NCICX vs. TSDLX
NCICX (New Covenant Income Fund) and TSDLX (T. Rowe Price Short Duration Income Fund) are both Short-Term Bond funds. Over the past 5 years, NCICX returned 0.19%/yr vs 4.43%/yr for TSDLX. A 0.73 correlation means they provide meaningful diversification when combined. NCICX charges 0.96%/yr vs 0.40%/yr for TSDLX.
Performance
NCICX vs. TSDLX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, NCICX achieves a -0.20% return, which is significantly lower than TSDLX's 0.58% return.
NCICX
- 1D
- -0.19%
- 1M
- 0.28%
- YTD
- -0.20%
- 6M
- 0.16%
- 1Y
- 3.70%
- 3Y*
- 4.06%
- 5Y*
- 0.19%
- 10Y*
- 1.37%
TSDLX
- 1D
- -0.11%
- 1M
- 0.18%
- YTD
- 0.58%
- 6M
- 1.10%
- 1Y
- 4.13%
- 3Y*
- 8.60%
- 5Y*
- 4.43%
- 10Y*
- —
NCICX vs. TSDLX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
NCICX New Covenant Income Fund | -0.20% | 7.13% | 2.13% | 5.15% | -11.32% | -2.06% | 0.34% |
TSDLX T. Rowe Price Short Duration Income Fund | 0.58% | 7.65% | 10.89% | 9.91% | -5.69% | 0.77% | 0.10% |
Correlation
The correlation between NCICX and TSDLX is 0.65, 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 | 0.65 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.73 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.75 |
Correlation (All Time) Calculated using the full available price history since Dec 8, 2020 | 0.73 |
The correlation between NCICX and TSDLX shifts across timeframes, from 0.65 (1 year) to 0.75 (5 years), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
NCICX vs. TSDLX — Risk / Return Rank
NCICX
TSDLX
NCICX vs. TSDLX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for New Covenant Income Fund (NCICX) and T. Rowe Price Short Duration Income Fund (TSDLX). 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.
| NCICX | TSDLX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.20 | ||
| Sortino ratioReturn per unit of downside risk | -2.86 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.66 | -0.45 |
| Calmar ratioReturn relative to maximum drawdown | 1.56 | 3.48 | -1.92 |
| Martin ratioReturn relative to average drawdown | 4.36 | 14.52 | -10.16 |
Loading charts...
Drawdowns
NCICX vs. TSDLX - Drawdown Comparison
The maximum NCICX drawdown since its inception was -21.12%, which is greater than TSDLX's maximum drawdown of -7.86%. Use the drawdown chart below to compare losses from any high point for NCICX and TSDLX.
Loading charts...
Drawdown Indicators
| NCICX | TSDLX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.12% | -7.86% | -13.26% |
Max Drawdown (1Y)Largest decline over 1 year | -2.51% | -1.26% | -1.25% |
Max Drawdown (3Y)Largest decline over 3 years | -4.71% | -1.26% | -3.45% |
Max Drawdown (5Y)Largest decline over 5 years | -16.08% | -7.86% | -8.22% |
Max Drawdown (10Y)Largest decline over 10 years | -16.36% | — | — |
Current DrawdownCurrent decline from peak | -1.73% | -0.42% | -1.31% |
Average DrawdownAverage peak-to-trough decline | -2.55% | -1.50% | -1.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.90% | 0.30% | +0.60% |
Volatility
NCICX vs. TSDLX - Volatility Comparison
New Covenant Income Fund (NCICX) has a higher volatility of 1.05% compared to T. Rowe Price Short Duration Income Fund (TSDLX) at 0.57%. This indicates that NCICX's price experiences larger fluctuations and is considered to be riskier than TSDLX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| NCICX | TSDLX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.05% | 0.57% | +0.48% |
Volatility (6M)Calculated over the trailing 6-month period | 2.47% | 1.33% | +1.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.28% | 1.83% | +1.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.82% | 2.45% | +2.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.80% | 2.33% | +1.47% |
NCICX vs. TSDLX - Expense Ratio Comparison
NCICX has a 0.96% expense ratio, which is higher than TSDLX's 0.40% expense ratio.
Dividends
NCICX vs. TSDLX - Dividend Comparison
NCICX's dividend yield for the trailing twelve months is around 3.29%, less than TSDLX's 4.71% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NCICX New Covenant Income Fund | 3.29% | 3.24% | 3.17% | 2.79% | 1.51% | 1.46% | 3.17% | 2.43% | 2.26% | 1.92% | 1.72% | 1.80% |
TSDLX T. Rowe Price Short Duration Income Fund | 4.71% | 6.06% | 9.64% | 7.72% | 1.82% | 1.69% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
NCICX and TSDLX have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NCICX has higher volatility (1.05%) compared to TSDLX (0.57%). In terms of maximum drawdown, NCICX dropped -21.12% vs TSDLX's -7.86%.
TSDLX currently has the higher Sharpe Ratio (2.40 vs 1.20), 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.
Find the right allocation for NCICX and TSDLX
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer