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 Quality Index. It was launched on Dec 6, 2005.
Performance
NOIEX vs. SPHQ - Performance Comparison
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NOIEX vs. SPHQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NOIEX Northern Income Equity Fund | -1.97% | 18.81% | 24.28% | 19.56% | -13.34% | 27.96% | 11.03% | 27.04% | -6.62% | 20.22% |
SPHQ Invesco S&P 500 Quality ETF | 1.46% | 13.25% | 25.44% | 24.83% | -15.76% | 28.03% | 17.36% | 33.64% | -7.10% | 19.10% |
Returns By Period
In the year-to-date period, NOIEX achieves a -1.97% return, which is significantly lower than SPHQ's 1.46% return. Over the past 10 years, NOIEX has underperformed SPHQ with an annualized return of 12.56%, while SPHQ has yielded a comparatively higher 13.63% annualized return.
NOIEX
- 1D
- 2.75%
- 1M
- -5.02%
- YTD
- -1.97%
- 6M
- 0.36%
- 1Y
- 19.24%
- 3Y*
- 18.41%
- 5Y*
- 12.13%
- 10Y*
- 12.56%
SPHQ
- 1D
- 0.89%
- 1M
- -5.57%
- YTD
- 1.46%
- 6M
- 3.57%
- 1Y
- 16.02%
- 3Y*
- 18.54%
- 5Y*
- 12.70%
- 10Y*
- 13.63%
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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.
Return for Risk
NOIEX vs. SPHQ — Risk / Return Rank
NOIEX
SPHQ
NOIEX vs. SPHQ - Risk-Adjusted Trends 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.
| NOIEX | SPHQ | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.04 | 0.94 | +0.10 |
Sortino ratioReturn per unit of downside risk | 1.62 | 1.44 | +0.17 |
Omega ratioGain probability vs. loss probability | 1.25 | 1.20 | +0.05 |
Calmar ratioReturn relative to maximum drawdown | 1.35 | 1.45 | -0.10 |
Martin ratioReturn relative to average drawdown | 6.27 | 6.35 | -0.08 |
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
| NOIEX | SPHQ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.04 | 0.94 | +0.10 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.75 | 0.78 | -0.03 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.70 | 0.77 | -0.06 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.66 | 0.50 | +0.16 |
Correlation
The correlation between NOIEX and SPHQ is 0.89, 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
NOIEX vs. SPHQ - Dividend Comparison
NOIEX's dividend yield for the trailing twelve months is around 8.14%, more than SPHQ's 1.18% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NOIEX Northern Income Equity Fund | 8.14% | 7.92% | 6.11% | 7.03% | 5.44% | 14.26% | 7.67% | 8.58% | 15.73% | 7.56% | 3.02% | 5.57% |
SPHQ Invesco S&P 500 Quality ETF | 1.18% | 1.09% | 1.15% | 1.42% | 1.85% | 1.19% | 1.55% | 1.51% | 1.85% | 1.57% | 1.67% | 2.29% |
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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Drawdown Indicators
| NOIEX | SPHQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.66% | -57.83% | +12.17% |
Max Drawdown (1Y)Largest decline over 1 year | -12.41% | -10.84% | -1.57% |
Max Drawdown (5Y)Largest decline over 5 years | -21.89% | -25.04% | +3.15% |
Max Drawdown (10Y)Largest decline over 10 years | -35.31% | -31.60% | -3.71% |
Current DrawdownCurrent decline from peak | -5.87% | -5.92% | +0.05% |
Average DrawdownAverage peak-to-trough decline | -5.01% | -10.78% | +5.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.75% | 2.48% | +0.27% |
Volatility
NOIEX vs. SPHQ - Volatility Comparison
The current volatility for Northern Income Equity Fund (NOIEX) is 5.04%, while Invesco S&P 500 Quality ETF (SPHQ) has a volatility of 5.32%. This indicates that NOIEX experiences smaller price fluctuations and is considered to be less risky than SPHQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NOIEX | SPHQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.04% | 5.32% | -0.28% |
Volatility (6M)Calculated over the trailing 6-month period | 9.39% | 9.67% | -0.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.24% | 17.13% | +2.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.37% | 16.40% | -0.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.94% | 17.81% | +0.13% |