Deutsche DWS Investments Vit Funds N-CSRS Certified semi-annual shareholder report (management investment company)

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

One International Place

Boston, MA 02110

(Name and Address of Agent for Service)

Date of fiscal year end:	12/31
Date of reporting period:	6/30/2020

ITEM 1. REPORT TO STOCKHOLDERS

June 30, 2020

Semiannual Report

Deutsche DWS Investments VIT Funds

DWS Small Cap Index VIP

Beginning on January 1, 2021, as permitted by regulations adopted by the Securities and Exchange Commission, you may not be receiving paper copies of the Fund’s shareholder reports from the insurance company that offers your contract unless you specifically request paper copies from your insurance company or from your financial intermediary. Instead, the shareholder reports will be made available on a Web site, and your insurance company will notify you by mail each time a report is posted and provide you with a Web site link to access the report. Instructions for requesting paper copies will be provided by your insurance company.

If you already elected to receive shareholder reports electronically, you will not be affected by this change and you need not take any action. You may elect to receive shareholder reports and other communications from your insurance company electronically by following the instructions provided by your insurance company.

You may elect to receive all future reports in paper free of charge from your insurance company. If your insurance company informs you that future reports will be delivered via Web access, you can inform your insurance company that you wish to continue receiving paper copies of your shareholder reports by following the instructions provided by your insurance company.

Contents

3	Performance Summary
4	Portfolio Summary
4	Portfolio Manager
5	Investment Portfolio
25	Statement of Assets and Liabilities
25	Statement of Operations
26	Statements of Changes in Net Assets
27	Financial Highlights
28	Notes to Financial Statements
34	Information About Your Fund’s Expenses
35	Liquidity Risk Management
35	Proxy Voting
36	Advisory Agreement Board Considerations and Fee Evaluation

This report must be preceded or accompanied by a prospectus. To obtain an additional prospectus or summary prospectus, if available, call (800) 728-3337 or your financial representative. We advise you to consider the Fund’s objectives, risks, charges and expenses carefully before investing. The summary prospectus and prospectus contain this and other important information about the Fund. Please read the prospectus carefully before you invest.

Stocks may decline in value. Various factors, including costs, cash flows and security selection, may cause the Fund’s performance to differ from that of the index. Smaller company stocks tend to be more volatile than medium-sized or large company stocks. The Fund may lend securities to approved institutions. Investing in derivatives entails special risks relating to liquidity, leverage and credit that may reduce returns and/or increase volatility. Please read the prospectus for details.

War, terrorism, economic uncertainty, trade disputes, public health crises (including the recent pandemic spread of the novel coronavirus) and related geopolitical events could lead to increased market volatility, disruption to U.S. and world economies and markets and may have significant adverse effects on the Fund and its investments.

The brand DWS represents DWS Group GmbH & Co. KGaA and any of its subsidiaries such as DWS Distributors, Inc. which offers investment products or DWS Investment Management Americas, Inc. and RREEF America L.L.C. which offer advisory services.

DWS Distributors, Inc., 222 South Riverside Plaza, Chicago, IL 60606, (800) 621-1148

NOT FDIC/NCUA INSURED     NO BANK GUARANTEE     MAY LOSE VALUE     NOT A DEPOSIT NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY

2 | DWS Small Cap Index VIP

Performance Summary June 30, 2020 (Unaudited)

Fund performance shown is historical, assumes reinvestment of all dividend and capital gain distributions, and does not guarantee future results. Investment return and principal value fluctuate with changing market conditions so that, when redeemed, shares may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. Please contact your participating insurance company for the Fund’s most recent month-end performance. Performance figures for Classes A and B differ because each class maintains a distinct expense structure. Performance does not reflect charges and fees (“contract charges”) 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. These charges and fees will reduce returns.

The gross expense ratios of the Fund, as stated in the fee table of the prospectus dated May 1, 2020 are 0.53% and 0.81% for Class A and Class B shares, respectively, and may differ from the expense ratios disclosed in the Financial Highlights tables in this report.

Generally accepted accounting principles require adjustments to be made to the net assets of the Fund at period end for financial reporting purposes only, and as such, the total return based on the unadjusted net asset value per share may differ from the total return reported in the financial highlights.

Growth of an Assumed $10,000 Investment

Russell 2000^® Index is an unmanaged, capitalization-weighted measure of approximately 2,000 of the smallest companies in the Russell 3000^® Index.   The Russell 3000^® Index is an unmanaged index that measures the performance of the 3,000 largest U.S. companies based on total market capitalization, which represents approximately 98% of the investable U.S. equity market.   Index returns do not reflect any fees or expenses and it is not possible to invest directly into an index.

Comparative Results
DWS Small Cap Index VIP		6-Month‡	1-Year	3-Year	5-Year	10-Year
Class A	Growth of $10,000	$8,674	$9,293	$10,516	$12,164	$26,550
	Average annual total return	–13.26%	–7.07%	1.69%	4.00%	10.26%
Russell 2000 Index	Growth of $10,000	$8,702	$9,337	$10,614	$12,335	$27,142
	Average annual total return	–12.98%	–6.63%	2.01%	4.29%	10.50%
DWS Small Cap Index VIP		6-Month‡	1-Year	3-Year	5-Year	10-Year
Class B	Growth of $10,000	$8,656	$9,262	$10,430	$11,993	$25,851
	Average annual total return	–13.44%	–7.38%	1.41%	3.70%	9.96%
Russell 2000 Index	Growth of $10,000	$8,702	$9,337	$10,614	$12,335	$27,142
	Average annual total return	–12.98%	–6.63%	2.01%	4.29%	10.50%

The growth of $10,000 is cumulative.

^‡  Total returns shown for periods less than one year are not annualized.

DWS Small Cap Index VIP | 3

Portfolio Summary (Unaudited)

Asset Allocation (As a % of Investment Portfolio excluding Securities Lending Collateral)	6/30/20		12/31/19
Common Stocks		98%		98%
Cash Equivalents		2%		2%
Government & Agency Obligations		0%		0%
Rights		0%		0%
Warrants		0%		—
		100%		100%
Sector Diversification (As a % of Common Stocks and Rights)	6/30/20		12/31/19
Health Care		21%		18%
Financials		16%		18%
Industrials		14%		16%
Information Technology		14%		13%
Consumer Discretionary		12%		11%
Real Estate		7%		8%
Materials		4%		4%
Utilities		4%		4%
Consumer Staples		3%		3%
Communication Services		3%		2%
Energy		2%		3%
		100%		100%

Ten Largest Equity Holdings (2.7% of Net Assets)		Percent
1	Deckers Outdoor Corp.
	Designs and markets function-oriented footwear and apparel	0.3%
2	LHC Group, Inc.
	Provider of post-acute healthcare services primarily to Medicare beneficiaries in rural markets	0.3%
3	BJ’s Wholesale Club Holdings, Inc.
	Operates as warehouse club	0.3%
4	Churchill Downs, Inc.
	Operator of racing, gaming and online entertainment	0.3%
5	Novavax, Inc.
	Clinical stage biotechnology company	0.3%
6	MyoKardia, Inc.
	Operates as a precision cardiovascular medicine company	0.3%
7	Helen of Troy Ltd.
	Designs, markets, and distributes hair care appliances	0.3%
8	SiteOne Landscape Supply, Inc.
	Distributor of landscape supplies	0.2%
9	EastGroup Properties, Inc.
	Developer of industrial properties	0.2%
10	Ultragenyx Pharmaceutical, Inc.
	Provider of biotechnology services	0.2%

Portfolio holdings and characteristics are subject to change.

For more complete details about the Fund’s investment portfolio, see page 5.

Following the Fund’s fiscal first and third quarter-end, a complete portfolio holdings listing is filed with the SEC on Form N-PORT. The Fund’s Form N-PORT will be available on the SEC’s Web site at sec.gov. The Fund’s portfolio holdings are also posted on dws.com from time to time. Please read the Fund’s current prospectus for more information.

Portfolio Manager

Brent Reeder

Senior Vice President, Northern Trust Investments, Inc., Subadvisor to the Fund

4 | DWS Small Cap Index VIP

Investment Portfolio as of June 30, 2020 (Unaudited)

	Shares		Value ($)
Common Stocks 97.6%
Communication Services 2.5%
Diversified Telecommunication Services 0.9%
Alaska Communications Systems Group, Inc.		9,664		26,963
Anterix, Inc.*		2,494		113,078
ATN International, Inc.		2,052		124,290
Bandwidth, Inc. “A”*		3,582		454,914
Cincinnati Bell, Inc.*		9,522		141,402
Cogent Communications Holdings, Inc.		7,940		614,238
Consolidated Communications Holdings, Inc.*		13,959		94,502
IDT Corp. “B”*		3,076		20,086
Iridium Communications, Inc.*		21,973		558,993
Liberty Latin America Ltd. “A”*		8,472		82,348
Liberty Latin America Ltd. “C”*		21,133		199,496
Ooma, Inc.*		3,961		65,277
Orbcomm, Inc.* (a)		14,110		54,324
Vonage Holdings Corp.*		43,286		435,457
				2,985,368
Entertainment 0.3%
Accel Entertainment, Inc.*		7,892		76,000
AMC Entertainment Holdings, Inc. “A” (a)		9,964		42,746
Cinemark Holdings, Inc.		19,990		230,885
Eros International PLC* (a)		12,889		40,729
Gaia, Inc.*		2,099		17,590
Glu Mobile, Inc.*		24,223		224,547
IMAX Corp.*		9,283		104,062
Liberty Media Corp.-Liberty Braves “A”*		1,868		37,509
Liberty Media Corp.-Liberty Braves “C”*		6,831		134,844
LiveXLive Media, Inc.* (a)		5,338		19,324
Marcus Corp.		4,379		58,109
				986,345
Interactive Media & Services 0.4%
Cargurus, Inc.*		16,135		409,022
Cars.com, Inc.*		12,646		72,841
DHI Group, Inc.*		9,464		19,874
Eventbrite, Inc. “A”* (a)		11,871		101,735
EverQuote, Inc. “A”*		2,616		152,147
Liberty TripAdvisor Holdings, Inc. “A”*		13,010		27,711
Meet Group, Inc.*		12,896		80,471
QuinStreet, Inc.*		8,872		92,801
TrueCar, Inc.*		20,048		51,724
Yelp, Inc.*		13,103		303,072
				1,311,398
Media 0.7%
AMC Networks, Inc. “A”*		7,244		169,437
Boston Omaha Corp. “A”*		2,173		34,768
Cardlytics, Inc.*		4,829		337,933
Central European Media Enterprises Ltd. “A”*		16,948		59,996
comScore, Inc.*		10,987		34,060
Daily Journal Corp.*		205		55,350
Emerald Holding, Inc.		4,554		14,026

	Shares		Value ($)
Entercom Communications Corp. “A”		21,360		29,477
Entravision Communications Corp. “A”		11,617		16,612
Fluent, Inc.*		7,895		14,053
Gannett Co., Inc.		24,749		34,154
Gray Television, Inc.*		16,700		232,965
Hemisphere Media Group, Inc.*		2,832		27,839
iHeartMedia, Inc. “A”*		11,199		93,512
Loral Space & Communications, Inc.		2,490		48,605
Meredith Corp.		7,436		108,194
MSG Networks, Inc. “A”*		7,474		74,366
National CineMedia, Inc.		11,569		34,360
Saga Communications, Inc. “A”		704		18,022
Scholastic Corp.		5,397		161,586
Sinclair Broadcast Group, Inc. “A”		9,732		179,653
TechTarget, Inc.*		4,310		129,429
TEGNA, Inc.		40,996		456,696
The E.W. Scripps Co. “A”		10,255		89,731
Tribune Publishing Co.		2,716		27,133
WideOpenWest, Inc.*		9,801		51,651
				2,533,608
Wireless Telecommunication Services 0.2%
Boingo Wireless, Inc.*		8,191		109,104
Gogo, Inc.* (a)		10,268		32,447
Shenandoah Telecommunications Co.		9,012		444,201
Spok Holdings, Inc.		3,174		29,677
				615,429
Consumer Discretionary 11.5%
Auto Components 1.2%
Adient PLC*		16,299		267,630
American Axle & Manufacturing Holdings, Inc.*		21,004		159,630
Cooper Tire & Rubber Co.		9,424		260,197
Cooper-Standard Holdings, Inc.*		3,051		40,426
Dana, Inc.		26,951		328,533
Dorman Products, Inc.*		4,989		334,612
Fox Factory Holding Corp.*		7,202		594,957
Gentherm, Inc.*		6,077		236,395
Goodyear Tire & Rubber Co.		43,313		387,435
LCI Industries		4,604		529,368
Modine Manufacturing Co.*		9,481		52,335
Motorcar Parts of America, Inc.* (a)		3,501		61,863
Standard Motor Products, Inc.		3,884		160,021
Stoneridge, Inc.*		4,778		98,713
Tenneco, Inc. “A”*		9,329		70,527
Visteon Corp.*		5,195		355,857
Workhorse Group, Inc.*		11,853		206,124
Xpel, Inc.*		3,126		48,891
				4,193,514
Automobiles 0.1%
Winnebago Industries, Inc.		5,841		389,127
Distributors 0.1%
Core-Mark Holding Co., Inc.		8,387		209,297
Funko, Inc. “A”*		4,715		27,347
Greenlane Holdings, Inc. “A”*		2,508		9,982

The accompanying notes are an integral part of the financial statements.

DWS Small Cap Index VIP | 5

	Shares		Value ($)
Weyco Group, Inc.		1,242		26,815
				273,441
Diversified Consumer Services 0.7%
Adtalem Global Education, Inc.*		9,725		302,934
American Public Education, Inc.*		2,711		80,246
Aspen Group Inc/co*		3,451		31,232
Carriage Services, Inc.		3,136		56,824
Collectors Universe, Inc.		1,707		58,516
Franchise Group, Inc.		3,577		78,265
Houghton Mifflin Harcourt Co.*		18,628		33,717
K12, Inc.*		7,473		203,564
Laureate Education, Inc. “A”*		20,103		200,326
OneSpaWorld Holdings Ltd.		8,097		38,623
Perdoceo Education Corp.*		12,950		206,293
Regis Corp.*		4,169		34,102
Strategic Education, Inc.		4,103		630,426
Universal Technical Institute, Inc.*		5,358		37,238
Vivint Smart Home, Inc.*		13,033		225,862
WW International, Inc.*		8,858		224,816
				2,442,984
Hotels, Restaurants & Leisure 2.7%
BBX Capital Corp.		12,037		30,574
Biglari Holdings, Inc. “A”*		15		5,025
Biglari Holdings, Inc. “B”*		164		11,313
BJ’s Restaurants, Inc.		3,402		71,238
Bloomin’ Brands, Inc.		16,213		172,831
Bluegreen Vacations Corp.		1,381		7,485
Boyd Gaming Corp.		15,175		317,157
Brinker International, Inc.		8,182		196,368
Carrols Restaurant Group, Inc.*		7,085		34,291
Century Casinos, Inc.*		4,779		19,833
Churchill Downs, Inc.		7,099		945,232
Chuy’s Holdings, Inc.*		2,979		44,328
Cracker Barrel Old Country Store, Inc.		4,479		496,766
Dave & Buster’s Entertainment, Inc. (a)		8,680		115,704
Del Taco Restaurants, Inc.*		5,634		33,410
Denny’s Corp.*		10,145		102,464
Dine Brands Global, Inc. (a)		2,924		123,100
El Pollo Loco Holdings, Inc.*		3,501		51,675
Eldorado Resorts, Inc.* (a)		15,787		632,427
Everi Holdings, Inc.*		15,192		78,391
Fiesta Restaurant Group, Inc.*		3,393		21,647
Gan Ltd.*		1,384		35,223
Golden Entertainment, Inc.*		3,233		28,838
Hilton Grand Vacations, Inc.*		15,883		310,513
International Game Technology PLC		18,604		165,576
Jack in the Box, Inc.		4,220		312,660
Kura Sushi USA, Inc.*		598		8,539
Lindblad Expeditions Holdings, Inc.*		4,795		37,017
Marriott Vacations Worldwide Corp.		7,560		621,508
Monarch Casino & Resort, Inc.*		2,361		80,463
Nathan’s Famous, Inc.		536		30,145
Noodles & Co.*		6,086		36,820
Papa John’s International, Inc.		6,046		480,113
Penn National Gaming, Inc.* (a)		25,007		763,714
PlayAGS, Inc.*		4,708		15,913
RCI Hospitality Holdings, Inc.		1,715		23,770
Red Robin Gourmet Burgers, Inc.*		2,426		24,745

	Shares		Value ($)
Red Rock Resorts, Inc. “A”		12,309		134,291
Ruth’s Hospitality Group, Inc.		5,002		40,816
Scientific Games Corp. “A”*		10,708		165,546
SeaWorld Entertainment, Inc.*		9,480		140,399
Shake Shack, Inc. “A”*		6,557		347,390
Target Hospitality Corp.*		6,100		10,309
Texas Roadhouse, Inc.		12,285		645,822
The Cheesecake Factory, Inc. (a)		7,836		179,601
Twin River Worldwide Holdings, Inc. (a)		3,404		75,875
Wingstop, Inc.		5,534		769,060
				8,995,925
Household Durables 2.0%
Beazer Homes U.S.A., Inc.*		5,570		56,090
Casper Sleep, Inc.* (a)		1,685		15,114
Cavco Industries, Inc.*		1,617		311,838
Century Communities, Inc.*		5,487		168,231
Ethan Allen Interiors, Inc.		4,220		49,923
GoPro, Inc. “A”*		24,096		114,697
Green Brick Partners, Inc.*		4,485		53,147
Hamilton Beach Brands Holding Co. “A”		1,206		14,351
Helen of Troy Ltd.*		4,726		891,135
Hooker Furniture Corp.		2,130		41,428
Installed Building Products, Inc.*		4,236		291,352
iRobot Corp.*		5,165		433,343
KB HOME		16,447		504,594
La-Z-Boy, Inc.		8,261		223,543
Legacy Housing Corp.*		1,580		22,468
LGI Homes, Inc.*		4,151		365,413
Lifetime Brands, Inc.		2,187		14,697
Lovesac Co.*		1,741		45,666
M.D.C. Holdings, Inc.		9,551		340,971
M/I Homes, Inc.*		5,256		181,017
Meritage Homes Corp.*		6,921		526,827
Purple Innovation, Inc.*		2,671		48,078
Skyline Champion Corp.*		10,153		247,124
Sonos, Inc.*		14,928		218,397
Taylor Morrison Home Corp. “A”*		23,505		453,411
TopBuild Corp.*		6,178		702,871
TRI Pointe Group, Inc.*		24,075		353,662
Tupperware Brands Corp.		8,754		41,581
Turtle Beach Corp.*		2,513		36,991
Universal Electronics, Inc.*		2,490		116,582
VOXX International Corp.*		3,727		21,542
				6,906,084
Internet & Direct Marketing Retail 0.6%
1-800 FLOWERS.COM, Inc. “A”*		4,702		94,134
Duluth Holdings, Inc. “B”* (a)		1,991		14,674
Groupon, Inc.*		4,306		78,025
Lands’ End, Inc.*		1,999		16,072
Liquidity Services, Inc.*		4,921		29,329
Overstock.com, Inc.*		7,505		213,367
PetMed Express, Inc.		3,617		128,910
Quotient Technology, Inc.*		16,101		117,859
RealReal, Inc.*		11,659		149,119
Rubicon Project, Inc.* (a)		19,575		130,565
Shutterstock, Inc.		3,569		124,808
Stamps.com, Inc.*		3,099		569,255
Stitch Fix, Inc. “A”* (a)		10,499		261,845
U.S. Auto Parts Network, Inc.*		3,932		34,051
Waitr Holdings, Inc.* (a)		14,195		37,333
				1,999,346

The accompanying notes are an integral part of the financial statements.

