TBLGX vs. NOIEX

Last updated Apr 1, 2026

Compare and contrast key facts about T. Rowe Price Retirement Blend 2030 Fund (TBLGX) and Northern Income Equity Fund (NOIEX).

TBLGX is managed by T. Rowe Price. It was launched on Jul 25, 2021. NOIEX is managed by Northern Funds. It was launched on Mar 31, 1994.

Performance

TBLGX vs. NOIEX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Retirement Blend 2030 Fund (TBLGX) and Northern Income Equity Fund (NOIEX). The values are adjusted to include any dividend payments, if applicable.

TBLGX vs. NOIEX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
TBLGX T. Rowe Price Retirement Blend 2030 Fund	-2.62%	15.49%	11.32%	16.91%	-16.41%	2.96%
NOIEX Northern Income Equity Fund	-4.59%	18.81%	24.28%	19.56%	-13.34%	9.05%

Returns By Period

In the year-to-date period, TBLGX achieves a -2.62% return, which is significantly higher than NOIEX's -4.59% return.

TBLGX

• 1D: -0.09%
• 1M: -6.53%
• YTD: -2.62%
• 6M: -0.32%
• 1Y: 11.81%
• 3Y*: 11.46%
• 5Y*: —
• 10Y*: —

NOIEX

• 1D: -0.29%
• 1M: -7.32%
• YTD: -4.59%
• 6M: -1.82%
• 1Y: 16.41%
• 3Y*: 17.35%
• 5Y*: 11.80%
• 10Y*: 12.25%

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

TBLGX vs. NOIEX - Expense Ratio Comparison

TBLGX has a 0.23% expense ratio, which is lower than NOIEX's 0.49% expense ratio.

NOIEX

Northern Income Equity Fund

TBLGX

T. Rowe Price Retirement Blend 2030 Fund

Return for Risk

TBLGX vs. NOIEX — Risk / Return Rank

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

TBLGX

TBLGX Risk / Return Rank: 61
TBLGX Sharpe Ratio Rank: 62
TBLGX Sortino Ratio Rank: 61
TBLGX Omega Ratio Rank: 62
TBLGX Calmar Ratio Rank: 55
TBLGX Martin Ratio Rank: 64

NOIEX

NOIEX Risk / Return Rank: 50
NOIEX Sharpe Ratio Rank: 48
NOIEX Sortino Ratio Rank: 55
NOIEX Omega Ratio Rank: 59
NOIEX Calmar Ratio Rank: 41
NOIEX Martin Ratio Rank: 50

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.

TBLGX vs. NOIEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Retirement Blend 2030 Fund (TBLGX) and Northern Income Equity Fund (NOIEX). 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.

	TBLGX	NOIEX	Difference
Sharpe ratio Return per unit of total volatility	1.10	0.92	+0.18
Sortino ratio Return per unit of downside risk	1.58	1.45	+0.13
Omega ratio Gain probability vs. loss probability	1.24	1.22	+0.02
Calmar ratio Return relative to maximum drawdown	1.32	1.05	+0.27
Martin ratio Return relative to average drawdown	6.13	4.85	+1.28
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TBLGX vs. NOIEX - Sharpe Ratio Comparison

The current TBLGX Sharpe Ratio is 1.10, which is comparable to the NOIEX Sharpe Ratio of 0.92. The chart below compares the historical Sharpe Ratios of TBLGX and NOIEX, 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

	TBLGX	NOIEX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.10	0.92	+0.18
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.73	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.69	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.45	0.65	-0.20

Correlation

The correlation between TBLGX and NOIEX is 0.89, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

TBLGX vs. NOIEX - Dividend Comparison

TBLGX's dividend yield for the trailing twelve months is around 2.95%, less than NOIEX's 8.37% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TBLGX T. Rowe Price Retirement Blend 2030 Fund	2.95%	2.87%	2.48%	2.21%	2.60%	1.88%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
NOIEX Northern Income Equity Fund	8.37%	7.92%	6.11%	7.03%	5.44%	14.26%	7.67%	8.58%	15.73%	7.56%	3.02%	5.57%

Drawdowns

TBLGX vs. NOIEX - Drawdown Comparison

The maximum TBLGX drawdown since its inception was -23.25%, smaller than the maximum NOIEX drawdown of -45.66%. Use the drawdown chart below to compare losses from any high point for TBLGX and NOIEX.

Drawdown Indicators

	TBLGX	NOIEX	Difference
Max Drawdown Largest peak-to-trough decline	-23.25%	-45.66%	+22.41%
Max Drawdown (1Y) Largest decline over 1 year	-8.22%	-12.41%	+4.19%
Max Drawdown (5Y) Largest decline over 5 years	—	-21.89%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-35.31%	—
Current Drawdown Current decline from peak	-6.69%	-8.39%	+1.70%
Average Drawdown Average peak-to-trough decline	-6.03%	-5.01%	-1.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.77%	2.89%	-1.12%

Volatility

TBLGX vs. NOIEX - Volatility Comparison

The current volatility for T. Rowe Price Retirement Blend 2030 Fund (TBLGX) is 3.49%, while Northern Income Equity Fund (NOIEX) has a volatility of 4.02%. This indicates that TBLGX experiences smaller price fluctuations and is considered to be less risky than NOIEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TBLGX	NOIEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.49%	4.02%	-0.53%
Volatility (6M) Calculated over the trailing 6-month period	6.22%	9.01%	-2.79%
Volatility (1Y) Calculated over the trailing 1-year period	10.88%	19.09%	-8.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.42%	16.32%	-4.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.42%	17.92%	-6.50%