EMERGING MARKETS EQUITY INDEX FUND
Fund
NOEMX
Price as of:
$10.87
+ $0.09
+ 0.83%
Primary Theme
fund company
Name
As of 04/24/2024Price
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
Vitals
YTD Return
1.5%
1 yr return
9.3%
3 Yr Avg Return
-6.8%
5 Yr Avg Return
1.1%
Net Assets
$1.56 B
Holdings in Top 10
26.5%
52 WEEK LOW AND HIGH
$10.8
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 0.31%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 20.35%
Redemption Fee 2.00%
Min Investment
Standard (Taxable)
$2,500
IRA
$500
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 04/24/2024Price
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
NOEMX - Profile
Distributions
- YTD Total Return 1.5%
- 3 Yr Annualized Total Return -6.8%
- 5 Yr Annualized Total Return 1.1%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 2.18%
- Dividend Yield 3.8%
- Dividend Distribution Frequency Annual
Fund Details
-
Legal NameEMERGING MARKETS EQUITY INDEX FUND
-
Fund Family NameNorthern Trust
-
Inception DateApr 25, 2006
-
Shares OutstandingN/A
-
Share ClassOther
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerRobert Anstine
Fund Description
Under normal circumstances, the Fund will invest substantially all (and at least 80%) of its net assets in equity securities, in weightings that approximate the relative composition of the securities included in the Index, in American Depositary Receipts (“ADRs”), European Depositary Receipts (“EDRs”), and Global Depositary Receipts (“GDRs”) representing such securities, and in MSCI Emerging Markets Index futures approved by the Commodity Futures Trading Commission. The Fund’s common stock investments also include China A‑shares (shares of companies based in mainland China that trade on the Shanghai Stock Exchange and the Shenzhen Stock Exchange).
The Index captures large and mid‑cap representation across 24 Emerging Markets countries, as determined by the index provider, and covers approximately 85% of the free float-adjusted market capitalization in each country as of May 31, 2023. As of May 31, 2023, the Index was comprised of 1,377 constituents with market capitalizations ranging from $95.49 million to $447.3 billion. It is rebalanced quarterly. The Fund generally rebalances its portfolio in accordance with the Index.
NTI uses a “passive” or indexing approach to try to achieve the Fund’s investment objective. Unlike many investment companies, the Fund does not try to “beat” the index it tracks and does not seek temporary defensive positions when markets decline or appear overvalued. NTI will buy and sell securities in response to changes in the Index as well as in response to subscriptions and redemptions.
The Fund generally invests in substantially all of the securities in the Index in approximately the same proportion as the Index (i.e., replication). In certain circumstances, however, the Fund may not hold every security in the Index or in the same proportion as the Index, such as to improve tax efficiency or when it may not be practicable to fully implement a replication
strategy. Rather, it will use an optimization strategy to seek to construct a portfolio that minimizes tracking error versus the Index while managing transaction costs and realized capital gains and losses.
The Fund intends to be diversified in approximately the same proportion as the Index is diversified. The Fund may become “non‑diversified,” as defined in the Investment Company Act of 1940 (the “1940 Act”), solely as a result of a change in relative market capitalization or index weighting of one or more constituents of the Index. A “non‑diversified” fund can invest a greater percentage of its assets in a small group of issuers or in any one issuer than a diversified fund can. Shareholder approval will not be sought if the Fund becomes non‑diversified due solely to a change in the relative market capitalization or index weighting of one or more constituents of the Index.
In seeking to track the performance of the Index, 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, countries or geographic regions. As of March 31, 2023, the Fund had focused investments in China, and in the financials and information technology sectors.
NTI expects that, under normal circumstances, the quarterly performance of the Fund, before fees and expenses, will track the performance of the Index within a 0.95 correlation coefficient.
The Index is created and sponsored by Morgan Stanley Capital International, Inc. (“MSCI”), as the index provider. MSCI determines the composition and relative weightings of the securities in the Index and publishes information regarding the market value of the Index. MSCI does not endorse any of the securities in the Index. It is not a sponsor of the Emerging Markets Equity Index Fund and is not affiliated with the Fund in any way.
