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Trending ETFs

Name

As of 11/19/2024

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

$8.51

$187 M

6.94%

$0.59

0.77%

Vitals

YTD Return

6.9%

1 yr return

12.9%

3 Yr Avg Return

3.0%

5 Yr Avg Return

4.9%

Net Assets

$187 M

Holdings in Top 10

11.5%

52 WEEK LOW AND HIGH

$8.5
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.77%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 64.94%

Redemption Fee 2.00%


Min Investment

Standard (Taxable)

$2,500

IRA

$500


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 11/19/2024

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

$8.51

$187 M

6.94%

$0.59

0.77%

NMHYX - Profile

Distributions

  • YTD Total Return 6.9%
  • 3 Yr Annualized Total Return 3.0%
  • 5 Yr Annualized Total Return 4.9%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 4.68%
DIVIDENDS
  • Dividend Yield 6.9%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    MULTI-MANAGER HIGH YIELD OPPORTUNITY FUND
  • Fund Family Name
    Northern Trust
  • Inception Date
    Sep 23, 2009
  • Shares Outstanding
    N/A
  • Share Class
    Other
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Christopher Vella

Fund Description

In seeking to achieve its investment objective, the Fund will invest, under normal circumstances, at least 80% of its net assets in bonds and other fixed-income securities that are rated below investment grade (commonly referred to as “junk bonds”). These may include:
Obligations of U.S. and foreign corporations and banks;
Senior and subordinated bonds and debentures;
Zero coupon, pay-in-kind and capital appreciation bonds;
Convertible securities, preferred stock, structured securities; and
Loans and loan participations.
The sub-advisers may shift the Fund’s assets among various types of securities based upon changing market conditions, yield differences and the credit-worthiness of issuers among other things.
Lower quality securities 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 one or more of the Fund’s sub-advisers. 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 does not have any portfolio maturity limitation, and may invest its assets from time to time primarily in instruments with short, medium or long maturities.
Although the Fund primarily invests in the debt obligations of domestic issuers, it may invest in debt obligations of foreign issuers. The Fund’s investments in foreign issuers together with notional underlying foreign currency exposure are not expected to exceed 30%.
The Fund may invest up to 15% of its net assets in “illiquid investments,” i.e. those that the Fund reasonably expects cannot be sold or disposed of in current market conditions within seven calendar days or less without the sale or disposition significantly changing the market value of the investment. 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.
The Fund utilizes a “multi-manager” approach whereby the Fund’s assets are allocated to one or more sub-advisers, in percentages determined at the discretion of NTI. Each sub-adviser acts independently from the others and utilizes its own distinct investment style in selecting securities. However, each sub-adviser must operate within the constraints of the Fund’s investment objective, strategies and restrictions.
When determining the allocations and reallocations to sub-advisers, NTI will consider a variety of factors, including but not limited to the sub-adviser’s investment approach, historical performance, and the characteristics of each sub-adviser’s allocated assets (including duration, credit quality, average maturity, industry and geographic region). NTI seeks, through its selection of sub-advisers and its allocation determinations, to reduce portfolio volatility and provide an attractive combination of risk and return for the Fund.
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.
The sub-advisers may engage in active trading, and will not consider portfolio turnover a limiting factor in making decisions for the Fund.
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NMHYX - Performance

Return Ranking - Trailing

Period NMHYX Return Category Return Low Category Return High Rank in Category (%)
YTD 6.9% -7.0% 15.5% 71.66%
1 Yr 12.9% -1.8% 17.8% 51.79%
3 Yr 3.0%* -14.3% 21.4% 38.44%
5 Yr 4.9%* -11.1% 37.3% 20.99%
10 Yr 4.5%* -4.9% 20.1% 21.83%

* Annualized

Return Ranking - Calendar

Period NMHYX Return Category Return Low Category Return High Rank in Category (%)
2023 4.7% -4.7% 14.3% 64.22%
2022 -15.1% -33.4% 3.6% 42.74%
2021 1.4% -8.4% 8.2% 17.12%
2020 -1.2% -13.2% 302.7% 71.08%
2019 3.2% -4.4% 13.3% 95.28%

Total Return Ranking - Trailing

Period NMHYX Return Category Return Low Category Return High Rank in Category (%)
YTD 6.9% -7.0% 15.5% 71.66%
1 Yr 12.9% -1.8% 17.8% 51.79%
3 Yr 3.0%* -14.3% 21.4% 38.44%
5 Yr 4.9%* -11.1% 37.3% 20.99%
10 Yr 4.5%* -4.9% 20.1% 21.83%

* Annualized

Total Return Ranking - Calendar

Period NMHYX Return Category Return Low Category Return High Rank in Category (%)
2023 12.9% -4.7% 18.7% 30.56%
2022 -10.3% -33.4% 47.8% 41.91%
2021 6.8% -8.4% 12.4% 16.10%
2020 6.2% -9.6% 325.6% 34.22%
2019 10.4% -3.8% 19.4% 84.57%

