Northern Multi-Manager High Yield Opportunity Fund (NMHYX)

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Northern Multi-Manager High Yield Opportunity Fund (NMHYX) is up 1.0% since the beginning of the year. NMHYX is currently trading at $8 per share. Investors who bought $1,000 worth of NMHYX shares 5 years ago would now be looking at an investment worth $1,204.

Northern Multi-Manager High Yield Opportunity Fund (NMHYX) has returned 1.02% so far this year and 5.27% over the past 12 months. Over the last ten years, NMHYX has returned 5.36% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.

Based on dividend-adjusted daily data since Sep 25, 2009, NMHYX's average daily return is +0.02%, while the average monthly return is +0.49%. At this rate, an investment would double in approximately 11.8 years.

Historically, 70% of months were positive and 30% were negative. The best month was Oct 2011 with a return of +5.9%, while the worst month was Mar 2020 at -13.4%. The longest winning streak lasted 12 consecutive months, and the longest losing streak was 4 months.

On a daily basis, NMHYX closed higher 47% of trading days. The best single day was Apr 9, 2020 with a return of +2.8%, while the worst single day was Mar 9, 2020 at -3.3%.

Northern Multi-Manager High Yield Opportunity Fund has an annualized alpha of 3.98%, beta of 0.14, and R2 of 0.28 versus S&P 500 Index. Calculated based on daily prices since September 25, 2009.

• This fund participated in 36.16% of S&P 500 Index downside but only 34.29% of its upside - more exposed to losses than it benefited from rallies.
• Beta of 0.14 may look defensive, but with R2 of 0.28 this fund is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this fund's risk.
• R2 of 0.28 means this fund moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.

NMHYX has an expense ratio of 0.87%, placing it in the medium range.

NMHYX ranks 49 for risk / return — on par with similar mutual funds. You're getting a typical balance of risk and reward. Not a standout, but not a red flag either — a reasonable choice if other factors align with your goals.

Northern Multi-Manager High Yield Opportunity Fund provided a 6.67% dividend yield over the last twelve months, with an annual payout of $0.55 per share.

The table displays the monthly dividend distributions for Northern Multi-Manager High Yield Opportunity Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.

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.

The table below displays the maximum drawdowns of the Northern Multi-Manager High Yield Opportunity 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 Multi-Manager High Yield Opportunity Fund was 21.19%, occurring on Mar 23, 2020. Recovery took 159 trading sessions.

The current Northern Multi-Manager High Yield Opportunity Fund drawdown is 0.15%.

The chart below shows the rolling one-month volatility.