Northern High Yield Municipal Fund (NHYMX) a Zacks Rank #1 (Strong Buy) was incepted in December 1998 and is managed by Northern Trust (NASDAQ:NTRS) Investments. NHYMX seeks a high level of current income exempt from regular federal income tax. NHYMX concentrates primarily on municipalities that issue medium (rated A and BBB) and lower-quality debt (rated BBB and below). Lower-quality debt or high-yield securities are also commonly referred to as 'non-investment grade' or 'junk bonds.' NHYMX invests, under normal circumstances, at least 65% of its net assets in rated and unrated municipal instruments that are of low quality or medium or upper medium quality.
The Northern High Yield Municipal fund, managed by Northern, carries an expense ratio of 0.80%. Moreover, NHYMX requires a minimal initial investment of $2,500.
NHYMX has a history of positive total returns for over 10 years. Specifically, the fund’s returns over the 3, 5 year benchmarks; 3 year 6.6% and 5 year 6.1%. To see how this fund performed compared in its category, and other #1 and #2 Ranked Mutual Funds, please click here.
NHYMX’s performance, as of the last filing, when compared to funds in its category was in the top 18% over the past 1 year, in the top 16% over the past 3 years, and in the 12% over the past 5 years.
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Zacks Investment Research