NWXVX vs. VCMDX

Last updated Aug 5, 2026

NWXVX (Nationwide International Small Cap Fund) and VCMDX (Vanguard Commodity Strategy Fund Admiral Shares) are both mutual funds - NWXVX is a Foreign Small & Mid Cap Equities fund managed by Nationwide, while VCMDX is a Commodities fund actively managed by Vanguard. Over the past 5 years, NWXVX returned 6.45%/yr vs 10.46%/yr for VCMDX. Their 0.30 correlation means their historical movements had little consistent relationship. NWXVX charges 1.03%/yr vs 0.16%/yr for VCMDX.

Performance

NWXVX vs. VCMDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nationwide International Small Cap Fund (NWXVX) and Vanguard Commodity Strategy Fund Admiral Shares (VCMDX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NWXVX achieves a 13.34% return, which is significantly lower than VCMDX's 17.19% return.

NWXVX

• 1D: 1.14%
• 1M: 1.64%
• 6M: 5.23%
• YTD: 13.34%
• 1Y: 25.42%
• 3Y*: 18.42%
• 5Y*: 6.45%
• 10Y*: —
• ALL TIME*: 9.94%

VCMDX

• 1D: -0.55%
• 1M: 5.36%
• 6M: 9.36%
• YTD: 17.19%
• 1Y: 29.36%
• 3Y*: 11.88%
• 5Y*: 10.46%
• 10Y*: —
• ALL TIME*: 11.99%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
NWXVX Nationwide International Small Cap Fund	$0.00	$0.00	$0.00
VCMDX Vanguard Commodity Strategy Fund Admiral Shares	$0.00	$0.00	$0.00

NWXVX vs. VCMDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
NWXVX Nationwide International Small Cap Fund	13.34%	37.27%	0.83%	15.79%	-23.25%	12.04%	17.96%	10.13%
VCMDX Vanguard Commodity Strategy Fund Admiral Shares	17.19%	18.20%	5.27%	-7.45%	13.83%	34.82%	5.07%	2.74%

Correlation

The correlation between NWXVX and VCMDX is 0.01, 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.	0.01
Correlation (3Y) Balances recent behavior with more history.	0.18
Correlation (5Y) Shows whether the relationship held over a longer period.	0.26
Correlation (All Time) Calculated using the full available price history since Jun 26, 2019	0.30

Over the past year, the correlation between NWXVX and VCMDX has dropped to 0.01 - well below their long-term average of 0.30, suggesting their price drivers have been diverging.

Return for Risk

NWXVX vs. VCMDX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

NWXVX

NWXVX Risk / Return Rank: 56
NWXVX Sharpe Ratio Rank: 58
NWXVX Sortino Ratio Rank: 57
NWXVX Omega Ratio Rank: 54
NWXVX Calmar Ratio Rank: 55
NWXVX Martin Ratio Rank: 54

VCMDX

VCMDX Risk / Return Rank: 66
VCMDX Sharpe Ratio Rank: 80
VCMDX Sortino Ratio Rank: 71
VCMDX Omega Ratio Rank: 72
VCMDX Calmar Ratio Rank: 58
VCMDX Martin Ratio Rank: 48

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

NWXVX vs. VCMDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nationwide International Small Cap Fund (NWXVX) and Vanguard Commodity Strategy Fund Admiral Shares (VCMDX). 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.

	NWXVX	VCMDX	Difference
Sharpe ratio: Return per unit of total volatility	1.68	1.94	-0.27
Sortino ratio: Return per unit of downside risk	2.38	2.54	-0.16
Omega ratio: Gain probability vs. loss probability	1.30	1.34	-0.04
Calmar ratio: Return relative to maximum drawdown	2.24	2.21	+0.03
Martin ratio: Return relative to average drawdown	8.26	7.17	+1.08

NWXVX vs. VCMDX - Sharpe Ratio Comparison

The current NWXVX Sharpe Ratio is 1.68, which is comparable to the VCMDX Sharpe Ratio of 1.94. The chart below compares the historical Sharpe Ratios of NWXVX and VCMDX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

NWXVX vs. VCMDX - Drawdown Comparison

The maximum NWXVX drawdown since its inception was -39.61%, which is greater than VCMDX's maximum drawdown of -26.67%. Use the drawdown chart below to compare losses from any high point for NWXVX and VCMDX.

Drawdown Indicators

	NWXVX	VCMDX	Difference
Max Drawdown Largest peak-to-trough decline	-39.61%	-26.67%	-12.94%
Max Drawdown (1Y) Largest decline over 1 year	-12.24%	-13.39%	+1.15%
Max Drawdown (3Y) Largest decline over 3 years	-15.40%	-13.39%	-2.01%
Max Drawdown (5Y) Largest decline over 5 years	-38.69%	-25.45%	-13.24%
Current Drawdown Current decline from peak	0.00%	-7.89%	+7.89%
Average Drawdown Average peak-to-trough decline	-11.31%	-10.81%	-0.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.31%	4.11%	-0.80%

Volatility

NWXVX vs. VCMDX - Volatility Comparison

Nationwide International Small Cap Fund (NWXVX) has a higher volatility of 4.74% compared to Vanguard Commodity Strategy Fund Admiral Shares (VCMDX) at 4.09%. This indicates that NWXVX's price experiences larger fluctuations and is considered to be riskier than VCMDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NWXVX	VCMDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.74%	4.09%	+0.65%
Volatility (6M) Calculated over the trailing 6-month period	14.00%	11.95%	+2.05%
Volatility (1Y) Calculated over the trailing 1-year period	16.36%	15.25%	+1.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.12%	15.83%	+1.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.95%	15.36%	+1.59%

NWXVX vs. VCMDX - Expense Ratio Comparison

NWXVX has a 1.03% expense ratio, which is higher than VCMDX's 0.16% expense ratio.

Dividends

NWXVX vs. VCMDX - Dividend Comparison

NWXVX's dividend yield for the trailing twelve months is around 11.00%, less than VCMDX's 12.98% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
NWXVX Nationwide International Small Cap Fund	11.00%	12.01%	9.66%	2.37%	0.79%	16.81%	0.79%	2.74%	15.98%	10.41%
VCMDX Vanguard Commodity Strategy Fund Admiral Shares	12.98%	15.21%	2.19%	2.50%	14.21%	30.56%	0.50%	0.60%	0.00%	0.00%

Frequently Asked Questions

Can I hold both NWXVX and VCMDX in my portfolio?

NWXVX and VCMDX have a correlation of 0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NWXVX or VCMDX?

NWXVX has higher volatility (4.74%) compared to VCMDX (4.09%). In terms of maximum drawdown, NWXVX dropped -39.61% vs VCMDX's -26.67%.

Which has better risk-adjusted returns?

VCMDX currently has the higher Sharpe Ratio (1.94 vs 1.68), 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.