Nationwide S&P 500 Index Fund
GRMIX
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- Nationwide S&P 500 Index Fund (GRMIX) is an open-end mutual fund that employs a passive indexing approach to match the price and yield performance of the S&P 500 Index, comprising approximately 500 large-capitalization U.S. common stocks across diverse industries; it invests at least 80% of its net assets in equity securities of S&P 500 constituents or substantially similar instruments, with a low-turnover strategy to minimize costs and tracking error. The fund offers Class R6 shares with a net expense ratio of 0.18%, daily pricing, and a minimum initial investment of $1 million, targeting institutional and retirement plan investors seeking large-blend exposure to the U.S. equity market; total net assets stand at approximately $1.74 billion, with the share class at $276.71 million. Headquartered in Columbus, Ohio, at One Nationwide Plaza, the fund operates under Nationwide Mutual Funds, established with an inception date of December 30, 1999, and is domiciled in the United States. Portfolio management is provided by BlackRock Investment Management, LLC, a New York-based firm with over $12.5 trillion in assets under management; the team includes Jennifer Hsui (since 2019), Peter Sietsema (since 2023), and new additions Matt Waldron and Steven White (both since July 2025). Top holdings as of recent data include NVIDIA Corp. (8.40%), Apple Inc. (6.82%), Microsoft Corp. (6.54%), Amazon.com Inc. (4.03%), and Broadcom Inc. (2.95%), representing 28.74% of the portfolio; sector allocations emphasize technology (36.87%), financial services (12.58%), and consumer cyclical (10.67%), with 99.63% in U.S. stocks. In recent developments, Nationwide, the parent organization, completed the acquisition of Allstate's employer stop-loss business for $1.25 billion in November 2025, enhancing its financial services portfolio and group benefits capabilities for small businesses self-funding health plans. Earlier in 2024, Nationwide finalized the acquisition of Jefferson National, integrating it as a wholly-owned subsidiary focused on tax-advantaged investing solutions and transitioning it to the Nationwide brand. These strategic moves, alongside ongoing expense limitations through February 28, 2026 (capping direct expenses at 0.21%), reflect Nationwide's expansion in financial products amid a stable fund strategy.