UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D. C. 20549
FORM N-CSRS
Investment Company Act file number: 811-07507
Deutsche DWS Investments VIT Funds
(Exact Name of Registrant as Specified in Charter)
875 Third Avenue
New York, NY 10022-6225
(Address of Principal Executive Offices) (Zip Code)
Registrant’s Telephone Number, including Area Code: (212) 454-4500
Diane Kenneally
100 Summer Street
Boston, MA 02110
(Name and Address of Agent for Service)
Date of fiscal year end: | 12/31 |
Date of reporting period: | 6/30/2021 |
ITEM 1. | REPORT TO STOCKHOLDERS |
(a) | |
2 | | DWS Equity 500 Index VIP |
Performance Summary | June 30, 2021 (Unaudited) |
Comparative Results | |||||||
DWS Equity 500 Index VIP | 6-Month ‡ | 1-Year | 3-Year | 5-Year | 10-Year | ||
Class A | Growth of $10,000 | $11,510 | $14,047 | $16,594 | $22,243 | $38,839 | |
Average annual total return | 15.10% | 40.47% | 18.39% | 17.34% | 14.53% | ||
S&P 500 Index | Growth of $10,000 | $11,525 | $14,079 | $16,713 | $22,536 | $39,893 | |
Average annual total return | 15.25% | 40.79% | 18.67% | 17.65% | 14.84% | ||
DWS Equity 500 Index VIP | 6-Month ‡ | 1-Year | 3-Year | 5-Year | 10-Year | ||
Class B | Growth of $10,000 | $11,491 | $13,992 | $16,402 | $21,855 | $37,688 | |
Average annual total return | 14.91% | 39.92% | 17.93% | 16.93% | 14.19% | ||
S&P 500 Index | Growth of $10,000 | $11,525 | $14,079 | $16,713 | $22,536 | $39,893 | |
Average annual total return | 15.25% | 40.79% | 18.67% | 17.65% | 14.84% | ||
DWS Equity 500 Index VIP | 6-Month ‡ | 1-Year | 3-Year | 5-Year | 10-Year | ||
Class B2 | Growth of $10,000 | $11,488 | $13,992 | $16,396 | $21,807 | $37,382 | |
Average annual total return | 14.88% | 39.92% | 17.92% | 16.87% | 14.09% | ||
S&P 500 Index | Growth of $10,000 | $11,525 | $14,079 | $16,713 | $22,536 | $39,893 | |
Average annual total return | 15.25% | 40.79% | 18.67% | 17.65% | 14.84% | ||
The growth of $10,000 is cumulative. |
‡ | Total returns shown for periods less than one year are not annualized. |
DWS Equity 500 Index VIP | | 3 |
Portfolio Summary | (Unaudited) |
Asset Allocation (As a % of Investment Portfolio excluding Securities Lending Collateral) | 6/30/21 | 12/31/20 |
Common Stocks | 99% | 99% |
Cash Equivalents | 1% | 1% |
Government & Agency Obligations | 0% | 0% |
100% | 100% |
Sector Diversification (As a % of Common Stocks) | 6/30/21 | 12/31/20 |
Information Technology | 27% | 28% |
Health Care | 13% | 13% |
Consumer Discretionary | 12% | 13% |
Financials | 11% | 10% |
Communication Services | 11% | 11% |
Industrials | 9% | 8% |
Consumer Staples | 6% | 7% |
Energy | 3% | 2% |
Materials | 3% | 3% |
Real Estate | 3% | 2% |
Utilities | 2% | 3% |
100% | 100% |
Ten Largest Equity Holdings at June 30, 2021 (28.3% of Net Assets) | |
1 Apple, Inc. | 5.8% |
Designs, manufactures and markets personal computers and related computing and mobile-communication devices | |
2 Microsoft Corp. | 5.6% |
Develops, manufactures, licenses, sells and supports software products | |
3 Amazon.com, Inc. | 4.0% |
Online retailer offering a wide range of products | |
4 Alphabet, Inc. | 3.9% |
Holding company with subsidiaries that provide Web-based search, maps, hardware products and various software applications | |
5 Facebook, Inc. | 2.3% |
Operator of social networking Web site | |
6 Berkshire Hathaway, Inc. | 1.4% |
Holding company of insurance business and a variety of other businesses | |
7 Tesla, Inc. | 1.4% |
Designs, manufactures and sells high-perfomance electric vehicles and electric vehicle powertrain components | |
8 NVIDIA Corp. | 1.4% |
Designs, develops and markets three dimensional (3D) graphic processors | |
9 JPMorgan Chase & Co. | 1.3% |
Provider of global financial services | |
10 Johnson & Johnson | 1.2% |
Provider of health care products |
4 | | DWS Equity 500 Index VIP |
Investment Portfolio | as of June 30, 2021 (Unaudited) |
Shares | Value ($) | ||
Common Stocks 99.0% | |||
Communication Services 11.0% | |||
Diversified Telecommunication Services 1.2% | |||
AT&T, Inc. | 144,504 | 4,158,825 | |
Lumen Technologies, Inc. | 20,393 | 277,141 | |
Verizon Communications, Inc. | 83,621 | 4,685,285 | |
9,121,251 | |||
Entertainment 1.9% | |||
Activision Blizzard, Inc. | 15,777 | 1,505,757 | |
Electronic Arts, Inc. | 5,821 | 837,234 | |
Live Nation Entertainment, Inc.* | 2,954 | 258,741 | |
Netflix, Inc.* | 8,955 | 4,730,121 | |
Take-Two Interactive Software, Inc.* | 2,311 | 409,093 | |
Walt Disney Co.* | 36,701 | 6,450,935 | |
14,191,881 | |||
Interactive Media & Services 6.4% | |||
Alphabet, Inc. "A"* | 6,078 | 14,841,200 | |
Alphabet, Inc. "C"* | 5,751 | 14,413,846 | |
Facebook, Inc. "A"* | 48,413 | 16,833,684 | |
Twitter, Inc.* | 16,099 | 1,107,772 | |
47,196,502 | |||
Media 1.3% | |||
Charter Communications, Inc. "A"* | 2,778 | 2,004,188 | |
Comcast Corp. "A" | 92,543 | 5,276,802 | |
Discovery, Inc. "A"* (a) | 3,535 | 108,454 | |
Discovery, Inc. "C"* | 5,921 | 171,591 | |
DISH Network Corp. "A"* | 5,011 | 209,460 | |
Fox Corp. "A" | 6,671 | 247,694 | |
Fox Corp. "B" | 3,176 | 111,795 | |
Interpublic Group of Companies, Inc. | 7,965 | 258,783 | |
News Corp. "A" | 7,863 | 202,629 | |
News Corp. "B" | 2,595 | 63,188 | |
Omnicom Group, Inc. | 4,301 | 344,037 | |
ViacomCBS, Inc. "B" | 12,229 | 552,751 | |
9,551,372 | |||
Wireless Telecommunication Services 0.2% | |||
T-Mobile U.S., Inc.* | 11,820 | 1,711,890 | |
Consumer Discretionary 12.2% | |||
Auto Components 0.2% | |||
Aptiv PLC* | 5,493 | 864,214 | |
BorgWarner, Inc. | 4,811 | 233,526 | |
1,097,740 | |||
Automobiles 1.8% | |||
Ford Motor Co.* | 79,506 | 1,181,459 | |
General Motors Co.* | 25,752 | 1,523,746 |
Shares | Value ($) | ||
Tesla, Inc.* | 15,569 | 10,582,249 | |
13,287,454 | |||
Distributors 0.2% | |||
Genuine Parts Co. | 2,949 | 372,960 | |
LKQ Corp.* | 5,548 | 273,073 | |
Pool Corp. | 806 | 369,680 | |
1,015,713 | |||
Hotels, Restaurants & Leisure 1.7% | |||
Caesars Entertainment, Inc.* | 4,273 | 443,324 | |
Carnival Corp.* | 15,954 | 420,547 | |
Chipotle Mexican Grill, Inc.* | 565 | 875,942 | |
Darden Restaurants, Inc. | 2,681 | 391,399 | |
Domino's Pizza, Inc. | 782 | 364,795 | |
Hilton Worldwide Holdings, Inc.* | 5,678 | 684,880 | |
Las Vegas Sands Corp.* | 6,651 | 350,441 | |
Marriott International, Inc. "A"* | 5,369 | 732,976 | |
McDonald's Corp. | 15,092 | 3,486,101 | |
MGM Resorts International | 8,341 | 355,744 | |
Norwegian Cruise Line Holdings Ltd.* (a) | 7,394 | 217,458 | |
Penn National Gaming, Inc.* | 3,077 | 235,360 | |
Royal Caribbean Cruises Ltd.* | 4,394 | 374,720 | |
