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    • Overview

    Objective

    The Fund seeks to provide a high level of current income.

    Attractive income: Offers investors the potential to create a meaningful income stream from their fixed-income portfolios.

    Key features

    • Eye on diversification: Flexibility to allocate across fixed income sectors to help decrease correlations and portfolio volatility
    • Flexibility to adapt to changing markets: An active fixed income strategy that can adapt to changing markets with no benchmark constraints
    • Complement or core: Seeks to provide a meaningful income stream that may complement a core fixed-income portfolio or stand alone

    Fund documentation

    Additional resources

    Visit the site where the prospectus, reports, and other regulatory documents are located.

    Strategy overview

    The Nationwide Strategic Income Fund seeks to provide a high level of current income while maximizing total return. The Fund has the ability to allocate across fixed-income sectors, which helps decrease correlations and portfolio volatility, adapt to changing market conditions and provide important diversification benefits. With its flexible and nimble multisector fixed income approach, the Fund has the ability to pivot in reaction to changing market dynamics, taking advantage of investment opportunities that can be difficult to access.

    Fund management

    Portfolio management

    Pioneer Investments logo

    Pioneer Investments

    Pioneer Investments is a Victory Capital Investment Franchise located in Boston, Massachusetts and Durham, North Carolina. The history of Pioneer Investments dates back to 1928 with the launch of the Pioneer Fund, the second oldest mutual fund in the U.S. The team’s investment philosophy, which emphasizes proprietary research and individual security selection, is rooted in a long history of value investing. Victory Capital is a diversified global asset management firm that operates a next-generation business model combining boutique investment qualities with the benefits of a fully integrated, centralized operating and distribution platform.

    Pioneer Investments Franchise Snapshot:

    • 90+ investment professionals, primarily located in Boston, MA, and Durham, NC
    • Conviction-driven, active management approach to all asset classes, including U.S. equities, global equities, multi-asset and fixed income
    • World-wide investor base, located in 65 countries
    • Broad suite of differentiated processes and strategies, offering diverse solutions to investor needs around the world

    Founded: 1928

    Location: Boston, MA, and Durham, NC

    Assets Under Management (AUM): $147 Billion (as of 6/30/2026)

    Management team

    Jonathan M. Duensing photo

    Jonathan M. Duensing, CFA

    Portfolio Manager

    Investing since: 1993
    Fund tenure since: 2015
    Education: BA, University of Illinois-Urbana-Champaign
    Jeff Galloway photo

    Jeff Galloway, CFA

    Portfolio Manager

    Investing since: 1998
    Fund tenure since: 2023
    Education: MBA, University of Chicago Booth School of Business; BBA, University of Iowa Henry B. Tippie College of Business
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    Performance

    Average annual returns
    (as of )

    Important disclosure

    The results shown represent past performance; past performance does not guarantee future results. Current performance may be lower or higher than the past performance shown. Share price, principal value, and return will vary, and you may have a gain or a loss when you sell your shares. Current performance may be lower or higher than the performance data quoted.

    Performance returns assume the reinvestment of all distributions. Returns for periods less than one year are not annualized. Total returns reflect a contractual expense limitation for direct annual Fund expenses for all classes for certain periods since inception, without which returns would have been lower. Pre-inception historical performance for newer share classes is based on the corresponding share class performance of a Fund's predecessor fund. If no predecessor Fund applies, historical performance is based on that of the longest existing share class, adjusted for sales charges if applicable.

    Calendar year returns
    (as of )

    Growth of 10K
    (as of )

    Fees, expenses and minimums

    Important disclosure

    The expense ratios are as of the most recent prospectus. The difference between gross and net operating expenses reflects contractual fee waivers in place through March 2, 2027.

    The Nationwide Mutual Funds and NFA entered into a written contract limiting annual fund operating expenses to 0.49% until at least March 2, 2027. Under the agreement, the expense cap applies to all share classes (excluding 12b-1 fees). Please see the Fund's prospectus for more details.

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    Portfolio

    Asset allocation
    (as of )

    Percentage of net assets. The net exposures are a combination of potential long and short exposures of derivatives, such as futures and forward foreign currency contracts.

    Top 10 holdings
    NWXEX (as of )

    Holding nameWeight (%)
    No holdings data available.

    Holdings are provided for informational purposes and should not be deemed as a recommendation to buy or sell the securities.

    Sector allocations
    (as of )

    Percentage of net assets. The net exposures are a combination of potential long and short exposures of derivatives, such as futures and forward foreign currency contracts. Percentages may not total 100.00 due to rounding.

    For additional sector breakdown, see fact sheets in "Fund documentation" above.

    Portfolio characteristics
    (as of )

    * Portfolio Characteristics are calculated based on the Fund’s Morningstar Category Index using a rolling 3-year time period. If Inception Date of the share class is less than 3 years ago, Characteristic is not available.

    Style details
    (as of )

    Important disclosure

    The Morningstar Style Box is a nine-square grid that provides a graphical representation of the "investment style" of mutual funds as of the date noted above. For funds with underlying fixed-income holdings, those holdings are used to measure credit quality on the Fixed-Income Style Box's vertical axis in three categories (High, Medium, Low) and interest rate sensitivity on the horizontal axis in three categories (Limited, Moderate, Extensive). A darkened square in the Style Box indicates the weighted average style of the portfolio.

