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Name

As of 04/19/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

HIGH YIELD FIXED INCOME FUND

NHFIX | Fund

$5.86

$2.72 B

0.00%

0.65%

Vitals

YTD Return

0.1%

1 yr return

8.5%

3 Yr Avg Return

1.0%

5 Yr Avg Return

3.4%

Net Assets

$2.72 B

Holdings in Top 10

10.3%

52 WEEK LOW AND HIGH

$5.9
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.65%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 30.32%

Redemption Fee 2.00%

Min Investment

Standard (Taxable)

$2,500

IRA

$500

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 04/19/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

HIGH YIELD FIXED INCOME FUND

NHFIX | Fund

$5.86

$2.72 B

0.00%

0.65%

NHFIX - Profile

Distributions

  • YTD Total Return 0.1%
  • 3 Yr Annualized Total Return 1.0%
  • 5 Yr Annualized Total Return 3.4%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 5.17%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    HIGH YIELD FIXED INCOME FUND
  • Fund Family Name
    Northern Trust
  • Inception Date
    Dec 31, 2098
  • Shares Outstanding
    N/A
  • Share Class
    Other
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Eric Williams

Fund Description

In seeking to achieve its investment objective, the Fund will invest, under normal circumstances, at least 80% of its net assets in lower quality bonds and other fixed-income securities (commonly referred to as “junk bonds”). These may include:
∎
Obligations of U.S. and foreign corporations and banks;
∎
Obligations of U.S. state and local governments, and foreign governments;
∎
Obligations of the U.S. government or its agencies, instrumentalities or sponsored enterprises, including obligations that are issued by private issuers that are guaranteed as to principal and interest by the U.S. or foreign governments, their agencies or instrumentalities;
∎
Senior and subordinated bonds and debentures;
∎
Zero coupon, pay‑in‑kind and capital appreciation bonds;
∎
Convertible securities, preferred stock, structured securities and loan participations;
∎
Inflation-indexed securities;
∎
Warrants, rights and other equity securities that are acquired in connection with the Fund’s investments in debt or convertible securities; and
∎
Repurchase agreements relating to the above instruments.
Lower quality or below-investment grade securities are rated BB, Ba or lower by a Nationally Recognized Statistical Rating Organization (“NRSRO”), or unrated securities determined to be of comparable quality by NTI. Credit ratings are determined at the time of purchase.
There is no minimum rating for a security purchased or held by the Fund, and the Fund may purchase securities that are in default.
In buying and selling securities for the Fund, the Fund’s investment adviser uses a relative value approach. This approach involves an analysis of general economic and market conditions. It also involves the use of models that analyze and compare expected returns and assumed risks. Under the relative value approach, NTI will emphasize particular securities and types of securities (such as asset-backed, mortgage-backed and corporate securities) that the team believes will provide a favorable return in light of the risks. NTI also may consider obligations with a more favorable or improving credit or industry outlook that provide the potential for capital appreciation.
The Fund does not have any portfolio maturity limitation, and may invest its assets from time to time in instruments with short, medium or long maturities. From time to time the Fund may have a focused investment (i.e., investment exposure comprising more than 15% of its total assets) in one or more particular sectors. As of March 31, 2023, the Fund had a focused investment in the industrials sector.
NTI may engage in active trading, and will not consider portfolio turnover a limiting factor in making decisions for the Fund.
Read More

NHFIX - Performance

Return Ranking - Trailing

Period NHFIX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.1% -7.2% 5.7% 82.57%
1 Yr 8.5% -8.9% 16.0% 37.32%
3 Yr 1.0%* -16.2% 19.9% 57.96%
5 Yr 3.4%* -12.0% 36.4% 30.09%
10 Yr 3.5%* -4.9% 19.3% 33.80%

* Annualized

Return Ranking - Calendar

Period NHFIX Return Category Return Low Category Return High Rank in Category (%)
2023 6.4% -4.7% 14.3% 15.63%
2022 -16.8% -33.4% 3.6% 73.19%
2021 0.0% -8.4% 14.9% 51.72%
2020 0.0% -13.9% 302.7% 48.90%
2019 8.8% -4.4% 13.3% 29.34%

Total Return Ranking - Trailing

Period NHFIX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.1% -7.2% 5.7% 82.57%
1 Yr 8.5% -8.9% 16.0% 37.32%
3 Yr 1.0%* -16.2% 19.9% 57.96%
5 Yr 3.4%* -12.0% 36.4% 30.09%
10 Yr 3.5%* -4.9% 19.3% 33.80%

