NCGFX vs. NCICX
NCGFX (New Covenant Growth Fund) and NCICX (New Covenant Income Fund) are both mutual funds - NCGFX is a Large Cap Blend Equities fund managed by New Covenant, while NCICX is a Short-Term Bond fund managed by New Covenant. Over the past 10 years, NCGFX returned 13.86%/yr vs 1.41%/yr for NCICX. At a correlation of -0.12, they often move in opposite directions. NCGFX charges 0.97%/yr vs 0.96%/yr for NCICX.
Performance
NCGFX vs. NCICX - Performance Comparison
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Returns By Period
In the year-to-date period, NCGFX achieves a 10.10% return, which is significantly higher than NCICX's -0.01% return. Over the past 10 years, NCGFX has outperformed NCICX with an annualized return of 13.86%, while NCICX has yielded a comparatively lower 1.41% annualized return.
NCGFX
- 1D
- 1.14%
- 1M
- 0.81%
- YTD
- 10.10%
- 6M
- 9.28%
- 1Y
- 26.47%
- 3Y*
- 19.29%
- 5Y*
- 11.18%
- 10Y*
- 13.86%
NCICX
- 1D
- 0.19%
- 1M
- 0.47%
- YTD
- -0.01%
- 6M
- 0.30%
- 1Y
- 4.10%
- 3Y*
- 4.14%
- 5Y*
- 0.22%
- 10Y*
- 1.41%
NCGFX vs. NCICX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NCGFX New Covenant Growth Fund | 10.10% | 15.84% | 22.15% | 25.24% | -19.62% | 20.69% | 20.25% | 30.23% | -6.07% | 21.60% |
NCICX New Covenant Income Fund | -0.01% | 7.13% | 2.13% | 5.15% | -11.32% | -2.06% | 5.93% | 7.16% | -0.10% | 2.51% |
Correlation
The correlation between NCGFX and NCICX is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.29 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.20 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.16 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.03 |
Correlation (All Time) Calculated using the full available price history since Jun 30, 1999 | -0.12 |
The correlation between NCGFX and NCICX shifts across timeframes, from -0.12 (all time) to 0.29 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
NCGFX vs. NCICX — Risk / Return Rank
NCGFX
NCICX
NCGFX vs. NCICX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for New Covenant Growth Fund (NCGFX) and New Covenant Income Fund (NCICX). 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.
| NCGFX | NCICX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.75 | ||
| Sortino ratioReturn per unit of downside risk | +0.84 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.23 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | 2.82 | 1.68 | +1.14 |
| Martin ratioReturn relative to average drawdown | 12.39 | 4.72 | +7.67 |
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Drawdowns
NCGFX vs. NCICX - Drawdown Comparison
The maximum NCGFX drawdown since its inception was -55.18%, which is greater than NCICX's maximum drawdown of -21.12%. Use the drawdown chart below to compare losses from any high point for NCGFX and NCICX.
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Drawdown Indicators
| NCGFX | NCICX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.18% | -21.12% | -34.06% |
Max Drawdown (1Y)Largest decline over 1 year | -9.31% | -2.51% | -6.80% |
Max Drawdown (3Y)Largest decline over 3 years | -25.32% | -4.71% | -20.61% |
Max Drawdown (5Y)Largest decline over 5 years | -28.10% | -16.08% | -12.02% |
Max Drawdown (10Y)Largest decline over 10 years | -34.28% | -16.36% | -17.92% |
Current DrawdownCurrent decline from peak | -1.14% | -1.54% | +0.40% |
Average DrawdownAverage peak-to-trough decline | -11.45% | -2.55% | -8.90% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.12% | 0.89% | +1.23% |
Volatility
NCGFX vs. NCICX - Volatility Comparison
New Covenant Growth Fund (NCGFX) has a higher volatility of 4.84% compared to New Covenant Income Fund (NCICX) at 1.12%. This indicates that NCGFX's price experiences larger fluctuations and is considered to be riskier than NCICX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NCGFX | NCICX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.84% | 1.12% | +3.72% |
Volatility (6M)Calculated over the trailing 6-month period | 10.21% | 2.47% | +7.74% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.89% | 3.27% | +9.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.60% | 4.82% | +13.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.01% | 3.80% | +15.21% |
NCGFX vs. NCICX - Expense Ratio Comparison
NCGFX has a 0.97% expense ratio, which is higher than NCICX's 0.96% expense ratio.
Dividends
NCGFX vs. NCICX - Dividend Comparison
NCGFX's dividend yield for the trailing twelve months is around 8.78%, more than NCICX's 3.28% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NCGFX New Covenant Growth Fund | 8.78% | 9.67% | 10.12% | 6.81% | 1.61% | 1.45% | 4.07% | 5.55% | 8.44% | 6.54% | 0.66% | 7.83% |
NCICX New Covenant Income Fund | 3.28% | 3.24% | 3.17% | 2.79% | 1.51% | 1.46% | 3.17% | 2.43% | 2.26% | 1.92% | 1.72% | 1.80% |
Frequently Asked Questions
NCGFX and NCICX have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NCGFX has higher volatility (4.84%) compared to NCICX (1.12%). In terms of maximum drawdown, NCGFX dropped -55.18% vs NCICX's -21.12%.
NCGFX currently has the higher Sharpe Ratio (2.04 vs 1.29), 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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