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Trending ETFs

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

$7.48

$391 M

3.50%

$0.26

0.65%

Vitals

YTD Return

5.1%

1 yr return

13.0%

3 Yr Avg Return

-2.3%

5 Yr Avg Return

0.2%

Net Assets

$391 M

Holdings in Top 10

15.8%

52 WEEK LOW AND HIGH

$7.5
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.65%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 21.90%

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

$7.48

$391 M

3.50%

$0.26

0.65%

NHYMX - Profile

Distributions

  • YTD Total Return 5.1%
  • 3 Yr Annualized Total Return -2.3%
  • 5 Yr Annualized Total Return 0.2%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 3.05%
DIVIDENDS
  • Dividend Yield 3.5%
  • Dividend Distribution Frequency Monthly

Fund Details

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

Fund Description

In seeking high current income exempt from regular federal income tax, the Fund will invest, under normal circumstances, at least 65% of its net assets in rated and unrated municipal instruments that are of low quality (commonly referred to as “junk bonds”) or medium or upper medium quality. A municipal instrument is a fixed-income obligation issued by a state, territory or possession of the United States (including the District of Columbia) or a political subdivision, agency or instrumentality thereof. Interest income received by holders of municipal instruments is often exempt from the federal income tax and from the income tax of the state in which they are issued, although municipal instruments issued for certain purposes may not be tax-exempt. The municipal instruments in which the Fund invests may include:
General obligation bonds secured by the issuer’s full faith, credit and taxing power;
Revenue obligation bonds payable from the revenues derived from a particular facility or class of facilities;
Industrial development bonds;
Moral obligation bonds;
Tax-exempt derivative instruments;
Stand-by commitments; and
Municipal instruments backed by letters of credit, insurance or other forms of credit enhancement issued by domestic or foreign banks, insurance companies and other financial companies.
Upper medium quality securities are rated A by a Nationally Recognized Statistical Rating Organization (“NRSRO”), and medium quality securities are rated BBB or Baa by a NRSRO.
Lower quality or below investment-grade securities are rated BB, Ba or lower by a 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 municipal instrument purchased or held by the Fund, and the Fund may purchase securities that are in default. Although the Fund primarily invests in low, medium or upper medium quality securities, it may invest a portion of its assets in securities of higher quality.
Except in extraordinary circumstances, at least 80% of the Fund’s net assets will be invested in debt instruments that pay interest that is exempt from regular federal income tax. The Fund is not limited in the amount of its assets that may be invested in alternative minimum tax (“AMT”) obligations (also known as “private activity bonds”), which pay interest that may be treated as an item of tax preference to shareholders under the federal AMT. For shareholders subject to AMT, a significant portion of the Fund’s dividends may be subject to federal tax.
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 corporate-backed municipal bonds and revenue obligation bonds) that NTI believes will provide a favorable return in light of these risks.
NTI may engage in active trading, and will not consider portfolio turnover a limiting factor in making decisions for the Fund.
The Fund does not have any portfolio maturity limitations, and may invest its assets from time to time primarily in instruments with short, medium or long maturities.
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NHYMX - Performance

Return Ranking - Trailing

Period NHYMX Return Category Return Low Category Return High Rank in Category (%)
YTD 5.1% -2.2% 11.2% 39.71%
1 Yr 13.0% 1.9% 21.3% 54.90%
3 Yr -2.3%* -8.6% 2.8% 88.94%
5 Yr 0.2%* -5.1% 3.7% 84.69%
10 Yr 2.1%* -0.5% 155.4% 79.07%

* Annualized

Return Ranking - Calendar

Period NHYMX Return Category Return Low Category Return High Rank in Category (%)
2023 1.1% -6.2% 7.5% 82.35%
2022 -20.1% -26.9% -3.5% 85.57%
2021 1.9% -1.9% 5.6% 64.14%
2020 0.4% -4.0% 4.2% 53.30%
2019 4.6% -0.7% 9.1% 70.68%

Total Return Ranking - Trailing

Period NHYMX Return Category Return Low Category Return High Rank in Category (%)
YTD 5.1% -2.2% 11.2% 39.71%
1 Yr 13.0% 1.9% 21.3% 54.90%
3 Yr -2.3%* -8.6% 2.8% 88.94%
5 Yr 0.2%* -5.1% 3.7% 84.69%
10 Yr 2.1%* -0.5% 155.4% 79.07%

