GBIAX vs. NADCX

Last updated Jun 3, 2026

GBIAX (Nationwide Bond Index Fund) and NADCX (Nationwide Investor Destinations Moderately Conservative Fund) are both mutual funds - GBIAX is a Intermediate Core Bond fund managed by Nationwide, while NADCX is a Diversified Portfolio fund managed by Nationwide. Over the past 10 years, GBIAX returned 0.87%/yr vs 5.38%/yr for NADCX. At a 0.05 correlation, their price movements are largely independent. GBIAX charges 0.64%/yr vs 0.50%/yr for NADCX.

Performance

GBIAX vs. NADCX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nationwide Bond Index Fund (GBIAX) and Nationwide Investor Destinations Moderately Conservative Fund (NADCX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GBIAX achieves a 0.13% return, which is significantly lower than NADCX's 5.66% return. Over the past 10 years, GBIAX has underperformed NADCX with an annualized return of 0.87%, while NADCX has yielded a comparatively higher 5.38% annualized return.

GBIAX

• 1D: -0.10%
• 1M: 0.08%
• YTD: 0.13%
• 6M: 0.10%
• 1Y: 4.73%
• 3Y*: 3.34%
• 5Y*: -0.60%
• 10Y*: 0.87%

NADCX

• 1D: 0.10%
• 1M: 1.96%
• YTD: 5.66%
• 6M: 6.29%
• 1Y: 14.61%
• 3Y*: 10.04%
• 5Y*: 4.37%
• 10Y*: 5.38%

*Multi-year figures are annualized to reflect compound growth (CAGR)

GBIAX vs. NADCX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GBIAX Nationwide Bond Index Fund	0.13%	6.54%	0.44%	5.03%	-14.06%	-2.38%	6.60%	8.08%	-0.74%	2.89%
NADCX Nationwide Investor Destinations Moderately Conservative Fund	5.66%	10.98%	6.76%	11.80%	-14.20%	7.63%	9.77%	12.53%	-4.34%	8.37%

Correlation

The correlation between GBIAX and NADCX is 0.55, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.55
Correlation (3Y) Calculated over the trailing 3-year period	0.58
Correlation (5Y) Calculated over the trailing 5-year period	0.47
Correlation (10Y) Calculated over the trailing 10-year period	0.26
Correlation (All Time) Calculated using the full available price history since Apr 3, 2000	0.05

Over the past year, GBIAX and NADCX have become more correlated (0.55) than their long-term average of 0.05, meaning their price movements have been converging.

Return for Risk

GBIAX vs. NADCX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

GBIAX

GBIAX Risk / Return Rank: 16
GBIAX Sharpe Ratio Rank: 15
GBIAX Sortino Ratio Rank: 16
GBIAX Omega Ratio Rank: 15
GBIAX Calmar Ratio Rank: 18
GBIAX Martin Ratio Rank: 17

NADCX

NADCX Risk / Return Rank: 62
NADCX Sharpe Ratio Rank: 61
NADCX Sortino Ratio Rank: 65
NADCX Omega Ratio Rank: 65
NADCX Calmar Ratio Rank: 54
NADCX Martin Ratio Rank: 64

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

GBIAX vs. NADCX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nationwide Bond Index Fund (GBIAX) and Nationwide Investor Destinations Moderately Conservative Fund (NADCX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	GBIAX	NADCX	Difference
Sharpe ratio Return per unit of total volatility	1.13	2.30	-1.18
Sortino ratio Return per unit of downside risk	1.67	3.38	-1.71
Omega ratio Gain probability vs. loss probability	1.20	1.45	-0.25
Calmar ratio Return relative to maximum drawdown	1.60	2.83	-1.23
Martin ratio Return relative to average drawdown	4.77	12.63	-7.86
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GBIAX vs. NADCX - Sharpe Ratio Comparison

The current GBIAX Sharpe Ratio is 1.13, which is lower than the NADCX Sharpe Ratio of 2.30. The chart below compares the historical Sharpe Ratios of GBIAX and NADCX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	GBIAX	NADCX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.13	2.30	-1.18
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.10	0.55	-0.65
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.18	0.69	-0.51
Sharpe Ratio (All Time) Calculated using the full available price history	0.73	0.59	+0.14

Drawdowns

GBIAX vs. NADCX - Drawdown Comparison

The maximum GBIAX drawdown since its inception was -20.26%, smaller than the maximum NADCX drawdown of -24.64%. Use the drawdown chart below to compare losses from any high point for GBIAX and NADCX.

Drawdown Indicators

	GBIAX	NADCX	Difference
Max Drawdown Largest peak-to-trough decline	-20.26%	-24.64%	+4.38%
Max Drawdown (1Y) Largest decline over 1 year	-3.00%	-5.21%	+2.21%
Max Drawdown (3Y) Largest decline over 3 years	-6.30%	-6.93%	+0.63%
Max Drawdown (5Y) Largest decline over 5 years	-19.07%	-20.23%	+1.16%
Max Drawdown (10Y) Largest decline over 10 years	-20.26%	-20.23%	-0.03%
Current Drawdown Current decline from peak	-6.27%	0.00%	-6.27%
Average Drawdown Average peak-to-trough decline	-3.04%	-3.35%	+0.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.01%	1.17%	-0.16%

Volatility

GBIAX vs. NADCX - Volatility Comparison

The current volatility for Nationwide Bond Index Fund (GBIAX) is 1.30%, while Nationwide Investor Destinations Moderately Conservative Fund (NADCX) has a volatility of 2.24%. This indicates that GBIAX experiences smaller price fluctuations and is considered to be less risky than NADCX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GBIAX	NADCX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.30%	2.24%	-0.94%
Volatility (6M) Calculated over the trailing 6-month period	2.77%	5.34%	-2.57%
Volatility (1Y) Calculated over the trailing 1-year period	3.93%	6.39%	-2.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.00%	7.95%	-1.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.95%	7.88%	-2.93%

GBIAX vs. NADCX - Expense Ratio Comparison

GBIAX has a 0.64% expense ratio, which is higher than NADCX's 0.50% expense ratio.

Dividends

GBIAX vs. NADCX - Dividend Comparison

GBIAX's dividend yield for the trailing twelve months is around 3.29%, less than NADCX's 4.54% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GBIAX Nationwide Bond Index Fund	3.29%	3.18%	3.07%	2.57%	1.59%	3.02%	1.79%	2.27%	2.29%	1.93%	2.15%	2.43%
NADCX Nationwide Investor Destinations Moderately Conservative Fund	4.54%	4.76%	9.54%	4.85%	2.89%	3.22%	4.17%	3.27%	8.13%	4.95%	4.58%	4.39%

Frequently Asked Questions

Can I hold both GBIAX and NADCX in my portfolio?

GBIAX and NADCX have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GBIAX or NADCX?

NADCX has higher volatility (2.24%) compared to GBIAX (1.30%). In terms of maximum drawdown, GBIAX dropped -20.26% vs NADCX's -24.64%.

Which has better risk-adjusted returns?

NADCX currently has the higher Sharpe Ratio (2.30 vs 1.13), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.