XML 234 R42.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
Small Cap Core Trust  
Risk Return Abstract rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading <span style="font-family:Arial Narrow;font-size:24pt;">Small Cap Core Trust</span>
Objective [Heading] rr_ObjectiveHeading <span style="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="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="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 53% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 53.00%
Expenses Restated to Reflect Current [Text] rr_ExpensesRestatedToReflectCurrent <span style="font-family:Arial Narrow;font-size:8pt;">“Management fee” has been restated to reflect the contractual management fee schedule effective April 25, 2025.</span>
Expense Example [Heading] rr_ExpenseExampleHeading <span style="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="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 (plus any borrowings for investment purposes) in equity securities of small-capitalization companies. (The Board of Trustees can change the fund’s investment objective and strategies without shareholder approval. The fund will provide written notice to shareholders at least 60 days prior to a change in its 80% investment policy.) The fund considers small-capitalization companies to be those companies that, at the time of investment, are in the capitalization range of the Russell 2000 Index, which had a maximum market capitalization of $14.3 billion as of February 28, 2025. The fund generally will not invest in companies that, at the time of purchase, have market capitalizations of $5 billion or more. Equity securities include common and preferred stocks, rights, warrants, and depositary receipts (including ADRs, American Depositary Shares, European Depositary Receipts, and Global Depositary Receipts). In managing the fund, the manager emphasizes a bottom-up approach to individual stock selection. The manager looks for companies with durable, niche business models that have the potential to allow them to earn high returns on capital and that are trading at a significant discount to the manager’s estimate of fair value. With the aid of proprietary financial models, companies are screened based on a number of factors, including balance sheet quality, profitability, liquidity, size, and risk profile. The manager then conducts in-depth fundamental research of individual companies to locate companies that have particular attributes, such as cash flow and earnings growth visibility, manageable risks, including business risk and financial risk, and above-average return on capital. Stocks considered for inclusion in the portfolio may also be experiencing some type of temporary weakness or short-term mispricing due to various factors, such as an inflection point in earnings power, turnaround situations, or a near-term earnings event. The fund intends to invest in a number of different sectors. The sectors in which the fund invests are primarily a result of stock selection and may, therefore, vary significantly from its benchmark. The fund may focus its investments in a particular sector or sectors of the economy. The fund may invest up to 10% of its total assets in foreign securities, including in emerging markets, which includes securities for which the relevant reference entity is domiciled outside of the United States, such as ADRs, which trade on U.S. exchanges. The fund may invest in initial public offerings (IPOs). The fund may also purchase real estate investment trusts (REITs) or other real estate-related equity securities, and certain exchange-traded funds (ETFs). The fund may also purchase warrants and rights on certain underlying securities, both U.S. dollar-denominated and otherwise. The fund normally will invest 10% or less of its total assets in cash and cash equivalents, including repurchase agreements, money market securities, U.S. government securities, and other short-term investments. The fund may, to a limited extent, engage in derivatives transactions that include futures contracts and foreign currency forward contracts, in each case for the purposes of reducing risk and/or obtaining efficient market exposure. The fund may invest in cash or money market instruments for the purpose of meeting redemption requests or making other anticipated cash payments. The fund may deviate from its principal investment strategies during transition periods, which may include the reassignment of portfolio management, a change in investment objective or strategy, a reorganization or liquidation, or the occurrence of large inflows or outflows.
Risk [Heading] rr_RiskHeading <span style="font-family:Arial Narrow;font-size:10pt;font-weight:bold;">Principal risks</span>
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading <span style="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 2000 Index and the Russell 2000 Value Index show 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.A note on performancePrior to April 25, 2025, the fund was managed by a different subadvisor pursuant to different investment strategies, and thus, the performance presented prior to this date should not be attributed to the current subadvisor. The fund’s performance shown below might have differed materially had the current subadvisor managed the fund prior to April 25, 2025.
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 NAV</span>
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock Best quarter:Q4 202034.84%Worst quarter:Q1 2020-36.20%
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 3000 Index as its new broad-based securities market index in accordance with the revised definition for such an index.</span><span style="font-family:Arial Narrow;font-size:8pt;">Prior to April 25, 2025, the fund’s additional benchmark was the Russell 2000 Value Index. Effective April 25, 2025, the fund’s additional benchmark is the Russell 2000 Index. The Russell 2000 Index better reflects the universe of investment opportunities based on the fund’s investment strategy.</span>
Small Cap Core 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.
