NCICX vs. STBFX

Last updated Jun 3, 2026

NCICX (New Covenant Income Fund) and STBFX (Sextant Short Term Bond Fund) are both Short-Term Bond funds. A 0.58 correlation means they provide meaningful diversification when combined. NCICX charges 0.96%/yr vs 0.60%/yr for STBFX.

Performance

NCICX vs. STBFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in New Covenant Income Fund (NCICX) and Sextant Short Term Bond Fund (STBFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

NCICX

• 1D: -0.09%
• 1M: -0.05%
• YTD: 0.18%
• 6M: 0.35%
• 1Y: 4.79%
• 3Y*: 4.17%
• 5Y*: 0.21%
• 10Y*: 1.45%

STBFX

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NCICX vs. STBFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NCICX New Covenant Income Fund	0.18%	7.13%	2.13%	5.15%	-11.32%	-2.06%	5.93%	7.16%	-0.10%	2.51%
STBFX Sextant Short Term Bond Fund	0.28%	4.92%	3.87%	3.79%	-4.16%	-1.09%	3.42%	4.03%	1.09%	0.50%

Correlation

The correlation between NCICX and STBFX is 0.51, 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	0.51
Correlation (3Y) Calculated over the trailing 3-year period	0.57
Correlation (5Y) Calculated over the trailing 5-year period	0.65
Correlation (10Y) Calculated over the trailing 10-year period	0.60
Correlation (All Time) Calculated using the full available price history since Jul 1, 1999	0.58

The correlation between NCICX and STBFX shifts across timeframes, from 0.51 (1 year) to 0.65 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

NCICX vs. STBFX — Risk / Return Rank

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

NCICX

NCICX Risk / Return Rank: 25
NCICX Sharpe Ratio Rank: 23
NCICX Sortino Ratio Rank: 25
NCICX Omega Ratio Rank: 22
NCICX Calmar Ratio Rank: 28
NCICX Martin Ratio Rank: 24

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.

NCICX vs. STBFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for New Covenant Income Fund (NCICX) and Sextant Short Term Bond Fund (STBFX). 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.

	NCICX	STBFX	Difference
Sharpe ratio Return per unit of total volatility	1.39	—	—
Sortino ratio Return per unit of downside risk	2.11	—	—
Omega ratio Gain probability vs. loss probability	1.25	—	—
Calmar ratio Return relative to maximum drawdown	2.00	—	—
Martin ratio Return relative to average drawdown	6.14	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	NCICX	STBFX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.39	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.04	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.38	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.78	—	—

Drawdowns

Drawdown Indicators

	NCICX	STBFX	Difference
Max Drawdown Largest peak-to-trough decline	-21.12%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-2.51%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-4.71%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-16.08%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-16.36%	—	—
Current Drawdown Current decline from peak	-1.36%	—	—
Average Drawdown Average peak-to-trough decline	-2.55%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	0.82%	—	—

Volatility

Volatility by Period

	NCICX	STBFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.15%	—	—
Volatility (6M) Calculated over the trailing 6-month period	2.38%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	3.31%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.81%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.79%	—	—

NCICX vs. STBFX - Expense Ratio Comparison

NCICX has a 0.96% expense ratio, which is higher than STBFX's 0.60% expense ratio.

Dividends

NCICX vs. STBFX - Dividend Comparison

NCICX's dividend yield for the trailing twelve months is around 3.27%, more than STBFX's 2.61% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NCICX New Covenant Income Fund	3.27%	3.24%	3.17%	2.79%	1.51%	1.46%	3.17%	2.43%	2.26%	1.92%	1.72%	1.80%
STBFX Sextant Short Term Bond Fund	2.61%	3.17%	2.77%	1.84%	1.04%	1.07%	1.60%	1.75%	1.47%	1.30%	1.06%	1.07%

Frequently Asked Questions

Can I hold both NCICX and STBFX in my portfolio?

NCICX and STBFX have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.