LEGAL PROCEEDINGS

Nationwide Mutual Funds

POTENTIAL MATERIAL LITIGATION

Tribune Company Litigation
Nationwide SP 500 Index Fund (the SP 500 Index Fund),
a series of Nationwide Mutual Funds (NMF),
was named as a defendant in two lawsuits
that are consolidated in a multi-district
litigation pending in the United States District
Court for the Southern District of New York
(the District Court), captioned In
re Tribune Company Fraudulent Conveyance Litigation,
No. 11-MD-2296-RJS (the Tribune MDL).
The Tribune MDL arises from the 2007 leveraged
buyout of The Tribune Company (Tribune) (the Tribune LBO)
and Tribunes subsequent bankruptcy and reorganization.
In connection with the Tribune LBO, thousands of Tribune
shareholders, including the SP 500 Index Fund, sold
Tribune shares back to Tribune. The Tribune MDL includes
a series of lawsuits brought by individual creditors of
Tribune (the Individual Creditor Actions), and a lawsuit
by the trustee (the Trustee) of a litigation trust to which
Tribunes committee of unsecured creditors assigned claims
(the Committee Action).  These lawsuits seek to unwind
the Tribune LBO stock repurchases as fraudulent transfers
and recover the stock repurchase  proceeds paid to the Tribune
shareholders who participated in the Tribune LBO.  The
SP 500 Index Fund was named as a defendant in the Committee
Action and one of the Individual Creditor Actions; NMF and
Nationwide Fund Advisors (NFA) were previously named
as defendants in the Committee Action, but NMF and NFA
have since been dismissed from the lawsuit.  According to the
ost recent amended complaint filed in the Committee
Action, the SP 500 Index Fund is alleged to have received
1,329,720 in exchange for the shares it tendered in the
Tribune LBO.  Plaintiffs seek to unwind the Tribune LBO
 transactions and recover the amount received by the
 SP 500 Index Fund, together with interest and costs.
      The District Court entertained a first round of
	  motions to dismiss in the Individual Creditor Actions
	  (the Phase One Motions).  Following briefing and
argument on the Phase One Motions, the District Court
entered an order dismissing the Individual Creditor Actions
in their entirety on the grounds that the individual creditor
 plaintiffs lack standing to pursue their claims.   The parties
 appealed the District Courts dismissal order to the United States
 Court of Appeals for the Second Circuit (the Second Circuit), and,
 on March 29, 2016, the Second Circuit affirmed the
dismissal, albeit on the grounds that the individual creditor
 plaintiffs claims are preempted by the Bankruptcy Codes safe
 harbor for securities transactions.  The individual creditor
 plaintiffs petitioned the United States Supreme Court for review
of the Second Circuits decision.  Then the individual creditor
plaintiffs moved the Second Circuit to review its prior ruling
in light of the Supreme Courts decision in
Merit Mgmt. Grp., LP v. FTI Consulting, Inc., 138 S. Ct. 883,
(2018) (an unrelated case) regarding the scope of the Bankruptcy
Codes safe harbor for  securities transactions.  The Second Circuit
 agreed to review its prior ruling, and, as a result, the Supreme
 Court dismissed the individual creditor plaintiffs petition for
 certiorari.  On December 19, 2019, the Second Circuit again
 affirmed the District Courts dismissal of the Individual Creditor
 Actions on the grounds that the individual creditor plaintiffs claims
 are preempted and barred by the Bankruptcy Codes safe harbor for
securities transactions, notwithstanding the Merit Mgmt.
decision.  The individual creditor plaintiffs moved the
Second Circuit for rehearing, which the Second Circuit
denied.  The individual creditor plaintiffs then filed
a second petition for certiorari with the Supreme Court.
  On April 19, 2021, the Supreme Court denied the
individual creditor plaintiffs petition for certiorari,
meaning that the Individual Creditor Actions are fully
and finally dismissed.  On January 6, 2017, the District
Court entered an order dismissing the Committee
