BBALX vs. NOBOX
BBALX (Northern Global Tactical Asset Allocation Fund) and NOBOX (Northern Bond Index Fund) are both mutual funds - BBALX is a Global Allocation fund managed by Northern Trust, while NOBOX is a Intermediate Core Bond fund managed by Northern Trust. Over the past 10 years, BBALX returned 6.74%/yr vs 0.88%/yr for NOBOX. Their -0.01 correlation means they have often moved in opposite directions in the past. BBALX charges 0.26%/yr vs 0.07%/yr for NOBOX.
Performance
BBALX vs. NOBOX - Performance Comparison
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Returns By Period
In the year-to-date period, BBALX achieves a 7.57% return, which is significantly higher than NOBOX's -1.04% return. Over the past 10 years, BBALX has outperformed NOBOX with an annualized return of 6.74%, while NOBOX has yielded a comparatively lower 0.88% annualized return.
BBALX
- 1D
- 1.12%
- 1M
- 0.13%
- 6M
- 5.22%
- YTD
- 7.57%
- 1Y
- 15.06%
- 3Y*
- 11.22%
- 5Y*
- 5.70%
- 10Y*
- 6.74%
- ALL TIME*
- 5.75%
NOBOX
- 1D
- 0.00%
- 1M
- -0.87%
- 6M
- -1.25%
- YTD
- -1.04%
- 1Y
- 2.29%
- 3Y*
- 2.97%
- 5Y*
- -1.16%
- 10Y*
- 0.88%
- ALL TIME*
- 2.60%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
BBALX vs. NOBOX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BBALX Northern Global Tactical Asset Allocation Fund | 7.57% | 14.74% | 8.00% | 10.74% | -12.79% | 11.17% | 6.45% | 17.62% | -7.89% | 14.18% |
NOBOX Northern Bond Index Fund | -1.04% | 6.14% | 0.82% | 4.86% | -13.84% | -2.10% | 7.20% | 8.73% | -0.17% | 3.60% |
Correlation
The correlation between BBALX and NOBOX is 0.52, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.52 |
Correlation (3Y) Balances recent behavior with more history. | 0.46 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.40 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.19 |
Correlation (All Time) Calculated using the full available price history since Feb 28, 2007 | -0.01 |
The correlation between BBALX and NOBOX shifts across timeframes, from -0.01 (all time) to 0.52 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
BBALX vs. NOBOX — Risk / Return Rank
BBALX
NOBOX
BBALX vs. NOBOX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Northern Global Tactical Asset Allocation Fund (BBALX) and Northern Bond Index Fund (NOBOX). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| BBALX | NOBOX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.09 | ||
| Sortino ratioReturn per unit of downside risk | +1.49 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.10 | +0.20 |
| Calmar ratioReturn relative to maximum drawdown | 2.25 | 0.64 | +1.62 |
| Martin ratioReturn relative to average drawdown | 9.42 | 1.50 | +7.92 |
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Drawdowns
BBALX vs. NOBOX - Drawdown Comparison
The maximum BBALX drawdown since its inception was -33.24%, which is greater than NOBOX's maximum drawdown of -20.03%. Use the drawdown chart below to compare losses from any high point for BBALX and NOBOX.
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Drawdown Indicators
| BBALX | NOBOX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.24% | -20.03% | -13.21% |
Max Drawdown (1Y)Largest decline over 1 year | -6.42% | -3.28% | -3.14% |
Max Drawdown (3Y)Largest decline over 3 years | -9.72% | -5.20% | -4.52% |
Max Drawdown (5Y)Largest decline over 5 years | -18.75% | -19.15% | +0.40% |
Max Drawdown (10Y)Largest decline over 10 years | -26.33% | -20.03% | -6.30% |
Current DrawdownCurrent decline from peak | -0.58% | -6.94% | +6.36% |
Average DrawdownAverage peak-to-trough decline | -5.46% | -3.57% | -1.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.53% | 1.39% | +0.14% |
Volatility
BBALX vs. NOBOX - Volatility Comparison
Northern Global Tactical Asset Allocation Fund (BBALX) has a higher volatility of 2.27% compared to Northern Bond Index Fund (NOBOX) at 0.96%. This indicates that BBALX's price experiences larger fluctuations and is considered to be riskier than NOBOX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BBALX | NOBOX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.27% | 0.96% | +1.31% |
Volatility (6M)Calculated over the trailing 6-month period | 7.46% | 3.11% | +4.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.98% | 4.03% | +4.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.99% | 6.10% | +3.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.66% | 5.04% | +5.62% |
BBALX vs. NOBOX - Expense Ratio Comparison
BBALX has a 0.26% expense ratio, which is higher than NOBOX's 0.07% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
BBALX vs. NOBOX - Dividend Comparison
BBALX's dividend yield for the trailing twelve months is around 2.70%, less than NOBOX's 3.43% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BBALX Northern Global Tactical Asset Allocation Fund | 2.70% | 3.11% | 3.28% | 3.72% | 7.22% | 4.57% | 6.63% | 2.15% | 4.23% | 3.26% | 3.01% | 4.20% |
NOBOX Northern Bond Index Fund | 3.43% | 2.88% | 3.46% | 2.63% | 1.53% | 2.10% | 3.12% | 3.18% | 2.80% | 2.77% | 2.45% | 2.61% |
Frequently Asked Questions
BBALX and NOBOX have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BBALX has higher volatility (2.27%) compared to NOBOX (0.96%). In terms of maximum drawdown, BBALX dropped -33.24% vs NOBOX's -20.03%.
BBALX currently has the higher Sharpe Ratio (1.61 vs 0.52), 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.
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