Small Cap Core 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.
Small Cap Core 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.
Small Cap Core 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.
Small Cap Core 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.
Small Cap Core 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. 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.
Small Cap Core 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.
Small Cap Core 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. The risks of investing in foreign securities are magnified in emerging markets.
Small Cap Core 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: foreign currency forward contracts and futures contracts. Foreign currency forward contracts and futures contracts generally are subject to counterparty risk. Derivatives associated with foreign currency transactions are subject to currency risk.
Small Cap Core Trust | Initial Public Offerings Risk [Member]  
Risk Return Abstract rr_RiskReturnAbstract  
Risk [Text Block] rr_RiskTextBlock Initial public offerings (IPOs) risk. IPO share prices are frequently volatile and may significantly impact fund performance.
Small Cap Core 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 without negatively impacting its market value may be impaired by reduced market activity or participation, legal restrictions, or other economic and market impediments.
Small Cap Core 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.
Small Cap Core Trust | Preferred Stock Risk [Member]  
Risk Return Abstract rr_RiskReturnAbstract  
Risk [Text Block] rr_RiskTextBlock Preferred stock risk. Preferred stock generally ranks senior to common stock with respect to dividends and liquidation but ranks junior to debt securities. Unlike interest payments on debt securities, preferred stock dividends are payable only if declared by the issuer’s board of directors. Preferred stock may be subject to optional or mandatory redemption provisions.
Small Cap Core Trust | Real Estate Investment Trust Risk [Member]  
Risk Return Abstract rr_RiskReturnAbstract  
Risk [Text Block] rr_RiskTextBlock Real estate investment trust (REIT) risk. REITs, pooled investment vehicles that typically invest in real estate directly or in loans collateralized by real estate, carry risks associated with owning real estate, including the potential for a decline in value due to economic or market conditions.
Small Cap Core Trust | Real Estate Securities Risk [Member]  
Risk Return Abstract rr_RiskReturnAbstract  
Risk [Text Block] rr_RiskTextBlock Real estate securities risk. Securities of companies in the real estate industry carry risks associated with owning real estate, including the potential for a decline in value due to economic or market conditions.
Small Cap Core 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.
Small Cap Core 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.
Small Cap Core Trust | Small And Mid Sized Company Risk [Member]  
Risk Return Abstract rr_RiskReturnAbstract  
Risk [Text Block] rr_RiskTextBlock Small and mid-sized company risk. Small and mid-sized companies are generally less established and may be more volatile than larger companies. Small and/or mid-capitalization securities may underperform the market as a whole.
Small Cap Core Trust | Warrants Risk [Member]  
Risk Return Abstract rr_RiskReturnAbstract  
Risk [Text Block] rr_RiskTextBlock Warrants risk. The prices of warrants may not precisely reflect the prices of their underlying securities. Warrant holders do not receive dividends or have voting or credit rights. A warrant ceases to have value if not exercised prior to its expiration date.