NOEMX - Performance
Return Ranking - Trailing
| Period | NOEMX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 1.5% | -9.6% | 11.2% | 45.80% |
| 1 Yr | 9.3% | -9.4% | 31.2% | 47.35% |
| 3 Yr | -6.8%* | -24.1% | 7.4% | 50.72% |
| 5 Yr | 1.1%* | -7.8% | 10.8% | 62.03% |
| 10 Yr | 2.4%* | -3.1% | 6.2% | 51.26% |
* Annualized
Return Ranking - Calendar
| Period | NOEMX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 5.0% | -6.5% | 35.5% | 85.21% |
| 2022 | -22.4% | -50.1% | -2.4% | 31.05% |
| 2021 | -6.1% | -33.1% | 22.5% | 54.51% |
| 2020 | 14.9% | -22.1% | 80.1% | 60.28% |
| 2019 | 14.6% | -0.7% | 42.0% | 77.16% |
Total Return Ranking - Trailing
| Period | NOEMX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 1.5% | -9.6% | 11.2% | 45.80% |
| 1 Yr | 9.3% | -9.4% | 31.2% | 47.35% |
| 3 Yr | -6.8%* | -24.1% | 7.4% | 50.72% |
| 5 Yr | 1.1%* | -7.8% | 10.8% | 62.03% |
| 10 Yr | 2.4%* | -3.1% | 6.2% | 51.26% |
* Annualized
Total Return Ranking - Calendar
| Period | NOEMX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 9.1% | -2.7% | 42.0% | 65.81% |
| 2022 | -20.5% | -42.2% | 1.9% | 31.75% |
| 2021 | -3.4% | -32.5% | 33.1% | 64.55% |
| 2020 | 17.6% | -20.0% | 81.6% | 50.85% |
| 2019 | 18.3% | 2.3% | 42.0% | 69.33% |
NAV & Total Return History
NOEMX - Holdings
Concentration Analysis
| NOEMX | Category Low | Category High | NOEMX % Rank | |
|---|---|---|---|---|
| Net Assets | 1.56 B | 682 K | 103 B | 31.37% |
| Number of Holdings | 1503 | 10 | 7049 | 4.83% |
| Net Assets in Top 10 | 380 M | 118 K | 19.2 B | 33.78% |
| Weighting of Top 10 | 26.47% | 0.7% | 122.2% | 71.01% |
Top 10 Holdings
- Taiwan Semiconductor Manufacturing Co., Ltd. TWD10 6.48%
- Samsung Electronics Co Ltd. KRW100 3.97%
- FUT. ICUS MSCI EMG MAR24 3.47%
- Tencent Holdings Ltd. HKD0.00002 3.44%
- Northern Inst Fds GOVT PTFL 2.77%
- Alibaba Group Holding Ltd. USD0.000003125 2.15%
- Reliance Industries Ltd. INR10(100%DEMAT) 1.29%
- PDD Holdings Inc. SPON ADS EACH REP 4 ORD SHS 1.20%
- ICICI Bank Ltd. INR2 0.85%
- Infosys Ltd. INR5 0.84%
Asset Allocation
| Weighting | Return Low | Return High | NOEMX % Rank | |
|---|---|---|---|---|
| Stocks | 94.63% | 0.00% | 103.65% | 76.41% |
| Other | 3.47% | -1.64% | 50.31% | 1.47% |
| Cash | 2.77% | -2.03% | 99.29% | 31.37% |
| Preferred Stocks | 2.52% | 0.00% | 10.09% | 18.63% |
| Convertible Bonds | 0.00% | 0.00% | 7.40% | 43.32% |
| Bonds | 0.00% | 0.00% | 94.30% | 50.00% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | NOEMX % Rank | |
|---|---|---|---|---|
| Financial Services | 22.08% | 0.00% | 48.86% | 50.61% |
| Technology | 21.76% | 0.00% | 47.50% | 52.65% |
| Consumer Cyclical | 11.88% | 0.00% | 48.94% | 53.19% |
| Communication Services | 10.40% | 0.00% | 39.29% | 34.06% |
| Basic Materials | 9.51% | 0.00% | 30.03% | 32.97% |
| Consumer Defense | 5.52% | 0.00% | 25.90% | 65.94% |
| Industrials | 5.39% | 0.00% | 43.53% | 61.74% |
| Energy | 4.80% | 0.00% | 24.80% | 40.57% |
| Healthcare | 4.09% | 0.00% | 16.53% | 45.05% |
| Utilities | 2.52% | 0.00% | 39.12% | 31.48% |
| Real Estate | 2.06% | 0.00% | 17.15% | 37.31% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | NOEMX % Rank | |
|---|---|---|---|---|
| Non US | 91.16% | 0.00% | 100.18% | 30.03% |
| US | 3.47% | 0.00% | 101.58% | 80.03% |
NOEMX - Expenses
Operational Fees
| NOEMX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.31% | 0.03% | 24.48% | 95.56% |
| Management Fee | 0.14% | 0.00% | 2.00% | 2.95% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | N/A | 0.01% | 0.85% | 70.77% |
Sales Fees
| NOEMX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 3.50% | 5.75% | N/A |
| Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
| NOEMX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | 2.00% | 1.00% | 2.00% | 38.33% |
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.
