NSGRX vs. NOSGX

Last updated Jun 5, 2026

NSGRX (Northern Small Cap Core Fund) and NOSGX (Northern Small Cap Value Fund) are both mutual funds - NSGRX is a Small Cap Blend Equities fund managed by Northern Funds, while NOSGX is a Small Cap Value Equities fund managed by Northern Funds. Over the past 10 years, NSGRX returned 10.76%/yr vs 8.37%/yr for NOSGX. Their correlation of 0.94 suggests significant overlap in exposure. NSGRX charges 0.62%/yr vs 1.00%/yr for NOSGX.

Performance

NSGRX vs. NOSGX - Performance Comparison

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

Returns By Period

In the year-to-date period, NSGRX achieves a 15.64% return, which is significantly higher than NOSGX's 14.73% return. Over the past 10 years, NSGRX has outperformed NOSGX with an annualized return of 10.76%, while NOSGX has yielded a comparatively lower 8.37% annualized return.

NSGRX

• 1D: -1.03%
• 1M: 0.40%
• YTD: 15.64%
• 6M: 14.72%
• 1Y: 34.73%
• 3Y*: 16.71%
• 5Y*: 7.18%
• 10Y*: 10.76%

NOSGX

• 1D: -1.37%
• 1M: -0.00%
• YTD: 14.73%
• 6M: 14.12%
• 1Y: 34.58%
• 3Y*: 14.29%
• 5Y*: 6.34%
• 10Y*: 8.37%

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

NSGRX vs. NOSGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NSGRX Northern Small Cap Core Fund	15.64%	10.57%	10.44%	16.96%	-16.14%	19.99%	14.53%	23.30%	-10.22%	13.05%
NOSGX Northern Small Cap Value Fund	14.73%	10.63%	2.60%	15.67%	-10.50%	26.17%	-2.29%	22.30%	-13.79%	6.47%

Correlation

The correlation between NSGRX and NOSGX is 0.95, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.95
Correlation (3Y) Calculated over the trailing 3-year period	0.96
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (10Y) Calculated over the trailing 10-year period	0.96
Correlation (All Time) Calculated using the full available price history since Oct 1, 1999	0.94

The correlation between NSGRX and NOSGX has been stable across timeframes, ranging from 0.94 to 0.96 - a consistent structural relationship.

Return for Risk

NSGRX vs. NOSGX — Risk / Return Rank

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

NSGRX

NSGRX Risk / Return Rank: 58
NSGRX Sharpe Ratio Rank: 44
NSGRX Sortino Ratio Rank: 45
NSGRX Omega Ratio Rank: 41
NSGRX Calmar Ratio Rank: 85
NSGRX Martin Ratio Rank: 76

NOSGX

NOSGX Risk / Return Rank: 57
NOSGX Sharpe Ratio Rank: 44
NOSGX Sortino Ratio Rank: 48
NOSGX Omega Ratio Rank: 42
NOSGX Calmar Ratio Rank: 83
NOSGX Martin Ratio Rank: 69

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.

NSGRX vs. NOSGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Northern Small Cap Core Fund (NSGRX) and Northern Small Cap Value Fund (NOSGX). 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.

	NSGRX	NOSGX	Difference
Sharpe ratio: Return per unit of total volatility	1.93	1.94	0.00
Sortino ratio: Return per unit of downside risk	2.79	2.89	-0.10
Omega ratio: Gain probability vs. loss probability	1.34	1.35	-0.01
Calmar ratio: Return relative to maximum drawdown	4.04	3.80	+0.24
Martin ratio: Return relative to average drawdown	14.12	13.13	+0.99
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NSGRX vs. NOSGX - Sharpe Ratio Comparison

The current NSGRX Sharpe Ratio is 1.93, which is comparable to the NOSGX Sharpe Ratio of 1.94. The chart below compares the historical Sharpe Ratios of NSGRX and NOSGX, 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

	NSGRX	NOSGX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.93	1.94	0.00
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.31	0.27	+0.04
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.46	0.34	+0.12
Sharpe Ratio (All Time) Calculated using the full available price history	0.34	0.40	-0.06

Drawdowns

NSGRX vs. NOSGX - Drawdown Comparison

The maximum NSGRX drawdown since its inception was -64.89%, which is greater than NOSGX's maximum drawdown of -56.92%. Use the drawdown chart below to compare losses from any high point for NSGRX and NOSGX.

Drawdown Indicators

	NSGRX	NOSGX	Difference
Max Drawdown Largest peak-to-trough decline	-64.89%	-56.92%	-7.97%
Max Drawdown (1Y) Largest decline over 1 year	-8.66%	-9.07%	+0.41%
Max Drawdown (3Y) Largest decline over 3 years	-26.45%	-28.13%	+1.68%
Max Drawdown (5Y) Largest decline over 5 years	-32.31%	-28.34%	-3.97%
Max Drawdown (10Y) Largest decline over 10 years	-40.37%	-45.66%	+5.29%
Current Drawdown Current decline from peak	-1.24%	-1.54%	+0.30%
Average Drawdown Average peak-to-trough decline	-22.17%	-9.05%	-13.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.45%	2.60%	-0.15%

Volatility

NSGRX vs. NOSGX - Volatility Comparison

Northern Small Cap Core Fund (NSGRX) and Northern Small Cap Value Fund (NOSGX) have volatilities of 5.01% and 4.86%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NSGRX	NOSGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.01%	4.86%	+0.15%
Volatility (6M) Calculated over the trailing 6-month period	12.47%	11.82%	+0.65%
Volatility (1Y) Calculated over the trailing 1-year period	18.16%	17.85%	+0.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.36%	23.85%	-0.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.38%	24.56%	-1.18%

NSGRX vs. NOSGX - Expense Ratio Comparison

NSGRX has a 0.62% expense ratio, which is lower than NOSGX's 1.00% expense ratio.

Dividends

NSGRX vs. NOSGX - Dividend Comparison

NSGRX's dividend yield for the trailing twelve months is around 13.71%, less than NOSGX's 38.34% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NOSGX Northern Small Cap Value Fund	38.34%	43.99%	57.55%	6.99%	5.84%	16.35%	1.96%	7.08%	11.90%	9.76%	2.26%	4.50%
NSGRX Northern Small Cap Core Fund	13.71%	15.85%	17.77%	6.90%	0.55%	15.75%	5.00%	6.30%	1.26%	4.35%	0.67%	3.35%

Frequently Asked Questions

Can I hold both NSGRX and NOSGX in my portfolio?

With a correlation of 0.95, NSGRX and NOSGX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, NSGRX or NOSGX?

NSGRX has higher volatility (5.01%) compared to NOSGX (4.86%). In terms of maximum drawdown, NSGRX dropped -64.89% vs NOSGX's -56.92%.

Which has better risk-adjusted returns?

NOSGX currently has the higher Sharpe Ratio (1.94 vs 1.93), 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.