6 | DWS Small Cap Index VIP

	Shares		Value ($)
Leisure Products 0.7%
Acushnet Holdings Corp.		6,357		221,160
Callaway Golf Co. (a)		17,465		305,812
Clarus Corp.		4,349		50,362
Escalade, Inc.		1,919		26,789
Johnson Outdoors, Inc. “A”		953		86,742
Malibu Boats, Inc. “A”*		3,824		198,657
Marine Products Corp.		1,244		17,229
MasterCraft Boat Holdings, Inc.*		3,473		66,161
Nautilus, Inc.*		5,543		51,384
Smith & Wesson Brands, Inc.* (a)		10,248		220,537
Sturm, Ruger & Co., Inc.		3,161		240,236
Vista Outdoor, Inc.*		10,745		155,265
YETI Holdings, Inc.*		13,852		591,896
				2,232,230
Multiline Retail 0.2%
Big Lots, Inc.		7,378		309,876
Dillard’s, Inc. “A” (a)		1,418		36,570
Macy’s, Inc.		58,392		401,737
				748,183
Specialty Retail 2.3%
Aaron’s, Inc.		12,590		571,586
Abercrombie & Fitch Co. “A”		11,694		124,424
America’s Car-Mart, Inc.*		1,153		101,314
American Eagle Outfitters, Inc.		28,204		307,424
Asbury Automotive Group, Inc.*		3,615		279,548
At Home Group, Inc.*		8,850		57,437
Bed Bath & Beyond, Inc. (a)		23,719		251,421
Boot Barn Holdings, Inc.*		5,339		115,109
Caleres, Inc.		7,202		60,065
Camping World Holdings, Inc. “A”		6,053		164,399
Cato Corp. “A”		3,675		30,062
Chico’s FAS, Inc.		21,424		29,565
Citi Trends, Inc.		2,123		42,927
Conn’s, Inc.* (a)		3,031		30,583
Designer Brands, Inc. “A”		11,566		78,302
Envela Corp.*		1,440		8,784
Express, Inc.*		12,075		18,596
GameStop Corp. “A”* (a)		10,743		46,625
Genesco, Inc.*		2,548		55,190
Group 1 Automotive, Inc.		3,244		214,007
Growgeneration Corp.*		5,344		36,553
Guess?, Inc.		8,218		79,468
Haverty Furniture Companies, Inc.		3,107		49,712
Hibbett Sports, Inc.*		3,037		63,595
Hudson Ltd. “A”*		7,874		38,346
Lithia Motors, Inc. “A”		4,122		623,782
Lumber Liquidators Holdings, Inc.* (a)		5,184		71,850
MarineMax, Inc.*		3,762		84,231
Monro, Inc.		6,173		339,145
Murphy USA, Inc.*		5,153		580,176
National Vision Holdings, Inc.*		15,030		458,716
Office Depot, Inc.		97,646		229,468
OneWater Marine, Inc. “A”*		817		19,837
Rent-A-Center, Inc.		9,146		254,442
RH* (a)		3,123		777,315
Sally Beauty Holdings, Inc.*		21,082		264,157
Shoe Carnival, Inc.		1,661		48,617
Signet Jewelers Ltd. (a)		9,769		100,328
Sleep Number Corp.*		5,059		210,657
Sonic Automotive, Inc. “A”		4,462		142,382

	Shares		Value ($)
Sportsman’s Warehouse Holdings, Inc.*		7,988		113,829
The Buckle, Inc.		5,447		85,409
The Children’s Place, Inc. (a)		2,646		99,013
The Container Store Group, Inc.*		2,885		9,347
The Michaels Companies, Inc.* (a)		13,934		98,513
Tilly’s, Inc. “A”		3,823		21,676
Urban Outfitters, Inc.*		12,911		196,505
Winmark Corp. (a)		551		94,353
Zumiez, Inc.*		3,916		107,220
				7,886,010
Textiles, Apparel & Luxury Goods 0.9%
Crocs, Inc.*		12,473		459,256
Deckers Outdoor Corp.*		5,218		1,024,763
Fossil Group, Inc.* (a)		8,665		40,292
G-III Apparel Group Ltd.*		8,395		111,570
Kontoor Brands, Inc.* (a)		9,631		171,528
Lakeland Industries, Inc.*		1,429		32,053
Movado Group, Inc.		3,094		33,539
Oxford Industries, Inc.		3,058		134,583
Rocky Brands, Inc.		1,238		25,453
Steven Madden Ltd.		15,423		380,794
Superior Group of Company, Inc.		1,996		26,746
Unifi, Inc.*		2,631		33,887
Vera Bradley, Inc.*		3,753		16,663
Wolverine World Wide, Inc.		14,912		355,055
				2,846,182
Consumer Staples 3.3%
Beverages 0.3%
Celsius Holdings, Inc.*		6,415		75,505
Coca-Cola Bottling Co. Consolidated		871		199,624
Craft Brew Alliance, Inc.*		2,104		32,381
MGP Ingredients, Inc. (a)		2,455		90,111
National Beverage Corp.* (a)		2,196		134,000
New Age Beverages Corp.* (a)		16,576		25,361
Primo Water Corp.		29,194		401,417
				958,399
Food & Staples Retailing 0.9%
BJ’s Wholesale Club Holdings, Inc.*		25,584		953,516
HF Foods Group, Inc.* (a)		6,673		60,391
Ingles Markets, Inc. “A”		2,625		113,059
Natural Grocers by Vitamin Cottage, Inc.		1,700		25,296
Performance Food Group Co.*		24,481		713,376
PriceSmart, Inc.		4,253		256,584
Rite Aid Corp.* (a)		10,245		174,780
SpartanNash Co.		6,523		138,614
The Andersons, Inc.		5,920		81,459
The Chefs’ Warehouse, Inc.*		4,659		63,269
United Natural Foods, Inc.*		9,891		180,115
Village Super Market, Inc. “A”		1,509		41,829
Weis Markets, Inc.		1,754		87,910
				2,890,198
Food Products 1.4%
Alico, Inc.		961		29,945
B&G Foods, Inc. (a)		11,955		291,463
Bridgford Foods Corp.*		322		5,332
Cal-Maine Foods, Inc.*		5,948		264,567
Calavo Growers, Inc.		3,056		192,253

The accompanying notes are an integral part of the financial statements.

DWS Small Cap Index VIP | 7

	Shares		Value ($)
Darling Ingredients, Inc.*		30,066		740,225
Farmer Brothers Co.*		3,038		22,299
Fresh Del Monte Produce, Inc. (a)		5,886		144,913
Freshpet, Inc.*		7,234		605,196
Hostess Brands, Inc.*		22,972		280,718
J & J Snack Foods Corp.		2,779		353,294
John B. Sanfilippo & Son, Inc.		1,653		141,050
Lancaster Colony Corp.		3,546		549,595
Landec Corp.*		4,936		39,291
Limoneira Co.		2,997		43,427
Sanderson Farms, Inc.		3,768		436,674
Seneca Foods Corp. “A”*		1,226		41,451
Simply Good Foods Co.*		15,935		296,072
Tootsie Roll Industries, Inc. (a)		2,994		102,604
				4,580,369
Household Products 0.2%
Central Garden & Pet Co.*		1,786		64,278
Central Garden & Pet Co. “A”*		7,363		248,796
Oil-Dri Corp. of America		930		32,271
WD-40 Co.		2,549		505,467
				850,812
Personal Products 0.4%
Bellring Brands, Inc.*		7,358		146,719
Edgewell Personal Care Co.*		10,111		315,059
elf Beauty, Inc.*		4,894		93,329
Inter Parfums, Inc.		3,320		159,858
Lifevantage Corp.*		2,581		34,895
Medifast, Inc. (a)		2,112		293,082
Nature’s Sunshine Products, Inc.*		1,427		12,857
Revlon, Inc. “A”* (a)		1,271		12,583
USANA Health Sciences, Inc.*		2,164		158,902
Veru, Inc.*		9,244		30,875
				1,258,159
Tobacco 0.1%
Turning Point Brands, Inc.		1,528		38,062
Universal Corp.		4,546		193,250
Vector Group Ltd.		25,208		253,593
				484,905
Energy 2.2%
Energy Equipment & Services 0.7%
Archrock, Inc.		24,366		158,135
Aspen Aerogels, Inc.*		3,815		25,103
Cactus, Inc. “A” (a)		8,859		182,761
Championx Corp.*		34,719		338,857
DMC Global, Inc. (a)		2,718		75,017
Dril-Quip, Inc.*		6,481		193,069
Exterran Corp.*		4,890		26,357
Frank’s International NV*		29,028		64,732
Helix Energy Solutions Group, Inc.*		26,649		92,472
Liberty Oilfield Services, Inc. “A”		11,781		64,560
Matrix Service Co.*		5,074		49,319
Nabors Industries Ltd.		1,271		47,052
National Energy Services Reunited Corp.*		3,528		24,273
Newpark Resources, Inc.*		15,711		35,036
NexTier Oilfield Solutions, Inc.*		30,658		75,112
Oceaneering International, Inc.*		18,720		119,621
Oil States International, Inc.*		10,756		51,091
Patterson-UTI Energy, Inc.		34,255		118,865
ProPetro Holding Corp.*		15,093		77,578

	Shares		Value ($)
RPC, Inc.		10,105		31,123
SEACOR Holdings, Inc.*		3,587		101,584
Select Energy Services, Inc. “A”*		10,567		51,778
Solaris Oilfield Infrastructure, Inc. “A”		5,366		39,816
Tidewater, Inc.*		7,846		43,859
Transocean Ltd.*		109,297		200,014
U.S. Silica Holdings, Inc.		13,188		47,609
				2,334,793
Oil, Gas & Consumable Fuels 1.5%
Adams Resources & Energy, Inc.		404		10,815
Antero Resources Corp.*		45,375		115,252
Arch Resources, Inc.		2,852		81,025
Ardmore Shipping Corp.		5,725		24,847
Berry Corp.		12,653		61,114
Bonanza Creek Energy, Inc.*		3,602		53,382
Brigham Minerals, Inc. “A”		5,663		69,938
California Resources Corp.* (a)		8,735		10,657
Chesapeake Energy Corp.*		1,841		9,021
Clean Energy Fuels Corp.*		25,316		56,202
CNX Resources Corp.*		34,855		301,496
Comstock Resources, Inc.*		3,872		16,959
CONSOL Energy, Inc.*		4,697		23,814
Contango Oil & Gas Co.*		16,741		38,337
CVR Energy, Inc.		5,521		111,027
Delek U.S. Holdings, Inc.		11,667		203,122
DHT Holdings, Inc.		20,415		104,729
Diamond S Shipping, Inc.*		5,184		41,420
Dorian LPG Ltd.*		6,439		49,838
Earthstone Energy, Inc. “A”*		5,119		14,538
Energy Fuels, Inc.* (a)		21,828		32,960
Evolution Petroleum Corp.		5,348		14,974
Falcon Minerals Corp.		7,120		22,784
Frontline Ltd.		22,010		153,630
Golar LNG Ltd.* (a)		16,997		123,058
Goodrich Petroleum Corp.*		1,605		11,556
Green Plains, Inc.*		6,395		65,325
Gulfport Energy Corp.*		28,635		31,212
International Seaways, Inc.		4,733		77,337
Kosmos Energy Ltd.		75,346		125,074
Magnolia Oil & Gas Corp. “A”*		23,434		142,010
Matador Resources Co.* (a)		20,511		174,343
Montage Resources Corp.*		3,954		15,618
NACCO Industries, Inc. “A”		660		15,378
NextDecade Corp* (a)		4,427		9,562
Nordic American Tankers Ltd. (a)		27,429		111,362
Overseas Shipholding Group, Inc. “A”*		13,216		24,582
Ovintiv, Inc.		48,902		467,014
Par Pacific Holdings, Inc.*		7,462		67,083
PBF Energy, Inc. “A”		18,028		184,607
PDC Energy, Inc.* (a)		18,649		231,994
Peabody Energy Corp.		11,159		32,138
Penn Virginia Corp.*		2,508		23,901
PrimeEnergy Resources Corp.*		96		6,825
Range Resources Corp.		40,004		225,223
Renewable Energy Group, Inc.*		7,136		176,830
REX American Resources Corp.*		1,050		72,839
Scorpio Tankers, Inc. (a)		9,555		122,400
SFL Corp. Ltd.		17,365		161,321
SM Energy Co.		20,698		77,618
Southwestern Energy Co.* (a)		101,797		260,600
Talos Energy, Inc.*		2,061		18,961

The accompanying notes are an integral part of the financial statements.

8 | DWS Small Cap Index VIP

	Shares		Value ($)
Tellurian, Inc.* (a)		27,289		31,382
Uranium Energy Corp.*		34,451		30,238
W&T Offshore, Inc.*		18,390		41,929
Whiting Petroleum Corp.* (a)		16,658		18,824
World Fuel Services Corp.		11,666		300,516
				5,100,541
Financials 15.9%
Banks 8.3%
1st Constitution Bancorp.		1,722		21,353
1st Source Corp.		3,076		109,444
ACNB Corp.		1,674		43,825
Allegiance Bancshares, Inc. (a)		3,500		88,865
Amalgamated Bank “A”		2,558		32,333
Amerant Bancorp, Inc.*		4,236		63,709
American National Bankshares, Inc.		2,057		51,507
Ameris Bancorp.		12,403		292,587
Ames National Corp.		1,759		34,723
Arrow Financial Corp.		2,484		73,849
Atlantic Capital Bancshares, Inc.*		3,831		46,585
Atlantic Union Bankshares Corp. (a)		14,573		337,511
Auburn National Bancorporation, Inc.		436		24,891
Banc of California, Inc.		8,518		92,250
BancFirst Corp.		3,540		143,618
BancorpSouth Bank		18,491		420,485
Bank First Corp. (a)		1,172		75,125
Bank of Commerce Holdings		2,999		22,732
Bank of Marin Bancorp.		2,487		82,892
Bank of NT Butterfield & Son Ltd.		9,726		237,217
Bank of Princeton		1,156		23,212
Bank7 Corp.		588		6,383
BankFinancial Corp.		2,654		22,294
BankUnited, Inc.		17,151		347,308
Bankwell Financial Group, Inc.		1,267		20,145
Banner Corp.		6,451		245,138
Bar Harbor Bankshares		2,785		62,356
Baycom Corp.*		2,189		28,260
BCB Bancorp., Inc.		2,455		22,782
Berkshire Hills Bancorp., Inc.		8,397		92,535
Boston Private Financial Holdings, Inc.		15,438		106,213
Bridge Bancorp., Inc.		3,098		70,758
Brookline Bancorp., Inc.		14,366		144,809
Bryn Mawr Bank Corp.		3,657		101,153
Business First Bancshares, Inc.		2,304		35,366
Byline Bancorp., Inc.		4,537		59,435
C&F Financial Corp.		613		20,382
Cadence BanCorp.		23,427		207,563
California Bancorp, Inc.*		1,410		21,009
Cambridge Bancorp. (a)		1,211		71,740
Camden National Corp.		2,776		95,883
Capital Bancorp. Inc*		1,557		16,660
Capital City Bank Group, Inc.		2,530		53,004
Capstar Financial Holdings, Inc.		3,129		37,548
Carter Bank & Trust		3,961		31,965
Cathay General Bancorp.		14,175		372,803
CB Financial Services, Inc.		920		20,074
CBTX, Inc.		3,224		67,704
Central Pacific Financial Corp.		5,057		81,064
Central Valley Community Bancorp.		1,861		28,641

	Shares		Value ($)
Century Bancorp., Inc. “A”		520		40,414
Chemung Financial Corp.		703		19,192
Choiceone Financial Services, Inc.		1,275		37,689
CIT Group, Inc.		18,432		382,095
Citizens & Northern Corp.		2,374		49,023
Citizens Holdings Co.		871		21,775
City Holding Co.		2,976		193,946
Civista Bancshares, Inc.		2,895		44,583
CNB Financial Corp.		2,854		51,172
Coastal Financial Corp.*		1,827		26,528
Codorus Valley Bancorp., Inc.		1,585		21,921
Colony Bankcorp, Inc.		1,369		16,113
Columbia Banking System, Inc.		13,453		381,325
Community Bank System, Inc.		9,594		547,050
Community Bankers Trust Corp.		3,937		21,654
Community Financial Corp.		915		22,326
Community Trust Bancorp., Inc.		2,909		95,299
ConnectOne Bancorp., Inc.		6,930		111,712
County Bancorp., Inc.		931		19,486
CrossFirst Bankshares, Inc.*		8,847		86,524
Customers Bancorp., Inc.*		5,382		64,692
CVB Financial Corp.		24,147		452,515
Delmar Bancorp.		1,827		12,003
Dime Community Bancshares		5,347		73,414
Eagle Bancorp. Montana, Inc.		1,167		20,282
Eagle Bancorp., Inc.		6,015		196,991
Enterprise Bancorp., Inc.		1,753		41,756
Enterprise Financial Services Corp.		4,512		140,413
Equity Bancshares, Inc. “A”*		2,609		45,501
Esquire Financial Holdings, Inc.*		1,121		18,945
Evans Bancorp., Inc.		846		19,678
Farmers & Merchants Bancorp., Inc.		1,921		40,802
Farmers National Banc Corp.		4,973		58,980
FB Financial Corp.		3,322		82,286
Fidelity D&D Bancorp, Inc.		736		35,394
Financial Institutions, Inc.		2,920		54,341
First BanCorp.		40,438		226,048
First BanCorp. — North Carolina		5,371		134,705
First Bancorp., Inc.		1,840		39,928
First Bancshares, Inc.		3,861		86,873
First Bank		3,074		20,042
First Busey Corp.		9,461		176,448
First Business Financial Services, Inc.		1,434		23,589
First Capital, Inc.		597		41,474
First Choice Bancorp.		1,780		29,156
First Commonwealth Financial Corp.		18,052		149,471
First Community Bancshares, Inc.		3,329		74,736
First Community Corp.		1,338		20,271
First Financial Bancorp.		17,985		249,812
First Financial Bankshares, Inc.		24,083		695,758
First Financial Corp. — Indiana		2,580		95,047
First Foundation, Inc.		7,290		119,119
First Guaranty Bancshares, Inc.		514		6,286
First Internet Bancorp.		1,676		27,855
First Interstate BancSystem, Inc. “A”		7,946		246,008
First Merchants Corp.		10,096		278,347
First Mid-Illinois Bancshares, Inc.		2,680		70,296
First Midwest Bancorp., Inc.		21,325		284,689
First Northwest Bancorp.		1,649		20,481

The accompanying notes are an integral part of the financial statements.

DWS Small Cap Index VIP | 9

	Shares		Value ($)
First of Long Island Corp.		4,264		69,674
First Savings Financial Group, Inc.		348		15,079
First United Corp.		1,254		16,728
First Western Financial, Inc.*		1,163		16,573
Flushing Financial Corp.		4,988		57,462
FNCB Bancorp, Inc.		3,161		18,176
Franklin Financial Network, Inc.		2,502		64,427
Franklin Financial Services Corp.		769		19,917
Fulton Financial Corp.		30,135		317,322
FVCBankcorp, Inc.*		2,234		24,038
German American Bancorp., Inc. (a)		4,587		142,656
Glacier Bancorp., Inc.		17,894		631,479
Great Southern Bancorp., Inc.		2,071		83,586
Great Western Bancorp., Inc.		10,496		144,425
Guaranty Bancshares, Inc.		1,309		33,864
Hancock Whitney Corp.		16,126		341,871
Hanmi Financial Corp.		5,734		55,677
Harborone Bancorp, Inc.*		9,889		84,452
Hawthorn Bancshares, Inc.		1,085		21,358
HBT Financial, Inc.		1,956		26,073
Heartland Financial U.S.A., Inc.		6,412		214,417
Heritage Commerce Corp.		10,779		80,896
Heritage Financial Corp. (a)		6,768		135,360
Hilltop Holdings, Inc.		13,463		248,392
Home Bancshares, Inc.		28,581		439,576
HomeTrust Bancshares, Inc.		2,976		47,616
Hope Bancorp., Inc.		22,007		202,905
Horizon Bancorp, Inc.		8,006		85,584
Howard Bancorp., Inc.*		2,502		26,571
IBERIABANK Corp.		9,742		443,651
Independent Bank Corp.		6,105		409,584
Independent Bank Corp./Michigan		3,955		58,732
Independent Bank Group, Inc.		6,918		280,317
International Bancshares Corp.		9,974		319,367
Investar Holding Corp.		1,915		27,768
Investors Bancorp., Inc.		43,117		366,495
Lakeland Bancorp., Inc.		9,163		104,733
Lakeland Financial Corp.		4,531		211,099
Landmark Bancorp. Inc/manhattan Ks		694		17,149
LCNB Corp.		2,332		37,219
Level One Bancorp, Inc.		921		15,418
Limestone Bancorp, Inc.*		940		12,361
Live Oak Bancshares, Inc. (a)		5,247		76,134
Macatawa Bank Corp.		4,755		37,184
Mackinac Financial Corp.		1,700		17,629
MainStreet Bancshares, Inc.*		1,307		17,252
Mercantile Bank Corp.		2,942		66,489
Meridian Corp.*		999		15,834
Metrocity Bankshares, Inc.		3,232		46,315
Metropolitan Bank Holding Corp.*		1,295		41,544
Mid Penn Bancorp, Inc.		1,273		23,461
Middlefield Banc Corp.		1,114		23,116
Midland States Bancorp., Inc. (a)		4,132		61,773
MidWestOne Financial Group, Inc.		2,752		55,040
MVB Financial Corp.		2,023		26,906
National Bank Holdings Corp. “A”		5,415		146,205
National Bankshares, Inc.		1,117		31,946
NBT Bancorp., Inc.		7,872		242,143
Nicolet Bankshares, Inc.* (a)		1,743		95,516
Northeast Bank*		1,409		24,728
Northrim BanCorp., Inc.		1,086		27,302
Norwood Financial Corp.		1,066		26,426

	Shares		Value ($)
Oak Valley Bancorp.		1,299		16,471
OceanFirst Financial Corp.		10,876		191,744
OFG Bancorp.		9,445		126,280
Ohio Valley Banc Corp.		758		17,093
Old National Bancorp. (a)		30,638		421,579
Old Second Bancorp., Inc.		5,377		41,833
Origin Bancorp, Inc.		4,123		90,706
Orrstown Financial Services, Inc.		2,173		32,052
Pacific Premier Bancorp., Inc.		15,767		341,829
Park National Corp.		2,682		188,759
Parke Bancorp., Inc.		1,830		24,797
PCB Bancorp.		2,369		24,401
Peapack-Gladstone Financial Corp.		3,300		61,809
Penns Woods Bancorp., Inc.		1,246		28,297
People’s Utah Bancorp.		2,964		66,601
Peoples Bancorp. of North Carolina, Inc.		847		14,966
Peoples Bancorp., Inc.		3,563		75,821
Peoples Financial Services Corp.		1,331		50,831
Plumas Bancorp.		862		19,067
Preferred Bank		2,539		108,796
Premier Financial Bancorp., Inc.		2,273		29,140
Professional Holding Corp.*		897		12,450
QCR Holdings, Inc.		2,695		84,030
RBB Bancorp.		2,922		39,885
Red River Bancshares, Inc.		923		40,510
Reliant Bancorp., Inc.		2,868		46,720
Renasant Corp.		10,187		253,656
Republic Bancorp., Inc. “A”		1,860		60,841
Republic First Bancorp., Inc.*		8,082		19,720
Richmond Mutual Bancorp., Inc.		2,083		23,413
S&T Bancorp., Inc.		7,234		169,637
Salisbury Bancorp, Inc.		472		19,347
Sandy Spring Bancorp., Inc.		8,610		213,356
Sb Financial Group, Inc.		1,324		22,005
SB One Bancorp.		1,485		29,255
Seacoast Banking Corp. of Florida*		9,743		198,757
Select Bancorp, Inc.*		2,954		24,046
ServisFirst Bancshares, Inc.		9,098		325,344
Shore Bancshares, Inc.		2,489		27,603
Sierra Bancorp.		2,586		48,824
Silvergate Capital Corp.*		2,879		40,306
Simmons First National Corp. “A”		20,223		346,016
SmartFinancial, Inc.		2,699		43,670
South Plains Financial, Inc.		2,062		29,363
South State Corp.		13,072		623,012
Southern First Bancshares, Inc.*		1,312		36,356
Southern National Bancorp. of Virginia, Inc.		3,587		34,758
Southside Bancshares, Inc.		5,911		163,853
Spirit of Texas Bancshares, Inc.*		2,479		30,516
Stock Yards Bancorp., Inc.		3,844		154,529
Summit Financial Group, Inc.		2,232		36,783
Texas Capital Bancshares, Inc.*		9,451		291,752
The Bancorp., Inc.*		9,630		94,374
Tompkins Financial Corp. (a)		2,645		171,317
TowneBank		12,542		236,291
TriCo Bancshares		4,907		149,418
TriState Capital Holdings, Inc.*		5,234		82,226
Triumph Bancorp., Inc.*		4,201		101,958
Trustmark Corp.		11,780		288,846
UMB Financial Corp.		8,148		420,029
United Bankshares, Inc.		23,078		638,337

The accompanying notes are an integral part of the financial statements.

