NOBOX vs. TBIIX
Compare and contrast key facts about Northern Bond Index Fund (NOBOX) and TIAA-CREF Bond Index Fund (TBIIX).
NOBOX is managed by Northern Funds. It was launched on Feb 27, 2007. TBIIX is managed by TIAA Investments. It was launched on Sep 14, 2009.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: NOBOX or TBIIX.
Key characteristics
| NOBOX | TBIIX | |
|---|---|---|
| YTD Return | -1.57% | -1.40% |
| 1Y Return | 1.74% | 1.90% |
| 3Y Return (Ann) | -2.88% | -2.91% |
| 5Y Return (Ann) | 0.07% | 0.23% |
| 10Y Return (Ann) | 1.23% | 1.29% |
| Sharpe Ratio | 0.19 | 0.21 |
| Daily Std Dev | 6.71% | 6.65% |
| Max Drawdown | -18.64% | -18.42% |
| Current Drawdown | -11.47% | -11.06% |
Correlation
The correlation between NOBOX and TBIIX is 0.93, 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.
Performance
NOBOX vs. TBIIX - Performance Comparison
In the year-to-date period, NOBOX achieves a -1.57% return, which is significantly lower than TBIIX's -1.40% return. Both investments have delivered pretty close results over the past 10 years, with NOBOX having a 1.23% annualized return and TBIIX not far ahead at 1.29%. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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NOBOX vs. TBIIX - Expense Ratio Comparison
Both NOBOX and TBIIX have an expense ratio of 0.07%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Risk-Adjusted Performance
NOBOX vs. TBIIX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Northern Bond Index Fund (NOBOX) and TIAA-CREF Bond Index Fund (TBIIX). 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.
Dividends
NOBOX vs. TBIIX - Dividend Comparison
NOBOX's dividend yield for the trailing twelve months is around 3.47%, more than TBIIX's 3.14% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NOBOX Northern Bond Index Fund | 3.47% | 3.21% | 2.75% | 2.56% | 3.26% | 3.08% | 2.80% | 2.77% | 2.73% | 2.75% | 2.72% | 2.79% |
TBIIX TIAA-CREF Bond Index Fund | 3.14% | 2.91% | 2.62% | 2.24% | 3.76% | 2.65% | 2.47% | 2.46% | 2.33% | 2.43% | 2.26% | 1.94% |
Drawdowns
NOBOX vs. TBIIX - Drawdown Comparison
The maximum NOBOX drawdown since its inception was -18.64%, roughly equal to the maximum TBIIX drawdown of -18.42%. Use the drawdown chart below to compare losses from any high point for NOBOX and TBIIX. For additional features, visit the drawdowns tool.
Volatility
NOBOX vs. TBIIX - Volatility Comparison
Northern Bond Index Fund (NOBOX) and TIAA-CREF Bond Index Fund (TBIIX) have volatilities of 1.38% and 1.39%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.