Objective
The
Fund seeks long-term capital appreciation.
Fees and Expenses
This table describes the fees and expenses you may pay when buying and holding shares of the Fund. You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future,
at least $50,000 in Nationwide Funds.
More information about these and other discounts is available from your financial professional and in “Investing with Nationwide Funds” commencing on page 76 of the Prospectus and in
“Additional Information on Purchases and Sales” commencing on page 74 of the Statement of Additional Information.
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Class A
Shares
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Class C
Shares
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Institutional Class
Shares
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Institutional Service
Class Shares
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Shareholder Fees
(fees paid directly from your investment)
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Maximum Sales Charge (Load) imposed on purchases (as a percentage of offering
price)
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5.75%
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None
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None
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None
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Maximum Deferred Sales Charge (Load) (as a percentage of offering or sale price, whichever is
less)
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None
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1.00%
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None
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None
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Annual Fund Operating
Expenses
(expenses that you pay each year as a percentage of the value of your investment)
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Management Fees
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0.95%
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0.95%
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0.95%
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0.95%
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Distribution and/or Service (12b-1) Fee
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0.25%
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1.00%
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None
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None
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Other Expenses
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0.63%
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0.38%
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0.38%
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0.63%
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Total Annual Fund Operating Expenses
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1.83%
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2.33%
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1.33%
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1.58%
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Fee Waiver/Expense Reimbursement
1
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(0.21)%
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(0.11)%
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(0.11)%
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(0.21)%
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Total Annual Fund Operating Expenses
After Waivers/Reimbursements
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1.62%
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2.22%
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1.22%
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1.37%
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1
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Nationwide Mutual Funds (the “Trust”) and Nationwide Fund Advisors (the “Adviser”) have entered into a written contract limiting annual fund operating
expenses to 1.62% for Class A shares, 2.22% for Class C shares, 1.22% for Institutional Class shares, and 1.37% for Institutional Service Class shares until at least November 30, 2015. Under the expense limitation agreement, the level to which
operating expenses are limited excludes any taxes, interest, brokerage commissions, acquired fund fees and expenses, short-sale dividend expenses, other expenses which are capitalized in accordance with generally accepted accounting principles and
expenses incurred by the Fund in connection with any merger or reorganization, and may exclude other non-routine expenses not incurred in the ordinary course of the Fund’s business. The expense limitation agreement may be changed or eliminated
at any time but only with the consent of the Board of Trustees of the Trust. The Trust is authorized to reimburse the Adviser for management fees previously waived and/or for expenses previously paid by the Adviser, provided, however, that any
reimbursements must be paid at a date not more than three years after the fiscal year in which the Adviser waived the fees or reimbursed the expenses and the reimbursements do not cause the Fund to exceed the expense limitation that was in place at
the time the Adviser waived the fees or reimbursed the expenses.
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SP-HM-SCC (3/14)
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Summary Prospectus March 1, 2014
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1
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Nationwide HighMark Small Cap Core Fund
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Example
This Example is intended to help you to compare the cost of investing in the Fund with the cost of investing in other mutual funds.
The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then sell all of your shares at the end of those time periods. It assumes a 5% return each year and no change in
expenses. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
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1 Year
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3 Years
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Class A shares
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$730
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$1,098
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Class C shares
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325
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717
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Institutional Class shares
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124
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411
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Institutional Service Class shares
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139
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478
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You would pay the following expenses on the same investment if you did not sell your shares:
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1 Year
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3 Years
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Class C shares
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$225
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$717
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Portfolio Turnover
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs.
These costs, which are not reflected in Annual Fund Operating Expenses or in the Example, affect the Fund’s performance. During the most recent fiscal year of the predecessor fund (July 31, 2013), the portfolio turnover rate was 77.17% of
the average value of its portfolio. See the section entitled “Performance” for more information about the predecessor fund.
Principal Investment Strategies
The Fund invests primarily in stocks of U.S. small-cap companies that the subadviser believes have improving earnings growth potential and attractive valuation. Under normal circumstances, the Fund will
invest at least 80% of its net assets in equity securities of small-cap companies whose capitalization is within the range of the market capitalization of the companies in the Russell 2000 Index. The subadviser makes market capitalization
determinations with respect to a security at the time of purchase of such security.
