- ISIN
- US6651623927
- CUSIP
- 665162392
- Issuer
- Northern Funds
- Inception Date
- Jun 30, 1993
- Category
- Global Allocation
- Min. Investment
- $2,500
- Distribution Policy
- Distributing
- Asset Class
- Multi-Asset
- Asset Class Size
- Large-Cap
- Asset Class Style
- Blend
Share Price Chart
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Performance
BBALX Performance Chart
Northern Global Tactical Asset Allocation Fund (BBALX) is up 7.5% since the beginning of the year. BBALX is currently trading at $15 per share. Investors who bought $1,000 worth of BBALX shares 5 years ago would now be looking at an investment worth $1,343.
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Returns By Period
Northern Global Tactical Asset Allocation Fund (BBALX) has returned 7.50% so far this year and 17.99% over the past 12 months. Over the last ten years, BBALX has returned 7.04% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.
Northern Global Tactical Asset Allocation Fund
- 1D
- 0.66%
- 1M
- 0.83%
- YTD
- 7.50%
- 6M
- 7.43%
- 1Y
- 17.99%
- 3Y*
- 11.93%
- 5Y*
- 6.07%
- 10Y*
- 7.04%
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
BBALX Monthly Returns History
Based on dividend-adjusted daily data since Jun 20, 1996, BBALX's average daily return is +0.02%, while the average monthly return is +0.50%. At this rate, an investment would double in approximately 11.6 years.
Historically, 62% of months were positive and 38% were negative. The best month was Apr 2020 with a return of +7.7%, while the worst month was Mar 2020 at -11.7%. The longest winning streak lasted 15 consecutive months, and the longest losing streak was 6 months.
On a daily basis, BBALX closed higher 50% of trading days. The best single day was Mar 24, 2020 with a return of +5.7%, while the worst single day was Dec 21, 1998 at -7.7%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 2.23% | 2.44% | -4.54% | 5.18% | 2.50% | -0.26% | 7.50% | ||||||
| 2025 | 2.02% | 0.88% | -1.96% | 0.00% | 2.84% | 3.24% | 0.51% | 2.22% | 2.00% | 0.91% | 0.79% | 0.49% | 14.74% |
| 2024 | -0.24% | 0.99% | 2.02% | -2.69% | 3.06% | 0.87% | 2.28% | 2.07% | 1.75% | -2.24% | 2.73% | -2.63% | 8.00% |
| 2023 | 4.93% | -3.09% | 1.79% | 0.92% | -2.30% | 2.91% | 2.16% | -1.60% | -2.76% | -2.15% | 5.68% | 4.30% | 10.74% |
| 2022 | -2.68% | -1.37% | 0.37% | -5.12% | 0.73% | -6.30% | 4.59% | -3.13% | -6.69% | 3.76% | 5.62% | -2.43% | -12.79% |
| 2021 | -0.22% | 1.21% | 2.08% | 2.55% | 1.46% | 0.49% | 0.63% | 1.08% | -2.55% | 2.83% | -1.88% | 3.13% | 11.17% |
Benchmark Metrics
Northern Global Tactical Asset Allocation Fund has an annualized alpha of 0.95%, beta of 0.52, and R2 of 0.86 versus S&P 500 Index. Calculated based on daily prices since June 20, 1996.
- This fund participated in 62.38% of S&P 500 Index downside but only 55.71% of its upside - more exposed to losses than it benefited from rallies.
- Beta of 0.52 indicates this fund moves significantly less than S&P 500 Index - a genuinely defensive profile with reduced participation in both market rallies and downturns.
- Alpha
- 0.95%
- Beta
- 0.52
- R²
- 0.86
- Upside Capture
- 55.71%
- Downside Capture
- 62.38%
Expense Ratio
BBALX has an expense ratio of 0.26%, which is considered low.
