NWHLX vs. GIIAX
NWHLX (Nationwide Bailard International Equities Fund) and GIIAX (Nationwide International Index Fund) are both Foreign Large Cap Equities funds from Nationwide. Over the past 10 years, NWHLX returned 9.45%/yr vs 8.98%/yr for GIIAX. Their 0.97 correlation means they have historically moved very closely together. NWHLX charges 0.93%/yr vs 0.71%/yr for GIIAX.
Performance
NWHLX vs. GIIAX - Performance Comparison
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Returns By Period
In the year-to-date period, NWHLX achieves a 16.76% return, which is significantly higher than GIIAX's 12.14% return. Both investments have delivered pretty close results over the past 10 years, with NWHLX having a 9.45% annualized return and GIIAX not far behind at 8.98%.
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%
GIIAX
- 1D
- 2.95%
- 1M
- 1.95%
- 6M
- 6.79%
- YTD
- 12.14%
- 1Y
- 25.41%
- 3Y*
- 15.66%
- 5Y*
- 8.87%
- 10Y*
- 8.98%
- ALL TIME*
- 4.27%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
NWHLX vs. GIIAX - 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% |
GIIAX Nationwide International Index Fund | 12.14% | 31.11% | 3.05% | 16.88% | -14.43% | 10.67% | 7.26% | 21.56% | -14.10% | 24.81% |
Correlation
The correlation between NWHLX and GIIAX is 0.98 - they have historically moved very closely together. At this level, their price movements offset little of one another.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.98 |
Correlation (3Y) Balances recent behavior with more history. | 0.98 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.98 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.97 |
Correlation (All Time) Calculated using the full available price history since Sep 17, 2013 | 0.97 |
The correlation between NWHLX and GIIAX has been stable across timeframes, ranging from 0.97 to 0.98 - a consistent structural relationship.
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Return for Risk
NWHLX vs. GIIAX — Risk / Return Rank
NWHLX
GIIAX
NWHLX vs. GIIAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nationwide Bailard International Equities Fund (NWHLX) and Nationwide International Index Fund (GIIAX). 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 | GIIAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.46 | ||
| Sortino ratioReturn per unit of downside risk | +0.56 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.28 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 2.82 | 2.13 | +0.69 |
| Martin ratioReturn relative to average drawdown | 10.53 | 7.84 | +2.69 |
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Drawdowns
NWHLX vs. GIIAX - Drawdown Comparison
The maximum NWHLX drawdown since its inception was -38.83%, smaller than the maximum GIIAX drawdown of -61.28%. Use the drawdown chart below to compare losses from any high point for NWHLX and GIIAX.
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Drawdown Indicators
| NWHLX | GIIAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.83% | -61.28% | +22.45% |
Max Drawdown (1Y)Largest decline over 1 year | -11.02% | -11.21% | +0.19% |
Max Drawdown (3Y)Largest decline over 3 years | -13.74% | -13.63% | -0.11% |
Max Drawdown (5Y)Largest decline over 5 years | -30.48% | -29.61% | -0.87% |
Max Drawdown (10Y)Largest decline over 10 years | -38.83% | -34.23% | -4.60% |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -7.86% | -15.97% | +8.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.94% | 3.04% | -0.10% |
Volatility
NWHLX vs. GIIAX - Volatility Comparison
Nationwide Bailard International Equities Fund (NWHLX) and Nationwide International Index Fund (GIIAX) have volatilities of 5.11% and 4.88%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NWHLX | GIIAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.11% | 4.88% | +0.23% |
Volatility (6M)Calculated over the trailing 6-month period | 13.61% | 13.38% | +0.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.55% | 15.51% | +0.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.72% | 15.87% | -0.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.03% | 16.12% | -0.09% |
NWHLX vs. GIIAX - Expense Ratio Comparison
NWHLX has a 0.93% expense ratio, which is higher than GIIAX's 0.71% expense ratio.
Dividends
NWHLX vs. GIIAX - Dividend Comparison
NWHLX's dividend yield for the trailing twelve months is around 7.21%, more than GIIAX's 6.54% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GIIAX Nationwide International Index Fund | 6.54% | 7.14% | 3.84% | 2.99% | 1.90% | 3.69% | 1.58% | 4.20% | 6.17% | 6.21% | 2.87% | 3.36% |
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
With a correlation of 0.98, NWHLX and GIIAX 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.
NWHLX has higher volatility (5.11%) compared to GIIAX (4.88%). In terms of maximum drawdown, NWHLX dropped -38.83% vs GIIAX's -61.28%.
NWHLX currently has the higher Sharpe Ratio (2.00 vs 1.54), 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.
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