Ultra-Short Fixed Income
NAV AS OF 10/20/21
The Ultra-Short Fixed Income Fund seeks to generate higher yields than money market funds with less volatility than short duration bond funds. It is intended for investors with an investment horizon of at least one year and strives to maintain a six to eighteen month dollar-weighted average maturity, under normal circumstances, with a maximum security duration of three years or less.
This Fund is not a money market fund, which maintains a $1.00 NAV, and the Fund's share price will fluctuate with its returns. An investment in the Fund can result in the loss of principal.
- Seek to yield more than a money market fund with potential for capital appreciation.
- Strive to maintain a 6-18 month average maturity, under normal circumstances, with a maximum security duration of three years.
- Manage Fund in an effort to have an average portfolio quality of A or better, with all securities to be investment grade.
If you're seeking an investment that may generate higher yields than money market
funds with less volatility than short duration bond funds, this Fund may be appropriate
for you. The Fund is intended for investors with an investment horizon of at least
one year who are seeking to move a portion of their money market fund assets.
The Fund is not a money market fund, which maintains a $1.00 NAV, and the Fund's share price will fluctuate with its returns.
Overall Morningstar Rating TM
Among 213 ultrashort bond funds derived from a weighted average of the fund's 3-,5- and 10-year risk-adjusted returns as of 09/30/21.
Ultra-Short Fixed Income received 4 stars for the 3-year rating among 213 ultrashort bond funds, 4 stars for the 5-year rating among 168 funds and 4 stars for the 10-year rating among 83 funds.
The Morningstar RatingTM for funds, or "star rating," is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods. Past performance is no guarantee of future results.
©2021 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.
Important risk information can be found on the Portfolio tab.
Not FDIC insured | May lose value | No bank guarantee
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.
©2021 Northern Funds | Northern Funds are distributed by Northern Funds Distributors, LLC, not affiliated with Northern Trust.