Please be advised you are now leaving the Northern Funds section and being directed to a site maintained by Northern Trust. Please click OK to continue.
Northern Trust Logo
 
Equity Index

Mid Cap Index

 
.
 
 
 
.
TickerNAV AS OF 08/16/17
NOMIX$18.74 $0.04 Arrow Up Icon
.

Find A Fund

 
Search go
  • Snapshot
  • Performance
  • Portfolio
  • Management
  • Fund Documents
Snapshot
This fund is a good choice for those moderate risk investors who seek competitive long-term investment returns through a broadly diversified portfolio. 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 MidCap 400 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 MidCap 400 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 MidCap 400 Index.
Risk/Reward Potential
”Risk/Reward
Overall Morningstar RatingTM
”Morningstar

Among 368 mid-cap blend funds derived from a weighted average of the fund's 3-, 5- and 10-year risk-adjusted returns as of 7/31/17.

Mid Cap Index received 4 stars for the 3-year rating among 368 mid-cap blend funds, 4 stars for the 5-year rating among 333 funds and 4 stars for the 10-year rating among 222 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.

©2017 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.

 

CUSIP665130100
YTD Total Return4.75% (as of 08/16/17)
Inception Date03/22/05
Total Net Assets$2,223,530,351 (as of 07/31/17)

Total Returns

Total Returns for Month Ending 07/31/17
 Annualized
    Month   3-Month     YTD  1-Year  3-Year  5-Year  10-Year Since
Incept.
Mid Cap Index0.90%1.97%6.82%14.51%10.26%14.93%8.88%9.56%
S&P MidCap 400 Index0.88%2.02%6.92%14.69%10.44%15.13%9.13%9.87%
Morningstar Cat. Avg.
Mid-Cap Blend
1.05%2.37%7.36%13.72%7.15%13.22%6.67%N/A

Total Returns

Total Returns for Quarter Ending 06/30/17
 Annualized
    Month   3-Month     YTD  1-Year  3-Year  5-Year  10-Year Since
Incept.
Mid Cap Index1.55%1.88%5.87%18.36%8.35%14.73%8.30%9.55%
S&P MidCap 400 Index1.62%1.97%5.99%18.57%8.53%14.92%8.56%9.87%
Morningstar Cat. Avg.
Mid-Cap Blend
1.51%1.93%6.23%17.37%5.51%12.98%6.12%N/A
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 0.15%. The "Total Annual Fund Operating Expenses After Expense Reimbursement" may be higher than the contractual limitation as a result of the excepted expenses, including but not limited to acquired fund fees and expenses, that are not reimbursed. This contractual limitation may not be terminated before July 31, 2018 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
Mid Cap Index0.19%0.16%
Includes contractual expense reimbursements that, if not extended, will end on July 31, 2018. The Fund also includes voluntary expense reimbursements that may change or end at any time.

Calendar Year Returns

 
       2016      2015      2014      2013      2012
Mid Cap Index20.58%-2.36%9.60%33.24%17.76%
S&P MidCap 400 Index20.74%-2.18%9.77%33.50%17.88%
Morningstar Category Avg. Mid-Cap Blend14.14%-4.75%7.80%34.10%16.15%
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
ResMed Inc0.7%
Packaging Corp of America0.6%
Domino's Pizza Inc0.6%
Duke Realty Corp0.6%
Cadence Design Systems Inc0.6%
Teleflex Inc0.6%
MSCI Inc0.6%
SVB Financial Group0.6%
Alleghany Corp0.6%
Trimble Inc0.5%
% of Portfolio6.0%
As of 06/30/17
Sector WeightingsFundBenchmark
Information Technology17.9%17.9%
Financials16.4%16.4%
Industrials15.1%15.1%
Consumer Discretionary11.7%11.7%
Real Estate9.8%9.8%
Health Care9.1%9.1%
Materials7.6%7.6%
Utilities5.5%5.5%
Consumer Staples3.7%3.7%
Energy3.0%3.0%
Telecommunication Services0.2%0.2%
TOTAL100.0%100.0%
As of 06/30/17
Risk Characteristics*Mid Cap IndexS&P MidCap 400 Index
Beta1.001.00
Up Market Capture99.33100.00
Down Market Capture100.35100.00
Information Ratio–1.980.00
*Above risk characteristics are based on a 3-year time period
   
DateHoldings File
As of 07/31/17Insert Icon
As of 06/30/17Insert Icon
As of 05/31/17Insert Icon
As of 04/30/17Insert Icon
As of 03/31/17Insert Icon
As of 02/28/17Insert Icon

Fund Characteristics

Number of Holdings400
Portfolio Turnover19.71% (as of 03/31/17)
Dividend ScheduleAnnually
Dividend Income Last QuarterN/A
Capital Gain Income Last QuarterN/A
Weighted Average Market Cap ($Mil)$5,415
BenchmarkS&P MidCap 400 Index
Morningstar CategoryMid-Cap Blend
Trailing 12-Month Price-to-Earnings Ratio
Fund23.15
Benchmark23.15
Price-to-Book Ratio
Fund2.60
Benchmark2.60
Historical 5-Year Earnings Growth
Fund10.35
Benchmark10.11
Asset Allocation 
Stocks98.0%
Cash2.0%
TOTAL100.0%
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.
Mid-Cap Risk: Mid-capitalization stocks typically carry additional risk, since smaller companies generally have higher risk of failure and, historically, their stocks have experienced a greater degree of volatility.
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 MidCap 400® Index is an unmanaged index consisting of 400 mid-cap stocks. The S&P MidCap 400® Index covers over 7% of the U.S. equities 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.

.
CommentaryFact SheetHoldingsSummary ProspectusProspectus    Statement of Additional InformationAnnual ReportSemi Annual Report
CommentaryDownload PDFDownload ExcelDownload PDFDownload PDFDownload PDFDownload PDFDownload PDF
View AllView All View AllView AllView AllView AllView All

Not FDIC insured | May lose value | No bank guarantee

View investment term definitions

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.

©2017 Northern Funds | Northern Funds are distributed by Northern Funds Distributors, LLC, not affiliated with Northern Trust.