NCEGX vs. ^GSPC

Last updated Apr 2, 2026

Compare and contrast key facts about The North Country Large Cap Equity Fund (NCEGX) and S&P 500 Index (^GSPC).

NCEGX is managed by North Country Funds. It was launched on Mar 1, 2001.

Performance

NCEGX vs. ^GSPC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in The North Country Large Cap Equity Fund (NCEGX) and S&P 500 Index (^GSPC). The values are adjusted to include any dividend payments, if applicable.

NCEGX vs. ^GSPC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NCEGX The North Country Large Cap Equity Fund	-7.34%	13.28%	27.49%	24.09%	-20.58%	23.09%	24.54%	39.61%	-3.52%	23.81%
^GSPC S&P 500 Index	-3.95%	16.39%	23.31%	24.23%	-19.44%	26.89%	16.26%	28.88%	-6.24%	19.42%

Returns By Period

In the year-to-date period, NCEGX achieves a -7.34% return, which is significantly lower than ^GSPC's -3.95% return. Over the past 10 years, NCEGX has outperformed ^GSPC with an annualized return of 13.73%, while ^GSPC has yielded a comparatively lower 12.24% annualized return.

NCEGX

• 1D: 3.22%
• 1M: -5.17%
• YTD: -7.34%
• 6M: -6.04%
• 1Y: 11.38%
• 3Y*: 16.10%
• 5Y*: 9.24%
• 10Y*: 13.73%

^GSPC

• 1D: 0.72%
• 1M: -4.45%
• YTD: -3.95%
• 6M: -2.02%
• 1Y: 16.73%
• 3Y*: 16.96%
• 5Y*: 10.34%
• 10Y*: 12.24%

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

Return for Risk

NCEGX vs. ^GSPC — Risk / Return Rank

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

NCEGX

NCEGX Risk / Return Rank: 26
NCEGX Sharpe Ratio Rank: 21
NCEGX Sortino Ratio Rank: 23
NCEGX Omega Ratio Rank: 23
NCEGX Calmar Ratio Rank: 32
NCEGX Martin Ratio Rank: 31

^GSPC

^GSPC Risk / Return Rank: 67
^GSPC Sharpe Ratio Rank: 63
^GSPC Sortino Ratio Rank: 64
^GSPC Omega Ratio Rank: 69
^GSPC Calmar Ratio Rank: 60
^GSPC Martin Ratio Rank: 77

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.

NCEGX vs. ^GSPC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for The North Country Large Cap Equity Fund (NCEGX) and S&P 500 Index (^GSPC). 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.

	NCEGX	^GSPC	Difference
Sharpe ratio Return per unit of total volatility	0.65	0.92	-0.27
Sortino ratio Return per unit of downside risk	1.05	1.41	-0.37
Omega ratio Gain probability vs. loss probability	1.15	1.21	-0.07
Calmar ratio Return relative to maximum drawdown	1.04	1.41	-0.37
Martin ratio Return relative to average drawdown	3.88	6.61	-2.73
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NCEGX vs. ^GSPC - Sharpe Ratio Comparison

The current NCEGX Sharpe Ratio is 0.65, which is comparable to the ^GSPC Sharpe Ratio of 0.92. The chart below compares the historical Sharpe Ratios of NCEGX and ^GSPC, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	NCEGX	^GSPC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.65	0.92	-0.27
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.52	0.61	-0.10
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.74	0.68	+0.06
Sharpe Ratio (All Time) Calculated using the full available price history	0.42	0.46	-0.04

Correlation

The correlation between NCEGX and ^GSPC is 0.98, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Drawdowns

NCEGX vs. ^GSPC - Drawdown Comparison

The maximum NCEGX drawdown since its inception was -52.03%, smaller than the maximum ^GSPC drawdown of -56.78%. Use the drawdown chart below to compare losses from any high point for NCEGX and ^GSPC.

Drawdown Indicators

	NCEGX	^GSPC	Difference
Max Drawdown Largest peak-to-trough decline	-52.03%	-56.78%	+4.75%
Max Drawdown (1Y) Largest decline over 1 year	-11.84%	-12.14%	+0.30%
Max Drawdown (5Y) Largest decline over 5 years	-27.93%	-25.43%	-2.50%
Max Drawdown (10Y) Largest decline over 10 years	-29.26%	-33.92%	+4.66%
Current Drawdown Current decline from peak	-9.69%	-5.78%	-3.91%
Average Drawdown Average peak-to-trough decline	-9.91%	-10.75%	+0.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.18%	2.60%	+0.58%

Volatility

NCEGX vs. ^GSPC - Volatility Comparison

The North Country Large Cap Equity Fund (NCEGX) has a higher volatility of 5.83% compared to S&P 500 Index (^GSPC) at 5.37%. This indicates that NCEGX's price experiences larger fluctuations and is considered to be riskier than ^GSPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NCEGX	^GSPC	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.83%	5.37%	+0.46%
Volatility (6M) Calculated over the trailing 6-month period	10.05%	9.55%	+0.50%
Volatility (1Y) Calculated over the trailing 1-year period	18.24%	18.33%	-0.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.89%	16.90%	+0.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.63%	18.05%	+0.58%