which may use JHVIT as its underlying investment option. If such fees and expenses had been reflected, performance would be lower.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns <span style="font-family:Arial Narrow;font-size:9pt;">The following information illustrates the variability of the fund’s returns and provides some indication of the risks of investing in the fund by showing changes in the fund’s performance from year to year and by showing how the fund’s average annual returns compared with a broad-based securities market index.</span>
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture <span style="font-family:Arial Narrow;font-size:9pt;">Past performance does not indicate future results.</span>
Bar Chart [Heading] rr_BarChartHeading <span style="font-family:Arial Narrow;font-size:9pt;font-weight:bold;">Calendar year total returns (%)—Series I</span>
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock Best quarter:Q2 202019.70%Worst quarter:Q1 2020-24.95%
Performance Table Heading rr_PerformanceTableHeading <span style="font-family:Arial Narrow;font-size:8pt;font-weight:bold;margin-left:0.0pt;">Average annual total returns (%)—as of 12/31/2024</span>
Performance Table Market Index Changed rr_PerformanceTableMarketIndexChanged <span style="font-family:Arial Narrow;font-size:8pt;">The fund has designated the Russell 1000 Index as its new broad-based securities market index in accordance with the revised definition for such an index.</span>
Fundamental Large Cap Value Trust | Risk Lose Money [Member]  
Risk Return Abstract rr_RiskReturnAbstract  
Risk [Text Block] rr_RiskTextBlock Many factors affect performance, and fund shares will fluctuate in price, meaning you could lose money.
Fundamental Large Cap Value Trust | Risk Not Insured Depository Institution [Member]  
Risk Return Abstract rr_RiskReturnAbstract  
Risk [Text Block] rr_RiskTextBlock An investment in the fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.
Fundamental Large Cap Value Trust | Cash And Cash Equivalents Risk [Member]  
Risk Return Abstract rr_RiskReturnAbstract  
Risk [Text Block] rr_RiskTextBlock Cash and cash equivalents risk.  Under certain market conditions, such as during a rising stock market, rising interest rate or rising credit spread markets, the use of cash and/or cash equivalents, including money market instruments, could have a negative effect on the fund’s ability to achieve its investment objective and may negatively impact the fund’s performance.
Fundamental Large Cap Value Trust | Credit And Counterparty Risk [Member]  
Risk Return Abstract rr_RiskReturnAbstract  
Risk [Text Block] rr_RiskTextBlock Credit and counterparty risk.  The issuer or guarantor of a fixed-income security, the counterparty to an over-the-counter derivatives contract, or a borrower of fund securities may not make timely payments or otherwise honor its obligations. U.S. government securities are subject to varying degrees of credit risk depending upon the nature of their support. A downgrade or default affecting any of the fund’s securities could affect the fund’s performance.
Fundamental Large Cap Value Trust | Economic And Market Events Risk [Member]  
Risk Return Abstract rr_RiskReturnAbstract  
Risk [Text Block] rr_RiskTextBlock Economic and market events risk.  Events in the U.S. and global financial markets, including actions taken by the U.S. Federal Reserve or foreign central banks to stimulate or stabilize economic growth, may at times result in unusually high market volatility, which could negatively impact performance. Reduced liquidity in credit and fixed-income markets could adversely affect issuers worldwide. Banks and financial services companies could suffer losses if interest rates rise or economic conditions deteriorate.
Fundamental Large Cap Value Trust | Equity Securities Risk [Member]  
Risk Return Abstract rr_RiskReturnAbstract  
Risk [Text Block] rr_RiskTextBlock Equity securities risk.  The price of equity securities may decline due to changes in a company’s financial condition or overall market conditions. Growth company securities may fluctuate more in price than other securities because of the greater emphasis on earnings expectations. Securities the manager believes are undervalued may never realize their full potential value, and in certain markets value stocks may underperform the market as a whole.
Fundamental Large Cap Value Trust | ESG Integration Risk [Member]  
Risk Return Abstract rr_RiskReturnAbstract  
Risk [Text Block] rr_RiskTextBlock ESG integration risk.  The manager considers ESG factors that it deems relevant or additive, along with other material factors and analysis, when managing the fund. ESG factors may include, but are not limited to, matters regarding board diversity, climate change policies, and supply chain and human rights policies. The manager may consider these ESG factors on all or a meaningful portion of the fund’s investments. Incorporating ESG criteria and making investment decisions based on certain ESG characteristics, as determined by the manager, carries the risk that the fund may perform differently, including underperforming, funds that do not utilize ESG criteria, or funds that utilize different ESG criteria.
