Northern Funds International Equity Index Fund Q4 2025 Commentary

Fund Commentary In the fourth quarter of 2025, the MSCI EAFE ND index (Fund Index) returned 4.86%. International equities outperformed US equities, as measured by the S&P 500 index which returned 2.66% in the fourth quarter. In the fourth quarter of 2025, the MSCI EAFE ND index (Fund Index) returned 4.86%. International equities outperformed US equities, as measured by the S&P 500 index which returned 2.66% in the fourth quarter.

Fund Commentary In the fourth quarter of 2025, the MSCI EAFE ND index (Fund Index) returned 4.86%. International equities outperformed US equities, as measured by the S&P 500 index which returned 2.66% in the fourth quarter. In the fourth quarter of 2025, the MSCI EAFE ND index (Fund Index) returned 4.86%. International equities outperformed US equities, as measured by the S&P 500 index which returned 2.66% in the fourth quarter.