* Annualized

Total Return Ranking - Calendar

Period NHYMX Return Category Return Low Category Return High Rank in Category (%)
2023 5.6% -4.1% 10.9% 71.08%
2022 -17.0% -26.9% 4.3% 86.57%
2021 5.2% -1.9% 10.0% 57.58%
2020 4.3% -2.6% 8.2% 29.95%
2019 6.9% -0.7% 1028633.9% 86.39%

NAV & Total Return History


NHYMX - Holdings

Concentration Analysis

NHYMX Category Low Category High NHYMX % Rank
Net Assets 391 M 9.79 K 16.6 B 67.82%
Number of Holdings 280 1 3325 69.65%
Net Assets in Top 10 58.9 M -102 M 3.51 B 75.12%
Weighting of Top 10 15.75% 4.6% 98.8% 32.00%

Top 10 Holdings

  1. Northern Inst Fds GOVT PTFL 5.16%
  2. WA WAS 5 06/01/2044 1.47%
  3. VI MFCFAC 5 10/01/2039 1.38%
  4. CA CASFIN 5 12/31/2043 1.36%
  5. MA MASTRN 5 06/01/2050 1.30%
  6. NY NYTTRN 5 01/01/2034 1.10%
  7. TX TAREDU 5 11/15/2046 1.04%
  8. GA MAIUTL 12/01/2054 0.99%
  9. WA SNOSCD 5 12/01/2031 0.98%
  10. OK PAYEDU 5 09/01/2031 0.97%

Asset Allocation

Weighting Return Low Return High NHYMX % Rank
Bonds
97.29% 0.00% 146.69% 70.10%
Cash
5.16% -0.64% 100.00% 8.96%
Stocks
0.00% 0.00% 99.62% 73.53%
Preferred Stocks
0.00% -47.61% 0.00% 63.18%
Other
0.00% -5.59% 5.07% 61.69%
Convertible Bonds
0.00% 0.00% 0.00% 59.70%

Bond Sector Breakdown

Weighting Return Low Return High NHYMX % Rank
Municipal
99.65% 0.00% 100.00% 19.90%
Cash & Equivalents
5.16% 0.00% 100.00% 6.97%
Corporate
0.34% 0.00% 2.83% 39.30%
Derivative
0.00% -7.53% 2.16% 58.71%
Securitized
0.00% 0.00% 22.44% 60.70%
Government
0.00% 0.00% 0.09% 62.69%

Bond Geographic Breakdown

Weighting Return Low Return High NHYMX % Rank
US
97.29% 0.00% 139.84% 66.67%
Non US
0.00% 0.00% 13.35% 63.68%

NHYMX - Expenses

Operational Fees

NHYMX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.65% 0.22% 3.44% 82.27%
Management Fee 0.56% 0.00% 1.41% 81.37%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.02% 0.35% 81.58%

Sales Fees

NHYMX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 1.00% 4.50% N/A
Deferred Load N/A 1.00% 4.00% N/A

Trading Fees

NHYMX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A N/A N/A 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.

NHYMX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 21.90% 2.00% 121.00% 55.03%

NHYMX - Distributions

Dividend Yield Analysis

NHYMX Category Low Category High NHYMX % Rank
Dividend Yield 3.50% 0.00% 5.94% 37.75%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

NHYMX Category Low Category High NHYMX % Rank
Net Income Ratio 3.05% 1.11% 5.44% 56.37%

Capital Gain Distribution Analysis

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

Distributions History

View More +

NHYMX - Fund Manager Analysis

Managers

Adam Shane


Start Date

Tenure

Tenure Rank

Aug 17, 2018

3.79

3.8%

Mr. Shane joined NTI in 2010 and has served as the director of fixed income research.

Stephanie Woeppel


Start Date

Tenure

Tenure Rank

Aug 17, 2018

3.79

3.8%

Ms. Woeppel joined NTI in 2012 and has served as the director of municipal credit research and as a senior research analyst.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.25 21.43 7.55 2.52