NMFIX vs. BGLYX

Last updated Jun 23, 2026

NMFIX (Northern Multi-Manager Global Listed Infrastructure Fund) and BGLYX (Brookfield Global Listed Infrastructure Fund) are both Energy Equities funds. Over the past 10 years, NMFIX returned 7.37%/yr vs 6.46%/yr for BGLYX. Their correlation of 0.90 suggests significant overlap in exposure. NMFIX charges 0.96%/yr vs 1.00%/yr for BGLYX.

Performance

NMFIX vs. BGLYX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Northern Multi-Manager Global Listed Infrastructure Fund (NMFIX) and Brookfield Global Listed Infrastructure Fund (BGLYX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NMFIX achieves a 8.49% return, which is significantly lower than BGLYX's 9.44% return. Over the past 10 years, NMFIX has outperformed BGLYX with an annualized return of 7.37%, while BGLYX has yielded a comparatively lower 6.46% annualized return.

NMFIX

• 1D: 0.00%
• 1M: -2.06%
• YTD: 8.49%
• 6M: 9.05%
• 1Y: 16.90%
• 3Y*: 11.09%
• 5Y*: 7.14%
• 10Y*: 7.37%

BGLYX

• 1D: 0.20%
• 1M: -1.68%
• YTD: 9.44%
• 6M: 10.05%
• 1Y: 16.55%
• 3Y*: 10.70%
• 5Y*: 7.41%
• 10Y*: 6.46%

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

NMFIX vs. BGLYX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NMFIX Northern Multi-Manager Global Listed Infrastructure Fund	8.49%	23.11%	1.74%	6.62%	-7.21%	13.68%	-2.59%	24.34%	-10.26%	22.17%
BGLYX Brookfield Global Listed Infrastructure Fund	9.44%	13.04%	9.01%	3.32%	-5.47%	16.13%	-3.25%	25.44%	-8.06%	10.79%

Correlation

The correlation between NMFIX and BGLYX is 0.85, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.85
Correlation (3Y) Calculated over the trailing 3-year period	0.89
Correlation (5Y) Calculated over the trailing 5-year period	0.92
Correlation (10Y) Calculated over the trailing 10-year period	0.89
Correlation (All Time) Calculated using the full available price history since Jan 3, 2013	0.90

The correlation between NMFIX and BGLYX has been stable across timeframes, ranging from 0.85 to 0.92 - a consistent structural relationship.

Return for Risk

NMFIX vs. BGLYX — Risk / Return Rank

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

NMFIX

NMFIX Risk / Return Rank: 33
NMFIX Sharpe Ratio Rank: 25
NMFIX Sortino Ratio Rank: 26
NMFIX Omega Ratio Rank: 34
NMFIX Calmar Ratio Rank: 43
NMFIX Martin Ratio Rank: 36

BGLYX

BGLYX Risk / Return Rank: 38
BGLYX Sharpe Ratio Rank: 33
BGLYX Sortino Ratio Rank: 31
BGLYX Omega Ratio Rank: 32
BGLYX Calmar Ratio Rank: 52
BGLYX Martin Ratio Rank: 40

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.

NMFIX vs. BGLYX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Northern Multi-Manager Global Listed Infrastructure Fund (NMFIX) and Brookfield Global Listed Infrastructure Fund (BGLYX). 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.

	NMFIX	BGLYX	Difference
Sharpe ratio: Return per unit of total volatility	1.32	1.55	-0.23
Sortino ratio: Return per unit of downside risk	1.98	2.17	-0.19
Omega ratio: Gain probability vs. loss probability	1.29	1.28	+0.01
Calmar ratio: Return relative to maximum drawdown	2.38	2.63	-0.25
Martin ratio: Return relative to average drawdown	7.61	8.08	-0.48

NMFIX vs. BGLYX - Sharpe Ratio Comparison

The current NMFIX Sharpe Ratio is 1.32, which is comparable to the BGLYX Sharpe Ratio of 1.55. The chart below compares the historical Sharpe Ratios of NMFIX and BGLYX, 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

NMFIX vs. BGLYX - Drawdown Comparison

The maximum NMFIX drawdown since its inception was -34.93%, roughly equal to the maximum BGLYX drawdown of -36.54%. Use the drawdown chart below to compare losses from any high point for NMFIX and BGLYX.

Drawdown Indicators

	NMFIX	BGLYX	Difference
Max Drawdown Largest peak-to-trough decline	-34.93%	-36.54%	+1.61%
Max Drawdown (1Y) Largest decline over 1 year	-7.20%	-6.32%	-0.88%
Max Drawdown (3Y) Largest decline over 3 years	-15.03%	-14.56%	-0.47%
Max Drawdown (5Y) Largest decline over 5 years	-22.76%	-20.94%	-1.82%
Max Drawdown (10Y) Largest decline over 10 years	-34.93%	-36.54%	+1.61%
Current Drawdown Current decline from peak	-4.25%	-3.75%	-0.50%
Average Drawdown Average peak-to-trough decline	-5.30%	-7.84%	+2.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.24%	2.05%	+0.19%

Volatility

NMFIX vs. BGLYX - Volatility Comparison

The current volatility for Northern Multi-Manager Global Listed Infrastructure Fund (NMFIX) is 2.81%, while Brookfield Global Listed Infrastructure Fund (BGLYX) has a volatility of 3.62%. This indicates that NMFIX experiences smaller price fluctuations and is considered to be less risky than BGLYX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NMFIX	BGLYX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.81%	3.62%	-0.81%
Volatility (6M) Calculated over the trailing 6-month period	11.39%	8.69%	+2.70%
Volatility (1Y) Calculated over the trailing 1-year period	12.95%	10.71%	+2.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.84%	13.60%	+0.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.45%	15.64%	-0.19%

NMFIX vs. BGLYX - Expense Ratio Comparison

NMFIX has a 0.96% expense ratio, which is lower than BGLYX's 1.00% expense ratio.

Dividends

NMFIX vs. BGLYX - Dividend Comparison

NMFIX's dividend yield for the trailing twelve months is around 5.60%, less than BGLYX's 28.34% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BGLYX Brookfield Global Listed Infrastructure Fund	28.34%	30.30%	1.89%	1.88%	7.34%	4.53%	3.71%	3.94%	4.31%	4.03%	4.09%	4.03%
NMFIX Northern Multi-Manager Global Listed Infrastructure Fund	5.60%	6.03%	3.82%	2.78%	3.98%	10.13%	2.11%	2.47%	10.33%	7.71%	2.53%	2.01%

Frequently Asked Questions

Can I hold both NMFIX and BGLYX in my portfolio?

NMFIX and BGLYX have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NMFIX or BGLYX?

BGLYX has higher volatility (3.62%) compared to NMFIX (2.81%). In terms of maximum drawdown, NMFIX dropped -34.93% vs BGLYX's -36.54%.

Which has better risk-adjusted returns?

BGLYX currently has the higher Sharpe Ratio (1.55 vs 1.32), 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.