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Trending ETFs

ULTRA-SHORT FIXED INCOME FUND

mutual fund
NUSFX
Payout Change
Pending
Price as of:
$10.31 +0.0 +0.0%
primary theme
U.S. Ultrashort Bond Duration
share class
Other (NUSFX) K (SWSFX)
NUSFX (Mutual Fund)

ULTRA-SHORT FIXED INCOME FUND

Payout Change
Pending
Price as of:
$10.31 +0.0 +0.0%
primary theme
U.S. Ultrashort Bond Duration
share class
Other (NUSFX) K (SWSFX)
NUSFX (Mutual Fund)

ULTRA-SHORT FIXED INCOME FUND

Payout Change
Pending
Price as of:
$10.31 +0.0 +0.0%
primary theme
U.S. Ultrashort Bond Duration
share class
Other (NUSFX) K (SWSFX)

Name

As of 12/12/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

ULTRA-SHORT FIXED INCOME FUND

NUSFX | Fund

$10.31

$1.66 B

5.05%

$0.52

0.30%

Vitals

YTD Return

5.6%

1 yr return

6.1%

3 Yr Avg Return

3.5%

5 Yr Avg Return

2.6%

Net Assets

$1.66 B

Holdings in Top 10

18.6%

52 WEEK LOW AND HIGH

$10.3
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.30%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 84.82%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$2,500

IRA

$500

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 12/12/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

ULTRA-SHORT FIXED INCOME FUND

NUSFX | Fund

$10.31

$1.66 B

5.05%

$0.52

0.30%

NUSFX - Profile

Distributions

  • YTD Total Return 5.6%
  • 3 Yr Annualized Total Return 3.5%
  • 5 Yr Annualized Total Return 2.6%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 0.48%
DIVIDENDS
  • Dividend Yield 5.1%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    ULTRA-SHORT FIXED INCOME FUND
  • Fund Family Name
    Northern Trust
  • Inception Date
    Jun 18, 2009
  • Shares Outstanding
    N/A
  • Share Class
    Other
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Morten Olsen

Fund Description

The Fund will, under normal circumstances, invest primarily (and not less than 80% of its net assets) in fixed-income securities. These include:
∎
Obligations of the U.S. government or its agencies, instrumentalities or sponsored enterprises;
∎
Obligations of U.S. state and local governments, and foreign governments;
∎
Commercial paper and other obligations of domestic and foreign banks and corporations;
∎
Zero coupon bonds and debentures;
∎
Inflation-indexed securities; and
∎
Mortgage and other asset-backed securities.
Under normal market conditions, the Fund will invest at least 25% of its total assets in securities issued by companies in the financial services industry. Companies in the financial services industry include but are not limited to U.S. and non‑U.S. companies involved in banking, mortgage, consumer or
specialized finance, investment banking, securities brokerage, asset management and custody, insurance, financial investment, real estate and mortgage finance and financial conglomerates, and related asset-backed securities.
The Fund invests in investment grade domestic debt obligations (i.e., obligations rated within the top four rating categories by a Nationally Recognized Statistical Rating Organization (“NRSRO”) or of comparable quality as determined by the Fund’s investment adviser). Credit ratings are determined at the time of purchase. The Fund’s average portfolio is expected to be “A” or better. The Fund will focus primarily on U.S. securities, but may invest in fixed-income securities of foreign issuers. The Fund’s investments in foreign securities will consist only of U.S. dollar-denominated securities. The Fund may also invest in securities that are subject to resale restrictions such as those contained in Rule 144A promulgated under the Securities Act of 1933.
The Fund seeks to provide investors with more yield than a money market fund with the potential for capital appreciation. The Fund is not a money market fund, and its share price will fluctuate.
In buying and selling securities for the Fund, NTI uses a relative value approach. This approach involves an analysis of general economic and market conditions. It also involves the use of models that analyze and compare expected returns and assumed risks. Under the relative value approach, NTI will emphasize particular securities and types of securities (such as treasury, agency, asset-backed, mortgage-backed and corporate securities) that the team believes will provide a favorable return in light of these risks.
The Fund’s dollar-weighted average maturity, under normal circumstances, will range between six and eighteen months. Under normal circumstances, the Fund will invest only in securities with a duration of three years or less at the time of purchase. NTI may adjust the Fund’s holdings based on actual or anticipated changes in interest rates or credit quality, and may shorten the Fund’s duration below six months based on NTI’s interest rate outlook or adverse market conditions.
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NUSFX - Performance

Return Ranking - Trailing

Period NUSFX Return Category Return Low Category Return High Rank in Category (%)
YTD 5.6% 0.0% 8.6% 53.30%
1 Yr 6.1% 1.0% 9.2% 35.38%
3 Yr 3.5%* -0.9% 7.1% 71.22%
5 Yr 2.6%* -0.8% 4.4% 51.05%
10 Yr 2.1%* -4.1% 27.9% 40.50%

* Annualized

Return Ranking - Calendar

Period NUSFX Return Category Return Low Category Return High Rank in Category (%)
2023 2.2% -2.3% 4.3% 20.28%
2022 -2.5% -6.5% 0.5% 62.93%
2021 -0.9% -2.1% 0.3% 86.93%
2020 0.8% -3.1% 1.8% 17.80%
2019 1.2% -1.2% 6.1% 13.26%