Starbucks Corp. | 23,761 | 2,656,717 | |
Wynn Resorts Ltd.* | 2,070 | 253,161 | |
Yum! Brands, Inc. | 5,989 | 688,915 | |
12,532,480 | |||
Household Durables 0.4% | |||
D.R. Horton, Inc. | 6,621 | 598,340 | |
Garmin Ltd. | 3,060 | 442,598 | |
Leggett & Platt, Inc. | 2,560 | 132,634 | |
Lennar Corp. "A" | 5,601 | 556,459 | |
Mohawk Industries, Inc.* | 1,211 | 232,742 | |
Newell Brands, Inc. | 7,831 | 215,117 | |
NVR, Inc.* | 69 | 343,158 | |
PulteGroup, Inc. | 5,298 | 289,112 | |
Whirlpool Corp. | 1,244 | 271,217 | |
3,081,377 | |||
Internet & Direct Marketing Retail 4.5% | |||
Amazon.com, Inc.* | 8,661 | 29,795,226 | |
Booking Holdings, Inc.* | 828 | 1,811,738 | |
eBay, Inc. | 13,135 | 922,208 | |
Etsy, Inc.* | 2,595 | 534,155 | |
Expedia Group, Inc.* | 2,845 | 465,755 | |
33,529,082 | |||
Leisure Products 0.0% | |||
Hasbro, Inc. | 2,636 | 249,155 | |
Multiline Retail 0.5% | |||
Dollar General Corp. | 4,768 | 1,031,748 | |
Dollar Tree, Inc.* | 4,685 | 466,157 |
DWS Equity 500 Index VIP | | 5 |
Shares | Value ($) | ||
Target Corp. | 9,990 | 2,414,983 | |
3,912,888 | |||
Specialty Retail 2.2% | |||
Advance Auto Parts, Inc. | 1,334 | 273,657 | |
AutoZone, Inc.* | 435 | 649,116 | |
Best Buy Co., Inc. | 4,499 | 517,295 | |
CarMax, Inc.* | 3,336 | 430,844 | |
Home Depot, Inc. | 21,484 | 6,851,033 | |
L Brands, Inc. | 4,670 | 336,520 | |
Lowe's Companies, Inc. | 14,275 | 2,768,922 | |
O'Reilly Automotive, Inc.* | 1,417 | 802,319 | |
Ross Stores, Inc. | 7,239 | 897,636 | |
The Gap, Inc. | 4,339 | 146,007 | |
TJX Companies, Inc. | 24,429 | 1,647,003 | |
Tractor Supply Co. | 2,347 | 436,683 | |
Ulta Beauty, Inc.* | 1,101 | 380,693 | |
16,137,728 | |||
Textiles, Apparel & Luxury Goods 0.7% | |||
Hanesbrands, Inc. | 7,020 | 131,063 | |
NIKE, Inc. "B" | 25,797 | 3,985,378 | |
PVH Corp.* | 1,413 | 152,025 | |
Ralph Lauren Corp. | 946 | 111,448 | |
Tapestry, Inc.* | 5,543 | 241,010 | |
Under Armour, Inc. "A"* (a) | 3,505 | 74,131 | |
Under Armour, Inc. "C"* | 3,745 | 69,545 | |
VF Corp. | 6,554 | 537,690 | |
5,302,290 | |||
Consumer Staples 5.8% | |||
Beverages 1.4% | |||
Brown-Forman Corp. "B" | 3,771 | 282,599 | |
Coca-Cola Co. | 78,396 | 4,242,007 | |
Constellation Brands, Inc. "A" | 3,445 | 805,751 | |
Molson Coors Beverage Co. "B"* | 3,730 | 200,264 | |
Monster Beverage Corp.* | 7,516 | 686,587 | |
PepsiCo, Inc. | 27,902 | 4,134,239 | |
10,351,447 | |||
Food & Staples Retailing 1.3% | |||
Costco Wholesale Corp. | 8,928 | 3,532,542 | |
Kroger Co. | 15,192 | 582,005 | |
Sysco Corp. | 10,296 | 800,514 | |
Walgreens Boots Alliance, Inc. | 14,619 | 769,106 | |
Walmart, Inc. | 27,750 | 3,913,305 | |
9,597,472 | |||
Food Products 0.9% | |||
Archer-Daniels-Midland Co. | 11,370 | 689,022 | |
Campbell Soup Co. | 3,994 | 182,087 | |
Conagra Brands, Inc. | 9,686 | 352,377 | |
General Mills, Inc. | 12,280 | 748,220 | |
Hormel Foods Corp. | 5,599 | 267,352 | |
J M Smucker Co. | 2,225 | 288,293 | |
Kellogg Co. | 5,065 | 325,831 |
Shares | Value ($) | ||
Kraft Heinz Co. | 13,169 | 537,032 | |
Lamb Weston Holdings, Inc. | 2,909 | 234,640 | |
McCormick & Co., Inc. | 5,106 | 450,962 | |
Mondelez International, Inc. "A" | 28,334 | 1,769,175 | |
The Hershey Co. | 2,978 | 518,708 | |
Tyson Foods, Inc. "A" | 6,051 | 446,322 | |
6,810,021 | |||
Household Products 1.3% | |||
Church & Dwight Co., Inc. | 4,907 | 418,175 | |
Clorox Co. | 2,518 | 453,014 | |
Colgate-Palmolive Co. | 17,081 | 1,389,539 | |
Kimberly-Clark Corp. | 6,845 | 915,724 | |
Procter & Gamble Co. | 49,454 | 6,672,828 | |
9,849,280 | |||
Personal Products 0.2% | |||
Estee Lauder Companies, Inc. "A" | 4,679 | 1,488,296 | |
Tobacco 0.7% | |||
Altria Group, Inc. | 37,389 | 1,782,707 | |
Philip Morris International, Inc. | 31,470 | 3,118,992 | |
4,901,699 | |||
Energy 2.8% | |||
Energy Equipment & Services 0.2% | |||
Baker Hughes Co. | 14,766 | 337,698 | |
Halliburton Co. | 17,768 | 410,796 | |
NOV, Inc.* | 7,594 | 116,340 | |
Schlumberger NV | 28,442 | 910,429 | |
1,775,263 | |||
Oil, Gas & Consumable Fuels 2.6% | |||
APA Corp. | 7,448 | 161,100 | |
Cabot Oil & Gas Corp. | 7,814 | 136,432 | |
Chevron Corp. | 39,004 | 4,085,279 | |
ConocoPhillips | 27,374 | 1,667,077 | |
Devon Energy Corp. | 12,088 | 352,849 | |
Diamondback Energy, Inc. | 3,667 | 344,295 | |
EOG Resources, Inc. | 11,857 | 989,348 | |
Exxon Mobil Corp. | 85,553 | 5,396,683 | |
Hess Corp. | 5,498 | 480,085 | |
Kinder Morgan, Inc. | 39,265 | 715,801 | |
Marathon Oil Corp. | 16,147 | 219,922 | |
Marathon Petroleum Corp. | 12,874 | 777,847 | |
Occidental Petroleum Corp. | 16,773 | 524,492 | |
ONEOK, Inc. | 8,947 | 497,811 | |
Phillips 66 | 8,832 | 757,962 | |
Pioneer Natural Resources Co. | 4,705 | 764,657 | |
Valero Energy Corp. | 8,293 | 647,517 | |
Williams Companies, Inc. | 24,680 | 655,254 | |
19,174,411 |
6 | | DWS Equity 500 Index VIP |
Shares | Value ($) | ||
Financials 11.2% | |||
Banks 4.3% | |||
Bank of America Corp. | 152,521 | 6,288,441 | |
Citigroup, Inc. | 41,809 | 2,957,987 | |
Citizens Financial Group, Inc. | 8,525 | 391,042 | |
Comerica, Inc. | 2,739 | 195,400 | |
Fifth Third Bancorp. | 14,246 | 544,625 | |
First Republic Bank | 3,564 | 667,074 | |
Huntington Bancshares, Inc. | 29,572 | 421,992 | |
JPMorgan Chase & Co. | 61,218 | 9,521,848 | |
KeyCorp. | 19,493 | 402,530 | |
M&T Bank Corp. | 2,564 | 372,575 | |
People's United Financial, Inc. | 8,345 | 143,033 | |
PNC Financial Services Group, Inc. | 8,592 | 1,639,010 | |
Regions Financial Corp. | 19,192 | 387,295 | |
SVB Financial Group* | 1,104 | 614,299 | |
Truist Financial Corp. | 27,220 | 1,510,710 | |
U.S. Bancorp. | 27,455 | 1,564,111 | |
Wells Fargo & Co. | 83,576 | 3,785,157 | |
Zions Bancorp. NA | 3,213 | 169,839 | |
31,576,968 | |||
Capital Markets 3.0% | |||
Ameriprise Financial, Inc. | 2,358 | 586,859 | |
Bank of New York Mellon Corp. | 16,352 | 837,713 | |
BlackRock, Inc. | 2,864 | 2,505,914 | |
Cboe Global Markets, Inc. | 2,150 | 255,957 | |
Charles Schwab Corp. | 30,359 | 2,210,439 | |
CME Group, Inc. | 7,252 | 1,542,355 | |
Franklin Resources., Inc. | 5,380 | 172,106 | |
Intercontinental Exchange, Inc. | 11,424 | 1,356,029 | |
Invesco Ltd. | 7,807 | 208,681 | |
MarketAxess Holdings, Inc. | 761 | 352,792 | |
Moody's Corp. | 3,243 | 1,175,166 | |
Morgan Stanley | 30,062 | 2,756,385 | |
MSCI, Inc. | 1,663 | 886,512 | |
Nasdaq, Inc. | 2,301 | 404,516 | |
Northern Trust Corp. | 4,228 | 488,841 | |
Raymond James Financial, Inc. | 2,505 | 325,399 | |
S&P Global, Inc. | 4,869 | 1,998,481 | |
State Street Corp. | 7,034 | 578,758 | |
T. Rowe Price Group, Inc. | 4,575 | 905,713 | |
