NOSGX vs. SWMCX

Last updated Apr 1, 2026

Compare and contrast key facts about Northern Small Cap Value Fund (NOSGX) and Schwab U.S. Mid-Cap Index Fund (SWMCX).

NOSGX is managed by Northern Funds. It was launched on Mar 31, 1994. SWMCX is managed by Charles Schwab. It was launched on Dec 20, 2017.

Performance

NOSGX vs. SWMCX - Performance Comparison

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

NOSGX vs. SWMCX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NOSGX Northern Small Cap Value Fund	2.19%	10.63%	2.60%	15.67%	-10.50%	26.17%	-2.29%	22.30%	-13.79%	-0.62%
SWMCX Schwab U.S. Mid-Cap Index Fund	-1.32%	10.54%	15.28%	17.20%	-17.31%	22.55%	17.03%	30.46%	-9.16%	0.40%

Returns By Period

In the year-to-date period, NOSGX achieves a 2.19% return, which is significantly higher than SWMCX's -1.32% return.

NOSGX

• 1D: -0.68%
• 1M: -5.95%
• YTD: 2.19%
• 6M: 4.99%
• 1Y: 20.27%
• 3Y*: 10.17%
• 5Y*: 4.96%
• 10Y*: 7.53%

SWMCX

• 1D: -0.70%
• 1M: -7.73%
• YTD: -1.32%
• 6M: -1.19%
• 1Y: 12.94%
• 3Y*: 12.30%
• 5Y*: 6.67%
• 10Y*: —

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

NOSGX vs. SWMCX - Expense Ratio Comparison

NOSGX has a 1.00% expense ratio, which is higher than SWMCX's 0.04% expense ratio.

NOSGX

Northern Small Cap Value Fund

SWMCX

Schwab U.S. Mid-Cap Index Fund

Return for Risk

NOSGX vs. SWMCX — Risk / Return Rank

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

NOSGX

NOSGX Risk / Return Rank: 49
NOSGX Sharpe Ratio Rank: 45
NOSGX Sortino Ratio Rank: 53
NOSGX Omega Ratio Rank: 45
NOSGX Calmar Ratio Rank: 50
NOSGX Martin Ratio Rank: 51

SWMCX

SWMCX Risk / Return Rank: 34
SWMCX Sharpe Ratio Rank: 32
SWMCX Sortino Ratio Rank: 33
SWMCX Omega Ratio Rank: 33
SWMCX Calmar Ratio Rank: 31
SWMCX Martin Ratio Rank: 39

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. SWMCX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Northern Small Cap Value Fund (NOSGX) and Schwab U.S. Mid-Cap Index Fund (SWMCX). 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.

	NOSGX	SWMCX	Difference
Sharpe ratio Return per unit of total volatility	0.90	0.72	+0.18
Sortino ratio Return per unit of downside risk	1.45	1.12	+0.32
Omega ratio Gain probability vs. loss probability	1.19	1.16	+0.03
Calmar ratio Return relative to maximum drawdown	1.21	0.86	+0.35
Martin ratio Return relative to average drawdown	4.99	4.04	+0.95
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NOSGX vs. SWMCX - Sharpe Ratio Comparison

The current NOSGX Sharpe Ratio is 0.90, which is comparable to the SWMCX Sharpe Ratio of 0.72. The chart below compares the historical Sharpe Ratios of NOSGX and SWMCX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	NOSGX	SWMCX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.90	0.72	+0.18
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.21	0.37	-0.16
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.31	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.38	0.45	-0.06

Correlation

The correlation between NOSGX and SWMCX is 0.87, 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

NOSGX vs. SWMCX - Dividend Comparison

NOSGX's dividend yield for the trailing twelve months is around 43.05%, more than SWMCX's 2.15% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NOSGX Northern Small Cap Value Fund	43.05%	43.99%	57.55%	6.99%	5.84%	16.35%	1.96%	7.08%	11.90%	9.76%	2.26%	4.50%
SWMCX Schwab U.S. Mid-Cap Index Fund	2.15%	2.13%	2.60%	1.49%	1.59%	2.93%	1.45%	2.44%	1.41%	0.00%	0.00%	0.00%

Drawdowns

NOSGX vs. SWMCX - Drawdown Comparison

The maximum NOSGX drawdown since its inception was -56.92%, which is greater than SWMCX's maximum drawdown of -40.34%. Use the drawdown chart below to compare losses from any high point for NOSGX and SWMCX.

Drawdown Indicators

	NOSGX	SWMCX	Difference
Max Drawdown Largest peak-to-trough decline	-56.92%	-40.34%	-16.58%
Max Drawdown (1Y) Largest decline over 1 year	-14.49%	-13.43%	-1.06%
Max Drawdown (5Y) Largest decline over 5 years	-28.34%	-26.09%	-2.25%
Max Drawdown (10Y) Largest decline over 10 years	-45.66%	—	—
Current Drawdown Current decline from peak	-7.81%	-8.15%	+0.34%
Average Drawdown Average peak-to-trough decline	-9.09%	-6.75%	-2.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.58%	2.87%	+0.71%

Volatility

NOSGX vs. SWMCX - Volatility Comparison

Northern Small Cap Value Fund (NOSGX) has a higher volatility of 5.43% compared to Schwab U.S. Mid-Cap Index Fund (SWMCX) at 4.80%. This indicates that NOSGX's price experiences larger fluctuations and is considered to be riskier than SWMCX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NOSGX	SWMCX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.43%	4.80%	+0.63%
Volatility (6M) Calculated over the trailing 6-month period	12.84%	10.19%	+2.65%
Volatility (1Y) Calculated over the trailing 1-year period	23.15%	18.96%	+4.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.92%	18.23%	+5.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.53%	20.76%	+3.77%