NOEQ vs. GXLC

Last updated Jul 4, 2026

NOEQ (Northern Trust US Equity ETF) and GXLC (Global X U.S. 500 ETF) are both Large Cap Blend Equities funds. NOEQ is actively managed, while GXLC is passively managed. Their correlation of 0.88 suggests significant overlap in exposure. NOEQ charges 0.12%/yr vs 0.02%/yr for GXLC.

Performance

NOEQ vs. GXLC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Northern Trust US Equity ETF (NOEQ) and Global X U.S. 500 ETF (GXLC). 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*: —

GXLC

• 1D: -0.15%
• 1M: -1.00%
• 6M: 9.78%
• YTD: 9.85%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NOEQ vs. GXLC - Yearly Performance Comparison

	2026 (YTD)
NOEQ Northern Trust US Equity ETF	13.97%
GXLC Global X U.S. 500 ETF	15.55%

Correlation

The correlation between NOEQ and GXLC is 0.88, 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	0.88

Return for Risk

NOEQ vs. GXLC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Northern Trust US Equity ETF (NOEQ) and Global X U.S. 500 ETF (GXLC). 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.

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

Drawdowns

NOEQ vs. GXLC - Drawdown Comparison

The maximum NOEQ drawdown since its inception was -3.70%, smaller than the maximum GXLC drawdown of -9.08%. Use the drawdown chart below to compare losses from any high point for NOEQ and GXLC.

Drawdown Indicators

	NOEQ	GXLC	Difference
Max Drawdown Largest peak-to-trough decline	-3.70%	-9.08%	+5.38%
Current Drawdown Current decline from peak	-0.63%	-1.68%	+1.05%
Average Drawdown Average peak-to-trough decline	-0.80%	-1.57%	+0.77%

Volatility

Volatility by Period

	NOEQ	GXLC	Difference
Volatility (1Y) Calculated over the trailing 1-year period	13.60%	13.70%	-0.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.60%	13.70%	-0.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.60%	13.70%	-0.10%

NOEQ vs. GXLC - Expense Ratio Comparison

NOEQ has a 0.12% expense ratio, which is higher than GXLC's 0.02% 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

NOEQ vs. GXLC - Dividend Comparison

NOEQ's dividend yield for the trailing twelve months is around 0.17%, less than GXLC's 0.64% yield.

Position	TTM	2025
GXLC Global X U.S. 500 ETF	0.64%	0.30%
NOEQ Northern Trust US Equity ETF	0.17%	0.00%

Frequently Asked Questions

Can I hold both NOEQ and GXLC in my portfolio?

NOEQ and GXLC have a correlation of 0.88, 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 GXLC?

On fees, GXLC is cheaper at 0.02% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, NOEQ or GXLC?

GXLC is cheaper with a 0.02% expense ratio, compared with 0.12% for NOEQ.

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

GXLC has the higher dividend yield at 0.64%, compared with 0.17% for NOEQ.

What is the main difference between NOEQ and GXLC?

They also come from different issuers: Northern Trust and Global X. Their fees differ too: 0.12% for NOEQ and 0.02% for GXLC.