The Goldman Sachs Group, Inc. | 6,875 | 2,609,269 | |
22,157,885 | |||
Consumer Finance 0.7% | |||
American Express Co. | 13,138 | 2,170,792 | |
Capital One Financial Corp. | 9,116 | 1,410,154 | |
Discover Financial Services | 6,157 | 728,312 | |
Synchrony Financial | 10,908 | 529,256 | |
4,838,514 |
Shares | Value ($) | ||
Diversified Financial Services 1.4% | |||
Berkshire Hathaway, Inc. "B"* | 38,300 | 10,644,337 | |
Insurance 1.8% | |||
Aflac, Inc. | 12,697 | 681,321 | |
Allstate Corp. | 6,035 | 787,205 | |
American International Group, Inc. | 17,274 | 822,242 | |
Aon PLC "A" | 4,578 | 1,093,043 | |
Arthur J. Gallagher & Co. | 4,190 | 586,935 | |
Assurant, Inc. | 1,214 | 189,603 | |
Chubb Ltd. | 9,068 | 1,441,268 | |
Cincinnati Financial Corp. | 2,999 | 349,743 | |
Everest Re Group Ltd. | 804 | 202,616 | |
Globe Life, Inc. | 1,931 | 183,928 | |
Hartford Financial Services Group, Inc. | 7,271 | 450,584 | |
Lincoln National Corp. | 3,676 | 231,000 | |
Loews Corp. | 4,583 | 250,461 | |
Marsh & McLennan Companies, Inc. | 10,321 | 1,451,958 | |
MetLife, Inc. | 15,007 | 898,169 | |
Principal Financial Group, Inc. | 5,164 | 326,313 | |
Progressive Corp. | 11,817 | 1,160,548 | |
Prudential Financial, Inc. | 7,898 | 809,308 | |
Travelers Companies, Inc. | 5,068 | 758,730 | |
Unum Group | 4,267 | 121,183 | |
W.R. Berkley Corp. | 2,760 | 205,427 | |
Willis Towers Watson PLC | 2,599 | 597,822 | |
13,599,407 | |||
Health Care 12.9% | |||
Biotechnology 1.8% | |||
AbbVie, Inc. | 35,686 | 4,019,671 | |
Alexion Pharmaceuticals, Inc.* | 4,453 | 818,061 | |
Amgen, Inc. | 11,620 | 2,832,375 | |
Biogen, Inc.* | 3,042 | 1,053,353 | |
Gilead Sciences, Inc. | 25,362 | 1,746,427 | |
Incyte Corp.* | 3,843 | 323,312 | |
Regeneron Pharmaceuticals, Inc.* | 2,117 | 1,182,429 | |
Vertex Pharmaceuticals, Inc.* | 5,234 | 1,055,331 | |
13,030,959 | |||
Health Care Equipment & Supplies 3.6% | |||
Abbott Laboratories | 35,921 | 4,164,322 | |
ABIOMED, Inc.* | 902 | 281,523 | |
Align Technology, Inc.* | 1,452 | 887,172 | |
Baxter International, Inc. | 10,107 | 813,613 | |
Becton, Dickinson & Co. | 5,903 | 1,435,551 | |
Boston Scientific Corp.* | 28,690 | 1,226,784 | |
Danaher Corp. | 12,810 | 3,437,692 | |
DENTSPLY SIRONA, Inc. | 4,353 | 275,371 | |
DexCom, Inc.* | 1,966 | 839,482 | |
Edwards Lifesciences Corp.* | 12,530 | 1,297,732 | |
Hologic, Inc.* | 5,224 | 348,545 |
DWS Equity 500 Index VIP | | 7 |
Shares | Value ($) | ||
IDEXX Laboratories, Inc.* | 1,735 | 1,095,739 | |
Intuitive Surgical, Inc.* | 2,398 | 2,205,297 | |
Medtronic PLC | 27,159 | 3,371,247 | |
ResMed, Inc. | 2,969 | 731,918 | |
STERIS PLC | 2,005 | 413,631 | |
Stryker Corp. | 6,608 | 1,716,296 | |
Teleflex, Inc. | 933 | 374,870 | |
The Cooper Companies, Inc. | 1,010 | 400,233 | |
West Pharmaceutical Services, Inc. | 1,502 | 539,368 | |
Zimmer Biomet Holdings, Inc. | 4,243 | 682,359 | |
26,538,745 | |||
Health Care Providers & Services 2.6% | |||
AmerisourceBergen Corp. | 2,949 | 337,631 | |
Anthem, Inc. | 4,953 | 1,891,055 | |
Cardinal Health, Inc. | 5,954 | 339,914 | |
Centene Corp.* | 11,723 | 854,958 | |
Cigna Corp. | 6,939 | 1,645,029 | |
CVS Health Corp. | 26,641 | 2,222,925 | |
DaVita, Inc.* | 1,409 | 169,686 | |
HCA Healthcare, Inc. | 5,298 | 1,095,309 | |
Henry Schein, Inc.* | 2,895 | 214,780 | |
Humana, Inc. | 2,591 | 1,147,087 | |
Laboratory Corp. of America Holdings* | 1,961 | 540,942 | |
McKesson Corp. | 3,215 | 614,837 | |
Quest Diagnostics, Inc. | 2,635 | 347,741 | |
UnitedHealth Group, Inc. | 19,080 | 7,640,395 | |
Universal Health Services, Inc. "B" | 1,605 | 235,020 | |
19,297,309 | |||
Health Care Technology 0.1% | |||
Cerner Corp. | 6,066 | 474,119 | |
Life Sciences Tools & Services 1.2% | |||
Agilent Technologies, Inc. | 6,119 | 904,449 | |
Bio-Rad Laboratories, Inc. "A"* | 433 | 278,978 | |
Charles River Laboratories International, Inc.* | 1,009 | 373,249 | |
Illumina, Inc.* | 2,949 | 1,395,496 | |
IQVIA Holdings, Inc.* | 3,868 | 937,294 | |
Mettler-Toledo International, Inc.* | 473 | 655,266 | |
PerkinElmer, Inc. | 2,242 | 346,187 | |
Thermo Fisher Scientific, Inc. | 7,937 | 4,003,978 | |
Waters Corp.* | 1,240 | 428,557 | |
9,323,454 | |||
Pharmaceuticals 3.6% | |||
Bristol-Myers Squibb Co. | 45,103 | 3,013,782 | |
Catalent, Inc.* | 3,425 | 370,311 | |
Eli Lilly & Co. | 16,081 | 3,690,911 | |
Johnson & Johnson | 53,231 | 8,769,275 | |
Merck & Co., Inc. | 51,149 | 3,977,858 | |
Organon & Co.* | 4,972 | 150,453 | |
Perrigo Co. PLC | 2,774 | 127,188 |
Shares | Value ($) | ||
Pfizer, Inc. | 113,252 | 4,434,948 | |
Viatris, Inc. | 24,193 | 345,718 | |
Zoetis, Inc. | 9,582 | 1,785,702 | |
26,666,146 | |||
Industrials 8.5% | |||
Aerospace & Defense 1.6% | |||
Boeing Co.* | 11,101 | 2,659,356 | |
General Dynamics Corp. | 4,613 | 868,443 | |
Howmet Aerospace, Inc.* | 8,027 | 276,691 | |
Huntington Ingalls Industries, Inc. | 782 | 164,806 | |
L3Harris Technologies, Inc. | 4,129 | 892,483 | |
Lockheed Martin Corp. | 4,945 | 1,870,941 | |
Northrop Grumman Corp. | 3,023 | 1,098,649 | |
Raytheon Technologies Corp. | 30,563 | 2,607,330 | |
Teledyne Technologies, Inc.* | 950 | 397,888 | |
Textron, Inc. | 4,630 | 318,405 | |
TransDigm Group, Inc.* | 1,113 | 720,434 | |
11,875,426 | |||
Air Freight & Logistics 0.7% | |||
C.H. Robinson Worldwide, Inc. | 2,698 | 252,722 | |
Expeditors International of Washington, Inc. | 3,400 | 430,440 | |
FedEx Corp. | 4,934 | 1,471,960 | |
United Parcel Service, Inc. "B" | 14,618 | 3,040,105 | |
5,195,227 | |||
Airlines 0.3% | |||
Alaska Air Group, Inc.* | 2,403 | 144,925 | |
American Airlines Group, Inc.* (a) | 13,161 | 279,145 | |
Delta Air Lines, Inc.* | 12,927 | 559,222 | |
Southwest Airlines Co.* | 12,016 | 637,929 | |
United Airlines Holdings, Inc.* | 6,662 | 348,356 | |
1,969,577 | |||
Building Products 0.5% | |||
A.O. Smith Corp. | 2,784 | 200,615 | |
Allegion PLC | 1,811 | 252,272 | |
Carrier Global Corp. | 16,576 | 805,594 | |
Fortune Brands Home & Security, Inc. | 2,767 | 275,621 | |
Johnson Controls International PLC | 14,450 | 991,704 | |
Masco Corp. | 5,143 | 302,974 | |
Trane Technologies PLC | 4,796 | 883,135 | |
3,711,915 | |||
Commercial Services & Supplies 0.4% | |||
Cintas Corp. | 1,773 | 677,286 | |
Copart, Inc.* | 4,263 | 561,991 | |
Republic Services, Inc. | 4,308 | 473,923 | |
Rollins, Inc. | 4,543 | 155,371 | |
Waste Management, Inc. | 7,817 | 1,095,240 | |
2,963,811 |
8 | | DWS Equity 500 Index VIP |
Shares | Value ($) | ||
Construction & Engineering 0.1% | |||
Jacobs Engineering Group, Inc. | 2,664 | 355,431 | |
