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.
Performance
NOBOX vs. TBIIX - Performance Comparison
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NOBOX vs. TBIIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NOBOX Northern Bond Index Fund | -0.03% | 6.14% | 0.82% | 4.86% | -13.84% | -2.10% | 7.20% | 8.73% | -0.17% | 3.60% |
TBIIX TIAA-CREF Bond Index Fund | -0.28% | 7.12% | 1.13% | 5.13% | -13.61% | -1.81% | 7.69% | 8.58% | -0.25% | 3.43% |
Returns By Period
In the year-to-date period, NOBOX achieves a -0.03% return, which is significantly higher than TBIIX's -0.28% return. Over the past 10 years, NOBOX has underperformed TBIIX with an annualized return of 1.23%, while TBIIX has yielded a comparatively higher 1.44% annualized return.
NOBOX
- 1D
- 0.22%
- 1M
- -1.40%
- YTD
- -0.03%
- 6M
- 0.78%
- 1Y
- 4.05%
- 3Y*
- 2.89%
- 5Y*
- -0.49%
- 10Y*
- 1.23%
TBIIX
- 1D
- 0.21%
- 1M
- -1.72%
- YTD
- -0.28%
- 6M
- 0.48%
- 1Y
- 3.67%
- 3Y*
- 3.26%
- 5Y*
- -0.12%
- 10Y*
- 1.44%
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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%.
Return for Risk
NOBOX vs. TBIIX — Risk / Return Rank
NOBOX
TBIIX
NOBOX vs. TBIIX - Risk-Adjusted Trends 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.
| NOBOX | TBIIX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.94 | 0.89 | +0.05 |
Sortino ratioReturn per unit of downside risk | 1.40 | 1.28 | +0.12 |
Omega ratioGain probability vs. loss probability | 1.17 | 1.16 | +0.02 |
Calmar ratioReturn relative to maximum drawdown | 1.77 | 1.80 | -0.03 |
Martin ratioReturn relative to average drawdown | 5.14 | 5.10 | +0.04 |
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 | TBIIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.94 | 0.89 | +0.05 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.08 | -0.02 | -0.06 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.25 | 0.29 | -0.04 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.59 | 0.54 | +0.05 |
Correlation
The correlation between NOBOX and TBIIX is 0.91, 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. TBIIX - Dividend Comparison
NOBOX's dividend yield for the trailing twelve months is around 3.97%, more than TBIIX's 3.51% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NOBOX Northern Bond Index Fund | 3.97% | 2.88% | 3.46% | 2.63% | 1.53% | 2.10% | 3.12% | 3.18% | 2.80% | 2.77% | 2.45% | 2.61% |
TBIIX TIAA-CREF Bond Index Fund | 3.51% | 3.73% | 3.14% | 2.44% | 2.11% | 2.07% | 3.17% | 2.82% | 2.46% | 2.44% | 2.31% | 2.61% |
Drawdowns
NOBOX vs. TBIIX - Drawdown Comparison
The maximum NOBOX drawdown since its inception was -20.03%, roughly equal to the maximum TBIIX drawdown of -19.33%. Use the drawdown chart below to compare losses from any high point for NOBOX and TBIIX.
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Drawdown Indicators
| NOBOX | TBIIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.03% | -19.33% | -0.70% |
Max Drawdown (1Y)Largest decline over 1 year | -2.80% | -2.83% | +0.03% |
Max Drawdown (5Y)Largest decline over 5 years | -19.15% | -18.68% | -0.47% |
Max Drawdown (10Y)Largest decline over 10 years | -20.03% | -19.33% | -0.70% |
Current DrawdownCurrent decline from peak | -5.99% | -4.15% | -1.84% |
Average DrawdownAverage peak-to-trough decline | -3.52% | -3.68% | +0.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.96% | 1.00% | -0.04% |
Volatility
NOBOX vs. TBIIX - Volatility Comparison
Northern Bond Index Fund (NOBOX) and TIAA-CREF Bond Index Fund (TBIIX) have volatilities of 1.61% and 1.61%, 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.
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Volatility by Period
| NOBOX | TBIIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.61% | 1.61% | 0.00% |
Volatility (6M)Calculated over the trailing 6-month period | 2.87% | 2.68% | +0.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.59% | 4.55% | +0.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.07% | 6.05% | +0.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.01% | 5.00% | +0.01% |