10 | DWS Small Cap Index VIP

	Shares		Value ($)
United Community Banks, Inc.		14,560		292,947
United Securities Bancshares		2,548		17,046
Unity Bancorp., Inc.		1,412		20,192
Univest Corp. of Pennsylvania		5,377		86,785
Valley National Bancorp.		74,442		582,136
Veritex Holdings, Inc.		8,908		157,672
Washington Trust Bancorp., Inc.		3,196		104,669
WesBanco, Inc.		12,159		246,949
West Bancorp.		3,031		53,012
Westamerica Bancorp.		4,901		281,415
				28,035,741
Capital Markets 1.4%
Artisan Partners Asset Management, Inc. “A”		10,153		329,973
Assetmark Financial Holdings, Inc.* (a)		3,060		83,507
Associated Capital Group, Inc. “A”		276		10,126
B. Riley Financial, Inc.		3,654		79,511
BGC Partners, Inc. “A”		57,020		156,235
Blucora, Inc.*		9,134		104,310
Brightsphere Investment Group, Inc.*		11,570		144,162
Cohen & Steers, Inc.		4,564		310,580
Cowen, Inc.		5,001		81,066
Diamond Hill Investment Group		564		64,110
Donnelley Financial Solutions, Inc.*		5,454		45,814
Federated Hermes, Inc. “B”		17,935		425,059
Focus Financial Partners, Inc. “A”*		5,875		194,169
Gain Capital Holdings, Inc.		3,505		21,100
GAMCO Investors, Inc. “A”		957		12,738
Greenhill & Co., Inc.		2,892		28,891
Hamilton Lane, Inc. “A”		4,133		278,440
Houlihan Lokey, Inc.		8,268		460,032
Moelis & Co. “A”		9,872		307,612
Oppenheimer Holdings, Inc. “A”		1,751		38,154
Piper Sandler Companies		3,256		192,625
PJT Partners, Inc. “A”		4,398		225,793
Pzena Investment Management, Inc. “A”		3,077		16,739
Safeguard Scientifics, Inc.		3,490		24,430
Sculptor Capital Management, Inc.		3,504		45,307
Siebert Financial Corp.*		2,244		11,355
Silvercrest Asset Management Group, Inc. “A”		1,608		20,438
Stifel Financial Corp.		12,470		591,452
Value Line, Inc.		187		5,047
Virtus Investment Partners, Inc.		1,373		159,666
Waddell & Reed Financial, Inc. “A” (a)		12,036		186,678
Westwood Holdings Group, Inc.		1,479		23,294
WisdomTree Investments, Inc.		27,195		94,367
				4,772,780
Consumer Finance 0.7%
Atlanticus Holdings Corp.*		928		9,596
Curo Group Holdings Corp.		3,408		27,843
Encore Capital Group, Inc.* (a)		5,875		200,808
Enova International, Inc.*		5,481		81,502
EZCORP, Inc. “A”*		9,415		59,315
FirstCash, Inc.		7,578		511,363
Green Dot Corp. “A”*		9,513		466,898

	Shares		Value ($)
Lendingclub Corp.*		13,274		60,397
Navient Corp.		35,748		251,308
Nelnet, Inc. “A”		3,301		157,590
Oportun Financial Corp.*		3,632		48,814
PRA Group, Inc.*		8,388		324,280
Regional Management Corp.*		1,560		27,628
World Acceptance Corp.*		897		58,771
				2,286,113
Diversified Financial Services 0.3%
A-mark Precious Metals, Inc.*		916		17,450
Alerus Financial Corp.		2,780		54,933
Banco Latinoamericano de Comercio Exterior SA “E”		5,938		68,287
Cannae Holdings, Inc.*		15,814		649,955
GWG Holdings, Inc.*		642		4,924
Marlin Business Services Corp.		1,586		13,418
Stonex Group, Inc.*		3,089		169,895
Swk Holdings Corp.*		653		7,823
				986,685
Insurance 2.2%
Ambac Financial Group, Inc.*		8,600		123,152
American Equity Investment Life Holding Co.		16,847		416,289
AMERISAFE, Inc.		3,594		219,809
Argo Group International Holdings Ltd.		6,024		209,816
Benefytt Technologies, Inc.* (a)		2,050		41,943
BRP Group, Inc.*		3,712		64,106
Citizens, Inc.* (a)		9,311		55,773
CNO Financial Group, Inc.		26,744		416,404
Crawford & Co. “A”		3,038		23,970
Donegal Group, Inc. “A”		1,923		27,345
eHealth, Inc.*		4,761		467,721
Employers Holdings, Inc.		5,591		168,569
Enstar Group Ltd.*		2,246		343,121
FBL Financial Group, Inc. “A”		1,857		66,648
FedNat Holding, Co.		2,451		27,133
Genworth Financial, Inc. “A”*		94,721		218,805
Global Indemnity Ltd.		1,416		33,899
Goosehead Insurance, Inc. “A”*		2,409		181,060
Greenlight Capital Re Ltd. “A”*		5,111		33,324
HCI Group, Inc.		1,086		50,151
Heritage Insurance Holdings, Inc.		4,636		60,685
Horace Mann Educators Corp.		7,761		285,062
Independence Holding Co.		889		27,194
Investors Title Co.		242		29,359
James River Group Holdings Ltd.		5,585		251,325
Kinsale Capital Group, Inc.		3,887		603,301
MBIA, Inc.* (a)		13,000		94,250
National General Holdings Corp.		12,760		275,744
National Western Life Group, Inc. “A”		479		97,328
NI Holdings, Inc.*		1,683		24,858
Palomar Holdings, Inc.*		3,603		308,993
ProAssurance Corp.		9,876		142,906
ProSight Global, Inc.*		1,658		14,756
Protective Insurance Corp. “B”		1,579		23,796
RLI Corp.		7,412		608,525
Safety Insurance Group, Inc.		2,714		206,970
Selective Insurance Group, Inc.		11,050		582,777
State Auto Financial Corp.		3,257		58,137
Stewart Information Services Corp.		4,360		141,744

The accompanying notes are an integral part of the financial statements.

DWS Small Cap Index VIP | 11

	Shares		Value ($)
Third Point Reinsurance Ltd.*		15,074		113,206
Tiptree, Inc.		4,324		27,890
Trupanion, Inc.* (a)		5,549		236,887
United Fire Group, Inc.		3,923		108,706
United Insurance Holdings Corp.		3,590		28,074
Universal Insurance Holdings, Inc.		5,260		93,365
Vericity, Inc.		465		4,943
Watford Holdings Ltd.*		3,139		52,390
				7,692,209
Mortgage Real Estate Investment Trusts (REITs) 1.3%
Anworth Mortgage Asset Corp.		18,024		30,641
Apollo Commercial Real Estate Finance, Inc.		28,967		284,166
Arbor Realty Trust, Inc.		19,253		177,898
Ares Commercial Real Estate Corp.		5,546		50,580
Arlington Asset Investment Corp. “A”		6,671		19,813
ARMOUR Residential REIT, Inc.		11,995		112,633
Blackstone Mortgage Trust, Inc.,“A”		25,786		621,185
Broadmark Realty Capital, Inc.		24,029		227,555
Capstead Mortgage Corp.		17,366		95,339
Cherry Hill Mortgage Investment Corp.		2,848		25,689
Chimera Investment Corp.		35,837		344,394
Colony Credit Real Estate, Inc.		15,714		110,312
Dynex Capital, Inc.		4,270		61,061
Ellington Financial, Inc.		7,704		90,753
Ellington Residential Mortgage REIT		1,675		17,252
Granite Point Mortgage Trust, Inc.		10,366		74,428
Great Ajax Corp.		3,849		35,411
Hannon Armstrong Sustainable Infrastructure Capital, Inc.		13,201		375,700
Invesco Mortgage Capital, Inc. (a)		34,519		129,101
KKR Real Estate Finance Trust, Inc.		5,331		88,388
Ladder Capital Corp.		19,556		158,404
MFA Financial, Inc.		84,758		211,047
New York Mortgage Trust, Inc.		70,502		184,010
Orchid Island Capital, Inc.		12,414		58,470
PennyMac Mortgage Investment Trust		18,627		326,531
Ready Capital Corp.		6,965		60,526
Redwood Trust, Inc.		21,184		148,288
TPG RE Finance Trust, Inc.		11,205		96,363
Two Harbors Investment Corp.		51,184		257,967
Western Asset Mortgage Capital Corp.		9,007		24,679
				4,498,584
Thrifts & Mortgage Finance 1.7%
Axos Financial, Inc.*		10,912		240,937
Bogota Financial Corp.*		1,088		9,509
Bridgewater Bancshares, Inc.*		4,096		41,984
Capitol Federal Financial, Inc.		24,793		272,971
Columbia Financial, Inc.*		9,170		127,967
ESSA Bancorp., Inc.		1,656		23,052
Essent Group Ltd.		20,269		735,157
Federal Agricultural Mortgage Corp. “C”		1,701		108,881
Flagstar Bancorp., Inc.		6,668		196,239
FS Bancorp, Inc.		707		27,269

	Shares		Value ($)
Greene County Bancorp., Inc.		571		12,733
Hingham Institution for Savings		273		45,804
Home Bancorp., Inc.		1,408		37,664
HomeStreet, Inc. (a)		4,286		105,478
Kearny Financial Corp.		14,097		115,313
Luther Burbank Corp.		3,695		36,950
Merchants Bancorp.		1,599		29,566
Meridian Bancorp., Inc.		8,930		103,588
Meta Financial Group, Inc.		6,304		114,544
MMA Capital Holdings, Inc.*		909		21,016
Mr Cooper Group, Inc.*		14,478		180,106
NMI Holdings, Inc. “A”*		12,547		201,756
Northfield Bancorp., Inc.		8,059		92,840
Northwest Bancshares, Inc.		21,954		224,480
Oconee Federal Financial Corp.		194		4,999
OP Bancorp.		2,318		15,994
PCSB Financial Corp.		2,806		35,580
PennyMac Financial Services, Inc.		8,673		362,445
Pioneer Bancorp. Inc.*		1,979		18,108
Ponce de Leon Federal Bank*		1,616		16,451
Premier Financial Corp.		7,008		123,831
Provident Bancorp, Inc.		1,687		13,260
Provident Financial Holdings, Inc.		1,084		14,536
Provident Financial Services, Inc.		11,341		163,877
Prudential Bancorp., Inc.		1,575		18,963
Radian Group, Inc.		35,753		554,529
Riverview Bancorp., Inc.		3,700		20,905
Security National Financial Corp. “A”*		1,695		11,433
Southern Missouri Bancorp., Inc.		1,509		36,669
Standard Avb Financial Corp.		719		16,681
Sterling Bancorp., Inc.		3,148		11,270
Territorial Bancorp., Inc.		1,551		36,898
Timberland Bancorp., Inc.		1,398		25,458
TrustCo Bank Corp.		17,561		111,161
Walker & Dunlop, Inc.		5,282		268,378
Washington Federal, Inc.		14,108		378,659
Waterstone Financial, Inc.		4,267		63,280
Western New England Bancorp, Inc.		4,291		24,845
WSFS Financial Corp.		9,315		267,340
				5,721,354
Health Care 20.1%
Biotechnology 10.6%
89bio, Inc.*		547		10,902
Abeona Therapeutics, Inc.*		11,128		32,438
ADMA Biologics, Inc.*		11,244		32,945
Aduro Biotech, Inc.*		11,642		26,893
Adverum Biotechnologies, Inc.*		13,636		284,720
Aeglea BioTherapeutics, Inc.*		7,841		72,529
Affimed NV*		13,800		63,687
Agenus, Inc.* (a)		25,850		101,590
Aimmune Therapeutics, Inc.* (a)		8,685		145,126
Akcea Therapeutics, Inc.*		3,081		42,210
Akebia Therapeutics, Inc.*		24,310		330,130
Akero Therapeutics, Inc.*		2,087		52,008
Albireo Pharma, Inc.*		2,487		65,881
Alector, Inc.*		8,642		211,210
Allakos, Inc.* (a)		4,548		326,819
Allogene Therapeutics, Inc.*		9,059		387,906
Amicus Therapeutics, Inc.*		47,599		717,793
AnaptysBio, Inc.*		4,003		89,427
Anavex Life Sciences Corp.* (a)		10,029		49,343

The accompanying notes are an integral part of the financial statements.

12 | DWS Small Cap Index VIP

	Shares		Value ($)
Anika Therapeutics, Inc.*		2,610		98,475
Apellis Pharmaceuticals, Inc.*		11,214		366,249
Applied Genetic Technologies Corp.*		4,364		24,177
Applied Therapeutics, Inc.*		2,489		89,977
Aprea Therapeutics, Inc.*		1,342		52,043
Aptinyx, Inc.*		4,594		19,157
Aravive, Inc.*		2,270		26,423
Arcturus Therapeutics Holdin C*		2,433		113,718
Arcus Biosciences, Inc.*		6,247		154,551
Arcutis Biotherapeutics, Inc.* (a)		1,768		53,464
Ardelyx, Inc.*		13,640		94,389
Arena Pharmaceuticals, Inc.*		10,516		661,982
Arrowhead Pharmaceuticals, Inc.*		18,749		809,769
Assembly Biosciences, Inc.*		5,732		133,670
Atara Biotherapeutics, Inc.*		10,735		156,409
Athenex, Inc.* (a)		13,753		189,241
Athersys, Inc.* (a)		32,368		89,336
Atreca, Inc.*		3,976		84,609
Aveo Pharmaceuticals, Inc.*		2,554		13,153
Avid Bioservices, Inc.*		10,374		68,105
Avrobio, Inc.*		5,768		100,652
Axcella Health, Inc.*		1,369		7,571
Beam Therapeutics, Inc.*		2,298		64,344
Beyondspring, Inc.*		2,517		37,956
BioCryst Pharmaceuticals, Inc.*		28,544		136,012
Biohaven Pharmaceutical Holding Co., Ltd.*		8,810		644,099
BioSpecifics Technologies Corp.*		1,202		73,659
Bioxcel Therapeutics, Inc.*		1,975		104,695
Black Diamond Therapeutics, Inc.* (a)		2,298		96,884
Blueprint Medicines Corp.*		10,132		790,296
Brainstorm Cell Therapeutics, Inc.*		4,968		55,691
Bridgebio Pharma, Inc.* (a)		13,601		443,529
Cabaletta Bio, Inc.*		2,416		26,914
Calithera Biosciences, Inc.*		12,297		64,928
Calyxt, Inc.*		1,724		8,499
CareDx, Inc.*		7,996		283,298
CASI Pharmaceuticals, Inc.* (a)		9,558		23,895
Castle Biosciences, Inc.*		1,953		73,609
Catabasis Pharmaceuticals, Inc.*		3,373		21,688
Catalyst Biosciences, Inc.*		3,253		19,095
Catalyst Pharmaceuticals, Inc.* (a)		18,279		84,449
CEL-SCI Corp* (a)		6,227		92,907
Cellular Biomedicine Group, Inc.*		2,420		36,227
Centogene NV*		759		17,366
Checkpoint Therapeutics, Inc.*		8,015		15,870
ChemoCentryx, Inc.*		8,303		477,755
Chimerix, Inc.*		9,756		30,244
Cidara Therapeutics, Inc.*		6,224		22,967
Clovis Oncology, Inc.* (a)		13,515		91,226
Cohbar, Inc.*		4,570		7,084
Coherus Biosciences, Inc.* (a)		10,818		193,209
Concert Pharmaceuticals, Inc.*		5,344		53,173
Constellation Pharmaceuticals, Inc.*		5,049		151,722
Contrafect Corp.*		2,523		16,122
Corbus Pharmaceuticals Holdings, Inc.* (a)		12,267		102,920
Cortexyme, Inc.*		2,937		135,983
Crinetics Pharmaceuticals, Inc.*		5,056		88,581
Cue Biopharma, Inc.*		5,175		126,839
Cyclerion Therapeutics, Inc.*		4,363		25,785

	Shares		Value ($)
Cytokinetics, Inc.*		10,533		248,263
CytomX Therapeutics, Inc.*		8,602		71,655
Deciphera Pharmaceuticals, Inc.*		6,986		417,204
Denali Therapeutics, Inc.*		11,742		283,922
Dermtech, Inc.Common Stock Npv*		1,520		20,110
Dicerna Pharmaceuticals, Inc.*		12,130		308,102
Dyadic International, Inc.*		3,593		31,115
Dynavax Technologies Corp.* (a)		16,694		148,076
Eagle Pharmaceuticals, Inc.*		2,037		97,735
Editas Medicine, Inc.* (a)		10,359		306,419
Eidos Therapeutics, Inc.*		1,997		95,197
Eiger BioPharmaceuticals, Inc.*		4,323		41,501
Emergent BioSolutions, Inc.*		8,337		659,290
Enanta Pharmaceuticals, Inc.*		3,581		179,802
Enochian Biosciences, Inc.* (a)		2,438		10,264
Epizyme, Inc.*		16,657		267,511
Esperion Therapeutics, Inc.* (a)		4,836		248,135
Evelo Biosciences, Inc.* (a)		2,496		12,230
Exicure, Inc.*		11,084		27,045
Fate Therapeutics, Inc.*		11,695		401,255
Fennec Pharmaceuticals, Inc.*		4,015		33,525
FibroGen, Inc.*		15,516		628,863
Five Prime Therapeutics, Inc.*		5,021		30,628
Flexion Therapeutics, Inc.*		6,362		83,660
Fortress Biotech, Inc.*		10,826		29,014
Frequency Therapeutics, Inc.* (a)		5,260		122,295
G1 Therapeutics, Inc.*		6,372		154,585
Galectin Therapeutics, Inc.* (a)		7,728		23,648
Galera Therapeutics, Inc.*		1,632		11,652
Genprex, Inc.*		5,341		16,771
Geron Corp.*		33,517		73,067
GlycoMimetics, Inc.*		5,874		22,086
Gossamer Bio, Inc.*		9,264		120,432
Gritstone Oncology, Inc.*		5,566		36,958
Halozyme Therapeutics, Inc.*		25,342		679,419
Harpoon Therapeutics, Inc.*		1,969		32,685
Heron Therapeutics, Inc.*		16,367		240,759
Homology Medicines, Inc.*		6,351		96,472
Hookipa Pharma, Inc.*		2,322		26,982
Ibio, Inc.*		8,971		19,916
Ideaya Biosciences, Inc.*		2,247		31,930
IGM Biosciences, Inc.*		1,324		96,652
Immunic, Inc.*		641		7,769
ImmunoGen, Inc.* (a)		32,474		149,380
Immunovant, Inc.*		3,562		86,735
Inovio Pharmaceuticals, Inc.*		26,865		724,012
Insmed, Inc.*		18,908		520,726
Intellia Therapeutics, Inc.* (a)		8,184		172,028
Intercept Pharmaceuticals, Inc.* (a)		4,842		231,980
Invitae Corp.*		21,559		653,022
Ironwood Pharmaceuticals, Inc.*		29,816		307,701
Iveric Bio, Inc.*		8,417		42,927
Jounce Therapeutics, Inc.*		3,490		24,081
Kadmon Holdings, Inc.*		29,761		152,376
KalVista Pharmaceuticals, Inc.*		2,557		30,940
Karuna Therapeutics, Inc.*		2,895		322,677
Karyopharm Therapeutics, Inc.*		13,091		247,944
Keros Therapeutics, Inc.*		1,298		48,688
Kezar Life Sciences, Inc.*		4,843		25,087
Kindred Biosciences, Inc.*		7,276		32,669
Kiniksa Pharmaceuticals Ltd. “A”*		3,550		90,454
Kodiak Sciences, Inc.*		5,387		291,544

The accompanying notes are an integral part of the financial statements.

