NWISX vs. GBIAX

Last updated Jun 4, 2026

NWISX (Nationwide Destination 2030 Fund) and GBIAX (Nationwide Bond Index Fund) are both mutual funds - NWISX is a Target Retirement Date fund managed by Nationwide, while GBIAX is a Intermediate Core Bond fund managed by Nationwide. Over the past 10 years, NWISX returned 7.51%/yr vs 0.88%/yr for GBIAX. At a correlation of -0.08, they often move in opposite directions. NWISX charges 0.38%/yr vs 0.64%/yr for GBIAX.

Performance

NWISX vs. GBIAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nationwide Destination 2030 Fund (NWISX) and Nationwide Bond Index Fund (GBIAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NWISX achieves a 6.83% return, which is significantly higher than GBIAX's 0.24% return. Over the past 10 years, NWISX has outperformed GBIAX with an annualized return of 7.51%, while GBIAX has yielded a comparatively lower 0.88% annualized return.

NWISX

• 1D: 0.11%
• 1M: 3.23%
• YTD: 6.83%
• 6M: 7.39%
• 1Y: 17.44%
• 3Y*: 12.88%
• 5Y*: 5.84%
• 10Y*: 7.51%

GBIAX

• 1D: 0.10%
• 1M: 0.50%
• YTD: 0.24%
• 6M: 0.10%
• 1Y: 4.84%
• 3Y*: 3.37%
• 5Y*: -0.54%
• 10Y*: 0.88%

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

NWISX vs. GBIAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NWISX Nationwide Destination 2030 Fund	6.83%	14.63%	8.73%	15.11%	-16.85%	11.16%	12.13%	17.47%	-7.35%	14.17%
GBIAX Nationwide Bond Index Fund	0.24%	6.54%	0.44%	5.03%	-14.06%	-2.38%	6.60%	8.08%	-0.74%	2.89%

Correlation

The correlation between NWISX and GBIAX is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.45
Correlation (3Y) Calculated over the trailing 3-year period	0.47
Correlation (5Y) Calculated over the trailing 5-year period	0.36
Correlation (10Y) Calculated over the trailing 10-year period	0.14
Correlation (All Time) Calculated using the full available price history since Aug 31, 2007	-0.08

The correlation between NWISX and GBIAX shifts across timeframes, from -0.08 (all time) to 0.47 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

NWISX vs. GBIAX — Risk / Return Rank

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

NWISX

NWISX Risk / Return Rank: 63
NWISX Sharpe Ratio Rank: 64
NWISX Sortino Ratio Rank: 66
NWISX Omega Ratio Rank: 63
NWISX Calmar Ratio Rank: 57
NWISX Martin Ratio Rank: 68

GBIAX

GBIAX Risk / Return Rank: 18
GBIAX Sharpe Ratio Rank: 19
GBIAX Sortino Ratio Rank: 19
GBIAX Omega Ratio Rank: 18
GBIAX Calmar Ratio Rank: 19
GBIAX Martin Ratio Rank: 18

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.

NWISX vs. GBIAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nationwide Destination 2030 Fund (NWISX) and Nationwide Bond Index Fund (GBIAX). 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.

	NWISX	GBIAX	Difference
Sharpe ratio Return per unit of total volatility	2.36	1.24	+1.12
Sortino ratio Return per unit of downside risk	3.41	1.84	+1.56
Omega ratio Gain probability vs. loss probability	1.44	1.22	+0.22
Calmar ratio Return relative to maximum drawdown	2.89	1.62	+1.27
Martin ratio Return relative to average drawdown	13.15	4.80	+8.35
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NWISX vs. GBIAX - Sharpe Ratio Comparison

The current NWISX Sharpe Ratio is 2.36, which is higher than the GBIAX Sharpe Ratio of 1.24. The chart below compares the historical Sharpe Ratios of NWISX and GBIAX, 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

	NWISX	GBIAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.36	1.24	+1.12
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.51	-0.09	+0.61
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.63	0.18	+0.45
Sharpe Ratio (All Time) Calculated using the full available price history	0.39	0.73	-0.34

Drawdowns

NWISX vs. GBIAX - Drawdown Comparison

The maximum NWISX drawdown since its inception was -49.97%, which is greater than GBIAX's maximum drawdown of -20.26%. Use the drawdown chart below to compare losses from any high point for NWISX and GBIAX.

Drawdown Indicators

	NWISX	GBIAX	Difference
Max Drawdown Largest peak-to-trough decline	-49.97%	-20.26%	-29.71%
Max Drawdown (1Y) Largest decline over 1 year	-6.12%	-3.00%	-3.12%
Max Drawdown (3Y) Largest decline over 3 years	-8.79%	-6.30%	-2.49%
Max Drawdown (5Y) Largest decline over 5 years	-28.31%	-19.07%	-9.24%
Max Drawdown (10Y) Largest decline over 10 years	-28.31%	-20.26%	-8.05%
Current Drawdown Current decline from peak	0.00%	-6.18%	+6.18%
Average Drawdown Average peak-to-trough decline	-7.94%	-3.04%	-4.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.34%	1.01%	+0.33%

Volatility

NWISX vs. GBIAX - Volatility Comparison

Nationwide Destination 2030 Fund (NWISX) has a higher volatility of 2.48% compared to Nationwide Bond Index Fund (GBIAX) at 1.30%. This indicates that NWISX's price experiences larger fluctuations and is considered to be riskier than GBIAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NWISX	GBIAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.48%	1.30%	+1.18%
Volatility (6M) Calculated over the trailing 6-month period	6.14%	2.77%	+3.37%
Volatility (1Y) Calculated over the trailing 1-year period	7.49%	3.93%	+3.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.41%	6.00%	+5.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.89%	4.95%	+6.94%

NWISX vs. GBIAX - Expense Ratio Comparison

NWISX has a 0.38% expense ratio, which is lower than GBIAX's 0.64% expense ratio.

Dividends

NWISX vs. GBIAX - Dividend Comparison

NWISX's dividend yield for the trailing twelve months is around 7.07%, more than GBIAX's 3.28% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GBIAX Nationwide Bond Index Fund	3.28%	3.18%	3.07%	2.57%	1.59%	3.02%	1.79%	2.27%	2.29%	1.93%	2.15%	2.43%
NWISX Nationwide Destination 2030 Fund	7.07%	7.48%	13.04%	7.29%	3.01%	9.66%	5.40%	6.21%	11.67%	7.96%	7.01%	5.09%

Frequently Asked Questions

Can I hold both NWISX and GBIAX in my portfolio?

NWISX and GBIAX have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NWISX or GBIAX?

NWISX has higher volatility (2.48%) compared to GBIAX (1.30%). In terms of maximum drawdown, NWISX dropped -49.97% vs GBIAX's -20.26%.

Which has better risk-adjusted returns?

NWISX currently has the higher Sharpe Ratio (2.36 vs 1.24), 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.