HIGH YIELD FIXED INCOME FUND
Fund
NHFIX
Price as of:
$6.09
+ $0.01
+ 0.16%
Primary Theme
fund company
Name
As of 11/19/2024Price
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
7.6%
1 yr return
12.9%
3 Yr Avg Return
2.8%
5 Yr Avg Return
4.5%
Net Assets
$2.81 B
Holdings in Top 10
11.2%
52 WEEK LOW AND HIGH
$6.1
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 11/19/2024Price
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
NHFIX - Profile
Distributions
- YTD Total Return 7.6%
- 3 Yr Annualized Total Return 2.8%
- 5 Yr Annualized Total Return 4.5%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 5.17%
- Dividend Yield 6.7%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameHIGH YIELD FIXED INCOME FUND
-
Fund Family NameNorthern Trust
-
Inception DateDec 31, 2098
-
Shares OutstandingN/A
-
Share ClassOther
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerEric 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.
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, 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, 2024, 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.
NHFIX - Performance
Return Ranking - Trailing
| Period | NHFIX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 7.6% | -7.0% | 15.5% | 52.12% |
| 1 Yr | 12.9% | -1.8% | 17.8% | 40.07% |
| 3 Yr | 2.8%* | -14.3% | 21.4% | 46.09% |
| 5 Yr | 4.5%* | -11.1% | 37.3% | 28.22% |
| 10 Yr | 4.4%* | -4.9% | 20.1% | 31.22% |
* Annualized
Return Ranking - Calendar
| Period | NHFIX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 6.4% | -4.7% | 14.3% | 15.36% |
| 2022 | -16.8% | -33.4% | 3.6% | 72.94% |
| 2021 | 0.0% | -8.4% | 8.2% | 53.25% |
| 2020 | 0.0% | -13.2% | 302.7% | 49.03% |
| 2019 | 8.8% | -4.4% | 13.3% | 29.95% |
Total Return Ranking - Trailing
| Period | NHFIX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 7.6% | -7.0% | 15.5% | 52.12% |
| 1 Yr | 12.9% | -1.8% | 17.8% | 40.07% |
| 3 Yr | 2.8%* | -14.3% | 21.4% | 46.09% |
| 5 Yr | 4.5%* | -11.1% | 37.3% | 28.22% |
| 10 Yr | 4.4%* | -4.9% | 20.1% | 31.22% |
* Annualized
Total Return Ranking - Calendar
| Period | NHFIX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 13.3% | -4.7% | 18.7% | 18.46% |
| 2022 | -11.8% | -33.4% | 47.8% | 73.76% |
| 2021 | 5.4% | -8.4% | 12.4% | 41.10% |
| 2020 | 6.0% | -9.6% | 325.6% | 37.57% |
| 2019 | 16.1% | -3.8% | 19.4% | 9.26% |
NAV & Total Return History
NHFIX - Holdings
Concentration Analysis
| NHFIX | Category Low | Category High | NHFIX % Rank | |
|---|---|---|---|---|
| Net Assets | 2.81 B | 3.13 M | 23.6 B | 17.43% |
| Number of Holdings | 524 | 2 | 3879 | 30.77% |
| Net Assets in Top 10 | 297 M | -492 M | 5.25 B | 25.53% |
| Weighting of Top 10 | 11.24% | 4.2% | 146.0% | 66.94% |
Top 10 Holdings
- FUT. CBT ULT TNOTE SEP24 5.56%
- THC 4.375 01/15/30 0.84%
- CHTR 5 02/01/28 144A 0.83%
- Northern Inst Fds GOVT PTFL 0.80%
- VENLNG 9.5 02/01/29 144A 0.58%