NAV & Total Return History


NMHYX - Holdings

Concentration Analysis

NMHYX Category Low Category High NMHYX % Rank
Net Assets 187 M 3.13 M 23.6 B 76.06%
Number of Holdings 1890 2 3879 0.98%
Net Assets in Top 10 20.5 M -492 M 5.25 B 81.34%
Weighting of Top 10 11.55% 4.2% 146.0% 61.70%

Top 10 Holdings

  1. REAALL CMN STOCK CMN STO 2.10%
  2. Specialty Stl Holdco Inc FRN SNR USD 1.40%
  3. Northern Inst Fds GOVT PTFL 1.24%
  4. CENX 7.5 04/01/28 144A 1.10%
  5. Northern Inst Fds GOVT PTFL 1.04%
  6. BIMCN 8.75 07/15/26 144A 1.02%
  7. Northern Inst Fds GOVT PTFL 0.98%
  8. HBGCN 7.375 01/31/32 0.93%
  9. Northern Inst Fds GOVT PTFL 0.89%
  10. NEW STAR METALS SR SECD 0.86%

Asset Allocation

Weighting Return Low Return High NMHYX % Rank
Bonds
92.33% 0.00% 145.36% 74.59%
Cash
4.93% -52.00% 48.02% 36.17%
Stocks
2.79% 0.00% 99.64% 19.06%
Convertible Bonds
0.70% 0.00% 17.89% 65.96%
Preferred Stocks
0.00% 0.00% 4.97% 58.76%
Other
-0.05% -39.08% 99.96% 94.93%

Stock Sector Breakdown

Weighting Return Low Return High NMHYX % Rank
Utilities
0.00% 0.00% 100.00% 56.41%
Technology
0.00% 0.00% 33.17% 9.69%
Real Estate
0.00% 0.00% 86.71% 53.28%
Industrials
0.00% 0.00% 93.12% 16.52%
Healthcare
0.00% 0.00% 22.17% 56.98%
Financial Services
0.00% 0.00% 100.00% 55.84%
Energy
0.00% 0.00% 100.00% 19.09%
Communication Services
0.00% 0.00% 99.99% 58.12%
Consumer Defense
0.00% 0.00% 100.00% 49.29%
Consumer Cyclical
0.00% 0.00% 100.00% 68.38%
Basic Materials
0.00% 0.00% 100.00% 8.55%

Stock Geographic Breakdown

Weighting Return Low Return High NMHYX % Rank
US
2.79% 0.00% 99.64% 19.15%
Non US
0.00% -0.01% 0.83% 44.19%

Bond Sector Breakdown

Weighting Return Low Return High NMHYX % Rank
Corporate
99.90% 0.00% 100.00% 0.66%
Cash & Equivalents
4.14% 0.00% 48.02% 37.32%
Securitized
0.10% 0.00% 97.24% 38.20%
Municipal
0.00% 0.00% 1.17% 35.08%
Government
0.00% 0.00% 99.07% 55.74%
Derivative
-0.05% -14.19% 42.26% 97.05%

Bond Geographic Breakdown

Weighting Return Low Return High NMHYX % Rank
US
92.11% 0.00% 126.57% 62.52%
Non US
0.22% 0.00% 96.91% 38.79%

NMHYX - Expenses

Operational Fees

NMHYX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.77% 0.02% 38.33% 69.12%
Management Fee 0.65% 0.00% 1.75% 76.18%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.00% 0.50% 75.50%

Sales Fees

NMHYX 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

NMHYX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee 2.00% 1.00% 2.00% 10.71%

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.

NMHYX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 64.94% 1.00% 255.00% 52.42%

NMHYX - Distributions

Dividend Yield Analysis

NMHYX Category Low Category High NMHYX % Rank
Dividend Yield 6.94% 0.00% 11.76% 5.53%

Dividend Distribution Analysis

NMHYX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly SemiAnnual Monthly Monthly

Net Income Ratio Analysis

NMHYX Category Low Category High NMHYX % Rank
Net Income Ratio 4.68% -2.39% 9.30% 34.83%

Capital Gain Distribution Analysis

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

Distributions History

View More +

NMHYX - Fund Manager Analysis

Managers

Christopher Vella


Start Date

Tenure

Tenure Rank

Jan 05, 2012

10.41

10.4%

Christopher E. Vella, CFA, CIO, Senior Vice President of Northern Trust Investments, Inc, is the portfolio manager for each of the Funds. Mr. Vella has been with Northern Trust since 2004 and has been the Chief Investment Officer of Multi-Manager Solutions Group since 2011. Prior to taking on Chief Investment Officer responsibilities, Mr. Vella was the Global Director of Northern’s Manager Research Team.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.13 37.79 7.32 8.17