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Is NMHYX a Strong Bond Fund Right Now?

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On the lookout for a Mutual Fund Bond fund? Starting with Northern Multi-Managed High Yield Opportunity (NMHYX - Free Report) is one possibility. NMHYX holds a Zacks Mutual Fund Rank of 2 (Buy), which is based on various forecasting factors like size, cost, and past performance.

History of Fund/Manager

Northern is responsible for NMHYX, and the company is based out of Chicago, IL. Northern Multi-Managed High Yield Opportunity debuted in October of 2009. Since then, NMHYX has accumulated assets of about $212.92 million, according to the most recently available information. The fund is currently managed by Christopher Vella who has been in charge of the fund since January of 2012.

Performance

Of course, investors look for strong performance in funds. This fund has delivered a 5-year annualized total return of 2.69%, and it sits in the middle third among its category peers. Investors who prefer analyzing shorter time frames should look at its 3-year annualized total return of 6.33%, which places it in the top third during this time-frame.

When looking at a fund's performance, it is also important to note the standard deviation of the returns. The lower the standard deviation, the less volatility the fund experiences. NMHYX's standard deviation over the past three years is 8.18% compared to the category average of 8.34%. The standard deviation of the fund over the past 5 years is 9.33% compared to the category average of 8.9%. This makes the fund more volatile than its peers over the past half-decade.

Expenses

Costs are increasingly important for mutual fund investing, and particularly as competition heats up in this market. And all things being equal, a lower cost product will outperform its otherwise identical counterpart, so taking a closer look at these metrics is key for investors. In terms of fees, NMHYX is a no load fund. It has an expense ratio of 0.86% compared to the category average of 0.97%. NMHYX is actually cheaper than its peers when you consider factors like cost.

Investors need to be aware that with this product, the minimum initial investment is $2,500; each subsequent investment needs to be at least $50.

Bottom Line

Overall, Northern Multi-Managed High Yield Opportunity ( NMHYX ) has a high Zacks Mutual Fund rank, and in conjunction with its comparatively similar performance, average downside risk, and lower fees, Northern Multi-Managed High Yield Opportunity ( NMHYX ) looks like a good potential choice for investors right now.

Want even more information about NMHYX? Then go over to Zacks.com and check out our mutual fund comparison tool, and all of the other great features that we have to help you with your mutual fund analysis for additional information. If you are more of a stock investor, make sure to also check out our Zacks Rank, and our full suite of tools we have available for novice and professional investors alike.


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