GBIAX vs. NWISX

Last updated Jun 4, 2026

GBIAX (Nationwide Bond Index Fund) and NWISX (Nationwide Destination 2030 Fund) are both mutual funds - GBIAX is a Intermediate Core Bond fund managed by Nationwide, while NWISX is a Target Retirement Date fund managed by Nationwide. Over the past 10 years, GBIAX returned 0.88%/yr vs 7.51%/yr for NWISX. At a correlation of -0.08, they often move in opposite directions. GBIAX charges 0.64%/yr vs 0.38%/yr for NWISX.

Performance

GBIAX vs. NWISX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nationwide Bond Index Fund (GBIAX) and Nationwide Destination 2030 Fund (NWISX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GBIAX achieves a 0.24% return, which is significantly lower than NWISX's 6.83% return. Over the past 10 years, GBIAX has underperformed NWISX with an annualized return of 0.88%, while NWISX has yielded a comparatively higher 7.51% annualized return.

GBIAX

• 1D: 0.10%
• 1M: 0.50%
• YTD: 0.24%
• 6M: 0.10%
• 1Y: 4.84%
• 3Y*: 3.37%
• 5Y*: -0.54%
• 10Y*: 0.88%

NWISX

• 1D: 0.11%
• 1M: 3.23%
• YTD: 6.83%
• 6M: 7.39%
• 1Y: 17.44%
• 3Y*: 12.88%
• 5Y*: 5.84%
• 10Y*: 7.51%

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

GBIAX vs. NWISX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GBIAX Nationwide Bond Index Fund	0.24%	6.54%	0.44%	5.03%	-14.06%	-2.38%	6.60%	8.08%	-0.74%	2.89%
NWISX Nationwide Destination 2030 Fund	6.83%	14.63%	8.73%	15.11%	-16.85%	11.16%	12.13%	17.47%	-7.35%	14.17%

Correlation

The correlation between GBIAX and NWISX is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.45
Correlation (3Y) Calculated over the trailing 3-year period	0.47
Correlation (5Y) Calculated over the trailing 5-year period	0.36
Correlation (10Y) Calculated over the trailing 10-year period	0.14
Correlation (All Time) Calculated using the full available price history since Aug 31, 2007	-0.08

The correlation between GBIAX and NWISX shifts across timeframes, from -0.08 (all time) to 0.47 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

GBIAX vs. NWISX — Risk / Return Rank

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

GBIAX

GBIAX Risk / Return Rank: 18
GBIAX Sharpe Ratio Rank: 19
GBIAX Sortino Ratio Rank: 19
GBIAX Omega Ratio Rank: 18
GBIAX Calmar Ratio Rank: 19
GBIAX Martin Ratio Rank: 18

NWISX

NWISX Risk / Return Rank: 63
NWISX Sharpe Ratio Rank: 64
NWISX Sortino Ratio Rank: 66
NWISX Omega Ratio Rank: 63
NWISX Calmar Ratio Rank: 57
NWISX Martin Ratio Rank: 68

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. NWISX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nationwide Bond Index Fund (GBIAX) and Nationwide Destination 2030 Fund (NWISX). 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	NWISX	Difference
Sharpe ratio: Return per unit of total volatility	1.24	2.36	-1.12
Sortino ratio: Return per unit of downside risk	1.84	3.41	-1.56
Omega ratio: Gain probability vs. loss probability	1.22	1.44	-0.22
Calmar ratio: Return relative to maximum drawdown	1.62	2.89	-1.27
Martin ratio: Return relative to average drawdown	4.80	13.15	-8.35
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. NWISX - Sharpe Ratio Comparison

The current GBIAX Sharpe Ratio is 1.24, which is lower than the NWISX Sharpe Ratio of 2.36. The chart below compares the historical Sharpe Ratios of GBIAX and NWISX, 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	NWISX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.24	2.36	-1.12
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.09	0.51	-0.61
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.18	0.63	-0.45
Sharpe Ratio (All Time) Calculated using the full available price history	0.73	0.39	+0.34

Drawdowns

GBIAX vs. NWISX - Drawdown Comparison

The maximum GBIAX drawdown since its inception was -20.26%, smaller than the maximum NWISX drawdown of -49.97%. Use the drawdown chart below to compare losses from any high point for GBIAX and NWISX.

Drawdown Indicators

	GBIAX	NWISX	Difference
Max Drawdown Largest peak-to-trough decline	-20.26%	-49.97%	+29.71%
Max Drawdown (1Y) Largest decline over 1 year	-3.00%	-6.12%	+3.12%
Max Drawdown (3Y) Largest decline over 3 years	-6.30%	-8.79%	+2.49%
Max Drawdown (5Y) Largest decline over 5 years	-19.07%	-28.31%	+9.24%
Max Drawdown (10Y) Largest decline over 10 years	-20.26%	-28.31%	+8.05%
Current Drawdown Current decline from peak	-6.18%	0.00%	-6.18%
Average Drawdown Average peak-to-trough decline	-3.04%	-7.94%	+4.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.01%	1.34%	-0.33%

Volatility

GBIAX vs. NWISX - Volatility Comparison

The current volatility for Nationwide Bond Index Fund (GBIAX) is 1.30%, while Nationwide Destination 2030 Fund (NWISX) has a volatility of 2.48%. This indicates that GBIAX experiences smaller price fluctuations and is considered to be less risky than NWISX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GBIAX	NWISX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.30%	2.48%	-1.18%
Volatility (6M) Calculated over the trailing 6-month period	2.77%	6.14%	-3.37%
Volatility (1Y) Calculated over the trailing 1-year period	3.93%	7.49%	-3.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.00%	11.41%	-5.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.95%	11.89%	-6.94%

GBIAX vs. NWISX - Expense Ratio Comparison

GBIAX has a 0.64% expense ratio, which is higher than NWISX's 0.38% expense ratio.

Dividends

GBIAX vs. NWISX - Dividend Comparison

GBIAX's dividend yield for the trailing twelve months is around 3.28%, less than NWISX's 7.07% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GBIAX Nationwide Bond Index Fund	3.28%	3.18%	3.07%	2.57%	1.59%	3.02%	1.79%	2.27%	2.29%	1.93%	2.15%	2.43%
NWISX Nationwide Destination 2030 Fund	7.07%	7.48%	13.04%	7.29%	3.01%	9.66%	5.40%	6.21%	11.67%	7.96%	7.01%	5.09%

Frequently Asked Questions

Can I hold both GBIAX and NWISX in my portfolio?

GBIAX and NWISX have a correlation of 0.45, 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 NWISX?

NWISX has higher volatility (2.48%) compared to GBIAX (1.30%). In terms of maximum drawdown, GBIAX dropped -20.26% vs NWISX's -49.97%.

Which has better risk-adjusted returns?

NWISX currently has the higher Sharpe Ratio (2.36 vs 1.24), 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.