NUSFX vs. DFYGX

Last updated Jun 4, 2026

NUSFX (Northern Ultra-Short Fixed Income Fund) and DFYGX (DFA Two-Year Government Portfolio) are both Ultrashort Bond funds. Over the past 10 years, NUSFX returned 2.35%/yr vs 1.43%/yr for DFYGX. At a 0.29 correlation, their price movements are largely independent. NUSFX charges 0.28%/yr vs 0.17%/yr for DFYGX.

Performance

NUSFX vs. DFYGX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Northern Ultra-Short Fixed Income Fund (NUSFX) and DFA Two-Year Government Portfolio (DFYGX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NUSFX achieves a 1.24% return, which is significantly lower than DFYGX's 1.41% return. Over the past 10 years, NUSFX has outperformed DFYGX with an annualized return of 2.35%, while DFYGX has yielded a comparatively lower 1.43% annualized return.

NUSFX

• 1D: 0.00%
• 1M: 0.37%
• YTD: 1.24%
• 6M: 1.53%
• 1Y: 4.27%
• 3Y*: 4.59%
• 5Y*: 2.74%
• 10Y*: 2.35%

DFYGX

• 1D: 0.00%
• 1M: 0.21%
• YTD: 1.41%
• 6M: 1.69%
• 1Y: 2.63%
• 3Y*: 3.92%
• 5Y*: 1.99%
• 10Y*: 1.43%

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

NUSFX vs. DFYGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NUSFX Northern Ultra-Short Fixed Income Fund	1.24%	4.27%	5.22%	5.21%	-1.59%	-0.17%	2.34%	3.68%	1.51%	1.53%
DFYGX DFA Two-Year Government Portfolio	1.41%	2.16%	5.15%	5.00%	-3.02%	-0.51%	0.38%	2.20%	1.42%	0.29%

Correlation

The correlation between NUSFX and DFYGX is 0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.01
Correlation (3Y) Calculated over the trailing 3-year period	-0.02
Correlation (5Y) Calculated over the trailing 5-year period	0.26
Correlation (10Y) Calculated over the trailing 10-year period	0.22
Correlation (All Time) Calculated using the full available price history since Jun 26, 2009	0.29

Over the past year, the correlation between NUSFX and DFYGX has dropped to 0.01 - well below their long-term average of 0.29, suggesting their price drivers have been diverging.

Return for Risk

NUSFX vs. DFYGX — Risk / Return Rank

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

NUSFX

NUSFX Risk / Return Rank: 98
NUSFX Sharpe Ratio Rank: 92
NUSFX Sortino Ratio Rank: 99
NUSFX Omega Ratio Rank: 99
NUSFX Calmar Ratio Rank: 99
NUSFX Martin Ratio Rank: 99

DFYGX

DFYGX Risk / Return Rank: 55
DFYGX Sharpe Ratio Rank: 52
DFYGX Sortino Ratio Rank: 35
DFYGX Omega Ratio Rank: 99
DFYGX Calmar Ratio Rank: 46
DFYGX Martin Ratio Rank: 44

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.

NUSFX vs. DFYGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Northern Ultra-Short Fixed Income Fund (NUSFX) and DFA Two-Year Government Portfolio (DFYGX). 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.

	NUSFX	DFYGX	Difference
Sharpe ratio: Return per unit of total volatility	3.14	2.12	+1.01
Sortino ratio: Return per unit of downside risk	10.56	2.45	+8.11
Omega ratio: Gain probability vs. loss probability	3.55	2.55	+1.00
Calmar ratio: Return relative to maximum drawdown	11.18	2.57	+8.61
Martin ratio: Return relative to average drawdown	40.87	9.22	+31.65
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NUSFX vs. DFYGX - Sharpe Ratio Comparison

The current NUSFX Sharpe Ratio is 3.14, which is higher than the DFYGX Sharpe Ratio of 2.12. The chart below compares the historical Sharpe Ratios of NUSFX and DFYGX, 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

	NUSFX	DFYGX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.14	2.12	+1.01
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	2.09	1.62	+0.47
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.94	1.44	+0.50
Sharpe Ratio (All Time) Calculated using the full available price history	1.78	1.85	-0.07

Drawdowns

NUSFX vs. DFYGX - Drawdown Comparison

The maximum NUSFX drawdown since its inception was -3.88%, smaller than the maximum DFYGX drawdown of -4.46%. Use the drawdown chart below to compare losses from any high point for NUSFX and DFYGX.

Drawdown Indicators

	NUSFX	DFYGX	Difference
Max Drawdown Largest peak-to-trough decline	-3.88%	-4.46%	+0.58%
Max Drawdown (1Y) Largest decline over 1 year	-0.39%	-1.04%	+0.65%
Max Drawdown (3Y) Largest decline over 3 years	-0.87%	-1.04%	+0.17%
Max Drawdown (5Y) Largest decline over 5 years	-3.35%	-4.36%	+1.01%
Max Drawdown (10Y) Largest decline over 10 years	-3.88%	-4.46%	+0.58%
Current Drawdown Current decline from peak	0.00%	-0.10%	+0.10%
Average Drawdown Average peak-to-trough decline	-0.24%	-0.30%	+0.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.11%	0.29%	-0.18%

Volatility

NUSFX vs. DFYGX - Volatility Comparison

Northern Ultra-Short Fixed Income Fund (NUSFX) has a higher volatility of 0.49% compared to DFA Two-Year Government Portfolio (DFYGX) at 0.34%. This indicates that NUSFX's price experiences larger fluctuations and is considered to be riskier than DFYGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NUSFX	DFYGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.49%	0.34%	+0.15%
Volatility (6M) Calculated over the trailing 6-month period	0.96%	0.54%	+0.42%
Volatility (1Y) Calculated over the trailing 1-year period	1.38%	1.26%	+0.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.32%	1.24%	+0.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.22%	1.00%	+0.22%

NUSFX vs. DFYGX - Expense Ratio Comparison

NUSFX has a 0.28% expense ratio, which is higher than DFYGX's 0.17% expense ratio.

Dividends

NUSFX vs. DFYGX - Dividend Comparison

NUSFX's dividend yield for the trailing twelve months is around 4.18%, more than DFYGX's 2.80% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DFYGX DFA Two-Year Government Portfolio	2.80%	2.04%	4.84%	3.07%	1.14%	0.00%	0.27%	1.87%	1.82%	1.01%	0.58%	0.49%
NUSFX Northern Ultra-Short Fixed Income Fund	4.18%	3.78%	4.09%	2.86%	0.97%	0.71%	1.52%	2.42%	2.09%	1.42%	1.07%	0.85%

Frequently Asked Questions

Can I hold both NUSFX and DFYGX in my portfolio?

NUSFX and DFYGX have a correlation of 0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NUSFX or DFYGX?

NUSFX has higher volatility (0.49%) compared to DFYGX (0.34%). In terms of maximum drawdown, NUSFX dropped -3.88% vs DFYGX's -4.46%.

Which has better risk-adjusted returns?

NUSFX currently has the higher Sharpe Ratio (3.14 vs 2.12), 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.