NSBDX vs. NSOIX

Last updated Jun 3, 2026

NSBDX (North Star Bond Fund) and NSOIX (North Star Opportunity Fund) are both mutual funds - NSBDX is a Nontraditional Bonds fund managed by North Star, while NSOIX is a Diversified Portfolio fund managed by North Star. Over the past 10 years, NSBDX returned 2.34%/yr vs 9.30%/yr for NSOIX. At a 0.50 correlation, their price movements are largely independent. NSBDX charges 1.63%/yr vs 1.30%/yr for NSOIX.

Performance

NSBDX vs. NSOIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in North Star Bond Fund (NSBDX) and North Star Opportunity Fund (NSOIX). 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 NSOIX's 9.26% return. Over the past 10 years, NSBDX has underperformed NSOIX with an annualized return of 2.34%, while NSOIX has yielded a comparatively higher 9.30% annualized return.

NSBDX

• 1D: 0.00%
• 1M: -0.08%
• YTD: 0.99%
• 6M: 1.27%
• 1Y: 3.84%
• 3Y*: 4.52%
• 5Y*: 1.69%
• 10Y*: 2.34%

NSOIX

• 1D: -0.55%
• 1M: 3.67%
• YTD: 9.26%
• 6M: 10.95%
• 1Y: 29.36%
• 3Y*: 14.02%
• 5Y*: 5.17%
• 10Y*: 9.30%

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

NSBDX vs. NSOIX - 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%
NSOIX North Star Opportunity Fund	9.26%	12.60%	10.84%	13.65%	-23.08%	20.83%	17.57%	26.61%	-10.18%	11.91%

Correlation

The correlation between NSBDX and NSOIX is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.45
Correlation (3Y) Calculated over the trailing 3-year period	0.49
Correlation (5Y) Calculated over the trailing 5-year period	0.58
Correlation (10Y) Calculated over the trailing 10-year period	0.52
Correlation (All Time) Calculated using the full available price history since Dec 23, 2014	0.50

The correlation between NSBDX and NSOIX shifts across timeframes, from 0.45 (1 year) to 0.58 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

NSBDX vs. NSOIX — Risk / Return Rank

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

NSBDX

NSBDX Risk / Return Rank: 40
NSBDX Sharpe Ratio Rank: 43
NSBDX Sortino Ratio Rank: 46
NSBDX Omega Ratio Rank: 54
NSBDX Calmar Ratio Rank: 24
NSBDX Martin Ratio Rank: 35

NSOIX

NSOIX Risk / Return Rank: 82
NSOIX Sharpe Ratio Rank: 87
NSOIX Sortino Ratio Rank: 84
NSOIX Omega Ratio Rank: 75
NSOIX Calmar Ratio Rank: 84
NSOIX Martin Ratio Rank: 80

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. NSOIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for North Star Bond Fund (NSBDX) and North Star Opportunity Fund (NSOIX). 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	NSOIX	Difference
Sharpe ratio Return per unit of total volatility	1.92	2.82	-0.90
Sortino ratio Return per unit of downside risk	2.86	3.97	-1.12
Omega ratio Gain probability vs. loss probability	1.41	1.49	-0.09
Calmar ratio Return relative to maximum drawdown	1.86	3.99	-2.13
Martin ratio Return relative to average drawdown	7.83	15.05	-7.22
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. NSOIX - Sharpe Ratio Comparison

The current NSBDX Sharpe Ratio is 1.92, which is lower than the NSOIX Sharpe Ratio of 2.82. The chart below compares the historical Sharpe Ratios of NSBDX and NSOIX, 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	NSOIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.92	2.82	-0.90
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.63	0.36	+0.27
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.60	0.60	0.00
Sharpe Ratio (All Time) Calculated using the full available price history	0.59	0.63	-0.04

Drawdowns

NSBDX vs. NSOIX - Drawdown Comparison

The maximum NSBDX drawdown since its inception was -18.75%, smaller than the maximum NSOIX drawdown of -33.29%. Use the drawdown chart below to compare losses from any high point for NSBDX and NSOIX.

Drawdown Indicators

	NSBDX	NSOIX	Difference
Max Drawdown Largest peak-to-trough decline	-18.75%	-33.29%	+14.54%
Max Drawdown (1Y) Largest decline over 1 year	-2.12%	-7.38%	+5.26%
Max Drawdown (3Y) Largest decline over 3 years	-2.17%	-18.24%	+16.07%
Max Drawdown (5Y) Largest decline over 5 years	-8.88%	-27.89%	+19.01%
Max Drawdown (10Y) Largest decline over 10 years	-18.75%	-33.29%	+14.54%
Current Drawdown Current decline from peak	-0.52%	-0.55%	+0.03%
Average Drawdown Average peak-to-trough decline	-1.75%	-6.52%	+4.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.51%	1.96%	-1.45%

Volatility

NSBDX vs. NSOIX - Volatility Comparison

The current volatility for North Star Bond Fund (NSBDX) is 0.80%, while North Star Opportunity Fund (NSOIX) has a volatility of 3.31%. This indicates that NSBDX experiences smaller price fluctuations and is considered to be less risky than NSOIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NSBDX	NSOIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.80%	3.31%	-2.51%
Volatility (6M) Calculated over the trailing 6-month period	1.59%	7.56%	-5.97%
Volatility (1Y) Calculated over the trailing 1-year period	2.01%	10.56%	-8.55%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.69%	14.55%	-11.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.91%	15.61%	-11.70%

NSBDX vs. NSOIX - Expense Ratio Comparison

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

Dividends

NSBDX vs. NSOIX - Dividend Comparison

NSBDX's dividend yield for the trailing twelve months is around 4.14%, less than NSOIX's 5.69% 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%
NSOIX North Star Opportunity Fund	5.69%	6.13%	4.08%	2.66%	4.68%	2.38%	0.52%	1.36%	6.81%	1.62%	1.03%	2.53%

Frequently Asked Questions

Can I hold both NSBDX and NSOIX in my portfolio?

NSBDX and NSOIX have a correlation of 0.45, 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 NSOIX?

NSOIX has higher volatility (3.31%) compared to NSBDX (0.80%). In terms of maximum drawdown, NSBDX dropped -18.75% vs NSOIX's -33.29%.

Which has better risk-adjusted returns?

NSOIX currently has the higher Sharpe Ratio (2.82 vs 1.92), 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.