NOEMX vs. NOINX
NOEMX (Northern Emerging Markets Equity Index Fund) and NOINX (Northern International Equity Index Fund) are both mutual funds - NOEMX is a Emerging Markets Equities fund managed by Northern Trust, while NOINX is a Foreign Large Cap Equities fund managed by Northern Trust. Over the past 10 years, NOEMX returned 8.70%/yr vs 9.54%/yr for NOINX. Their 0.76 correlation means they have sometimes moved together and sometimes differently. NOEMX charges 0.22%/yr vs 0.10%/yr for NOINX.
Performance
NOEMX vs. NOINX - Performance Comparison
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Returns By Period
In the year-to-date period, NOEMX achieves a 19.50% return, which is significantly higher than NOINX's 12.01% return. Over the past 10 years, NOEMX has underperformed NOINX with an annualized return of 8.70%, while NOINX has yielded a comparatively higher 9.54% annualized return.
NOEMX
- 1D
- 3.34%
- 1M
- -0.97%
- 6M
- 10.87%
- YTD
- 19.50%
- 1Y
- 36.05%
- 3Y*
- 19.06%
- 5Y*
- 7.50%
- 10Y*
- 8.70%
- ALL TIME*
- 5.24%
NOINX
- 1D
- -0.66%
- 1M
- 1.34%
- 6M
- 5.98%
- YTD
- 12.01%
- 1Y
- 25.44%
- 3Y*
- 16.67%
- 5Y*
- 9.44%
- 10Y*
- 9.54%
- ALL TIME*
- 6.29%
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 |
NOEMX vs. NOINX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NOEMX Northern Emerging Markets Equity Index Fund | 19.50% | 33.67% | 7.10% | 9.20% | -20.53% | -3.36% | 17.63% | 18.32% | -15.04% | 37.34% |
NOINX Northern International Equity Index Fund | 12.01% | 31.86% | 3.69% | 18.08% | -14.24% | 11.08% | 7.92% | 21.98% | -13.76% | 25.28% |
Correlation
The correlation between NOEMX and NOINX is 0.61, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.61 |
Correlation (3Y) Balances recent behavior with more history. | 0.64 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.68 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.70 |
Correlation (All Time) Calculated using the full available price history since Apr 26, 2006 | 0.76 |
The correlation between NOEMX and NOINX shifts across timeframes, from 0.61 (1 year) to 0.76 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
NOEMX vs. NOINX — Risk / Return Rank
NOEMX
NOINX
NOEMX vs. NOINX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Northern Emerging Markets Equity Index Fund (NOEMX) and Northern International Equity Index Fund (NOINX). 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.
| NOEMX | NOINX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.20 | ||
| Sortino ratioReturn per unit of downside risk | +0.08 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.27 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 2.52 | 2.19 | +0.34 |
| Martin ratioReturn relative to average drawdown | 8.04 | 8.11 | -0.07 |
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Drawdowns
NOEMX vs. NOINX - Drawdown Comparison
The maximum NOEMX drawdown since its inception was -66.67%, which is greater than NOINX's maximum drawdown of -61.10%. Use the drawdown chart below to compare losses from any high point for NOEMX and NOINX.
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Drawdown Indicators
| NOEMX | NOINX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -66.67% | -61.10% | -5.57% |
Max Drawdown (1Y)Largest decline over 1 year | -14.01% | -11.12% | -2.89% |
Max Drawdown (3Y)Largest decline over 3 years | -16.34% | -13.73% | -2.61% |
Max Drawdown (5Y)Largest decline over 5 years | -34.60% | -29.34% | -5.26% |
Max Drawdown (10Y)Largest decline over 10 years | -39.49% | -33.69% | -5.80% |
Current DrawdownCurrent decline from peak | -8.30% | -0.66% | -7.64% |
Average DrawdownAverage peak-to-trough decline | -18.91% | -12.49% | -6.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.37% | 2.99% | +1.38% |
Volatility
NOEMX vs. NOINX - Volatility Comparison
Northern Emerging Markets Equity Index Fund (NOEMX) has a higher volatility of 10.03% compared to Northern International Equity Index Fund (NOINX) at 4.71%. This indicates that NOEMX's price experiences larger fluctuations and is considered to be riskier than NOINX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NOEMX | NOINX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.03% | 4.71% | +5.32% |
Volatility (6M)Calculated over the trailing 6-month period | 19.45% | 14.41% | +5.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.19% | 16.56% | +4.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.41% | 16.19% | +1.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.94% | 16.26% | +1.68% |
NOEMX vs. NOINX - Expense Ratio Comparison
NOEMX has a 0.22% expense ratio, which is higher than NOINX's 0.10% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
NOEMX vs. NOINX - Dividend Comparison
NOEMX's dividend yield for the trailing twelve months is around 2.12%, less than NOINX's 3.19% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NOEMX Northern Emerging Markets Equity Index Fund | 2.12% | 2.53% | 2.98% | 3.86% | 2.42% | 2.87% | 2.36% | 3.24% | 2.76% | 1.74% | 1.92% | 2.54% |
NOINX Northern International Equity Index Fund | 3.19% | 3.57% | 3.70% | 3.37% | 2.71% | 3.19% | 2.04% | 3.08% | 3.47% | 2.45% | 3.21% | 2.74% |
Frequently Asked Questions
NOEMX and NOINX have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NOEMX has higher volatility (10.03%) compared to NOINX (4.71%). In terms of maximum drawdown, NOEMX dropped -66.67% vs NOINX's -61.10%.
NOEMX currently has the higher Sharpe Ratio (1.67 vs 1.47), 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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