# EDGAR Filing Document

**Accession Number:** 0001048702
**File Stem:** 0001193125-26-071625
**Filing Date:** 2026-2
**Character Count:** 20751
**Document Hash:** f45d0fa30a715980ef2baf2a045f5672
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-071625.hdr.sgml**: 20260225

**ACCESSION NUMBER**: 0001193125-26-071625

**CONFORMED SUBMISSION TYPE**: 497K

**PUBLIC DOCUMENT COUNT**: 5

**FILED AS OF DATE**: 20260225

**DATE AS OF CHANGE**: 20260225

**EFFECTIVENESS DATE**: 20260225

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** NATIONWIDE MUTUAL FUNDS
- **CENTRAL INDEX KEY:** 0001048702

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** 497K
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-40455
- **FILM NUMBER:** 26678811

**BUSINESS ADDRESS:**
- **STREET 1:** ONE NATIONWIDE PLAZA
- **STREET 2:** MAIL CODE 05-02-210
- **CITY:** COLUMBUS
- **STATE:** OH
- **ZIP:** 43215
- **BUSINESS PHONE:** 614-435-5749

**MAIL ADDRESS:**
- **STREET 1:** ONE NATIONWIDE PLAZA
- **STREET 2:** MAIL CODE 05-02-210
- **CITY:** COLUMBUS
- **STATE:** OH
- **ZIP:** 43215

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** GARTMORE MUTUAL FUNDS
- **DATE OF NAME CHANGE:** 20020125

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** NATIONWIDE MUTUAL FUNDS
- **DATE OF NAME CHANGE:** 19991015

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** NATIONWIDE INVESTING FOUNDATION III
- **DATE OF NAME CHANGE:** 19971029

## Series and Classes Contracts Data

### Nationwide Government Money Market Fund (Series ID: S000005013)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000013648 | Class R6      | GMIXX           |
| C000013649 | Investor      | MIFXX           |
| C000013650 | Service Class | NWSXX           |

![](g90789imgfbd5db591.gif)

Nationwide Government Money Market Fund

Summary Prospectus March 2, 2026

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**Class**/Ticker **Investor Shares** MIFXX **Service Class** NWSXX **R6** GMIXX

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Before you invest, you may want to review the Fund's Prospectus, which contains information about the Fund and its risks. The Fund's Prospectus and Statement of Additional Information, each dated March 2, 2026 (as may be supplemented or revised), are incorporated by reference into this Summary Prospectus. For free paper or electronic copies of the Fund's Prospectus and other information about the Fund, go to nationwide.com/mutualfundprospectuses, email a request to web_help@nationwide.com or call 800-848-0920, or ask any financial advisor, bank, or broker-dealer who offers shares of the Fund.

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**Objective**

The Nationwide Government Money Market Fund seeks as high a level of current income as is consistent with preserving capital and maintaining liquidity. The Fund is a "government" money market fund that seeks to maintain a stable net asset value of $1.00 per share.

**Fees and Expenses**

This table describes the fees and expenses you may pay when buying and holding shares of the Fund. There are no sales charges to purchase or sell shares of the Fund.

**Annual Fund Operating Expenses** (expenses that you pay each year as a percentage of the value of your investment)

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| | | | |
|:---|:---|:---|:---|
|  | Investor<br> Shares<br>| Service Class<br> Shares<br>| Class R6<br> Shares<br>|
| Management Fees | 0.30% | 0.30% | 0.30% |
| Distribution and/or Service (12b-1) Fees |  | 0.15% |  |
| Other Expenses | 0.25% | 0.30% | 0.15% |
| **Total Annual Fund Operating Expenses** | 0.55% | 0.75% | 0.45% |
| Fee Waiver/Expense Reimbursement<sup>(1),</sup><sup>(2)</sup> <br>| (0.02)% | (0.02)% | (0.02)% |
| **Total Annual Fund Operating Expenses After Fee Waiver/Expense Reimbursement** | 0.53% | 0.73% | 0.43% |

