NOINX vs. NOIGX
NOINX (Northern International Equity Index Fund) and NOIGX (Northern International Equity Fund) are both Foreign Large Cap Equities funds from Northern Trust. Over the past 10 years, NOINX returned 9.55%/yr vs 9.55%/yr for NOIGX. Their 0.98 correlation means they have historically moved very closely together. NOINX charges 0.10%/yr vs 0.51%/yr for NOIGX.
Performance
NOINX vs. NOIGX - Performance Comparison
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Returns By Period
In the year-to-date period, NOINX achieves a 12.75% return, which is significantly lower than NOIGX's 14.08% return. Over a longer period, both investments have demonstrated similar performance, with their 10-year annualized returns being quite close: NOINX at 9.55% and NOIGX at 9.55%.
NOINX
- 1D
- 2.86%
- 1M
- 2.01%
- 6M
- 7.31%
- YTD
- 12.75%
- 1Y
- 26.27%
- 3Y*
- 16.56%
- 5Y*
- 9.58%
- 10Y*
- 9.55%
- ALL TIME*
- 6.32%
NOIGX
- 1D
- 2.68%
- 1M
- 3.24%
- 6M
- 8.97%
- YTD
- 14.08%
- 1Y
- 29.89%
- 3Y*
- 19.47%
- 5Y*
- 12.00%
- 10Y*
- 9.55%
- ALL TIME*
- 5.80%
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 |
NOINX vs. NOIGX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NOINX Northern International Equity Index Fund | 12.75% | 31.86% | 3.69% | 18.08% | -14.24% | 11.08% | 7.92% | 21.98% | -13.76% | 25.28% |
NOIGX Northern International Equity Fund | 14.08% | 37.46% | 4.73% | 19.04% | -11.87% | 15.14% | 1.69% | 16.60% | -15.11% | 22.90% |
Correlation
The correlation between NOINX and NOIGX is 0.98 - they have historically moved very closely together. At this level, their price movements offset little of one another.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.98 |
Correlation (3Y) Balances recent behavior with more history. | 0.97 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.98 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.98 |
Correlation (All Time) Calculated using the full available price history since Mar 23, 2005 | 0.98 |
The correlation between NOINX and NOIGX has been stable across timeframes, ranging from 0.97 to 0.98 - a consistent structural relationship.
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Return for Risk
NOINX vs. NOIGX — Risk / Return Rank
NOINX
NOIGX
NOINX vs. NOIGX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Northern International Equity Index Fund (NOINX) and Northern International Equity Fund (NOIGX). 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.
| NOINX | NOIGX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.36 | ||
| Sortino ratioReturn per unit of downside risk | -0.45 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.33 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 2.17 | 2.83 | -0.66 |
| Martin ratioReturn relative to average drawdown | 8.02 | 11.16 | -3.13 |
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Drawdowns
NOINX vs. NOIGX - Drawdown Comparison
The maximum NOINX drawdown since its inception was -61.10%, which is greater than NOIGX's maximum drawdown of -57.92%. Use the drawdown chart below to compare losses from any high point for NOINX and NOIGX.
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Drawdown Indicators
| NOINX | NOIGX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -61.10% | -57.92% | -3.18% |
Max Drawdown (1Y)Largest decline over 1 year | -11.12% | -10.02% | -1.10% |
Max Drawdown (3Y)Largest decline over 3 years | -13.73% | -12.93% | -0.80% |
Max Drawdown (5Y)Largest decline over 5 years | -29.34% | -27.48% | -1.86% |
Max Drawdown (10Y)Largest decline over 10 years | -33.69% | -40.06% | +6.37% |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -12.49% | -13.70% | +1.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.99% | 2.54% | +0.45% |
Volatility
NOINX vs. NOIGX - Volatility Comparison
Northern International Equity Index Fund (NOINX) has a higher volatility of 4.83% compared to Northern International Equity Fund (NOIGX) at 4.37%. This indicates that NOINX's price experiences larger fluctuations and is considered to be riskier than NOIGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NOINX | NOIGX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.83% | 4.37% | +0.46% |
Volatility (6M)Calculated over the trailing 6-month period | 14.43% | 13.55% | +0.88% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.54% | 15.62% | +0.92% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.20% | 15.73% | +0.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.26% | 16.23% | +0.03% |
NOINX vs. NOIGX - Expense Ratio Comparison
NOINX has a 0.10% expense ratio, which is lower than NOIGX's 0.51% expense ratio.
Dividends
NOINX vs. NOIGX - Dividend Comparison
NOINX's dividend yield for the trailing twelve months is around 3.17%, more than NOIGX's 0.68% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NOIGX Northern International Equity Fund | 0.68% | 0.78% | 4.50% | 5.79% | 2.94% | 3.20% | 5.86% | 3.83% | 2.71% | 1.21% | 1.57% | 2.02% |
NOINX Northern International Equity Index Fund | 3.17% | 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
With a correlation of 0.98, NOINX and NOIGX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
NOINX has higher volatility (4.83%) compared to NOIGX (4.37%). In terms of maximum drawdown, NOINX dropped -61.10% vs NOIGX's -57.92%.
NOIGX currently has the higher Sharpe Ratio (1.82 vs 1.46), 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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