Quanta Services, Inc. | 2,792 | 252,871 | |
608,302 | |||
Electrical Equipment 0.6% | |||
AMETEK, Inc. | 4,635 | 618,773 | |
Eaton Corp. PLC | 8,029 | 1,189,737 | |
Emerson Electric Co. | 12,147 | 1,169,027 | |
Generac Holdings, Inc.* | 1,261 | 523,504 | |
Rockwell Automation, Inc. | 2,342 | 669,859 | |
4,170,900 | |||
Industrial Conglomerates 1.2% | |||
3M Co. | 11,714 | 2,326,752 | |
General Electric Co. | 177,262 | 2,385,947 | |
Honeywell International, Inc. | 14,029 | 3,077,261 | |
Roper Technologies, Inc. | 2,122 | 997,764 | |
8,787,724 | |||
IT Services 0.0% | |||
Leidos Holdings, Inc. | 2,712 | 274,183 | |
Machinery 1.7% | |||
Caterpillar, Inc. | 11,055 | 2,405,900 | |
Cummins, Inc. | 2,953 | 719,971 | |
Deere & Co. | 6,299 | 2,221,720 | |
Dover Corp. | 2,938 | 442,463 | |
Fortive Corp. | 6,909 | 481,834 | |
IDEX Corp. | ��� 1,554 | 341,958 | |
Illinois Tool Works, Inc. | 5,805 | 1,297,766 | |
Ingersoll Rand, Inc.* | 7,671 | 374,421 | |
Otis Worldwide Corp. | 8,119 | 663,890 | |
PACCAR, Inc. | 6,991 | 623,947 | |
Parker-Hannifin Corp. | 2,601 | 798,793 | |
Pentair PLC | 3,302 | 222,852 | |
Snap-on, Inc. | 1,091 | 243,762 | |
Stanley Black & Decker, Inc. | 3,279 | 672,162 | |
Westinghouse Air Brake Technologies Corp. | 3,621 | 298,008 | |
Xylem, Inc. | 3,605 | 432,456 | |
12,241,903 | |||
Professional Services 0.3% | |||
Equifax, Inc. | 2,474 | 592,548 | |
IHS Markit Ltd. | 7,530 | 848,330 | |
Nielsen Holdings PLC | 7,398 | 182,509 | |
Robert Half International, Inc. | 2,266 | 201,606 | |
Verisk Analytics, Inc. | 3,302 | 576,925 | |
2,401,918 | |||
Road & Rail 0.9% | |||
CSX Corp. | 45,933 | 1,473,531 | |
J.B. Hunt Transport Services, Inc. | 1,663 | 270,986 | |
Kansas City Southern | 1,825 | 517,150 | |
Norfolk Southern Corp. | 5,056 | 1,341,913 |
Shares | Value ($) | ||
Old Dominion Freight Line, Inc. | 1,920 | 487,296 | |
Union Pacific Corp. | 13,431 | 2,953,880 | |
7,044,756 | |||
Trading Companies & Distributors 0.2% | |||
Fastenal Co. | 11,580 | 602,160 | |
United Rentals, Inc.* | 1,464 | 467,031 | |
W.W. Grainger, Inc. | 877 | 384,126 | |
1,453,317 | |||
Information Technology 27.1% | |||
Communications Equipment 0.8% | |||
Arista Networks, Inc.* | 1,107 | 401,077 | |
Cisco Systems, Inc. | 85,188 | 4,514,964 | |
F5 Networks, Inc.* | 1,202 | 224,365 | |
Juniper Networks, Inc. | 6,794 | 185,816 | |
Motorola Solutions, Inc. | 3,423 | 742,278 | |
6,068,500 | |||
Electronic Equipment, Instruments & Components 0.6% | |||
Amphenol Corp. "A" | 12,036 | 823,383 | |
CDW Corp. | 2,847 | 497,229 | |
Corning, Inc. | 15,639 | 639,635 | |
IPG Photonics Corp.* | 752 | 158,499 | |
Keysight Technologies, Inc.* | 3,695 | 570,545 | |
TE Connectivity Ltd. | 6,718 | 908,341 | |
Trimble, Inc.* | 5,011 | 410,050 | |
Zebra Technologies Corp. "A"* | 1,074 | 568,672 | |
4,576,354 | |||
IT Services 5.1% | |||
Accenture PLC "A" | 12,856 | 3,789,820 | |
Akamai Technologies, Inc.* | 3,283 | 382,798 | |
Automatic Data Processing, Inc. | 8,589 | 1,705,947 | |
Broadridge Financial Solutions, Inc. | 2,376 | 383,795 | |
Cognizant Technology Solutions Corp. "A" | 10,612 | 734,987 | |
DXC Technology Co.* | 5,114 | 199,139 | |
Fidelity National Information Services, Inc. | 12,514 | 1,772,858 | |
Fiserv, Inc.* | 12,018 | 1,284,604 | |
FleetCor Technologies, Inc.* | 1,686 | 431,717 | |
Gartner, Inc.* | 1,732 | 419,491 | |
Global Payments, Inc. | 5,954 | 1,116,613 | |
International Business Machines Corp. | 18,052 | 2,646,243 | |
Jack Henry & Associates, Inc. | 1,494 | 244,284 | |
MasterCard, Inc. "A" | 17,672 | 6,451,871 | |
Paychex, Inc. | 6,445 | 691,549 | |
PayPal Holdings, Inc.* | 23,751 | 6,922,942 | |
VeriSign, Inc.* | 1,993 | 453,786 | |
Visa, Inc. "A" (a) | 34,176 | 7,991,032 | |
Western Union Co. | 8,062 | 185,184 | |
37,808,660 |
DWS Equity 500 Index VIP | | 9 |
Shares | Value ($) | ||
Semiconductors & Semiconductor Equipment 5.7% | |||
Advanced Micro Devices, Inc.* | 24,538 | 2,304,854 | |
Analog Devices, Inc. | 7,424 | 1,278,116 | |
Applied Materials, Inc. | 18,527 | 2,638,245 | |
Broadcom, Inc. | 8,243 | 3,930,592 | |
Enphase Energy, Inc.* | 2,735 | 502,228 | |
Intel Corp. | 81,596 | 4,580,799 | |
KLA Corp. | 3,089 | 1,001,485 | |
Lam Research Corp. | 2,878 | 1,872,714 | |
Maxim Integrated Products, Inc.* | 5,477 | 577,057 | |
Microchip Technology, Inc. | 5,497 | 823,121 | |
Micron Technology, Inc.* | 22,715 | 1,930,321 | |
Monolithic Power Systems, Inc. | 862 | 321,914 | |
NVIDIA Corp. | 12,586 | 10,070,058 | |
NXP Semiconductors NV | 5,600 | 1,152,032 | |
Qorvo, Inc.* | 2,295 | 449,017 | |
QUALCOMM, Inc. | 22,787 | 3,256,946 | |
Skyworks Solutions, Inc. | 3,329 | 638,336 | |
Teradyne, Inc. | 3,378 | 452,517 | |
Texas Instruments, Inc. | 18,690 | 3,594,087 | |
Xilinx, Inc.* | 4,987 | 721,319 | |
42,095,758 | |||
Software 8.8% | |||
Adobe, Inc.* | 9,648 | 5,650,255 | |
ANSYS, Inc.* | 1,760 | 610,826 | |
Autodesk, Inc.* | 4,438 | 1,295,452 | |
Cadence Design Systems, Inc.* | 5,672 | 776,043 | |
Citrix Systems, Inc. | 2,546 | 298,569 | |
Fortinet, Inc.* | 2,761 | 657,643 | |
Intuit, Inc. | 5,514 | 2,702,797 | |
Microsoft Corp. | 152,185 | 41,226,917 | |
NortonLifeLock, Inc. | 11,679 | 317,902 | |
Oracle Corp. | 36,697 | 2,856,494 | |
Paycom Software, Inc.* | 1,011 | 367,468 | |
PTC, Inc.* | 2,169 | 306,393 | |
salesforce.com, Inc.* | 18,706 | 4,569,315 | |
ServiceNow, Inc.* | 3,981 | 2,187,759 | |
Synopsys, Inc.* | 3,102 | 855,501 | |
Tyler Technologies, Inc.* | 831 | 375,919 | |
65,055,253 | |||
Technology Hardware, Storage & Peripherals 6.1% | |||
Apple, Inc. | 316,959 | 43,410,704 | |
Hewlett Packard Enterprise Co. | 26,429 | 385,335 | |
HP, Inc. | 24,249 | 732,077 | |
NetApp, Inc. | 4,460 | 364,917 | |
Seagate Technology Holdings PLC | 4,005 | 352,160 |
Shares | Value ($) | ||
Western Digital Corp.* | 6,252 | 444,955 | |
45,690,148 | |||
Materials 2.6% | |||
Chemicals 1.8% | |||
Air Products & Chemicals, Inc. | 4,473 | 1,286,793 | |
Albemarle Corp. | 2,377 | 400,429 | |
Celanese Corp. | 2,252 | 341,403 | |
CF Industries Holdings, Inc. | 4,247 | 218,508 | |
Corteva, Inc. | 14,856 | 658,864 | |
Dow, Inc. | 15,153 | 958,882 | |
DuPont de Nemours, Inc. | 10,756 | 832,622 | |
Eastman Chemical Co. | 2,785 | 325,149 | |
Ecolab, Inc. | 5,054 | 1,040,972 | |
FMC Corp. | 2,634 | 284,999 | |
International Flavors & Fragrances, Inc. | 5,025 | 750,735 | |
Linde PLC | 10,509 | 3,038,152 | |
LyondellBasell Industries NV "A" | 5,177 | 532,557 | |
PPG Industries, Inc. | 4,806 | 815,915 | |
Sherwin-Williams Co. | 4,836 | 1,317,568 | |
The Mosaic Co. | 6,962 | 222,157 | |
