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Index Equity

Stock Index

TickerNAV AS OF 12/09/16
NOSIX$27.50 $0.17 Arrow Up Icon

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For those moderate-risk investors seeking a competitive long-term investment return through a broadly diversified portfolio, this Fund may be appropriate for you. It offers a high degree of relative predictability in an uncertain stock market by seeking investment results, before expenses, approximating the aggregate price and dividend performance of the securities included in the S&P 500 Stock Index. Our experienced investment team does not use traditional methods of investment management of the Fund, rather the team will buy and sell securities in response to the S&P 500 Stock Index.
Fund Objective
Seeks to Replicate Index
Fund Strategy
  • Passively managed, the Fund seeks to duplicate the investment composition and overall performance of the stocks included in the S&P 500® Index.
  • Invest at least 80% of its net assets in equity securities in the Index, in weightings that approximate the relative composition of the Index.
  • Use proprietary quantitative techniques designed to minimize trading costs.
Investor Profile
If you're a moderate-risk investor seeking competitive long-term investment returns through a broadly diversified portfolio, this Fund may be appropriate for you. It offers a high degree of relative predictability in an uncertain stock market by seeking investment results, before expenses, approximating the aggregate price and dividend performance of the securities included in the S&P 500 Stock Index.
Risk/Reward Potential
Overall Morningstar RatingTM

Among 1,253 large blend funds derived from a weighted average of the fund's 3-, 5- and 10-year risk-adjusted returns as of 11/30/16.

Stock Index received 4 stars for the 3-year rating among 1,253 large blend funds, 4 stars for the 5-year rating among 1,099 funds and 4 stars for the 10-year rating among 803 funds.

Past performance is no guarantee of future results. Ratings reflect fee waivers in effect; in their absence, ratings may have been lower.

Star ratings are based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund’s monthly performance (including the effects of sales charges and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The overall rating is a weighted average of the 3-, 5-, and 10-year (if applicable) returns. 5 stars = top 10% of funds in an asset category; 4 stars = next 22.5% of funds; 3 stars = next 35%; 2 stars = next 22.5% and 1 star = next 10%. A fund must be in existence three years to be rated. Ratings are subject to change monthly.

©2016 Morningstar, Inc. All Rights Reserved. Morningstar and/or its content providers are the proprietors of this information; do not permit its unauthorized copying or distribution; do not warrant it to be accurate, complete or timely; and are not responsible for damages or losses arising from its use.

Fund Literature

Important risk information can be found on the Portfolio tab.


YTD Total Return12.80% (as of 12/09/16)
Inception Date10/07/96
Total Net Assets$7,308,688,409 (as of 11/30/16)

Total Returns

Total Returns for Month Ending 11/30/16
    Month   3-Month     YTD  1-Year  3-Year  5-Year  10-Year Since
Stock Index3.72%1.82%9.72%7.96%8.96%14.33%6.71%7.46%
S&P 500 Index3.70%1.83%9.79%8.06%9.07%14.45%6.89%7.94%
Morningstar Cat. Avg.
Large Blend

Total Returns

Total Returns for Quarter Ending 09/30/16
    Month   3-Month     YTD  1-Year  3-Year  5-Year  10-Year Since
Stock Index-0.01%3.81%7.75%15.33%11.04%16.24%7.05%7.43%
S&P 500 Index0.02%3.85%7.84%15.43%11.16%16.37%7.24%7.91%
Morningstar Cat. Avg.
Large Blend
Performance quoted represents past performance and does not guarantee future results. Investment return and principal value will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than that shown here.

Northern Trust Investments, Inc. has contractually agreed to reimburse a portion of the operating expenses of the Fund (other than certain excepted expenses, i.e., acquired fund fees and expenses; the compensation paid to each Independent Trustee of the Trust; expenses of third party consultants engaged by the Board of Trustees; membership dues paid to the Investment Company Institute and Mutual Fund Directors Forum; expenses in connection with the negotiation and renewal of the revolving credit facility; and extraordinary expense and interest) to the extent the "Total Annual Fund Operating Expenses" exceed 0.10%. The "Total Annual Fund Operating Expenses After Expense Reimbursement" may be higher than the contractual limitation as a result of the excepted expenses that are not reimbursed. This contractual limitation may not be terminated before July 31, 2017 without the approval of the Board of Trustees. In the absence of fee waivers, yield, total return, growth since inception and dividends would have been reduced. Total return is based on net change in NAV assuming reinvestment of distributions.

