NWXVX vs. VFSNX

Last updated Jun 25, 2026

NWXVX (Nationwide International Small Cap Fund) and VFSNX (Vanguard FTSE All-World ex-US Small-Cap Index Fund Institutional Shares) are both Foreign Small & Mid Cap Equities funds. Over the past 5 years, NWXVX returned 5.78%/yr vs 5.50%/yr for VFSNX. Their correlation of 0.94 suggests significant overlap in exposure. NWXVX charges 1.03%/yr vs 0.11%/yr for VFSNX.

Performance

NWXVX vs. VFSNX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nationwide International Small Cap Fund (NWXVX) and Vanguard FTSE All-World ex-US Small-Cap Index Fund Institutional Shares (VFSNX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NWXVX achieves a 8.78% return, which is significantly higher than VFSNX's 7.53% return.

NWXVX

• 1D: -2.85%
• 1M: -2.14%
• YTD: 8.78%
• 6M: 8.29%
• 1Y: 23.13%
• 3Y*: 18.03%
• 5Y*: 5.78%
• 10Y*: —

VFSNX

• 1D: -2.67%
• 1M: -3.17%
• YTD: 7.53%
• 6M: 7.39%
• 1Y: 20.77%
• 3Y*: 15.97%
• 5Y*: 5.50%
• 10Y*: 8.41%

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

NWXVX vs. VFSNX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NWXVX Nationwide International Small Cap Fund	8.78%	37.27%	0.83%	15.79%	-23.25%	12.04%	17.96%	28.10%	-19.40%	30.27%
VFSNX Vanguard FTSE All-World ex-US Small-Cap Index Fund Institutional Shares	7.53%	29.97%	2.63%	15.18%	-21.26%	12.74%	11.92%	21.72%	-18.46%	30.30%

Correlation

The correlation between NWXVX and VFSNX is 0.93, 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	0.93
Correlation (3Y) Calculated over the trailing 3-year period	0.93
Correlation (5Y) Calculated over the trailing 5-year period	0.95
Correlation (All Time) Calculated using the full available price history since Jan 3, 2017	0.94

The correlation between NWXVX and VFSNX has been stable across timeframes, ranging from 0.93 to 0.95 - a consistent structural relationship.

Return for Risk

NWXVX vs. VFSNX — Risk / Return Rank

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

NWXVX

NWXVX Risk / Return Rank: 38
NWXVX Sharpe Ratio Rank: 38
NWXVX Sortino Ratio Rank: 37
NWXVX Omega Ratio Rank: 38
NWXVX Calmar Ratio Rank: 36
NWXVX Martin Ratio Rank: 39

VFSNX

VFSNX Risk / Return Rank: 36
VFSNX Sharpe Ratio Rank: 38
VFSNX Sortino Ratio Rank: 35
VFSNX Omega Ratio Rank: 39
VFSNX Calmar Ratio Rank: 34
VFSNX Martin Ratio Rank: 36

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.

NWXVX vs. VFSNX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nationwide International Small Cap Fund (NWXVX) and Vanguard FTSE All-World ex-US Small-Cap Index Fund Institutional Shares (VFSNX). 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	VFSNX	Difference
Sharpe ratio: Return per unit of total volatility	1.54	1.57	-0.03
Sortino ratio: Return per unit of downside risk	2.21	2.17	+0.03
Omega ratio: Gain probability vs. loss probability	1.28	1.29	-0.01
Calmar ratio: Return relative to maximum drawdown	2.02	1.96	+0.06
Martin ratio: Return relative to average drawdown	7.58	7.26	+0.32

NWXVX vs. VFSNX - Sharpe Ratio Comparison

The current NWXVX Sharpe Ratio is 1.54, which is comparable to the VFSNX Sharpe Ratio of 1.57. The chart below compares the historical Sharpe Ratios of NWXVX and VFSNX, 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. VFSNX - Drawdown Comparison

The maximum NWXVX drawdown since its inception was -39.61%, smaller than the maximum VFSNX drawdown of -43.65%. Use the drawdown chart below to compare losses from any high point for NWXVX and VFSNX.

Drawdown Indicators

	NWXVX	VFSNX	Difference
Max Drawdown Largest peak-to-trough decline	-39.61%	-43.65%	+4.04%
Max Drawdown (1Y) Largest decline over 1 year	-12.24%	-11.47%	-0.77%
Max Drawdown (3Y) Largest decline over 3 years	-15.40%	-14.70%	-0.70%
Max Drawdown (5Y) Largest decline over 5 years	-38.69%	-33.75%	-4.94%
Max Drawdown (10Y) Largest decline over 10 years	—	-43.65%	—
Current Drawdown Current decline from peak	-3.95%	-4.84%	+0.89%
Average Drawdown Average peak-to-trough decline	-11.42%	-9.46%	-1.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.26%	3.08%	+0.18%

Volatility

NWXVX vs. VFSNX - Volatility Comparison

Nationwide International Small Cap Fund (NWXVX) has a higher volatility of 6.39% compared to Vanguard FTSE All-World ex-US Small-Cap Index Fund Institutional Shares (VFSNX) at 6.00%. This indicates that NWXVX's price experiences larger fluctuations and is considered to be riskier than VFSNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NWXVX	VFSNX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.39%	6.00%	+0.39%
Volatility (6M) Calculated over the trailing 6-month period	13.67%	12.40%	+1.27%
Volatility (1Y) Calculated over the trailing 1-year period	16.04%	14.28%	+1.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.09%	15.19%	+1.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.97%	15.66%	+1.31%

NWXVX vs. VFSNX - Expense Ratio Comparison

NWXVX has a 1.03% expense ratio, which is higher than VFSNX's 0.11% expense ratio.

Dividends

NWXVX vs. VFSNX - Dividend Comparison

NWXVX's dividend yield for the trailing twelve months is around 11.46%, more than VFSNX's 3.23% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NWXVX Nationwide International Small Cap Fund	11.46%	12.01%	9.66%	2.37%	0.79%	16.81%	0.79%	2.74%	15.98%	10.41%	0.00%	0.00%
VFSNX Vanguard FTSE All-World ex-US Small-Cap Index Fund Institutional Shares	3.23%	3.36%	3.41%	3.11%	2.26%	2.70%	1.90%	3.25%	2.81%	2.85%	2.93%	2.69%

Frequently Asked Questions

Can I hold both NWXVX and VFSNX in my portfolio?

With a correlation of 0.93, NWXVX and VFSNX 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, NWXVX or VFSNX?

NWXVX has higher volatility (6.39%) compared to VFSNX (6.00%). In terms of maximum drawdown, NWXVX dropped -39.61% vs VFSNX's -43.65%.

Which has better risk-adjusted returns?

VFSNX currently has the higher Sharpe Ratio (1.57 vs 1.54), 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.