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Equity Index

Small Cap Index

 
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TickerNAV AS OF 02/21/20
NSIDX$13.34 $-0.14 Arrow Down Icon
 
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  • Snapshot
  • Performance
  • Portfolio
  • Management
  • Fund Documents
Snapshot
For those aggressive investors seeking competitive long-term investment returns through a broadly diversified portfolio, this Fund may be a good choice for you. The Small Cap Index Fund seeks to offer investment results, before expenses, approximating the aggregate price and dividend performance of the securities included in the Russell 2000 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 changes in the Russell 2000 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 Russell 2000® 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 are an aggressive investor seeking competitive long-term investment returns through a broadly diversified portfolio, this Fund may be appropriate for you. It seeks to offer investment results, before expenses, approximating the aggregate price and dividend performance of the securities included in the Russell 2000 Index.
Risk/Reward Potential
”Risk/Reward

Fund Literature

 
      Important risk information can be found on the Portfolio tab.

       
      CUSIP665162723
      YTD Total Return0.68% (as of 02/21/20)
      Inception Date09/03/99
      Total Net Assets$1,167,043,895 (as of 03/31/19)

      Total Returns

      Total Returns for Quarter Ending 03/31/19
       Annualized
          Month   3-Month     YTD  1-Year  3-Year  5-Year  10-Year Since
      Incept.
      Small Cap Index-2.06%14.58%14.58%1.97%12.82%6.93%15.17%7.71%
      Russell 2000 Index-2.09%14.58%14.58%2.05%12.92%7.05%15.36%8.36%
      Morningstar Cat. Avg.
      Small Blend      		-2.31%13.34%13.34%-0.03%10.17%5.62%14.67%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 that are not reimbursed. This contractual limitation may not be terminated before July 31, 2019 without the approval of the Board of Trustees. In the absence of contractual expense reimbursements, 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‡
      Small Cap Index0.19%0.15%
      ‡Includes contractual expense reimbursements that, if not extended, will end on July 31, 2019. The Fund also includes voluntary expense reimbursements that may change or end at any time.

      Calendar Year Returns

       
             2018      2017      2016      2015      2014
      Small Cap Index-11.14%14.59%21.17%-4.56%4.69%
      Russell 2000 Index-11.01%14.65%21.31%-4.41%4.89%
      Morningstar Category Avg. Small Blend-12.72%12.28%20.78%-5.38%3.79%
      Performance quoted represents past performance and does not guarantee future results.
      Important risk information can be found on the Portfolio tab.

       
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      Portfolio Composition
         
      Top 10 HoldingsFund
      Etsy Inc0.4%
      Five Below Inc0.3%
      Trade Desk Inc 0.3%
      Integrated Device Technology Inc0.3%
      HubSpot Inc0.3%
      Planet Fitness Inc 0.3%
      Cree Inc0.3%
      Ciena Corp0.3%
      Primerica Inc0.3%
      Array BioPharma Inc0.3%
      As of 03/31/19
      Sector WeightingsFundBenchmark
      Financials17.0%17.1%
      Health Care16.0%16.0%
      Information Technology15.6%15.6%
      Industrials14.4%14.4%
      Consumer Discretionary12.0%12.0%
      Real Estate7.6%7.6%
      Materials3.8%3.8%
      Utilities3.8%3.8%
      Energy3.7%3.7%
      Communication Services3.3%3.3%
      Consumer Staples2.8%2.8%
      As of 03/31/19
      Risk Characteristics*Small Cap IndexRussell 2000 Index
      Beta1.001.00
      Up Market Capture99.84100.00
      Down Market Capture100.36100.00
      Information Ratio–0.820.00
      *Above risk characteristics are based on a 3-year time period
         
      DateHoldings File
      As of 03/31/19Insert Icon
      As of 02/28/19Insert Icon
      As of 01/31/19Insert Icon
      As of 12/31/18Insert Icon
      As of 11/30/18Insert Icon
      As of 10/31/18Icon

      Fund Characteristics

      Number of Holdings1,998
      Portfolio Turnover13.03% (as of 03/31/18)
      Dividend ScheduleAnnually
      Dividend Income Last QuarterN/A
      Capital Gain Income Last QuarterN/A
      Weighted Average Market Cap ($Mil)$2,424
      BenchmarkRussell 2000 Index
      Morningstar CategorySmall Blend
      Trailing 12-Month Price-to-Earnings Ratio
      Fund18.49
      Benchmark18.50
      Price-to-Book Ratio
      Fund2.16
      Benchmark2.16
      Historical 5-Year Earnings Growth
      Fund11.55
      Benchmark11.27
      Asset Allocation 
      Stocks98.7%
      Cash1.3%
      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.
      Small-Cap Risk: Small-capitalization funds typically carry additional risks since smaller companies generally have a higher risk of failure. Their stocks are subject to a greater degree of volatility, trade in lower volume and may be less liquid.
      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.
      Russell 2000® Index is an unmanaged index which measures the performance of the 2,000 smallest of the 3,000 largest U.S. companies, based on market capitalization. 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.

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