DWS Small Cap Index VIP | 13

	Shares		Value ($)
Krystal Biotech, Inc.*		2,232		92,449
Kura Oncology, Inc.*		9,908		161,500
La Jolla Pharmaceutical Co.*		2,986		12,720
Lexicon Pharmaceuticals, Inc.* (a)		7,485		14,933
Ligand Pharmaceuticals, Inc.* (a)		2,692		301,100
LogicBio Therapeutics, Inc.*		2,256		19,086
MacroGenics, Inc.*		8,912		248,823
Madrigal Pharmaceuticals, Inc.* (a)		1,634		185,050
Magenta Therapeutics, Inc.*		3,113		23,379
MannKind Corp.* (a)		39,697		69,470
Marker Therapeutics, Inc.* (a)		5,003		10,356
MediciNova, Inc.* (a)		7,646		41,441
MEI Pharma, Inc.*		19,295		79,688
MeiraGTx Holdings PLC*		3,839		48,064
Mersana Therapeutics, Inc.*		8,562		200,351
Minerva Neurosciences, Inc.* (a)		5,484		19,797
Mirati Therapeutics, Inc.*		6,866		783,891
Mirum Pharmaceuticals, Inc.* (a)		1,065		20,725
Molecular Templates, Inc.*		4,525		62,400
Momenta Pharmaceuticals, Inc.*		22,015		732,439
Morphic Holding, Inc.* (a)		2,557		69,167
Mustang Bio, Inc.*		5,138		16,339
Myriad Genetics, Inc.*		13,206		149,756
NantKwest, Inc.*		5,363		65,858
Natera, Inc.*		13,029		649,626
Neoleukin Therapeutics, Inc.*		5,540		91,964
Neubase Therapeutics, Inc.*		3,214		28,219
Neurobo Pharmaceuticals, Inc.*		815		6,561
NextCure, Inc.*		3,079		66,014
Novavax, Inc.*		10,884		907,181
Nymox Pharmaceutical Corp.*		7,333		26,032
Oncocyte Corp.*		8,099		15,469
OPKO Health, Inc.* (a)		74,299		253,360
Organogenesis Holdings, Inc.*		3,792		14,561
Orgenesis, Inc.*		3,376		20,526
Oric Pharmaceuticals, Inc.*		1,625		54,811
Ovid therapeutics, Inc.*		7,983		58,835
Oyster Point Pharma, Inc.*		875		25,270
Passage Bio, Inc.*		2,536		69,309
PDL BioPharma, Inc.* (a)		21,505		62,580
Pfenex, Inc.*		6,434		53,724
PhaseBio Pharmaceuticals, Inc.*		2,535		11,661
Pieris Pharmaceuticals, Inc.*		8,549		26,502
Portola Pharmaceuticals, Inc.* (a)		14,668		263,877
Precigen, Inc.* (a)		12,708		63,413
Precision BioSciences, Inc.*		8,537		71,113
Prevail Therapeutics, Inc.*		2,689		40,066
Principia Biopharma, Inc.*		5,490		328,247
Protagonist Therapeutics, Inc.* (a)		4,217		74,472
Protara Therapeutics, Inc.*		374		10,966
Prothena Corp. PLC*		5,757		60,218
PTC Therapeutics, Inc.*		11,537		585,387
Puma Biotechnology, Inc.*		5,826		60,765
Radius Health, Inc.* (a)		8,431		114,915
RAPT Therapeutics, Inc.*		2,048		59,433
REGENXBIO, Inc.*		6,362		234,312
Replimune Group, Inc.*		3,212		79,818
Retrophin, Inc.*		7,724		157,647
Revolution Medicines, Inc.*		2,681		84,639
Rhythm Pharmaceuticals, Inc.*		6,280		140,044
Rigel Pharmaceuticals, Inc.*		32,955		60,308
Rocket Pharmaceuticals, Inc.*		6,360		133,115
Rubius Therapeutics, Inc.*		6,925		41,412

	Shares		Value ($)
Sangamo Therapeutics, Inc.*		21,364		191,421
Savara, Inc.*		8,661		21,566
Scholar Rock Holding Corp.*		4,243		77,265
Selecta Biosciences, Inc.*		12,686		36,028
Seres Therapeutics, Inc.*		8,198		39,022
Soleno Therapeutics, Inc.*		6,267		13,913
Solid Biosciences, Inc.* (a)		4,969		14,559
Sorrento Therapeutics, Inc.* (a)		32,757		205,714
Spectrum Pharmaceuticals, Inc.*		21,598		73,001
Spero Therapeutics, Inc.*		2,690		36,396
SpringWorks Therapeutics* (a)		3,955		166,110
Stoke Therapeutics, Inc.*		2,283		54,404
Sutro Biopharma, Inc.*		3,141		24,374
Syndax Pharmaceuticals, Inc.*		5,029		74,530
Syros Pharmaceuticals, Inc.*		7,750		82,615
TCR2 Therapeutics, Inc.*		3,044		46,756
TG Therapeutics, Inc.*		18,036		351,341
Translate Bio, Inc.*		9,450		169,344
Turning Point Therapeutics, Inc.*		5,227		337,612
Twist Bioscience Corp.*		5,577		252,638
Tyme Technologies, Inc.*		10,890		14,484
Ultragenyx Pharmaceutical, Inc.* (a)		10,593		828,584
UNITY Biotechnology, Inc.*		6,145		53,339
UroGen Pharma Ltd.* (a)		3,622		94,607
Vanda Pharmaceuticals, Inc.*		10,193		116,608
Vaxart, Inc.*		8,292		73,384
VBI Vaccines, Inc.*		32,820		101,742
Veracyte, Inc.*		9,334		241,751
Verastem, Inc.*		30,530		52,512
Vericel Corp.*		8,414		116,281
Viela Bio, Inc.*		3,733		161,714
Viking Therapeutics, Inc.* (a)		12,243		88,272
Vir Biotechnology, Inc.* (a)		8,645		354,186
Voyager Therapeutics, Inc.*		4,837		61,043
vTv Therapeutics, Inc. “A”*		2,058		4,631
X4 Pharmaceuticals, Inc.*		2,761		25,733
XBiotech, Inc.* (a)		2,658		36,441
Xencor, Inc.*		10,357		335,463
XOMA Corp.*		1,133		22,388
Y-mAbs Therapeutics, Inc.*		5,589		241,445
Zentalis Pharmaceuticals, Inc.*		1,927		92,535
ZIOPHARM Oncology, Inc.* (a)		39,832		130,649
				35,891,322
Health Care Equipment & Supplies 3.5%
Accelerate Diagnostics, Inc.* (a)		5,706		86,503
Accuray, Inc.*		16,213		32,912
Alphatec Holdings, Inc.*		8,327		39,137
AngioDynamics, Inc.*		6,642		67,549
Antares Pharma, Inc.*		31,278		86,015
Apyx Medical Corp.*		6,141		34,083
Aspira Women’s Health, Inc.*		8,766		33,661
AtriCure, Inc.*		7,286		327,506
Atrion Corp. (a)		261		166,260
Avanos Medical, Inc.*		8,828		259,455
AxoGen, Inc.*		6,815		62,971
Axonics Modulation Technologies, Inc.*		5,690		199,776
Bellerophon Therapeutics, Inc.*		642		8,057
Beyond Air, Inc.Common Stock*		2,449		17,755
BioLife Solutions, Inc.*		1,230		20,111
BioSig Technologies, Inc.* (a)		3,966		28,555
Cantel Medical Corp.		7,089		313,546

The accompanying notes are an integral part of the financial statements.

14 | DWS Small Cap Index VIP

	Shares		Value ($)
Cardiovascular Systems, Inc.*		6,451		203,529
Cerus Corp.*		30,277		199,828
Chembio Diagnostics, Inc.*		3,628		11,791
Co-diagnostics, Inc.*		4,846		93,770
CONMED Corp.		5,070		364,989
CryoLife, Inc.*		6,777		129,915
CryoPort, Inc.* (a)		6,265		189,516
Cutera, Inc.*		3,145		38,275
CytoSorbents Corp.* (a)		6,442		63,776
Electromed, Inc.*		1,301		20,022
FONAR Corp.*		1,185		25,323
GenMark Diagnostics, Inc.*		12,651		186,096
Glaukos Corp.*		7,903		303,633
Heska Corp.* (a)		1,282		119,444
Inogen, Inc.*		3,388		120,342
Integer Holdings Corp.*		6,114		446,628
IntriCon, Corp.*		1,565		21,159
Invacare Corp.		6,078		38,717
iRadimed Corp.*		1,111		25,786
iRhythm Technologies, Inc.*		5,054		585,708
Lantheus Holdings, Inc.*		12,531		179,193
LeMaitre Vascular, Inc.		3,083		81,391
LivaNova PLC*		9,131		439,475
Meridian Bioscience, Inc.*		7,833		182,431
Merit Medical Systems, Inc.*		10,125		462,206
Mesa Laboratories, Inc.		760		164,768
Milestone Scientific, Inc.*		6,529		12,732
Misonix, Inc.*		2,720		36,910
Natus Medical, Inc.*		6,375		139,103
Nemaura Medical, Inc.*		1,260		11,655
Neogen Corp.*		9,861		765,214
Nevro Corp.*		6,271		749,196
NuVasive, Inc.*		9,588		533,668
OraSure Technologies, Inc.*		11,446		133,117
Orthofix Medical, Inc.* (a)		3,444		110,208
OrthoPediatrics Corp.*		2,234		97,760
Pavmed, Inc.*		6,705		14,148
Pulse Biosciences, Inc.*		2,600		27,196
Quotient Ltd.*		11,309		83,687
Repro-med Systems, Inc.*		4,551		40,868
Retractable Technologies, Inc.*		2,470		17,339
Rockwell Medical, Inc.* (a)		12,932		25,217
RTI Surgical, Inc.*		10,287		32,713
SeaSpine Holdings Corp.*		4,908		51,387
Shockwave Medical, Inc.*		4,982		235,997
SI-BONE, Inc.*		4,747		75,667
Sientra, Inc.*		8,714		33,723
Silk Road Medical, Inc.*		5,938		248,743
Soliton, Inc.* (a)		1,120		8,714
STAAR Surgical Co.*		8,428		518,659
Stereotaxis, Inc.*		8,252		36,804
SurModics, Inc.*		2,432		105,160
Tactile Systems Technology, Inc.*		3,405		141,069
Tela Bio, Inc.*		1,016		13,167
TransMedics Group, Inc.*		3,702		66,340
Utah Medical Products, Inc. (a)		662		58,666
Vapotherm, Inc.*		3,580		146,744
Varex Imaging Corp.*		7,058		106,929
Venus Concept, Inc.*		3,480		12,145
ViewRay, Inc.*		19,819		44,395
Volitionrx Ltd.*		4,390		17,077
Wright Medical Group NV* (a)		24,040		714,469
Zynex, Inc.* (a)		3,097		77,022
				12,025,171

	Shares		Value ($)
Health Care Providers & Services 2.3%
1Life Healthcare, Inc.* (a)		3,984		144,699
Adapthealth Corp.*		1,466		23,603
Addus HomeCare Corp.*		2,581		238,897
American Renal Associates Holdings, Inc.*		2,554		16,652
AMN Healthcare Services, Inc.*		8,718		394,402
Apollo Medical Holdings, Inc.*		1,902		31,383
Avalon GloboCare Corp.* (a)		4,006		7,611
BioTelemetry, Inc.*		6,222		281,172
Brookdale Senior Living, Inc.*		34,473		101,695
Community Health Systems, Inc.*		16,151		48,615
CorVel Corp.*		1,643		116,472
Covetrus, Inc.*		18,339		328,085
Cross Country Healthcare, Inc.*		6,862		42,270
Enzo Biochem, Inc.*		8,562		19,179
Exagen, Inc.*		991		12,298
Five Star Senior Living, Inc.*		3,564		13,900
Fulgent Genetics, Inc.*		1,806		28,896
Hanger, Inc.*		6,984		115,655
HealthEquity, Inc.*		13,048		765,526
InfuSystems Holdings, Inc.*		2,700		31,158
LHC Group, Inc.*		5,671		988,569
Magellan Health, Inc.*		4,366		318,631
MEDNAX, Inc.*		15,523		265,443
National Healthcare Corp.		2,351		149,148
National Research Corp. “A”		2,531		147,330
Option Care Health, Inc.*		6,339		87,985
Owens & Minor, Inc. (a)		11,575		88,202
Patterson Companies, Inc. (a)		15,856		348,832
Pennant Group, Inc.*		4,846		109,520
PetIQ, Inc.*		3,842		133,855
Progyny, Inc.*		4,925		127,114
Providence Service Corp.*		2,260		178,337
R1 RCM, Inc.*		19,976		222,732
RadNet, Inc.*		7,991		126,817
Select Medical Holdings Corp.*		20,263		298,474
Sharps Compliance Corp.*		2,666		18,742
Surgery Partners, Inc.*		3,999		46,269
Tenet Healthcare Corp.*		19,530		353,688
The Ensign Group, Inc.		9,561		400,128
The Joint Corp.*		2,412		36,831
Tivity Health, Inc.*		8,083		91,580
Triple-S Management Corp. “B”*		4,318		82,128
U.S. Physical Therapy, Inc.		2,397		194,205
Viemed Healthcare, Inc.*		6,417		61,603
				7,638,331
Health Care Technology 1.0%
Allscripts Healthcare Solutions, Inc.*		30,029		203,297
Computer Programs & Systems, Inc.		2,408		54,878
Evolent Health, Inc. “A”*		14,102		100,406
Health Catalyst, Inc.* (a)		6,031		175,924
HealthStream, Inc.*		4,882		108,039
HMS Holdings Corp.*		16,480		533,787
Icad, Inc.*		3,756		37,523
Inovalon Holdings, Inc. “A”*		13,782		265,441
Inspire Medical Systems, Inc.*		4,889		425,441
NantHealth, Inc.*		5,014		22,964
NextGen Healthcare, Inc.*		10,208		112,084
Omnicell, Inc.*		7,939		560,652
Ontrack, Inc.*		1,530		37,852

The accompanying notes are an integral part of the financial statements.

DWS Small Cap Index VIP | 15

	Shares		Value ($)
OptimizeRx Corp.*		2,692		35,077
Phreesia, Inc.*		5,343		151,100
Schrodinger, Inc.* (a)		2,556		234,053
Simulations Plus, Inc.		2,356		140,936
Tabula Rasa HealthCare, Inc.* (a)		3,825		209,342
Vocera Communications, Inc.*		6,044		128,133
				3,536,929
Life Sciences Tools & Services 0.6%
Champions Oncology, Inc.*		1,345		12,858
ChromaDex Corp.*		7,218		33,131
Codexis, Inc.* (a)		9,856		112,358
Fluidigm Corp.*		13,721		55,021
Harvard Bioscience, Inc.*		7,061		21,889
Luminex Corp.		7,937		258,191
Medpace Holdings, Inc.*		5,074		471,983
NanoString Technologies, Inc.*		7,060		207,211
NeoGenomics, Inc.*		19,354		599,587
Pacific Biosciences of California, Inc.*		26,739		92,250
Personalis, Inc.*		3,725		48,313
Quanterix Corp.*		3,538		96,906
				2,009,698
Pharmaceuticals 2.1%
AcelRx Pharmaceuticals, Inc.*		14,440		17,472
Aerie Pharmaceuticals, Inc.* (a)		6,860		101,254
Agile Therapeutics, Inc.*		12,679		35,248
AMAG Pharmaceuticals, Inc.* (a)		5,897		45,112
Amneal Pharmaceuticals, Inc.*		18,535		88,227
Amphastar Pharmaceuticals, Inc.*		6,650		149,359
ANI Pharmaceuticals, Inc.*		1,795		58,050
Aquestive Therapeutics, Inc.*		3,711		18,035
Arvinas, Inc.*		5,462		183,196
Avenue Therapeutics, Inc.*		1,234		13,290
Axsome Therapeutics, Inc.*		5,173		425,634
Aytu Bioscience, Inc.*		4,291		6,093
BioDelivery Sciences International, Inc.*		16,597		72,363
Cara Therapeutics, Inc.* (a)		7,728		132,149
Cassava Sciences, Inc.*		4,311		13,278
Cerecor, Inc.*		5,898		15,335
Chiasma, Inc.*		6,588		35,443
Collegium Pharmaceutical, Inc.*		6,410		112,175
Corcept Therapeutics, Inc.*		17,972		302,289
CorMedix, Inc.* (a)		5,114		32,218
Cymabay Therapeutics, Inc.*		12,712		44,365
Durect Corp.*		36,901		85,610
Eloxx Pharmaceuticals, Inc.*		5,606		16,986
Endo International PLC*		41,872		143,621
Eton Pharmaceuticals, Inc.*		2,754		15,009
Evofem Biosciences, Inc.*		8,800		24,904
Evolus, Inc.* (a)		4,155		22,022
Fulcrum Therapeutics, Inc.*		2,397		43,841
Harrow Health, Inc.*		4,165		21,700
Imara, Inc.*		920		25,420
Innoviva, Inc.*		11,772		164,573
Intersect ENT, Inc.*		6,092		82,486
Intra-Cellular Therapies, Inc.*		10,273		263,708
Kala Pharmaceuticals, Inc.* (a)		7,385		77,616
Kaleido Biosciences, Inc.*		1,622		12,051
Lannett Co., Inc.*		5,888		42,747
Liquidia Technologies, Inc.*		3,806		32,047
Lyra Therapeutics, Inc.*		769		8,720
Mallinckrodt PLC* (a)		15,017		40,246

	Shares		Value ($)
Marinus Pharmaceuticals, Inc.*		14,965		38,011
Menlo Therapeutics, Inc.*		19,934		34,486
MyoKardia, Inc.*		9,282		896,827
NGM Biopharmaceuticals, Inc.*		4,375		86,363
Ocular Therapeutix, Inc.* (a)		9,577		79,776
Odonate Therapeutics, Inc.*		2,440		103,310
Omeros Corp.*		9,819		144,536
Optinose, Inc.*		5,767		42,906
Osmotica Pharmaceuticals PLC*		2,489		16,751
Pacira BioSciences, Inc.*		7,776		408,007
Paratek Pharmaceuticals, Inc.*		7,610		39,724
Phathom Pharmaceuticals, Inc.*		2,031		66,840
Phibro Animal Health Corp. “A”		3,811		100,115
Prestige Consumer Healthcare, Inc.*		9,412		353,515
Provention Bio, Inc.*		7,911		111,624
Recro Pharma, Inc.*		3,553		16,166
Relmada Therapeutics, Inc.*		2,623		117,379
Revance Therapeutics, Inc.*		10,605		258,974
Satsuma Pharmaceuticals, Inc.*		1,715		49,323
scPharmaceuticals, Inc.*		1,016		7,478
SIGA Technologies, Inc.*		10,026		59,254
Strongbridge Biopharma PLC*		6,681		25,254
Supernus Pharmaceuticals, Inc.*		9,207		218,666
TherapeuticsMD, Inc.* (a)		44,157		55,196
Theravance Biopharma, Inc.*		8,590		180,304
Tricida, Inc.*		5,284		145,204
Verrica Pharmaceuticals, Inc.*		2,378		26,182
WaVe Life Sciences Ltd.*		3,991		41,546
Xeris Pharmaceuticals, Inc.*		6,842		18,200
Zogenix, Inc.* (a)		10,384		280,472
				7,046,281
Industrials 14.2%
Aerospace & Defense 0.9%
AAR Corp.		6,210		128,361
Aerojet Rocketdyne Holdings, Inc.*		13,698		542,989
AeroVironment, Inc.*		4,043		321,944
Astronics Corp.*		4,496		47,478
Cubic Corp. (a)		5,874		282,128
Ducommun, Inc.*		2,051		71,518
Kaman Corp.		5,123		213,117
Kratos Defense & Security Solutions, Inc.*		19,760		308,849
Maxar Technologies, Inc.*		11,379		204,367
Moog, Inc. “A”		5,555		294,304
National Presto Industries, Inc.		934		81,622
Pae, Inc.*		11,026		105,408
Park Aerospace Corp.		3,539		39,424
Parsons Corp.*		4,233		153,404
Triumph Group, Inc.		9,626		86,730
Vectrus, Inc.*		2,136		104,942
				2,986,585
Air Freight & Logistics 0.3%
Air Transport Services Group, Inc.*		11,062		246,351
Atlas Air Worldwide Holdings, Inc.*		4,811		207,017
Bristow Group, Inc.*		1,398		19,474
Echo Global Logistics, Inc.*		4,802		103,819
Forward Air Corp.		5,178		257,968
Hub Group, Inc. “A”*		6,133		293,525

The accompanying notes are an integral part of the financial statements.

