NWAUX vs. GQEFX

Last updated Aug 4, 2026

NWAUX (Nationwide GQG US Quality Equity Fund) and GQEFX (GMO Quality Fund Class IV) are both Quality Factor funds. Over the past 5 years, NWAUX returned 9.18%/yr vs 12.73%/yr for GQEFX. Their 0.63 correlation means they have sometimes moved together and sometimes differently. NWAUX charges 0.74%/yr vs 0.47%/yr for GQEFX.

Performance

NWAUX vs. GQEFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nationwide GQG US Quality Equity Fund (NWAUX) and GMO Quality Fund Class IV (GQEFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NWAUX achieves a 6.48% return, which is significantly lower than GQEFX's 7.42% return.

NWAUX

• 1D: 0.91%
• 1M: 1.19%
• 6M: 2.96%
• YTD: 6.48%
• 1Y: 7.04%
• 3Y*: 11.36%
• 5Y*: 9.18%
• 10Y*: —
• ALL TIME*: 11.72%

GQEFX

• 1D: 0.82%
• 1M: 0.72%
• 6M: 4.91%
• YTD: 7.42%
• 1Y: 22.67%
• 3Y*: 16.19%
• 5Y*: 12.73%
• 10Y*: —
• ALL TIME*: 15.63%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
GQEFX GMO Quality Fund Class IV	$0.00	$0.00	$0.00
NWAUX Nationwide GQG US Quality Equity Fund	$0.00	$0.00	$0.00

NWAUX vs. GQEFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
NWAUX Nationwide GQG US Quality Equity Fund	6.48%	-4.92%	27.90%	18.30%	-3.23%	22.65%
GQEFX GMO Quality Fund Class IV	7.42%	19.64%	17.54%	28.95%	-15.30%	27.78%

Correlation

The correlation between NWAUX and GQEFX is -0.08, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.08
Correlation (3Y) Balances recent behavior with more history.	0.49
Correlation (5Y) Shows whether the relationship held over a longer period.	0.62
Correlation (All Time) Calculated using the full available price history since Mar 9, 2021	0.63

The correlation between NWAUX and GQEFX shifts across timeframes, from -0.08 (1 year) to 0.63 (all time), reflecting how their relationship changes across market environments.

Return for Risk

NWAUX vs. GQEFX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

NWAUX

NWAUX Risk / Return Rank: 14
NWAUX Sharpe Ratio Rank: 15
NWAUX Sortino Ratio Rank: 15
NWAUX Omega Ratio Rank: 14
NWAUX Calmar Ratio Rank: 14
NWAUX Martin Ratio Rank: 12

GQEFX

GQEFX Risk / Return Rank: 52
GQEFX Sharpe Ratio Rank: 65
GQEFX Sortino Ratio Rank: 62
GQEFX Omega Ratio Rank: 55
GQEFX Calmar Ratio Rank: 37
GQEFX Martin Ratio Rank: 42

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

NWAUX vs. GQEFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nationwide GQG US Quality Equity Fund (NWAUX) and GMO Quality Fund Class IV (GQEFX). 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	GQEFX	Difference
Sharpe ratio: Return per unit of total volatility	0.63	1.66	-1.03
Sortino ratio: Return per unit of downside risk	0.98	2.34	-1.35
Omega ratio: Gain probability vs. loss probability	1.11	1.29	-0.17
Calmar ratio: Return relative to maximum drawdown	0.78	1.67	-0.89
Martin ratio: Return relative to average drawdown	1.77	6.61	-4.84

NWAUX vs. GQEFX - Sharpe Ratio Comparison

The current NWAUX Sharpe Ratio is 0.63, which is lower than the GQEFX Sharpe Ratio of 1.66. The chart below compares the historical Sharpe Ratios of NWAUX and GQEFX, 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. GQEFX - Drawdown Comparison

The maximum NWAUX drawdown since its inception was -21.07%, smaller than the maximum GQEFX drawdown of -30.42%. Use the drawdown chart below to compare losses from any high point for NWAUX and GQEFX.

Drawdown Indicators

	NWAUX	GQEFX	Difference
Max Drawdown Largest peak-to-trough decline	-21.07%	-30.42%	+9.35%
Max Drawdown (1Y) Largest decline over 1 year	-8.55%	-12.74%	+4.19%
Max Drawdown (3Y) Largest decline over 3 years	-19.31%	-15.55%	-3.76%
Max Drawdown (5Y) Largest decline over 5 years	-21.07%	-24.22%	+3.15%
Current Drawdown Current decline from peak	-9.76%	0.00%	-9.76%
Average Drawdown Average peak-to-trough decline	-7.04%	-4.11%	-2.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.78%	3.22%	+0.56%

Volatility

NWAUX vs. GQEFX - Volatility Comparison

The current volatility for Nationwide GQG US Quality Equity Fund (NWAUX) is 2.80%, while GMO Quality Fund Class IV (GQEFX) has a volatility of 3.21%. This indicates that NWAUX experiences smaller price fluctuations and is considered to be less risky than GQEFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NWAUX	GQEFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.80%	3.21%	-0.41%
Volatility (6M) Calculated over the trailing 6-month period	8.34%	10.18%	-1.84%
Volatility (1Y) Calculated over the trailing 1-year period	10.60%	12.82%	-2.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.11%	15.94%	+0.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.83%	17.69%	-1.86%

NWAUX vs. GQEFX - Expense Ratio Comparison

NWAUX has a 0.74% expense ratio, which is higher than GQEFX's 0.47% expense ratio.

Dividends

NWAUX vs. GQEFX - Dividend Comparison

NWAUX's dividend yield for the trailing twelve months is around 4.89%, less than GQEFX's 11.16% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
GQEFX GMO Quality Fund Class IV	11.16%	11.15%	3.70%	3.43%	11.84%	10.23%	13.62%	8.09%	21.69%	7.08%
NWAUX Nationwide GQG US Quality Equity Fund	4.89%	4.35%	13.58%	0.40%	1.93%	0.60%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both NWAUX and GQEFX in my portfolio?

NWAUX and GQEFX have a correlation of -0.08, 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 GQEFX?

GQEFX has higher volatility (3.21%) compared to NWAUX (2.80%). In terms of maximum drawdown, NWAUX dropped -21.07% vs GQEFX's -30.42%.

Which has better risk-adjusted returns?

GQEFX currently has the higher Sharpe Ratio (1.66 vs 0.63), 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.