- ALVOGN L 06/30/25 7 0.56%
- RCL 5.5 08/31/26 144A 0.55%
- VENLNG 8.375 06/01/31 144A 0.52%
- CTLT 3.5 04/01/30 144A 0.50%
- AAL 5.75 04/20/29 144A 0.50%
Asset Allocation
| Weighting | Return Low | Return High | NHFIX % Rank | |
|---|---|---|---|---|
| Bonds | 97.99% | 0.00% | 145.36% | 15.64% |
| Other | 5.56% | -39.08% | 99.96% | 4.58% |
| Convertible Bonds | 2.07% | 0.00% | 17.89% | 23.24% |
| Cash | 0.80% | -52.00% | 48.02% | 87.73% |
| Stocks | 0.05% | 0.00% | 99.64% | 66.61% |
| Preferred Stocks | 0.00% | 0.00% | 4.97% | 94.93% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | NHFIX % Rank | |
|---|---|---|---|---|
| Utilities | 0.00% | 0.00% | 100.00% | 70.29% |
| Technology | 0.00% | 0.00% | 33.17% | 71.11% |
| Real Estate | 0.00% | 0.00% | 86.71% | 68.03% |
| Industrials | 0.00% | 0.00% | 93.12% | 72.95% |
| Healthcare | 0.00% | 0.00% | 22.17% | 69.88% |
| Financial Services | 0.00% | 0.00% | 100.00% | 73.98% |
| Energy | 0.00% | 0.00% | 100.00% | 9.22% |
| Communication Services | 0.00% | 0.00% | 99.99% | 79.71% |
| Consumer Defense | 0.00% | 0.00% | 100.00% | 68.65% |
| Consumer Cyclical | 0.00% | 0.00% | 100.00% | 74.18% |
| Basic Materials | 0.00% | 0.00% | 100.00% | 75.82% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | NHFIX % Rank | |
|---|---|---|---|---|
| US | 0.05% | 0.00% | 99.64% | 64.98% |
| Non US | 0.00% | -0.01% | 0.83% | 92.31% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | NHFIX % Rank | |
|---|---|---|---|---|
| Corporate | 100.00% | 0.00% | 100.00% | 0.49% |
| Derivative | 5.56% | -14.19% | 42.26% | 2.45% |
| Cash & Equivalents | 0.80% | 0.00% | 48.02% | 78.56% |
| Securitized | 0.00% | 0.00% | 97.24% | 96.39% |
| Municipal | 0.00% | 0.00% | 1.17% | 91.48% |
| Government | 0.00% | 0.00% | 99.07% | 94.59% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | NHFIX % Rank | |
|---|---|---|---|---|
| US | 97.99% | 0.00% | 126.57% | 11.29% |
| Non US | 0.00% | 0.00% | 96.91% | 94.27% |
NHFIX - Expenses
Operational Fees
| NHFIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.65% | 0.02% | 38.33% | 82.03% |
| Management Fee | 0.58% | 0.00% | 1.75% | 57.42% |
| 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% | 32.14% |
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% | 7.69% |
NHFIX - Distributions
Dividend Yield Analysis
| NHFIX | Category Low | Category High | NHFIX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 6.65% | 0.00% | 11.76% | 51.22% |
Dividend Distribution Analysis
| NHFIX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Monthly | SemiAnnual | Monthly | Monthly |
Net Income Ratio Analysis
| NHFIX | Category Low | Category High | NHFIX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 5.17% | -2.39% | 9.30% | 14.67% |
Capital Gain Distribution Analysis
| NHFIX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Semi-Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Oct 24, 2024 | $0.034 | OrdinaryDividend |
