GIIAX vs. NWKDX

Last updated Jun 26, 2026

GIIAX (Nationwide International Index Fund) and NWKDX (Nationwide Geneva Small Cap Growth Fund) are both mutual funds - GIIAX is a Foreign Large Cap Equities fund managed by Nationwide, while NWKDX is a Small Cap Growth Equities fund managed by Nationwide. Over the past 10 years, GIIAX returned 9.31%/yr vs 9.86%/yr for NWKDX. A 0.66 correlation means they provide meaningful diversification when combined. GIIAX charges 0.71%/yr vs 0.94%/yr for NWKDX.

Performance

GIIAX vs. NWKDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nationwide International Index Fund (GIIAX) and Nationwide Geneva Small Cap Growth Fund (NWKDX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GIIAX achieves a 7.86% return, which is significantly higher than NWKDX's 5.81% return. Over the past 10 years, GIIAX has underperformed NWKDX with an annualized return of 9.31%, while NWKDX has yielded a comparatively higher 9.86% annualized return.

GIIAX

• 1D: -0.09%
• 1M: -1.35%
• YTD: 7.86%
• 6M: 7.44%
• 1Y: 20.14%
• 3Y*: 15.92%
• 5Y*: 7.87%
• 10Y*: 9.31%

NWKDX

• 1D: 2.15%
• 1M: 3.33%
• YTD: 5.81%
• 6M: 3.59%
• 1Y: 3.64%
• 3Y*: 6.10%
• 5Y*: 0.58%
• 10Y*: 9.86%

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

GIIAX vs. NWKDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GIIAX Nationwide International Index Fund	7.86%	31.11%	3.05%	16.88%	-14.43%	10.67%	7.26%	21.56%	-14.10%	24.81%
NWKDX Nationwide Geneva Small Cap Growth Fund	5.81%	-8.35%	13.47%	19.56%	-24.48%	12.47%	32.69%	28.33%	-0.89%	22.21%

Correlation

The correlation between GIIAX and NWKDX is 0.62, 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	0.62
Correlation (3Y) Calculated over the trailing 3-year period	0.62
Correlation (5Y) Calculated over the trailing 5-year period	0.67
Correlation (10Y) Calculated over the trailing 10-year period	0.66
Correlation (All Time) Calculated using the full available price history since Sep 17, 2013	0.66

The correlation between GIIAX and NWKDX has been stable across timeframes, ranging from 0.62 to 0.67 - a consistent structural relationship.

Return for Risk

GIIAX vs. NWKDX — Risk / Return Rank

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

GIIAX

GIIAX Risk / Return Rank: 30
GIIAX Sharpe Ratio Rank: 30
GIIAX Sortino Ratio Rank: 29
GIIAX Omega Ratio Rank: 29
GIIAX Calmar Ratio Rank: 30
GIIAX Martin Ratio Rank: 33

NWKDX

NWKDX Risk / Return Rank: 5
NWKDX Sharpe Ratio Rank: 4
NWKDX Sortino Ratio Rank: 5
NWKDX Omega Ratio Rank: 4
NWKDX Calmar Ratio Rank: 5
NWKDX Martin Ratio Rank: 5

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.

GIIAX vs. NWKDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nationwide International Index Fund (GIIAX) and Nationwide Geneva Small Cap Growth Fund (NWKDX). 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.

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.

	GIIAX	NWKDX	Difference
Sharpe ratio: Return per unit of total volatility	1.29	0.13	+1.16
Sortino ratio: Return per unit of downside risk	1.87	0.32	+1.55
Omega ratio: Gain probability vs. loss probability	1.24	1.03	+0.20
Calmar ratio: Return relative to maximum drawdown	1.75	0.17	+1.59
Martin ratio: Return relative to average drawdown	6.37	0.44	+5.93

GIIAX vs. NWKDX - Sharpe Ratio Comparison

The current GIIAX Sharpe Ratio is 1.29, which is higher than the NWKDX Sharpe Ratio of 0.13. The chart below compares the historical Sharpe Ratios of GIIAX and NWKDX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

GIIAX vs. NWKDX - Drawdown Comparison

The maximum GIIAX drawdown since its inception was -61.28%, which is greater than NWKDX's maximum drawdown of -34.81%. Use the drawdown chart below to compare losses from any high point for GIIAX and NWKDX.

Drawdown Indicators

	GIIAX	NWKDX	Difference
Max Drawdown Largest peak-to-trough decline	-61.28%	-34.81%	-26.47%
Max Drawdown (1Y) Largest decline over 1 year	-11.21%	-13.64%	+2.43%
Max Drawdown (3Y) Largest decline over 3 years	-13.63%	-24.68%	+11.05%
Max Drawdown (5Y) Largest decline over 5 years	-29.61%	-32.66%	+3.05%
Max Drawdown (10Y) Largest decline over 10 years	-34.23%	-34.81%	+0.58%
Current Drawdown Current decline from peak	-2.29%	-11.32%	+9.03%
Average Drawdown Average peak-to-trough decline	-16.03%	-8.82%	-7.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.07%	5.12%	-2.05%

Volatility

GIIAX vs. NWKDX - Volatility Comparison

Nationwide International Index Fund (GIIAX) has a higher volatility of 5.52% compared to Nationwide Geneva Small Cap Growth Fund (NWKDX) at 5.02%. This indicates that GIIAX's price experiences larger fluctuations and is considered to be riskier than NWKDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GIIAX	NWKDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.52%	5.02%	+0.50%
Volatility (6M) Calculated over the trailing 6-month period	12.88%	12.89%	-0.01%
Volatility (1Y) Calculated over the trailing 1-year period	15.25%	17.41%	-2.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.82%	20.60%	-4.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.14%	21.17%	-5.03%

GIIAX vs. NWKDX - Expense Ratio Comparison

GIIAX has a 0.71% expense ratio, which is lower than NWKDX's 0.94% expense ratio.

Dividends

GIIAX vs. NWKDX - Dividend Comparison

GIIAX's dividend yield for the trailing twelve months is around 6.80%, more than NWKDX's 2.48% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GIIAX Nationwide International Index Fund	6.80%	7.14%	3.84%	2.99%	1.90%	3.69%	1.58%	4.20%	6.17%	6.21%	2.87%	3.36%
NWKDX Nationwide Geneva Small Cap Growth Fund	2.48%	2.62%	3.31%	0.71%	1.80%	8.46%	0.45%	2.12%	6.11%	4.65%	0.16%	5.02%

Frequently Asked Questions

Can I hold both GIIAX and NWKDX in my portfolio?

GIIAX and NWKDX have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GIIAX or NWKDX?

GIIAX has higher volatility (5.52%) compared to NWKDX (5.02%). In terms of maximum drawdown, GIIAX dropped -61.28% vs NWKDX's -34.81%.

Which has better risk-adjusted returns?

GIIAX currently has the higher Sharpe Ratio (1.29 vs 0.13), 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.