(Bloomberg) -- The passive pull is proving too strong topass up.

Nationwide Mutual Insurance Co. is launching three exchange-traded funds that use strategic betastrategies.

The new ETFs will aim to track risk-weighted indexesthat provide a “smoother ride” for investors, Chris Graham, chiefinvestment officer for Nationwide Funds, said in a phoneinterview.

In June, the Columbus, Ohio-based insurance and financialservices company held talks with Precidian Investments tolicense a type of active ETF that would keep its holdings hiddenand sought regulatory permission to launch an active fund using arival structure from Eaton Vance Corp.

Those efforts are still in the works, and the firm already hasactive mutual funds. This is its first foray into passive investing.

“If you believe in active we have active,” Graham said. “Ifyou want passive, this is a form of passive that’s a little moreexpensive than the market cap weighted indices, but we think thatthe value add makes sense.”

Nationwide, which is best known for its slogan “Nationwide is onyour side,” joins companies including Principal Financial GroupInc. that have pushed into the ETF market in recentyears.

San Antonio-based United Services Automobile Association filedfor permission to start a new line of ETFs earlier this year, and aPrudential Financial Inc. executive said Thursday they wouldconsider entering the smart-beta ETF market using strategies it’scurrently using at its quantitative asset manager QMA.

The new funds, which cost between 30 and 40 basis points, willaim to reduce volatility, with two tracking U.S. equities and thethird covering international stocks, according to a statementFriday. Looking to the future, Graham said the insurer isn’t set ondoing more ETFs.

“We’re not in an arms race to launch new products,” he said. “Ifthey are products that make a lot of sense then we’ll launch thoseto add value.”

Here are the names of the new funds:

Nationwide Maximum Diversification U.S. Core Equity ETF ( MXDU)Nationwide Risk-Based U.S. Equity ETF ( RBUS) Nationwide Risk-BasedInternational Equity ETF ( RBIN)

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