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Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in Northern Multi-Manager Global Real Estate Fund, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.
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Returns By Period
Northern Multi-Manager Global Real Estate Fund (NMMGX) has returned -1.23% so far this year and 4.72% over the past 12 months. Over the last ten years, NMMGX has returned 3.09% per year, falling short of the S&P 500 Index benchmark, which averaged 12.16% annually.
Northern Multi-Manager Global Real Estate Fund
- 1D
- 0.29%
- 1M
- -9.57%
- YTD
- -1.23%
- 6M
- -1.78%
- 1Y
- 4.72%
- 3Y*
- 3.68%
- 5Y*
- 0.59%
- 10Y*
- 3.09%
Benchmark (S&P 500 Index)
- 1D
- 2.91%
- 1M
- -5.09%
- YTD
- -4.63%
- 6M
- -2.39%
- 1Y
- 16.33%
- 3Y*
- 16.69%
- 5Y*
- 10.18%
- 10Y*
- 12.16%
Monthly Returns
Based on dividend-adjusted daily data since Dec 15, 2008, NMMGX's average daily return is +0.03%, while the average monthly return is +0.69%. At this rate, your investment would double in approximately 8.4 years.
Historically, 63% of months were positive and 38% were negative. The best month was Apr 2009 with a return of +19.5%, while the worst month was Mar 2020 at -19.4%. The longest winning streak lasted 11 consecutive months, and the longest losing streak was 5 months.
On a daily basis, NMMGX closed higher 52% of trading days. The best single day was Mar 23, 2009 with a return of +9.7%, while the worst single day was Mar 16, 2020 at -14.7%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 2.85% | 6.19% | -9.57% | -1.23% | |||||||||
| 2025 | 1.17% | 1.25% | -2.78% | 0.78% | 2.62% | 0.93% | -0.75% | 2.85% | 0.07% | -1.30% | 1.60% | -0.83% | 5.59% |
| 2024 | -4.05% | 0.59% | 3.28% | -7.20% | 4.29% | 0.01% | 6.01% | 4.83% | 2.73% | -5.22% | 2.20% | -7.09% | -0.87% |
| 2023 | 9.37% | -4.79% | -2.14% | 2.10% | -4.59% | 3.01% | 3.00% | -2.62% | -6.57% | -4.83% | 11.16% | 8.37% | 9.85% |
| 2022 | -6.99% | -2.77% | 3.41% | -3.85% | -4.74% | -8.25% | 7.98% | -6.70% | -12.57% | 2.36% | 7.43% | -3.13% | -26.25% |
| 2021 | -0.83% | 3.06% | 2.45% | 6.60% | 1.98% | 1.52% | 4.72% | 1.53% | -5.38% | 5.34% | -1.89% | 7.17% | 28.77% |
Benchmark Metrics
Northern Multi-Manager Global Real Estate Fund has an annualized alpha of -2.36%, beta of 0.84, and R² of 0.63 versus S&P 500 Index. Calculated based on daily prices since December 16, 2008.
- This fund participated in 99.58% of S&P 500 Index downside but only 78.98% of its upside — more exposed to losses than it benefited from rallies.
- This fund had an annualized alpha of -2.36% versus S&P 500 Index — delivering less than market exposure alone would predict.
- Alpha
- -2.36%
- Beta
- 0.84
- R²
- 0.63
- Upside Capture
- 78.98%
- Downside Capture
- 99.58%
Expense Ratio
NMMGX has an expense ratio of 0.92%, placing it in the medium range.
Return for Risk
Risk / Return Rank
NMMGX ranks 12 for risk / return — in the bottom 12% of mutual funds on our site. This means you're taking on significantly more risk than the returns justify. Consider whether the potential upside is worth the volatility, or explore alternatives with better risk / return profiles.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Northern Multi-Manager Global Real Estate Fund (NMMGX) and compare them to a chosen benchmark (S&P 500 Index).
| NMMGX | Benchmark | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.31 | 0.90 | -0.58 |
Sortino ratioReturn per unit of downside risk | 0.56 | 1.39 | -0.82 |
Omega ratioGain probability vs. loss probability | 1.08 | 1.21 | -0.13 |
Calmar ratioReturn relative to maximum drawdown | 0.36 | 1.40 | -1.04 |
Martin ratioReturn relative to average drawdown | 1.40 | 6.61 | -5.20 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Explore NMMGX risk-adjusted metrics in detail
Dive deeper into individual metrics with historical trends, benchmark comparisons, and performance across different time periods.
Dividends
Dividend History
Northern Multi-Manager Global Real Estate Fund provided a 2.83% dividend yield over the last twelve months, with an annual payout of $0.29 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.29 | $0.32 | $0.25 | $0.27 | $0.10 | $0.37 | $0.19 | $0.53 | $0.59 | $0.60 | $1.62 | $4.27 |
Dividend yield | 2.83% | 3.05% | 2.39% | 2.58% | 1.04% | 2.69% | 1.77% | 4.57% | 6.04% | 5.53% | 15.47% | 36.84% |
Monthly Dividends
The table displays the monthly dividend distributions for Northern Multi-Manager Global Real Estate 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 | $0.00 | $0.00 | $0.00 | |||||||||
| 2025 | $0.00 | $0.00 | $0.03 | $0.00 | $0.00 | $0.05 | $0.00 | $0.00 | $0.07 | $0.00 | $0.00 | $0.18 | $0.32 |
| 2024 | $0.00 | $0.00 | $0.03 | $0.00 | $0.00 | $0.06 | $0.00 | $0.00 | $0.09 | $0.00 | $0.00 | $0.07 | $0.25 |
| 2023 | $0.00 | $0.00 | $0.09 | $0.00 | $0.00 | $0.06 | $0.00 | $0.00 | $0.04 | $0.00 | $0.00 | $0.07 | $0.27 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.04 | $0.00 | $0.00 | $0.06 | $0.00 | $0.00 | $0.01 | $0.10 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.05 | $0.00 | $0.00 | $0.04 | $0.00 | $0.00 | $0.28 | $0.37 |
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 Multi-Manager Global Real Estate 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 Global Real Estate Fund was 40.28%, occurring on Mar 23, 2020. Recovery took 268 trading sessions.
The current Northern Multi-Manager Global Real Estate Fund drawdown is 16.24%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -40.28% | Feb 18, 2020 | 25 | Mar 23, 2020 | 268 | Apr 15, 2021 | 293 |
| -36.54% | Jan 7, 2009 | 42 | Mar 9, 2009 | 57 | May 29, 2009 | 99 |
| -34.26% | Jan 3, 2022 | 458 | Oct 27, 2023 | — | — | — |
| -23.53% | Jul 25, 2011 | 50 | Oct 3, 2011 | 198 | Jul 17, 2012 | 248 |
| -16.7% | Feb 6, 2015 | 256 | Feb 11, 2016 | 103 | Jul 11, 2016 | 359 |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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