VIT Global Technology Portfolio

Investing in Companies that Benefit from Technology Innovation
NAV As of 08/16/19 $13.14

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Fund Facts

Details Performance (As of 08/16/19) Morningstar (As of 07/31/19)
01/18/00 Inception Date
$496.33M Total Net Assets (As of 07/31/19)
GROSS 1.00%
NET 1.00%
Annual Expense Ratio
(As of fiscal year end 12/31/18)
1.78% 1 Day Return
26.61% YTD Return
Category
Technology
ic_star ic_star ic_star ic_star
190 Funds Rated
Overall Rating
(Based on risk-adjusted returns)
LARGE VALUE
LARGE BLEND
LARGE GROWTH
MID VALUE
MID BLEND
MID GROWTH
SMALL VALUE
SMALL BLEND
SMALL GROWTH
Equity Style Box *
Important Morningstar Information

Overview

Client Commitment

This global growth portfolio invests in companies that create and benefit from advances in technology. We invest in companies we believe to be resilient and also take smaller positions in companies that have optionality—meaning large potential upside under a specific scenario. The Portfolio seeks to provide strong long-term returns with volatility characteristics on par with its peers.

Why Invest in the Portfolio

    Finding Growth Through Innovation

  1. Technology is dramatically impacting every sector of the global economy. The Portfolio seeks to invest in growth companies driving this innovation or benefiting from advances in technology. Common characteristics of an investment include a culture of innovation, long-term focus and attractive relative valuation.
  2. Dedicated Sector Experts

  3. Our dedicated team of technology analysts is embedded deeply within the sector, approaching research as an industry participant. In this complex and rapidly growing sector, it is critical to have experienced investors working to evaluate the impact of disruptive technologies and actively aim to identify both winners and losers.
  4. Deep and Disciplined

  5. The Portfolio takes a thoughtful approach to portfolio construction as the managers invest in companies believed to be resilient, as well as smaller positions in companies that have optionality—meaning large potential upside under a specific scenario. Through deep research and disciplined portfolio construction, the portfolio seeks to deliver strong, risk-adjusted returns over time.

Featured Insights

Performance

RETURNS

(As of 06/30/2019)
(As of 07/31/2019)
Inception: Jan 18, 2000 3M YTD 1YR 3YR 5YR 10YR Since Inception
VIT Global Technology Portfolio – SS Shares 5.04% 27.38% 12.95% 27.55% 18.24% 18.62% 3.78%
S&P 500® Index 4.30% 18.54% 10.42% 14.19% 10.71% 14.70% 5.72%
MSCI All Country World Information Technology Index 5.22% 25.01% 9.88% 23.38% 15.48% 16.03% -
Inception: Jan 18, 2000 3M YTD 1YR 3YR 5YR 10YR Since Inception
VIT Global Technology Portfolio – SS Shares 1.38% 30.46% 13.70% 25.16% 19.27% 18.03% 3.89%
S&P 500® Index 1.69% 20.24% 7.99% 13.36% 11.34% 14.03% 5.77%
MSCI All Country World Information Technology Index 1.95% 28.50% 11.17% 21.42% 15.89% 15.27% -
Returns quoted are past performance and do not guarantee future results; current performance may be lower or higher. Investment returns and principal value will vary; there may be a gain or loss when shares are sold.
View Fees and Expenses

MORNINGSTAR PERCENTILE

(As of 06/30/2019)
(As of 07/31/2019)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking (%) 27 14 20 35 44
Technology Category
Rank/Count
56/231 28/201 32/190 52/181 64/115
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking (%) 32 19 21 32 44
Technology Category
Rank/Count
80/233 38/202 33/190 46/181 64/115

CALENDAR YEAR PERFORMANCE

GROWTH OF A $10,000 HYPOTHETICAL INVESTMENT

Source: Morningstar, Inc.
This graph compares fund performance to that of the fund’s Morningstar category average and benchmark(s).

