AAUTX vs. NOIEX

Last updated Jun 3, 2026

AAUTX (Thrivent Large Cap Value Fund) and NOIEX (Northern Income Equity Fund) are both Large Cap Value Equities funds. Over the past 10 years, AAUTX returned 12.72%/yr vs 13.98%/yr for NOIEX. Their correlation of 0.86 suggests significant overlap in exposure. AAUTX charges 0.86%/yr vs 0.49%/yr for NOIEX.

Performance

AAUTX vs. NOIEX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Thrivent Large Cap Value Fund (AAUTX) and Northern Income Equity Fund (NOIEX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with AAUTX having a 12.37% return and NOIEX slightly lower at 12.36%. Over the past 10 years, AAUTX has underperformed NOIEX with an annualized return of 12.72%, while NOIEX has yielded a comparatively higher 13.98% annualized return.

AAUTX

• 1D: 0.00%
• 1M: 3.41%
• YTD: 12.37%
• 6M: 14.91%
• 1Y: 30.73%
• 3Y*: 21.93%
• 5Y*: 13.30%
• 10Y*: 12.72%

NOIEX

• 1D: 0.15%
• 1M: 4.98%
• YTD: 12.36%
• 6M: 13.15%
• 1Y: 31.03%
• 3Y*: 22.76%
• 5Y*: 14.11%
• 10Y*: 13.98%

*Multi-year figures are annualized to reflect compound growth (CAGR)

AAUTX vs. NOIEX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AAUTX Thrivent Large Cap Value Fund	12.37%	19.31%	21.28%	12.63%	-4.89%	31.65%	4.31%	23.66%	-8.82%	12.59%
NOIEX Northern Income Equity Fund	12.36%	18.81%	24.28%	19.56%	-13.34%	27.96%	11.03%	27.04%	-6.62%	20.22%

Correlation

The correlation between AAUTX and NOIEX is 0.71, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.71
Correlation (3Y) Calculated over the trailing 3-year period	0.77
Correlation (5Y) Calculated over the trailing 5-year period	0.84
Correlation (10Y) Calculated over the trailing 10-year period	0.86
Correlation (All Time) Calculated using the full available price history since Jun 21, 1996	0.86

The correlation between AAUTX and NOIEX shifts across timeframes, from 0.71 (1 year) to 0.86 (all time), reflecting how their relationship changes across market environments.

Return for Risk

AAUTX vs. NOIEX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AAUTX

AAUTX Risk / Return Rank: 87
AAUTX Sharpe Ratio Rank: 89
AAUTX Sortino Ratio Rank: 85
AAUTX Omega Ratio Rank: 80
AAUTX Calmar Ratio Rank: 91
AAUTX Martin Ratio Rank: 91

NOIEX

NOIEX Risk / Return Rank: 83
NOIEX Sharpe Ratio Rank: 85
NOIEX Sortino Ratio Rank: 80
NOIEX Omega Ratio Rank: 78
NOIEX Calmar Ratio Rank: 84
NOIEX Martin Ratio Rank: 90

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AAUTX vs. NOIEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Thrivent Large Cap Value Fund (AAUTX) and Northern Income Equity Fund (NOIEX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	AAUTX	NOIEX	Difference
Sharpe ratio Return per unit of total volatility	2.90	2.74	+0.16
Sortino ratio Return per unit of downside risk	4.02	3.79	+0.22
Omega ratio Gain probability vs. loss probability	1.53	1.51	+0.02
Calmar ratio Return relative to maximum drawdown	4.81	3.94	+0.87
Martin ratio Return relative to average drawdown	18.66	18.13	+0.53
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AAUTX vs. NOIEX - Sharpe Ratio Comparison

The current AAUTX Sharpe Ratio is 2.90, which is comparable to the NOIEX Sharpe Ratio of 2.74. The chart below compares the historical Sharpe Ratios of AAUTX and NOIEX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	AAUTX	NOIEX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.90	2.74	+0.16
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.84	0.87	-0.03
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.72	0.78	-0.06
Sharpe Ratio (All Time) Calculated using the full available price history	0.45	0.69	-0.24

Drawdowns

AAUTX vs. NOIEX - Drawdown Comparison

The maximum AAUTX drawdown since its inception was -54.34%, which is greater than NOIEX's maximum drawdown of -45.66%. Use the drawdown chart below to compare losses from any high point for AAUTX and NOIEX.

Drawdown Indicators

	AAUTX	NOIEX	Difference
Max Drawdown Largest peak-to-trough decline	-54.34%	-45.66%	-8.68%
Max Drawdown (1Y) Largest decline over 1 year	-6.48%	-8.39%	+1.91%
Max Drawdown (3Y) Largest decline over 3 years	-14.85%	-18.06%	+3.21%
Max Drawdown (5Y) Largest decline over 5 years	-18.71%	-21.89%	+3.18%
Max Drawdown (10Y) Largest decline over 10 years	-38.88%	-35.31%	-3.57%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-7.99%	-4.99%	-3.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.67%	1.82%	-0.15%

Volatility

AAUTX vs. NOIEX - Volatility Comparison

The current volatility for Thrivent Large Cap Value Fund (AAUTX) is 2.41%, while Northern Income Equity Fund (NOIEX) has a volatility of 2.73%. This indicates that AAUTX experiences smaller price fluctuations and is considered to be less risky than NOIEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AAUTX	NOIEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.41%	2.73%	-0.32%
Volatility (6M) Calculated over the trailing 6-month period	7.99%	8.74%	-0.75%
Volatility (1Y) Calculated over the trailing 1-year period	10.81%	11.80%	-0.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.84%	16.36%	-0.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.79%	17.96%	-0.17%

AAUTX vs. NOIEX - Expense Ratio Comparison

AAUTX has a 0.86% expense ratio, which is higher than NOIEX's 0.49% expense ratio.

Dividends

AAUTX vs. NOIEX - Dividend Comparison

AAUTX's dividend yield for the trailing twelve months is around 4.70%, less than NOIEX's 7.18% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AAUTX Thrivent Large Cap Value Fund	4.70%	5.28%	16.25%	3.22%	6.12%	7.62%	6.33%	1.52%	7.44%	1.08%	1.18%	0.00%
NOIEX Northern Income Equity Fund	7.18%	7.92%	6.11%	7.03%	5.44%	14.26%	7.67%	8.58%	15.73%	7.56%	3.02%	5.57%

Frequently Asked Questions

Can I hold both AAUTX and NOIEX in my portfolio?

AAUTX and NOIEX have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AAUTX or NOIEX?

NOIEX has higher volatility (2.73%) compared to AAUTX (2.41%). In terms of maximum drawdown, AAUTX dropped -54.34% vs NOIEX's -45.66%.

Which has better risk-adjusted returns?

AAUTX currently has the higher Sharpe Ratio (2.90 vs 2.74), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.