NWAUX vs. AUEIX

Last updated Jun 25, 2026

NWAUX (Nationwide GQG US Quality Equity Fund) and AUEIX (AQR Large Cap Defensive Style Fund) are both Large Cap Blend Equities funds. Over the past 5 years, NWAUX returned 9.32%/yr vs 6.17%/yr for AUEIX. A 0.68 correlation means they provide meaningful diversification when combined. NWAUX charges 0.74%/yr vs 0.37%/yr for AUEIX.

Performance

NWAUX vs. AUEIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nationwide GQG US Quality Equity Fund (NWAUX) and AQR Large Cap Defensive Style Fund (AUEIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with NWAUX having a 4.50% return and AUEIX slightly higher at 4.70%.

NWAUX

• 1D: 1.79%
• 1M: -3.59%
• YTD: 4.50%
• 6M: 4.35%
• 1Y: 2.10%
• 3Y*: 12.33%
• 5Y*: 9.32%
• 10Y*: —

AUEIX

• 1D: -0.54%
• 1M: -1.23%
• YTD: 4.70%
• 6M: 3.41%
• 1Y: 5.86%
• 3Y*: 10.71%
• 5Y*: 6.17%
• 10Y*: 10.95%

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

NWAUX vs. AUEIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
NWAUX Nationwide GQG US Quality Equity Fund	4.50%	-4.92%	27.90%	18.30%	-3.23%	22.65%
AUEIX AQR Large Cap Defensive Style Fund	4.70%	6.95%	13.85%	9.49%	-13.81%	25.69%

Correlation

The correlation between NWAUX and AUEIX is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.41
Correlation (3Y) Calculated over the trailing 3-year period	0.55
Correlation (5Y) Calculated over the trailing 5-year period	0.67
Correlation (All Time) Calculated using the full available price history since Mar 9, 2021	0.68

Over the past year, the correlation between NWAUX and AUEIX has dropped to 0.41 - well below their long-term average of 0.68, suggesting their price drivers have been diverging.

Return for Risk

NWAUX vs. AUEIX — Risk / Return Rank

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

NWAUX

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

AUEIX

AUEIX Risk / Return Rank: 11
AUEIX Sharpe Ratio Rank: 10
AUEIX Sortino Ratio Rank: 10
AUEIX Omega Ratio Rank: 9
AUEIX Calmar Ratio Rank: 12
AUEIX Martin Ratio Rank: 14

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.

NWAUX vs. AUEIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nationwide GQG US Quality Equity Fund (NWAUX) and AQR Large Cap Defensive Style Fund (AUEIX). 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.

	NWAUX	AUEIX	Difference
Sharpe ratio: Return per unit of total volatility	0.21	0.75	-0.53
Sortino ratio: Return per unit of downside risk	0.38	1.10	-0.72
Omega ratio: Gain probability vs. loss probability	1.04	1.13	-0.09
Calmar ratio: Return relative to maximum drawdown	0.26	1.05	-0.79
Martin ratio: Return relative to average drawdown	0.67	3.47	-2.80

NWAUX vs. AUEIX - Sharpe Ratio Comparison

The current NWAUX Sharpe Ratio is 0.21, which is lower than the AUEIX Sharpe Ratio of 0.75. The chart below compares the historical Sharpe Ratios of NWAUX and AUEIX, 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

NWAUX vs. AUEIX - Drawdown Comparison

The maximum NWAUX drawdown since its inception was -21.07%, smaller than the maximum AUEIX drawdown of -30.82%. Use the drawdown chart below to compare losses from any high point for NWAUX and AUEIX.

Drawdown Indicators

	NWAUX	AUEIX	Difference
Max Drawdown Largest peak-to-trough decline	-21.07%	-30.82%	+9.75%
Max Drawdown (1Y) Largest decline over 1 year	-8.55%	-5.91%	-2.64%
Max Drawdown (3Y) Largest decline over 3 years	-19.31%	-10.27%	-9.04%
Max Drawdown (5Y) Largest decline over 5 years	-21.07%	-22.08%	+1.01%
Max Drawdown (10Y) Largest decline over 10 years	—	-30.82%	—
Current Drawdown Current decline from peak	-11.44%	-2.27%	-9.17%
Average Drawdown Average peak-to-trough decline	-6.96%	-3.41%	-3.55%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.34%	1.79%	+1.55%

Volatility

NWAUX vs. AUEIX - Volatility Comparison

Nationwide GQG US Quality Equity Fund (NWAUX) has a higher volatility of 4.14% compared to AQR Large Cap Defensive Style Fund (AUEIX) at 3.48%. This indicates that NWAUX's price experiences larger fluctuations and is considered to be riskier than AUEIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NWAUX	AUEIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.14%	3.48%	+0.66%
Volatility (6M) Calculated over the trailing 6-month period	8.12%	6.28%	+1.84%
Volatility (1Y) Calculated over the trailing 1-year period	10.56%	8.41%	+2.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.14%	13.03%	+3.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.92%	15.20%	+0.72%

NWAUX vs. AUEIX - Expense Ratio Comparison

NWAUX has a 0.74% expense ratio, which is higher than AUEIX's 0.37% expense ratio.

Dividends

NWAUX vs. AUEIX - Dividend Comparison

NWAUX's dividend yield for the trailing twelve months is around 4.98%, less than AUEIX's 21.68% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AUEIX AQR Large Cap Defensive Style Fund	21.68%	22.70%	24.31%	24.28%	10.26%	2.54%	1.29%	1.12%	1.67%	2.36%	1.99%	6.18%
NWAUX Nationwide GQG US Quality Equity Fund	4.98%	4.35%	13.58%	0.40%	1.93%	0.60%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both NWAUX and AUEIX in my portfolio?

NWAUX and AUEIX have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NWAUX or AUEIX?

NWAUX has higher volatility (4.14%) compared to AUEIX (3.48%). In terms of maximum drawdown, NWAUX dropped -21.07% vs AUEIX's -30.82%.

Which has better risk-adjusted returns?

AUEIX currently has the higher Sharpe Ratio (0.75 vs 0.21), 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.