Annual Expense Ratios

 Gross Expense RatioNet Expense Ratio
Stock Index0.11%0.10%
Includes contractual expense reimbursements that, if not extended, will end on July 31, 2017. The Fund also includes voluntary expense reimbursements that may change or end at any time.

Calendar Year Returns

       2015      2014      2013      2012      2011
Stock Index1.29%13.55%32.23%15.86%1.89%
S&P 500 Index1.38%13.69%32.39%16.00%2.11%
Morningstar Category Avg. Large Blend-1.07%10.96%31.50%14.96%-1.27%
Performance quoted represents past performance and does not guarantee future results.
Important risk information can be found on the Portfolio tab.


Portfolio Composition
Top 10 HoldingsFund
Apple Inc3.3%
Microsoft Corp2.5%
Exxon Mobil Corp1.9%
Johnson & Johnson1.7% Inc1.7%
Facebook Inc1.7%
Berkshire Hathaway Inc Class B1.5%
General Electric Co1.4%
JP Morgan Chase & Co1.4%
Alphabet Inc1.3%
% of Portfolio18.4%
As of 10/31/16
Sector WeightingsFundBenchmark
Information Technology21.7%21.6%
Health Care14.0%14.0%
Consumer Discretionary12.2%12.3%
Consumer Staples10.1%10.0%
Real Estate2.9%2.9%
Telecommunication Services2.5%2.5%
As of 10/31/16
Risk Characteristics*Stock IndexS&P 500 Index
Up Market Capture99.48100.00
Down Market Capture100.23100.00
Information Ratio–1.950.00
*Above risk characteristics are based on a 3-year time period
DateHoldings File
As of 10/31/16Insert Icon
As of 09/30/16Insert Icon
As of 08/31/16Insert Icon
As of 07/31/16Insert Icon
As of 06/30/16Insert Icon
As of 05/31/16Insert Icon

Fund Characteristics

Number of Holdings505
Portfolio Turnover5.46% (as of 03/31/16)
Dividend ScheduleQuarterly
Dividend Income Last Quarter$0.1273
Capital Gain Income Last QuarterN/A
Weighted Average Market Cap ($Mil)$146,558
BenchmarkS&P 500 Index
Morningstar CategoryLarge Blend
Trailing 12-Month Price-to-Earnings Ratio
Price-to-Book Ratio
Historical 5-Year Earnings Growth
Asset Allocation 
Equity Risk: Equity securities (stocks) are more volatile and carry more risk than other forms of investments, including investments in high-grade fixed-income securities. The net asset value per share of this Fund will fluctuate as the value of the securities in the portfolio changes.
Index Fund Risk: The performance of the Fund is expected to be lower than that of the Index because of Fund fees and expenses. It is important to remember that there are risks associated with index investing, including the potential risk of market decline, as well as the risks associated with investing in specific companies.
S&P 500® Index is an unmanaged index consisting of 500 stocks and is a widely recognized common measure of the performance of the overall U.S. stock market. It is not possible to invest directly in an index.
Brent Reeder

Brent Reeder

Portfolio Manager

Northern Mid Cap Index Fund (NOMIX)
Northern Small Cap Index Fund (NSIDX)
Northern Stock Index Fund (NOSIX)

With Northern Trust Since 1993
Began Career in 1993

Brent Reeder, Senior Vice President, is Director of U.S. Index Equities at Northern Trust. Mr. Reeder is responsible for equity index portfolio management in the United States. Prior to Director of U.S. Index Equities, he was a senior portfolio manager on the U.S. equity team. Mr. Reeder manages the Northern Mid Cap Index Fund, Northern Small Cap Index Fund and Northern Stock Index Fund.

Prior to his current role, Mr. Reeder's responsibilities included foundations and endowments team leader in the trust operations division at Northern Trust.

Mr. Reeder received a B.A. in economics from DePauw University, and an MBA in finance from DePaul University. He is an Associated Person with the National Futures Association.

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Not FDIC insured | May lose value | No bank guarantee

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Please carefully read the prospectus and summary prospectus and consider the investment objectives, risks, charges and expenses of Northern Funds before investing. Call 800-595-9111 to obtain a prospectus and summary prospectus, which contains this and other information about the funds.

©2016 Northern Funds | Northern Funds are distributed by Northern Funds Distributors, LLC, not affiliated with Northern Trust.