 Action with prejudice, holding that the Trustee failed
 to plead facts sufficient to state a claim against the
 shareholder defendants for intentional fraudulent transfer.
  The Trustee has appealed the dismissal Order to the
  Second Circuit.  Additionally, the Trustee requested
  leave from the District Court to file an amended complaint to
 assert new claims against the shareholder defendants in
 light of the Merit Mgmt. decision; however, the District
 Court denied the motion to amend, determining, among
 other things, that amendment would be futile because the
 Trustees proposed constructive
 fraudulent transfer claims are barred by the safe harbor,
 notwithstanding the Merit Mgmt. decision.  The Trustee
 appealed the denial of the motion to amend to the
 Second Circuit.  On August 20, 2021, the Second Circuit
 affirmed the District Courts dismissal of the Trustees claims
 against the Tribune shareholder defendants and affirmed the
 District Courts denial of the Trustees motion for leave to amend.
  The Trustee petitioned the Second Circuit for rehearing,
  which the Second Circuit denied.  The deadline for the
  Trustee to file a petition for certiorari with the Supreme
 Court is January 5, 2022.The potential exposure the SP 500
 Index Fund faces is the amount it received in connection
 with the Tribune leveraged buyout, together with interest and costs.
Given the number of unknowns at this stage of the litigation, it
is not possible to predict the likely outcome of the Tribune MDL.
      Nine West Litigation
      Nationwide Small Cap Index Fund and Nationwide U.S. Small
	  Cap Value Fund (the NMF Nine West Defendants), series of
	  NMF, have been named as defendants in the multi-district
	  litigation pending in the District Court captioned In re Nine
West LBO Securities Litigation, No. 20-md-02941 (the Nine West MDL).
  The Nine West MDL arises from the 2014 leveraged buyout
  (the Jones Group LBO) of The Jones
 Group Inc. (Jones Group), which later was renamed Nine West Holdings,
 Inc. (Nine West), and Nine Wests subsequent bankruptcy and
 reorganization.
      In connection with the Jones Group LBO, hundreds of
	  Jones Group shareholders,
 including the NMF Nine West Defendants, sold Jones Group
 shares back to Jones Group.  According to the Complaint
 against the NMF Nine West Defendants in the Nine West MDL,
 Nationwide Small Cap Index Fund is alleged to have received
 554,400.00 in exchange for the shares it tendered in the Jones
 Group LBO, and Nationwide U.S. Small Cap Value
 Fund is alleged to have received 237,615.00 in the Jones Group LBO.
      The Nine West MDL includes a series of lawsuits brought
	  by the trustee of a litigation trust to whom Nine Wests
	  committee of unsecured creditors assigned claims
 and the indenture trustee for certain Notes issued by
 Jones Group and Nine West.  The lawsuits seek to unwind
 the Jones Group LBO stock repurchases as fraudulent
transfers and recover the stock repurchase proceeds
paid to the Jones Group shareholders who participated
in the Jones Group LBO, including the proceeds received by the NMF
 Nine West Defendants.
      The shareholder defendants, including the NMF Nine
	  West Defendants, moved to dismiss the claims against
	  them on the grounds that the claims are barred by the
Bankruptcy Codes safe harbor for securities transactions,
 and on August 27, 2020, the District Court granted the
 shareholder defendants motions, dismissing all claims
 against the shareholder defendants.  The plaintiffs appealed
 the District Courts  ruling to the Second Circuit.
 The appeal is fully briefed, and the parties await
the scheduling of oral argument.
      The potential exposure for the NMF Nine West
	  Defendants in the Nine West MDL
 is the respective amount each received in return
 for the Jones Group shares each
tendered in the Jones Group LBO, together with interest.
 Given the number of unknowns at this stage of the
 litigation, it is not possible to predict the likely
outcome of the Nine West MDL.

