NSIDX vs. XSHQ
NSIDX (Northern Small Cap Index Fund) and XSHQ (Invesco S&P SmallCap Quality ETF) are both funds - NSIDX is a Small Cap Blend Equities fund managed by Northern Trust, while XSHQ is a Quality Factor fund tracking the S&P SmallCap 600 Quality Index. Over the past 5 years, NSIDX returned 7.09%/yr vs 7.26%/yr for XSHQ. Their correlation of 0.86 means they have usually moved in the same direction. NSIDX charges 0.10%/yr vs 0.29%/yr for XSHQ.
Performance
NSIDX vs. XSHQ - Performance Comparison
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Returns By Period
In the year-to-date period, NSIDX achieves a 19.46% return, which is significantly higher than XSHQ's 14.76% return.
NSIDX
- 1D
- 1.37%
- 1M
- -1.60%
- 6M
- 13.37%
- YTD
- 19.46%
- 1Y
- 34.94%
- 3Y*
- 15.26%
- 5Y*
- 7.09%
- 10Y*
- 10.52%
- ALL TIME*
- 8.30%
XSHQ
- 1D
- -0.08%
- 1M
- 0.52%
- 6M
- 11.29%
- YTD
- 14.76%
- 1Y
- 20.29%
- 3Y*
- 9.48%
- 5Y*
- 7.26%
- 10Y*
- —
- ALL TIME*
- 8.92%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $7.28M | $3.86M | $2.26M |
NSIDX vs. XSHQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NSIDX Northern Small Cap Index Fund | 19.46% | 12.88% | 11.45% | 16.87% | -20.63% | 14.38% | 19.59% | 25.22% | -11.33% | 12.67% |
XSHQ Invesco S&P SmallCap Quality ETF | 14.76% | 0.89% | 7.49% | 23.88% | -15.01% | 23.99% | 11.81% | 17.37% | -6.11% | 7.18% |
Correlation
The correlation between NSIDX and XSHQ is 0.75, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.75 |
Correlation (3Y) Balances recent behavior with more history. | 0.86 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.88 |
Correlation (All Time) Calculated using the full available price history since Aug 24, 2017 | 0.86 |
The correlation between NSIDX and XSHQ shifts across timeframes, from 0.75 (1 year) to 0.88 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
NSIDX vs. XSHQ — Risk / Return Rank
NSIDX
XSHQ
NSIDX vs. XSHQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Northern Small Cap Index Fund (NSIDX) and Invesco S&P SmallCap Quality ETF (XSHQ). 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.
| NSIDX | XSHQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.61 | ||
| Sortino ratioReturn per unit of downside risk | +0.74 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.19 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 3.05 | 1.78 | +1.27 |
| Martin ratioReturn relative to average drawdown | 10.75 | 4.91 | +5.83 |
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Drawdowns
NSIDX vs. XSHQ - Drawdown Comparison
The maximum NSIDX drawdown since its inception was -59.02%, which is greater than XSHQ's maximum drawdown of -38.33%. Use the drawdown chart below to compare losses from any high point for NSIDX and XSHQ.
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Drawdown Indicators
| NSIDX | XSHQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.02% | -38.33% | -20.69% |
Max Drawdown (1Y)Largest decline over 1 year | -10.97% | -10.27% | -0.70% |
Max Drawdown (3Y)Largest decline over 3 years | -27.71% | -27.34% | -0.37% |
Max Drawdown (5Y)Largest decline over 5 years | -32.89% | -27.34% | -5.55% |
Max Drawdown (10Y)Largest decline over 10 years | -42.09% | — | — |
Current DrawdownCurrent decline from peak | -2.53% | -0.55% | -1.98% |
Average DrawdownAverage peak-to-trough decline | -12.00% | -9.19% | -2.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.11% | 3.73% | -0.62% |
Volatility
NSIDX vs. XSHQ - Volatility Comparison
The current volatility for Northern Small Cap Index Fund (NSIDX) is 3.79%, while Invesco S&P SmallCap Quality ETF (XSHQ) has a volatility of 4.23%. This indicates that NSIDX experiences smaller price fluctuations and is considered to be less risky than XSHQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NSIDX | XSHQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.79% | 4.23% | -0.44% |
Volatility (6M)Calculated over the trailing 6-month period | 14.14% | 11.69% | +2.45% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.05% | 17.30% | +2.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.20% | 21.06% | +3.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.23% | 23.00% | +1.23% |
NSIDX vs. XSHQ - Expense Ratio Comparison
NSIDX has a 0.10% expense ratio, which is lower than XSHQ's 0.29% expense ratio.
Dividends
NSIDX vs. XSHQ - Dividend Comparison
NSIDX's dividend yield for the trailing twelve months is around 1.32%, more than XSHQ's 1.18% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NSIDX Northern Small Cap Index Fund | 1.32% | 1.57% | 6.72% | 2.01% | 6.38% | 12.15% | 3.52% | 1.78% | 12.16% | 6.55% | 4.06% | 6.68% |
XSHQ Invesco S&P SmallCap Quality ETF | 1.18% | 1.48% | 1.18% | 1.15% | 2.02% | 1.25% | 1.24% | 1.11% | 1.16% | 0.60% | 0.00% | 0.00% |
Frequently Asked Questions
NSIDX and XSHQ have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
XSHQ has higher volatility (4.23%) compared to NSIDX (3.79%). In terms of maximum drawdown, NSIDX dropped -59.02% vs XSHQ's -38.33%.
NSIDX currently has the higher Sharpe Ratio (1.67 vs 1.06), 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.
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