GMRAX vs. VOO
Compare and contrast key facts about Nationwide Small Cap Index Fund (GMRAX) and Vanguard S&P 500 ETF (VOO).
GMRAX is managed by Nationwide. It was launched on Dec 29, 1999. VOO is a passively managed fund by Vanguard that tracks the performance of the S&P 500 Index. It was launched on Sep 7, 2010.
Performance
GMRAX vs. VOO - Performance Comparison
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GMRAX vs. VOO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GMRAX Nationwide Small Cap Index Fund | 0.74% | 12.26% | 9.12% | 17.56% | -20.82% | 14.27% | 19.59% | 24.87% | -10.71% | 14.21% |
VOO Vanguard S&P 500 ETF | -3.66% | 17.82% | 24.98% | 26.32% | -18.17% | 28.79% | 18.32% | 31.37% | -4.50% | 21.77% |
Returns By Period
In the year-to-date period, GMRAX achieves a 0.74% return, which is significantly higher than VOO's -3.66% return. Over the past 10 years, GMRAX has underperformed VOO with an annualized return of 9.36%, while VOO has yielded a comparatively higher 14.14% annualized return.
GMRAX
- 1D
- 3.44%
- 1M
- -5.92%
- YTD
- 0.74%
- 6M
- 2.63%
- 1Y
- 25.17%
- 3Y*
- 12.23%
- 5Y*
- 2.84%
- 10Y*
- 9.36%
VOO
- 1D
- 0.79%
- 1M
- -4.29%
- YTD
- -3.66%
- 6M
- -1.41%
- 1Y
- 18.17%
- 3Y*
- 18.58%
- 5Y*
- 11.93%
- 10Y*
- 14.14%
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GMRAX vs. VOO - Expense Ratio Comparison
GMRAX has a 0.68% expense ratio, which is higher than VOO's 0.03% expense ratio.
Return for Risk
GMRAX vs. VOO — Risk / Return Rank
GMRAX
VOO
GMRAX vs. VOO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nationwide Small Cap Index Fund (GMRAX) and Vanguard S&P 500 ETF (VOO). 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.
| GMRAX | VOO | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.08 | 1.01 | +0.08 |
Sortino ratioReturn per unit of downside risk | 1.63 | 1.53 | +0.09 |
Omega ratioGain probability vs. loss probability | 1.21 | 1.23 | -0.02 |
Calmar ratioReturn relative to maximum drawdown | 1.76 | 1.55 | +0.21 |
Martin ratioReturn relative to average drawdown | 6.58 | 7.31 | -0.73 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| GMRAX | VOO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.08 | 1.01 | +0.08 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.13 | 0.71 | -0.59 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.40 | 0.79 | -0.39 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.29 | 0.83 | -0.54 |
Correlation
The correlation between GMRAX and VOO is 0.83, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
GMRAX vs. VOO - Dividend Comparison
GMRAX's dividend yield for the trailing twelve months is around 2.47%, more than VOO's 1.18% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GMRAX Nationwide Small Cap Index Fund | 2.47% | 2.45% | 4.99% | 0.52% | 1.51% | 6.81% | 0.56% | 7.38% | 46.93% | 17.82% | 7.14% | 12.55% |
VOO Vanguard S&P 500 ETF | 1.18% | 1.13% | 1.24% | 1.46% | 1.69% | 1.25% | 1.54% | 1.88% | 2.06% | 1.78% | 2.02% | 2.10% |
Drawdowns
GMRAX vs. VOO - Drawdown Comparison
The maximum GMRAX drawdown since its inception was -59.36%, which is greater than VOO's maximum drawdown of -33.99%. Use the drawdown chart below to compare losses from any high point for GMRAX and VOO.
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Drawdown Indicators
| GMRAX | VOO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.36% | -33.99% | -25.37% |
Max Drawdown (1Y)Largest decline over 1 year | -13.93% | -11.98% | -1.95% |
Max Drawdown (5Y)Largest decline over 5 years | -32.00% | -24.52% | -7.48% |
Max Drawdown (10Y)Largest decline over 10 years | -41.78% | -33.99% | -7.79% |
Current DrawdownCurrent decline from peak | -8.00% | -5.55% | -2.45% |
Average DrawdownAverage peak-to-trough decline | -12.67% | -3.72% | -8.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.74% | 2.55% | +1.19% |
Volatility
GMRAX vs. VOO - Volatility Comparison
Nationwide Small Cap Index Fund (GMRAX) has a higher volatility of 7.52% compared to Vanguard S&P 500 ETF (VOO) at 5.34%. This indicates that GMRAX's price experiences larger fluctuations and is considered to be riskier than VOO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GMRAX | VOO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.52% | 5.34% | +2.18% |
Volatility (6M)Calculated over the trailing 6-month period | 14.55% | 9.47% | +5.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.32% | 18.11% | +5.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.66% | 16.82% | +5.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.50% | 17.99% | +5.51% |