NWHLX vs. TIVFX

Last updated Aug 1, 2026

NWHLX (Nationwide Bailard International Equities Fund) and TIVFX (American Beacon Tocqueville International Value Fund) are both Foreign Large Cap Equities funds. Over the past 10 years, NWHLX returned 9.45%/yr vs 7.97%/yr for TIVFX. Their correlation of 0.85 means they have usually moved in the same direction. NWHLX charges 0.93%/yr vs 1.20%/yr for TIVFX.

Performance

NWHLX vs. TIVFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nationwide Bailard International Equities Fund (NWHLX) and American Beacon Tocqueville International Value Fund (TIVFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with NWHLX having a 16.76% return and TIVFX slightly higher at 17.03%. Over the past 10 years, NWHLX has outperformed TIVFX with an annualized return of 9.45%, while TIVFX has yielded a comparatively lower 7.97% annualized return.

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%

TIVFX

• 1D: 2.89%
• 1M: -11.33%
• 6M: 3.25%
• YTD: 17.03%
• 1Y: 32.90%
• 3Y*: 17.80%
• 5Y*: 8.19%
• 10Y*: 7.97%
• ALL TIME*: 6.27%

*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)
NWHLX Nationwide Bailard International Equities Fund	$0.00	$0.00	$0.00
TIVFX American Beacon Tocqueville International Value Fund	$0.00	$0.00	$0.00

NWHLX vs. TIVFX - 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%
TIVFX American Beacon Tocqueville International Value Fund	17.03%	36.15%	3.73%	15.43%	-20.57%	7.53%	12.61%	19.38%	-19.87%	24.18%

Correlation

The correlation between NWHLX and TIVFX is 0.71, 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.	0.71
Correlation (3Y) Balances recent behavior with more history.	0.74
Correlation (5Y) Shows whether the relationship held over a longer period.	0.82
Correlation (10Y) Provides a long-term view across more market conditions.	0.85
Correlation (All Time) Calculated using the full available price history since Sep 17, 2013	0.85

The correlation between NWHLX and TIVFX shifts across timeframes, from 0.71 (1 year) to 0.85 (10 years), reflecting how their relationship changes across market environments.

Return for Risk

NWHLX vs. TIVFX — 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

TIVFX

TIVFX Risk / Return Rank: 52
TIVFX Sharpe Ratio Rank: 60
TIVFX Sortino Ratio Rank: 51
TIVFX Omega Ratio Rank: 57
TIVFX Calmar Ratio Rank: 44
TIVFX Martin Ratio Rank: 49

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. TIVFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nationwide Bailard International Equities Fund (NWHLX) and American Beacon Tocqueville International Value Fund (TIVFX). 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	TIVFX	Difference
Sharpe ratio: Return per unit of total volatility	2.00	1.46	+0.54
Sortino ratio: Return per unit of downside risk	2.77	1.93	+0.84
Omega ratio: Gain probability vs. loss probability	1.37	1.26	+0.10
Calmar ratio: Return relative to maximum drawdown	2.82	1.71	+1.11
Martin ratio: Return relative to average drawdown	10.53	6.75	+3.78

NWHLX vs. TIVFX - Sharpe Ratio Comparison

The current NWHLX Sharpe Ratio is 2.00, which is higher than the TIVFX Sharpe Ratio of 1.46. The chart below compares the historical Sharpe Ratios of NWHLX and TIVFX, 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. TIVFX - Drawdown Comparison

The maximum NWHLX drawdown since its inception was -38.83%, smaller than the maximum TIVFX drawdown of -54.21%. Use the drawdown chart below to compare losses from any high point for NWHLX and TIVFX.

Drawdown Indicators

	NWHLX	TIVFX	Difference
Max Drawdown Largest peak-to-trough decline	-38.83%	-54.21%	+15.38%
Max Drawdown (1Y) Largest decline over 1 year	-11.02%	-19.03%	+8.01%
Max Drawdown (3Y) Largest decline over 3 years	-13.74%	-23.99%	+10.25%
Max Drawdown (5Y) Largest decline over 5 years	-30.48%	-36.31%	+5.83%
Max Drawdown (10Y) Largest decline over 10 years	-38.83%	-41.51%	+2.68%
Current Drawdown Current decline from peak	0.00%	-16.69%	+16.69%
Average Drawdown Average peak-to-trough decline	-7.86%	-13.35%	+5.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.94%	4.80%	-1.86%

Volatility

NWHLX vs. TIVFX - Volatility Comparison

The current volatility for Nationwide Bailard International Equities Fund (NWHLX) is 5.11%, while American Beacon Tocqueville International Value Fund (TIVFX) has a volatility of 8.59%. This indicates that NWHLX experiences smaller price fluctuations and is considered to be less risky than TIVFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NWHLX	TIVFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.11%	8.59%	-3.48%
Volatility (6M) Calculated over the trailing 6-month period	13.61%	19.43%	-5.82%
Volatility (1Y) Calculated over the trailing 1-year period	15.55%	22.33%	-6.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.72%	19.39%	-3.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.03%	17.84%	-1.81%

NWHLX vs. TIVFX - Expense Ratio Comparison

NWHLX has a 0.93% expense ratio, which is lower than TIVFX's 1.20% expense ratio.

Dividends

NWHLX vs. TIVFX - Dividend Comparison

NWHLX's dividend yield for the trailing twelve months is around 7.21%, less than TIVFX's 7.54% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
TIVFX American Beacon Tocqueville International Value Fund	7.54%	8.82%	10.23%	1.66%	1.39%	3.65%	0.34%	1.69%	1.37%	1.28%	1.57%	3.01%

Frequently Asked Questions

Can I hold both NWHLX and TIVFX in my portfolio?

NWHLX and TIVFX have a correlation of 0.71, 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 TIVFX?

TIVFX has higher volatility (8.59%) compared to NWHLX (5.11%). In terms of maximum drawdown, NWHLX dropped -38.83% vs TIVFX's -54.21%.

Which has better risk-adjusted returns?

NWHLX currently has the higher Sharpe Ratio (2.00 vs 1.46), 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.