NOEQ vs. ESN

Last updated Jul 4, 2026

NOEQ (Northern Trust US Equity ETF) and ESN (Essential 40 Stock ETF) are both Large Cap Blend Equities funds. NOEQ is actively managed, while ESN is passively managed. Their correlation of 0.83 suggests significant overlap in exposure. NOEQ charges 0.12%/yr vs 0.70%/yr for ESN.

Performance

NOEQ vs. ESN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Northern Trust US Equity ETF (NOEQ) and Essential 40 Stock ETF (ESN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

NOEQ

• 1D: 0.21%
• 1M: 0.78%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

ESN

• 1D: 0.75%
• 1M: 2.47%
• 6M: 16.54%
• YTD: 16.95%
• 1Y: 24.36%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

NOEQ vs. ESN - Yearly Performance Comparison

	2026 (YTD)
NOEQ Northern Trust US Equity ETF	13.97%
ESN Essential 40 Stock ETF	15.50%

Correlation

The correlation between NOEQ and ESN is 0.83, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Mar 23, 2026	0.83

Return for Risk

NOEQ vs. ESN — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

NOEQ

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

ESN

ESN Risk / Return Rank: 89
ESN Sharpe Ratio Rank: 91
ESN Sortino Ratio Rank: 91
ESN Omega Ratio Rank: 88
ESN Calmar Ratio Rank: 86
ESN Martin Ratio Rank: 88

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

NOEQ vs. ESN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Northern Trust US Equity ETF (NOEQ) and Essential 40 Stock ETF (ESN). 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.

	NOEQ	ESN	Difference
Sharpe ratio: Return per unit of total volatility	—	2.57	—
Sortino ratio: Return per unit of downside risk	—	3.56	—
Omega ratio: Gain probability vs. loss probability	—	1.44	—
Calmar ratio: Return relative to maximum drawdown	—	3.97	—
Martin ratio: Return relative to average drawdown	—	15.49	—

Drawdowns

NOEQ vs. ESN - Drawdown Comparison

The maximum NOEQ drawdown since its inception was -3.70%, smaller than the maximum ESN drawdown of -13.60%. Use the drawdown chart below to compare losses from any high point for NOEQ and ESN.

Drawdown Indicators

	NOEQ	ESN	Difference
Max Drawdown Largest peak-to-trough decline	-3.70%	-13.60%	+9.90%
Max Drawdown (1Y) Largest decline over 1 year	—	-6.42%	—
Current Drawdown Current decline from peak	-0.63%	0.00%	-0.63%
Average Drawdown Average peak-to-trough decline	-0.80%	-1.85%	+1.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.64%	—

Volatility

Volatility by Period

	NOEQ	ESN	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	3.34%	—
Volatility (6M) Calculated over the trailing 6-month period	—	7.53%	—
Volatility (1Y) Calculated over the trailing 1-year period	13.60%	9.93%	+3.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.60%	13.21%	+0.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.60%	13.21%	+0.39%

NOEQ vs. ESN - Expense Ratio Comparison

NOEQ has a 0.12% expense ratio, which is lower than ESN's 0.70% expense ratio.

Dividends

NOEQ vs. ESN - Dividend Comparison

NOEQ's dividend yield for the trailing twelve months is around 0.17%, less than ESN's 0.78% yield.

Position	TTM	2025	2024
ESN Essential 40 Stock ETF	0.78%	0.91%	0.76%
NOEQ Northern Trust US Equity ETF	0.17%	0.00%	0.00%

Frequently Asked Questions

Can I hold both NOEQ and ESN in my portfolio?

NOEQ and ESN have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, NOEQ or ESN?

On fees, NOEQ is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, NOEQ or ESN?

NOEQ is cheaper with a 0.12% expense ratio, compared with 0.70% for ESN.

Which ETF pays a higher dividend yield, NOEQ or ESN?

ESN has the higher dividend yield at 0.78%, compared with 0.17% for NOEQ.

What is the main difference between NOEQ and ESN?

They also come from different issuers: Northern Trust and KKM Financial. Their fees differ too: 0.12% for NOEQ and 0.70% for ESN.