NWHQX vs. NWHFX

Last updated Jun 4, 2026

NWHQX (Nationwide Bailard Technology and Science Fund) and NWHFX (Nationwide Bailard Cognitive Value Fund) are both mutual funds - NWHQX is a Technology Equities fund managed by Nationwide, while NWHFX is a Small Cap Value Equities fund managed by Nationwide. Over the past 10 years, NWHQX returned 21.60%/yr vs 10.65%/yr for NWHFX. A 0.63 correlation means they provide meaningful diversification when combined. NWHQX charges 0.92%/yr vs 1.00%/yr for NWHFX.

Performance

NWHQX vs. NWHFX - Performance Comparison

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

Returns By Period

In the year-to-date period, NWHQX achieves a 25.03% return, which is significantly higher than NWHFX's 18.47% return. Over the past 10 years, NWHQX has outperformed NWHFX with an annualized return of 21.60%, while NWHFX has yielded a comparatively lower 10.65% annualized return.

NWHQX

• 1D: 1.14%
• 1M: 19.26%
• YTD: 25.03%
• 6M: 25.66%
• 1Y: 43.21%
• 3Y*: 31.35%
• 5Y*: 16.87%
• 10Y*: 21.60%

NWHFX

• 1D: 0.90%
• 1M: 3.29%
• YTD: 18.47%
• 6M: 18.23%
• 1Y: 37.16%
• 3Y*: 19.45%
• 5Y*: 8.53%
• 10Y*: 10.65%

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

NWHQX vs. NWHFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NWHQX Nationwide Bailard Technology and Science Fund	25.03%	18.58%	26.23%	63.66%	-37.23%	19.21%	50.97%	38.91%	-3.16%	38.22%
NWHFX Nationwide Bailard Cognitive Value Fund	18.47%	9.95%	10.23%	15.78%	-12.91%	36.15%	8.82%	21.18%	-16.17%	4.04%

Correlation

The correlation between NWHQX and NWHFX is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.49
Correlation (3Y) Calculated over the trailing 3-year period	0.52
Correlation (5Y) Calculated over the trailing 5-year period	0.61
Correlation (10Y) Calculated over the trailing 10-year period	0.60
Correlation (All Time) Calculated using the full available price history since Sep 18, 2013	0.63

The correlation between NWHQX and NWHFX shifts across timeframes, from 0.49 (1 year) to 0.63 (all time), reflecting how their relationship changes across market environments.

Return for Risk

NWHQX vs. NWHFX — Risk / Return Rank

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

NWHQX

NWHQX Risk / Return Rank: 38
NWHQX Sharpe Ratio Rank: 51
NWHQX Sortino Ratio Rank: 40
NWHQX Omega Ratio Rank: 42
NWHQX Calmar Ratio Rank: 31
NWHQX Martin Ratio Rank: 26

NWHFX

NWHFX Risk / Return Rank: 71
NWHFX Sharpe Ratio Rank: 63
NWHFX Sortino Ratio Rank: 65
NWHFX Omega Ratio Rank: 53
NWHFX Calmar Ratio Rank: 89
NWHFX Martin Ratio Rank: 85

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.

NWHQX vs. NWHFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nationwide Bailard Technology and Science Fund (NWHQX) and Nationwide Bailard Cognitive Value Fund (NWHFX). 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.

	NWHQX	NWHFX	Difference
Sharpe ratio: Return per unit of total volatility	2.09	2.35	-0.26
Sortino ratio: Return per unit of downside risk	2.66	3.38	-0.73
Omega ratio: Gain probability vs. loss probability	1.35	1.41	-0.06
Calmar ratio: Return relative to maximum drawdown	2.09	4.60	-2.51
Martin ratio: Return relative to average drawdown	6.26	16.12	-9.86
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NWHQX vs. NWHFX - Sharpe Ratio Comparison

The current NWHQX Sharpe Ratio is 2.09, which is comparable to the NWHFX Sharpe Ratio of 2.35. The chart below compares the historical Sharpe Ratios of NWHQX and NWHFX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	NWHQX	NWHFX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.09	2.35	-0.26
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.64	0.42	+0.23
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.86	0.47	+0.39
Sharpe Ratio (All Time) Calculated using the full available price history	0.83	0.45	+0.38

Drawdowns

NWHQX vs. NWHFX - Drawdown Comparison

The maximum NWHQX drawdown since its inception was -42.61%, smaller than the maximum NWHFX drawdown of -47.51%. Use the drawdown chart below to compare losses from any high point for NWHQX and NWHFX.

Drawdown Indicators

	NWHQX	NWHFX	Difference
Max Drawdown Largest peak-to-trough decline	-42.61%	-47.51%	+4.90%
Max Drawdown (1Y) Largest decline over 1 year	-21.34%	-8.50%	-12.84%
Max Drawdown (3Y) Largest decline over 3 years	-26.48%	-24.68%	-1.80%
Max Drawdown (5Y) Largest decline over 5 years	-42.61%	-24.68%	-17.93%
Max Drawdown (10Y) Largest decline over 10 years	-42.61%	-47.51%	+4.90%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-7.11%	-7.35%	+0.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.11%	2.42%	+4.69%

Volatility

NWHQX vs. NWHFX - Volatility Comparison

Nationwide Bailard Technology and Science Fund (NWHQX) has a higher volatility of 5.59% compared to Nationwide Bailard Cognitive Value Fund (NWHFX) at 4.49%. This indicates that NWHQX's price experiences larger fluctuations and is considered to be riskier than NWHFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NWHQX	NWHFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.59%	4.49%	+1.10%
Volatility (6M) Calculated over the trailing 6-month period	16.94%	11.38%	+5.56%
Volatility (1Y) Calculated over the trailing 1-year period	21.40%	16.64%	+4.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.37%	20.56%	+5.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.21%	22.79%	+2.42%

NWHQX vs. NWHFX - Expense Ratio Comparison

NWHQX has a 0.92% expense ratio, which is lower than NWHFX's 1.00% expense ratio.

Dividends

NWHQX vs. NWHFX - Dividend Comparison

NWHQX's dividend yield for the trailing twelve months is around 9.36%, less than NWHFX's 9.78% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NWHFX Nationwide Bailard Cognitive Value Fund	9.78%	11.48%	13.85%	1.38%	3.31%	4.98%	0.83%	0.65%	15.39%	11.63%	0.62%	1.21%
NWHQX Nationwide Bailard Technology and Science Fund	9.36%	11.71%	12.90%	6.49%	11.34%	17.51%	11.54%	7.38%	17.44%	10.29%	7.72%	8.63%

Frequently Asked Questions

Can I hold both NWHQX and NWHFX in my portfolio?

NWHQX and NWHFX have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NWHQX or NWHFX?

NWHQX has higher volatility (5.59%) compared to NWHFX (4.49%). In terms of maximum drawdown, NWHQX dropped -42.61% vs NWHFX's -47.51%.

Which has better risk-adjusted returns?

NWHFX currently has the higher Sharpe Ratio (2.35 vs 2.09), 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.