NWAQX vs. GIIAX

Last updated Jun 6, 2026

NWAQX (Nationwide Destination 2065 Fund) and GIIAX (Nationwide International Index Fund) are both mutual funds - NWAQX is a Target Retirement Date fund managed by Nationwide, while GIIAX is a Foreign Large Cap Equities fund managed by Nationwide. Over the past 5 years, NWAQX returned 8.88%/yr vs 7.93%/yr for GIIAX. Their correlation of 0.87 suggests significant overlap in exposure. NWAQX charges 0.60%/yr vs 0.71%/yr for GIIAX.

Performance

NWAQX vs. GIIAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nationwide Destination 2065 Fund (NWAQX) and Nationwide International Index Fund (GIIAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NWAQX achieves a 11.26% return, which is significantly higher than GIIAX's 8.95% return.

NWAQX

• 1D: 0.52%
• 1M: 1.91%
• YTD: 11.26%
• 6M: 12.01%
• 1Y: 25.88%
• 3Y*: 18.42%
• 5Y*: 8.88%
• 10Y*: —

GIIAX

• 1D: 0.53%
• 1M: -0.09%
• YTD: 8.95%
• 6M: 11.21%
• 1Y: 21.07%
• 3Y*: 16.29%
• 5Y*: 7.93%
• 10Y*: 8.63%

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

NWAQX vs. GIIAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
NWAQX Nationwide Destination 2065 Fund	11.26%	19.12%	12.92%	20.25%	-19.01%	17.34%	24.26%
GIIAX Nationwide International Index Fund	8.95%	31.11%	3.05%	16.88%	-14.43%	10.67%	19.68%

Correlation

The correlation between NWAQX and GIIAX is 0.89, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.89
Correlation (3Y) Calculated over the trailing 3-year period	0.85
Correlation (5Y) Calculated over the trailing 5-year period	0.87
Correlation (All Time) Calculated using the full available price history since Mar 2, 2020	0.87

The correlation between NWAQX and GIIAX has been stable across timeframes, ranging from 0.85 to 0.89 - a consistent structural relationship.

Return for Risk

NWAQX vs. GIIAX — Risk / Return Rank

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

NWAQX

NWAQX Risk / Return Rank: 59
NWAQX Sharpe Ratio Rank: 57
NWAQX Sortino Ratio Rank: 56
NWAQX Omega Ratio Rank: 53
NWAQX Calmar Ratio Rank: 60
NWAQX Martin Ratio Rank: 69

GIIAX

GIIAX Risk / Return Rank: 28
GIIAX Sharpe Ratio Rank: 27
GIIAX Sortino Ratio Rank: 27
GIIAX Omega Ratio Rank: 27
GIIAX Calmar Ratio Rank: 27
GIIAX Martin Ratio Rank: 31

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.

NWAQX vs. GIIAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nationwide Destination 2065 Fund (NWAQX) and Nationwide International Index Fund (GIIAX). 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.

	NWAQX	GIIAX	Difference
Sharpe ratio: Return per unit of total volatility	2.17	1.44	+0.74
Sortino ratio: Return per unit of downside risk	3.08	2.08	+1.00
Omega ratio: Gain probability vs. loss probability	1.39	1.26	+0.13
Calmar ratio: Return relative to maximum drawdown	2.87	1.87	+1.01
Martin ratio: Return relative to average drawdown	12.75	6.83	+5.91
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NWAQX vs. GIIAX - Sharpe Ratio Comparison

The current NWAQX Sharpe Ratio is 2.17, which is higher than the GIIAX Sharpe Ratio of 1.44. The chart below compares the historical Sharpe Ratios of NWAQX and GIIAX, 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

	NWAQX	GIIAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.17	1.44	+0.74
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.59	0.51	+0.08
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.53	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.69	0.22	+0.47

Drawdowns

NWAQX vs. GIIAX - Drawdown Comparison

The maximum NWAQX drawdown since its inception was -29.29%, smaller than the maximum GIIAX drawdown of -61.28%. Use the drawdown chart below to compare losses from any high point for NWAQX and GIIAX.

Drawdown Indicators

	NWAQX	GIIAX	Difference
Max Drawdown Largest peak-to-trough decline	-29.29%	-61.28%	+31.99%
Max Drawdown (1Y) Largest decline over 1 year	-8.98%	-11.21%	+2.23%
Max Drawdown (3Y) Largest decline over 3 years	-15.18%	-13.63%	-1.55%
Max Drawdown (5Y) Largest decline over 5 years	-26.97%	-29.61%	+2.64%
Max Drawdown (10Y) Largest decline over 10 years	—	-34.23%	—
Current Drawdown Current decline from peak	-0.32%	-0.88%	+0.56%
Average Drawdown Average peak-to-trough decline	-6.28%	-16.06%	+9.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.02%	3.06%	-1.04%

Volatility

NWAQX vs. GIIAX - Volatility Comparison

The current volatility for Nationwide Destination 2065 Fund (NWAQX) is 3.59%, while Nationwide International Index Fund (GIIAX) has a volatility of 4.62%. This indicates that NWAQX experiences smaller price fluctuations and is considered to be less risky than GIIAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NWAQX	GIIAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.59%	4.62%	-1.03%
Volatility (6M) Calculated over the trailing 6-month period	9.55%	11.96%	-2.41%
Volatility (1Y) Calculated over the trailing 1-year period	11.88%	14.56%	-2.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.22%	15.69%	-0.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.69%	16.36%	+2.33%

NWAQX vs. GIIAX - Expense Ratio Comparison

NWAQX has a 0.60% expense ratio, which is lower than GIIAX's 0.71% expense ratio.

Dividends

NWAQX vs. GIIAX - Dividend Comparison

NWAQX's dividend yield for the trailing twelve months is around 5.88%, less than GIIAX's 6.56% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GIIAX Nationwide International Index Fund	6.56%	7.14%	3.84%	2.99%	1.90%	3.69%	1.58%	4.20%	6.17%	6.21%	2.87%	3.36%
NWAQX Nationwide Destination 2065 Fund	5.88%	6.54%	9.49%	2.23%	1.38%	5.43%	6.71%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both NWAQX and GIIAX in my portfolio?

NWAQX and GIIAX have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NWAQX or GIIAX?

GIIAX has higher volatility (4.62%) compared to NWAQX (3.59%). In terms of maximum drawdown, NWAQX dropped -29.29% vs GIIAX's -61.28%.

Which has better risk-adjusted returns?

NWAQX currently has the higher Sharpe Ratio (2.17 vs 1.44), 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.