NOBOX vs. NOLCX
NOBOX (Northern Bond Index Fund) and NOLCX (Northern Large Cap Core Fund) are both mutual funds - NOBOX is a Intermediate Core Bond fund managed by Northern Trust, while NOLCX is a Large Cap Blend Equities fund managed by Northern Trust. Over the past 10 years, NOBOX returned 0.88%/yr vs 14.56%/yr for NOLCX. Their -0.18 correlation means they have often moved in opposite directions in the past. NOBOX charges 0.07%/yr vs 0.45%/yr for NOLCX.
Performance
NOBOX vs. NOLCX - Performance Comparison
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Returns By Period
In the year-to-date period, NOBOX achieves a -1.04% return, which is significantly lower than NOLCX's 9.87% return. Over the past 10 years, NOBOX has underperformed NOLCX with an annualized return of 0.88%, while NOLCX has yielded a comparatively higher 14.56% annualized return.
NOBOX
- 1D
- 0.00%
- 1M
- -0.87%
- 6M
- -1.25%
- YTD
- -1.04%
- 1Y
- 2.29%
- 3Y*
- 2.97%
- 5Y*
- -1.16%
- 10Y*
- 0.88%
- ALL TIME*
- 2.60%
NOLCX
- 1D
- 1.70%
- 1M
- 0.70%
- 6M
- 8.54%
- YTD
- 9.87%
- 1Y
- 20.77%
- 3Y*
- 21.00%
- 5Y*
- 14.16%
- 10Y*
- 14.56%
- ALL TIME*
- 10.51%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
NOBOX vs. NOLCX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NOBOX Northern Bond Index Fund | -1.04% | 6.14% | 0.82% | 4.86% | -13.84% | -2.10% | 7.20% | 8.73% | -0.17% | 3.60% |
NOLCX Northern Large Cap Core Fund | 9.87% | 21.83% | 26.04% | 24.32% | -15.59% | 32.90% | 11.96% | 25.64% | -6.28% | 20.32% |
Correlation
The correlation between NOBOX and NOLCX is 0.32, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.32 |
Correlation (3Y) Balances recent behavior with more history. | 0.20 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.14 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.02 |
Correlation (All Time) Calculated using the full available price history since Feb 28, 2007 | -0.18 |
The correlation between NOBOX and NOLCX shifts across timeframes, from -0.18 (all time) to 0.32 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
NOBOX vs. NOLCX — Risk / Return Rank
NOBOX
NOLCX
NOBOX vs. NOLCX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Northern Bond Index Fund (NOBOX) and Northern Large Cap Core Fund (NOLCX). 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 | NOLCX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.12 | ||
| Sortino ratioReturn per unit of downside risk | -1.50 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.30 | -0.20 |
| Calmar ratioReturn relative to maximum drawdown | 0.64 | 2.54 | -1.90 |
| Martin ratioReturn relative to average drawdown | 1.50 | 10.81 | -9.31 |
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Drawdowns
NOBOX vs. NOLCX - Drawdown Comparison
The maximum NOBOX drawdown since its inception was -20.03%, smaller than the maximum NOLCX drawdown of -56.64%. Use the drawdown chart below to compare losses from any high point for NOBOX and NOLCX.
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Drawdown Indicators
| NOBOX | NOLCX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.03% | -56.64% | +36.61% |
Max Drawdown (1Y)Largest decline over 1 year | -3.28% | -8.20% | +4.92% |
Max Drawdown (3Y)Largest decline over 3 years | -5.20% | -19.03% | +13.83% |
Max Drawdown (5Y)Largest decline over 5 years | -19.15% | -30.63% | +11.48% |
Max Drawdown (10Y)Largest decline over 10 years | -20.03% | -34.46% | +14.43% |
Current DrawdownCurrent decline from peak | -6.94% | -1.25% | -5.69% |
Average DrawdownAverage peak-to-trough decline | -3.57% | -8.79% | +5.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.39% | 1.92% | -0.53% |
Volatility
NOBOX vs. NOLCX - Volatility Comparison
The current volatility for Northern Bond Index Fund (NOBOX) is 0.96%, while Northern Large Cap Core Fund (NOLCX) has a volatility of 3.52%. This indicates that NOBOX experiences smaller price fluctuations and is considered to be less risky than NOLCX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NOBOX | NOLCX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.96% | 3.52% | -2.56% |
Volatility (6M)Calculated over the trailing 6-month period | 3.11% | 9.62% | -6.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.03% | 12.70% | -8.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.10% | 19.17% | -13.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.04% | 19.25% | -14.21% |
NOBOX vs. NOLCX - Expense Ratio Comparison
NOBOX has a 0.07% expense ratio, which is lower than NOLCX's 0.45% expense ratio.
Dividends
NOBOX vs. NOLCX - Dividend Comparison
NOBOX's dividend yield for the trailing twelve months is around 3.43%, less than NOLCX's 7.79% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NOBOX Northern Bond Index Fund | 3.43% | 2.88% | 3.46% | 2.63% | 1.53% | 2.10% | 3.12% | 3.18% | 2.80% | 2.77% | 2.45% | 2.61% |
NOLCX Northern Large Cap Core Fund | 7.79% | 8.57% | 9.09% | 8.96% | 5.02% | 14.82% | 1.35% | 3.93% | 2.49% | 2.63% | 1.78% | 1.87% |
Frequently Asked Questions
NOBOX and NOLCX have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NOLCX has higher volatility (3.52%) compared to NOBOX (0.96%). In terms of maximum drawdown, NOBOX dropped -20.03% vs NOLCX's -56.64%.
NOLCX currently has the higher Sharpe Ratio (1.64 vs 0.52), 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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