INTERNAL CONTROL RPT

Report of Independent Registered Public Accounting Firm

To the Board of Trustees of Nationwide Mutual Funds and
Shareholders of Nationwide AllianzGI
International Growth Fund, Nationwide American Century Small
Cap Income Fund, Nationwide Amundi Global High Yield Fund,
Nationwide Amundi Strategic Income Fund, Nationwide Bailard Cognitive
Value Fund, Nationwide Bailard International Equities Fund,
Nationwide Bailard Technology  Science Fund, Nationwide BNY
Mellon Disciplined Value Fund, Nationwide BNY Mellon Dynamic
U.S. Core Fund, Nationwide Bond Fund, Nationwide Bond Index Fund,
Nationwide Bond Portfolio, Nationwide Core Plus
Bond Fund, Nationwide Destination 2025 Fund, Nationwide
Destination 2030 Fund, Nationwide Destination 2035 Fund, Nationwide
Destination 2040 Fund, Nationwide Destination 2045 Fund,
Nationwide Destination 2050 Fund, Nationwide Destination 2055 Fund,
Nationwide Destination 2060 Fund, Nationwide Destination 2065 Fund,
Nationwide Destination Retirement Fund, Nationwide Diamond
Hill Large Cap Concentrated Fund, Nationwide Emerging Markets Debt
Fund, Nationwide Fund, Nationwide Geneva Mid Cap Growth Fund, Nationwide
 Geneva Small Cap Growth Fund, Nationwide Global Sustainable
Equity Fund, Nationwide Government Money Market Fund, Nationwide
GQG US Quality Equity Fund, Nationwide Inflation-Protected Securities
Fund, Nationwide International Index Fund, Nationwide
International Small Cap Fund, Nationwide Investor Destinations Aggressive
Fund, Nationwide Investor Destinations Conservative Fund, Nationwide
Investor Destinations Moderate Fund, Nationwide Investor
Destinations Moderately Aggressive Fund, Nationwide Investor
Destinations Moderately Conservative Fund, Nationwide Loomis All
Cap Growth Fund, Nationwide Loomis Core Bond Fund, Nationwide Loomis
Short Term Bond Fund, Nationwide Mid Cap Market Index Fund,
Nationwide Multi-Cap Portfolio, Nationwide NYSE Arca Tech 100
Index Fund, Nationwide SP 500 Index Fund, Nationwide Small Cap Index Fund,
Nationwide Small Company Growth Fund and Nationwide WCM
Focused Small Cap Fund.In planning and performing our audits of
the financial statements of each of the funds constituting
Nationwide Mutual Funds as listed in Appendix A (hereafter referred
 to as the Funds) as of and for the periods ended October 31, 2021,
 in accordance with the standards of the Public Company Accounting
Oversight Board (United States) (PCAOB), we considered the Funds
 internal control over financial reporting, including controls over
 safeguarding securities, as a basis for designing our auditing
procedures for the purpose of expressing our opinion on the financial
statements and to comply with
the requirements of Form N-CEN, but not for the purpose of expressing
an opinion on the effectiveness of the Funds internal control over
financial reporting.  Accordingly, we do not express an opinion on
the effectiveness of the Funds internal control over financial reporting.
The management of the Funds is responsible for establishing and
maintaining effective internal control over financial reporting.
 In fulfilling this responsibility, estimates and judgments by
 management are required to assess the expected benefits and related
 costs of controls. A companys internal control over financial
 reporting is a process designed to provide reasonable assurance
 regarding the reliability of financial reporting and the preparation
 of financial statements for external purposes in accordance
with generally accepted accounting principles.  A companys
internal control over financial reporting
includes those policies and procedures that (1) pertain to the
maintenance of records that, in reasonable
detail, accurately and fairly reflect the transactions and
dispositions of the assets of the company; (2)
provide reasonable assurance that transactions are recorded
as necessary to permit preparation of financial
statements in accordance with generally accepted accounting
principles, and that receipts and expenditures
of the company are being made only in accordance with authorizations
 of management and trustees of the
company; and (3) provide reasonable assurance regarding prevention
or timely detection of unauthorized
acquisition, use or disposition of a companys assets that could
have a material effect on the financial
statements. Because of its inherent limitations, internal control
over financial reporting may not prevent or detect
misstatements. Also, projections of any evaluation of effectiveness
 to future periods are subject to the risk that controls may become
 inadequate because of changes in conditions, or that the degree
 of compliance with the policies or procedures may deteriorate.
 A deficiency in internal control over financial reporting exists
 when the design or operation of a control does not allow management
 or employees, in the normal course of performing their
 assigned functions, to prevent or detect misstatements on a
 timely basis. A material weakness is a deficiency, or a
 combination of deficiencies, in internal control over financial
 reporting, such that there is a reasonable possibility that
a material misstatement of the companys annual or interim
financial statements will not be prevented or detected on a
timely basis.
Our consideration of the Funds internal control over financial
 reporting was for the limited purpose described
in the first paragraph and would not necessarily disclose all
deficiencies in internal control over financial
reporting that might be material weaknesses under standards
established by the PCAOB. However, we noted no
deficiencies in the Funds internal control over financial
reporting and its operation, including controls over
safeguarding securities, that we consider to be material
weaknesses as defined above as of October 31, 2021.
This report is intended solely for the information and use of
the Board of Trustees of Nationwide Mutual Funds
and the Securities and Exchange Commission and is not
intended to be and should not be used by anyone other
than these specified parties.