| Sep 24, 2024 | $0.032 | OrdinaryDividend |
| Aug 26, 2024 | $0.038 | OrdinaryDividend |
| Mar 25, 2024 | $0.031 | OrdinaryDividend |
| Feb 26, 2024 | $0.035 | OrdinaryDividend |
| Jan 25, 2024 | $0.038 | OrdinaryDividend |
| Dec 21, 2023 | $0.033 | OrdinaryDividend |
| Oct 24, 2023 | $0.036 | OrdinaryDividend |
| Sep 21, 2023 | $0.029 | OrdinaryDividend |
| Aug 24, 2023 | $0.033 | OrdinaryDividend |
| Jul 24, 2023 | $0.033 | OrdinaryDividend |
| Jun 22, 2023 | $0.031 | OrdinaryDividend |
| May 24, 2023 | $0.032 | OrdinaryDividend |
| Apr 24, 2023 | $0.034 | OrdinaryDividend |
| Mar 23, 2023 | $0.030 | OrdinaryDividend |
| Feb 23, 2023 | $0.032 | OrdinaryDividend |
| Jan 24, 2023 | $0.041 | OrdinaryDividend |
| Dec 15, 2022 | $0.032 | OrdinaryDividend |
| Nov 22, 2022 | $0.029 | OrdinaryDividend |
| Oct 24, 2022 | $0.031 | OrdinaryDividend |
| Sep 22, 2022 | $0.028 | OrdinaryDividend |
| Aug 24, 2022 | $0.032 | OrdinaryDividend |
| Jul 21, 2022 | $0.027 | OrdinaryDividend |
| Jun 23, 2022 | $0.028 | OrdinaryDividend |
| May 24, 2022 | $0.031 | OrdinaryDividend |
| Apr 21, 2022 | $0.026 | OrdinaryDividend |
| Mar 24, 2022 | $0.023 | OrdinaryDividend |
| Feb 24, 2022 | $0.030 | OrdinaryDividend |
| Jan 24, 2022 | $0.037 | OrdinaryDividend |
| Dec 16, 2021 | $0.030 | OrdinaryDividend |
| Nov 23, 2021 | $0.027 | OrdinaryDividend |
| Oct 25, 2021 | $0.030 | OrdinaryDividend |
| Sep 23, 2021 | $0.028 | OrdinaryDividend |
| Aug 24, 2021 | $0.029 | OrdinaryDividend |
| Jul 26, 2021 | $0.031 | OrdinaryDividend |
| Jun 24, 2021 | $0.031 | OrdinaryDividend |
| May 24, 2021 | $0.032 | OrdinaryDividend |
| Apr 22, 2021 | $0.027 | OrdinaryDividend |
| Mar 24, 2021 | $0.028 | OrdinaryDividend |
| Feb 24, 2021 | $0.030 | OrdinaryDividend |
| Jan 25, 2021 | $0.038 | OrdinaryDividend |
| Dec 17, 2020 | $0.023 | OrdinaryDividend |
| Nov 24, 2020 | $0.027 | OrdinaryDividend |
| Oct 26, 2020 | $0.032 | OrdinaryDividend |
| Sep 24, 2020 | $0.026 | OrdinaryDividend |
| Aug 24, 2020 | $0.032 | OrdinaryDividend |
| Jul 23, 2020 | $0.029 | OrdinaryDividend |
| Jun 24, 2020 | $0.029 | OrdinaryDividend |
| May 26, 2020 | $0.036 | OrdinaryDividend |
| Apr 23, 2020 | $0.029 | OrdinaryDividend |
| Mar 24, 2020 | $0.032 | OrdinaryDividend |
| Feb 24, 2020 | $0.035 | OrdinaryDividend |
| Jan 23, 2020 | $0.038 | OrdinaryDividend |
| Dec 19, 2019 | $0.031 | OrdinaryDividend |
| Nov 21, 2019 | $0.031 | OrdinaryDividend |
| Oct 24, 2019 | $0.033 | OrdinaryDividend |
| Sep 24, 2019 | $0.032 | OrdinaryDividend |
| Aug 26, 2019 | $0.038 | OrdinaryDividend |
| Jul 24, 2019 | $0.034 | OrdinaryDividend |
| Dec 18, 2014 | $0.033 | CapitalGainShortTerm |
| Dec 18, 2014 | $0.105 | CapitalGainLongTerm |
| Dec 19, 2013 | $0.014 | CapitalGainShortTerm |
| Dec 19, 2013 | $0.134 | CapitalGainLongTerm |
| Feb 26, 2001 | $0.081 | OrdinaryDividend |
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 | 7.32 | 8.17 |