Return for Risk
Risk / Return Rank
BBALX ranks 61 for risk / return — better than 61% of mutual funds on our site. You're getting solid returns for the risk taken. A good sign, especially for investors who want growth without excessive volatility.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Northern Global Tactical Asset Allocation Fund (BBALX) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| BBALX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.05 | ||
| Sortino ratioReturn per unit of downside risk | +0.18 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.37 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 2.88 | 2.78 | +0.09 |
| Martin ratioReturn relative to average drawdown | 12.21 | 12.44 | -0.23 |
Dividends
Dividend History
Northern Global Tactical Asset Allocation Fund provided a 2.71% dividend yield over the last twelve months, with an annual payout of $0.42 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.42 | $0.45 | $0.42 | $0.46 | $0.83 | $0.65 | $0.89 | $0.29 | $0.49 | $0.43 | $0.36 | $0.47 |
Dividend yield | 2.71% | 3.11% | 3.28% | 3.72% | 7.22% | 4.57% | 6.63% | 2.15% | 4.23% | 3.26% | 3.01% | 4.20% |
Monthly Dividends
The table displays the monthly dividend distributions for Northern Global Tactical Asset Allocation Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.03 | $0.00 | $0.00 | $0.03 | $0.00 | $0.05 | ||||||
| 2025 | $0.00 | $0.02 | $0.00 | $0.00 | $0.07 | $0.00 | $0.00 | $0.09 | $0.00 | $0.00 | $0.07 | $0.20 | $0.45 |
| 2024 | $0.00 | $0.02 | $0.00 | $0.00 | $0.09 | $0.00 | $0.00 | $0.12 | $0.00 | $0.00 | $0.07 | $0.13 | $0.42 |
| 2023 | $0.00 | $0.04 | $0.00 | $0.00 | $0.07 | $0.00 | $0.00 | $0.12 | $0.00 | $0.00 | $0.11 | $0.11 | $0.46 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.05 | $0.00 | $0.00 | $0.11 | $0.00 | $0.00 | $0.11 | $0.56 | $0.83 |
| 2021 | $0.00 | $0.04 | $0.00 | $0.00 | $0.02 | $0.00 | $0.00 | $0.08 | $0.00 | $0.00 | $0.08 | $0.44 | $0.65 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Northern Global Tactical Asset Allocation Fund. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Northern Global Tactical Asset Allocation Fund was 33.24%, occurring on Mar 9, 2009. Recovery took 420 trading sessions.
The current Northern Global Tactical Asset Allocation Fund drawdown is 0.65%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Financial crisis2007–2009 | -33.24%Mar 2009 | 1y 4mo | 1y 8mo | 3y 21dOct 2007 - Nov 2010 |
COVID crash2020 | -26.33%Mar 2020 | 1mo 9d | 7mo 23d | 9mo 2dFeb 2020 - Nov 2020 |
Dot-com crash2000–2002 | -25.00%Jul 2002 | 1y 10mo | 2y 12mo | 4y 10moSep 2000 - Jul 2005 |
Bear market2022 | -18.75%Oct 2022 | 9mo 12d | 1y 7mo | 2y 4moJan 2022 - May 2024 |
Rate-hike selloffLate 2018 | -13.87%Dec 2018 | 10mo 29d | 10mo 5d | 1y 8moJan 2018 - Oct 2019 |
Drawdown Indicators
| BBALX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.24% | -56.78% | +23.54% |
Max Drawdown (1Y)Largest decline over 1 year | -6.42% | -9.10% | +2.68% |
Max Drawdown (3Y)Largest decline over 3 years | -9.72% | -18.90% | +9.18% |
Max Drawdown (5Y)Largest decline over 5 years | -18.75% | -25.43% | +6.68% |
Max Drawdown (10Y)Largest decline over 10 years | -26.33% | -33.92% | +7.59% |
Current DrawdownCurrent decline from peak | -0.65% | -1.80% | +1.15% |
Average DrawdownAverage peak-to-trough decline | -5.48% | -10.71% | +5.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.50% | 2.03% | -0.53% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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