NOMIX vs. NSIDX

Last updated Aug 1, 2026

NOMIX (Northern Mid Cap Index Fund) and NSIDX (Northern Small Cap Index Fund) are both mutual funds - NOMIX is a Mid Cap Blend Equities fund managed by Northern Trust, while NSIDX is a Small Cap Blend Equities fund managed by Northern Trust. Over the past 10 years, NOMIX returned 10.75%/yr vs 10.52%/yr for NSIDX. Their 0.95 correlation means they have historically moved very closely together. Both charge a 0.10% expense ratio.

Performance

NOMIX vs. NSIDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Northern Mid Cap Index Fund (NOMIX) and Northern Small Cap Index Fund (NSIDX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NOMIX achieves a 14.71% return, which is significantly lower than NSIDX's 19.46% return. Both investments have delivered pretty close results over the past 10 years, with NOMIX having a 10.75% annualized return and NSIDX not far behind at 10.52%.

NOMIX

• 1D: 0.80%
• 1M: -1.00%
• 6M: 10.26%
• YTD: 14.71%
• 1Y: 21.10%
• 3Y*: 12.84%
• 5Y*: 8.27%
• 10Y*: 10.75%
• ALL TIME*: 9.95%

NSIDX

• 1D: 1.37%
• 1M: -1.60%
• 6M: 13.37%
• YTD: 19.46%
• 1Y: 34.94%
• 3Y*: 15.26%
• 5Y*: 7.09%
• 10Y*: 10.52%
• ALL TIME*: 8.30%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
NOMIX Northern Mid Cap Index Fund	$0.00	$0.00	$0.00
NSIDX Northern Small Cap Index Fund	$0.00	$0.00	$0.00

NOMIX vs. NSIDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NOMIX Northern Mid Cap Index Fund	14.71%	7.45%	13.41%	16.43%	-13.42%	24.47%	13.59%	25.94%	-11.31%	16.06%
NSIDX Northern Small Cap Index Fund	19.46%	12.88%	11.45%	16.87%	-20.63%	14.38%	19.59%	25.22%	-11.33%	14.62%

Correlation

The correlation between NOMIX and NSIDX is 0.90, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.90
Correlation (3Y) Balances recent behavior with more history.	0.93
Correlation (5Y) Shows whether the relationship held over a longer period.	0.95
Correlation (10Y) Provides a long-term view across more market conditions.	0.95
Correlation (All Time) Calculated using the full available price history since Mar 23, 2005	0.95

The correlation between NOMIX and NSIDX has been stable across timeframes, ranging from 0.90 to 0.95 - a consistent structural relationship.

Return for Risk

NOMIX vs. NSIDX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

NOMIX

NOMIX Risk / Return Rank: 48
NOMIX Sharpe Ratio Rank: 37
NOMIX Sortino Ratio Rank: 40
NOMIX Omega Ratio Rank: 38
NOMIX Calmar Ratio Rank: 65
NOMIX Martin Ratio Rank: 61

NSIDX

NSIDX Risk / Return Rank: 76
NSIDX Sharpe Ratio Rank: 71
NSIDX Sortino Ratio Rank: 72
NSIDX Omega Ratio Rank: 65
NSIDX Calmar Ratio Rank: 86
NSIDX Martin Ratio Rank: 85

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

NOMIX vs. NSIDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Northern Mid Cap Index Fund (NOMIX) and Northern Small Cap Index Fund (NSIDX). 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.

	NOMIX	NSIDX	Difference
Sharpe ratio: Return per unit of total volatility	1.15	1.67	-0.52
Sortino ratio: Return per unit of downside risk	1.75	2.45	-0.70
Omega ratio: Gain probability vs. loss probability	1.22	1.29	-0.07
Calmar ratio: Return relative to maximum drawdown	2.18	3.05	-0.87
Martin ratio: Return relative to average drawdown	7.89	10.75	-2.86

NOMIX vs. NSIDX - Sharpe Ratio Comparison

The current NOMIX Sharpe Ratio is 1.15, which is lower than the NSIDX Sharpe Ratio of 1.67. The chart below compares the historical Sharpe Ratios of NOMIX and NSIDX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

NOMIX vs. NSIDX - Drawdown Comparison

The maximum NOMIX drawdown since its inception was -55.44%, smaller than the maximum NSIDX drawdown of -59.02%. Use the drawdown chart below to compare losses from any high point for NOMIX and NSIDX.

Drawdown Indicators

	NOMIX	NSIDX	Difference
Max Drawdown Largest peak-to-trough decline	-55.44%	-59.02%	+3.58%
Max Drawdown (1Y) Largest decline over 1 year	-8.84%	-10.97%	+2.13%
Max Drawdown (3Y) Largest decline over 3 years	-24.34%	-27.71%	+3.37%
Max Drawdown (5Y) Largest decline over 5 years	-27.65%	-32.89%	+5.24%
Max Drawdown (10Y) Largest decline over 10 years	-42.03%	-42.09%	+0.06%
Current Drawdown Current decline from peak	-2.21%	-2.53%	+0.32%
Average Drawdown Average peak-to-trough decline	-7.87%	-12.00%	+4.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.45%	3.11%	-0.66%

Volatility

NOMIX vs. NSIDX - Volatility Comparison

The current volatility for Northern Mid Cap Index Fund (NOMIX) is 3.48%, while Northern Small Cap Index Fund (NSIDX) has a volatility of 3.79%. This indicates that NOMIX experiences smaller price fluctuations and is considered to be less risky than NSIDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NOMIX	NSIDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.48%	3.79%	-0.31%
Volatility (6M) Calculated over the trailing 6-month period	12.72%	14.14%	-1.42%
Volatility (1Y) Calculated over the trailing 1-year period	16.77%	20.05%	-3.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.23%	24.20%	-2.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.76%	24.23%	-2.47%

NOMIX vs. NSIDX - Expense Ratio Comparison

Both NOMIX and NSIDX have an expense ratio of 0.10%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

NOMIX vs. NSIDX - Dividend Comparison

NOMIX's dividend yield for the trailing twelve months is around 6.04%, more than NSIDX's 1.32% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NOMIX Northern Mid Cap Index Fund	6.04%	6.93%	9.67%	8.01%	10.43%	10.30%	4.80%	2.21%	9.23%	7.46%	6.46%	8.25%
NSIDX Northern Small Cap Index Fund	1.32%	1.57%	6.72%	2.01%	6.38%	12.15%	3.52%	1.78%	12.16%	6.55%	4.06%	6.68%

Frequently Asked Questions

Can I hold both NOMIX and NSIDX in my portfolio?

NOMIX and NSIDX have a correlation of 0.90, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NOMIX or NSIDX?

NSIDX has higher volatility (3.79%) compared to NOMIX (3.48%). In terms of maximum drawdown, NOMIX dropped -55.44% vs NSIDX's -59.02%.

Which has better risk-adjusted returns?

NSIDX currently has the higher Sharpe Ratio (1.67 vs 1.15), 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.