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<sup>(1)</sup> Nationwide Mutual Funds (the "Trust") and Nationwide Fund Advisors (the "Adviser") have entered into a written contract limiting annual fund operating expenses to 0.75% for Service Class

shares only until at least March 2, 2027. Under the expense limitation agreement, the level to which operating expenses are limited excludes any taxes, interest, compensation payable to parties

not affiliated with the Adviser for the recovery of tax reclaims, 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 nonroutine expenses not

incurred in the ordinary course of the Fund's business. The expense limitation agreement may be changed or eliminated only with the consent of the Board of Trustees of the Trust. The Adviser

may request and receive reimbursement from the Fund for advisory fees waived or other expenses reimbursed by the Adviser pursuant to the expense limitation agreement at a date not to

exceed three years from the date in which the corresponding waiver or reimbursement to the Fund was made. However, no reimbursement may be made unless: (i) the Fund's assets exceed

$100 million and (ii) the total annual expense ratio of the class making such reimbursement is no higher than the amount of the expense limitation that was in place at the time the Adviser waived the fees or reimbursed the expenses and does not cause the expense ratio to exceed the current expense limitation. Reimbursement by the Fund of amounts previously waived or reimbursed by the Adviser is not permitted except as provided for in the expense limitation agreement.

<sup>(2)</sup> In addition to the expense limitation agreement discussed in Footnote 1, the Trust and the Adviser have entered into a written contract in which the Adviser has agreed to waive 0.027% of the

management fee to which the Adviser would otherwise be entitled until March 2, 2027. The written contract may be changed or eliminated only with the consent of the Board of Trustees of the

Trust.

**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, and any expense limitation or fee waivers that

SP-MMKT (3/26)

**Summary Prospectus March 2, 2026**

**1**

**Nationwide Government Money Market Fund**

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may apply for the periods indicated above under "Fees and Expenses." Although your actual costs may be higher or lower, based on these assumptions your costs would be:

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **1 Year** | **3 Years** | **5 Years** | **10 Years** |
| Investor Shares | &nbsp;&nbsp;&nbsp;&nbsp; $54 | &nbsp;&nbsp;&nbsp;&nbsp; $174 | &nbsp;&nbsp;&nbsp;&nbsp; $305 | &nbsp;&nbsp;&nbsp;&nbsp; $687 |
| Service Class Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 238 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 415 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 928 |
| Class R6 Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 142 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 565 |

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**Principal Investment Strategies**

The Fund seeks to maintain a stable price of $1.00 per share by using the amortized cost method of valuation to value portfolio securities. The Fund invests primarily in a portfolio of U.S. government securities and repurchase agreements that are collateralized fully by cash or U.S. government securities, and which mature in 397 calendar days or less, with certain exceptions permitted by applicable regulations. U.S. government securities are debt securities issued and/or guaranteed as to principal or interest by the United States, or by a person controlled or supervised by and acting as an instrumentality of the government of the United States.

The Fund limits investments to those securities that are Eligible Securities as defined by applicable regulations at the time of purchase (i.e., securities that are determined to present minimal credit risks, government securities, and shares of other money market funds). The Fund maintains a dollar-weighted average maturity of no more than 60 calendar days and a dollar-weighted average life of no more than 120 calendar days that is determined without reference to certain interest rate readjustments.

The Fund operates as a "Government Money Market Fund," as defined in Rule 2a-7 under the Investment Company Act of 1940, as amended. This means that the Fund invests at least 99.5% of its total assets in (1) U.S. government securities, (2) repurchase agreements that are collateralized fully by U.S. government securities or cash, (3) cash, and/or (4) other money market mutual funds that operate as Government Money Market Funds. Under normal circumstances, the Fund invests at least 80% of its net assets in U.S. government securities and repurchase agreements that are fully collateralized by U.S. government securities. In contrast to the Fund's 99.5% policy, the Fund's 80% policy does not include cash.

The Fund does not currently intend to impose liquidity fees on Fund redemptions. However, the Fund's Board of Trustees reserves the ability to subject the Fund to a liquidity fee in the future, after providing prior notice to shareholders.

Because the Fund invests in short-term securities, the Fund's subadviser generally sells securities only to meet liquidity needs, to maintain target allocations or to take advantage of more favorable opportunities.

