Morningstar Ratings
OVERALL MORNINGSTAR RATINGS™ FOR SELECT NORTHERN FUNDS AS OF 01/31/21
The Morningstar Rating™ 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.
Global Sustainability Index (Class I Shares) received 4 stars for the 3-year rating among 765 world large stock funds, 3 stars for the 5-year rating among 637 funds and 4 stars for the 10-year rating among 395 funds.
Global Sustainability Index (Class K Shares) received 4 stars for the 3-year rating among 765 world large stock funds, 3 stars for the 5-year rating among 637 funds and 4 stars for the 10-year rating among 395 funds.
Income Equity received 5 stars for the 3-year rating among 1,130 large value funds, 4 stars for the 5-year rating among 1,004 funds and 4 stars for the 10-year rating among 717 funds.
Mid-Cap Index received 3 stars for the 3-year rating among 376 mid-cap blend funds, 3 stars for the 5-year rating among 310 funds and 4 stars for the 10-year rating among 219 funds.
Multi-Manager Global Real Estate received 4 stars for the 3-year rating among 188 global real estate funds, 4 stars for the 5-year rating among 166 funds and 3 stars for the 10-year rating among 100 funds.
Small Cap Core (Class I Shares) received 4 stars for the 3-year rating among 630 small blend funds, 4 stars for the 5-year rating among 526 funds and 4 stars for the 10-year rating among 368 funds.
Small Cap Core (Class K Shares) received 4 stars for the 3-year rating among 630 small blend funds, 4 stars for the 5-year rating among 526 funds and 4 stars for the 10-year rating among 368 funds.
Small Cap Index received 4 stars for the 3-year rating among 630 small blend funds, 4 stars for the 5-year rating among 526 funds and 4 stars for the 10-year rating among 368 funds.
Small Cap Value received 3 stars for the 3-year rating among 390 small value funds, 3 stars for the 5-year rating among 362 funds and 4 stars for the 10-year rating among 259 funds.
Stock Index received 4 stars for the 3-year rating among 1,230 large blend funds, 4 stars for the 5-year rating among 1,066 funds and 4 stars for the 10-year rating among 809 funds.
Northern US Quality ESG (Class I) received 4 stars for the 3-year rating among 1,230 large blend funds.
Northern US Quality ESG (Class K) received 4 stars for the 3-year rating among 1,230 large blend funds.
Arizona Tax-Exempt received 4 stars for the 3-year rating among 140 municipal single state intermediate funds, 4 stars for the 5-year rating among 124 funds and 5 stars for the 10-year rating among 107 funds.
Ultra-Short Fixed Income received 4 stars for the 3-year rating among 190 ultrashort bond funds, 4 stars for the 5-year rating among 148 funds and 4 stars for the 10-year rating among 70 funds.
US Treasury Index received 4 stars for the 3-year rating among 223 intermediate government bond funds, 4 stars for the 5-year rating among 201 funds and 4 stars for the 10-year rating among 178 funds.
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