Fundamental Large Cap Value Trust | Exchange Traded Funds Risk [Member]  
Risk Return Abstract rr_RiskReturnAbstract  
Risk [Text Block] rr_RiskTextBlock Exchange-traded funds (ETFs) risk.  The risks of owning shares of an ETF include the risks of owning the underlying securities the ETF holds. Lack of liquidity in an ETF could result in the ETF being more volatile than its underlying securities. An ETF’s shares could trade at a significant premium or discount to its net asset value (NAV). A fund bears ETF fees and expenses indirectly.
Fundamental Large Cap Value Trust | Financial Services Sector Risk [Member]  
Risk Return Abstract rr_RiskReturnAbstract  
Risk [Text Block] rr_RiskTextBlock Financial services sector risk.  Financial services companies can be significantly affected by economic, market, and business developments, borrowing costs, interest-rate fluctuations, competition, and government regulation, among other factors.
Fundamental Large Cap Value Trust | Fixed Income Securities Risk [Member]  
Risk Return Abstract rr_RiskReturnAbstract  
Risk [Text Block] rr_RiskTextBlock Fixed-income securities risk.  A rise in interest rates typically causes bond prices to fall. The longer the average maturity or duration of the bonds held by a fund, the more sensitive it will likely be to interest-rate fluctuations. An issuer may not make all interest payments or repay all or any of the principal borrowed. Changes in a security’s credit quality may adversely affect fund performance.
Fundamental Large Cap Value Trust | Foreign Securities Risk [Member]  
Risk Return Abstract rr_RiskReturnAbstract  
Risk [Text Block] rr_RiskTextBlock Foreign securities risk.  Less information may be publicly available regarding foreign issuers, including foreign government issuers. Foreign securities may be subject to foreign taxes and may be more volatile than U.S. securities. Currency fluctuations and political and economic developments may adversely impact the value of foreign securities. Depositary receipts are subject to most of the risks associated with investing in foreign securities directly because the value of a depositary receipt is dependent upon the market price of the underlying foreign equity security. Depositary receipts are also subject to liquidity risk.
Fundamental Large Cap Value Trust | Hedging Derivatives And Other Strategic Transactions Risk [Member]  
Risk Return Abstract rr_RiskReturnAbstract  
Risk [Text Block] rr_RiskTextBlock Hedging, derivatives, and other strategic transactions risk.  Hedging, derivatives, and other strategic transactions may increase a fund’s volatility and could produce disproportionate losses, potentially more than the fund’s principal investment. Risks of these transactions are different from and possibly greater than risks of investing directly in securities and other traditional instruments. Under certain market conditions, derivatives could become harder to value or sell and may become subject to liquidity risk (i.e., the inability to enter into closing transactions). Derivatives and other strategic transactions that the fund intends to utilize include: futures contracts, options, and swaps. Futures contracts, options, and swaps generally are subject to counterparty risk. In addition, swaps may be subject to interest-rate and settlement risk, and the risk of default of the underlying reference obligation.
Fundamental Large Cap Value Trust | Large Company Risk [Member]  
Risk Return Abstract rr_RiskReturnAbstract  
Risk [Text Block] rr_RiskTextBlock Large company risk.  Larger companies may grow more slowly than smaller companies or be slower to respond to business developments. Large-capitalization securities may underperform the market as a whole.
Fundamental Large Cap Value Trust | Liquidity Risk [Member]  
Risk Return Abstract rr_RiskReturnAbstract  
Risk [Text Block] rr_RiskTextBlock Liquidity risk.  The extent (if at all) to which a security may be sold or a derivative position closed without negatively impacting its market value may be impaired by reduced market activity or participation, legal restrictions, or other economic and market impediments. Liquidity risk may be magnified in rising interest rate environments due to higher than normal redemption rates. Widespread selling of fixed-income securities to satisfy redemptions during periods of reduced demand may adversely impact the price or salability of such securities. Periods of heavy redemption could cause the fund to sell assets at a loss or depressed value, which could negatively affect performance. Redemption risk is heightened during periods of declining or illiquid markets.
Fundamental Large Cap Value Trust | Operational And Cybersecurity Risk [Member]  
Risk Return Abstract rr_RiskReturnAbstract  
Risk [Text Block] rr_RiskTextBlock Operational and cybersecurity risk.  Cybersecurity breaches may allow an unauthorized party to gain access to fund assets, customer data, or proprietary information, or cause a fund or its service providers to suffer data corruption or lose operational functionality. Similar incidents affecting issuers of a fund’s securities may negatively impact performance. Operational risk may arise from human error, error by third parties, communication errors, or technology failures, among other causes.