**Principal Risks**

You could lose money by investing in the Fund. Although the Fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. An investment in the Fund is not a bank account and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The Fund's sponsor is not required to reimburse the Fund for losses, and you should not expect that the sponsor will provide financial support to the Fund at any time, including during periods of market stress.

***Yield risk*** – there is no guarantee that the Fund will provide a certain level of income or that any such income will stay ahead of inflation. Further, the Fund's yield will vary; it is not fixed for a specific period like the yield on a bank certificate of deposit. On days during which there are net purchases of Fund shares, the Fund must invest the proceeds at prevailing market yields or hold cash. If the Fund holds cash, or if the yield of the securities purchased is less than that of the securities already in the portfolio, the Fund's yield will likely decrease. Conversely, net purchases on days on which short-term yields rise will likely cause the Fund's yield to increase.

***Interest rate risk*** – generally, when interest rates go up, the value of fixed-income securities goes down. Prices of longer-term securities generally change more in response to interest rate changes than prices of shorter-term securities. The interest earned on the Fund's investments in fixed-income securities will decline when prevailing interest rates fall. Declines in interest rates increase the likelihood that debt obligations will be prepaid, which, in turn, increases these risks. Very low or negative interest rates may prevent the Fund from providing a positive yield or from paying Fund expenses out of current income without impairing the Fund's ability to maintain a stable net asset value and increase the risk that, if followed by rising interest rates, the Fund's performance will be negatively impacted. The Fund is subject to the risk that the income generated by its investments in fixed-income securities will not keep pace with inflation. Recent and potential future changes in government policy may affect

**Summary Prospectus March 2, 2026**

**2**

**Nationwide Government Money Market Fund**

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interest rates. Changing interest rates, including rates that fall below zero, can be sudden and unpredictable and may have unpredictable effects on markets, may result in heightened market volatility and may detract from Fund performance to the extent the Fund is exposed to such interest rates and/or volatility.

***Credit risk*** – U.S. government securities generally have the least credit risk, but are not completely free from credit risk. Credit risk is the risk that an issuer will default if it is unable to pay the interest or principal when due. If an issuer defaults, the Fund will lose money. Changes in a bond issuer's credit rating or the market's perception of an issuer's creditworthiness also affect the value of a bond. Any downgrade of securities issued by the U.S. government may result in a downgrade of securities issued by its agencies or instrumentalities.

***Market risk*** – the risk that one or more markets in which the Fund invests will go down in value, including the possibility that the markets will go down sharply and unpredictably. This occurs due to numerous factors, including interest rates, the outlook for corporate profits, the health of the national and world economies, and the fluctuation of other securities markets around the world. These risks may be magnified if certain social, political, economic and other conditions and events (such as natural disasters, epidemics and pandemics, terrorism, conflicts, trade disputes and social unrest or rapid technological developments such as artificial intelligence) adversely interrupt the global economy.

***Selection risk*** – the risk that the securities selected by the Fund's subadviser will underperform the markets, the relevant indexes or the securities selected by other funds with similar investment objectives and investment strategies.

***Liquidity risk*** – the risk that the Fund will experience significant net redemptions of Fund shares at a time when it cannot find willing buyers for its portfolio securities or can only sell its portfolio securities at a material loss. An inability to sell portfolio securities may result from adverse market developments or investor perceptions regarding the portfolio securities. While the Fund endeavors to maintain a high level of liquidity in its portfolio so that it can satisfy redemption requests, the Fund's ability to sell portfolio securities can deteriorate rapidly due to credit events affecting particular issuers, or due to general market conditions and a lack of willing buyers.

***Repurchase agreements risk*** – exposes the Fund to the risk that the party that sells the securities to the Fund will default on its obligation to repurchase them.

***Investments in other money market mutual funds risk*** – to the extent that the Fund invests in shares of other money market mutual funds, its performance is directly tied to the performance of such other funds. If one of these other money market mutual funds fails to meet its objective, the Fund's performance will be negatively affected. In addition, Fund shareholders will pay a proportionate share of the fees and

expenses of such other money market mutual fund (including applicable management, administration and custodian fees) as well as the Fund's direct expenses. Any such other money market mutual fund will not charge any front-end sales loads, contingent deferred sales charges or Rule 12b-1 fees.

