NTAUX vs. NOEMX

Last updated Apr 2, 2026

Compare and contrast key facts about Northern Tax-Advantaged U-S Fixed Income (NTAUX) and Northern Emerging Markets Equity Index Fund (NOEMX).

NTAUX is managed by Northern Funds. It was launched on Jun 18, 2009. NOEMX is managed by Northern Funds. It was launched on Apr 24, 2006.

Performance

NTAUX vs. NOEMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Northern Tax-Advantaged U-S Fixed Income (NTAUX) and Northern Emerging Markets Equity Index Fund (NOEMX). The values are adjusted to include any dividend payments, if applicable.

NTAUX vs. NOEMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NTAUX Northern Tax-Advantaged U-S Fixed Income	0.57%	2.60%	3.52%	4.06%	-1.59%	-0.03%	1.49%	2.52%	1.39%	0.83%
NOEMX Northern Emerging Markets Equity Index Fund	2.41%	33.67%	7.10%	9.20%	-20.53%	-3.36%	17.63%	18.32%	-15.04%	37.34%

Returns By Period

In the year-to-date period, NTAUX achieves a 0.57% return, which is significantly lower than NOEMX's 2.41% return. Over the past 10 years, NTAUX has underperformed NOEMX with an annualized return of 1.57%, while NOEMX has yielded a comparatively higher 7.71% annualized return.

NTAUX

• 1D: 0.00%
• 1M: -0.36%
• YTD: 0.57%
• 6M: 1.17%
• 1Y: 3.08%
• 3Y*: 3.13%
• 5Y*: 1.79%
• 10Y*: 1.57%

NOEMX

• 1D: 1.43%
• 1M: -10.05%
• YTD: 2.41%
• 6M: 5.83%
• 1Y: 31.13%
• 3Y*: 15.35%
• 5Y*: 3.42%
• 10Y*: 7.71%

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

NTAUX vs. NOEMX - Expense Ratio Comparison

NTAUX has a 0.25% expense ratio, which is higher than NOEMX's 0.22% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

NTAUX

Northern Tax-Advantaged U-S Fixed Income

NOEMX

Northern Emerging Markets Equity Index Fund

Return for Risk

NTAUX vs. NOEMX — Risk / Return Rank

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

NTAUX

NTAUX Risk / Return Rank: 97
NTAUX Sharpe Ratio Rank: 96
NTAUX Sortino Ratio Rank: 97
NTAUX Omega Ratio Rank: 98
NTAUX Calmar Ratio Rank: 95
NTAUX Martin Ratio Rank: 98

NOEMX

NOEMX Risk / Return Rank: 84
NOEMX Sharpe Ratio Rank: 89
NOEMX Sortino Ratio Rank: 88
NOEMX Omega Ratio Rank: 86
NOEMX Calmar Ratio Rank: 80
NOEMX Martin Ratio Rank: 75

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.

NTAUX vs. NOEMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Northern Tax-Advantaged U-S Fixed Income (NTAUX) and Northern Emerging Markets Equity Index Fund (NOEMX). 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.

	NTAUX	NOEMX	Difference
Sharpe ratio Return per unit of total volatility	2.41	1.89	+0.52
Sortino ratio Return per unit of downside risk	4.17	2.52	+1.65
Omega ratio Gain probability vs. loss probability	2.11	1.37	+0.74
Calmar ratio Return relative to maximum drawdown	3.49	2.09	+1.40
Martin ratio Return relative to average drawdown	19.22	7.91	+11.31
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NTAUX vs. NOEMX - Sharpe Ratio Comparison

The current NTAUX Sharpe Ratio is 2.41, which is comparable to the NOEMX Sharpe Ratio of 1.89. The chart below compares the historical Sharpe Ratios of NTAUX and NOEMX, 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

	NTAUX	NOEMX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.41	1.89	+0.52
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.70	0.21	+1.48
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.65	0.45	+1.21
Sharpe Ratio (All Time) Calculated using the full available price history	1.60	0.21	+1.39

Correlation

The correlation between NTAUX and NOEMX is 0.03, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

NTAUX vs. NOEMX - Dividend Comparison

NTAUX's dividend yield for the trailing twelve months is around 3.04%, more than NOEMX's 2.47% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NTAUX Northern Tax-Advantaged U-S Fixed Income	3.04%	2.27%	3.15%	1.96%	0.68%	0.46%	1.09%	1.69%	1.38%	0.93%	0.81%	0.61%
NOEMX Northern Emerging Markets Equity Index Fund	2.47%	2.53%	2.98%	3.86%	2.42%	2.87%	2.36%	3.24%	2.76%	1.74%	1.92%	2.54%

Drawdowns

NTAUX vs. NOEMX - Drawdown Comparison

The maximum NTAUX drawdown since its inception was -2.95%, smaller than the maximum NOEMX drawdown of -66.67%. Use the drawdown chart below to compare losses from any high point for NTAUX and NOEMX.

Drawdown Indicators

	NTAUX	NOEMX	Difference
Max Drawdown Largest peak-to-trough decline	-2.95%	-66.67%	+63.72%
Max Drawdown (1Y) Largest decline over 1 year	-0.88%	-13.06%	+12.18%
Max Drawdown (5Y) Largest decline over 5 years	-2.95%	-37.28%	+34.33%
Max Drawdown (10Y) Largest decline over 10 years	-2.95%	-39.49%	+36.54%
Current Drawdown Current decline from peak	-0.36%	-11.81%	+11.45%
Average Drawdown Average peak-to-trough decline	-0.20%	-19.16%	+18.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.16%	3.59%	-3.43%

Volatility

NTAUX vs. NOEMX - Volatility Comparison

The current volatility for Northern Tax-Advantaged U-S Fixed Income (NTAUX) is 0.32%, while Northern Emerging Markets Equity Index Fund (NOEMX) has a volatility of 7.56%. This indicates that NTAUX experiences smaller price fluctuations and is considered to be less risky than NOEMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NTAUX	NOEMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.32%	7.56%	-7.24%
Volatility (6M) Calculated over the trailing 6-month period	0.74%	12.09%	-11.35%
Volatility (1Y) Calculated over the trailing 1-year period	1.30%	17.35%	-16.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.06%	16.10%	-15.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.96%	17.41%	-16.45%