NHFIX vs. FOCIX

Last updated Jun 25, 2026

NHFIX (Northern High Yield Fixed Income Fund) and FOCIX (Fairholme Focused Income Fund) are both High Yield Bonds funds. Over the past 10 years, NHFIX returned 5.53%/yr vs 7.16%/yr for FOCIX. At a 0.32 correlation, their price movements are largely independent. NHFIX charges 0.60%/yr vs 1.00%/yr for FOCIX.

Performance

NHFIX vs. FOCIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Northern High Yield Fixed Income Fund (NHFIX) and Fairholme Focused Income Fund (FOCIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NHFIX achieves a 1.53% return, which is significantly lower than FOCIX's 7.76% return. Over the past 10 years, NHFIX has underperformed FOCIX with an annualized return of 5.53%, while FOCIX has yielded a comparatively higher 7.16% annualized return.

NHFIX

• 1D: 0.00%
• 1M: 0.64%
• YTD: 1.53%
• 6M: 1.53%
• 1Y: 6.41%
• 3Y*: 9.00%
• 5Y*: 3.45%
• 10Y*: 5.53%

FOCIX

• 1D: 1.30%
• 1M: -1.46%
• YTD: 7.76%
• 6M: 7.46%
• 1Y: 11.02%
• 3Y*: 11.68%
• 5Y*: 9.43%
• 10Y*: 7.16%

*Multi-year figures are annualized to reflect compound growth (CAGR)

NHFIX vs. FOCIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NHFIX Northern High Yield Fixed Income Fund	1.53%	8.79%	8.03%	13.96%	-13.74%	5.03%	6.04%	16.17%	-3.60%	8.35%
FOCIX Fairholme Focused Income Fund	7.76%	6.17%	14.67%	12.58%	6.00%	6.73%	0.99%	7.44%	-6.88%	-0.54%

Correlation

The correlation between NHFIX and FOCIX is 0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.04
Correlation (3Y) Calculated over the trailing 3-year period	0.22
Correlation (5Y) Calculated over the trailing 5-year period	0.34
Correlation (10Y) Calculated over the trailing 10-year period	0.31
Correlation (All Time) Calculated using the full available price history since Jan 5, 2010	0.32

Over the past year, the correlation between NHFIX and FOCIX has dropped to 0.04 - well below their long-term average of 0.32, suggesting their price drivers have been diverging.

Return for Risk

NHFIX vs. FOCIX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

NHFIX

NHFIX Risk / Return Rank: 77
NHFIX Sharpe Ratio Rank: 63
NHFIX Sortino Ratio Rank: 82
NHFIX Omega Ratio Rank: 81
NHFIX Calmar Ratio Rank: 80
NHFIX Martin Ratio Rank: 81

FOCIX

FOCIX Risk / Return Rank: 46
FOCIX Sharpe Ratio Rank: 33
FOCIX Sortino Ratio Rank: 36
FOCIX Omega Ratio Rank: 33
FOCIX Calmar Ratio Rank: 80
FOCIX Martin Ratio Rank: 49

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

NHFIX vs. FOCIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Northern High Yield Fixed Income Fund (NHFIX) and Fairholme Focused Income Fund (FOCIX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

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.

	NHFIX	FOCIX	Difference
Sharpe ratio: Return per unit of total volatility	2.10	1.50	+0.60
Sortino ratio: Return per unit of downside risk	3.52	2.27	+1.25
Omega ratio: Gain probability vs. loss probability	1.48	1.27	+0.21
Calmar ratio: Return relative to maximum drawdown	3.40	3.39	+0.01
Martin ratio: Return relative to average drawdown	13.90	9.48	+4.42

NHFIX vs. FOCIX - Sharpe Ratio Comparison

The current NHFIX Sharpe Ratio is 2.10, which is higher than the FOCIX Sharpe Ratio of 1.50. The chart below compares the historical Sharpe Ratios of NHFIX and FOCIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

NHFIX vs. FOCIX - Drawdown Comparison

The maximum NHFIX drawdown since its inception was -27.87%, which is greater than FOCIX's maximum drawdown of -18.78%. Use the drawdown chart below to compare losses from any high point for NHFIX and FOCIX.

Drawdown Indicators

	NHFIX	FOCIX	Difference
Max Drawdown Largest peak-to-trough decline	-27.87%	-18.78%	-9.09%
Max Drawdown (1Y) Largest decline over 1 year	-2.10%	-3.33%	+1.23%
Max Drawdown (3Y) Largest decline over 3 years	-4.39%	-7.96%	+3.57%
Max Drawdown (5Y) Largest decline over 5 years	-17.47%	-12.36%	-5.11%
Max Drawdown (10Y) Largest decline over 10 years	-24.72%	-18.61%	-6.11%
Current Drawdown Current decline from peak	-0.49%	-1.46%	+0.97%
Average Drawdown Average peak-to-trough decline	-2.77%	-4.76%	+1.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.51%	1.19%	-0.68%

Volatility

NHFIX vs. FOCIX - Volatility Comparison

The current volatility for Northern High Yield Fixed Income Fund (NHFIX) is 1.07%, while Fairholme Focused Income Fund (FOCIX) has a volatility of 2.80%. This indicates that NHFIX experiences smaller price fluctuations and is considered to be less risky than FOCIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NHFIX	FOCIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.07%	2.80%	-1.73%
Volatility (6M) Calculated over the trailing 6-month period	2.62%	5.81%	-3.19%
Volatility (1Y) Calculated over the trailing 1-year period	3.40%	7.53%	-4.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.11%	9.58%	-4.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.92%	9.08%	-3.16%

NHFIX vs. FOCIX - Expense Ratio Comparison

NHFIX has a 0.60% expense ratio, which is lower than FOCIX's 1.00% expense ratio.

Dividends

NHFIX vs. FOCIX - Dividend Comparison

NHFIX's dividend yield for the trailing twelve months is around 6.42%, more than FOCIX's 1.22% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FOCIX Fairholme Focused Income Fund	1.22%	1.31%	2.46%	2.82%	2.24%	1.12%	0.65%	2.75%	4.57%	9.83%	5.16%	5.51%
NHFIX Northern High Yield Fixed Income Fund	6.42%	6.87%	6.67%	6.57%	3.84%	4.92%	5.41%	6.35%	6.85%	6.66%	5.57%	6.19%

Frequently Asked Questions

Can I hold both NHFIX and FOCIX in my portfolio?

NHFIX and FOCIX have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NHFIX or FOCIX?

FOCIX has higher volatility (2.80%) compared to NHFIX (1.07%). In terms of maximum drawdown, NHFIX dropped -27.87% vs FOCIX's -18.78%.

Which has better risk-adjusted returns?

NHFIX currently has the higher Sharpe Ratio (2.10 vs 1.50), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.