***U.S. government securities risk*** – not all obligations of the U.S. government, its agencies and instrumentalities are backed by the full faith and credit of the United States. Some obligations are backed only by the credit of the issuing agency or instrumentality, and in some cases there is some risk of default by the issuer. Even if a security is backed by the U.S. Treasury or the full faith and credit of the United States, such guarantee applies only to the timely payment of interest and principal. Neither the U.S. government nor its agencies guarantee the market value of their securities, and interest rate changes, prepayments and other factors will affect the value of U.S. government securities. It is possible that issuers of U.S. government securities will not have the funds to meet their payment obligations in the future.

***Risk associated with holding cash*** – although the Fund seeks to be fully invested, it at times holds some of its assets in cash, which may hurt the Fund's performance.

*Loss of money is a risk of investing in the Fund. An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.*

**Performance**

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. The table compares the Fund's average annual total returns to the returns of an index with characteristics relevant to the Fund's investment strategy. 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.

Please call 800-848-0920 for the Fund's current 7-day yield.

**Summary Prospectus March 2, 2026**

**3**

**Nationwide Government Money Market Fund**

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**Annual Total Returns– Investor Shares** <br>**(Years Ended December 31,)**

![](g90789mmkt.jpg)

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| | | |
|:---|:---|:---|
| **Highest Quarter:** | **1.24%** | **Q4 2023** |
| **Lowest Quarter:** | **0.00%** | **Q1 2022** |

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**Average Annual Total Returns** <br>**(For the Periods Ended December 31, 2025)** 

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| | | | |
|:---|:---|:---|:---|
|  | **1 Year** | **5 Years** | **10 Years** |
| Investor Shares  | 3.83% | 2.88% | 1.80% |
| Service Class Shares  | 3.62% | 2.74% | 1.67% |
| Class R6 Shares  | 3.93% | 2.96% | 1.87% |
| iMoneyNet Money Fund AverageTM <br> Government All (The Index does not pay sales <br> charges, fees, expenses or taxes.)<br>| 3.96% | 2.98% | 1.89% |

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**Portfolio Management**

**Investment Adviser**

Nationwide Fund Advisors

**Subadviser**

Dreyfus, a division of Mellon Investments Corporation

**Purchase and Sale of Fund Shares** 

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| |
|:---|
| **Minimum Initial Investment**<br> Investor Shares: $2,000<br> Service Class: $50,000<br> Class R6: $1,000,000<br> Automatic Asset Accumulation Plan (Investor Shares): $0\*<br> *\* Provided each monthly purchase is at least $50*<br>|
| **Minimum Additional Investment**<br> Investor Shares: $100<br> Service Class, Class R6: no minimum<br> Automatic Asset Accumulation Plan (Investor Shares): $50<br>|

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In general, you can buy or sell (redeem) shares of the Fund through your broker-dealer or financial intermediary, or 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** | **To Purchase and Sell (Redeem) Fund Shares** | **To Purchase and Sell (Redeem) Fund Shares** |
| **Mail:**<br> Nationwide Funds<br> c/o U.S. Bank Global <br> Fund Services<br> P.O. Box 219336<br> Kansas City, MO <br> 64121-9336<br>| **Overnight:**<br> Nationwide Funds<br> c/o U.S. Bank Global <br> Fund Services<br> 801 Pennsylvania Ave., <br> Suite 219336<br> Kansas City, MO <br> 64105-1307<br>| **Website:**<br> nationwide.com/ <br> mutualfunds<br>|
| Phone: 800-848-0920 (toll free). Representatives are available 9 a.m. – <br> 8 p.m. Eastern time, Monday through Friday. | Phone: 800-848-0920 (toll free). Representatives are available 9 a.m. – <br> 8 p.m. Eastern time, Monday through Friday. | Phone: 800-848-0920 (toll free). Representatives are available 9 a.m. – <br> 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, unless you are investing through a tax-advantaged arrangement, such as a 401(k) plan or an individual retirement account, in which case your distributions may be taxed as ordinary income when withdrawn from the tax-advantaged 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.

**Summary Prospectus March 2, 2026**

**4**

**Nationwide Government Money Market Fund**

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