{{asset_allocation_risk}}

{{bond_risk}}

{{equity_risk}}

{{foreign_securities_risk}}

{{underlying_fund_risk}}

{{emerging_markets_risk}}

{{investment_style_risk}}

{{commodity_risk}}

{{derivatives_risk}}

{{geographic_risk}}

{{sector_risk}}

{{high_yield_risk}}

{{asset_backed_mortgage_backed_securities_risk}}

{{real_estate_risk}}

{{asset_allocation_blend_index}}

Bloomberg U.S. Aggregate Bond Index is a broad-based benchmark that measures the investment grade, U.S. dollar-denominated, fixed-rate taxable bond market, including Treasuries, government-related and corporate securities, mortgage-backed securities (agency fixed-rate and hybrid adjustable-rate mortgage pass-throughs), asset-backed securities, and commercial mortgage-backed securities (agency and non-agency). It is not possible to invest directly in an index.

{{bloomberg_us_corp_high_yield_issuer_capped_index}} 

{{bloomberg_us_tips_1_5y_index}} 

{{bloomberg_1_3m_treasury_bills_index}} 

{{internal_reference_benchmark}}

{{msci_acwi_imi_core_real_estate_index}} 

{{msci_acwi}}

{{msci_emerging_markets_imi}}

The MSCI U.S. Investable Markets Index (IMI) is a free float-adjusted market capitalization index that is designed to manage the performance of large, mid- and small cap segments of the U.S. market. It is not possible to invest directly in an index.

{{msci_world_ex_use_imi}} 

{{sp_global_infrastructure_index}}

{{sp_global_natural_resources_index}}

View investment terms definitions

Please carefully read the prospectus and summary prospectus and consider the investment objectives, risks, charges and expenses of Northern Funds carefully before investing. Call 800-595-9111 to obtain a prospectus and summary prospectus, which contains this and other information about the funds.

Investing involves risk. Principal loss is possible.

Not FDIC insured | May lose value | No bank guarantee

The Morningstar Rating^TM 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.

©2025 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.

©2025 Northern Funds | Northern Funds are distributed by Northern Funds Distributors, LLC, not affiliated with Northern Trust.