PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan

Nationwide Destination 2040 Fund (NWMSX) Diversifiers

Mutual Fund · Currency in USD · Last updated Jun 25, 2026

The fund is a "fund of funds" that invests primarily in affiliated mutual funds representing a variety of asset classes. It invests in a professionally selected mix of different asset classes that is tailored for investors planning to retire in, or close to, the year 2040. The fund allocated approximately 54% of its net assets in U.S. stocks (including smaller company stocks), approximately 28% in international stocks, and approximately 18% in bonds.

Looking to diversify beyond NWMSX? The mutual funds below have the lowest correlation with NWMSX — they tend to move on their own, which can help reduce risk when the rest of your portfolio drops. The stock ideas table highlights individual companies that behave independently from NWMSX.

Best Diversifiers for NWMSX

2 mutual funds have low correlation with NWMSX (below 0.3), 0 of which are negatively correlated. The least correlated is Nationwide Amundi Strategic Income Fund (NWXHX) (Multisector Bonds) with a 1Y correlation of 0.14, roughly unchanged from 0.06 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
NWXHX
Nationwide Amundi Strategic Income Fund0.140.140.06
99
Multisector BondsNWMSX vs NWXHX
NWXEX
Nationwide Strategic Income A0.180.130.06
99
Multisector BondsNWMSX vs NWXEX
TDIFX
Dimensional Retirement Income Fund0.790.810.77
64
Target Retirement DateNWMSX vs TDIFX
GMRAX
Nationwide Small Cap Index Fund0.830.850.87
67
Small Cap Blend EquitiesNWMSX vs GMRAX
FRQAX
Fidelity Advisor Managed Retirement 2010 Fund Clas...0.840.800.78
65
Target Retirement DateNWMSX vs FRQAX
See all 65 diversifiers for NWMSX

To view more results, upgrade your current subscription plan.

Low-Correlation Stock Ideas

If you're looking for individual stocks that move independently from NWMSX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to NWMSX and solid risk/return profiles. The least correlated is Eaton Vance Tax-Managed Buy-Write Opportunities Fund (ETV) (Financial Services) with a 1Y correlation of 0.71, roughly unchanged from 0.73 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankSector
ETV
Eaton Vance Tax-Managed Buy-Write Opportunities Fu...0.710.710.73
77
Financial Services

Rows per page

1–1 of 1

Diversification Analysis

Build a portfolio that complements NWMSX

Add NWMSX to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.

Analyze a portfolio with NWMSX