16 | DWS Small Cap Index VIP

	Shares		Value ($)
Radiant Logistics, Inc.*		6,951		27,318
				1,155,472
Airlines 0.3%
Allegiant Travel Co.		2,436		266,036
Hawaiian Holdings, Inc.		8,560		120,182
Mesa Air Group, Inc.*		5,331		18,339
SkyWest, Inc.		9,192		299,843
Spirit Airlines, Inc.* (a)		16,158		287,612
				992,012
Building Products 1.5%
AAON, Inc.		7,627		414,070
Advanced Drainage Systems, Inc.		9,226		455,764
Alpha Pro Tech Ltd.*		2,287		40,480
American Woodmark Corp.*		3,188		241,172
Apogee Enterprises, Inc.		4,909		113,103
Builders FirstSource, Inc.*		21,591		446,934
Caesarstone Ltd.		4,046		47,945
Cornerstone Building Brands, Inc.*		8,050		48,783
CSW Industrials, Inc.		2,631		181,828
Gibraltar Industries, Inc.*		6,118		293,725
Griffon Corp.		6,906		127,899
Insteel Industries, Inc.		3,481		66,383
JELD-WEN Holding, Inc.*		12,601		203,002
Masonite International Corp.*		4,569		355,377
Patrick Industries, Inc.		4,191		256,699
PGT Innovations, Inc.*		10,825		169,736
Quanex Building Products Corp.		6,120		84,946
Resideo Technologies, Inc.*		23,150		271,318
Simpson Manufacturing Co., Inc.		8,136		686,353
Ufp Industries, Inc.		11,165		552,779
				5,058,296
Commercial Services & Supplies 2.2%
ABM Industries, Inc.		12,532		454,912
Acco Brands Corp.		17,268		122,603
Advanced Disposal Services, Inc.*		13,791		416,074
Brady Corp. “A”		9,064		424,376
BrightView Holdings, Inc.*		5,967		66,830
Casella Waste Systems, Inc. “A”*		8,619		449,222
CECO Environmental Corp.*		5,409		35,645
Cimpress PLC*		3,323		253,678
CompX International, Inc.		395		5,459
Covanta Holding Corp. (a)		21,959		210,587
Deluxe Corp.		7,750		182,435
Ennis, Inc.		4,823		87,489
Harsco Corp.*		14,495		195,827
Healthcare Services Group, Inc.		14,025		343,051
Heritage-Crystal Clean, Inc.*		2,934		51,228
Herman Miller, Inc.		10,924		257,916
HNI Corp.		8,043		245,875
Interface, Inc.		11,009		89,613
KAR Auction Services, Inc.		24,147		332,263
Kimball International, Inc. “B”		6,551		75,730
Knoll, Inc.		9,449		115,183
Matthews International Corp. “A”		5,649		107,896
McGrath RentCorp.		4,519		244,071
Mobile Mini, Inc.		8,189		241,576
NL Industries, Inc.		1,487		5,071
PICO Holdings, Inc.*		3,409		28,738
Pitney Bowes, Inc.		32,413		84,274
Quad Graphics, Inc.		5,771		18,756
SP Plus Corp.*		4,324		89,550

	Shares		Value ($)
Steelcase, Inc. “A”		15,968		192,574
Team, Inc.*		5,479		30,518
Tetra Tech, Inc.		10,054		795,472
The Brink’s Co.		9,394		427,521
U.S. Ecology, Inc.		5,844		197,995
UniFirst Corp.		2,824		505,355
Viad Corp.		3,748		71,287
VSE Corp.		1,588		49,847
				7,506,497
Construction & Engineering 1.2%
Aegion Corp.*		5,769		91,554
Ameresco, Inc. “A”*		4,557		126,593
Api Group Corp. 144A*		26,128		317,455
Arcosa, Inc.		9,084		383,345
Argan, Inc.		2,730		129,347
Comfort Systems U.S.A., Inc.		6,717		273,718
Concrete Pumping Holdings, Inc.*		5,036		17,525
Construction Partners, Inc. “A”*		3,398		60,349
Dycom Industries, Inc.*		5,765		235,731
EMCOR Group, Inc.		10,153		671,519
Fluor Corp.		26,323		317,982
Granite Construction, Inc.		8,720		166,901
Great Lakes Dredge & Dock Corp.*		12,069		111,759
HC2 Holdings, Inc.*		8,153		27,231
IES Holdings, Inc.*		1,464		33,921
MasTec, Inc.*		10,585		474,949
MYR Group, Inc.*		3,069		97,932
Northwest Pipe Co.*		1,699		42,594
NV5 Holdings, Inc.*		1,976		100,440
Primoris Services Corp.		8,955		159,041
Sterling Construction Co., Inc.*		5,143		53,847
Tutor Perini Corp.*		7,623		92,848
Willscot Corp.*		10,165		124,928
				4,111,509
Electrical Equipment 0.9%
Allied Motion Technologies, Inc.		1,417		50,020
American Superconductor Corp.*		3,878		31,528
Atkore International Group, Inc.*		8,801		240,707
AZZ, Inc.		4,913		168,614
Bloom Energy Corp. “A”* (a)		15,897		172,959
Encore Wire Corp.		3,761		183,612
EnerSys		7,947		511,628
Fuelcell Energy, Inc.*		39,782		89,907
LSI Industries, Inc.		4,783		30,946
Orion Energy Systems, Inc.*		4,999		17,297
Plug Power, Inc.*		60,531		496,960
Powell Industries, Inc.		1,742		47,713
Preformed Line Products Co.		538		26,905
Sunrun, Inc.*		21,705		428,023
Thermon Group Holdings, Inc.*		6,045		88,076
TPI Composites, Inc.*		5,553		129,774
Ultralife Corp.*		1,701		11,924
Vicor Corp.* (a)		3,291		236,788
Vivint Solar, Inc.*		9,187		90,951
				3,054,332
Industrial Conglomerates 0.1%
Raven Industries, Inc.		6,575		141,428
Machinery 3.5%
Alamo Group, Inc.		1,846		189,473
Albany International Corp. “A”		5,708		335,117

The accompanying notes are an integral part of the financial statements.

DWS Small Cap Index VIP | 17

	Shares		Value ($)
Altra Industrial Motion Corp.		12,002		382,384
Astec Industries, Inc.		4,238		196,262
Barnes Group, Inc.		8,824		349,077
Blue Bird Corp.*		2,885		43,246
Chart Industries, Inc.*		6,701		324,931
CIRCOR International, Inc.*		3,737		95,219
Columbus McKinnon Corp.		4,395		147,013
Douglas Dynamics, Inc.		4,277		150,208
Energy Recovery, Inc.* (a)		7,083		53,795
Enerpac Tool Group Corp.		10,128		178,253
EnPro Industries, Inc.		3,883		191,393
ESCO Technologies, Inc.		4,809		406,505
Evoqua Water Technologies Corp.*		16,008		297,749
Federal Signal Corp.		11,256		334,641
Franklin Electric Co., Inc.		8,597		451,514
Gencor Industries, Inc.*		1,725		21,804
Gorman-Rupp Co.		3,250		101,010
Graham Corp.		1,799		22,919
Greenbrier Companies, Inc.		6,002		136,546
Helios Technologies, Inc.		5,422		201,969
Hillenbrand, Inc.		13,910		376,544
Hurco Companies, Inc.		1,178		32,949
Hyster-Yale Materials Handling, Inc.		1,814		70,129
John Bean Technologies Corp.		5,821		500,722
Kadant, Inc.		2,131		212,375
Kennametal, Inc.		15,514		445,407
L.B. Foster Co. “A”*		1,769		22,590
Lindsay Corp.		2,050		189,031
Luxfer Holdings PLC		5,276		74,655
Lydall, Inc.*		3,147		42,673
Manitowoc Co Inc/The*		6,561		71,384
Mayville Engineering Co., Inc.*		1,165		9,204
Meritor, Inc.*		12,984		257,083
Miller Industries, Inc.		2,101		62,547
Mueller Industries, Inc.		10,526		279,781
Mueller Water Products, Inc. “A”		29,327		276,554
Navistar International Corp.*		9,394		264,911
NN, Inc.		8,254		39,124
Omega Flex, Inc.		530		56,074
Park-Ohio Holdings Corp.		1,505		24,968
Proto Labs, Inc.*		5,013		563,812
RBC Bearings, Inc.*		4,602		616,852
REV Group, Inc.		5,437		33,166
Rexnord Corp.		19,939		581,222
Shyft Group Inc/the		6,358		107,069
SPX Corp.*		8,017		329,900
SPX FLOW, Inc.*		7,977		298,659
Standex International Corp.		2,301		132,423
Tennant Co.		3,448		224,154
Terex Corp.		12,577		236,070
The Eastern Co.		1,014		18,120
The ExOne Co.*		2,091		17,878
TriMas Corp.* (a)		8,059		193,013
Wabash National Corp.		9,914		105,287
Watts Water Technologies, Inc. “A”		5,136		416,016
Welbilt, Inc.*		24,205		147,408
				11,940,782
Marine 0.1%
Costamare, Inc.		9,348		51,975
Eagle Bulk Shipping, Inc.* (a)		7,643		16,738

	Shares		Value ($)
Genco Shipping & Trading Ltd.		3,543		22,250
Matson, Inc. (a)		7,961		231,665
Pangaea Logistics Solutions Ltd.*		2,016		5,060
Safe Bulkers, Inc.*		9,520		11,614
Scorpio Bulkers, Inc.		1,005		15,377
				354,679
Professional Services 1.3%
Acacia Research Corp.*		8,909		36,438
Akerna Corp.*		1,699		14,951
ASGN, Inc.*		9,517		634,594
Barrett Business Services, Inc.		1,403		74,541
BG Staffing, Inc.		1,876		21,236
CBIZ, Inc.*		9,425		225,917
CRA International, Inc.		1,343		53,049
Exponent, Inc.		9,588		775,957
Forrester Research, Inc.*		2,029		65,009
Franklin Covey Co.*		2,337		50,012
GP Strategies Corp.*		2,366		20,300
Heidrick & Struggles International, Inc.		3,593		77,681
Huron Consulting Group, Inc.*		4,258		188,416
ICF International, Inc.		3,423		221,913
Insperity, Inc.		6,779		438,805
Kelly Services, Inc. “A”		6,308		99,761
Kforce, Inc.		3,694		108,049
Korn/Ferry International		10,170		312,524
Mastech Holdings, Inc.*		724		18,773
Mistras Group, Inc.*		2,950		11,653
Red Violet, Inc.*		1,212		21,380
Resources Connection, Inc.		5,690		68,109
TriNet Group, Inc.*		7,696		468,994
TrueBlue, Inc.*		6,695		102,233
Upwork, Inc.*		17,337		250,346
Willdan Group, Inc.* (a)		1,863		46,594
				4,407,235
Road & Rail 0.6%
ArcBest Corp.		4,756		126,081
Avis Budget Group, Inc.*		9,837		225,169
Covenant Transportation Group, Inc. “A”*		2,308		33,304
Daseke, Inc.*		8,679		34,108
Heartland Express, Inc.		8,483		176,616
Hertz Global Holdings, Inc.* (a)		14,909		21,022
Marten Transport Ltd.		7,442		187,241
P.A.M. Transportation Services, Inc.*		333		10,240
Saia, Inc.*		4,910		545,894
U.S. Xpress Enterprises, Inc. “A”*		3,914		23,484
Universal Logistics Holdings, Inc.		1,444		25,097
Werner Enterprises, Inc.		11,388		495,720
				1,903,976
Trading Companies & Distributors 1.3%
Alta Equipment Group, Inc.*		3,173		24,654
Applied Industrial Technologies, Inc.		7,237		451,516
Beacon Roofing Supply, Inc.*		10,195		268,842
BMC Stock Holdings, Inc.*		12,610		317,015
CAI International, Inc.*		3,131		52,163
DXP Enterprises, Inc.*		3,151		62,736
EVI Industries, Inc.* (a)		839		18,215
Foundation Building Materials, Inc.*		3,948		61,628

The accompanying notes are an integral part of the financial statements.

18 | DWS Small Cap Index VIP

	Shares		Value ($)
GATX Corp.		6,521		397,651
General Finance Corp.*		1,969		13,212
GMS, Inc.*		7,774		191,163
H&E Equipment Services, Inc.		6,011		111,083
Herc Holdings, Inc.*		4,546		139,699
Lawson Products, Inc.*		770		24,840
MRC Global, Inc.*		14,792		87,421
Nesco Holdings, Inc.Common Stoc*		2,494		10,026
NOW, Inc.*		20,713		178,753
Rush Enterprises, Inc. “A”		5,067		210,078
Rush Enterprises, Inc. “B”		770		27,458
SiteOne Landscape Supply, Inc.*		7,805		889,536
Systemax, Inc.		2,247		46,153
Textainer Group Holdings Ltd.*		10,241		83,771
Titan Machinery, Inc.*		3,721		40,410
Transcat, Inc.*		1,293		33,437
Triton International Ltd.		9,533		288,278
Veritiv Corp.*		2,394		40,602
WESCO International, Inc.*		9,168		321,889
Willis Lease Finance Corp.*		491		11,922
				4,404,151
Information Technology 13.5%
Communications Equipment 0.9%
Acacia Communications, Inc.*		7,265		488,135
ADTRAN, Inc.		9,056		98,982
Applied Optoelectronics, Inc.* (a)		3,437		37,360
CalAmp Corp.*		6,339		50,775
Calix, Inc.*		9,102		135,620
Cambium Networks Corp.*		952		7,007
Casa Systems, Inc.*		5,871		24,423
Clearfield, Inc.*		2,163		30,195
Comtech Telecommunications Corp.		4,552		76,883
DASAN Zhone Solutions, Inc.*		2,261		20,191
Digi International, Inc.*		5,146		59,951
Extreme Networks, Inc.*		22,135		96,066
Genasys, Inc.*		6,143		29,855
Harmonic, Inc.*		17,781		84,460
Infinera Corp.* (a)		29,091		172,219
Inseego Corp.*		12,730		147,668
InterDigital, Inc.		5,722		324,037
KVH Industries, Inc.*		2,908		25,968
NETGEAR, Inc.*		5,347		138,434
NetScout Systems, Inc.*		13,208		337,597
PC-Tel, Inc.*		3,316		22,151
Plantronics, Inc. (a)		6,095		89,475
Resonant, Inc.*		9,298		21,664
Ribbon Communications, Inc.*		12,759		50,143
Viavi Solutions, Inc.*		42,815		545,463
				3,114,722
Electronic Equipment, Instruments & Components 2.2%
Akoustis Technologies, Inc.* (a)		5,677		47,062
Arlo Technologies, Inc.*		14,721		37,980
Badger Meter, Inc.		5,453		343,103
Bel Fuse, Inc. “B”		1,744		18,713
Belden, Inc.		8,257		268,765
Benchmark Electronics, Inc.		6,848		147,917
CTS Corp.		6,027		120,781
Daktronics, Inc.		6,822		29,676
ePlus, Inc.*		2,471		174,650
Fabrinet*		6,862		428,326

	Shares		Value ($)
FARO Technologies, Inc.*		3,322		178,059
Fitbit, Inc. “A”*		44,617		288,226
II-VI, Inc.*		16,800		793,296
Insight Enterprises, Inc.*		6,434		316,553
Intellicheck, Inc.*		2,978		22,484
Iteris, Inc.*		7,226		34,360
Itron, Inc.*		7,493		496,411
Kimball Electronics, Inc.*		4,366		59,116
Knowles Corp.*		16,572		252,889
Luna Innovations, Inc.*		5,412		31,606
Methode Electronics, Inc.		6,767		211,536
MTS Systems Corp.		3,655		64,292
Napco Security Technologies, Inc.* (a)		2,256		52,768
nLight, Inc.*		6,446		143,488
Novanta, Inc.*		6,390		682,260
OSI Systems, Inc.* (a)		3,158		235,713
PAR Technology Corp.* (a)		3,002		89,850
PC Connection, Inc.		2,065		95,733
Plexus Corp.*		5,374		379,190
Powerfleet, Inc.*		5,137		23,733
Research Frontiers, Inc.*		4,947		20,085
Rogers Corp.*		3,484		434,106
Sanmina Corp.*		12,558		314,452
ScanSource, Inc.*		4,734		114,042
TTM Technologies, Inc.*		18,782		222,755
Vishay Intertechnology, Inc.		24,667		376,665
Vishay Precision Group, Inc.*		2,334		57,370
Wrap Technologies, Inc.* (a)		2,132		22,343
				7,630,354
IT Services 2.0%
Brightcove, Inc.*		7,598		59,872
Cardtronics PLC “A”*		6,630		158,987
Cass Information Systems, Inc.		2,634		102,805
Conduent, Inc.*		29,970		71,628
CSG Systems International, Inc.		6,063		250,948
Endurance International Group Holdings, Inc.*		12,326		49,674
EVERTEC, Inc.		11,186		314,327
Evo Payments, Inc. “A”*		7,672		175,152
Exlservice Holdings, Inc.*		6,243		395,806
Greensky, Inc. “A”*		11,627		56,972
Grid Dynamics Holdings, Inc.*		4,098		28,276
GTT Communications, Inc.* (a)		5,948		48,536
I3 Verticals, Inc. “A”*		2,765		83,641
Information Services Group, Inc.*		5,870		12,151
International Money Express, Inc.*		2,498		31,125
KBR, Inc.		26,594		599,695
Limelight Networks, Inc.*		21,384		157,386
LiveRamp Holdings, Inc.*		12,254		520,427
ManTech International Corp. “A”		5,080		347,929
MAXIMUS, Inc.		11,431		805,314
MoneyGram International, Inc.*		11,623		37,310
NIC, Inc.		12,287		282,110
Paysign, Inc.* (a)		5,502		53,424
Perficient, Inc.*		6,124		219,117
Perspecta, Inc.		26,031		604,700
PFSweb, Inc.*		2,616		17,475
Priority Technology Holdings, Inc.*		1,214		3,144
Repay Holdings Corp. Common Sto*		6,832		168,272

The accompanying notes are an integral part of the financial statements.