Fundamental Large Cap Value Trust | Preferred And Convertible Securities Risk [Member]  
Risk Return Abstract rr_RiskReturnAbstract  
Risk [Text Block] rr_RiskTextBlock Preferred and convertible securities risk.  Preferred stock dividends are payable only if declared by the issuer’s board. Preferred stock may be subject to redemption provisions. The market values of convertible securities tend to fall as interest rates rise and rise as interest rates fall. Convertible preferred stock’s value can depend heavily upon the underlying common stock’s value.
Fundamental Large Cap Value Trust | Repurchase Agreement Risk [Member]  
Risk Return Abstract rr_RiskReturnAbstract  
Risk [Text Block] rr_RiskTextBlock Repurchase agreements risk.  The risk of a repurchase agreement transaction is limited to the ability of the seller to pay the agreed-upon sum on the delivery date. In the event of bankruptcy or other default by the seller, the instrument purchased may decline in value, interest payable on the instrument may be lost and there may be possible difficulties and delays in obtaining collateral and delays and expense in liquidating the instrument.
Fundamental Large Cap Value Trust | Sector Risk [Member]  
Risk Return Abstract rr_RiskReturnAbstract  
Risk [Text Block] rr_RiskTextBlock Sector risk.  When a fund focuses its investments in certain sectors of the economy, its performance may be driven largely by sector performance and could fluctuate more widely than if the fund were invested more evenly across sectors. To the extent that a fund invests in securities of companies in the financial services sector, the fund may be significantly affected by economic, market, and business developments, borrowing costs, interest-rate fluctuations, competition, and government regulation, among other factors, impacting that sector.
Fundamental Large Cap Value Trust | US Government Agency Obligations Risk [Member]  
Risk Return Abstract rr_RiskReturnAbstract  
Risk [Text Block] rr_RiskTextBlock U.S. government agency obligations risk.  U.S. government-sponsored entities such as Federal National Mortgage Association (Fannie Mae), Federal Home Loan Mortgage Corporation (Freddie Mac) and the Federal Home Loan Banks, although chartered or sponsored by Congress, are not funded by congressional appropriations and the debt securities that they issue are neither guaranteed nor issued by the U.S. government. Such debt securities are subject to the risk of default on the payment of interest and/or principal, similar to the debt securities of private issuers. The maximum potential liability of the issuers of some U.S. government obligations may greatly exceed their current resources, including any legal right to support from the U.S. government. Although the U.S. government has provided financial support to Fannie Mae and Freddie Mac in the past, there can be no assurance that it will support these or other government-sponsored entities in the future.
Fundamental Large Cap Value Trust | Value Investment Style Risk [Member]  
Risk Return Abstract rr_RiskReturnAbstract  
Risk [Text Block] rr_RiskTextBlock Value investment style risk.  Value securities may underperform the market as a whole, which may cause value-oriented funds to underperform equity funds with other investment strategies. Securities the manager believes are undervalued may never perform as expected.
Fundamental Large Cap Value Trust | Series I  
Risk Return Abstract rr_RiskReturnAbstract  
Management fee rr_ManagementFeesOverAssets 0.68%
Distribution and service (Rule 12b-1) fees rr_DistributionAndService12b1FeesOverAssets 0.05%
Other expenses rr_OtherExpensesOverAssets 0.05%
Total annual fund operating expenses rr_ExpensesOverAssets 0.78%
Contractual expense reimbursement rr_FeeWaiverOrReimbursementOverAssets (0.01%) [1]
Total annual fund operating expenses after expense reimbursements rr_NetExpensesOverAssets 0.77%
1 year rr_ExpenseExampleYear01 $ 79
3 years rr_ExpenseExampleYear03 248
5 years rr_ExpenseExampleYear05 432
10 years rr_ExpenseExampleYear10 $ 965
2015 rr_AnnualReturn2015 (1.11%)
2016 rr_AnnualReturn2016 10.17%
2017 rr_AnnualReturn2017 17.43%
2018 rr_AnnualReturn2018 (17.03%)
2019 rr_AnnualReturn2019 35.85%
2020 rr_AnnualReturn2020 11.96%
2021 rr_AnnualReturn2021 29.96%
2022 rr_AnnualReturn2022 (7.95%)
2023 rr_AnnualReturn2023 23.45%
2024 rr_AnnualReturn2024 16.98%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel <span style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-weight:bold;margin-left:0.0pt;">Best quarter:</span>
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Jun. 30, 2020