| NOEMX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 20.35% | 0.00% | 189.00% | 14.64% |
NOEMX - Distributions
Dividend Yield Analysis
| NOEMX | Category Low | Category High | NOEMX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 3.81% | 0.00% | 10.26% | 12.47% |
Dividend Distribution Analysis
| NOEMX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Annual | Annually | Quarterly | Annual |
Net Income Ratio Analysis
| NOEMX | Category Low | Category High | NOEMX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 2.18% | -1.98% | 17.62% | 13.91% |
Capital Gain Distribution Analysis
| NOEMX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Quarterly | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Dec 21, 2023 | $0.414 | OrdinaryDividend |
| Dec 15, 2022 | $0.247 | OrdinaryDividend |
| Dec 16, 2021 | $0.377 | OrdinaryDividend |
| Dec 17, 2020 | $0.330 | OrdinaryDividend |
| Dec 19, 2019 | $0.395 | OrdinaryDividend |
| Dec 20, 2018 | $0.294 | OrdinaryDividend |
| Dec 21, 2017 | $0.224 | OrdinaryDividend |
| Dec 15, 2016 | $0.183 | OrdinaryDividend |
| Dec 17, 2015 | $0.223 | OrdinaryDividend |
| Dec 19, 2014 | $0.290 | OrdinaryDividend |
| Dec 20, 2013 | $0.226 | OrdinaryDividend |
| Dec 19, 2012 | $0.268 | OrdinaryDividend |
| Dec 19, 2011 | $0.154 | OrdinaryDividend |
| Dec 21, 2010 | $0.202 | OrdinaryDividend |
| Dec 21, 2009 | $0.118 | OrdinaryDividend |
| Dec 19, 2006 | $0.061 | OrdinaryDividend |
NOEMX - Fund Manager Analysis
Managers
Robert Anstine
Start Date
Tenure
Tenure Rank
Jul 31, 2019
2.84
2.8%
Robert Anstine is Vice President of NTI. Mr. Anstine joined NTI in 2011 and is responsible for managing various global index equity portfolios. In addition, he has been involved with the investment management of the FlexShares equity index funds since their inception. Prior to joining NTI and since 2007, Mr. Anstine worked at Northern Trust as an operations manager.
Brent Reeder
Start Date
Tenure
Tenure Rank
Jul 31, 2019
2.84
2.8%
Brent Reeder, Senior Vice President at The Northern Trust Company, Chicago, is the Team Leader-Domestic Index in the Quantitative Management Group of Northern Trust Global Investments (NTGI). Before his current role, he was a Portfolio Manager in the Quantitative Management Group of NTGI, responsible for the management of index portfolios. Brent has a broad range of expertise in both large capitalization and small capitalization index mandates. Prior to this, Brent spent five years in trust operations as a team leader of the Foundations and Endowments team. He received a B.A. degree in Economics from DePauw University and an M.B.A. degree in Finance from DePaul University. Brent is an Associated Person with the National Futures Association.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.09 | 33.71 | 6.54 | 13.42 |