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Name

As of 11/01/2024

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

SHORT BOND FUND

BSBAX | Fund

$18.22

$280 M

3.99%

$0.73

0.45%

Vitals

YTD Return

3.8%

1 yr return

5.5%

3 Yr Avg Return

1.2%

5 Yr Avg Return

1.5%

Net Assets

$280 M

Holdings in Top 10

55.6%

52 WEEK LOW AND HIGH

$18.2
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.45%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 45.52%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$2,500

IRA

$500

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 11/01/2024

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

SHORT BOND FUND

BSBAX | Fund

$18.22

$280 M

3.99%

$0.73

0.45%

BSBAX - Profile

Distributions

  • YTD Total Return 3.8%
  • 3 Yr Annualized Total Return 1.2%
  • 5 Yr Annualized Total Return 1.5%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.05%
DIVIDENDS
  • Dividend Yield 4.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    SHORT BOND FUND
  • Fund Family Name
    Northern Trust
  • Inception Date
    Jan 11, 2093
  • Shares Outstanding
    N/A
  • Share Class
    Other
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Mousumi Chinara

Fund Description

The Fund will seek capital appreciation and current income in its attempt to maximize total return. In doing so, the Fund will invest, under normal circumstances, at least 80% of its net assets in bonds and other fixed-income securities. These may include:
∎
Obligations of the U.S. government or its agencies, instrumentalities or sponsored enterprises, including obligations issued by private issuers that are guaranteed as to principal and interest by the U.S. government, its agencies or instrumentalities;
∎
Obligations of U.S. state and local governments, and foreign governments;
∎
Obligations of domestic and foreign banks and corporations;
∎
Debentures and convertible securities;
∎
Mortgage and other asset-backed securities;
∎
Inflation-indexed securities;
∎
Stripped securities evidencing ownership of future interest or principal payments on debt obligations; and
∎
Repurchase agreements relating to the above instruments.
The Fund may also seek to obtain exposure to these securities through investments in affiliated or unaffiliated investment companies, including exchange-traded funds (“ETFs”).
Although the Fund will generally invest primarily in investment grade domestic debt obligations (i.e., obligations rated within the top four rating categories by a Nationally Recognized Statistical Rating Organization (“NRSRO”) or of comparable quality as determined by NTI), it may also invest up to 20% of its total assets in domestic and foreign debt obligations that are rated below-investment grade (commonly referred to as “junk bonds”). Credit ratings are determined at the time of purchase.
The Fund may also invest in securities that are subject to resale restrictions such as those contained in Rule 144A promulgated under the Securities Act of 1933.
In buying and selling securities for the Fund, NTI 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 treasury, agency, asset-backed, mortgage-related and corporate securities) that the team believes will provide a favorable return in light of these risks.
The Fund’s dollar-weighted average maturity, under normal circumstances, will range between one and three years.
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, 2024, the Fund had a focused investment in the financials sector.
NTI may engage in active trading, and will not consider portfolio turnover a limiting factor in making decisions for the Fund.
Read More

BSBAX - Performance

Return Ranking - Trailing

Period BSBAX Return Category Return Low Category Return High Rank in Category (%)
YTD 3.8% -0.2% 17.1% 69.01%
1 Yr 5.5% 2.5% 21.9% 85.55%
3 Yr 1.2%* -5.7% 4.4% 53.77%
5 Yr 1.5%* -4.1% 5.3% 57.96%
10 Yr 1.6%* -18.9% 170.3% 57.39%

* Annualized

Return Ranking - Calendar

Period BSBAX Return Category Return Low Category Return High Rank in Category (%)
2023 1.9% -1.6% 7.6% 49.81%
2022 -5.8% -17.7% -2.6% 22.91%
2021 -1.6% -4.0% 4.4% 51.10%
2020 1.6% -7.1% 7.6% 52.04%
2019 2.4% -2.3% 9.3% 28.90%

Total Return Ranking - Trailing

Period BSBAX Return Category Return Low Category Return High Rank in Category (%)
YTD 3.8% -0.2% 17.1% 69.01%
1 Yr 5.5% 2.5% 21.9% 85.55%
3 Yr 1.2%* -5.7% 4.4% 53.77%
5 Yr 1.5%* -4.1% 5.3% 57.96%
10 Yr 1.6%* -18.9% 170.3% 57.39%