    Credit quality
    NWXEX (as of )

    Credit qualityHoldings (%)

    Important disclosure

    Exposures are expressed as a percentage of portfolio market value using security market values or notional market values. Ratings shown are in order of priority: Moody’s, S&P, Fitch, Kroll, DBRS, and Morningstar. For the average portfolio credit rating, Moody’s rating is used if available and U.S. Treasury, senior Agency debt, and Agency MBS are treated as Aaa.

    NR – Not Rated refers to securities that do not have a rating from Moody’s, S&P, Fitch, Kroll, DBRS, and Morningstar. Average rating is calculated for rated instruments only, and excludes cash and non-rated instruments.

    Rankings and ratings
    (as of )

    Fund risks

    The Fund is subject to the risks of investing in fixed-income securities, including high-yield bonds (which are more volatile). These risks include default risk and interest rate risk (if interest rates go up, bond prices go down, and if interest rates go down, bond prices go up). The Fund may invest in corporate loans (which have speculative characteristics and are high risk) and sovereign debt (a governmental entity may delay or refuse to pay interest or repay principal). The Fund also is subject to the risks of investing in foreign securities (currency fluctuations, political risks, differences in accounting and limited availability of information, all of which are magnified in emerging markets). The Fund may concentrate on specific sectors or countries, subjecting it to greater volatility than that of other mutual funds. The Fund may invest in more-aggressive investments such as derivatives (many of which create investment leverage and illiquidity, and are highly volatile). The Fund's holdings may subject the Fund to liquidity risk, making it more volatile than other mutual funds. Please refer to the most recent prospectus for a more detailed explanation of the Fund's principal risks.

    Distributions

    Distribution information

    Access important year-end information shareholders will need to prepare taxes.

    [1] Bloomberg US Aggregate Bond Index: An unmanaged, market value-weighted index of U.S. dollar-denominated, investment-grade, fixed-rate, taxable debt issues, which includes Treasuries, government-related and corporate securities, mortgage-backed securities (agency fixed-rate and hybrid adjustable-rate mortgage pass-throughs), asset-backed securities and commercial mortgage-backed securities (agency and non-agency). Bloomberg® and its indexes are service marks of Bloomberg Finance L.P. and its affiliates including Bloomberg Index Services Limited, the administrator of the index, and have been licensed for use for certain purposes by Nationwide. Bloomberg is not affiliated with Nationwide, and Bloomberg does not approve, endorse, review or recommend this product. Bloomberg does not guarantee the timeliness, accurateness, or completeness of any date or information relating to this product.

    *Effective 6/26/25, the Nationwide Amundi Strategic Income Fund was renamed to the Nationwide Strategic Income Fund.

    Need more information?
    We’re here to help you meet your clients’ needs. 
    Mutual fund service: 1-800-848-0920
    Retail mutual fund sales: 1-877-245-0761
    Connect with a Nationwide Funds wholesaler or key accounts representative

    Read this important information

    Performance represents average annual total returns, assumes the reinvestment of all distributions and reflects applicable sales charges. Total returns reflect a waiver of part of each Fund's fees for certain periods since inception, without which returns would have been lower. Average annual total returns illustrate the annual compounded returns that would have produced the cumulative total return if each Fund's performance had remained constant throughout the period indicated. Returns for periods less than one year are not annualized.

    Additional disclosures

    Returns prior to the first offering of a specific share class of a Fund are based on the previous performance of other share classes of that Fund as noted below. This performance is substantially similar to what the specific share class would have produced because all share classes of a Fund invest in the same portfolio of securities. Performance assumes the reinvestment of all dividends and distributions. Performance has not been adjusted to reflect differences in applicable sales charges for individual classes, which if reflected may have resulted in higher or lower performance for the specific share class. Performance has been adjusted to reflect different expense levels for individual classes.

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    Morningstar Ratings disclosure

    Morningstar Ratings reflect risk-adjusted performance. The Morningstar RatingTM is derived from a weighted average of the performance figures associated with the Fund's 3-, 5- and 10-year (if applicable) periods.

    Morningstar Ratings metrics: Morningstar Ratings are based solely on a proprietary mathematical formula based on measures of risk and performance that it recalculates each month. The ratings formula measures the amount of variation in a fund's monthly performance (excluding the effects of sales charges and loads) emphasizing downward variations and rewarding consistency. Ratings are subject to change every month. The top 10% of funds in the category receive 5 stars; the next 22.5%, 4 stars; the next 35%, 3 stars; the next 22.5%, 2 stars; and the bottom 10%, 1 star.

    Ratings are based on specific class performance of each fund. Current fund performance may be higher or lower, which may change a fund's star rating. Despite high ratings, funds may have experienced negative performance during the period. Performance may reflect a waiver of part of a fund's fees for certain periods since inception, without which returns would have been lower. The Morningstar Rating does not include any adjustment for sales loads.

    © 2026 Morningstar. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.