GRISX vs. VOO

Last updated Jun 23, 2026

GRISX (Nationwide S&P 500 Index Fund) and VOO (Vanguard S&P 500 ETF) are both S&P 500 funds tracking the S&P 500 Index, from Nationwide and Vanguard respectively. Both are passively managed. Over the past 10 years, GRISX returned 15.19%/yr vs 15.77%/yr for VOO. With a 0.99 correlation, they move nearly in lockstep. GRISX charges 0.44%/yr vs 0.03%/yr for VOO.

Performance

GRISX vs. VOO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nationwide S&P 500 Index Fund (GRISX) and Vanguard S&P 500 ETF (VOO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with GRISX having a 10.00% return and VOO slightly lower at 9.75%. Both investments have delivered pretty close results over the past 10 years, with GRISX having a 15.19% annualized return and VOO not far ahead at 15.77%.

GRISX

• 1D: 1.08%
• 1M: 0.43%
• YTD: 10.00%
• 6M: 9.47%
• 1Y: 26.76%
• 3Y*: 20.31%
• 5Y*: 13.56%
• 10Y*: 15.19%

VOO

• 1D: -0.29%
• 1M: 0.08%
• YTD: 9.75%
• 6M: 9.30%
• 1Y: 26.77%
• 3Y*: 21.36%
• 5Y*: 13.58%
• 10Y*: 15.77%

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

GRISX vs. VOO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GRISX Nationwide S&P 500 Index Fund	10.00%	17.41%	24.13%	25.55%	-18.49%	28.32%	17.92%	30.94%	-3.84%	21.35%
VOO Vanguard S&P 500 ETF	9.75%	17.82%	24.98%	26.32%	-18.17%	28.79%	18.32%	31.37%	-4.50%	21.77%

Correlation

The correlation between GRISX and VOO is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	1.00
Correlation (3Y) Calculated over the trailing 3-year period	0.99
Correlation (5Y) Calculated over the trailing 5-year period	1.00
Correlation (10Y) Calculated over the trailing 10-year period	0.99
Correlation (All Time) Calculated using the full available price history since Sep 9, 2010	0.99

The correlation between GRISX and VOO has been stable across timeframes, ranging from 0.99 to 1.00 - a consistent structural relationship.

Return for Risk

GRISX vs. VOO — Risk / Return Rank

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

GRISX

GRISX Risk / Return Rank: 64
GRISX Sharpe Ratio Rank: 62
GRISX Sortino Ratio Rank: 56
GRISX Omega Ratio Rank: 58
GRISX Calmar Ratio Rank: 65
GRISX Martin Ratio Rank: 77

VOO

VOO Risk / Return Rank: 68
VOO Sharpe Ratio Rank: 70
VOO Sortino Ratio Rank: 67
VOO Omega Ratio Rank: 69
VOO Calmar Ratio Rank: 63
VOO Martin Ratio Rank: 74

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.

GRISX vs. VOO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nationwide S&P 500 Index Fund (GRISX) 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.

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.

	GRISX	VOO	Difference
Sharpe ratio: Return per unit of total volatility	2.13	2.17	-0.04
Sortino ratio: Return per unit of downside risk	2.89	2.93	-0.05
Omega ratio: Gain probability vs. loss probability	1.39	1.39	-0.01
Calmar ratio: Return relative to maximum drawdown	2.97	3.02	-0.05
Martin ratio: Return relative to average drawdown	13.43	13.58	-0.16

GRISX vs. VOO - Sharpe Ratio Comparison

The current GRISX Sharpe Ratio is 2.13, which is comparable to the VOO Sharpe Ratio of 2.17. The chart below compares the historical Sharpe Ratios of GRISX and VOO, 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

GRISX vs. VOO - Drawdown Comparison

The maximum GRISX drawdown since its inception was -55.53%, which is greater than VOO's maximum drawdown of -33.99%. Use the drawdown chart below to compare losses from any high point for GRISX and VOO.

Drawdown Indicators

	GRISX	VOO	Difference
Max Drawdown Largest peak-to-trough decline	-55.53%	-33.99%	-21.54%
Max Drawdown (1Y) Largest decline over 1 year	-8.95%	-8.90%	-0.05%
Max Drawdown (3Y) Largest decline over 3 years	-18.78%	-18.69%	-0.09%
Max Drawdown (5Y) Largest decline over 5 years	-24.75%	-24.52%	-0.23%
Max Drawdown (10Y) Largest decline over 10 years	-33.85%	-33.99%	+0.14%
Current Drawdown Current decline from peak	-1.38%	-1.74%	+0.36%
Average Drawdown Average peak-to-trough decline	-10.84%	-3.68%	-7.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.98%	1.98%	0.00%

Volatility

GRISX vs. VOO - Volatility Comparison

Nationwide S&P 500 Index Fund (GRISX) and Vanguard S&P 500 ETF (VOO) have volatilities of 4.75% and 4.60%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GRISX	VOO	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.75%	4.60%	+0.15%
Volatility (6M) Calculated over the trailing 6-month period	9.91%	9.73%	+0.18%
Volatility (1Y) Calculated over the trailing 1-year period	12.49%	12.39%	+0.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.03%	16.90%	+0.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.12%	18.05%	+0.07%

GRISX vs. VOO - Expense Ratio Comparison

GRISX has a 0.44% expense ratio, which is higher than VOO's 0.03% expense ratio.

Dividends

GRISX vs. VOO - Dividend Comparison

GRISX's dividend yield for the trailing twelve months is around 4.66%, more than VOO's 1.04% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GRISX Nationwide S&P 500 Index Fund	4.66%	5.08%	2.62%	0.79%	1.67%	4.96%	1.27%	6.26%	18.54%	6.66%	7.42%	11.98%
VOO Vanguard S&P 500 ETF	1.04%	1.13%	1.24%	1.46%	1.69%	1.25%	1.54%	1.88%	2.06%	1.78%	2.02%	2.10%

Frequently Asked Questions

Can I hold both GRISX and VOO in my portfolio?

With a correlation of 1.00, GRISX and VOO move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, GRISX or VOO?

GRISX has higher volatility (4.75%) compared to VOO (4.60%). In terms of maximum drawdown, GRISX dropped -55.53% vs VOO's -33.99%.

Which has better risk-adjusted returns?

VOO currently has the higher Sharpe Ratio (2.17 vs 2.13), 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.