The subadviser uses an actively managed bottom-up stock
selection process for choosing securities across the small-cap equity market universe. The subadviser seeks to identify those securities most attractive from a fundamental perspective, based on favorable valuation factors, supportive management
criteria and potential for price appreciation. The subadviser will tend to show a preference for inexpensive stocks characterized by favorable valuation characteristics and improving catalysts. The subadviser seeks to manage portfolio risk using a
portfolio construction process that imposes active security and sector exposure limits while balancing overall portfolio risk versus expected excess return. This portfolio management process determines buy and sell decisions in an effort to maintain
an
equity portfolio that is diversified across sectors. Risk characteristics of the portfolio are monitored in an effort to minimize return volatility relative to the Russell 2000 Index. Investments
are sold when, as determined by the subadviser, relative fundamentals deteriorate or alternative investments become sufficiently more attractive.
In addition to holdings in primarily U.S. small-cap equity securities, the Fund may invest up to 20% of its assets in foreign securities, including American
Depositary Receipts. The Fund may also invest in derivatives (including equity index futures) and exchange-traded funds (“ETFs”). Derivatives, particularly index futures and options, may be used by the Fund to shift style or size exposure,
as well as efficiently manage cash flow from shareholder redemptions or subscriptions. Fixed-income and cash equivalent assets will generally not exceed 10% of the total assets of the Fund under normal market conditions.
Principal Risks
The Fund cannot guarantee that
it will achieve its investment objective.
As with any fund, the value of the Fund’s investments—and therefore, the value of Fund
shares—may fluctuate. These changes may occur because of:
Stock
market risk
– the Fund could lose value if the individual stocks in which it invests or overall stock markets in which such stocks trade go down.
Small-cap risk
– smaller companies are usually less stable in price and less liquid than are larger, more established companies. Small 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.
Foreign
securities risk
– foreign securities may be more volatile, harder to price and less liquid than U.S. securities. The prices of foreign securities may be further affected by other
factors, such as changes in the exchange rates between the dollar and the currencies in which the securities are traded. American Depositary Receipts are generally subject to the same risks as the foreign securities that they evidence or into which
they may be converted. Certain depositary receipts are not listed on an exchange and therefore may be considered to be illiquid securities.
Exchange-traded funds risk
– an investment in an ETF is subject to all of the risks of investing in the securities held by the ETF and there is no guarantee that the market price of an ETF is the same as the market value of the
ETF’s underlying securities. Because an ETF has operating expenses and transaction costs, while a market index does not, ETFs that track particular indices typically will be unable to match the performance of the index exactly. Because of the
ability of large market participants to arbitrage price differences by purchasing or redeeming creation units, however, the difference between the market value and the net asset value of ETF shares should, in most cases, be small. An ETF may be
terminated and need to liquidate its portfolio securities at a time when the prices for those securities are falling.
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Summary Prospectus March 1, 2014
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2
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Nationwide HighMark Small Cap Core Fund
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Derivatives risk
– derivatives may be volatile and may involve significant risks. The underlying security, commodity, measure or other instrument on which a derivative is based, or the derivative itself, may not
perform as expected. Certain derivatives may involve leverage, which means that their use can significantly magnify the effect of price movements of the underlying securities or reference measures, disproportionately increasing the Fund’s
losses and reducing the Fund’s opportunities for gains. Some derivatives have the potential for unlimited loss, including a loss that may be greater than the amount invested. They also present default risks if the counterparty to a derivatives
contract fails to fulfill its obligations to the Fund. Certain derivatives held by the Fund may be illiquid, making it difficult to close out an unfavorable position. Derivatives may also be more difficult to purchase, sell or value than other
instruments.
Futures
– the prices of futures contracts are typically more volatile than those of stocks and bonds.
Small movements in the values of the assets or measures underlying futures contracts can cause disproportionately larger losses to the Fund. While futures may be more liquid than other types of derivatives, they may experience periods when they are
less liquid than stocks, bonds or other investments.
Options
– When options are purchased over the counter, the Fund
bears the risk that the counterparty that wrote the option will be unable or unwilling to perform its obligations under the option contract. The Fund’s ability to close out positions in exchange-listed options depends on the existence of a
liquid market. Options that expire unexercised have no value.
In addition to these risks, the Fund’s subadviser may select securities that
underperform the stock market, the Fund’s benchmark or other mutual funds with similar investment objectives and strategies.
If the value of the Fund’s investments goes down, you may lose money
.
Performance
The returns presented for the Fund
reflect the performance of the HighMark Small Cap Core Fund, a former series of HighMark Funds (the “Predecessor Fund”). The Fund has adopted the historical performance of the Predecessor Fund as the result of a reorganization in which the
Fund acquired all of the assets, subject to the liabilities, of the Predecessor Fund on September 16, 2013. The Fund and the Predecessor Fund have substantially similar investment goals and strategies.
The following bar chart and table can help you evaluate the Fund’s potential risks. The bar chart shows how the Fund’s annual total returns have
varied from year to year. These returns do not reflect the impact of sales charges. If sales charges were reflected, the annual total returns would be lower than those shown. The table compares the Fund’s average annual total returns to the
returns of a broad-based securities index. Remember, however, that past performance (before and after taxes) is not necessarily indicative of how the Fund will perform in the future. Updated performance information is available at no cost by
visiting nationwide.com/mutualfunds or by calling 800-848-0920.
Annual Total Returns – Class A Shares
(Years Ended December 31,)
Best quarter: 19.64% – 3rd qtr. 2009
Worst quarter: -26.93% – 4th qtr. 2008
Year-to-date total return as of September 30, 2013: 26.30%
After-tax returns are shown for Class
A shares only and will vary for other classes. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect state and local taxes. Your actual after-tax return depends on your personal
tax situation and may differ from what is shown here. After-tax returns are not relevant to investors in tax-deferred arrangements, such as individual retirement accounts, 401(k) plans or certain other employer-sponsored retirement plans.
Historical performance for Class A, Class C and Institutional Service Class shares is based on the previous performance of Class A, Class C and
Fiduciary Class Shares, respectively, of the Predecessor Fund. The Fund commenced offering Institutional Class shares on September 18, 2013. Therefore, pre-inception historical performance of Institutional Class shares is based on the previous
performance of the Predecessor Fund’s Fiduciary Class Shares. Performance for Institutional Class shares has not been adjusted to reflect that share class’s lower expenses than those of the Predecessor Fund’s Fiduciary Class Shares.
Average Annual Total Returns
For the Periods Ended December 31, 2012
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1 Year
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5 Years
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Since Inception
(3/1/07)
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Class A shares – Before Taxes
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11.26%
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3.27%
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-0.33%
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Class A shares – After Taxes on Distributions
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11.26%
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3.26%
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-0.37%
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Class A shares – After Taxes on Distributions and Sales of Shares
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7.32%
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2.80%
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-0.29%
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Class C shares
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16.01%
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3.70%
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-0.04%
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Institutional Class shares
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18.12%
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4.76%
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0.93%
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Institutional Service Class shares
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18.12%
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4.76%
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0.93%
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Russell 2000 Index (The Index does not pay sales charges, fees, expenses or
taxes.)
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16.35%
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3.56%
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2.66%
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Summary Prospectus March 1, 2014
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3
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Nationwide HighMark Small Cap Core Fund
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Portfolio Management
Investment Adviser
Nationwide Fund Advisors
Subadviser
HighMark Capital Management, Inc.
(“HighMark”)
Portfolio Managers
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Portfolio Manager
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Title
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Length of Service
with Fund
(and
Predecessor Fund)
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Derek Izuel
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Vice President and Chief Equity Officer, HighMark
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Since 2008
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Edward Herbert
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Vice President and Quantitative Analyst, HighMark
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Since 2012
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Purchase and Sale of Fund Shares
|
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Minimum Initial
Investment
|
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Classes A, C: $2,000
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Institutional Service Class: $50,000
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Institutional Class: $1,000,000
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Automatic Asset Accumulation Plan (Classes A, C): $0*
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* Provided each monthly purchase is
at least $50
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Minimum Additional Investment
|
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Classes A, C: $100
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Automatic Asset Accumulation Plan (Classes
A, C): $50
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In general, you can buy or sell (redeem) shares of the Fund by mail or phone on any business day. You can
generally pay for shares by check or wire.
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To Purchase and Sell (Redeem) Fund Shares
|
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Mail:
Nationwide Funds
P.O. Box 701
Milwaukee, WI 53201-0701
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Overnight:
Nationwide Funds
615 East Michigan Street
Third
Floor
Milwaukee, WI 53202
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Website:
nationwide.com/ mutualfunds
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Phone: 800-848-0920 (toll free).
Representatives are available 9 a.m. – 8 p.m. Eastern time, Monday through Friday.
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Tax Information
The Fund’s distributions are taxable, and generally will be taxed as ordinary income, capital gains, or some combination of both, unless you are
investing through a tax-deferred arrangement, such as a 401(k) plan or an individual retirement account, in which case your distributions generally will be taxed when withdrawn from the tax-deferred account.
Payments to Broker-Dealers and Other Financial Intermediaries
If you purchase the Fund through a broker-dealer or other financial intermediary (such as a bank), the Fund and its related companies may pay the intermediary for the sale of Fund shares and related
services. These payments may create a conflict of interest by influencing the broker-dealer or other intermediary and your salesperson to recommend the Fund over another investment. Ask your salesperson or visit your financial intermediary’s
website for more information.
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Summary Prospectus March 1, 2014
|
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4
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Nationwide HighMark Small Cap Core Fund
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