Nationwide Funds^®

Nationwide Bond Index Fund

Investment objective

The Fund seeks to match the performance of the Barclays Capital U.S. Aggregate Bond Index (BARCAP Index) as closely as possible before the deduction of Fund expenses.

Investment strategy

The Fund employs a "passive" management, or indexing, approach, designed to match approximately the performance of the BARCAP Index before the deduction of Fund expenses. Under normal circumstances, the Fund invests at least 80% of the value of its net assets in a statistically selected sampling of bonds and other fixed-income securities that are included in or correlated with the BARCAP Index.

Portfolio management

BlackRock Investment Management, LLC, Subadviser

Scott Radell and Karen Uyehara are responsible for the day-to-day management of the Fund, including selection of the Fund's investments.

Nationwide Fund Distributors LLC is not an affiliate of BlackRock Investment Management, LLC.

Fund documents

You can find more detailed information about the Fund in the summary prospectus, prospectus and other fund documents. You should carefully read the documents before investing.

Holdings

Principal Risks

The Fund may be subject to interest rate risk. Generally, when interest rates go up, the value of fixed-income securities goes down.

The Fund may be subject to extension risk. When interest rates rise, certain bond obligations will be paid off by the issuer more slowly than anticipated. This can cause the market value of the security to fall because the market may view its interest rate as too low for a longer-term investment.

The Fund may be subject to prepayment, call and redemption risks. Certain bonds will be paid off by the issuer more quickly than anticipated. If this happens, the Fund may be required to invest the proceeds in securities with lower yields. The Fund may be subject to liquidity risk, which is the risk that a security cannot be sold, or cannot be sold quickly, at an acceptable price.

The Fund may be subject to credit risk. A bond issuer may be unable to pay the interest or principal when due.

The Fund is subject to index fund risk. The Fund does not use defensive strategies or attempt to reduce its exposure to poorly performing securities. In addition, correlation between Fund performance and index performance may be negatively affected by Fund expenses, index composition changes, and the timing of Fund share purchases and redemptions.

Market Index

Barclays Capital (BARCAP) U.S. Aggregate Bond Index: An unmanaged, market value-weighted index of investment-grade, fixed-rate debt issues (including government, corporate, asset-backed, and mortgage-backed securities with maturities of one year or more) that is generally representative of the bond market as a whole.