RETURNS-BASED STATISTICS

(As of 07/31/19 INST SHARES)

RISK / REWARD
VS. MSCI ALL COUNTRY WORLD INFORMATION TECHNOLOGY INDEX

3 YEAR 5 YEAR
Information Ratio 1.00 0.90
Alpha 3.63 3.22
Tracking Error 4.08 4.14
Beta 0.99 1.01
R-Squared (%) 93.08 93.30

UP AND DOWN MARKET CAPTURE (%)
VS. MSCI ALL COUNTRY WORLD INFORMATION TECHNOLOGY INDEX

3 YEAR 5 YEAR
Up Capture Ratio 102.41 106.02
Down Capture Ratio 79.83 89.38

STANDARD DEVIATION

3 YEAR 5 YEAR
VIT Global Technology Portfolio 15.49 15.98
MSCI All Country World Information Technology Index 15.07 15.32

SHARPE RATIO

3 YEAR 5 YEAR
VIT Global Technology Portfolio 1.55 1.17
MSCI All Country World Information Technology Index 1.33 0.98

ANNUAL FEES & EXPENSES

(As of Fiscal Year End, 12/31/18)

SERVICE SHARES
Management Fees 0.64%
12b-1 Fees 0.25%
Other Expenses 0.11%
Total Gross Expenses 1.00%
Waivers 0.00%
Total Net Expenses 1.00%
Net expense ratios reflect the expense waiver, if any, contractually agreed to through 5/1/20.

Characteristics

Index represents the MSCI All Country World Information Technology Index℠.

TOP HOLDINGS

(As of 07/31/2019)

% of Portfolio
Microsoft Corp 7.87
Amazon.com Inc 4.14
Adobe Inc 4.00
Alibaba Group Holding Ltd (ADR) 3.89
salesforce.com Inc 3.88
Texas Instruments Inc 3.58
Mastercard Inc 3.46
ASML Holding NV 3.03
Taiwan Semiconductor Manufacturing Co Ltd 2.96
Tencent Holdings Ltd 2.42
TOTAL 39.23

PORTFOLIO CHARACTERISTICS

(As of 07/31/19)

PORTFOLIO INDEX
Number of Holdings
Equity Issues
72
264
Market Capitalization
Weighted Average
$261.54B
$344.83B
Portfolio Turnover Rate
(1-year trailing)
32.69%
-
Price/Earnings Ratio
(1-year forward)
39.67
23.76
Price/Book Ratio
(1-year forward)
9.28
7.59
Earnings Growth Rate
(1-year forward)
6.33%
4.25%

DEVELOPED VS. EMERGING MARKET

(As of 07/31/19)

% OF PORTFOLIO % OF INDEX
U.S. 77.91 76.57
Non-U.S. Emerging 12.66 10.14
Non-U.S. Developed 7.48 13.29
Cash & Equivalents 1.95 -

SECTOR ALLOCATION

(As of 07/31/19)

% OF PORTFOLIO % OF INDEX
Information Technology 71.17 100.00
Consumer Discretionary 11.13 -
Communication Services 9.70 -
Real Estate 4.41 -
Industrials 1.64 -
Cash & Equivalents 1.95 -

MARKET CAPITALIZATION RANGE OF EQUITY HOLDINGS

(As of 07/31/2019)

% OF PORTFOLIO % OF INDEX
Over $100B 45.57 61.07
$50B to $100B 14.32 6.62
$10B to $50B 25.95 26.24
$5B to $10B 8.91 4.22
$1B to $5B 2.41 1.43
N/A 0.89 0.42

REGIONAL ALLOCATION

(As of 07/31/19)

% OF PORTFOLIO % OF INDEX
North America 78.73 77.68
Asia/Pacific Ex Japan 12.54 10.22
Europe 3.87 6.73
Africa/Mideast 1.10 0.46
Japan 1.02 4.83
Latin America 0.79 0.08
Cash & Equivalents 1.95 -

Commentary & Literature