* Annualized

Total Return Ranking - Calendar

Period BSBAX Return Category Return Low Category Return High Rank in Category (%)
2023 4.8% 1.8% 15.2% 77.10%
2022 -4.4% -17.3% -1.3% 36.50%
2021 -0.4% -2.7% 7.7% 62.67%
2020 3.7% -2.4% 14.5% 67.76%
2019 5.2% 0.6% 12.6% 32.07%

NAV & Total Return History

BSBAX - Holdings

Concentration Analysis

BSBAX Category Low Category High BSBAX % Rank
Net Assets 280 M 14.5 K 57.3 B 78.52%
Number of Holdings 186 2 8314 77.57%
Net Assets in Top 10 145 M 1.05 M 6.81 B 64.45%
Weighting of Top 10 55.64% 1.9% 112.6% 11.22%

Top 10 Holdings

  1. T 4.125 06/15/26 12.61%
  2. T 4.625 11/15/26 10.47%
  3. T 4 02/15/26 9.22%
  4. T 4.5 11/30/24 6.27%
  5. T 4.75 07/31/25 5.72%
  6. Northern Inst Fds GOVT PTFL 3.35%
  7. SEP 24 US 2YR SEP 24 2.82%
  8. COMET 2021-A1 A1 1.91%
  9. FUT. CBT ULT TNOTE SEP24 1.74%
  10. JPMBB 2015-C28 A4 1.54%

Asset Allocation

Weighting Return Low Return High BSBAX % Rank
Bonds 		88.22% 0.00% 129.40% 47.34%
Other 		12.30% -0.97% 71.57% 38.40%
Convertible Bonds 		5.69% 0.00% 27.71% 8.38%
Cash 		3.35% -20.59% 71.38% 40.68%
Stocks 		0.00% 0.00% 99.96% 98.10%
Preferred Stocks 		0.00% 0.00% 24.12% 98.10%

Bond Sector Breakdown

Weighting Return Low Return High BSBAX % Rank
Corporate 		63.55% 0.00% 99.82% 12.95%
Securitized 		20.04% 0.00% 97.27% 71.62%
Government 		9.84% 0.00% 73.63% 67.81%
Derivative 		4.55% -0.44% 27.90% 3.61%
Cash & Equivalents 		3.35% 0.00% 71.38% 38.59%
Municipal 		1.57% 0.00% 14.41% 12.00%

Bond Geographic Breakdown

Weighting Return Low Return High BSBAX % Rank
US 		88.22% 0.00% 126.86% 43.16%
Non US 		0.00% 0.00% 82.20% 98.67%

BSBAX - Expenses

Operational Fees

BSBAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.45% 0.01% 3.29% 74.81%
Management Fee 0.38% 0.00% 1.19% 72.05%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.41% 85.81%

Sales Fees

BSBAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.50% 5.75% N/A
Deferred Load N/A 0.50% 4.00% N/A

Trading Fees

BSBAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% N/A

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.

BSBAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 45.52% 2.00% 500.00% 25.97%

BSBAX - Distributions

Dividend Yield Analysis

BSBAX Category Low Category High BSBAX % Rank
Dividend Yield 3.99% 0.00% 11.11% 85.93%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

BSBAX Category Low Category High BSBAX % Rank
Net Income Ratio 1.05% -1.27% 4.98% 57.83%

Capital Gain Distribution Analysis

BSBAX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Distributions History

View More +

BSBAX - Fund Manager Analysis

Managers

Mousumi Chinara

Start Date

Tenure

Tenure Rank

Jul 31, 2019

2.84

2.8%

Ms. Chinara joined NTI in 2019 and is a senior portfolio manager in the Fixed Income group, where she manages ultra-short and active long duration portfolios. Mr. Memon joined NTI in 2007 and is a portfolio Manager in the Short Duration Fixed Income Group. Mr. Memon also is a portfolio manager for the Ultra-Short Fixed Income Fund.

Bilal Memon

Start Date

Tenure

Tenure Rank

Jul 31, 2019

2.84

2.8%

Bilal Memon is Vice President of NTI. Mr. Memon joined NTI in 2007 and is responsible for managing various short duration portfolios.Prior to joining Northern Trust in 2007, he was with Ford Motor Company for three years. He joined them as the Associate Director of Pension Asset Management, became a Fixed Income Portfolio Manager in 2005, and finally became part of the Treasury Staff in 2006.Bilal received his B.A degree in Economics from The University of Chicago and his M.B.A. degree in Analytical Finance and Marketing Management from The University of Chicago Graduate School of Business.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.07 28.77 6.19 2.41

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