Correlation
The correlation between NOIEX and SPHQ is 0.90, 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.
NOIEX vs. SPHQ
Compare and contrast key facts about Northern Income Equity Fund (NOIEX) and Invesco S&P 500® Quality ETF (SPHQ).
NOIEX is managed by Northern Funds. It was launched on Mar 31, 1994. SPHQ is a passively managed fund by Invesco that tracks the performance of the S&P 500 High Quality Rankings Index. It was launched on Dec 6, 2005.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: NOIEX or SPHQ.
Performance
NOIEX vs. SPHQ - Performance Comparison
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Key characteristics
NOIEX:
0.82
SPHQ:
0.92
NOIEX:
1.23
SPHQ:
1.38
NOIEX:
1.19
SPHQ:
1.19
NOIEX:
0.84
SPHQ:
0.96
NOIEX:
3.29
SPHQ:
3.96
NOIEX:
4.59%
SPHQ:
4.03%
NOIEX:
18.85%
SPHQ:
17.63%
NOIEX:
-45.66%
SPHQ:
-57.83%
NOIEX:
-2.96%
SPHQ:
-0.70%
Returns By Period
In the year-to-date period, NOIEX achieves a 1.87% return, which is significantly lower than SPHQ's 5.51% return. Over the past 10 years, NOIEX has underperformed SPHQ with an annualized return of 12.32%, while SPHQ has yielded a comparatively higher 13.60% annualized return.
NOIEX
1.87%
4.87%
-0.88%
15.25%
15.07%
16.67%
12.32%
SPHQ
5.51%
4.91%
2.17%
16.06%
16.44%
16.12%
13.60%
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NOIEX vs. SPHQ - Expense Ratio Comparison
NOIEX has a 0.49% expense ratio, which is higher than SPHQ's 0.15% expense ratio.
Risk-Adjusted Performance
NOIEX vs. SPHQ — Risk-Adjusted Performance Rank
NOIEX
SPHQ
NOIEX vs. SPHQ - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Northern Income Equity Fund (NOIEX) and Invesco S&P 500® Quality ETF (SPHQ). 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.
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Dividends
NOIEX vs. SPHQ - Dividend Comparison
NOIEX's dividend yield for the trailing twelve months is around 5.95%, more than SPHQ's 1.09% yield.
| TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NOIEX Northern Income Equity Fund | 5.95% | 6.11% | 7.01% | 5.41% | 14.43% | 7.67% | 8.58% | 15.73% | 7.56% | 3.01% | 5.57% | 35.65% |
SPHQ Invesco S&P 500® Quality ETF | 1.09% | 1.15% | 1.42% | 1.85% | 1.19% | 1.55% | 1.51% | 1.85% | 1.57% | 1.67% | 2.29% | 1.66% |
Drawdowns
NOIEX vs. SPHQ - Drawdown Comparison
The maximum NOIEX drawdown since its inception was -45.66%, smaller than the maximum SPHQ drawdown of -57.83%. Use the drawdown chart below to compare losses from any high point for NOIEX and SPHQ.
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Volatility
NOIEX vs. SPHQ - Volatility Comparison
Northern Income Equity Fund (NOIEX) has a higher volatility of 4.99% compared to Invesco S&P 500® Quality ETF (SPHQ) at 4.31%. This indicates that NOIEX's price experiences larger fluctuations and is considered to be riskier than SPHQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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