NWHFX vs. NSDVX

Last updated Aug 4, 2026

NWHFX (Nationwide Bailard Cognitive Value Fund) and NSDVX (North Star Dividend Fund) are both Small Cap Value Equities funds. Over the past 10 years, NWHFX returned 10.57%/yr vs 7.16%/yr for NSDVX. Their correlation of 0.86 means they have usually moved in the same direction. NWHFX charges 1.00%/yr vs 1.37%/yr for NSDVX.

Performance

NWHFX vs. NSDVX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nationwide Bailard Cognitive Value Fund (NWHFX) and North Star Dividend Fund (NSDVX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with NWHFX having a 22.58% return and NSDVX slightly lower at 22.08%. Over the past 10 years, NWHFX has outperformed NSDVX with an annualized return of 10.57%, while NSDVX has yielded a comparatively lower 7.16% annualized return.

NWHFX

• 1D: 0.00%
• 1M: -0.64%
• 6M: 13.92%
• YTD: 22.58%
• 1Y: 39.98%
• 3Y*: 16.92%
• 5Y*: 10.36%
• 10Y*: 10.57%
• ALL TIME*: 9.73%

NSDVX

• 1D: -0.54%
• 1M: 0.07%
• 6M: 13.21%
• YTD: 22.08%
• 1Y: 28.73%
• 3Y*: 10.76%
• 5Y*: 5.81%
• 10Y*: 7.16%
• ALL TIME*: 8.05%

*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)
NSDVX North Star Dividend Fund	$0.00	$0.00	$0.00
NWHFX Nationwide Bailard Cognitive Value Fund	$0.00	$0.00	$0.00

NWHFX vs. NSDVX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NWHFX Nationwide Bailard Cognitive Value Fund	22.58%	9.95%	10.23%	15.78%	-12.91%	36.15%	8.82%	21.18%	-16.17%	4.04%
NSDVX North Star Dividend Fund	22.08%	-1.31%	9.25%	8.06%	-6.36%	16.16%	6.51%	16.13%	-12.35%	8.27%

Correlation

The correlation between NWHFX and NSDVX is 0.82, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.82
Correlation (3Y) Balances recent behavior with more history.	0.85
Correlation (5Y) Shows whether the relationship held over a longer period.	0.88
Correlation (10Y) Provides a long-term view across more market conditions.	0.86
Correlation (All Time) Calculated using the full available price history since Sep 17, 2013	0.86

The correlation between NWHFX and NSDVX has been stable across timeframes, ranging from 0.82 to 0.88 - a consistent structural relationship.

Return for Risk

NWHFX vs. NSDVX — Risk / Return Rank

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

NWHFX

NWHFX Risk / Return Rank: 91
NWHFX Sharpe Ratio Rank: 90
NWHFX Sortino Ratio Rank: 90
NWHFX Omega Ratio Rank: 83
NWHFX Calmar Ratio Rank: 95
NWHFX Martin Ratio Rank: 95

NSDVX

NSDVX Risk / Return Rank: 70
NSDVX Sharpe Ratio Rank: 75
NSDVX Sortino Ratio Rank: 78
NSDVX Omega Ratio Rank: 70
NSDVX Calmar Ratio Rank: 75
NSDVX Martin Ratio Rank: 52

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.

NWHFX vs. NSDVX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nationwide Bailard Cognitive Value Fund (NWHFX) and North Star Dividend Fund (NSDVX). 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.

	NWHFX	NSDVX	Difference
Sharpe ratio: Return per unit of total volatility	2.31	1.82	+0.50
Sortino ratio: Return per unit of downside risk	3.39	2.76	+0.62
Omega ratio: Gain probability vs. loss probability	1.40	1.32	+0.08
Calmar ratio: Return relative to maximum drawdown	4.47	2.54	+1.93
Martin ratio: Return relative to average drawdown	16.23	7.60	+8.63

NWHFX vs. NSDVX - Sharpe Ratio Comparison

The current NWHFX Sharpe Ratio is 2.31, which is comparable to the NSDVX Sharpe Ratio of 1.82. The chart below compares the historical Sharpe Ratios of NWHFX and NSDVX, 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

NWHFX vs. NSDVX - Drawdown Comparison

The maximum NWHFX drawdown since its inception was -47.51%, which is greater than NSDVX's maximum drawdown of -38.64%. Use the drawdown chart below to compare losses from any high point for NWHFX and NSDVX.

Drawdown Indicators

	NWHFX	NSDVX	Difference
Max Drawdown Largest peak-to-trough decline	-47.51%	-38.64%	-8.87%
Max Drawdown (1Y) Largest decline over 1 year	-8.50%	-10.48%	+1.98%
Max Drawdown (3Y) Largest decline over 3 years	-24.68%	-16.41%	-8.27%
Max Drawdown (5Y) Largest decline over 5 years	-24.68%	-21.27%	-3.41%
Max Drawdown (10Y) Largest decline over 10 years	-47.51%	-38.64%	-8.87%
Current Drawdown Current decline from peak	-1.85%	-2.21%	+0.36%
Average Drawdown Average peak-to-trough decline	-7.27%	-6.48%	-0.79%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.34%	3.50%	-1.16%

Volatility

NWHFX vs. NSDVX - Volatility Comparison

The current volatility for Nationwide Bailard Cognitive Value Fund (NWHFX) is 3.37%, while North Star Dividend Fund (NSDVX) has a volatility of 3.73%. This indicates that NWHFX experiences smaller price fluctuations and is considered to be less risky than NSDVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NWHFX	NSDVX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.37%	3.73%	-0.36%
Volatility (6M) Calculated over the trailing 6-month period	11.40%	9.54%	+1.86%
Volatility (1Y) Calculated over the trailing 1-year period	16.46%	14.68%	+1.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.30%	16.02%	+4.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.77%	17.75%	+5.02%

NWHFX vs. NSDVX - Expense Ratio Comparison

NWHFX has a 1.00% expense ratio, which is lower than NSDVX's 1.37% expense ratio.

Dividends

NWHFX vs. NSDVX - Dividend Comparison

NWHFX's dividend yield for the trailing twelve months is around 9.45%, more than NSDVX's 2.75% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NSDVX North Star Dividend Fund	2.75%	3.45%	7.00%	2.52%	6.57%	3.31%	1.52%	2.64%	6.87%	2.48%	4.67%	3.51%
NWHFX Nationwide Bailard Cognitive Value Fund	9.45%	11.48%	13.85%	1.38%	3.31%	4.98%	0.83%	0.65%	15.39%	11.63%	0.62%	1.21%

Frequently Asked Questions

Can I hold both NWHFX and NSDVX in my portfolio?

NWHFX and NSDVX have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NWHFX or NSDVX?

NSDVX has higher volatility (3.73%) compared to NWHFX (3.37%). In terms of maximum drawdown, NWHFX dropped -47.51% vs NSDVX's -38.64%.

Which has better risk-adjusted returns?

NWHFX currently has the higher Sharpe Ratio (2.31 vs 1.82), 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.