* Annualized

Total Return Ranking - Calendar

Period NHFIX Return Category Return Low Category Return High Rank in Category (%)
2023 13.3% -4.7% 18.2% 18.59%
2022 -11.8% -33.4% 47.8% 73.50%
2021 5.4% -8.4% 24.8% 40.39%
2020 6.0% -9.6% 325.6% 36.89%
2019 16.1% 0.9% 21.5% 9.03%

NAV & Total Return History

NHFIX - Holdings

Concentration Analysis

NHFIX Category Low Category High NHFIX % Rank
Net Assets 2.72 B 1.45 M 23.6 B 16.36%
Number of Holdings 496 2 2736 30.39%
Net Assets in Top 10 270 M -492 M 4.45 B 21.40%
Weighting of Top 10 10.27% 4.2% 146.9% 78.45%

Top 10 Holdings

  1. US T-NOTE ULTRA 10Y 2.67%
  2. Northern Inst Fds GOVT PTFL 2.56%
  3. THC 4.375 01/15/30 0.90%
  4. CHTR 5 02/01/28 144A 0.88%
  5. ALVOGN L 06/30/25 7 0.61%
  6. RCL 5.5 08/31/26 144A 0.56%
  7. SIRI 3.875 09/01/31 144A 0.56%
  8. VENLNG 8.375 06/01/31 144A 0.54%
  9. CYH 5.25 05/15/30 144A 0.51%
  10. CHTR 4.75 02/01/32 144A 0.48%

Asset Allocation

Weighting Return Low Return High NHFIX % Rank
Bonds 		95.69% -3.13% 154.38% 37.35%
Other 		2.67% -63.70% 102.57% 7.60%
Cash 		2.56% -52.00% 48.07% 66.51%
Convertible Bonds 		2.07% 0.00% 17.89% 21.71%
Stocks 		0.00% 0.00% 99.54% 91.98%
Preferred Stocks 		0.00% 0.00% 7.88% 82.02%

Bond Sector Breakdown

Weighting Return Low Return High NHFIX % Rank
Corporate 		100.00% 0.00% 129.69% 0.78%
Derivative 		2.67% -15.04% 42.26% 3.41%
Cash & Equivalents 		2.56% 0.00% 48.07% 53.64%
Securitized 		0.00% 0.00% 97.24% 85.56%
Municipal 		0.00% 0.00% 4.66% 72.83%
Government 		0.00% 0.00% 99.07% 79.19%

Bond Geographic Breakdown

Weighting Return Low Return High NHFIX % Rank
US 		95.69% -3.13% 129.21% 26.98%
Non US 		0.00% 0.00% 98.19% 80.62%

NHFIX - Expenses

Operational Fees

NHFIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.65% 0.04% 31.61% 82.64%
Management Fee 0.58% 0.00% 1.84% 56.57%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.00% 0.50% 78.31%

Sales Fees

NHFIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.25% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

NHFIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee 2.00% 1.00% 2.00% 21.43%

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

NHFIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 30.32% 1.00% 255.00% 7.48%

NHFIX - Distributions

Dividend Yield Analysis

NHFIX Category Low Category High NHFIX % Rank
Dividend Yield 0.00% 0.00% 11.76% 46.22%

Dividend Distribution Analysis

NHFIX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Monthly Monthly Monthly

Net Income Ratio Analysis

NHFIX Category Low Category High NHFIX % Rank
Net Income Ratio 5.17% -2.39% 14.30% 15.62%

Capital Gain Distribution Analysis

NHFIX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Semi-Annually Annually

Distributions History

View More +

NHFIX - Fund Manager Analysis

Managers

Eric Williams

Start Date

Tenure

Tenure Rank

Oct 21, 2016

5.61

5.6%

Mr. Williams joined NTI in January 2010 and has assisted in the management of various fixed income funds

Benjamin Mccubbin

Start Date

Tenure

Tenure Rank

Sep 29, 2020

1.67

1.7%

BENJAMIN J. MCCUBBIN serves as a Fixed Income Associate where he works closely with the Director of Fixed Income Research to manage Howe & Rusling’s fixed income portfolios. Prior to joining Howe & Rusling he worked as an assistant within the fixed income research group at Manning & Napier for two years. Ben graduated from Syracuse University in three years with a bachelor’s degree in finance. Ben has completed level 3 of the CFA.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.13 37.79 7.12 8.17

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