NSBDX vs. NSMVX

Last updated Jun 5, 2026

NSBDX (North Star Bond Fund) and NSMVX (North Star Micro Cap Fund) are both mutual funds - NSBDX is a Nontraditional Bonds fund managed by North Star, while NSMVX is a Small Cap Blend Equities fund managed by North Star. Over the past 10 years, NSBDX returned 2.34%/yr vs 9.27%/yr for NSMVX. At a 0.46 correlation, their price movements are largely independent. NSBDX charges 1.63%/yr vs 1.30%/yr for NSMVX.

Performance

NSBDX vs. NSMVX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in North Star Bond Fund (NSBDX) and North Star Micro Cap Fund (NSMVX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NSBDX achieves a 0.99% return, which is significantly lower than NSMVX's 10.02% return. Over the past 10 years, NSBDX has underperformed NSMVX with an annualized return of 2.34%, while NSMVX has yielded a comparatively higher 9.27% annualized return.

NSBDX

• 1D: -0.11%
• 1M: 0.03%
• YTD: 0.99%
• 6M: 1.16%
• 1Y: 3.72%
• 3Y*: 4.52%
• 5Y*: 1.69%
• 10Y*: 2.34%

NSMVX

• 1D: -1.55%
• 1M: -1.01%
• YTD: 10.02%
• 6M: 10.75%
• 1Y: 17.80%
• 3Y*: 12.72%
• 5Y*: 0.78%
• 10Y*: 9.27%

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

NSBDX vs. NSMVX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NSBDX North Star Bond Fund	0.99%	3.67%	5.17%	6.07%	-7.23%	2.84%	0.71%	9.36%	-3.50%	3.03%
NSMVX North Star Micro Cap Fund	10.02%	-0.97%	15.30%	22.31%	-24.84%	14.12%	37.19%	19.52%	-13.50%	4.84%

Correlation

The correlation between NSBDX and NSMVX is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.49
Correlation (3Y) Calculated over the trailing 3-year period	0.45
Correlation (5Y) Calculated over the trailing 5-year period	0.54
Correlation (10Y) Calculated over the trailing 10-year period	0.48
Correlation (All Time) Calculated using the full available price history since Dec 23, 2014	0.46

The correlation between NSBDX and NSMVX has been stable across timeframes, ranging from 0.45 to 0.54 - a consistent structural relationship.

Return for Risk

NSBDX vs. NSMVX — Risk / Return Rank

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

NSBDX

NSBDX Risk / Return Rank: 41
NSBDX Sharpe Ratio Rank: 45
NSBDX Sortino Ratio Rank: 47
NSBDX Omega Ratio Rank: 55
NSBDX Calmar Ratio Rank: 25
NSBDX Martin Ratio Rank: 35

NSMVX

NSMVX Risk / Return Rank: 14
NSMVX Sharpe Ratio Rank: 14
NSMVX Sortino Ratio Rank: 15
NSMVX Omega Ratio Rank: 13
NSMVX Calmar Ratio Rank: 16
NSMVX Martin Ratio Rank: 14

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.

NSBDX vs. NSMVX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for North Star Bond Fund (NSBDX) and North Star Micro Cap Fund (NSMVX). 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.

	NSBDX	NSMVX	Difference
Sharpe ratio: Return per unit of total volatility	1.91	0.97	+0.94
Sortino ratio: Return per unit of downside risk	2.85	1.56	+1.28
Omega ratio: Gain probability vs. loss probability	1.40	1.18	+0.22
Calmar ratio: Return relative to maximum drawdown	1.82	1.35	+0.47
Martin ratio: Return relative to average drawdown	7.59	3.85	+3.74
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NSBDX vs. NSMVX - Sharpe Ratio Comparison

The current NSBDX Sharpe Ratio is 1.91, which is higher than the NSMVX Sharpe Ratio of 0.97. The chart below compares the historical Sharpe Ratios of NSBDX and NSMVX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	NSBDX	NSMVX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.91	0.97	+0.94
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.63	0.04	+0.59
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.60	0.46	+0.14
Sharpe Ratio (All Time) Calculated using the full available price history	0.59	0.45	+0.14

Drawdowns

NSBDX vs. NSMVX - Drawdown Comparison

The maximum NSBDX drawdown since its inception was -18.75%, smaller than the maximum NSMVX drawdown of -41.32%. Use the drawdown chart below to compare losses from any high point for NSBDX and NSMVX.

Drawdown Indicators

	NSBDX	NSMVX	Difference
Max Drawdown Largest peak-to-trough decline	-18.75%	-41.32%	+22.57%
Max Drawdown (1Y) Largest decline over 1 year	-2.12%	-12.98%	+10.86%
Max Drawdown (3Y) Largest decline over 3 years	-2.17%	-22.82%	+20.65%
Max Drawdown (5Y) Largest decline over 5 years	-8.88%	-40.82%	+31.94%
Max Drawdown (10Y) Largest decline over 10 years	-18.75%	-41.32%	+22.57%
Current Drawdown Current decline from peak	-0.52%	-1.99%	+1.47%
Average Drawdown Average peak-to-trough decline	-1.75%	-10.44%	+8.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.51%	4.54%	-4.03%

Volatility

NSBDX vs. NSMVX - Volatility Comparison

The current volatility for North Star Bond Fund (NSBDX) is 0.77%, while North Star Micro Cap Fund (NSMVX) has a volatility of 5.23%. This indicates that NSBDX experiences smaller price fluctuations and is considered to be less risky than NSMVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NSBDX	NSMVX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.77%	5.23%	-4.46%
Volatility (6M) Calculated over the trailing 6-month period	1.60%	11.92%	-10.32%
Volatility (1Y) Calculated over the trailing 1-year period	2.01%	18.05%	-16.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.69%	19.78%	-17.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.91%	20.12%	-16.21%

NSBDX vs. NSMVX - Expense Ratio Comparison

NSBDX has a 1.63% expense ratio, which is higher than NSMVX's 1.30% expense ratio.

Dividends

NSBDX vs. NSMVX - Dividend Comparison

NSBDX's dividend yield for the trailing twelve months is around 4.14%, more than NSMVX's 3.38% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NSBDX North Star Bond Fund	4.14%	3.72%	4.48%	3.45%	2.49%	2.72%	3.23%	3.34%	3.50%	3.61%	2.98%	2.86%
NSMVX North Star Micro Cap Fund	3.38%	3.72%	2.98%	0.72%	0.26%	3.30%	0.01%	0.94%	7.51%	3.22%	3.34%	5.11%

Frequently Asked Questions

Can I hold both NSBDX and NSMVX in my portfolio?

NSBDX and NSMVX have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NSBDX or NSMVX?

NSMVX has higher volatility (5.23%) compared to NSBDX (0.77%). In terms of maximum drawdown, NSBDX dropped -18.75% vs NSMVX's -41.32%.

Which has better risk-adjusted returns?

NSBDX currently has the higher Sharpe Ratio (1.91 vs 0.97), 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.