NOBOX vs. PBDIX
Compare and contrast key facts about Northern Bond Index Fund (NOBOX) and T. Rowe Price QM U.S. Bond Index Fund (PBDIX).
NOBOX is managed by Northern Funds. It was launched on Feb 27, 2007. PBDIX is managed by T. Rowe Price.
Performance
NOBOX vs. PBDIX - Performance Comparison
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NOBOX vs. PBDIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NOBOX Northern Bond Index Fund | -0.24% | 6.14% | 0.82% | 4.86% | -13.84% | -2.10% | 7.20% | 8.73% | -0.17% | 3.60% |
PBDIX T. Rowe Price QM U.S. Bond Index Fund | -0.33% | 10.63% | 1.96% | 5.47% | -14.24% | -1.45% | 8.17% | 8.69% | -0.01% | 3.83% |
Returns By Period
In the year-to-date period, NOBOX achieves a -0.24% return, which is significantly higher than PBDIX's -0.33% return. Over the past 10 years, NOBOX has underperformed PBDIX with an annualized return of 1.21%, while PBDIX has yielded a comparatively higher 2.02% annualized return.
NOBOX
- 1D
- 0.44%
- 1M
- -2.03%
- YTD
- -0.24%
- 6M
- 0.78%
- 1Y
- 4.05%
- 3Y*
- 2.81%
- 5Y*
- -0.46%
- 10Y*
- 1.21%
PBDIX
- 1D
- 0.52%
- 1M
- -2.44%
- YTD
- -0.33%
- 6M
- 1.93%
- 1Y
- 7.31%
- 3Y*
- 4.79%
- 5Y*
- 0.69%
- 10Y*
- 2.02%
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NOBOX vs. PBDIX - Expense Ratio Comparison
NOBOX has a 0.07% expense ratio, which is lower than PBDIX's 0.23% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Return for Risk
NOBOX vs. PBDIX — Risk / Return Rank
NOBOX
PBDIX
NOBOX vs. PBDIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Northern Bond Index Fund (NOBOX) and T. Rowe Price QM U.S. Bond Index Fund (PBDIX). 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.
| NOBOX | PBDIX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.94 | 1.73 | -0.79 |
Sortino ratioReturn per unit of downside risk | 1.40 | 2.51 | -1.12 |
Omega ratioGain probability vs. loss probability | 1.17 | 1.31 | -0.14 |
Calmar ratioReturn relative to maximum drawdown | 1.61 | 2.64 | -1.04 |
Martin ratioReturn relative to average drawdown | 4.70 | 8.49 | -3.79 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| NOBOX | PBDIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.94 | 1.73 | -0.79 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.08 | 0.11 | -0.19 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.24 | 0.41 | -0.17 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.59 | 0.85 | -0.26 |
Correlation
The correlation between NOBOX and PBDIX is 0.88, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
NOBOX vs. PBDIX - Dividend Comparison
NOBOX's dividend yield for the trailing twelve months is around 3.98%, less than PBDIX's 7.42% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NOBOX Northern Bond Index Fund | 3.98% | 2.88% | 3.46% | 2.63% | 1.53% | 2.10% | 3.12% | 3.18% | 2.80% | 2.77% | 2.45% | 2.61% |
PBDIX T. Rowe Price QM U.S. Bond Index Fund | 7.42% | 7.33% | 4.48% | 3.49% | 2.01% | 1.84% | 3.59% | 3.18% | 2.94% | 2.75% | 2.82% | 2.99% |
Drawdowns
NOBOX vs. PBDIX - Drawdown Comparison
The maximum NOBOX drawdown since its inception was -20.03%, roughly equal to the maximum PBDIX drawdown of -19.20%. Use the drawdown chart below to compare losses from any high point for NOBOX and PBDIX.
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Drawdown Indicators
| NOBOX | PBDIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.03% | -19.20% | -0.83% |
Max Drawdown (1Y)Largest decline over 1 year | -2.80% | -2.94% | +0.14% |
Max Drawdown (5Y)Largest decline over 5 years | -19.15% | -19.10% | -0.05% |
Max Drawdown (10Y)Largest decline over 10 years | -20.03% | -19.20% | -0.83% |
Current DrawdownCurrent decline from peak | -6.19% | -2.44% | -3.75% |
Average DrawdownAverage peak-to-trough decline | -3.52% | -2.52% | -1.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.96% | 0.92% | +0.04% |
Volatility
NOBOX vs. PBDIX - Volatility Comparison
The current volatility for Northern Bond Index Fund (NOBOX) is 1.62%, while T. Rowe Price QM U.S. Bond Index Fund (PBDIX) has a volatility of 1.71%. This indicates that NOBOX experiences smaller price fluctuations and is considered to be less risky than PBDIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NOBOX | PBDIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.62% | 1.71% | -0.09% |
Volatility (6M)Calculated over the trailing 6-month period | 2.87% | 2.93% | -0.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.60% | 4.72% | -0.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.07% | 6.02% | +0.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.01% | 4.98% | +0.03% |