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    • Overview

    Objective

    Seeks long-term capital growth by investing in stocks that are categorized as either growth or value stocks.

    Fundamentals matter: Employs a bottom-up stock-selection approach which can be a key performance driver.

    Key features

    • Bottom-up stock selection: Seeks to achieve multiple sources of alpha, reduce volatility and preserve long-term return potential 
    • Capitalize on inefficiencies: Expand a portfolio's international exposure to capitalize on the inefficiencies found within foreign small- and mid-cap markets 
    • Unique management structure: Analyst-driven approach in which stock selection is based on sector experience 

    Fund documentation

    Additional resources

    Visit the site where the prospectus, reports, and other regulatory documents are located.
    Mary Pryshlak, Senior Managing Director, and David DiSilvia, Assistant Vice President, explain how the Nationwide International Small Cap differs from other funds and provides opportunities.

    Strategy overview

    Wellington’s objective is to consistently outperform the MSCI EAFE Small Cap Index over a 3- to 5-year period. The portfolio is managed by Wellington’s Global Industry analysts using a unique team-based approach that splits the portfolio into sub-portfolios that industry analysts are responsible for managing. This unique approach allows investors to draw on Wellington’s marketplace of ideas. The best ideas from each industry analyst are incorporated into the portfolio and, with industry weights close to the benchmark, stock selection is expected to drive performance. The diversification aspects of this approach allow for multiple sources of alpha that can reduce volatility and preserve long-term return potential. Investment ideas are implemented by sector analysts within their respective sectors, while the Portfolio Coordination Team reviews pre- and post-trade compliance checks as well as performs cash management and rebalancing functions for the team.

    The portfolio implements an international small- and mid-cap core strategy, with a subtle tilt toward growth that is diversified across industries and neutral to the EAFE Small Cap benchmark. It can be expected to outperform when strong company fundamentals are rewarded by investors and when non-U.S. companies are in favor by investors. The strategy may underperform during periods of global market volatility, particularly when markets are falling in Europe or when investors rotate away from smaller companies.

    Fund management

    Portfolio management

    Wellington Management Company LLP logo

    Wellington Management Company LLP

    Since 1928, Wellington Management Company LLP has tailored its investment solutions to the unique return and risk objectives of institutional clients in more than 55 countries, drawing on a robust body of proprietary research and a collaborative culture that encourages independent thought and healthy debate.

    Founded: 1928

    Location: Boston, MA

    Assets Under Management (AUM): $1.4 Trillion (as of 6/30/2026)

    Management team

    Mary L. Pryshlak photo

    Mary L. Pryshlak, CFA

    Portfolio Manager

    Investing since: 1993
    Fund tenure since: 2018
    Education: BA, Rutgers University
    Jonathan G. White photo

    Jonathan G. White, CFA

    Portfolio Manager

    Investing since: 1994
    Fund tenure since: 2018
    Education: MBA, Babson College; BBA, University of Massachusetts
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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 0.89% 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.

    Top 10 holdings
    NWXSX (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 equity assets. Percentages may not total 100.00 due to rounding.

    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 stocks and stock funds, it classifies securities according to market capitalization (the vertical axis) and growth and value factors (the horizontal axis). A darkened square in the style box indicates the weighted average style of the portfolio.

    Continent allocation
    (as of )

    For top country overweights and underweights, see fact sheets in "Fund documentation" above.

    Rankings and ratings
    (as of )

    Fund risks

    The Fund is subject to the risks of investing in equity securities (including small companies). Smaller companies are usually less stable in price and less liquid than larger, more established companies. Smaller companies are more vulnerable than larger companies to adverse business and economic developments and may have more limited resources. Therefore, they generally involve greater risk. 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 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. The Fund uses both a growth style and a value style of investing, and may underperform other funds that use different investing styles. 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] MSCI EAFE® Index: An unmanaged, free float-adjusted, market capitalization-weighted index that is designed to measure the performance of large-cap and mid-cap stocks in developed markets as determined by MSCI; excludes the United States and Canada.

    The Fund is not sponsored, endorsed, or promoted by MSCI, and MSCI bears no liability with respect to any such funds or securities or any index on which such funds or securities are based.

    [1] MSCI EAFE® Small Cap Index: An equity index capturing small-cap representation across Developed Markets countries around the world, excluding the US and Canada.

    The Fund is not sponsored, endorsed, or promoted by MSCI, and MSCI bears no liability with respect to any such funds or securities or any index on which such funds or securities are based. 

    iShares® is a registered trademark of BlackRock, Inc. or its subsidiaries ("BlackRock"). Neither BlackRock nor the iShares® Funds make any representations regarding the advisability of investing in this Fund.

    Need more information?
    We’re here to help you meet your clients’ needs. 
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    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.