DWS Small Cap Index VIP | 19

	Shares		Value ($)
ServiceSource International, Inc.*		16,307		25,765
StarTek, Inc.*		2,999		15,235
Sykes Enterprises, Inc.*		7,328		202,693
The Hackett Group, Inc.		4,501		60,944
TTEC Holdings, Inc.		3,399		158,257
Tucows, Inc. “A”*		1,790		102,603
Unisys Corp.*		11,569		126,218
Verra Mobility Corp.*		24,985		256,846
Virtusa Corp.*		5,335		173,227
				6,777,991
Semiconductors & Semiconductor Equipment 2.8%
Advanced Energy Industries, Inc.*		7,081		480,021
Alpha & Omega Semiconductor Ltd.*		3,567		38,809
Ambarella, Inc.*		6,184		283,227
Amkor Technology, Inc.*		18,648		229,557
Atomera, Inc.*		2,676		24,084
Axcelis Technologies, Inc.*		6,161		171,584
AXT, Inc.*		7,189		34,220
Brooks Automation, Inc.		13,575		600,558
Cabot Microelectronics Corp.		5,423		756,725
CEVA, Inc.*		4,066		152,150
Cohu, Inc.		7,802		135,287
CyberOptics Corp.*		1,311		42,227
Diodes, Inc.*		7,919		401,493
DSP Group, Inc.*		4,016		63,774
FormFactor, Inc.*		14,255		418,099
GSI Technology, Inc.*		2,812		20,190
Ichor Holdings Ltd.*		4,143		110,121
Impinj, Inc.*		3,187		87,547
Lattice Semiconductor Corp.* (a)		25,110		712,873
MACOM Technology Solutions Holdings, Inc.*		8,779		301,559
MaxLinear, Inc.*		12,420		266,533
NeoPhotonics Corp.*		9,016		80,062
NVE Corp.		897		55,461
Onto Innovation, Inc.*		8,814		300,029
PDF Solutions, Inc.* (a)		5,348		104,607
Photronics, Inc.*		11,793		131,256
Pixelworks, Inc.*		7,113		22,975
Power Integrations, Inc.		5,507		650,542
Rambus, Inc.*		21,211		322,407
Semtech Corp.*		12,065		630,034
Silicon Laboratories, Inc.*		8,100		812,187
SiTime Corp.*		941		44,613
SMART Global Holdings, Inc.*		2,716		73,821
SunPower Corp.* (a)		14,542		111,392
Synaptics, Inc.*		6,378		383,445
Ultra Clean Holdings, Inc.*		7,376		166,919
Veeco Instruments, Inc.*		9,076		122,435
				9,342,823
Software 5.4%
8x8, Inc.*		18,997		303,952
A10 Networks, Inc.*		11,550		78,656
ACI Worldwide, Inc.*		21,426		578,288
Agilysys, Inc.*		3,383		60,691
Alarm.com Holdings, Inc.*		8,460		548,293
Altair Engineering, Inc. “A”*		7,847		311,918
American Software, Inc. “A”		5,659		89,186
Appfolio, Inc. “A”*		2,985		485,689
Appian Corp.* (a)		6,137		314,521
Asure Software, Inc.*		2,553		16,416
Avaya Holdings Corp.*		17,327		214,162

	Shares		Value ($)
Benefitfocus, Inc.*		5,313		57,168
Blackbaud, Inc.		9,242		527,533
Blackline, Inc.*		9,371		776,950
Bottomline Technologies de, Inc.*		8,070		409,714
Box, Inc. “A”*		27,560		572,146
Cerence, Inc.*		6,866		280,407
ChannelAdvisor Corp.*		5,154		81,639
Cloudera, Inc.* (a)		38,264		486,718
CommVault Systems, Inc.*		7,772		300,776
Cornerstone OnDemand, Inc.*		11,340		437,270
Digimarc Corp.*		2,342		37,449
Digital Turbine, Inc.* (a)		15,387		193,415
Domo, Inc. “B”*		4,763		153,226
Ebix, Inc. (a)		4,937		110,391
eGain Corp.*		3,696		41,063
Envestnet, Inc.*		9,920		729,517
ForeScout Technologies, Inc.*		8,984		190,461
Globalscape, Inc.		2,675		26,081
GTY Technology Holdings, Inc.*		8,334		34,711
Intelligent Systems Corp.*		1,401		47,746
j2 Global, Inc.		8,685		548,979
LivePerson, Inc.*		11,382		471,556
Majesco*		1,211		9,518
MicroStrategy, Inc. “A”*		1,460		172,703
Mimecast Ltd.*		10,547		439,388
Mitek Systems, Inc.*		7,567		72,719
MobileIron, Inc.*		17,561		86,576
Model N, Inc.*		6,370		221,421
OneSpan, Inc.*		6,141		171,518
Park City Group, Inc.*		2,342		9,907
Ping Identity Holding Corp.* (a)		2,982		95,692
Progress Software Corp.		8,385		324,919
PROS Holdings, Inc.*		7,338		326,027
Q2 Holdings, Inc.*		9,267		795,016
QAD, Inc. “A”		2,120		87,514
Qualys, Inc.*		6,361		661,671
Rapid7, Inc.*		9,412		480,200
Rimini Street, Inc.*		3,637		18,731
Rosetta Stone, Inc.*		4,385		73,931
SailPoint Technologies Holding, Inc.*		16,447		435,352
Sapiens International Corp. NV		4,791		134,052
Seachange International, Inc.*		5,763		8,702
SecureWorks Corp. “A”*		1,587		18,139
ShotSpotter, Inc.*		1,482		37,346
Smith Micro Software, Inc.*		6,276		27,991
Sprout Social, Inc. “A”*		1,412		38,124
SPS Commerce, Inc.*		6,575		493,914
SVMK, Inc.*		22,276		524,377
Synchronoss Technologies, Inc.*		7,059		24,918
TeleNav, Inc.*		6,158		33,807
Tenable Holdings, Inc.*		11,383		339,327
Upland Software, Inc.* (a)		4,262		148,147
Varonis Systems, Inc.*		5,822		515,131
Verint Systems, Inc.*		11,984		541,437
Veritone, Inc.*		4,294		63,809
Virnetx Holding Corp. (a)		11,749		76,369
Workiva, Inc.*		7,177		383,898
Xperi Holding Corp.		20,071		296,248
Yext, Inc.*		18,901		313,946
Zix Corp.*		10,218		70,504
Zuora, Inc. “A”*		18,270		232,943
				18,322,620

The accompanying notes are an integral part of the financial statements.

20 | DWS Small Cap Index VIP

	Shares		Value ($)
Technology Hardware, Storage & Peripherals 0.2%
3D Systems Corp.* (a)		21,450		149,936
Avid Technology, Inc.*		5,929		43,104
Diebold Nixdorf, Inc.*		12,944		78,441
Eastman Kodak Co.*		2,896		6,458
Immersion Corp.*		3,389		21,113
Intevac, Inc.*		4,316		23,565
Quantum Corp.*		5,472		21,122
Super Micro Computer, Inc.*		8,308		235,864
				579,603
Materials 3.9%
Chemicals 1.7%
Advanced Emissions Solutions, Inc.		3,155		15,302
AdvanSix, Inc.*		4,949		58,101
AgroFresh Solutions, Inc.*		5,534		16,768
American Vanguard Corp.		5,355		73,685
Amyris, Inc.* (a)		13,102		55,946
Balchem Corp.		6,033		572,290
Chase Corp.		1,355		138,887
Ferro Corp.*		15,225		181,786
FutureFuel Corp.		5,037		60,192
GCP Applied Technologies, Inc.*		9,122		169,487
H.B. Fuller Co.		9,633		429,632
Hawkins, Inc.		1,844		78,518
Ingevity Corp.*		7,736		406,682
Innospec, Inc.		4,583		354,037
Intrepid Potash, Inc.*		17,507		17,332
Koppers Holdings, Inc.*		3,841		72,364
Kraton Corp.*		5,678		98,116
Kronos Worldwide, Inc.		4,054		42,202
Livent Corp.* (a)		27,308		168,217
Marrone Bio Innovations, Inc.*		14,896		17,428
Minerals Technologies, Inc.		6,366		298,756
Orion Engineered Carbons SA		11,259		119,233
PolyOne Corp.		16,971		445,149
PQ Group Holdings, Inc.*		7,265		96,189
Quaker Chemical Corp.		2,482		460,783
Rayonier Advanced Materials, Inc.		11,595		32,582
Sensient Technologies Corp.		7,973		415,872
Stepan Co.		4,024		390,730
Trecora Resources*		4,817		30,203
Tredegar Corp.		4,915		75,691
Trinseo SA		7,074		156,760
Tronox Holdings PLC “A”*		17,022		122,899
				5,671,819
Construction Materials 0.1%
Forterra, Inc.*		3,722		41,538
Summit Materials, Inc. “A”*		21,992		353,631
U.S. Concrete, Inc.*		3,060		75,888
United States Lime & Minerals, Inc.		377		31,834
				502,891
Containers & Packaging 0.2%
Greif, Inc. “A”		4,862		167,301
Greif, Inc. “B”		1,062		44,424
Myers Industries, Inc.		6,694		97,398
O-i Glass, Inc.		29,280		262,934
Ranpak Holdings Corp. Common St*		5,373		39,975
UFP Technologies, Inc.*		1,287		56,705
				668,737

	Shares		Value ($)
Metals & Mining 1.4%
Alcoa Corp.*		35,036		393,805
Allegheny Technologies, Inc.*		23,855		243,082
Arconic Corp.*		18,610		259,237
Caledonia Mining Corp. PLC		2,096		36,303
Carpenter Technology Corp.		8,879		215,582
Century Aluminum Co.*		9,508		67,792
Cleveland-Cliffs, Inc. (a)		73,806		407,409
Coeur Mining, Inc.*		45,297		230,109
Commercial Metals Co.		22,227		453,431
Compass Minerals International, Inc.		6,356		309,855
Ferroglobe Representation & Warranty Insurance Trust (Beneficial Units) (b)		12,466		0
Gold Resource Corp.		12,566		51,646
Haynes International, Inc. (a)		2,331		54,452
Hecla Mining Co.		97,852		319,976
Kaiser Aluminum Corp.		2,903		213,719
Materion Corp.		3,755		230,895
Novagold Resources, Inc.*		44,415		407,730
Olympic Steel, Inc.		1,747		20,527
Ryerson Holding Corp.*		2,757		15,522
Schnitzer Steel Industries, Inc. “A”		4,930		86,965
SunCoke Energy, Inc.		15,578		46,111
TimkenSteel Corp.*		7,873		30,626
United States Steel Corp.		40,977		295,854
Warrior Met Coal, Inc.		9,631		148,221
Worthington Industries, Inc.		6,946		259,086
				4,797,935
Paper & Forest Products 0.5%
Boise Cascade Co.		7,260		273,049
Clearwater Paper Corp.*		3,051		110,233
Domtar Corp.		10,281		217,032
Louisiana-Pacific Corp.		21,165		542,882
Neenah, Inc.		3,103		153,474
P.H. Glatfelter Co. (a)		8,086		129,780
Schweitzer-Mauduit International, Inc.		5,870		196,117
Verso Corp. “A”		6,654		79,582
				1,702,149
Real Estate 6.9%
Equity Real Estate Investment Trusts (REITs) 6.2%
Acadia Realty Trust		15,811		205,227
Agree Realty Corp.		9,926		652,237
Alexander & Baldwin, Inc.		13,592		165,686
Alexander’s, Inc.		393		94,674
Alpine Income Property Trust, Inc.		1,264		20,553
American Assets Trust, Inc.		9,401		261,724
American Finance Trust, Inc.		20,698		164,239
Armada Hoffler Properties, Inc.		10,475		104,226
Bluerock Residential Growth REIT, Inc.		4,525		36,562
BRT Apartments Corp.		1,928		20,861
CareTrust REIT, Inc.		17,833		306,014
CatchMark Timber Trust, Inc. “A”		9,262		81,969
Chatham Lodging Trust		9,013		55,160
CIM Commercial Trust Corp.		1,935		20,859
City Office REIT, Inc.		8,749		88,015
Clipper Realty, Inc.		2,541		20,582
Colony Capital, Inc.		90,738		217,771
Columbia Property Trust, Inc.		21,403		281,235

The accompanying notes are an integral part of the financial statements.

DWS Small Cap Index VIP | 21

	Shares		Value ($)
Community Healthcare Trust, Inc.		3,931		160,778
CoreCivic, Inc.		22,297		208,700
CorEnergy Infrastructure Trust, Inc.		2,726		24,943
CorePoint Lodging, Inc.		7,385		31,091
DiamondRock Hospitality Co.		37,466		207,187
Diversified Healthcare Trust		44,335		196,182
Easterly Government Properties, Inc.		14,086		325,668
EastGroup Properties, Inc.		7,214		855,653
Essential Properties Realty Trust, Inc.		17,028		252,696
Farmland Partners, Inc.		5,124		35,099
Four Corners Property Trust, Inc.		13,127		320,299
Franklin Street Properties Corp.		19,748		100,517
Front Yard Residential Corp.		9,154		79,640
Getty Realty Corp.		6,351		188,498
Gladstone Commercial Corp.		6,360		119,250
Gladstone Land Corp.		3,517		55,780
Global Medical REIT, Inc.		7,591		86,006
Global Net Lease, Inc.		16,823		281,449
Healthcare Realty Trust, Inc.		25,221		738,723
Hersha Hospitality Trust		6,188		35,643
Independence Realty Trust, Inc.		17,672		203,051
Industrial Logistics Properties Trust		12,208		250,874
Innovative Industrial Properties, Inc.		3,117		274,358
Investors Real Estate Trust		2,271		160,083
iStar, Inc.		13,840		170,509
Jernigan Capital, Inc.		4,003		54,761
Kite Realty Group Trust		15,511		178,997
Lexington Realty Trust		47,769		503,963
LTC Properties, Inc.		7,253		273,221
Mack-Cali Realty Corp.		16,970		259,471
Monmouth Real Estate Investment Corp.		17,831		258,371
National Health Investors, Inc.		8,037		488,007
National Storage Affiliates Trust		11,552		331,080
New Senior Investment Group, Inc.		14,659		53,066
NexPoint Residential Trust, Inc.		4,040		142,814
Office Properties Income Trust		9,026		234,405
One Liberty Properties, Inc.		2,995		52,772
Pebblebrook Hotel Trust		24,188		330,408
Physicians Realty Trust		37,907		664,131
Piedmont Office Realty Trust, Inc. “A”		23,640		392,660
Plymouth Industrial Reit, Inc.		2,749		35,187
PotlatchDeltic Corp.		12,181		463,243
Preferred Apartment Communities, Inc. “A”		8,958		68,081
PS Business Parks, Inc.		3,760		497,824
QTS Realty Trust, Inc. “A”		11,216		718,833
Retail Opportunity Investments Corp.		21,540		244,048
Retail Properties of America, Inc. “A”		40,071		293,320
Retail Value, Inc.		3,076		38,019
RLJ Lodging Trust		30,674		289,563
RPT Realty		15,334		106,725
Ryman Hospitality Properties, Inc.		9,427		326,174
Sabra Health Care REIT, Inc.		38,374		553,737
Safehold, Inc.		3,225		185,405

	Shares		Value ($)
Saul Centers, Inc.		2,225		71,801
Seritage Growth Properties “A”* (a)		6,501		74,111
Service Properties Trust		30,628		217,153
SITE Centers Corp.		28,622		231,838
STAG Industrial, Inc.		27,983		820,462
Summit Hotel Properties, Inc.		18,884		111,982
Sunstone Hotel Investors, Inc.		40,176		327,434
Tanger Factory Outlet Centers, Inc. (a)		16,880		120,354
Terreno Realty Corp.		12,446		655,157
The Geo Group, Inc.		21,849		258,474
The Macerich Co.		26,517		237,858
UMH Properties, Inc.		6,822		88,208
Uniti Group, Inc.		36,097		337,507
Universal Health Realty Income Trust		2,402		190,935
Urban Edge Properties		21,871		259,609
Urstadt Biddle Properties “A”		5,417		64,354
Washington Real Estate Investment Trust		15,350		340,770
Whitestone REIT		7,288		52,984
Xenia Hotels & Resorts, Inc.		21,176		197,572
				20,857,120
Real Estate Management & Development 0.7%
Altisource Portfolio Solutions SA*		683		10,067
American Realty Investors, Inc.*		447		4,019
Cto Realty Growth, Inc.		809		31,956
Cushman & Wakefield PLC* (a)		20,641		257,187
EXP World Holdings, Inc.* (a)		4,445		75,787
Forestar Group, Inc.*		3,265		49,236
FRP Holdings, Inc.*		1,235		50,116
Griffin Land & Nurseries, Inc.		477		25,839
Kennedy-Wilson Holdings, Inc.		22,948		349,269
Marcus & Millichap, Inc.*		4,292		123,867
Maui Land & Pineapple Co., Inc.*		1,307		14,508
Newmark Group, Inc. “A”		26,985		131,147
Rafael Holdings, Inc. “B”*		1,586		22,791
RE/MAX Holdings, Inc. “A”		3,367		105,825
Realogy Holdings Corp.		21,417		158,700
Redfin Corp.*		17,919		750,985
Stratus Properties, Inc.*		1,152		22,821
Tejon Ranch Co.*		4,078		58,723
The RMR Group, Inc. “A”		2,877		84,785
The St. Joe Co.* (a)		6,175		119,918
Transcontinental Realty Investors, Inc.*		292		8,766
				2,456,312
Utilities 3.6%
Electric Utilities 0.9%
ALLETE, Inc.		9,752		532,557
El Paso Electric Co.		7,628		511,076
Genie Energy Ltd. “B”		2,658		19,563
MGE Energy, Inc.		6,508		419,831
Otter Tail Corp.		7,509		291,274
PNM Resources, Inc.		14,780		568,143
Portland General Electric Co.		16,824		703,412
Spark Energy, Inc. “A”		2,257		15,957
				3,061,813
Gas Utilities 1.2%
Brookfield Infrastructure Corp.		6,076		276,701
Chesapeake Utilities Corp. (a)		3,029		254,436

The accompanying notes are an integral part of the financial statements.

22 | DWS Small Cap Index VIP

	Shares		Value ($)
New Jersey Resources Corp.		17,859		583,096
Northwest Natural Holding Co.		5,696		317,780
ONE Gas, Inc.		9,803		755,321
RGC Resources, Inc.		1,518		36,690
South Jersey Industries, Inc.		17,223		430,403
Southwest Gas Holdings, Inc.		10,321		712,665
Spire, Inc.		9,383		616,557
				3,983,649
Independent Power & Renewable Electricity Producers 0.4%
Atlantic Power Corp.*		17,060		34,120
Clearway Energy, Inc. “A” (a)		6,539		137,123
Clearway Energy, Inc. “C”		14,862		342,718
Ormat Technologies, Inc.		7,475		474,588
Sunnova Energy International, Inc.*		6,050		103,273
TerraForm Power, Inc. “A”		16,378		302,010
				1,393,832
Multi-Utilities 0.5%
Avista Corp.		12,589		458,114
Black Hills Corp.		11,761		666,378
NorthWestern Corp.		9,506		518,267
Unitil Corp.		2,773		124,286
				1,767,045
Water Utilities 0.6%
American States Water Co.		6,890		541,761
Artesian Resources Corp. “A”		1,500		54,435
Cadiz, Inc.*		3,724		37,836
California Water Service Group		9,108		434,451
Consolidated Water Co., Ltd.		2,551		36,811
Global Water Resources, Inc.		2,526		26,624
Middlesex Water Co.		3,203		215,177
Pure Cycle Corp.*		3,525		32,395
SJW Group		4,903		304,525
York Water Co.		2,383		114,289
				1,798,304
Total Common Stocks (Cost $313,572,094)				330,391,221
Rights 0.0%
Health Care
GTX, Inc.* (a) (b)		123		252
Omthera Pharmaceutical, Inc.* (b)		1,167		700
Tobira Therapeutics, Inc.* (b)		1,687		102
Total Rights (Cost $355)				1,054

	Shares			Value ($)
Warrants 0.0%
Health Care
Pulse Biosciences, Inc, Expiration Date 5/14/2025* (b) (Cost $0)		66			500
	Principal Amount ($)			Value ($)
Government & Agency Obligations 0.4%
U.S. Treasury Obligation
U.S. Treasury Bill, 1.47% **, 7/16/2020 (c) (Cost $1,519,069)		1,520,000			1,519,919
	Shares			Value ($)
Securities Lending Collateral 4.1%
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 0.05% (d) (e) (Cost $13,979,922)		13,979,922			13,979,922
Cash Equivalents 1.5%
DWS Central Cash Management Government Fund, 0.12% (d) (Cost $5,045,953)		5,045,953			5,045,953
	% of Net Assets			Value ($)
Total Investment Portfolio (Cost $334,117,393)		103.6			350,938,569
Other Assets and Liabilities, Net		(3.6	)		(12,277,030	)
Net Assets		100.0			338,661,539

A summary of the Fund’s transactions with affiliated investments during the period ended June 30, 2020 are as follows:

Value ($) at 12/31/2019	Purchases Cost ($)		Sales Proceeds ($)			Net Realized Gain/ (Loss) ($)		Net Change in Unrealized Appreciation (Depreciation) ($)		Income ($)		Capital Gain Distributions ($)		Number of Shares at 6/30/2020		Value ($) at 6/30/2020
Securities Lending Collateral 4.1%
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 0.05% (d) (e)
14,803,664		—		823,742	(f)		—		—		196,169		—		13,979,922		13,979,922
Cash Equivalents 1.5%
DWS Central Cash Management Government Fund, 0.12% (d)
5,850,788		85,526,713		86,331,548			—		—		22,706		—		5,045,953		5,045,953
20,654,452		85,526,713		87,155,290			—		—		218,875		—		19,025,875		19,025,875

* Non-income producing security.

The accompanying notes are an integral part of the financial statements.

DWS Small Cap Index VIP | 23

** Annualized yield at time of purchase; not a coupon rate.

(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, 2020 amounted to $20,102,251, which is 5.9% of net assets.

(b) Investment was valued using significant unobservable inputs.

(c) At June 30, 2020, 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. In addition, the Fund held non-cash U.S. Treasury securities collateral having a value of $6,895,104.

(f) Represents the net increase (purchase cost) or decrease (sales proceeds) in the amount invested in cash collateral for the period ended June 30, 2020.

144A: Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers.

At June 30, 2020, open futures contracts purchased were as follows:

Futures

Currency

Expiration Date

Contracts

Notional Amount ($)

Notional Value ($)

Unrealized Appreciation ($)

Russell E Mini 2000 Index

USD

9/18/2020

109

7,532,144

7,834,920

302,776

Currency Abbreviation

USD United States Dollar

For information on the Fund’s policy and additional disclosures regarding futures contracts, please refer to the Derivatives section of Note B in the accompanying Notes to Financial Statements

Fair Value Measurements

Various inputs are used in determining the value of the Fund’s investments. These inputs are summarized in three broad levels. Level 1 includes quoted prices in active markets for identical securities. Level 2 includes other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds and credit risk). Level 3 includes significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments). The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities.

The following is a summary of the inputs used as of June 30, 2020 in valuing the Fund’s investments. For information on the Fund’s policy regarding the valuation of investments, please refer to the Security Valuation section of Note A in the accompanying Notes to Financial Statements.

Assets	Level 1		Level 2		Level 3		Total
Common Stocks (g)	$	330,391,221	$	—	$	0	$	330,391,221
Rights (g)		—		—		1,054		1,054
Warrants		—		—		500		500
Government & Agency Obligation		—		1,519,919		—		1,519,919
Short-Term Investments (g)		19,025,875		—		—		19,025,875
Derivatives (h)
Futures Contracts		302,776		—		—		302,776
Total	$	349,719,872	$	1,519,919	$	1,554	$	351,241,345

(g) See Investment Portfolio for additional detailed categorizations.