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 19.70%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel <span style="color:#000000;font-family:Arial Narrow;font-size:8pt;font-weight:bold;margin-left:0.0pt;">Worst quarter:</span>
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Mar. 31, 2020
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (24.95%)
1 year rr_AverageAnnualReturnYear01 16.98%
5 year rr_AverageAnnualReturnYear05 14.10%
10 year rr_AverageAnnualReturnYear10 10.80%
Fundamental Large Cap Value Trust | Series II  
Risk Return Abstract rr_RiskReturnAbstract  
Management fee rr_ManagementFeesOverAssets 0.68%
Distribution and service (Rule 12b-1) fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Other expenses rr_OtherExpensesOverAssets 0.05%
Total annual fund operating expenses rr_ExpensesOverAssets 0.98%
Contractual expense reimbursement rr_FeeWaiverOrReimbursementOverAssets (0.01%) [1]
Total annual fund operating expenses after expense reimbursements rr_NetExpensesOverAssets 0.97%
1 year rr_ExpenseExampleYear01 $ 99
3 years rr_ExpenseExampleYear03 311
5 years rr_ExpenseExampleYear05 541
10 years rr_ExpenseExampleYear10 $ 1,200
1 year rr_AverageAnnualReturnYear01 16.74%
5 year rr_AverageAnnualReturnYear05 13.88%
10 year rr_AverageAnnualReturnYear10 10.58%
Fundamental Large Cap Value Trust | NAV  
Risk Return Abstract rr_RiskReturnAbstract  
Management fee rr_ManagementFeesOverAssets 0.68%
Distribution and service (Rule 12b-1) fees rr_DistributionAndService12b1FeesOverAssets none
Other expenses rr_OtherExpensesOverAssets 0.05%
Total annual fund operating expenses rr_ExpensesOverAssets 0.73%
Contractual expense reimbursement rr_FeeWaiverOrReimbursementOverAssets (0.01%) [1]
Total annual fund operating expenses after expense reimbursements rr_NetExpensesOverAssets 0.72%
1 year rr_ExpenseExampleYear01 $ 74
3 years rr_ExpenseExampleYear03 232
5 years rr_ExpenseExampleYear05 405
10 years rr_ExpenseExampleYear10 $ 906
1 year rr_AverageAnnualReturnYear01 17.02%
5 year rr_AverageAnnualReturnYear05 14.16%
10 year rr_AverageAnnualReturnYear10 10.86%
Fundamental Large Cap Value Trust | Russell 1000 Index (reflects no deduction for fees, expenses, or taxes)  
Risk Return Abstract rr_RiskReturnAbstract  
1 year rr_AverageAnnualReturnYear01 24.51% [2]
5 year rr_AverageAnnualReturnYear05 14.28% [2]
10 year rr_AverageAnnualReturnYear10 12.87% [2]
Fundamental Large Cap Value Trust | Russell 1000 Value Index (reflects no deduction for fees, expenses, or taxes)  
Risk Return Abstract rr_RiskReturnAbstract  
1 year rr_AverageAnnualReturnYear01 14.37%
5 year rr_AverageAnnualReturnYear05 8.68%
10 year rr_AverageAnnualReturnYear10 8.49%
[1] The advisor contractually agrees to waive a portion of its management fee and/or reimburse expenses for the fund and certain other John Hancock funds according to an asset level breakpoint schedule that is based on the aggregate net assets of all the funds participating in the waiver or reimbursement, including the fund (the participating portfolios). This waiver equals, on an annualized basis, 0.0100% of that portion of the aggregate net assets of all the participating portfolios that exceeds $75 billion but is less than or equal to $125 billion; 0.0125% of that portion of the aggregate net assets of all the participating portfolios that exceeds $125 billion but is less than or equal to $150 billion; 0.0150% of that portion of the aggregate net assets of all the participating portfolios that exceeds $150 billion but is less than or equal to $175 billion; 0.0175% of that portion of the aggregate net assets of all the participating portfolios that exceeds $175 billion but is less than or equal to $200 billion; 0.0200% of that portion of the aggregate net assets of all the participating portfolios that exceeds $200 billion but is less than or equal to $225 billion; and 0.0225% of that portion of the aggregate net assets of all the participating portfolios that exceeds $225 billion. The amount of the reimbursement is calculated daily and allocated among all the participating portfolios in proportion to the daily net assets of each participating portfolio. During its most recent fiscal year, the fund’s reimbursement amounted to 0.01% of the fund’s average daily net assets. This agreement expires on July 31, 2026, unless renewed by mutual agreement of the fund and the advisor based upon a determination that this is appropriate under the circumstances at that time.
[2] The fund has designated the Russell 1000 Index as its new broad-based securities market index in accordance with the revised definition for such an index.