NWXEX vs. DHEAX
NWXEX (Nationwide Strategic Income A) and DHEAX (Diamond Hill Short Duration Securitized Bond Fund) are both mutual funds - NWXEX is a Multisector Bonds fund actively managed by Nationwide, while DHEAX is a Short-Term Bond fund managed by Diamond Hill. Over the past 5 years, NWXEX returned 6.37%/yr vs 4.29%/yr for DHEAX. Their 0.11 correlation means their historical movements had little consistent relationship. NWXEX charges 0.99%/yr vs 0.83%/yr for DHEAX.
Performance
NWXEX vs. DHEAX - Performance Comparison
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Returns By Period
In the year-to-date period, NWXEX achieves a 2.50% return, which is significantly higher than DHEAX's 2.33% return.
NWXEX
- 1D
- 0.20%
- 1M
- -0.03%
- 6M
- 1.72%
- YTD
- 2.50%
- 1Y
- 5.28%
- 3Y*
- 7.60%
- 5Y*
- 6.37%
- 10Y*
- 6.27%
- ALL TIME*
- 6.46%
DHEAX
- 1D
- 0.03%
- 1M
- 0.33%
- 6M
- 1.88%
- YTD
- 2.33%
- 1Y
- 4.20%
- 3Y*
- 7.19%
- 5Y*
- 4.29%
- 10Y*
- —
- ALL TIME*
- 3.98%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
NWXEX vs. DHEAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NWXEX Nationwide Strategic Income A | 2.50% | 6.97% | 9.36% | 9.00% | 3.50% | 4.64% | 3.24% | 9.84% | -0.39% | 10.86% |
DHEAX Diamond Hill Short Duration Securitized Bond Fund | 2.33% | 5.70% | 9.15% | 8.38% | -3.57% | 2.42% | 2.87% | 4.44% | 2.88% | 3.97% |
Correlation
The correlation between NWXEX and DHEAX is 0.09, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.09 |
Correlation (3Y) Balances recent behavior with more history. | 0.27 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.17 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 2017 | 0.11 |
The correlation between NWXEX and DHEAX shifts across timeframes, from 0.09 (1 year) to 0.27 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
NWXEX vs. DHEAX — Risk / Return Rank
NWXEX
DHEAX
NWXEX vs. DHEAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nationwide Strategic Income A (NWXEX) and Diamond Hill Short Duration Securitized Bond Fund (DHEAX). 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.
| NWXEX | DHEAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.33 | ||
| Sortino ratioReturn per unit of downside risk | +0.82 | ||
| Omega ratioGain probability vs. loss probability | 2.27 | 2.26 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 12.54 | 9.06 | +3.49 |
| Martin ratioReturn relative to average drawdown | 47.70 | 38.81 | +8.89 |
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Drawdowns
NWXEX vs. DHEAX - Drawdown Comparison
The maximum NWXEX drawdown since its inception was -22.97%, which is greater than DHEAX's maximum drawdown of -12.34%. Use the drawdown chart below to compare losses from any high point for NWXEX and DHEAX.
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Drawdown Indicators
| NWXEX | DHEAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.97% | -12.34% | -10.63% |
Max Drawdown (1Y)Largest decline over 1 year | -0.43% | -0.50% | +0.07% |
Max Drawdown (3Y)Largest decline over 3 years | -1.89% | -0.50% | -1.39% |
Max Drawdown (5Y)Largest decline over 5 years | -5.60% | -5.06% | -0.54% |
Max Drawdown (10Y)Largest decline over 10 years | -22.97% | — | — |
Current DrawdownCurrent decline from peak | -0.03% | 0.00% | -0.03% |
Average DrawdownAverage peak-to-trough decline | -1.08% | -0.79% | -0.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.11% | 0.12% | -0.01% |
Volatility
NWXEX vs. DHEAX - Volatility Comparison
Nationwide Strategic Income A (NWXEX) has a higher volatility of 0.38% compared to Diamond Hill Short Duration Securitized Bond Fund (DHEAX) at 0.27%. This indicates that NWXEX's price experiences larger fluctuations and is considered to be riskier than DHEAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NWXEX | DHEAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.38% | 0.27% | +0.11% |
Volatility (6M)Calculated over the trailing 6-month period | 0.97% | 0.76% | +0.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.24% | 1.12% | +0.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.65% | 1.52% | +2.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.39% | 2.25% | +2.14% |
NWXEX vs. DHEAX - Expense Ratio Comparison
NWXEX has a 0.99% expense ratio, which is higher than DHEAX's 0.83% expense ratio.
Dividends
NWXEX vs. DHEAX - Dividend Comparison
NWXEX's dividend yield for the trailing twelve months is around 4.96%, less than DHEAX's 5.67% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DHEAX Diamond Hill Short Duration Securitized Bond Fund | 5.67% | 5.27% | 5.94% | 5.25% | 3.41% | 2.31% | 2.92% | 3.76% | 3.45% | 3.20% | 0.00% | 0.00% |
NWXEX Nationwide Strategic Income A | 4.96% | 4.93% | 4.73% | 4.33% | 16.14% | 3.99% | 4.70% | 3.63% | 4.30% | 8.40% | 7.21% | 0.43% |
Frequently Asked Questions
NWXEX and DHEAX have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NWXEX has higher volatility (0.38%) compared to DHEAX (0.27%). In terms of maximum drawdown, NWXEX dropped -22.97% vs DHEAX's -12.34%.
NWXEX currently has the higher Sharpe Ratio (4.36 vs 4.03), 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.
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