NWJJX vs. FGBCX

Last updated Jun 3, 2026

NWJJX (Nationwide Loomis Core Bond Fund) and FGBCX (Fidelity Advisor Investment Grade Bond Fund Class C) are both mutual funds - NWJJX is a Intermediate Core Bond fund managed by Nationwide, while FGBCX is a Total Bond Market fund managed by Fidelity. Over the past 10 years, NWJJX returned 1.62%/yr vs 1.05%/yr for FGBCX. Their correlation of 0.91 suggests significant overlap in exposure. NWJJX charges 0.73%/yr vs 1.53%/yr for FGBCX.

Performance

NWJJX vs. FGBCX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nationwide Loomis Core Bond Fund (NWJJX) and Fidelity Advisor Investment Grade Bond Fund Class C (FGBCX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NWJJX achieves a 0.35% return, which is significantly higher than FGBCX's -0.10% return. Over the past 10 years, NWJJX has outperformed FGBCX with an annualized return of 1.62%, while FGBCX has yielded a comparatively lower 1.05% annualized return.

NWJJX

• 1D: -0.11%
• 1M: 0.14%
• YTD: 0.35%
• 6M: 0.28%
• 1Y: 5.02%
• 3Y*: 4.02%
• 5Y*: -0.05%
• 10Y*: 1.62%

FGBCX

• 1D: -0.14%
• 1M: -0.04%
• YTD: -0.10%
• 6M: -0.24%
• 1Y: 4.01%
• 3Y*: 2.95%
• 5Y*: -0.91%
• 10Y*: 1.05%

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

NWJJX vs. FGBCX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NWJJX Nationwide Loomis Core Bond Fund	0.35%	6.71%	1.86%	5.28%	-13.82%	-1.55%	8.26%	9.58%	-0.67%	3.14%
FGBCX Fidelity Advisor Investment Grade Bond Fund Class C	-0.10%	6.08%	0.04%	5.09%	-14.63%	-1.98%	8.73%	8.49%	-1.43%	2.68%

Correlation

The correlation between NWJJX and FGBCX is 0.95 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.95
Correlation (3Y) Calculated over the trailing 3-year period	0.96
Correlation (5Y) Calculated over the trailing 5-year period	0.97
Correlation (10Y) Calculated over the trailing 10-year period	0.93
Correlation (All Time) Calculated using the full available price history since Sep 18, 2013	0.91

The correlation between NWJJX and FGBCX has been stable across timeframes, ranging from 0.91 to 0.97 - a consistent structural relationship.

Return for Risk

NWJJX vs. FGBCX — Risk / Return Rank

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

NWJJX

NWJJX Risk / Return Rank: 19
NWJJX Sharpe Ratio Rank: 18
NWJJX Sortino Ratio Rank: 18
NWJJX Omega Ratio Rank: 16
NWJJX Calmar Ratio Rank: 23
NWJJX Martin Ratio Rank: 20

FGBCX

FGBCX Risk / Return Rank: 13
FGBCX Sharpe Ratio Rank: 13
FGBCX Sortino Ratio Rank: 13
FGBCX Omega Ratio Rank: 12
FGBCX Calmar Ratio Rank: 14
FGBCX Martin Ratio Rank: 13

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.

NWJJX vs. FGBCX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nationwide Loomis Core Bond Fund (NWJJX) and Fidelity Advisor Investment Grade Bond Fund Class C (FGBCX). 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.

	NWJJX	FGBCX	Difference
Sharpe ratio Return per unit of total volatility	1.20	0.97	+0.23
Sortino ratio Return per unit of downside risk	1.80	1.47	+0.33
Omega ratio Gain probability vs. loss probability	1.21	1.18	+0.03
Calmar ratio Return relative to maximum drawdown	1.79	1.29	+0.50
Martin ratio Return relative to average drawdown	5.35	3.81	+1.53
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NWJJX vs. FGBCX - Sharpe Ratio Comparison

The current NWJJX Sharpe Ratio is 1.20, which is comparable to the FGBCX Sharpe Ratio of 0.97. The chart below compares the historical Sharpe Ratios of NWJJX and FGBCX, 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

	NWJJX	FGBCX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.20	0.97	+0.23
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.01	-0.15	+0.15
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.34	0.21	+0.12
Sharpe Ratio (All Time) Calculated using the full available price history	0.47	0.36	+0.11

Drawdowns

NWJJX vs. FGBCX - Drawdown Comparison

The maximum NWJJX drawdown since its inception was -18.99%, roughly equal to the maximum FGBCX drawdown of -19.98%. Use the drawdown chart below to compare losses from any high point for NWJJX and FGBCX.

Drawdown Indicators

	NWJJX	FGBCX	Difference
Max Drawdown Largest peak-to-trough decline	-18.99%	-19.98%	+0.99%
Max Drawdown (1Y) Largest decline over 1 year	-2.94%	-3.19%	+0.25%
Max Drawdown (3Y) Largest decline over 3 years	-5.87%	-6.34%	+0.47%
Max Drawdown (5Y) Largest decline over 5 years	-18.78%	-19.42%	+0.64%
Max Drawdown (10Y) Largest decline over 10 years	-18.99%	-19.98%	+0.99%
Current Drawdown Current decline from peak	-2.74%	-7.07%	+4.33%
Average Drawdown Average peak-to-trough decline	-4.10%	-5.27%	+1.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.99%	1.08%	-0.09%

Volatility

NWJJX vs. FGBCX - Volatility Comparison

Nationwide Loomis Core Bond Fund (NWJJX) and Fidelity Advisor Investment Grade Bond Fund Class C (FGBCX) have volatilities of 1.34% and 1.31%, 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.

Volatility by Period

	NWJJX	FGBCX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.34%	1.31%	+0.03%
Volatility (6M) Calculated over the trailing 6-month period	2.83%	2.65%	+0.18%
Volatility (1Y) Calculated over the trailing 1-year period	4.01%	3.84%	+0.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.85%	5.93%	-0.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.86%	4.95%	-0.09%

NWJJX vs. FGBCX - Expense Ratio Comparison

NWJJX has a 0.73% expense ratio, which is lower than FGBCX's 1.53% expense ratio.

Dividends

NWJJX vs. FGBCX - Dividend Comparison

NWJJX's dividend yield for the trailing twelve months is around 4.19%, more than FGBCX's 2.84% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FGBCX Fidelity Advisor Investment Grade Bond Fund Class C	2.84%	2.82%	2.44%	2.27%	1.10%	0.47%	3.73%	1.69%	1.76%	0.99%	1.54%	1.64%
NWJJX Nationwide Loomis Core Bond Fund	4.19%	4.14%	4.10%	3.09%	1.89%	2.18%	5.17%	3.30%	2.60%	2.16%	3.12%	2.42%

Frequently Asked Questions

Can I hold both NWJJX and FGBCX in my portfolio?

With a correlation of 0.95, NWJJX and FGBCX 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, NWJJX or FGBCX?

NWJJX has higher volatility (1.34%) compared to FGBCX (1.31%). In terms of maximum drawdown, NWJJX dropped -18.99% vs FGBCX's -19.98%.

Which has better risk-adjusted returns?

NWJJX currently has the higher Sharpe Ratio (1.20 vs 0.97), 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.