BBALX vs. NSRIX

Last updated Jun 5, 2026

BBALX (Northern Global Tactical Asset Allocation Fund) and NSRIX (Northern Global Sustainability Index Fund) are both mutual funds - BBALX is a Global Allocation fund managed by Northern Funds, while NSRIX is a Global Equities fund managed by Northern Funds. Over the past 10 years, BBALX returned 7.05%/yr vs 12.88%/yr for NSRIX. Their correlation of 0.94 suggests significant overlap in exposure. BBALX charges 0.26%/yr vs 0.29%/yr for NSRIX.

Performance

BBALX vs. NSRIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Northern Global Tactical Asset Allocation Fund (BBALX) and Northern Global Sustainability Index Fund (NSRIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BBALX achieves a 7.50% return, which is significantly lower than NSRIX's 8.86% return. Over the past 10 years, BBALX has underperformed NSRIX with an annualized return of 7.05%, while NSRIX has yielded a comparatively higher 12.88% annualized return.

BBALX

• 1D: -0.65%
• 1M: 1.96%
• YTD: 7.50%
• 6M: 8.03%
• 1Y: 17.99%
• 3Y*: 12.49%
• 5Y*: 5.75%
• 10Y*: 7.05%

NSRIX

• 1D: -0.91%
• 1M: 3.52%
• YTD: 8.86%
• 6M: 9.74%
• 1Y: 25.29%
• 3Y*: 19.88%
• 5Y*: 11.46%
• 10Y*: 12.88%

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

BBALX vs. NSRIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BBALX Northern Global Tactical Asset Allocation Fund	7.50%	14.74%	8.00%	10.74%	-12.79%	11.17%	6.45%	17.62%	-7.89%	14.18%
NSRIX Northern Global Sustainability Index Fund	8.86%	21.03%	17.02%	25.44%	-19.45%	24.60%	15.49%	28.29%	-7.65%	21.21%

Correlation

The correlation between BBALX and NSRIX is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.91
Correlation (3Y) Calculated over the trailing 3-year period	0.90
Correlation (5Y) Calculated over the trailing 5-year period	0.92
Correlation (10Y) Calculated over the trailing 10-year period	0.93
Correlation (All Time) Calculated using the full available price history since Mar 7, 2008	0.94

The correlation between BBALX and NSRIX has been stable across timeframes, ranging from 0.90 to 0.94 - a consistent structural relationship.

Return for Risk

BBALX vs. NSRIX — Risk / Return Rank

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

BBALX

BBALX Risk / Return Rank: 61
BBALX Sharpe Ratio Rank: 59
BBALX Sortino Ratio Rank: 59
BBALX Omega Ratio Rank: 60
BBALX Calmar Ratio Rank: 60
BBALX Martin Ratio Rank: 66

NSRIX

NSRIX Risk / Return Rank: 49
NSRIX Sharpe Ratio Rank: 48
NSRIX Sortino Ratio Rank: 48
NSRIX Omega Ratio Rank: 46
NSRIX Calmar Ratio Rank: 45
NSRIX Martin Ratio Rank: 56

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.

BBALX vs. NSRIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Northern Global Tactical Asset Allocation Fund (BBALX) and Northern Global Sustainability Index Fund (NSRIX). 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.

	BBALX	NSRIX	Difference
Sharpe ratio: Return per unit of total volatility	2.23	2.04	+0.19
Sortino ratio: Return per unit of downside risk	3.17	2.93	+0.24
Omega ratio: Gain probability vs. loss probability	1.42	1.37	+0.05
Calmar ratio: Return relative to maximum drawdown	2.93	2.53	+0.40
Martin ratio: Return relative to average drawdown	12.71	11.18	+1.54
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BBALX vs. NSRIX - Sharpe Ratio Comparison

The current BBALX Sharpe Ratio is 2.23, which is comparable to the NSRIX Sharpe Ratio of 2.04. The chart below compares the historical Sharpe Ratios of BBALX and NSRIX, 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

	BBALX	NSRIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.23	2.04	+0.19
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.59	0.70	-0.12
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.66	0.76	-0.09
Sharpe Ratio (All Time) Calculated using the full available price history	0.53	0.46	+0.08

Drawdowns

BBALX vs. NSRIX - Drawdown Comparison

The maximum BBALX drawdown since its inception was -33.24%, smaller than the maximum NSRIX drawdown of -55.30%. Use the drawdown chart below to compare losses from any high point for BBALX and NSRIX.

Drawdown Indicators

	BBALX	NSRIX	Difference
Max Drawdown Largest peak-to-trough decline	-33.24%	-55.30%	+22.06%
Max Drawdown (1Y) Largest decline over 1 year	-6.42%	-10.36%	+3.94%
Max Drawdown (3Y) Largest decline over 3 years	-9.72%	-17.58%	+7.86%
Max Drawdown (5Y) Largest decline over 5 years	-18.75%	-27.86%	+9.11%
Max Drawdown (10Y) Largest decline over 10 years	-26.33%	-33.66%	+7.33%
Current Drawdown Current decline from peak	-0.65%	-1.12%	+0.47%
Average Drawdown Average peak-to-trough decline	-5.49%	-8.45%	+2.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.46%	2.32%	-0.86%

Volatility

BBALX vs. NSRIX - Volatility Comparison

The current volatility for Northern Global Tactical Asset Allocation Fund (BBALX) is 2.52%, while Northern Global Sustainability Index Fund (NSRIX) has a volatility of 3.73%. This indicates that BBALX experiences smaller price fluctuations and is considered to be less risky than NSRIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BBALX	NSRIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.52%	3.73%	-1.21%
Volatility (6M) Calculated over the trailing 6-month period	6.84%	9.97%	-3.13%
Volatility (1Y) Calculated over the trailing 1-year period	8.44%	12.85%	-4.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.91%	16.46%	-6.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.68%	17.13%	-6.45%

BBALX vs. NSRIX - Expense Ratio Comparison

BBALX has a 0.26% expense ratio, which is lower than NSRIX's 0.29% expense ratio.

Dividends

BBALX vs. NSRIX - Dividend Comparison

BBALX's dividend yield for the trailing twelve months is around 2.71%, less than NSRIX's 5.20% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BBALX Northern Global Tactical Asset Allocation Fund	2.71%	3.11%	3.28%	3.72%	7.22%	4.57%	6.63%	2.15%	4.23%	3.26%	3.01%	4.20%
NSRIX Northern Global Sustainability Index Fund	5.20%	5.66%	5.55%	1.57%	1.90%	5.26%	1.62%	2.70%	3.46%	3.14%	3.46%	3.79%

Frequently Asked Questions

Can I hold both BBALX and NSRIX in my portfolio?

With a correlation of 0.91, BBALX and NSRIX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, BBALX or NSRIX?

NSRIX has higher volatility (3.73%) compared to BBALX (2.52%). In terms of maximum drawdown, BBALX dropped -33.24% vs NSRIX's -55.30%.

Which has better risk-adjusted returns?

BBALX currently has the higher Sharpe Ratio (2.23 vs 2.04), 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.