NWHLX vs. EPDIX

Last updated Aug 1, 2026

NWHLX (Nationwide Bailard International Equities Fund) and EPDIX (EuroPac International Dividend Income Fund) are both Foreign Large Cap Equities funds. Over the past 10 years, NWHLX returned 9.45%/yr vs 9.45%/yr for EPDIX. Their 0.76 correlation means they have sometimes moved together and sometimes differently. NWHLX charges 0.93%/yr vs 1.25%/yr for EPDIX.

Performance

NWHLX vs. EPDIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nationwide Bailard International Equities Fund (NWHLX) and EuroPac International Dividend Income Fund (EPDIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NWHLX achieves a 16.76% return, which is significantly higher than EPDIX's 9.59% return. Over a longer period, both investments have demonstrated similar performance, with their 10-year annualized returns being quite close: NWHLX at 9.45% and EPDIX at 9.45%.

NWHLX

• 1D: 3.12%
• 1M: 1.46%
• 6M: 10.04%
• YTD: 16.76%
• 1Y: 32.59%
• 3Y*: 20.35%
• 5Y*: 11.63%
• 10Y*: 9.45%
• ALL TIME*: 7.96%

EPDIX

• 1D: 1.79%
• 1M: 3.58%
• 6M: 0.58%
• YTD: 9.59%
• 1Y: 37.63%
• 3Y*: 21.52%
• 5Y*: 14.62%
• 10Y*: 9.45%
• ALL TIME*: 6.74%

*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)
EPDIX EuroPac International Dividend Income Fund	$0.00	$0.00	$0.00
NWHLX Nationwide Bailard International Equities Fund	$0.00	$0.00	$0.00

NWHLX vs. EPDIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NWHLX Nationwide Bailard International Equities Fund	16.76%	34.77%	7.37%	21.75%	-15.90%	10.12%	8.25%	21.73%	-19.71%	24.73%
EPDIX EuroPac International Dividend Income Fund	9.59%	62.35%	0.87%	7.85%	1.53%	8.04%	9.23%	13.33%	-10.74%	15.81%

Correlation

The correlation between NWHLX and EPDIX is 0.74, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.74
Correlation (3Y) Balances recent behavior with more history.	0.70
Correlation (5Y) Shows whether the relationship held over a longer period.	0.74
Correlation (10Y) Provides a long-term view across more market conditions.	0.76
Correlation (All Time) Calculated using the full available price history since Jan 13, 2014	0.76

The correlation between NWHLX and EPDIX has been stable across timeframes, ranging from 0.70 to 0.76 - a consistent structural relationship.

Return for Risk

NWHLX vs. EPDIX — Risk / Return Rank

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

NWHLX

NWHLX Risk / Return Rank: 81
NWHLX Sharpe Ratio Rank: 82
NWHLX Sortino Ratio Rank: 79
NWHLX Omega Ratio Rank: 79
NWHLX Calmar Ratio Rank: 82
NWHLX Martin Ratio Rank: 82

EPDIX

EPDIX Risk / Return Rank: 87
EPDIX Sharpe Ratio Rank: 95
EPDIX Sortino Ratio Rank: 88
EPDIX Omega Ratio Rank: 88
EPDIX Calmar Ratio Rank: 91
EPDIX Martin Ratio Rank: 73

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.

NWHLX vs. EPDIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nationwide Bailard International Equities Fund (NWHLX) and EuroPac International Dividend Income Fund (EPDIX). 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.

	NWHLX	EPDIX	Difference
Sharpe ratio: Return per unit of total volatility	2.00	2.54	-0.54
Sortino ratio: Return per unit of downside risk	2.77	3.24	-0.47
Omega ratio: Gain probability vs. loss probability	1.37	1.45	-0.08
Calmar ratio: Return relative to maximum drawdown	2.82	3.43	-0.61
Martin ratio: Return relative to average drawdown	10.53	8.71	+1.82

NWHLX vs. EPDIX - Sharpe Ratio Comparison

The current NWHLX Sharpe Ratio is 2.00, which is comparable to the EPDIX Sharpe Ratio of 2.54. The chart below compares the historical Sharpe Ratios of NWHLX and EPDIX, 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

NWHLX vs. EPDIX - Drawdown Comparison

The maximum NWHLX drawdown since its inception was -38.83%, roughly equal to the maximum EPDIX drawdown of -38.23%. Use the drawdown chart below to compare losses from any high point for NWHLX and EPDIX.

Drawdown Indicators

	NWHLX	EPDIX	Difference
Max Drawdown Largest peak-to-trough decline	-38.83%	-38.23%	-0.60%
Max Drawdown (1Y) Largest decline over 1 year	-11.02%	-10.92%	-0.10%
Max Drawdown (3Y) Largest decline over 3 years	-13.74%	-13.01%	-0.73%
Max Drawdown (5Y) Largest decline over 5 years	-30.48%	-20.98%	-9.50%
Max Drawdown (10Y) Largest decline over 10 years	-38.83%	-32.84%	-5.99%
Current Drawdown Current decline from peak	0.00%	-6.30%	+6.30%
Average Drawdown Average peak-to-trough decline	-7.86%	-10.74%	+2.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.94%	4.29%	-1.35%

Volatility

NWHLX vs. EPDIX - Volatility Comparison

Nationwide Bailard International Equities Fund (NWHLX) has a higher volatility of 5.11% compared to EuroPac International Dividend Income Fund (EPDIX) at 3.77%. This indicates that NWHLX's price experiences larger fluctuations and is considered to be riskier than EPDIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NWHLX	EPDIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.11%	3.77%	+1.34%
Volatility (6M) Calculated over the trailing 6-month period	13.61%	12.35%	+1.26%
Volatility (1Y) Calculated over the trailing 1-year period	15.55%	14.80%	+0.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.72%	14.09%	+1.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.03%	14.83%	+1.20%

NWHLX vs. EPDIX - Expense Ratio Comparison

NWHLX has a 0.93% expense ratio, which is lower than EPDIX's 1.25% expense ratio.

Dividends

NWHLX vs. EPDIX - Dividend Comparison

NWHLX's dividend yield for the trailing twelve months is around 7.21%, more than EPDIX's 6.83% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EPDIX EuroPac International Dividend Income Fund	6.83%	7.71%	4.09%	3.32%	2.81%	2.31%	1.92%	2.68%	3.00%	2.93%	2.47%	3.88%
NWHLX Nationwide Bailard International Equities Fund	7.21%	8.12%	3.80%	2.75%	2.91%	2.77%	1.43%	2.71%	5.62%	2.05%	2.14%	2.81%

Frequently Asked Questions

Can I hold both NWHLX and EPDIX in my portfolio?

NWHLX and EPDIX have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NWHLX or EPDIX?

NWHLX has higher volatility (5.11%) compared to EPDIX (3.77%). In terms of maximum drawdown, NWHLX dropped -38.83% vs EPDIX's -38.23%.

Which has better risk-adjusted returns?

EPDIX currently has the higher Sharpe Ratio (2.54 vs 2.00), 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.