13,025,705 | |||
Construction Materials 0.1% | |||
Martin Marietta Materials, Inc. | 1,277 | 449,261 | |
Vulcan Materials Co. | 2,679 | 466,334 | |
915,595 | |||
Containers & Packaging 0.3% | |||
Amcor PLC | 31,520 | 361,219 | |
Avery Dennison Corp. | 1,653 | 347,527 | |
Ball Corp. | 6,694 | 542,348 | |
International Paper Co. | 7,871 | 482,571 | |
Packaging Corp. of America | 1,882 | 254,861 | |
Sealed Air Corp. | 3,029 | 179,468 | |
Westrock Co. | 5,361 | 285,312 | |
2,453,306 | |||
Metals & Mining 0.4% | |||
Freeport-McMoRan, Inc. | 29,688 | 1,101,722 | |
Newmont Corp. | 16,194 | 1,026,376 | |
Nucor Corp. | 6,107 | 585,844 | |
2,713,942 | |||
Real Estate 2.5% | |||
Equity Real Estate Investment Trusts (REITs) 2.4% | |||
Alexandria Real Estate Equities, Inc. | 2,757 | 501,609 | |
American Tower Corp. | 9,204 | 2,486,369 | |
AvalonBay Communities, Inc. | 2,795 | 583,289 | |
Boston Properties, Inc. | 2,905 | 332,884 | |
Crown Castle International Corp. | 8,720 | 1,701,272 | |
Digital Realty Trust, Inc. | 5,669 | 852,958 |
10 | | DWS Equity 500 Index VIP |
Shares | Value ($) | ||
Duke Realty Corp. | 7,634 | 361,470 | |
Equinix, Inc. | 1,807 | 1,450,298 | |
Equity Residential | 6,864 | 528,528 | |
Essex Property Trust, Inc. | 1,304 | 391,213 | |
Extra Space Storage, Inc. | 2,729 | 447,065 | |
Federal Realty Investment Trust | 1,455 | 170,482 | |
Healthpeak Properties, Inc. | 10,946 | 364,392 | |
Host Hotels & Resorts, Inc. * | 14,645 | 250,283 | |
Iron Mountain, Inc. (a) | 5,940 | 251,381 | |
Kimco Realty Corp. | 8,970 | 187,025 | |
Mid-America Apartment Communities, Inc. | 2,326 | 391,745 | |
Prologis, Inc. | 14,925 | 1,783,985 | |
Public Storage | 3,090 | 929,132 | |
Realty Income Corp. | 7,503 | 500,750 | |
Regency Centers Corp. | 3,163 | 202,653 | |
SBA Communications Corp. | 2,192 | 698,590 | |
Simon Property Group, Inc. | 6,628 | 864,822 | |
UDR, Inc. | 5,915 | 289,717 | |
Ventas, Inc. | 7,513 | 428,992 | |
Vornado Realty Trust | 3,281 | 153,124 | |
Welltower, Inc. | 8,404 | 698,372 | |
Weyerhaeuser Co. | 15,019 | 516,954 | |
18,319,354 | |||
Real Estate Management & Development 0.1% | |||
CBRE Group, Inc. "A"* | 6,813 | 584,078 | |
Utilities 2.4% | |||
Electric Utilities 1.5% | |||
Alliant Energy Corp. | 5,122 | 285,603 | |
American Electric Power Co., Inc. | 10,156 | 859,096 | |
Duke Energy Corp. | 15,586 | 1,538,650 | |
Edison International | 7,602 | 439,548 | |
Entergy Corp. | 4,011 | 399,897 | |
Evergy, Inc. | 4,597 | 277,797 | |
Eversource Energy | 6,915 | 554,860 | |
Exelon Corp. | 19,726 | 874,059 | |
FirstEnergy Corp. | 10,977 | 408,454 | |
NextEra Energy, Inc. | 39,595 | 2,901,521 | |
NRG Energy, Inc. | 4,826 | 194,488 | |
Pinnacle West Capital Corp. | 2,254 | 184,760 | |
PPL Corp. | 15,777 | 441,283 | |
Southern Co. | 21,387 | 1,294,127 | |
Xcel Energy, Inc. | 10,930 | 720,068 | |
11,374,211 | |||
Gas Utilities 0.0% | |||
Atmos Energy Corp. | 2,617 | 251,520 | |
Independent Power & Renewable Electricity Producers 0.1% | |||
AES Corp. | 13,710 | 357,420 |
Shares | Value ($) | ||
Multi-Utilities 0.7% | |||
Ameren Corp. | 5,201 | 416,288 | |
CenterPoint Energy, Inc. | 11,667 | 286,075 | |
CMS Energy Corp. | 5,802 | 342,782 | |
Consolidated Edison, Inc. | 6,888 | 494,007 | |
Dominion Energy, Inc. | 16,250 | 1,195,512 | |
DTE Energy Co. | 3,962 | 513,475 | |
NiSource, Inc. | 8,023 | 196,564 | |
Public Service Enterprise Group, Inc. | 10,278 | 614,008 | |
Sempra Energy | 6,352 | 841,513 | |
WEC Energy Group, Inc. | 6,363 | 565,989 | |
5,466,213 | |||
Water Utilities 0.1% | |||
American Water Works Co., Inc. | 3,649 | 562,420 | |
Total Common Stocks (Cost $259,827,563) | 734,031,931 |
Principal Amount ($) | Value ($) | ||
Government & Agency Obligations 0.1% | |||
U.S. Treasury Obligations | |||
U.S. Treasury Bills, 0.098% (b), 7/15/2021 (c) (Cost $924,978) | 925,000 | 924,984 |
Shares | Value ($) | ||
Securities Lending Collateral 0.4% | |||
DWS Government & Agency Securities Portfolio "DWS Government Cash Institutional Shares", 0.01% (d) (e) (Cost $3,114,343) | 3,114,343 | 3,114,343 | |
Cash Equivalents 0.9% | |||
DWS Central Cash Management Government Fund, 0.02% (d) (Cost $6,316,333) | 6,316,333 | 6,316,333 |
% of Net Assets | Value ($) | ||
Total Investment Portfolio (Cost $270,183,217) | 100.4 | 744,387,591 | |
Other Assets and Liabilities, Net | (0.4) | (3,003,287) | |
Net Assets | 100.0 | 741,384,304 |
DWS Equity 500 Index VIP | | 11 |
Value ($) at 12/31/2020 | Purchases Cost ($) | Sales Proceeds ($) | Net Realized Gain/ (Loss) ($) | Net Change in Unrealized Appreciation (Depreciation) ($) | Income ($) | Capital Gain Distributions ($) | Number of Shares at 6/30/2021 | Value ($) at 6/30/2021 |
Securities Lending Collateral 0.4% | ||||||||
DWS Government & Agency Securities Portfolio "DWS Government Cash Institutional Shares", 0.01% (d) (e) | ||||||||
19,765,158 | — | 16,650,815 (f) | — | — | 3,001 | — | 3,114,343 | 3,114,343 |
Cash Equivalents 0.9% | ||||||||
DWS Central Cash Management Government Fund, 0.02% (d) | ||||||||
6,798,528 | 31,563,910 | 32,046,105 | — | — | 943 | — | 6,316,333 | 6,316,333 |
26,563,686 | 31,563,910 | 48,696,920 | — | — | 3,944 | — | 9,430,676 | 9,430,676 |
* | Non-income producing security. |
(a) | All or a portion of these securities were on loan. In addition, "Other Assets and Liabilities, Net" may include pending sales that are also on loan. The value of securities loaned at June 30, 2021 amounted to $3,031,312, which is 0.4% of net assets. |
(b) | Annualized yield at time of purchase; not a coupon rate. |
(c) | At June 30, 2021, this security has been pledged, in whole or in part, to cover initial margin requirements for open futures contracts. |
(d) | Affiliated fund managed by DWS Investment Management Americas, Inc. The rate shown is the annualized seven-day yield at period end. |
(e) | Represents cash collateral held in connection with securities lending. Income earned by the Fund is net of borrower rebates. |
(f) | Represents the net increase (purchase cost) or decrease (sales proceeds) in the amount invested in cash collateral for the period ended June 30, 2021. |
S& P: Standard & Poor's |
Futures | Currency | Expiration Date | Contracts | Notional Amount ($) | Notional Value ($) | Unrealized Appreciation ($) |
S&P 500 E-Mini Index | USD | 9/17/2021 | 34 | 7,138,822 | 7,290,620 | 151,798 |
USD | United States Dollar |
Assets | Level 1 | Level 2 | Level 3 | Total |
Common Stocks (a) | $ 734,031,931 | $ — | $ — | $ 734,031,931 |
Government & Agency Obligations | — | 924,984 | — | 924,984 |
