NOBOX vs. DUTMX
NOBOX (Northern Bond Index Fund) and DUTMX (Dupree Taxable Municipal Bond Fund) are both Intermediate Core Bond funds. Over the past 10 years, NOBOX returned 1.04%/yr vs 0.39%/yr for DUTMX. Their correlation of 0.80 suggests significant overlap in exposure. NOBOX charges 0.07%/yr vs 1.00%/yr for DUTMX.
Performance
NOBOX vs. DUTMX - Performance Comparison
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Returns By Period
In the year-to-date period, NOBOX achieves a -0.28% return, which is significantly lower than DUTMX's 1.01% return. Over the past 10 years, NOBOX has outperformed DUTMX with an annualized return of 1.04%, while DUTMX has yielded a comparatively lower 0.39% annualized return.
NOBOX
- 1D
- -0.33%
- 1M
- 0.70%
- YTD
- -0.28%
- 6M
- -0.18%
- 1Y
- 3.90%
- 3Y*
- 3.07%
- 5Y*
- -0.76%
- 10Y*
- 1.04%
DUTMX
- 1D
- -0.54%
- 1M
- 1.34%
- YTD
- 1.01%
- 6M
- 1.56%
- 1Y
- 5.57%
- 3Y*
- 3.31%
- 5Y*
- -2.58%
- 10Y*
- 0.39%
NOBOX vs. DUTMX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NOBOX Northern Bond Index Fund | -0.28% | 6.14% | 0.82% | 4.86% | -13.84% | -2.10% | 7.20% | 8.73% | -0.17% | 3.60% |
DUTMX Dupree Taxable Municipal Bond Fund | 1.01% | 6.44% | 1.09% | 6.83% | -25.27% | 0.28% | 6.24% | 6.66% | 2.04% | 5.12% |
Correlation
The correlation between NOBOX and DUTMX is 0.71, 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 | 0.71 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.83 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.82 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.80 |
Correlation (All Time) Calculated using the full available price history since Nov 4, 2010 | 0.80 |
The correlation between NOBOX and DUTMX shifts across timeframes, from 0.71 (1 year) to 0.83 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
NOBOX vs. DUTMX — Risk / Return Rank
NOBOX
DUTMX
NOBOX vs. DUTMX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Northern Bond Index Fund (NOBOX) and Dupree Taxable Municipal Bond Fund (DUTMX). 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.
| NOBOX | DUTMX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.03 | ||
| Sortino ratioReturn per unit of downside risk | -0.01 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.19 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 1.28 | 1.46 | -0.18 |
| Martin ratioReturn relative to average drawdown | 3.57 | 4.26 | -0.70 |
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Drawdowns
NOBOX vs. DUTMX - Drawdown Comparison
The maximum NOBOX drawdown since its inception was -20.03%, smaller than the maximum DUTMX drawdown of -30.53%. Use the drawdown chart below to compare losses from any high point for NOBOX and DUTMX.
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Drawdown Indicators
| NOBOX | DUTMX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.03% | -30.53% | +10.50% |
Max Drawdown (1Y)Largest decline over 1 year | -3.28% | -4.05% | +0.77% |
Max Drawdown (3Y)Largest decline over 3 years | -6.27% | -7.80% | +1.53% |
Max Drawdown (5Y)Largest decline over 5 years | -19.15% | -30.53% | +11.38% |
Max Drawdown (10Y)Largest decline over 10 years | -20.03% | -30.53% | +10.50% |
Current DrawdownCurrent decline from peak | -6.23% | -14.69% | +8.46% |
Average DrawdownAverage peak-to-trough decline | -3.55% | -6.97% | +3.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.17% | 1.38% | -0.21% |
Volatility
NOBOX vs. DUTMX - Volatility Comparison
Northern Bond Index Fund (NOBOX) has a higher volatility of 1.30% compared to Dupree Taxable Municipal Bond Fund (DUTMX) at 1.21%. This indicates that NOBOX's price experiences larger fluctuations and is considered to be riskier than DUTMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NOBOX | DUTMX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.30% | 1.21% | +0.09% |
Volatility (6M)Calculated over the trailing 6-month period | 3.11% | 3.83% | -0.72% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.08% | 5.57% | -1.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.10% | 8.81% | -2.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.04% | 7.08% | -2.04% |
NOBOX vs. DUTMX - Expense Ratio Comparison
NOBOX has a 0.07% expense ratio, which is lower than DUTMX's 1.00% expense ratio.
Dividends
NOBOX vs. DUTMX - Dividend Comparison
NOBOX's dividend yield for the trailing twelve months is around 3.75%, less than DUTMX's 4.48% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DUTMX Dupree Taxable Municipal Bond Fund | 4.48% | 4.57% | 4.26% | 4.02% | 4.28% | 2.32% | 4.69% | 5.18% | 5.04% | 4.89% | 4.84% | 4.77% |
NOBOX Northern Bond Index Fund | 3.75% | 2.88% | 3.46% | 2.63% | 1.53% | 2.10% | 3.12% | 3.18% | 2.80% | 2.77% | 2.45% | 2.61% |
Frequently Asked Questions
NOBOX and DUTMX have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NOBOX has higher volatility (1.30%) compared to DUTMX (1.21%). In terms of maximum drawdown, NOBOX dropped -20.03% vs DUTMX's -30.53%.
DUTMX currently has the higher Sharpe Ratio (1.06 vs 1.03), 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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