Strategy. The Fund is a fund-of-funds that invests primarily in affiliated mutual funds representing a variety of asset classes. The Fund aims to provide diversification across major asset classesU.S. stocks, international stocks, and bondsby investing primarily in mutual funds offered by Nationwide Mutual Funds and unaffiliated exchange-traded funds (each, an Underlying Fund or collectively, Underlying Funds). Each Underlying Fund invests directly in equity or other securities, as appropriate to its investment objective and strategies. Certain Underlying Funds are actively managed, and other Underlying Funds are index funds that invest directly in equity securities or other securities with a goal of obtaining investment returns that closely track a benchmark securities index. Some Underlying Funds use futures, swaps and options, which are derivatives, … Show more… The Fund is a fund-of-funds that invests primarily in affiliated mutual funds representing a variety of asset classes. The Fund aims to provide diversification across major asset classesU.S. stocks, international stocks, and bondsby investing primarily in mutual funds offered by Nationwide Mutual Funds and unaffiliated exchange-traded funds (each, an Underlying Fund or collectively, Underlying Funds). Each Underlying Fund invests directly in equity or other securities, as appropriate to its investment objective and strategies. Certain Underlying Funds are actively managed, and other Underlying Funds are index funds that invest directly in equity securities or other securities with a goal of obtaining investment returns that closely track a benchmark securities index. Some Underlying Funds use futures, swaps and options, which are derivatives, either to hedge against investment risks, to obtain exposure to certain securities or groups of securities, to take short positions in certain securities, or otherwise to increase returns. Although the Fund seeks to provide diversification across major asset classes, the Fund invests a significant portion of its assets in a small number of issuers (i.e., Underlying Funds). However, the Fund may invest directly in securities and derivatives in addition to investing in Underlying Funds. Further, the Underlying Funds in which the Fund invests generally are diversified. The Fund pursues its objective primarily by seeking growth of capital, as well as income. Through investments in the Underlying Funds, the Fund invests a significant portion of its assets in equity securities, such as common stocks of U.S. and international companies, including smaller companies, and a smaller portion in bonds. The Fund seeks exposure to securities of foreign issuers, which may include securities of issuers in emerging market countries. Nationwide Fund Advisors (the Adviser) establishes a target allocation for the Fund among different asset classes which the Adviser believes is appropriate for the Funds risk profile and investment strategies, and which the Adviser may change over time. As of January 31, 2026, the Fund allocated approximately 47% of its net assets in U.S. stocks, approximately 33% in international stocks and approximately 20% in bonds (including mortgage-backed and asset-backed securities). The Fund is designed for moderately aggressive investors who want to maximize returns over the long-term but who have a tolerance for possible short-term losses or who are looking for some additional diversification. Show less