NUESX vs. NHFIX

Last updated Aug 1, 2026

NUESX (Northern U.S. Quality ESG Fund) and NHFIX (Northern High Yield Fixed Income Fund) are both mutual funds - NUESX is a Quality Factor fund managed by Northern Trust, while NHFIX is a High Yield Bonds fund managed by Northern Trust. Over the past 5 years, NUESX returned 10.67%/yr vs 3.48%/yr for NHFIX. Their 0.48 correlation means their historical movements had little consistent relationship. NUESX charges 0.39%/yr vs 0.60%/yr for NHFIX.

Performance

NUESX vs. NHFIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Northern U.S. Quality ESG Fund (NUESX) and Northern High Yield Fixed Income Fund (NHFIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NUESX achieves a 8.00% return, which is significantly higher than NHFIX's 2.00% return.

NUESX

• 1D: 1.44%
• 1M: 0.17%
• 6M: 7.01%
• YTD: 8.00%
• 1Y: 17.04%
• 3Y*: 16.34%
• 5Y*: 10.67%
• 10Y*: —
• ALL TIME*: 14.15%

NHFIX

• 1D: 0.17%
• 1M: -0.27%
• 6M: 1.26%
• YTD: 2.00%
• 1Y: 5.60%
• 3Y*: 8.39%
• 5Y*: 3.48%
• 10Y*: 5.28%
• ALL TIME*: 5.38%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
NHFIX Northern High Yield Fixed Income Fund	$0.00	$0.00	$0.00
NUESX Northern U.S. Quality ESG Fund	$0.00	$0.00	$0.00

NUESX vs. NHFIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
NUESX Northern U.S. Quality ESG Fund	8.00%	15.33%	20.67%	25.22%	-18.85%	31.26%	20.20%	31.40%	-4.71%
NHFIX Northern High Yield Fixed Income Fund	2.00%	8.79%	8.03%	13.96%	-13.74%	5.03%	6.04%	16.17%	-2.33%

Correlation

The correlation between NUESX and NHFIX is 0.59, 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.	0.59
Correlation (3Y) Balances recent behavior with more history.	0.49
Correlation (5Y) Shows whether the relationship held over a longer period.	0.51
Correlation (All Time) Calculated using the full available price history since Mar 26, 2018	0.48

The correlation between NUESX and NHFIX shifts across timeframes, from 0.48 (all time) to 0.59 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

NUESX vs. NHFIX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

NUESX

NUESX Risk / Return Rank: 43
NUESX Sharpe Ratio Rank: 41
NUESX Sortino Ratio Rank: 41
NUESX Omega Ratio Rank: 40
NUESX Calmar Ratio Rank: 40
NUESX Martin Ratio Rank: 53

NHFIX

NHFIX Risk / Return Rank: 80
NHFIX Sharpe Ratio Rank: 72
NHFIX Sortino Ratio Rank: 81
NHFIX Omega Ratio Rank: 81
NHFIX Calmar Ratio Rank: 82
NHFIX Martin Ratio Rank: 86

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

NUESX vs. NHFIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Northern U.S. Quality ESG Fund (NUESX) and Northern High Yield Fixed Income Fund (NHFIX). 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.

	NUESX	NHFIX	Difference
Sharpe ratio: Return per unit of total volatility	1.26	1.68	-0.42
Sortino ratio: Return per unit of downside risk	1.81	2.79	-0.98
Omega ratio: Gain probability vs. loss probability	1.23	1.37	-0.15
Calmar ratio: Return relative to maximum drawdown	1.71	2.70	-0.99
Martin ratio: Return relative to average drawdown	7.34	10.96	-3.61

NUESX vs. NHFIX - Sharpe Ratio Comparison

The current NUESX Sharpe Ratio is 1.26, which is comparable to the NHFIX Sharpe Ratio of 1.68. The chart below compares the historical Sharpe Ratios of NUESX and NHFIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

NUESX vs. NHFIX - Drawdown Comparison

The maximum NUESX drawdown since its inception was -33.33%, which is greater than NHFIX's maximum drawdown of -27.87%. Use the drawdown chart below to compare losses from any high point for NUESX and NHFIX.

Drawdown Indicators

	NUESX	NHFIX	Difference
Max Drawdown Largest peak-to-trough decline	-33.33%	-27.87%	-5.46%
Max Drawdown (1Y) Largest decline over 1 year	-9.63%	-2.10%	-7.53%
Max Drawdown (3Y) Largest decline over 3 years	-19.41%	-4.39%	-15.02%
Max Drawdown (5Y) Largest decline over 5 years	-24.96%	-17.47%	-7.49%
Max Drawdown (10Y) Largest decline over 10 years	—	-24.72%	—
Current Drawdown Current decline from peak	-1.19%	-0.27%	-0.92%
Average Drawdown Average peak-to-trough decline	-5.15%	-2.76%	-2.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.23%	0.51%	+1.72%

Volatility

NUESX vs. NHFIX - Volatility Comparison

Northern U.S. Quality ESG Fund (NUESX) has a higher volatility of 3.31% compared to Northern High Yield Fixed Income Fund (NHFIX) at 0.58%. This indicates that NUESX's price experiences larger fluctuations and is considered to be riskier than NHFIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NUESX	NHFIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.31%	0.58%	+2.73%
Volatility (6M) Calculated over the trailing 6-month period	10.00%	2.53%	+7.47%
Volatility (1Y) Calculated over the trailing 1-year period	13.09%	3.38%	+9.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.51%	5.10%	+12.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.54%	5.91%	+13.63%

NUESX vs. NHFIX - Expense Ratio Comparison

NUESX has a 0.39% expense ratio, which is lower than NHFIX's 0.60% expense ratio.

Dividends

NUESX vs. NHFIX - Dividend Comparison

NUESX's dividend yield for the trailing twelve months is around 11.54%, more than NHFIX's 7.02% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NHFIX Northern High Yield Fixed Income Fund	7.02%	6.87%	6.67%	6.57%	3.84%	4.92%	5.41%	6.35%	6.85%	6.66%	5.57%	6.19%
NUESX Northern U.S. Quality ESG Fund	11.54%	12.68%	1.50%	1.54%	3.71%	5.97%	1.60%	1.62%	2.44%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both NUESX and NHFIX in my portfolio?

NUESX and NHFIX have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NUESX or NHFIX?

NUESX has higher volatility (3.31%) compared to NHFIX (0.58%). In terms of maximum drawdown, NUESX dropped -33.33% vs NHFIX's -27.87%.

Which has better risk-adjusted returns?

NHFIX currently has the higher Sharpe Ratio (1.68 vs 1.26), 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.