NWESX vs. FFGZX

Last updated Jun 23, 2026

NWESX (Nationwide Destination Retirement Fund) and FFGZX (Fidelity Freedom Index Income Fund Institutional Premium Class) are both Target Retirement Date funds. Over the past 10 years, NWESX returned 5.52%/yr vs 4.26%/yr for FFGZX. Their correlation of 0.88 suggests significant overlap in exposure. NWESX charges 0.38%/yr vs 0.08%/yr for FFGZX.

Performance

NWESX vs. FFGZX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nationwide Destination Retirement Fund (NWESX) and Fidelity Freedom Index Income Fund Institutional Premium Class (FFGZX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NWESX achieves a 5.12% return, which is significantly higher than FFGZX's 3.98% return. Over the past 10 years, NWESX has outperformed FFGZX with an annualized return of 5.52%, while FFGZX has yielded a comparatively lower 4.26% annualized return.

NWESX

• 1D: 0.64%
• 1M: 1.15%
• YTD: 5.12%
• 6M: 5.25%
• 1Y: 13.76%
• 3Y*: 9.61%
• 5Y*: 4.39%
• 10Y*: 5.52%

FFGZX

• 1D: 0.47%
• 1M: 0.81%
• YTD: 3.98%
• 6M: 4.04%
• 1Y: 9.64%
• 3Y*: 7.32%
• 5Y*: 3.15%
• 10Y*: 4.26%

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

NWESX vs. FFGZX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NWESX Nationwide Destination Retirement Fund	5.12%	12.66%	6.15%	11.26%	-14.14%	6.52%	10.59%	12.62%	-4.88%	10.06%
FFGZX Fidelity Freedom Index Income Fund Institutional Premium Class	3.98%	9.13%	5.02%	8.32%	-11.07%	2.85%	8.59%	10.68%	-0.80%	6.73%

Correlation

The correlation between NWESX and FFGZX is 0.94, 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	0.94
Correlation (3Y) Calculated over the trailing 3-year period	0.93
Correlation (5Y) Calculated over the trailing 5-year period	0.91
Correlation (10Y) Calculated over the trailing 10-year period	0.87
Correlation (All Time) Calculated using the full available price history since Jun 29, 2015	0.88

The correlation between NWESX and FFGZX has been stable across timeframes, ranging from 0.87 to 0.94 - a consistent structural relationship.

Return for Risk

NWESX vs. FFGZX — Risk / Return Rank

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

NWESX

NWESX Risk / Return Rank: 63
NWESX Sharpe Ratio Rank: 63
NWESX Sortino Ratio Rank: 69
NWESX Omega Ratio Rank: 64
NWESX Calmar Ratio Rank: 53
NWESX Martin Ratio Rank: 65

FFGZX

FFGZX Risk / Return Rank: 71
FFGZX Sharpe Ratio Rank: 71
FFGZX Sortino Ratio Rank: 75
FFGZX Omega Ratio Rank: 77
FFGZX Calmar Ratio Rank: 63
FFGZX Martin Ratio Rank: 70

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.

NWESX vs. FFGZX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nationwide Destination Retirement Fund (NWESX) and Fidelity Freedom Index Income Fund Institutional Premium Class (FFGZX). 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.

	NWESX	FFGZX	Difference
Sharpe ratio: Return per unit of total volatility	2.13	2.25	-0.12
Sortino ratio: Return per unit of downside risk	3.14	3.29	-0.15
Omega ratio: Gain probability vs. loss probability	1.40	1.45	-0.05
Calmar ratio: Return relative to maximum drawdown	2.67	2.91	-0.24
Martin ratio: Return relative to average drawdown	11.93	12.65	-0.72

NWESX vs. FFGZX - Sharpe Ratio Comparison

The current NWESX Sharpe Ratio is 2.13, which is comparable to the FFGZX Sharpe Ratio of 2.25. The chart below compares the historical Sharpe Ratios of NWESX and FFGZX, 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

NWESX vs. FFGZX - Drawdown Comparison

The maximum NWESX drawdown since its inception was -39.22%, which is greater than FFGZX's maximum drawdown of -14.94%. Use the drawdown chart below to compare losses from any high point for NWESX and FFGZX.

Drawdown Indicators

	NWESX	FFGZX	Difference
Max Drawdown Largest peak-to-trough decline	-39.22%	-14.94%	-24.28%
Max Drawdown (1Y) Largest decline over 1 year	-5.12%	-3.33%	-1.79%
Max Drawdown (3Y) Largest decline over 3 years	-6.44%	-4.76%	-1.68%
Max Drawdown (5Y) Largest decline over 5 years	-25.05%	-14.94%	-10.11%
Max Drawdown (10Y) Largest decline over 10 years	-25.05%	-14.94%	-10.11%
Current Drawdown Current decline from peak	-0.13%	-0.29%	+0.16%
Average Drawdown Average peak-to-trough decline	-6.17%	-2.26%	-3.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.14%	0.76%	+0.38%

Volatility

NWESX vs. FFGZX - Volatility Comparison

Nationwide Destination Retirement Fund (NWESX) has a higher volatility of 2.59% compared to Fidelity Freedom Index Income Fund Institutional Premium Class (FFGZX) at 1.92%. This indicates that NWESX's price experiences larger fluctuations and is considered to be riskier than FFGZX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NWESX	FFGZX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.59%	1.92%	+0.67%
Volatility (6M) Calculated over the trailing 6-month period	5.44%	3.69%	+1.75%
Volatility (1Y) Calculated over the trailing 1-year period	6.41%	4.31%	+2.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.18%	5.14%	+4.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.16%	4.46%	+3.70%

NWESX vs. FFGZX - Expense Ratio Comparison

NWESX has a 0.38% expense ratio, which is higher than FFGZX's 0.08% expense ratio.

Dividends

NWESX vs. FFGZX - Dividend Comparison

NWESX's dividend yield for the trailing twelve months is around 3.35%, more than FFGZX's 3.22% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FFGZX Fidelity Freedom Index Income Fund Institutional Premium Class	3.22%	3.30%	3.18%	2.88%	3.11%	2.10%	2.22%	7.35%	3.00%	1.95%	1.56%	1.06%
NWESX Nationwide Destination Retirement Fund	3.35%	3.78%	10.53%	5.51%	4.69%	10.16%	4.26%	4.93%	7.59%	5.04%	6.11%	8.26%

Frequently Asked Questions

Can I hold both NWESX and FFGZX in my portfolio?

With a correlation of 0.94, NWESX and FFGZX 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, NWESX or FFGZX?

NWESX has higher volatility (2.59%) compared to FFGZX (1.92%). In terms of maximum drawdown, NWESX dropped -39.22% vs FFGZX's -14.94%.

Which has better risk-adjusted returns?

FFGZX currently has the higher Sharpe Ratio (2.25 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.