NWISX vs. GRISX

Last updated Jun 5, 2026

NWISX (Nationwide Destination 2030 Fund) and GRISX (Nationwide S&P 500 Index Fund) are both mutual funds - NWISX is a Target Retirement Date fund managed by Nationwide, while GRISX is a S&P 500 fund tracking the S&P 500 Index. Over the past 10 years, NWISX returned 7.45%/yr vs 15.19%/yr for GRISX. Their correlation of 0.94 suggests significant overlap in exposure. NWISX charges 0.38%/yr vs 0.44%/yr for GRISX.

Performance

NWISX vs. GRISX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nationwide Destination 2030 Fund (NWISX) and Nationwide S&P 500 Index Fund (GRISX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NWISX achieves a 6.24% return, which is significantly lower than GRISX's 10.73% return. Over the past 10 years, NWISX has underperformed GRISX with an annualized return of 7.45%, while GRISX has yielded a comparatively higher 15.19% annualized return.

NWISX

• 1D: -0.56%
• 1M: 1.95%
• YTD: 6.24%
• 6M: 6.67%
• 1Y: 16.36%
• 3Y*: 12.67%
• 5Y*: 5.57%
• 10Y*: 7.45%

GRISX

• 1D: -0.73%
• 1M: 4.17%
• YTD: 10.73%
• 6M: 10.63%
• 1Y: 27.62%
• 3Y*: 21.79%
• 5Y*: 13.36%
• 10Y*: 15.19%

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

NWISX vs. GRISX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NWISX Nationwide Destination 2030 Fund	6.24%	14.63%	8.73%	15.11%	-16.85%	11.16%	12.13%	17.47%	-7.35%	14.17%
GRISX Nationwide S&P 500 Index Fund	10.73%	17.41%	24.13%	25.55%	-18.49%	28.32%	17.92%	30.94%	-3.84%	21.35%

Correlation

The correlation between NWISX and GRISX is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.91
Correlation (3Y) Calculated over the trailing 3-year period	0.89
Correlation (5Y) Calculated over the trailing 5-year period	0.91
Correlation (10Y) Calculated over the trailing 10-year period	0.92
Correlation (All Time) Calculated using the full available price history since Aug 31, 2007	0.94

The correlation between NWISX and GRISX has been stable across timeframes, ranging from 0.89 to 0.94 - a consistent structural relationship.

Return for Risk

NWISX vs. GRISX — Risk / Return Rank

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

NWISX

NWISX Risk / Return Rank: 61
NWISX Sharpe Ratio Rank: 61
NWISX Sortino Ratio Rank: 63
NWISX Omega Ratio Rank: 60
NWISX Calmar Ratio Rank: 55
NWISX Martin Ratio Rank: 66

GRISX

GRISX Risk / Return Rank: 65
GRISX Sharpe Ratio Rank: 63
GRISX Sortino Ratio Rank: 58
GRISX Omega Ratio Rank: 59
GRISX Calmar Ratio Rank: 66
GRISX Martin Ratio Rank: 78

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. GRISX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nationwide Destination 2030 Fund (NWISX) and Nationwide S&P 500 Index Fund (GRISX). 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	GRISX	Difference
Sharpe ratio: Return per unit of total volatility	2.24	2.33	-0.09
Sortino ratio: Return per unit of downside risk	3.24	3.20	+0.05
Omega ratio: Gain probability vs. loss probability	1.42	1.42	-0.01
Calmar ratio: Return relative to maximum drawdown	2.76	3.10	-0.34
Martin ratio: Return relative to average drawdown	12.54	14.46	-1.92
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. GRISX - Sharpe Ratio Comparison

The current NWISX Sharpe Ratio is 2.24, which is comparable to the GRISX Sharpe Ratio of 2.33. The chart below compares the historical Sharpe Ratios of NWISX and GRISX, 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	GRISX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.24	2.33	-0.09
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.49	0.79	-0.30
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.63	0.84	-0.21
Sharpe Ratio (All Time) Calculated using the full available price history	0.39	0.43	-0.05

Drawdowns

NWISX vs. GRISX - Drawdown Comparison

The maximum NWISX drawdown since its inception was -49.97%, smaller than the maximum GRISX drawdown of -55.53%. Use the drawdown chart below to compare losses from any high point for NWISX and GRISX.

Drawdown Indicators

	NWISX	GRISX	Difference
Max Drawdown Largest peak-to-trough decline	-49.97%	-55.53%	+5.56%
Max Drawdown (1Y) Largest decline over 1 year	-6.12%	-8.95%	+2.83%
Max Drawdown (3Y) Largest decline over 3 years	-8.79%	-18.78%	+9.99%
Max Drawdown (5Y) Largest decline over 5 years	-28.31%	-24.75%	-3.56%
Max Drawdown (10Y) Largest decline over 10 years	-28.31%	-33.85%	+5.54%
Current Drawdown Current decline from peak	-0.56%	-0.73%	+0.17%
Average Drawdown Average peak-to-trough decline	-7.93%	-10.86%	+2.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.34%	1.91%	-0.57%

Volatility

NWISX vs. GRISX - Volatility Comparison

The current volatility for Nationwide Destination 2030 Fund (NWISX) is 2.50%, while Nationwide S&P 500 Index Fund (GRISX) has a volatility of 2.93%. This indicates that NWISX experiences smaller price fluctuations and is considered to be less risky than GRISX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NWISX	GRISX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.50%	2.93%	-0.43%
Volatility (6M) Calculated over the trailing 6-month period	6.16%	9.00%	-2.84%
Volatility (1Y) Calculated over the trailing 1-year period	7.52%	11.90%	-4.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.41%	16.94%	-5.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.89%	18.08%	-6.19%

NWISX vs. GRISX - Expense Ratio Comparison

NWISX has a 0.38% expense ratio, which is lower than GRISX's 0.44% expense ratio.

Dividends

NWISX vs. GRISX - Dividend Comparison

NWISX's dividend yield for the trailing twelve months is around 7.11%, more than GRISX's 4.62% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GRISX Nationwide S&P 500 Index Fund	4.62%	5.08%	2.62%	0.79%	1.67%	4.96%	1.27%	6.26%	18.54%	6.66%	7.42%	11.98%
NWISX Nationwide Destination 2030 Fund	7.11%	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 GRISX in my portfolio?

With a correlation of 0.91, NWISX and GRISX 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.

Which is riskier, NWISX or GRISX?

GRISX has higher volatility (2.93%) compared to NWISX (2.50%). In terms of maximum drawdown, NWISX dropped -49.97% vs GRISX's -55.53%.

Which has better risk-adjusted returns?

GRISX currently has the higher Sharpe Ratio (2.33 vs 2.24), 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.