(h) Derivatives include unrealized appreciation (depreciation) on open futures contracts.

The accompanying notes are an integral part of the financial statements.

24 | DWS Small Cap Index VIP

Statement of Assets and Liabilities

as of June 30, 2020 (Unaudited)
Assets
Investments in non-affiliated securities, at value (cost $315,091,518) — including $20,102,251 of securities loaned	$	331,912,694
Investment in DWS Government & Agency Securities Portfolio (cost $13,979,922)*		13,979,922
Investment in DWS Central Cash Management Government Fund (cost $5,045,953)		5,045,953
Cash		1,013,449
Receivable for investments sold		1,643,225
Receivable for Fund shares sold		670,007
Dividends receivable		295,455
Interest receivable		34,827
Receivable for variation margin on futures contracts		79,351
Other assets		3,192
Total assets		354,678,075
Liabilities
Payable upon return of securities loaned		13,979,922
Payable for investments purchased		1,525,869
Payable for Fund shares redeemed		327,483
Accrued management fee		65,623
Accrued Trustees’ fees		4,098
Other accrued expenses and payables		113,541
Total liabilities		16,016,536
Net assets, at value	$	338,661,539
Net Assets Consist of
Distributable earnings (loss)		26,271,215
Paid-in capital		312,390,324
Net assets, at value	$	338,661,539
Net Asset Value
Class A
Net Asset Value and redemption price per share ($309,329,003 ÷ 24,490,153 outstanding shares of beneficial interest, $.001 par value, unlimited number of shares authorized)	$	12.63
Class B
Net Asset Value offering and redemption price per share ($29,332,536 ÷ 2,320,191 outstanding shares of beneficial interest, $.001 par value, unlimited number of shares authorized)	$	12.64

* Represents collateral on securities loaned. In addition, the Fund held non-cash collateral having a value of $6,895,104.

Statement of Operations

for the six months ended June 30, 2020 (Unaudited)
Investment Income
Income:
Dividends (net of foreign taxes withheld of $1,796)	$	2,242,157
Interest		9,906
Income distributions — DWS Central Cash Management Government Fund		22,706
Securities lending income, net of borrower rebates		196,169
Total income		2,470,938
Expenses:
Management fee		566,505
Administration fee		158,871
Services to Shareholders		1,445
Recordkeeping fee (Class B)		4,594
Distribution service fee (Class B)		34,924
Custodian fee		9,474
Professional fees		37,036
Reports to shareholders		29,954
Trustees’ fees and expenses		9,662
Other		11,687
Total expenses before expense reductions		864,152
Expense reductions		(195,381	)
Total expenses after expense reductions		668,771
Net investment income		1,802,167
Realized and Unrealized Gain (Loss)
Net realized gain (loss) from:
Investments		13,458,895
Futures		(1,249,785	)
		12,209,110
Change in net unrealized appreciation (depreciation) on:
Investments		(61,264,381	)
Futures		301,117
		(60,963,264	)
Net gain (loss)		(48,754,154	)
Net increase (decrease) in net assets resulting from operations	$	(46,951,987	)

The accompanying notes are an integral part of the financial statements.

DWS Small Cap Index VIP | 25

Statements of Changes in Net Assets

Increase (Decrease) in Net Assets	Six Months Ended June 30, 2020 (Unaudited)			Year Ended December 31, 2019
Operations:
Net investment income (loss)	$	1,802,167		$	3,723,016
Net realized gain (loss)		12,209,110			34,227,399
Change in net unrealized appreciation (depreciation)		(60,963,264	)		44,229,913
Net increase (decrease) in net assets resulting from operations		(46,951,987	)		82,180,328
Distributions to shareholders:
Class A		(36,874,155	)		(33,194,342	)
Class B		(3,407,812	)		(2,947,799	)
Total distributions		(40,281,967	)		(36,142,141	)
Fund share transactions:
Class A
Proceeds from shares sold		69,688,318			84,958,254
Reinvestment of distributions		36,874,155			33,194,342
Payments for shares redeemed		(70,532,130	)		(115,504,018	)
Net increase (decrease) in net assets from Class A share transactions		36,030,343			2,648,578
Class B
Proceeds from shares sold		2,852,761			5,070,105
Reinvestment of distributions		3,407,812			2,947,799
Payments for shares redeemed		(2,452,476	)		(6,737,215	)
Net increase (decrease) in net assets from Class B share transactions		3,808,097			1,280,689
Increase (decrease) in net assets		(47,395,514	)		49,967,454
Net assets at beginning of period		386,057,053			336,089,599
Net assets at end of period	$	338,661,539		$	386,057,053
Other Information
Class A
Shares outstanding at beginning of period		20,802,116			20,590,649
Shares sold		5,365,078			5,220,842
Shares issued to shareholders in reinvestment of distributions		3,475,415			2,089,008
Shares redeemed		(5,152,456	)		(7,098,383	)
Net increase (decrease) in Class A shares		3,688,037			211,467
Shares outstanding at end of period		24,490,153			20,802,116
Class B
Shares outstanding at beginning of period		1,943,200			1,861,335
Shares sold		235,502			317,699
Shares issued to shareholders in reinvestment of distributions		320,584			185,163
Shares redeemed		(179,095	)		(420,997	)
Net increase (decrease) in Class B shares		376,991			81,865
Shares outstanding at end of period		2,320,191			1,943,200

The accompanying notes are an integral part of the financial statements.

26 | DWS Small Cap Index VIP

Financial Highlights

	Six Months Ended 6/30/20			Years Ended December 31,
Class A	(Unaudited)			2019			2018			2017			2016			2015
Selected Per Share Data
Net asset value, beginning of period	$	16.97		$	14.97			$18.29		$	16.78		$	15.18		$	17.33
Income (loss) from investment operations:
Net investment income (loss)a		.08			.17			.19			.17			.18			.19
Net realized and unrealized gain (loss)		(2.67	)		3.49			(2.06	)		2.16			2.76			(.87	)
Total from investment operations		(2.59	)		3.66			(1.87	)		2.33			2.94			(.68	)
Less distributions from:
Net investment income		(.17	)		(.18	)		(.18	)		(.17	)		(.17	)		(.18	)
Net realized gains		(1.58	)		(1.48	)		(1.27	)		(.65	)		(1.17	)		(1.29	)
Total distributions		(1.75	)		(1.66	)		(1.45	)		(.82	)		(1.34	)		(1.47	)
Net asset value, end of period	$	12.63		$	16.97			$14.97		$	18.29		$	16.78		$	15.18
Total Return (%)b		(13.26	)**		25.22			(11.23	)		14.33			21.03			(4.60	)
Ratios to Average Net Assets and Supplemental Data
Net assets, end of period ($ millions)		309			353			308			360			343			284
Ratio of expenses before expense reductions (%)c		.51	*		.53			.51			.51			.53			.54
Ratio of expenses after expense reductions (%)c		.39	*		.39			.41			.44			.45			.45
Ratio of net investment income (loss) (%)		1.14	*		1.04			1.03			1.00			1.25			1.14
Portfolio turnover rate (%)		20	**		22			17			15			18			21

^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.

^*  Annualized

^** Not annualized

	Six Months Ended 6/30/20			Years Ended December 31,
Class B	(Unaudited)			2019			2018			2017			2016			2015
Selected Per Share Data
Net asset value, beginning of period	$	16.97		$	14.97			$18.28		$	16.77		$	15.17		$	17.31
Income (loss) from investment operations:
Net investment income (loss)a		.06			.12			.14			.13			.15			.14
Net realized and unrealized gain (loss)		(2.67	)		3.49			(2.05	)		2.15			2.75			(.86	)
Total from investment operations		(2.61	)		3.61			(1.91	)		2.28			2.90			(.72	)
Less distributions from:
Net investment income		(.14	)		(.13	)		(.13	)		(.12	)		(.13	)		(.13	)
Net realized gains		(1.58	)		(1.48	)		(1.27	)		(.65	)		(1.17	)		(1.29	)
Total distributions		(1.72	)		(1.61	)		(1.40	)		(.77	)		(1.30	)		(1.42	)
Net asset value, end of period	$	12.64		$	16.97			$14.97		$	18.28		$	16.77		$	15.17
Total Return (%)b		(13.44	)**		24.87			(11.42	)		14.03			20.71			(4.85	)
Ratios to Average Net Assets and Supplemental Data
Net assets, end of period ($ millions)		29			33			28			35			30			25
Ratio of expenses before expense reductions (%)c		.79	*		.81			.80			.78			.78			.79
Ratio of expenses after expense reductions (%)c		.66	*		.65			.67			.70			.71			.71
Ratio of net investment income (loss) (%)		.87	*		.76			.77			.76			.99			.88
Portfolio turnover rate (%)		20	**		22			17			15			18			21

^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.

^*  Annualized

^** Not annualized

The accompanying notes are an integral part of the financial statements.

DWS Small Cap Index VIP | 27

Notes to Financial Statements (Unaudited)

A. Organization and Significant Accounting Policies

Deutsche DWS Investments VIT Funds (the “Trust”) is registered under the Investment Company Act of 1940, as amended (the “1940 Act”), as an open-end management investment company. The Trust is organized as a Massachusetts business trust. DWS Small Cap Index VIP (the “Fund”) is a diversified series of the Trust offered to investors. The Fund is an underlying investment vehicle for variable annuity contracts and variable life insurance policies to be offered by the separate accounts of certain life insurance companies (“Participating Insurance Companies”).

Multiple Classes of Shares of Beneficial Interest. The Fund offers two classes of shares to investors: Class A shares and Class B shares. Class B shares are subject to Rule 12b-1 distribution fees under the 1940 Act and recordkeeping fees equal to an annual rate of 0.25% and up to 0.15%, respectively, of the Class B shares average daily net assets. Class A shares are not subject to such fees.

Investment income, realized and unrealized gains and losses, and certain fund-level expenses and expense reductions, if any, are borne pro rata on the basis of relative net assets by the holders of all classes of shares, except that each class bears certain expenses unique to that class (including the applicable Rule 12b-1 distribution fees). Differences in class-level expenses may result in payment of different per share dividends by class. All shares have equal rights with respect to voting subject to class-specific arrangements.

The Fund’s financial statements are prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) which require the use of management estimates. Actual results could differ from those estimates. The Fund qualifies as an investment company under Topic 946 of Accounting Standards Codification of U.S. GAAP. The policies described below are followed consistently by the Fund in the preparation of its financial statements.

Security Valuation. Investments are stated at value determined as of the close of regular trading on the New York Stock Exchange on each day the exchange is open for trading.

Various inputs are used in determining the value of the Fund’s investments. These inputs are summarized in three broad levels. Level 1 includes quoted prices in active markets for identical securities. Level 2 includes other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds and credit risk). Level 3 includes significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments). The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities.

Equity securities are valued at the most recent sale price or official closing price reported on the exchange (U.S. or foreign) or over-the-counter market on which they trade. Securities for which no sales are reported are valued at the calculated mean between the most recent bid and asked quotations on the relevant market or, if a mean cannot be determined, at the most recent bid quotation. Equity securities are generally categorized as Level 1.

Debt securities are valued at prices supplied by independent pricing services approved by the Fund’s Board. If the pricing services are unable to provide valuations, securities are valued at the most recent bid quotation or evaluated price, as applicable, obtained from one or more broker-dealers. Such services may use various pricing techniques which take into account appropriate factors such as yield, quality, coupon rate, maturity, type of issue, trading characteristics and other data, as well as broker quotes. These securities are generally categorized as Level 2.

Investments in open-end investment companies are valued at their net asset value each business day and are categorized as Level 1.

Futures contracts are generally valued at the settlement prices established each day on the exchange on which they are traded and are categorized as Level 1.

Securities and other assets for which market quotations are not readily available or for which the above valuation procedures are deemed not to reflect fair value are valued in a manner that is intended to reflect their fair value as determined in accordance with procedures approved by the Board and are generally categorized as Level 3. In accordance with the Fund’s valuation procedures, factors considered in determining value may include, but are not limited to, the type of the security; the size of the holding; the initial cost of the security; the existence of any contractual restrictions on the security’s disposition; the price and extent of public trading in similar securities of the issuer or of comparable companies; quotations or evaluated prices from broker-dealers and/or pricing services; information obtained from the issuer, analysts,

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and/or the appropriate stock exchange (for exchange-traded securities); an analysis of the company’s or issuer’s financial statements; an evaluation of the forces that influence the issuer and the market(s) in which the security is purchased and sold; and with respect to debt securities, the maturity, coupon, creditworthiness, currency denomination and the movement of the market in which the security is normally traded. The value determined under these procedures may differ from published values for the same securities.

Disclosure about the classification of fair value measurements is included in a table following the Fund’s Investment Portfolio.

Securities Lending. Brown Brothers Harriman & Co. serves as securities lending agent for the Fund, lends securities of the Fund to certain financial institutions under the terms of its securities lending agreement. During the term of the loans, the Fund continues to receive interest and dividends generated by the securities and to participate in any changes in their market value. The Fund requires the borrowers of the securities to maintain collateral with the Fund consisting of either cash and/or U.S. Treasury Securities having a value at least equal to the value of the securities loaned. When the collateral falls below specified amounts, the lending agent will use its best effort to obtain additional collateral on the next business day to meet required amounts under the securities lending agreement. During the six months ended June 30, 2020, the Fund invested the cash collateral into a joint trading account in DWS Government & Agency Securities Portfolio, an affiliated money market fund managed by DWS Investment Management Americas, Inc. DWS Investment Management Americas, Inc. receives a management/administration fee (0.11% annualized effective rate as of June 30, 2020) on the cash collateral invested in DWS Government & Agency Securities Portfolio. The Fund receives compensation for lending its securities either in the form of fees or by earning interest on invested cash collateral net of borrower rebates and fees paid to a lending agent. Either the Fund or the borrower may terminate the loan at any time, and the borrower, after notice, is required to return borrowed securities within a standard time period. There may be risks of delay and costs in recovery of securities or even loss of rights in the collateral should the borrower of the securities fail financially. If the Fund is not able to recover securities lent, the Fund may sell the collateral and purchase a replacement investment in the market, incurring the risk that the value of the replacement security is greater than the value of the collateral. The Fund is also subject to all investment risks associated with the reinvestment of any cash collateral received, including, but not limited to, interest rate, credit and liquidity risk associated with such investments.

As of June 30, 2020, the Fund had securities on loan, which were classified as common stock and rights in the Investment Portfolio. The value of the related collateral exceeded the value of the securities loaned at period end.

Remaining Contractual Maturity of the Agreements as of June 30, 2020
	Overnight and Continuous		<30 days		Between 30 & 90 days		>90 days		Total
Securities Lending Transactions
Common Stocks	$	13,979,878	$	���	$	—	$	6,895,104	$	20,874,982
Rights		44		—		—		—		44
Total Borrowings	$	13,979,922	$	—	$	—	$	6,895,104	$	20,875,026
Gross amount of recognized liabilities for securities lending transactions:									$	20,875,026

Federal Income Taxes. The Fund’s policy is to comply with the requirements of the Internal Revenue Code, as amended, which are applicable to regulated investment companies, and to distribute all of its taxable income to its shareholders.

At June 30, 2020, the aggregate cost of investments for federal income tax purposes was $338,935,436. The net unrealized appreciation for all investments based on tax cost was $12,003,133. This consisted of aggregate gross unrealized appreciation for all investments for which there was an excess of value over tax cost of $71,966,408 and aggregate gross unrealized depreciation for all investments for which there was an excess of tax cost over value of $59,963,275.

The Fund has reviewed the tax positions for the open tax years as of December 31, 2019 and has determined that no provision for income tax and/or uncertain tax positions is required in the Fund’s financial statements. The Fund’s federal tax returns for the prior three fiscal years remain open subject to examination by the Internal Revenue Service.

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Distribution of Income and Gains. Net investment income of the Fund, if any, is distributed to shareholders annually. Net realized gains from investment transactions, in excess of available capital loss carryforwards, would be taxable to the Fund if not distributed, and, therefore, will be distributed to shareholders at least annually. The Fund may also make additional distributions for tax purposes if necessary.

The timing and characterization of certain income and capital gain distributions are determined annually in accordance with federal tax regulations, which may differ from accounting principles generally accepted in the United States of America. These differences primarily relate to investments in futures contracts and certain securities sold at a loss. As a result, net investment income (loss) and net realized gain (loss) on investment transactions for a reporting period may differ significantly from distributions during such period. Accordingly, the Fund may periodically make reclassifications among certain of its capital accounts without impacting the net asset value of the Fund.

The tax character of current year distributions will be determined at the end of the current fiscal year.

Contingencies. In the normal course of business, the Fund may enter into contracts with service providers that contain general indemnification clauses. The Fund’s maximum exposure under these arrangements is unknown, as this would involve future claims that may be made against the Fund that have not yet been made. However, based on experience, the Fund expects the risk of loss to be remote.

Expenses. Expenses of the Trust arising in connection with a specific fund are allocated to that fund. Other Trust expenses which cannot be directly attributed to a fund are apportioned among the funds in the Trust based upon the relative net assets or other appropriate measures.

Real Estate Investment Trusts. The Fund at its fiscal year end recharacterizes distributions received from a Real Estate Investment Trust (“REIT”) investment based on information provided by the REIT into the following categories: ordinary income, long-term and short-term capital gains, and return of capital. If information is not available timely from a REIT, the recharacterization will be estimated for financial statement purposes and a recharacterization will be made within the accounting records in the following year when such information becomes available. Distributions received from REITs in excess of income are recorded as either a reduction of cost of investments or realized gains.

Other. Investment transactions are accounted for on a trade date plus one basis for daily net asset value calculations. However, for financial reporting purposes, investment transactions are reported on trade date. Interest income is recorded on the accrual basis. Dividend income is recorded on the ex-dividend date net of foreign withholding taxes. Realized gains and losses from investment transactions are recorded on an identified cost basis. Proceeds from litigation payments, if any, are included in net realized gain (loss) from investments.

B. Derivative Instruments

A futures contract is an agreement between a buyer or seller and an established futures exchange or its clearinghouse in which the buyer or seller agrees to take or make a delivery of a specific amount of a financial instrument at a specified price on a specific date (settlement date). For the six months ended June 30, 2020, the Fund invested in futures to keep cash on hand to meet shareholder redemptions or other needs while maintaining exposure to the stock market.

Upon entering into a futures contract, the Fund is required to deposit with a financial intermediary cash or securities (“initial margin”) in an amount equal to a certain percentage of the face value indicated in the futures contract. Subsequent payments (“variation margin”) are made or received by the Fund dependent upon the daily fluctuations in the value and are recorded for financial reporting purposes as unrealized gains or losses by the Fund. Gains or losses are realized when the contract expires or is closed. Since all futures contracts are exchange traded, counterparty risk is minimized as the exchange’s clearinghouse acts as the counterparty, and guarantees the futures against default.

Certain risks may arise upon entering into futures contracts, including the risk that an illiquid market will limit the Fund’s ability to close out a futures contract prior to the settlement date and the risk that the futures contract is not well correlated with the security, index or currency to which it relates. Risk of loss may exceed amounts disclosed in the Statement of Assets and Liabilities.

A summary of the open futures contracts as of June 30, 2020, is included in a table following the Fund’s Investment Portfolio. For the six months ended June 30, 2020, the investment in futures contracts purchased had a total notional value generally indicative of a range from $7,230,000 to approximately $7,835,000.

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The following tables summarize the value of the Fund’s derivative instruments held as of June 30, 2020 and the related location in the accompanying Statement of Assets and Liabilities, presented by primary underlying risk exposure:

Asset Derivative	Futures Contracts
Equity Contracts (a)	$	302,776

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.

Additionally, the amount of unrealized and realized gains and losses on derivative instruments recognized in Fund earnings during the six months ended June 30, 2020 and the related location in the accompanying Statement of Operations is summarized in the following tables by primary underlying risk exposure:

Realized Gain (Loss)	Futures Contracts
Equity Contracts (b)	$	(1,249,785	)

The above derivative is located in the following Statement of Operations account:

(b) Net realized gain (loss) from futures

Change in Net Unrealized Appreciation (Depreciation)	Futures Contracts
Equity Contracts (c)	$	301,117

The above derivative is located in the following Statement of Operations account:

(c) Change in net unrealized appreciation (depreciation) on futures

C. Purchases and Sales of Securities

During the six months ended June 30, 2020, purchases and sales of investment securities (excluding short-term investments) aggregated $63,775,248 and $63,606,714, respectively.

D. Related Parties

Investment Management Agreement. Under the Investment Management Agreement with DWS Investment Management Americas, Inc. (“DIMA” or the “Advisor”), an indirect, wholly owned subsidiary of DWS Group GmbH & Co. KGaA (“DWS Group”), the Advisor determines the securities, instruments and other contracts relating to investments to be purchased, sold, or entered into by the Fund or delegates such responsibility to the Fund’s subadvisor. Northern Trust Investments, Inc. (“NTI”) serves as subadvisor. As a subadvisor to the Fund, NTI makes investment decisions and buys and sells securities for the Fund. NTI is paid by the Advisor for the services NTI provides to the Fund.