/s/PricewaterhouseCoopers LLP
Philadelphia, Pennsylvania
December 20, 2021







Appendix A
1. Nationwide AllianzGI International Growth Fund
2. Nationwide American Century Small Cap Income Fund
3. Nationwide Amundi Global High Yield Fund
4. Nationwide Amundi Strategic Income Fund
5. Nationwide Bailard Cognitive Value Fund
6. Nationwide Bailard International Equities Fund
7. Nationwide Bailard Technology  Science Fund
8. Nationwide BNY Mellon Disciplined Value Fund
9. Nationwide BNY Mellon Dynamic U.S. Core Fund
10. Nationwide Bond Fund
11. Nationwide Bond Index Fund
12. Nationwide Bond Portfolio 1
13. Nationwide Core Plus Bond Fund
14. Nationwide Destination 2025 Fund
15. Nationwide Destination 2030 Fund
16. Nationwide Destination 2035 Fund
17. Nationwide Destination 2040 Fund
18. Nationwide Destination 2045 Fund
19. Nationwide Destination 2050 Fund
20. Nationwide Destination 2055 Fund
21. Nationwide Destination 2060 Fund
22. Nationwide Destination 2065 Fund1
23. Nationwide Destination Retirement Fund
24. Nationwide Diamond Hill Large Cap Concentrated Fund
25. Nationwide Emerging Markets Debt Fund
26. Nationwide Fund
27. Nationwide Geneva Mid Cap Growth Fund
28. Nationwide Geneva Small Cap Growth Fund
29. Nationwide Global Sustainable Equity Fund
30. Nationwide Government Money Market Fund
31. Nationwide GQG US Quality Equity Fund 2
32. Nationwide Inflation-Protected Securities Fund
33. Nationwide International Index Fund
34. Nationwide International Small Cap Fund
35. Nationwide Investor Destinations Aggressive Fund
36. Nationwide Investor Destinations Conservative Fund
37. Nationwide Investor Destinations Moderate Fund
38. Nationwide Investor Destinations Moderately Aggressive Fund
39. Nationwide Investor Destinations Moderately Conservative Fund
40. Nationwide Loomis All Cap Growth Fund
41. Nationwide Loomis Core Bond Fund
42. Nationwide Loomis Short-Term Bond Fund
43. Nationwide Mid Cap Market Index Fund
44. Nationwide Multi-Cap Portfolio
45. Nationwide NYSE Arca Tech 100 Index Fund
46. Nationwide SP 500 Index Fund
47. Nationwide Small Cap Index Fund
48. Nationwide Small Company Growth Fund
49. Nationwide WCM Focused Small Cap Fund

1 March 15, 2021 (commencement of operations) through October 31, 2021
2 January 26, 2021 (commencement of operations) through October 31, 2021








2

FINANCIAL SUPPORT

Item G.1.a.ii. Provision of financial support
On June 2, 2021, Nationwide Retirement Solutions,
a wholly-owned subsidiary of NFSDI, made a 77,738
contribution to the International Growth to
offset capital losses due to the sale of securities.
See the International Growth Financial
Highlights for the impact on the total return of the Fund.