- ISIN
- US63867V7055
- Issuer
- Nationwide
- Inception Date
- Dec 29, 1999
- Category
- Small Cap Blend Equities
- Min. Investment
- $2,000
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Small-Cap
- Asset Class Style
- Blend
Share Price Chart
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Performance
GMRAX Performance Chart
Nationwide Small Cap Index Fund (GMRAX) is up 20.3% since the beginning of the year. GMRAX is currently trading at $15 per share. Investors who bought $1,000 worth of GMRAX shares 5 years ago would now be looking at an investment worth $1,383.
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Returns By Period
Nationwide Small Cap Index Fund (GMRAX) has returned 20.34% so far this year and 42.36% over the past 12 months. Over the last ten years, GMRAX has returned 10.91% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.
Nationwide Small Cap Index Fund
- 1D
- 2.12%
- 1M
- 3.94%
- YTD
- 20.34%
- 6M
- 16.79%
- 1Y
- 42.36%
- 3Y*
- 17.42%
- 5Y*
- 6.70%
- 10Y*
- 10.91%
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
GMRAX Monthly Returns History
Based on dividend-adjusted daily data since Jan 3, 2000, GMRAX's average daily return is +0.04%, while the average monthly return is +0.80%. At this rate, an investment would double in approximately 7.2 years.
Historically, 61% of months were positive and 39% were negative. The best month was Nov 2020 with a return of +18.3%, while the worst month was Mar 2020 at -21.8%. The longest winning streak lasted 9 consecutive months, and the longest losing streak was 5 months.
On a daily basis, GMRAX closed higher 52% of trading days. The best single day was Mar 24, 2020 with a return of +9.5%, while the worst single day was Mar 16, 2020 at -14.3%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 5.30% | 0.74% | -5.03% | 12.14% | 4.34% | 2.08% | 20.34% | ||||||
| 2025 | 2.56% | -5.41% | -6.86% | -2.36% | 5.32% | 5.35% | 1.75% | 7.04% | 3.13% | 1.71% | 0.99% | -0.60% | 12.26% |
| 2024 | -5.41% | 5.53% | 3.55% | -7.03% | 4.89% | -0.97% | 10.12% | -1.61% | 0.69% | -1.47% | 10.87% | -8.28% | 9.12% |
| 2023 | 9.74% | -1.70% | -4.86% | -1.82% | -0.93% | 8.07% | 5.97% | -5.09% | -5.92% | -6.84% | 8.98% | 13.42% | 17.56% |
| 2022 | -9.70% | 0.98% | 1.24% | -9.98% | 0.10% | -8.26% | 10.50% | -2.11% | -9.64% | 10.98% | 2.25% | -6.46% | -20.82% |
| 2021 | 4.91% | 6.16% | 1.01% | 1.99% | 0.15% | 1.88% | -3.68% | 2.22% | -3.05% | 4.24% | -4.22% | 2.42% | 14.27% |
Benchmark Metrics
Nationwide Small Cap Index Fund has an annualized alpha of 1.54%, beta of 1.11, and R2 of 0.77 versus S&P 500 Index. Calculated based on daily prices since January 03, 2000.
- This fund captured 120.62% of S&P 500 Index gains and 111.37% of its losses - amplifying both gains and losses, but participating more in upside than downside.
- With beta of 1.11 and R2 of 0.77, this fund moves broadly in line with S&P 500 Index - much of its variation is explained by market exposure rather than independent behavior.
- Alpha
- 1.54%
- Beta
- 1.11
- R²
- 0.77
- Upside Capture
- 120.62%
- Downside Capture
- 111.37%
Expense Ratio
GMRAX has an expense ratio of 0.68%, placing it in the medium range.
Return for Risk
Risk / Return Rank
GMRAX ranks 67 for risk / return — better than 67% of mutual funds on our site. You're getting solid returns for the risk taken. A good sign, especially for investors who want growth without excessive volatility.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Nationwide Small Cap Index Fund (GMRAX) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| GMRAX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.11 | ||
| Sortino ratioReturn per unit of downside risk | +0.19 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.37 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 3.83 | 2.78 | +1.04 |
| Martin ratioReturn relative to average drawdown | 13.50 | 12.44 | +1.06 |
Dividends
Dividend History
Nationwide Small Cap Index Fund provided a 2.09% dividend yield over the last twelve months, with an annual payout of $0.32 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.32 | $0.31 | $0.58 | $0.06 | $0.15 | $0.84 | $0.07 | $0.72 | $3.94 | $2.45 | $1.02 | $1.58 |
Dividend yield | 2.09% | 2.45% | 4.99% | 0.52% | 1.51% | 6.81% | 0.56% | 7.38% | 46.93% | 17.82% | 7.14% | 12.55% |
Monthly Dividends
The table displays the monthly dividend distributions for Nationwide Small Cap Index Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.01 | $0.00 | $0.00 | $0.02 | $0.03 | ||||||
| 2025 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.02 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.29 | $0.31 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.05 | $0.00 | $0.00 | $0.53 | $0.58 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.03 | $0.00 | $0.00 | $0.02 | $0.00 | $0.00 | $0.01 | $0.06 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.01 | $0.00 | $0.00 | $0.02 | $0.00 | $0.00 | $0.11 | $0.15 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.84 | $0.84 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Nationwide Small Cap Index Fund. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Nationwide Small Cap Index Fund was 59.36%, occurring on Mar 9, 2009. Recovery took 492 trading sessions.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Financial crisis2007–2009 | -59.36%Mar 2009 | 1y 7mo | 1y 11mo | 3y 7moJul 2007 - Feb 2011 |
Dot-com crash2000–2002 | -47.17%Oct 2002 | 2y 7mo | 2y 1mo | 4y 8moMar 2000 - Nov 2004 |
COVID crash2020 | -41.78%Mar 2020 | 2mo 1d | 7mo 26d | 9mo 27dJan 2020 - Nov 2020 |
Bear market2022 | -32.00%Jun 2022 | 7mo 9d | 2y 4mo | 2y 12moNov 2021 - Nov 2024 |
2011 bear market2011 | -29.22%Oct 2011 | 5mo 4d | 11mo 16d | 1y 4moMay 2011 - Sep 2012 |
Drawdown Indicators
| GMRAX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.36% | -56.78% | -2.58% |
Max Drawdown (1Y)Largest decline over 1 year | -11.06% | -9.10% | -1.96% |
Max Drawdown (3Y)Largest decline over 3 years | -27.67% | -18.90% | -8.77% |
Max Drawdown (5Y)Largest decline over 5 years | -32.00% | -25.43% | -6.57% |
Max Drawdown (10Y)Largest decline over 10 years | -41.78% | -33.92% | -7.86% |
Current DrawdownCurrent decline from peak | 0.00% | -1.80% | +1.80% |
Average DrawdownAverage peak-to-trough decline | -12.57% | -10.71% | -1.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.13% | 2.03% | +1.10% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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