Short-Term Investments (a) | 9,430,676 | — | — | 9,430,676 |
Derivatives (b) | ||||
Futures Contracts | 151,798 | — | — | 151,798 |
Total | $ 743,614,405 | $924,984 | $ — | $ 744,539,389 |
(a) | See Investment Portfolio for additional detailed categorizations. |
(b) | Derivatives include unrealized appreciation (depreciation) on open futures contracts. |
12 | | DWS Equity 500 Index VIP |
Assets | |
Investments in non-affiliated securities, at value (cost $260,752,541) — including $3,031,312 of securities loaned | $ 734,956,915 |
Investment in DWS Government & Agency Securities Portfolio (cost $3,114,343)* | 3,114,343 |
Investment in DWS Central Cash Management Government Fund (cost $6,316,333) | 6,316,333 |
Cash | 10,670 |
Receivable for Fund shares sold | 90,642 |
Dividends receivable | 426,820 |
Interest receivable | 445 |
Receivable for variation margin on futures contracts | 11,256 |
Other assets | 6,500 |
Total assets | 744,933,924 |
Liabilities | |
Payable upon return of securities loaned | 3,114,343 |
Payable for Fund shares redeemed | 204,588 |
Accrued management fee | 78,824 |
Accrued Trustees' fees | 3,514 |
Other accrued expenses and payables | 148,351 |
Total liabilities | 3,549,620 |
Net assets, at value | $ 741,384,304 |
Net Assets Consist of | |
Distributable earnings (loss) | 485,814,195 |
Paid-in capital | 255,570,109 |
Net assets, at value | $ 741,384,304 |
Net Asset Value | |
Class A | |
Net Asset Value, offering and redemption price per share ($673,257,196 ÷ 24,852,265 outstanding shares of beneficial interest, $.001 par value, unlimited number of shares authorized) | $ 27.09 |
Class B | |
Net Asset Value, offering and redemption price per share ($48,766,912 ÷ 1,797,453 outstanding shares of beneficial interest, $.001 par value, unlimited number of shares authorized) | $ 27.13 |
Class B2 | |
Net Asset Value, offering and redemption price per share ($19,360,196 ÷ 712,884 outstanding shares of beneficial interest, $.001 par value, unlimited number of shares authorized) | $ 27.16 |
* | Represents collateral on securities loaned. |
Investment Income | |
Income: | |
Dividends (net of foreign taxes withheld of $473) | $ 4,350,443 |
Interest | 314 |
Income distributions — DWS Central Cash Management Government Fund | 943 |
Securities lending income, net of borrower rebates | 3,001 |
Total income | 4,354,701 |
Expenses: | |
Management fee | 695,038 |
Administration fee | 337,093 |
Services to shareholders | 802 |
Record keeping fee (Class B and Class B-2) | 42,582 |
Distribution service fees (Class B and Class B-2) | 78,156 |
Custodian fee | 5,951 |
Professional fees | 35,705 |
Reports to shareholders | 26,038 |
Trustees' fees and expenses | 15,521 |
Other | 16,908 |
Total expenses before expense reductions | 1,253,794 |
Expense reductions | (229,014) |
Total expenses after expense reductions | 1,024,780 |
Net investment income | 3,329,921 |
Realized and Unrealized Gain (Loss) | |
Net realized gain (loss) from: | |
Investments | 16,196,840 |
Futures | 1,153,837 |
17,350,677 | |
Change in net unrealized appreciation (depreciation) on: | |
Investments | 77,992,631 |
Futures | (34,594) |
77,958,037 | |
Net gain (loss) | 95,308,714 |
Net increase (decrease) in net assets resulting from operations | $98,638,635 |
DWS Equity 500 Index VIP | | 13 |
Increase (Decrease) in Net Assets | Six Months Ended June 30, 2021 (Unaudited) | Year Ended December 31, 2020 |
Operations: | ||
Net investment income | $ 3,329,921 | $ 8,923,631 |
Net realized gain (loss) | 17,350,677 | 31,108,402 |
Change in net unrealized appreciation (depreciation) | 77,958,037 | 61,784,594 |
Net increase (decrease) in net assets resulting from operations | 98,638,635 | 101,816,627 |
Distributions to shareholders: | ||
Class A | (37,893,566) | (40,621,912) |
Class B | (2,473,191) | (2,466,115) |
Class B2 | (1,024,797) | (1,183,053) |
Total distributions | (41,391,554) | (44,271,080) |
Fund share transactions: | ||
Class A | ||
Proceeds from shares sold | 11,369,480 | 19,014,191 |
Reinvestment of distributions | 37,893,566 | 40,621,912 |
Payments for shares redeemed | (34,686,808) | (66,299,729) |
Net increase (decrease) in net assets from Class A share transactions | 14,576,238 | (6,663,626) |
Class B | ||
Proceeds from shares sold | 5,598,788 | 8,754,512 |
Reinvestment of distributions | 2,473,191 | 2,466,115 |
Payments for shares redeemed | (4,783,733) | (6,399,660) |
Net increase (decrease) in net assets from Class B share transactions | 3,288,246 | 4,820,967 |
Class B2 | ||
Proceeds from shares sold | 5,448 | 198,779 |
Reinvestment of distributions | 1,024,797 | 1,183,053 |
Payments for shares redeemed | (1,519,323) | (1,848,331) |
Net increase (decrease) in net assets from Class B2 share transactions | (489,078) | (466,499) |
Increase (decrease) in net assets | 74,622,487 | 55,236,389 |
Net assets at beginning of period | 666,761,817 | 611,525,428 |
Net assets at end of period | $741,384,304 | $666,761,817 |
14 | | DWS Equity 500 Index VIP |
Other Information | Six Months Ended June 30, 2021 (Unaudited) | Year Ended December 31, 2020 |
Class A | ||
Shares outstanding at beginning of period | 24,298,803 | 24,258,385 |
Shares sold | 437,492 | 919,928 |
Shares issued to shareholders in reinvestment of distributions | 1,439,178 | 2,207,713 |
Shares redeemed | (1,323,208) | (3,087,223) |
Net increase (decrease) in Class A shares | 553,462 | 40,418 |
Shares outstanding at end of period | 24,852,265 | 24,298,803 |
Class B | ||
Shares outstanding at beginning of period | 1,675,259 | 1,426,637 |
Shares sold | 213,350 | 403,823 |
Shares issued to shareholders in reinvestment of distributions | 93,717 | 133,737 |
Shares redeemed | (184,873) | (288,938) |
Net increase (decrease) in Class B shares | 122,194 | 248,622 |
Shares outstanding at end of period | 1,797,453 | 1,675,259 |
Class B2 | ||
Shares outstanding at beginning of period | 730,615 | 742,685 |
Shares sold | 208 | 9,662 |
Shares issued to shareholders in reinvestment of distributions | 38,789 | 64,087 |
Shares redeemed | (56,728) | (85,819) |
Net increase (decrease) in Class B2 shares | (17,731) | (12,070) |
Shares outstanding at end of period | 712,884 | 730,615 |
DWS Equity 500 Index VIP | | 15 |
DWS Equity 500 Index VIP — Class A | ||||||
Six Months Ended 6/30/21 | Years Ended December 31, | |||||
(Unaudited) | 2020 | 2019 | 2018 | 2017 | 2016 | |
Selected Per Share Data | ||||||
Net asset value, beginning of period | $24.97 | $23.14 | $18.90 | $22.19 | $19.58 | $19.40 |
Income (loss) from investment operations: | ||||||
