WWWEX vs. NOIEX

Last updated Apr 1, 2026

Compare and contrast key facts about Kinetics The Global Fund (WWWEX) and Northern Income Equity Fund (NOIEX).

WWWEX is managed by Kinetics. It was launched on Dec 30, 1999. NOIEX is managed by Northern Funds. It was launched on Mar 31, 1994.

Performance

WWWEX vs. NOIEX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Kinetics The Global Fund (WWWEX) and Northern Income Equity Fund (NOIEX). The values are adjusted to include any dividend payments, if applicable.

WWWEX vs. NOIEX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
WWWEX Kinetics The Global Fund	5.17%	2.89%	72.15%	11.83%	-6.45%	16.29%	25.00%	21.61%	-23.57%	48.93%
NOIEX Northern Income Equity Fund	-4.59%	18.81%	24.28%	19.56%	-13.34%	27.96%	11.03%	27.04%	-6.62%	20.22%

Returns By Period

In the year-to-date period, WWWEX achieves a 5.17% return, which is significantly higher than NOIEX's -4.59% return. Over the past 10 years, WWWEX has outperformed NOIEX with an annualized return of 16.02%, while NOIEX has yielded a comparatively lower 12.25% annualized return.

WWWEX

• 1D: -2.26%
• 1M: -7.55%
• YTD: 5.17%
• 6M: -1.12%
• 1Y: 5.51%
• 3Y*: 28.42%
• 5Y*: 11.80%
• 10Y*: 16.02%

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)

WWWEX vs. NOIEX - Expense Ratio Comparison

WWWEX has a 1.39% expense ratio, which is higher than NOIEX's 0.49% expense ratio.

WWWEX

Kinetics The Global Fund

NOIEX

Northern Income Equity Fund

Return for Risk

WWWEX vs. NOIEX — Risk / Return Rank

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

WWWEX

WWWEX Risk / Return Rank: 12
WWWEX Sharpe Ratio Rank: 12
WWWEX Sortino Ratio Rank: 12
WWWEX Omega Ratio Rank: 11
WWWEX Calmar Ratio Rank: 12
WWWEX Martin Ratio Rank: 11

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.

WWWEX vs. NOIEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Kinetics The Global Fund (WWWEX) 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.

	WWWEX	NOIEX	Difference
Sharpe ratio Return per unit of total volatility	0.30	0.92	-0.62
Sortino ratio Return per unit of downside risk	0.53	1.45	-0.92
Omega ratio Gain probability vs. loss probability	1.07	1.22	-0.16
Calmar ratio Return relative to maximum drawdown	0.30	1.05	-0.75
Martin ratio Return relative to average drawdown	0.74	4.85	-4.10
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

WWWEX vs. NOIEX - Sharpe Ratio Comparison

The current WWWEX Sharpe Ratio is 0.30, which is lower than the NOIEX Sharpe Ratio of 0.92. The chart below compares the historical Sharpe Ratios of WWWEX 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

	WWWEX	NOIEX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.30	0.92	-0.62
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.60	0.73	-0.13
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.84	0.69	+0.15
Sharpe Ratio (All Time) Calculated using the full available price history	0.24	0.65	-0.42

Correlation

The correlation between WWWEX and NOIEX is 0.56, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

WWWEX vs. NOIEX - Dividend Comparison

WWWEX's dividend yield for the trailing twelve months is around 2.45%, less than NOIEX's 8.37% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
WWWEX Kinetics The Global Fund	2.45%	2.58%	0.98%	2.50%	1.47%	3.50%	0.00%	0.00%	0.08%	9.04%	0.40%	0.06%
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

WWWEX vs. NOIEX - Drawdown Comparison

The maximum WWWEX drawdown since its inception was -82.60%, which is greater than NOIEX's maximum drawdown of -45.66%. Use the drawdown chart below to compare losses from any high point for WWWEX and NOIEX.

Drawdown Indicators

	WWWEX	NOIEX	Difference
Max Drawdown Largest peak-to-trough decline	-82.60%	-45.66%	-36.94%
Max Drawdown (1Y) Largest decline over 1 year	-12.14%	-12.41%	+0.27%
Max Drawdown (5Y) Largest decline over 5 years	-26.94%	-21.89%	-5.05%
Max Drawdown (10Y) Largest decline over 10 years	-36.00%	-35.31%	-0.69%
Current Drawdown Current decline from peak	-9.29%	-8.39%	-0.90%
Average Drawdown Average peak-to-trough decline	-41.55%	-5.01%	-36.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.85%	2.89%	+1.96%

Volatility

WWWEX vs. NOIEX - Volatility Comparison

Kinetics The Global Fund (WWWEX) has a higher volatility of 5.99% compared to Northern Income Equity Fund (NOIEX) at 4.02%. This indicates that WWWEX's price experiences larger fluctuations and is considered to be riskier than NOIEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WWWEX	NOIEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.99%	4.02%	+1.97%
Volatility (6M) Calculated over the trailing 6-month period	14.18%	9.01%	+5.17%
Volatility (1Y) Calculated over the trailing 1-year period	18.30%	19.09%	-0.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.90%	16.32%	+3.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.12%	17.92%	+1.20%