Total Return Ranking - Trailing

Period NUSFX Return Category Return Low Category Return High Rank in Category (%)
YTD 5.6% 0.0% 8.6% 53.30%
1 Yr 6.1% 1.0% 9.2% 35.38%
3 Yr 3.5%* -0.9% 7.1% 71.22%
5 Yr 2.6%* -0.8% 4.4% 51.05%
10 Yr 2.1%* -4.1% 27.9% 40.50%

* Annualized

Total Return Ranking - Calendar

Period NUSFX Return Category Return Low Category Return High Rank in Category (%)
2023 5.9% 0.8% 12.1% 41.04%
2022 -1.1% -5.1% 2.5% 78.05%
2021 0.0% -2.1% 14.5% 70.35%
2020 2.4% -1.0% 3.6% 20.94%
2019 3.7% 0.3% 9.6% 17.13%

NAV & Total Return History

NUSFX - Holdings

Concentration Analysis

NUSFX Category Low Category High NUSFX % Rank
Net Assets 1.66 B 26.6 K 22.6 B 40.09%
Number of Holdings 208 2 1258 68.40%
Net Assets in Top 10 306 M 27.7 K 22.7 B 38.68%
Weighting of Top 10 18.57% 6.3% 159.6% 56.13%

Top 10 Holdings

  1. T 4.625 11/15/26 2.79%
  2. BFCM F 02/04/25 144A 2.12%
  3. NWG F 09/29/26 144A 1.99%
  4. BNS F 03/02/26 1.82%
  5. B 0 05/15/25 1.78%
  6. BLK 4.6 07/26/27 1.75%
  7. INTNED F 04/01/27 1.65%
  8. MQGAU F 10/14/25 144A 1.58%
  9. BMO F 09/15/26 MTN 1.57%
  10. T 4.125 02/15/27 1.53%

Asset Allocation

Weighting Return Low Return High NUSFX % Rank
Bonds 		91.83% 0.00% 129.63% 29.25%
Convertible Bonds 		9.30% 0.00% 15.25% 9.95%
Other 		6.04% -13.48% 99.96% 58.02%
Cash 		2.13% 0.00% 112.72% 74.53%
Stocks 		0.00% 0.00% 97.16% 31.60%
Preferred Stocks 		0.00% 0.00% 1.02% 17.45%

Bond Sector Breakdown

Weighting Return Low Return High NUSFX % Rank
Corporate 		81.40% 0.00% 99.91% 2.84%
Securitized 		8.07% 0.00% 100.00% 70.62%
Government 		7.48% 0.00% 100.00% 35.07%
Cash & Equivalents 		1.21% 0.00% 112.72% 75.47%
Municipal 		0.91% 0.00% 70.39% 19.43%
Derivative 		0.00% -13.48% 16.56% 31.13%

Bond Geographic Breakdown

Weighting Return Low Return High NUSFX % Rank
US 		91.83% 0.00% 129.63% 29.25%
Non US 		0.00% 0.00% 20.18% 28.30%

NUSFX - Expenses

Operational Fees

NUSFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.30% 0.08% 29.63% 78.95%
Management Fee 0.23% 0.00% 1.19% 34.43%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.40% 68.18%

Sales Fees

NUSFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 1.50% 5.75% N/A
Deferred Load N/A 0.25% 1.00% N/A

Trading Fees

NUSFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.00% 1.00% 40.00%

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

NUSFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 84.82% 0.00% 336.00% 66.29%

NUSFX - Distributions

Dividend Yield Analysis

NUSFX Category Low Category High NUSFX % Rank
Dividend Yield 5.05% 0.00% 8.76% 78.30%

Dividend Distribution Analysis

NUSFX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Monthly Monthly Monthly

Net Income Ratio Analysis

NUSFX Category Low Category High NUSFX % Rank
Net Income Ratio 0.48% -1.30% 14.86% 50.49%

Capital Gain Distribution Analysis

NUSFX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Distributions History

View More +

NUSFX - Fund Manager Analysis

Managers

Morten Olsen

Start Date

Tenure

Tenure Rank

Jul 31, 2016

5.84

5.8%

Morten Olsen is a Vice President of Northern Trust Investments, Inc. Mr. Olsen joined Northern Trust Investments, Inc. in 2009. From 2004 to 2008, Mr. Olsen worked at Lehman Brothers and from 2008 to 2009 at Nomura. In both roles, Mr. Olsen was responsible for the investment of the banks liquidity pool.

Bilal Memon

Start Date

Tenure

Tenure Rank

Oct 23, 2018

3.61

3.6%

Bilal Memon is Vice President of NTI. Mr. Memon joined NTI in 2007 and is responsible for managing various short duration portfolios.Prior to joining Northern Trust in 2007, he was with Ford Motor Company for three years. He joined them as the Associate Director of Pension Asset Management, became a Fixed Income Portfolio Manager in 2005, and finally became part of the Treasury Staff in 2006.Bilal received his B.A degree in Economics from The University of Chicago and his M.B.A. degree in Analytical Finance and Marketing Management from The University of Chicago Graduate School of Business.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 32.44 6.52 0.13

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