Net investment incomea | .13 | .34 | .35 | .37 | .34 | .35 |
Net realized and unrealized gain (loss) | 3.60 | 3.23 | 5.37 | (1.31) | 3.69 | 1.74 |
Total from investment operations | 3.73 | 3.57 | 5.72 | (.94) | 4.03 | 2.09 |
Less distributions from: | ||||||
Net investment income | (.41) | (.39) | (.43) | (.38) | (.37) | (.40) |
Net realized gains | (1.20) | (1.35) | (1.05) | (1.97) | (1.05) | (1.51) |
Total distributions | (1.61) | (1.74) | (1.48) | (2.35) | (1.42) | (1.91) |
Net asset value, end of period | $27.09 | $24.97 | $23.14 | $18.90 | $22.19 | $19.58 |
Total Return (%)b | 15.10 * | 18.10 | 31.19 | (4.65) | 21.53 | 11.61 |
Ratios to Average Net Assets and Supplemental Data | ||||||
Net assets, end of period ($ millions) | 673 | 607 | 561 | 472 | 541 | 519 |
Ratio of expenses before expense reductions (%)c | .33 ** | .33 | .35 | .34 | .34 | .34 |
Ratio of expenses after expense reductions (%)c | .26 ** | .26 | .27 | .30 | .33 | .33 |
Ratio of net investment income (%) | .99 ** | 1.56 | 1.68 | 1.73 | 1.67 | 1.88 |
Portfolio turnover rate (%) | 1 * | 4 | 3 | 3 | 3 | 4 |
a | Based on average shares outstanding during the period. |
b | Total return would have been lower had certain expenses not been reduced. |
c | Expense ratio does not reflect charges and fees associated with the separate account that invests in the Fund or any variable life insurance policy or variable annuity contract for which the Fund is an investment option. |
* | Not annualized |
** | Annualized |
16 | | DWS Equity 500 Index VIP |
DWS Equity 500 Index VIP — Class B | ||||||
Six Months Ended 6/30/21 | Years Ended December 31, | |||||
(Unaudited) | 2020 | 2019 | 2018 | 2017 | 2016 | |
Selected Per Share Data | ||||||
Net asset value, beginning of period | $24.95 | $23.12 | $18.89 | $22.17 | $19.58 | $19.40 |
Income (loss) from investment operations: | ||||||
Net investment incomea | .08 | .26 | .28 | .29 | .28 | .30 |
Net realized and unrealized gain (loss) | 3.60 | 3.23 | 5.35 | (1.29) | 3.67 | 1.74 |
Total from investment operations | 3.68 | 3.49 | 5.63 | (1.00) | 3.95 | 2.04 |
Less distributions from: | ||||||
Net investment income | (.30) | (.31) | (.35) | (.31) | (.31) | (.35) |
Net realized gains | (1.20) | (1.35) | (1.05) | (1.97) | (1.05) | (1.51) |
Total distributions | (1.50) | (1.66) | (1.40) | (2.28) | (1.36) | (1.86) |
Net asset value, end of period | $27.13 | $24.95 | $23.12 | $18.89 | $22.17 | $19.58 |
Total Return (%)b | 14.91 * | 17.63 | 30.66 | (4.94) | 21.07 | 11.32 |
Ratios to Average Net Assets and Supplemental Data | ||||||
Net assets, end of period ($ millions) | 49 | 42 | 33 | 21 | 25 | 18 |
Ratio of expenses before expense reductions (%)c | .71 ** | .71 | .72 | .71 | .71 | .69 |
Ratio of expenses after expense reductions (%)c | .64 ** | .64 | .65 | .65 | .65 | .61 |
Ratio of net investment income (%) | .61 ** | 1.17 | 1.31 | 1.38 | 1.35 | 1.61 |
Portfolio turnover rate (%) | 1 * | 4 | 3 | 3 | 3 | 4 |
a | Based on average shares outstanding during the period. |
b | Total return would have been lower had certain expenses not been reduced. |
c | Expense ratio does not reflect charges and fees associated with the separate account that invests in the Fund or any variable life insurance policy or variable annuity contract for which the Fund is an investment option. |
* | Not annualized |
** | Annualized |
DWS Equity 500 Index VIP | | 17 |
DWS Equity 500 Index VIP — Class B2 | ||||||
Six Months Ended 6/30/21 | Years Ended December 31, | |||||
(Unaudited) | 2020 | 2019 | 2018 | 2017 | 2016 | |
Selected Per Share Data | ||||||
Net asset value, beginning of period | $24.98 | $23.14 | $18.90 | $22.18 | $19.57 | $19.39 |
Income (loss) from investment operations: | ||||||
Net investment incomea | .08 | .25 | .27 | .28 | .26 | .28 |
Net realized and unrealized gain (loss) | 3.60 | 3.24 | 5.36 | (1.30) | 3.69 | 1.74 |
Total from investment operations | 3.68 | 3.49 | 5.63 | (1.02) | 3.95 | 2.02 |
Less distributions from: | ||||||
Net investment income | (.30) | (.30) | (.34) | (.29) | (.29) | (.33) |
Net realized gains | (1.20) | (1.35) | (1.05) | (1.97) | (1.05) | (1.51) |
Total distributions | (1.50) | (1.65) | (1.39) | (2.26) | (1.34) | (1.84) |
Net asset value, end of period | $27.16 | $24.98 | $23.14 | $18.90 | $22.18 | $19.57 |
Total Return (%)b | 14.88 * | 17.64 | 30.64 | (5.00) | 21.06 | 11.20 |
Ratios to Average Net Assets and Supplemental Data | ||||||
Net assets, end of period ($ millions) | 19 | 18 | 17 | 15 | 17 | 17 |
Ratio of expenses before expense reductions (%)c | .72 ** | .72 | .74 | .73 | .74 | .74 |
Ratio of expenses after expense reductions (%)c | .65 ** | .65 | .67 | .70 | .72 | .71 |
Ratio of net investment income (%) | .60 ** | 1.17 | 1.28 | 1.32 | 1.27 | 1.50 |
Portfolio turnover rate (%) | 1 * | 4 | 3 | 3 | 3 | 4 |
a | Based on average shares outstanding during the period. |
b | Total return would have been lower had certain expenses not been reduced. |
c | Expense ratio does not reflect charges and fees associated with the separate account that invests in the Fund or any variable life insurance policy or variable annuity contract for which the Fund is an investment option. |
* | Not annualized |
** | Annualized |
18 | | DWS Equity 500 Index VIP |
Notes to Financial Statements | (Unaudited) |
A. Organization and Significant Accounting Policies |
DWS Equity 500 Index VIP | | 19 |
20 | | DWS Equity 500 Index VIP |
B. | Derivative Instruments |
Assets Derivative | Futures Contracts |
Equity Contracts (a) | $ 151,798 |
The above derivative is located in the following Statement of Assets and Liabilities account: |
(a) | Includes cumulative appreciation of futures contracts as disclosed in the Investment Portfolio. Unsettled variation margin is disclosed separately within the Statement of Assets and Liabilities. |
DWS Equity 500 Index VIP | | 21 |
Realized Gain (Loss) | Futures Contracts |
Equity Contracts (a) | $ 1,153,837 |
The above derivative is located in the following Statement of Operations account: |
(a) | Net realized gain (loss) from futures |
Change in Net Unrealized Appreciation (Depreciation) | Futures Contracts |
Equity Contracts (a) | $ (34,594) |
The above derivative is located in the following Statement of Operations account: |
(a) | Change in net unrealized appreciation (depreciation) on futures |
C. | Purchases and Sales of Securities |
D. | Related Parties |
First $1 billion of the Fund’s average daily net assets | .200% |
Next $1 billion of such net assets | .175% |
