MUIFX vs. VSMPX

Last updated Jun 5, 2026

MUIFX (Nationwide Fund) and VSMPX (Vanguard Total Stock Market Index Fund Institutional Plus Shares) are both Large Cap Blend Equities funds. Over the past 10 years, MUIFX returned 13.94%/yr vs 15.05%/yr for VSMPX. With a 0.97 correlation, they move nearly in lockstep. MUIFX charges 0.65%/yr vs 0.02%/yr for VSMPX.

Performance

MUIFX vs. VSMPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nationwide Fund (MUIFX) and Vanguard Total Stock Market Index Fund Institutional Plus Shares (VSMPX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MUIFX achieves a 6.03% return, which is significantly lower than VSMPX's 11.14% return. Over the past 10 years, MUIFX has underperformed VSMPX with an annualized return of 13.94%, while VSMPX has yielded a comparatively higher 15.05% annualized return.

MUIFX

• 1D: -0.71%
• 1M: 2.55%
• YTD: 6.03%
• 6M: 6.28%
• 1Y: 18.54%
• 3Y*: 18.15%
• 5Y*: 10.91%
• 10Y*: 13.94%

VSMPX

• 1D: -0.76%
• 1M: 4.07%
• YTD: 11.14%
• 6M: 10.87%
• 1Y: 28.12%
• 3Y*: 22.06%
• 5Y*: 12.70%
• 10Y*: 15.05%

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

MUIFX vs. VSMPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MUIFX Nationwide Fund	6.03%	14.21%	21.61%	25.72%	-19.09%	25.37%	22.59%	30.95%	-6.06%	19.79%
VSMPX Vanguard Total Stock Market Index Fund Institutional Plus Shares	11.14%	17.15%	23.26%	26.53%	-19.50%	25.74%	21.01%	30.79%	-5.16%	21.19%

Correlation

The correlation between MUIFX and VSMPX is 0.95 - 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	0.95
Correlation (3Y) Calculated over the trailing 3-year period	0.97
Correlation (5Y) Calculated over the trailing 5-year period	0.97
Correlation (10Y) Calculated over the trailing 10-year period	0.97
Correlation (All Time) Calculated using the full available price history since Jan 5, 2016	0.97

The correlation between MUIFX and VSMPX has been stable across timeframes, ranging from 0.95 to 0.97 - a consistent structural relationship.

Return for Risk

MUIFX vs. VSMPX — Risk / Return Rank

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

MUIFX

MUIFX Risk / Return Rank: 32
MUIFX Sharpe Ratio Rank: 33
MUIFX Sortino Ratio Rank: 31
MUIFX Omega Ratio Rank: 34
MUIFX Calmar Ratio Rank: 26
MUIFX Martin Ratio Rank: 35

VSMPX

VSMPX Risk / Return Rank: 64
VSMPX Sharpe Ratio Rank: 61
VSMPX Sortino Ratio Rank: 56
VSMPX Omega Ratio Rank: 56
VSMPX Calmar Ratio Rank: 68
VSMPX Martin Ratio Rank: 78

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.

MUIFX vs. VSMPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nationwide Fund (MUIFX) and Vanguard Total Stock Market Index Fund Institutional Plus Shares (VSMPX). 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.

	MUIFX	VSMPX	Difference
Sharpe ratio: Return per unit of total volatility	1.60	2.32	-0.72
Sortino ratio: Return per unit of downside risk	2.27	3.17	-0.91
Omega ratio: Gain probability vs. loss probability	1.30	1.42	-0.12
Calmar ratio: Return relative to maximum drawdown	1.83	3.17	-1.34
Martin ratio: Return relative to average drawdown	7.66	14.62	-6.97
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MUIFX vs. VSMPX - Sharpe Ratio Comparison

The current MUIFX Sharpe Ratio is 1.60, which is lower than the VSMPX Sharpe Ratio of 2.32. The chart below compares the historical Sharpe Ratios of MUIFX and VSMPX, 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

	MUIFX	VSMPX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.60	2.32	-0.72
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.63	0.74	-0.11
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.76	0.82	-0.06
Sharpe Ratio (All Time) Calculated using the full available price history	0.54	0.82	-0.29

Drawdowns

MUIFX vs. VSMPX - Drawdown Comparison

The maximum MUIFX drawdown since its inception was -58.31%, which is greater than VSMPX's maximum drawdown of -34.97%. Use the drawdown chart below to compare losses from any high point for MUIFX and VSMPX.

Drawdown Indicators

	MUIFX	VSMPX	Difference
Max Drawdown Largest peak-to-trough decline	-58.31%	-34.97%	-23.34%
Max Drawdown (1Y) Largest decline over 1 year	-10.27%	-8.92%	-1.35%
Max Drawdown (3Y) Largest decline over 3 years	-18.71%	-19.36%	+0.65%
Max Drawdown (5Y) Largest decline over 5 years	-25.44%	-25.35%	-0.09%
Max Drawdown (10Y) Largest decline over 10 years	-34.37%	-34.97%	+0.60%
Current Drawdown Current decline from peak	-0.71%	-0.76%	+0.05%
Average Drawdown Average peak-to-trough decline	-9.19%	-4.59%	-4.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.45%	1.93%	+0.52%

Volatility

MUIFX vs. VSMPX - Volatility Comparison

Nationwide Fund (MUIFX) and Vanguard Total Stock Market Index Fund Institutional Plus Shares (VSMPX) have volatilities of 3.05% and 3.05%, 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

	MUIFX	VSMPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.05%	3.05%	0.00%
Volatility (6M) Calculated over the trailing 6-month period	9.11%	9.20%	-0.09%
Volatility (1Y) Calculated over the trailing 1-year period	11.76%	12.22%	-0.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.40%	17.36%	+0.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.30%	18.41%	-0.11%

MUIFX vs. VSMPX - Expense Ratio Comparison

MUIFX has a 0.65% expense ratio, which is higher than VSMPX's 0.02% expense ratio.

Dividends

MUIFX vs. VSMPX - Dividend Comparison

MUIFX's dividend yield for the trailing twelve months is around 24.91%, more than VSMPX's 1.02% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MUIFX Nationwide Fund	24.91%	26.23%	11.10%	3.28%	4.19%	14.53%	3.15%	2.94%	27.39%	9.55%	4.40%	3.85%
VSMPX Vanguard Total Stock Market Index Fund Institutional Plus Shares	1.02%	1.13%	1.27%	1.43%	1.67%	1.22%	1.43%	1.78%	2.05%	1.73%	1.95%	0.00%

Frequently Asked Questions

Can I hold both MUIFX and VSMPX in my portfolio?

With a correlation of 0.95, MUIFX and VSMPX 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, MUIFX or VSMPX?

VSMPX has higher volatility (3.05%) compared to MUIFX (3.05%). In terms of maximum drawdown, MUIFX dropped -58.31% vs VSMPX's -34.97%.

Which has better risk-adjusted returns?

VSMPX currently has the higher Sharpe Ratio (2.32 vs 1.60), 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.