Pursuant to the Investment Management Agreement with the Advisor, the Fund pays the Advisor an annual fee based on its average daily net assets, computed and accrued daily and payable monthly at the annual rate (exclusive of any applicable waivers/reimbursements) of 0.35%.

For the period from January 1, 2020 through April 30, 2021 (and through April 30, 2020 for Class B shares), the Advisor has contractually agreed to waive all or a portion of its fees and/or reimburse certain operating expenses of the Fund to the extent necessary to maintain the total annual operating expenses (excluding certain expenses such as extraordinary expenses, taxes, brokerage and interest) of each class as follows:

Class A	.39	%
Class B	.65	%

Effective May 1, 2020 through April 30, 2021, the Advisor has contractually agreed to waive all or a portion of its fees and/or reimburse certain operating expenses of the Fund to the extent necessary to maintain the total annual operating expenses (excluding certain expenses such as extraordinary expenses, taxes, brokerage and interest expense) of Class B shares at 0.67%.

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For the six months ended June 30, 2020, fees waived and/or expenses reimbursed for each class are as follows:

Class A	$	176,384
Class B		18,997
	$	195,381

Administration Fee. Pursuant to the Administrative Services Agreement, DIMA provides most administrative services to the Fund. Prior to March 1, 2020, for all services provided under the Administrative Services Agreement, the Fund paid DIMA an annual fee (“Administration Fee”) of 0.10% of the Fund’s average daily net assets, computed and accrued daily and payable monthly. Effective March 1, 2020, for all services provided under the Administrative Services Agreement, the Fund pays the Advisor an annual Administration Fee of 0.097% of the Fund’s average daily net assets, computed and accrued daily and payable monthly. For the six months ended June 30, 2020, the Administration Fee was $158,871, of which $26,705 is unpaid.

Distribution Service Agreement. DWS Distributors, Inc. (“DDI”), an affiliate of the Advisor, is the Fund’s distributor. In accordance with the Distribution Plan, DDI receives 12b-1 fees of up to 0.25% of the average daily net assets of Class B shares. For the six months ended June 30, 2020, the Distribution Service Fee was as follows:

Distribution Service Fee	Total Aggregated		Unpaid at June 30, 2020
Class B	$	34,924	$	5,934

Service Provider Fees. DWS Service Company (“DSC”), an affiliate of the Advisor, is the transfer agent, dividend-paying agent and shareholder service agent of the Fund. Pursuant to a sub-transfer agency agreement between DSC and DST Systems, Inc. (“DST”), DSC has delegated certain transfer agent, dividend-paying agent and shareholder service agent functions to DST. DSC compensates DST out of the shareholder servicing fee it receives from the Fund. For the six months ended June 30, 2020, the amounts charged to the Fund by DSC were as follows:

Services to Shareholders	Total Aggregated		Unpaid at June 30, 2020
Class A	$	532	$	186
Class B		111		37
	$	643	$	223

Typesetting and Filing Service Fees. Under an agreement with the Fund, DIMA is compensated for providing certain pre-press and regulatory filing services to the Fund. For the six months ended June 30, 2020, the amount charged to the Fund by DIMA included in the Statement of Operations under “Reports to shareholders” aggregated $9,514, of which $5,803 is unpaid.

Trustees’ Fees and Expenses. The Fund paid retainer fees to each Trustee not affiliated with the Advisor, plus specified amounts to the Board Chairperson and to each committee Chairperson.

Affiliated Cash Management Vehicles. The Fund may invest uninvested cash balances in DWS Central Cash Management Government Fund and DWS ESG Liquidity Fund, affiliated money market funds which are managed by the Advisor. Each affiliated money market fund is managed in accordance with Rule 2a-7 under the 1940 Act, which governs the quality, maturity, diversity and liquidity of instruments in which a money market fund may invest. DWS Central Cash Management Government Fund seeks to maintain a stable net asset value, and DWS ESG Liquidity Fund maintains a floating net asset value. The Fund indirectly bears its proportionate share of the expenses of each affiliated money market fund in which it invests. DWS Central Cash Management Government Fund does not pay the Advisor an investment management fee. To the extent that DWS ESG Liquidity Fund pays an investment management fee to the Advisor, the Advisor will waive an amount of the investment management fee payable to the Advisor by the Fund equal to the amount of the investment management fee payable on the Fund’s assets invested in DWS ESG Liquidity Fund.

E. Line of Credit

The Fund and other affiliated funds (the “Participants”) share in a $350 million revolving credit facility provided by a syndication of banks. The Fund may borrow for temporary or emergency purposes, including the meeting of redemption requests that otherwise might require the untimely disposition of securities. The

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Participants are charged an annual commitment fee, which is allocated based on net assets, among each of the Participants. Interest is calculated at a rate per annum equal to the sum of the Federal Funds Rate plus 1.25 percent plus if the one-month LIBOR exceeds the Federal Funds Rate, the amount of such excess. The Fund may borrow up to a maximum of 33 percent of its net assets under the agreement. The Fund had no outstanding loans at June 30, 2020.

F. Ownership of the Fund

At June 30, 2020, three participating insurance companies were beneficial owners of record of 10% or more of the total outstanding Class A shares of the Fund, each owning 43%, 15%, and 10%, respectively. At June 30, 2020, four participating insurance companies were beneficial owners of record of 10% or more of the outstanding Class B shares of the Fund, each owning 42%, 21%, 16% and 11%, respectively.

G. Other - COVID-19 Pandemic

A novel strain of coronavirus (COVID-19) outbreak was declared a pandemic by the World Health Organization on March 11, 2020. The situation is evolving with various cities and countries around the world responding in different ways to address the pandemic. There are direct and indirect economic effects developing for various industries and individual companies throughout the world. The recent pandemic spread of the novel coronavirus and related geopolitical events could lead to increased financial market volatility, disruption to U.S. and world economies and markets and may have significant adverse effects on the Fund and its investments. A prolonged disruption may result in the Fund and its service providers experiencing operational difficulties in implementing their business continuity plans. Management will continue to monitor the impact COVID-19 has on the Fund and reflect the consequences as appropriate in the Fund’s accounting and financial reporting.

I. Other - Deutsche Bank AG Consent Order

On June 17, 2020, Deutsche Bank AG (“DB”), an affiliate of DWS Group, resolved with the Commodity Futures Trading Commission (“CFTC”) charges stemming from alleged violations of various swap data reporting requirements and corresponding supervision and other failures. The matter, which was resolved by the issuance of a federal court order (“Consent Order”), involved unintentional conduct that resulted from a system outage that prevented DB from reporting data in accordance with applicable CFTC requirements for a period of five days in April 2016.

The matter giving rise to the Consent Order did not arise out of any investment advisory, fund management activities or distribution activities of DIMA, DWS Distributors, Inc. or their advisory affiliates (the “DWS Service Providers”). DWS Group, of which the DWS Service Providers are wholly-owned subsidiaries, is a separate publicly traded company but continues to be an affiliate of DB due to, among other things, DB’s 79.49% ownership interest in DWS Group. Under the provisions of the Investment Company Act of 1940, as a result of the Consent Order, the DWS Service Providers would not be eligible to continue to provide investment advisory and underwriting services to the Fund absent an order from the Securities and Exchange Commission (the “SEC”). DB and the DWS Service Providers are seeking temporary and permanent orders from the SEC to permit the DWS Service Providers to continue to provide investment advisory and underwriting services to the Fund and other registered investment companies notwithstanding the Consent Order. While there can be no assurance that the requested exemptive orders will be granted, the SEC has granted this type of relief in the past. Consistent with their fiduciary and other relationships with the Fund, and in accordance with the desire of the Board of the Fund, the DWS Service Providers continue to provide investment advisory and distribution services to the Fund. Subject to the receipt of the temporary and permanent exemptive orders, the DWS Service Providers have informed the Fund that they do not believe the Consent Order will have any material impact on the Fund or the ability of the Service Providers to provide services for the Fund.

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Information About Your Fund’s Expenses (Unaudited)

As an investor of the Fund, you incur two types of costs: ongoing expenses and transaction costs. Ongoing expenses include management fees, distribution and service (12b-1) fees and other Fund expenses. Examples of transaction costs include contract charges, which are not shown in this section. The following tables are intended to help you understand your ongoing expenses (in dollars) of investing in the Fund and to help you compare these expenses with the ongoing expenses of investing in other mutual funds. In the most recent six-month period, the Fund limited these expenses; had it not done so, expenses would have been higher. The example in the table is based on an investment of $1,000 invested at the beginning of the six-month period and held for the entire period (January 1, 2020 to June 30, 2020).

The tables illustrate your Fund’s expenses in two ways:

– 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.

Please note that the expenses shown in these tables are meant to highlight your ongoing expenses only and do not reflect any transaction costs. The “Expenses Paid per $1,000” line of the tables is useful in comparing ongoing expenses only and will not help you determine the relative total expense of owning different funds. If these transaction costs had been included, your costs would have been higher.

Expenses and Value of a $1,000 Investment for the six months ended June 30, 2020
Actual Fund Return		Class A		Class B
Beginning Account Value 1/1/20	$	1,000.00	$	1,000.00
Ending Account Value 6/30/20	$	867.40	$	865.60
Expenses Paid per $1,000*	$	1.81	$	3.06
Hypothetical 5% Fund Return		Class A		Class B
Beginning Account Value 1/1/20	$	1,000.00	$	1,000.00
Ending Account Value 6/30/20	$	1,022.92	$	1,021.58
Expenses Paid per $1,000*	$	1.96	$	3.32

* 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 182 (the number of days in the most recent six-month period), then divided by 366.

Annualized Expense Ratios	Class A			Class B
DWS Small Cap Index VIP		.39	%		.66	%

For more information, please refer to the Fund’s prospectus.

These tables do not reflect charges and fees (“contract charges”) 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.

For an analysis of the fees associated with an investment in the Fund or similar funds, please refer to the current and hypothetical expense calculators for Variable Insurance Products which can be found at dws.com/calculators.

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Liquidity Risk Management

In accordance with Rule 22e-4 (the “Liquidity Rule”) under the Investment Company Act of 1940 (the “1940 Act”), your Fund has adopted a liquidity risk management program (the “Program”), and the Board has designated DWS Investment Management Americas, Inc. (“DIMA”) as Program administrator. The Program is designed to assess and manage your Fund’s liquidity risk (the risk that the Fund would be unable to meet requests to redeem shares of the Fund without significant dilution of remaining investors’ interests in the Fund). DIMA has designated a committee (the “Committee”) composed of personnel from multiple departments within DIMA and its affiliates that is responsible for the implementation and ongoing administration of the Program, which includes assessing the Fund’s liquidity risk under both normal and reasonably foreseeable stressed conditions. Under the Program, every investment held by a Fund is classified on a daily basis into one of four liquidity categories based on estimations of the investment’s ability to be sold during designated timeframes in current market conditions without significantly changing the investment’s market value.

In February 2020, as required by the Program and the Liquidity Rule, DIMA provided the Board with an annual written report (the “Report”) addressing the operation of the Program and assessing the adequacy and effectiveness of its implementation during the period from December 1, 2018 through November 30, 2019 (the “Reporting Period”). During the Reporting Period, your Fund was primarily invested in highly liquid investments (investments that the Fund anticipates can be converted to cash within three business days or less in current market conditions without significantly changing their market value). As a result, your Fund is not required to adopt, and has not adopted, a “Highly Liquid Investment Minimum” as defined in the Liquidity Rule. During the Reporting Period, the Fund did not approach the 15% limit imposed by the Liquidity Rule on holdings in illiquid investments (investments that cannot be sold or disposed of in seven days or less in current market conditions without the sale of the investment significantly changing the market value of the investment). Your Fund did not experience any issues meeting investor redemptions at any time during the Reporting Period. In the Report, DIMA stated that it believes the Program has operated adequately and effectively to manage the Fund’s liquidity risk during the Reporting Period. DIMA also reported on a material change made to the Program in May 2019 to address Securities and Exchange Commission guidance relating to extended foreign market holidays.

Proxy Voting

The Fund’s policies and procedures for voting proxies for portfolio securities and information about how the Fund voted proxies related to its portfolio securities during the most recent 12-month period ended June 30 are available on our Web site — dws.com/en-us/resources/proxy-voting — or on the SEC’s Web site — sec.gov. To obtain a written copy of the Fund’s policies and procedures without charge, upon request, call us toll free at (800) 728-3337.

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Advisory Agreement Board Considerations and Fee Evaluation

The Board of Trustees (hereinafter referred to as the “Board” or “Trustees”) approved the renewal of DWS Small Cap Index VIP’s (the “Fund”) investment management agreement (the “Agreement”) with DWS Investment Management Americas, Inc. (“DIMA”) and sub-advisory agreement (the “Sub-Advisory Agreement” and together with the Agreement, the “Agreements”) between DIMA and Northern Trust Investments, Inc. (“NTI”) in September 2019.

In terms of the process that the Board followed prior to approving the Agreements, shareholders should know that:

– 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’s Contract Committee 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”). Based on its evaluation of the information provided, the Contract Committee presented its findings and recommendations to the Board. The Board then reviewed the Contract Committee’s findings and recommendations.

– 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.

In connection with the contract review process, the Contract Committee and the Board considered the factors discussed below, among others. The Board also considered that DIMA and its predecessors have managed the Fund since its inception, and the Board believes that a long-term relationship with a capable, conscientious advisor is in the best interests of the Fund. The Board considered, generally, that shareholders chose to invest or remain invested in the Fund knowing that DIMA managed the Fund. DIMA is part of DWS Group GmbH & Co. KGaA (“DWS Group”). DWS Group is a global asset management business that offers a wide range of investing expertise and resources, including research capabilities in many countries throughout the world. In 2018, approximately 20% of DWS Group’s shares were sold in an initial public offering, with Deutsche Bank AG owning the remaining shares.

As part of the contract review process, the Board carefully considered the fees and expenses of each DWS fund overseen by the Board in light of the fund’s performance. In many cases, this led to the negotiation and implementation of expense caps. As part of these negotiations, the Board indicated that it would consider relaxing these caps in future years following sustained improvements in performance, among other considerations.

While shareholders may focus primarily on fund performance and fees, the Fund’s Board considers these and many other factors, including the quality and integrity of DIMA’s and NTI’s personnel and administrative support services provided by DIMA, such as back-office operations, fund valuations, and compliance policies and procedures.

Nature, Quality and Extent of Services. The Board considered the terms of the Agreements, including the scope of advisory services provided under the Agreements. The Board noted that, under the Agreements, DIMA and NTI provide portfolio management services to the Fund and that, pursuant to a separate administrative services agreement, DIMA provides administrative services to the Fund. The Board considered the experience and skills of senior management and investment personnel and the resources made available to such personnel. Throughout the course of the year, the Board also received information regarding DIMA’s oversight of fund sub-advisors, including NTI. The Board reviewed the Fund’s performance over short-term and long-term periods and compared those returns to various agreed-upon performance measures, including market index(es) and a peer universe compiled using information supplied by

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Morningstar Direct (“Morningstar”), an independent fund data service. The Board also noted that it has put into place a process of identifying “Funds in Review” (e.g., funds performing poorly relative to a peer universe), and receives additional reporting from DIMA regarding such funds and, where appropriate, DIMA’s plans to address underperformance. The Board believes this process is an effective manner of identifying and addressing underperforming funds. Based on the information provided, the Board noted that, for the one-, three- and five-year periods ended December 31, 2018, the Fund’s performance (Class A shares) was in the 2nd quartile of the applicable Morningstar universe (the 1st quartile being the best performers and the 4th quartile being the worst performers).

Fees and Expenses. The Board considered the Fund’s investment management fee schedule, sub-advisory fee schedule, operating expenses and total expense ratios, and comparative information provided by Broadridge Financial Solutions, Inc. (“Broadridge”) and the Fee Consultant regarding investment management fee rates paid to other investment advisors by similar funds (1st quartile being the most favorable and 4th quartile being the least favorable). With respect to management fees paid to other investment advisors by similar funds, the Board noted that the contractual fee rates paid by the Fund, which include a 0.10% fee paid to DIMA under the Fund’s administrative services agreement, were higher than the median (4th quartile) of the applicable Broadridge peer group (based on Broadridge data provided as of December 31, 2018). With respect to the sub-advisory fee paid to NTI, the Board noted that the fee is paid by DIMA out of its fee and not directly by the Fund. The Board noted that the Fund’s Class A shares total (net) operating expenses were expected to be higher than the median (3rd quartile) of the applicable Broadridge expense universe (based on Broadridge data provided as of December 31, 2018, and analyzing Broadridge expense universe Class A (net) expenses less any applicable 12b-1 fees) (“Broadridge Universe Expenses”). The Board also reviewed data comparing each other operational share class’s total (net) operating expenses to the applicable Broadridge Universe Expenses. The Board noted that the expense limitations agreed to by DIMA were expected to help the Fund’s total (net) operating expenses remain competitive. The Board considered the Fund’s management fee rate as compared to fees charged by DIMA to comparable DWS U.S. registered funds (“DWS Funds”) and considered differences between the Fund and the comparable DWS Funds. The information requested by the Board as part of its review of fees and expenses also included information about institutional accounts (including any sub-advised funds and accounts) and funds offered primarily to European investors (“DWS Europe Funds”) managed by DWS Group. The Board noted that DIMA indicated that DWS Group does not manage any institutional accounts or DWS Europe Funds comparable to the Fund.

On the basis of the information provided, the Board concluded that management fees were reasonable and appropriate in light of the nature, quality and extent of services provided by DIMA and NTI.

Profitability. The Board reviewed detailed information regarding revenues received by DIMA under the Agreement. The Board considered the estimated costs to DIMA, and pre-tax profits realized by DIMA, from advising the DWS Funds, as well as estimates of the pre-tax profits attributable to managing the Fund in particular. The Board also received information regarding the estimated enterprise-wide profitability of DIMA and its affiliates with respect to all fund services in totality and by fund. The Board and the Fee Consultant reviewed DIMA’s methodology in allocating its costs to the management of the Fund. Based on the information provided, the Board concluded that the pre-tax profits realized by DIMA in connection with the management of the Fund were not unreasonable. The Board also reviewed certain publicly available information regarding the profitability of certain similar investment management firms. The Board noted that, while information regarding the profitability of such firms is limited (and in some cases is not necessarily prepared on a comparable basis), DIMA and its affiliates’ overall profitability with respect to the DWS Funds (after taking into account distribution and other services provided to the funds by DIMA and its affiliates) was lower than the overall profitability levels of most comparable firms for which such data was available. The Board did not consider the profitability of NTI with respect to the Fund. The Board noted that DIMA pays NTI’s fee out of its management fee, and its understanding that the Fund’s sub-advisory fee schedule was the product of an arm’s length negotiation with DIMA.

Economies of Scale. The Board considered whether there are economies of scale with respect to the management of the Fund and whether the Fund benefits from any economies of scale. In this regard, the Board observed that while the Fund’s current investment management fee schedule does not include breakpoints, the Fund’s fee schedule represents an appropriate sharing between the Fund and DIMA of such economies of scale as may exist in the management of the Fund at current asset levels.

Other Benefits to DIMA and NTI and Their Affiliates. The Board also considered the character and amount of other incidental or “fall-out” benefits received by DIMA and NTI and their affiliates, including any fees

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received by DIMA for administrative services provided to the Fund, any fees received by an affiliate of DIMA for transfer agency services provided to the Fund and any fees received by an affiliate of DIMA for distribution services. The Board also considered benefits to DIMA and NTI related to brokerage and soft-dollar allocations, including allocating brokerage to pay for research generated by parties other than the executing broker dealers, which pertain primarily to funds investing in equity securities. In addition, the Board considered the incidental public relations benefits to DIMA and NTI related to DWS Funds advertising and cross-selling opportunities among DIMA products and services. The Board considered these benefits in reaching its conclusion that the Fund’s management fees were reasonable.

Compliance. The Board considered the significant attention and resources dedicated by DIMA to its compliance processes in recent years. The Board noted in particular (i) the experience, seniority and time commitment of the individuals serving as DIMA’s and the Fund’s chief compliance officers and (ii) the substantial commitment of resources by DIMA and its affiliates to compliance matters, including the retention of compliance personnel. The Board also considered the attention and resources dedicated by DIMA to the oversight of the investment sub-advisor’s compliance program and compliance with the applicable fund policies and procedures.

Based on all of the information considered and the conclusions reached, the Board determined that the continuation of the Agreements is in the best interests of the Fund. In making this determination, the Board did not give particular weight to any single factor identified above. The Board considered these factors over the course of numerous meetings, certain of which were in executive session with only the Independent Trustees and counsel present. It is possible that individual Independent Trustees may have weighed these factors differently in reaching their individual decisions to approve the continuation of the Agreements.

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Notes

vit-scif-3 (R-028372-9 8/20)

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 Small Cap Index VIP, a series of Deutsche DWS Investments VIT Funds
By:	/s/Hepsen Uzcan Hepsen Uzcan President
Date:	8/14/2020

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:	8/14/2020
By:	/s/Diane Kenneally Diane Kenneally Chief Financial Officer and Treasurer
Date:	8/14/2020