Small Cap Core Trust | Series I  
Risk Return Abstract rr_RiskReturnAbstract  
Management fee rr_ManagementFeesOverAssets 0.82% [1]
Distribution and service (Rule 12b-1) fees rr_DistributionAndService12b1FeesOverAssets 0.05%
Other expenses rr_OtherExpensesOverAssets 0.06%
Total annual fund operating expenses rr_ExpensesOverAssets 0.93%
Contractual expense reimbursement rr_FeeWaiverOrReimbursementOverAssets (0.01%) [2]
Total annual fund operating expenses after expense reimbursements rr_NetExpensesOverAssets 0.92%
1 year rr_ExpenseExampleYear01 $ 94
3 years rr_ExpenseExampleYear03 295
5 years rr_ExpenseExampleYear05 514
10 years rr_ExpenseExampleYear10 $ 1,142
1 year rr_AverageAnnualReturnYear01 5.93%
5 year rr_AverageAnnualReturnYear05 5.00%
10 year rr_AverageAnnualReturnYear10 5.90%
Small Cap Core Trust | Series II  
Risk Return Abstract rr_RiskReturnAbstract  
Management fee rr_ManagementFeesOverAssets 0.82% [1]
Distribution and service (Rule 12b-1) fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Other expenses rr_OtherExpensesOverAssets 0.06%
Total annual fund operating expenses rr_ExpensesOverAssets 1.13%
Contractual expense reimbursement rr_FeeWaiverOrReimbursementOverAssets (0.01%) [2]
Total annual fund operating expenses after expense reimbursements rr_NetExpensesOverAssets 1.12%
1 year rr_ExpenseExampleYear01 $ 114
3 years rr_ExpenseExampleYear03 358
5 years rr_ExpenseExampleYear05 621
10 years rr_ExpenseExampleYear10 $ 1,374
1 year rr_AverageAnnualReturnYear01 5.74%
5 year rr_AverageAnnualReturnYear05 4.78%
10 year rr_AverageAnnualReturnYear10 5.69%
Small Cap Core Trust | NAV  
Risk Return Abstract rr_RiskReturnAbstract  
Management fee rr_ManagementFeesOverAssets 0.82% [1]
Distribution and service (Rule 12b-1) fees rr_DistributionAndService12b1FeesOverAssets none
Other expenses rr_OtherExpensesOverAssets 0.06%
Total annual fund operating expenses rr_ExpensesOverAssets 0.88%
Contractual expense reimbursement rr_FeeWaiverOrReimbursementOverAssets (0.01%) [2]
Total annual fund operating expenses after expense reimbursements rr_NetExpensesOverAssets 0.87%
1 year rr_ExpenseExampleYear01 $ 89
3 years rr_ExpenseExampleYear03 280
5 years rr_ExpenseExampleYear05 487
10 years rr_ExpenseExampleYear10 $ 1,083
2015 rr_AnnualReturn2015 (1.31%)
2016 rr_AnnualReturn2016 22.68%
2017 rr_AnnualReturn2017 3.79%
2018 rr_AnnualReturn2018 (12.45%)
2019 rr_AnnualReturn2019 26.62%
2020 rr_AnnualReturn2020 (6.68%)
2021 rr_AnnualReturn2021 26.30%
2022 rr_AnnualReturn2022 (10.25%)
2023 rr_AnnualReturn2023 14.07%
2024 rr_AnnualReturn2024 6.01%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel <span style="font-family:Arial Narrow;font-size:8pt;font-weight:bold;margin-left:0.0pt;">Best quarter:</span>
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Dec. 31, 2020
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 34.84%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel <span style="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 (36.20%)
1 year rr_AverageAnnualReturnYear01 6.01%
5 year rr_AverageAnnualReturnYear05 5.05%
10 year rr_AverageAnnualReturnYear10 5.95%
Small Cap Core Trust | Russell 3000 Index (reflects no deduction for fees, expenses, or taxes)  
Risk Return Abstract rr_RiskReturnAbstract  
1 year rr_AverageAnnualReturnYear01 23.81% [3]
5 year rr_AverageAnnualReturnYear05 13.86% [3]
10 year rr_AverageAnnualReturnYear10 12.55% [3]
Small Cap Core Trust | Russell 2000 Index (reflects no deduction for fees, expenses, or taxes)  
Risk Return Abstract rr_RiskReturnAbstract  
1 year rr_AverageAnnualReturnYear01 11.54% [4]
5 year rr_AverageAnnualReturnYear05 7.40% [4]
10 year rr_AverageAnnualReturnYear10 7.82% [4]
Small Cap Core Trust | Russell 2000 Value Index (reflects no deduction for fees, expenses, or taxes)  
Risk Return Abstract rr_RiskReturnAbstract  
1 year rr_AverageAnnualReturnYear01 8.05%
5 year rr_AverageAnnualReturnYear05 7.29%
10 year rr_AverageAnnualReturnYear10 7.14%
[1] “Management fee” has been restated to reflect the contractual management fee schedule effective April 25, 2025.
[2] 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.
[3] The fund has designated the Russell 3000 Index as its new broad-based securities market index in accordance with the revised definition for such an index.
[4] Prior to April 25, 2025, the fund’s additional benchmark was the Russell 2000 Value Index. Effective April 25, 2025, the fund’s additional benchmark is the Russell 2000 Index. The Russell 2000 Index better reflects the universe of investment opportunities based on the fund’s investment strategy.