NOSGX vs. NTAUX

Last updated Jun 24, 2026

NOSGX (Northern Small Cap Value Fund) and NTAUX (Northern Tax-Advantaged U-S Fixed Income) are both mutual funds - NOSGX is a Small Cap Value Equities fund managed by Northern Funds, while NTAUX is a Ultrashort Bond fund managed by Northern Funds. Over the past 10 years, NOSGX returned 9.06%/yr vs 1.56%/yr for NTAUX. At a 0.01 correlation, their price movements are largely independent. NOSGX charges 1.00%/yr vs 0.25%/yr for NTAUX.

Performance

NOSGX vs. NTAUX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Northern Small Cap Value Fund (NOSGX) and Northern Tax-Advantaged U-S Fixed Income (NTAUX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NOSGX achieves a 18.41% return, which is significantly higher than NTAUX's 0.95% return. Over the past 10 years, NOSGX has outperformed NTAUX with an annualized return of 9.06%, while NTAUX has yielded a comparatively lower 1.56% annualized return.

NOSGX

• 1D: 0.42%
• 1M: 3.39%
• YTD: 18.41%
• 6M: 16.21%
• 1Y: 35.48%
• 3Y*: 15.74%
• 5Y*: 7.67%
• 10Y*: 9.06%

NTAUX

• 1D: 0.00%
• 1M: 0.56%
• YTD: 0.95%
• 6M: 0.95%
• 1Y: 2.82%
• 3Y*: 3.09%
• 5Y*: 1.85%
• 10Y*: 1.56%

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

NOSGX vs. NTAUX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NOSGX Northern Small Cap Value Fund	18.41%	10.63%	2.60%	15.67%	-10.50%	26.17%	-2.29%	22.30%	-13.79%	6.47%
NTAUX Northern Tax-Advantaged U-S Fixed Income	0.95%	2.60%	3.52%	4.06%	-1.59%	-0.03%	1.49%	2.52%	1.39%	0.83%

Correlation

The correlation between NOSGX and NTAUX is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.25
Correlation (3Y) Calculated over the trailing 3-year period	0.13
Correlation (5Y) Calculated over the trailing 5-year period	0.11
Correlation (10Y) Calculated over the trailing 10-year period	0.04
Correlation (All Time) Calculated using the full available price history since Jun 25, 2009	0.01

Over the past year, NOSGX and NTAUX have become more correlated (0.25) than their long-term average of 0.01, meaning their price movements have been converging.

Return for Risk

NOSGX vs. NTAUX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

NOSGX

NOSGX Risk / Return Rank: 71
NOSGX Sharpe Ratio Rank: 61
NOSGX Sortino Ratio Rank: 67
NOSGX Omega Ratio Rank: 55
NOSGX Calmar Ratio Rank: 89
NOSGX Martin Ratio Rank: 84

NTAUX

NTAUX Risk / Return Rank: 90
NTAUX Sharpe Ratio Rank: 86
NTAUX Sortino Ratio Rank: 98
NTAUX Omega Ratio Rank: 98
NTAUX Calmar Ratio Rank: 89
NTAUX Martin Ratio Rank: 78

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

NOSGX vs. NTAUX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Northern Small Cap Value Fund (NOSGX) and Northern Tax-Advantaged U-S Fixed Income (NTAUX). 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.

	NOSGX	NTAUX	Difference
Sharpe ratio: Return per unit of total volatility	2.12	2.61	-0.48
Sortino ratio: Return per unit of downside risk	3.12	5.75	-2.63
Omega ratio: Gain probability vs. loss probability	1.38	2.24	-0.86
Calmar ratio: Return relative to maximum drawdown	4.22	4.21	+0.01
Martin ratio: Return relative to average drawdown	14.61	13.60	+1.01

NOSGX vs. NTAUX - Sharpe Ratio Comparison

The current NOSGX Sharpe Ratio is 2.12, which is comparable to the NTAUX Sharpe Ratio of 2.61. The chart below compares the historical Sharpe Ratios of NOSGX and NTAUX, 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

NOSGX vs. NTAUX - Drawdown Comparison

The maximum NOSGX drawdown since its inception was -56.92%, which is greater than NTAUX's maximum drawdown of -2.95%. Use the drawdown chart below to compare losses from any high point for NOSGX and NTAUX.

Drawdown Indicators

	NOSGX	NTAUX	Difference
Max Drawdown Largest peak-to-trough decline	-56.92%	-2.95%	-53.97%
Max Drawdown (1Y) Largest decline over 1 year	-9.07%	-0.68%	-8.39%
Max Drawdown (3Y) Largest decline over 3 years	-28.13%	-0.88%	-27.25%
Max Drawdown (5Y) Largest decline over 5 years	-28.34%	-2.94%	-25.40%
Max Drawdown (10Y) Largest decline over 10 years	-45.66%	-2.95%	-42.71%
Current Drawdown Current decline from peak	-0.17%	0.00%	-0.17%
Average Drawdown Average peak-to-trough decline	-9.04%	-0.20%	-8.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.60%	0.21%	+2.39%

Volatility

NOSGX vs. NTAUX - Volatility Comparison

Northern Small Cap Value Fund (NOSGX) has a higher volatility of 4.98% compared to Northern Tax-Advantaged U-S Fixed Income (NTAUX) at 0.38%. This indicates that NOSGX's price experiences larger fluctuations and is considered to be riskier than NTAUX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NOSGX	NTAUX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.98%	0.38%	+4.60%
Volatility (6M) Calculated over the trailing 6-month period	12.07%	0.80%	+11.27%
Volatility (1Y) Calculated over the trailing 1-year period	18.07%	1.11%	+16.96%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.82%	1.08%	+22.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.58%	0.97%	+23.61%

NOSGX vs. NTAUX - Expense Ratio Comparison

NOSGX has a 1.00% expense ratio, which is higher than NTAUX's 0.25% expense ratio.

Dividends

NOSGX vs. NTAUX - Dividend Comparison

NOSGX's dividend yield for the trailing twelve months is around 37.15%, more than NTAUX's 2.78% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NOSGX Northern Small Cap Value Fund	37.15%	43.99%	57.55%	6.99%	5.84%	16.35%	1.96%	7.08%	11.90%	9.76%	2.26%	4.50%
NTAUX Northern Tax-Advantaged U-S Fixed Income	2.78%	2.27%	3.15%	1.96%	0.68%	0.46%	1.09%	1.69%	1.38%	0.93%	0.81%	0.61%

Frequently Asked Questions

Can I hold both NOSGX and NTAUX in my portfolio?

NOSGX and NTAUX have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NOSGX or NTAUX?

NOSGX has higher volatility (4.98%) compared to NTAUX (0.38%). In terms of maximum drawdown, NOSGX dropped -56.92% vs NTAUX's -2.95%.

Which has better risk-adjusted returns?

NTAUX currently has the higher Sharpe Ratio (2.61 vs 2.12), 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.