Over $2 billion of such net assets | .150% |
Class A | .26% |
Class B | .64% |
Class B2 | .66% |
22 | | DWS Equity 500 Index VIP |
Class A | $ 208,439 |
Class B | 14,437 |
Class B2 | 6,138 |
$ 229,014 |
Distribution Service Fees | Total Aggregated | Unpaid at June 30, 2021 |
Class B | $ 54,839 | $ 9,860 |
Class B2 | 23,317 | 3,928 |
$ 78,156 | $ 13,788 |
Services to Shareholders | Total Aggregated | Unpaid at June 30, 2021 |
Class A | $ 287 | $ 89 |
Class B | 50 | 15 |
Class B2 | 34 | 11 |
$ 371 | $ 115 |
DWS Equity 500 Index VIP | | 23 |
E. | Line of Credit |
F. | Ownership of the Fund |
G. | Other — COVID-19 Pandemic |
24 | | DWS Equity 500 Index VIP |
Information About Your Fund’s Expenses | (Unaudited) |
— | Actual Fund Return. This helps you estimate the actual dollar amount of ongoing expenses (but not transaction costs) paid on a $1,000 investment in the Fund using the Fund’s actual return during the period. To estimate the expenses you paid over the period, simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the “Expenses Paid per $1,000” line under the share class you hold. |
— | Hypothetical 5% Fund Return. This helps you to compare your Fund’s ongoing expenses (but not transaction costs) with those of other mutual funds using the Fund’s actual expense ratio and a hypothetical rate of return of 5% per year before expenses. Examples using a 5% hypothetical fund return may be found in the shareholder reports of other mutual funds. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. |
Actual Fund Return | Class A | Class B | Class B2 |
Beginning Account Value 1/1/21 | $ 1,000.00 | $ 1,000.00 | $ 1,000.00 |
Ending Account Value 6/30/21 | $ 1,151.00 | $ 1,149.10 | $ 1,148.80 |
Expenses Paid per $1,000* | $ 1.39 | $ 3.41 | $ 3.46 |
Hypothetical 5% Fund Return | Class A | Class B | Class B2 |
Beginning Account Value 1/1/21 | $ 1,000.00 | $ 1,000.00 | $ 1,000.00 |
Ending Account Value 6/30/21 | $ 1,023.51 | $ 1,021.62 | $ 1,021.57 |
Expenses Paid per $1,000* | $ 1.30 | $ 3.21 | $ 3.26 |
* | Expenses are equal to the Fund's annualized expense ratio for each share class, multiplied by the average account value over the period, multiplied by 181 (the number of days in the most recent six-month period), then divided by 365. |
Annualized Expense Ratios | Class A | Class B | Class B2 |
DWS Equity 500 Index VIP | .26% | .64% | .65% |
DWS Equity 500 Index VIP | | 25 |
26 | | DWS Equity 500 Index VIP |
— | During the entire process, all of the Fund’s Trustees were independent of DIMA and its affiliates (the “Independent Trustees”). |
— | The Board met frequently during the past year to discuss fund matters and dedicated a substantial amount of time to contract review matters. Over the course of several months, the Board reviewed extensive materials received from DIMA, independent third parties and independent counsel. These materials included an analysis of the Fund’s performance, fees and expenses, and profitability from a fee consultant retained by the Fund’s Independent Trustees (the “Fee Consultant”). |
— | The Board also received extensive information throughout the year regarding performance of the Fund. |
— | The Independent Trustees regularly met privately with counsel to discuss contract review and other matters. In addition, the Independent Trustees were advised by the Fee Consultant in the course of their review of the Fund’s contractual arrangements and considered a comprehensive report prepared by the Fee Consultant in connection with their deliberations. |
— | In connection with reviewing the Agreements, the Board also reviewed the terms of the Fund's Rule 12b-1 plan, distribution agreement, administrative services agreement, transfer agency agreement and other material service agreements. |
DWS Equity 500 Index VIP | | 27 |
28 | | DWS Equity 500 Index VIP |
DWS Equity 500 Index VIP | | 29 |
(b) Not applicable | |
ITEM 2. | CODE OF ETHICS |
Not applicable. | |
ITEM 3. | AUDIT COMMITTEE FINANCIAL EXPERT |
Not applicable | |
ITEM 4. | PRINCIPAL ACCOUNTANT FEES AND SERVICES |
Not applicable | |
ITEM 5. | AUDIT COMMITTEE OF LISTED REGISTRANTS |
Not applicable | |
ITEM 6. | SCHEDULE OF INVESTMENTS |
Not applicable | |
ITEM 7. | DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES | |
Not applicable | ||
ITEM 8. | PORTFOLIO MANAGERS OF CLOSED-END MANAGEMENT INVESTMENT COMPANIES | |
Not applicable | ||
ITEM 9. | PURCHASES OF EQUITY SECURITIES BY CLOSED-END MANAGEMENT INVESTMENT COMPANY AND AFFILIATED PURCHASERS | |
Not applicable | ||
ITEM 10. | SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS | |
There were no material changes to the procedures by which shareholders may recommend nominees to the Fund’s Board. The primary function of the Nominating and Governance Committee is to identify and recommend individuals for membership on the Board and oversee the administration of the Board Governance Guidelines. Shareholders may recommend candidates for Board positions by forwarding their correspondence by U.S. mail or courier service to Keith R. Fox, DWS Funds Board Chair, c/o Thomas R. Hiller, Ropes & Gray LLP, Prudential Tower, 800 Boylston Street, Boston, MA 02199-3600. | ||
ITEM 11. | CONTROLS AND PROCEDURES | |
(a) | The Chief Executive and Financial Officers concluded that the Registrant’s Disclosure Controls and Procedures are effective based on the evaluation of the Disclosure Controls and Procedures as of a date within 90 days of the filing date of this report. | |
(b) | There have been no changes in the registrant’s internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal controls over financial reporting. | |
ITEM 12. | Disclosure of Securities Lending Activities for Closed-End Management Investment Companies. | |
Not applicable | ||
ITEM 13. | EXHIBITS | |
(a)(1) | Not applicable | |
(a)(2) | Certification pursuant to Rule 30a-2(a) under the Investment Company Act of 1940 (17 CFR 270.30a-2(a)) is filed and attached hereto as Exhibit 99.CERT. | |
(b) | Certification pursuant to Rule 30a-2(b) under the Investment Company Act of 1940 (17 CFR 270.30a-2(b)) is furnished and attached hereto as Exhibit 99.906CERT. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Registrant: | DWS Equity 500 Index VIP, a series of Deutsche DWS Investments VIT Funds |
By: | /s/Hepsen Uzcan Hepsen Uzcan President |
Date: | 8/13/2021 |
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By: | /s/Hepsen Uzcan Hepsen Uzcan President |
Date: | 8/13/2021 |
By: | /s/Diane Kenneally Diane Kenneally Chief Financial Officer and Treasurer |
Date: | 8/13/2021 |