- ISIN
- US6412248451
- CUSIP
- 641224845
- Issuer
- Neuberger Berman
- Inception Date
- May 1, 2002
- Category
- REIT
- Min. Investment
- $1,000
- Distribution Policy
- Distributing
- Asset Class
- Real Estate
Share Price Chart
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Performance
NBRFX Performance Chart
Neuberger Berman Real Estate Fund (NBRFX) is up 12.1% since the beginning of the year. NBRFX is currently trading at $15 per share. Investors who bought $1,000 worth of NBRFX shares 5 years ago would now be looking at an investment worth $1,144.
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Returns By Period
Neuberger Berman Real Estate Fund (NBRFX) has returned 12.10% so far this year and 9.24% over the past 12 months. Over the last ten years, NBRFX has returned 6.42% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.
Neuberger Berman Real Estate Fund
- 1D
- -0.20%
- 1M
- -1.91%
- YTD
- 12.10%
- 6M
- 12.69%
- 1Y
- 9.24%
- 3Y*
- 7.84%
- 5Y*
- 2.73%
- 10Y*
- 6.42%
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
NBRFX Monthly Returns History
Based on dividend-adjusted daily data since May 2, 2002, NBRFX's average daily return is +0.05%, while the average monthly return is +0.87%. At this rate, an investment would double in approximately 6.7 years.
Historically, 62% of months were positive and 38% were negative. The best month was Apr 2009 with a return of +32.5%, while the worst month was Oct 2008 at -28.1%. The longest winning streak lasted 14 consecutive months, and the longest losing streak was 4 months.
On a daily basis, NBRFX closed higher 52% of trading days. The best single day was Nov 24, 2008 with a return of +17.1%, while the worst single day was Dec 1, 2008 at -16.6%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 2.02% | 7.99% | -5.82% | 9.63% | -0.73% | -0.73% | 12.10% | ||||||
| 2025 | 0.93% | 3.77% | -2.94% | -2.13% | 0.58% | 0.01% | -1.96% | 2.74% | -0.09% | -2.03% | 1.62% | -2.40% | -2.14% |
| 2024 | -5.54% | 1.17% | 1.32% | -7.90% | 5.41% | 2.61% | 7.20% | 6.43% | 3.59% | -3.23% | 3.06% | -7.65% | 5.02% |
| 2023 | 9.59% | -5.59% | -1.15% | 0.71% | -4.96% | 5.11% | 1.19% | -3.29% | -6.50% | -3.05% | 11.88% | 9.38% | 11.70% |
| 2022 | -8.10% | -4.78% | 6.94% | -3.42% | -5.17% | -7.02% | 8.33% | -5.56% | -12.78% | 1.64% | 6.08% | -5.26% | -27.35% |
| 2021 | -0.07% | 2.49% | 5.73% | 8.10% | 1.10% | 2.67% | 4.36% | 2.20% | -6.08% | 7.44% | -1.21% | 14.46% | 47.87% |
Benchmark Metrics
Neuberger Berman Real Estate Fund has an annualized alpha of 2.09%, beta of 1.01, and R2 of 0.51 versus S&P 500 Index. Calculated based on daily prices since May 02, 2002.
- This fund generated an annualized alpha of 2.09% versus S&P 500 Index - delivering returns beyond what market exposure alone would predict.
- With beta of 1.01 and R2 of 0.51, this fund moves broadly in line with S&P 500 Index - much of its variation is explained by market exposure rather than independent behavior.
- Alpha
- 2.09%
- Beta
- 1.01
- R²
- 0.51
- Upside Capture
- 98.02%
- Downside Capture
- 96.54%
Expense Ratio
NBRFX has a high expense ratio of 1.39%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
NBRFX ranks 10 for risk / return — in the bottom 10% of mutual funds on our site. This means you're taking on significantly more risk than the returns justify. Consider whether the potential upside is worth the volatility, or explore alternatives with better risk / return profiles.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Neuberger Berman Real Estate Fund (NBRFX) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| NBRFX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.36 | ||
| Sortino ratioReturn per unit of downside risk | -1.77 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.37 | -0.24 |
| Calmar ratioReturn relative to maximum drawdown | 1.17 | 2.78 | -1.62 |
| Martin ratioReturn relative to average drawdown | 3.19 | 12.44 | -9.25 |
Dividends
Dividend History
Neuberger Berman Real Estate Fund provided a 1.81% dividend yield over the last twelve months, with an annual payout of $0.27 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.27 | $0.28 | $0.27 | $0.29 | $1.56 | $1.49 | $0.29 | $0.69 | $0.82 | $0.85 | $1.86 | $1.29 |
Dividend yield | 1.81% | 2.07% | 1.94% | 2.11% | 12.58% | 7.76% | 2.03% | 4.73% | 6.98% | 6.43% | 14.86% | 9.29% |
Monthly Dividends
The table displays the monthly dividend distributions for Neuberger Berman Real Estate Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.06 | $0.00 | $0.00 | $0.00 | $0.06 | ||||||
| 2025 | $0.00 | $0.00 | $0.07 | $0.00 | $0.00 | $0.09 | $0.00 | $0.00 | $0.06 | $0.00 | $0.00 | $0.06 | $0.28 |
| 2024 | $0.00 | $0.00 | $0.07 | $0.00 | $0.00 | $0.08 | $0.00 | $0.00 | $0.07 | $0.00 | $0.00 | $0.05 | $0.27 |
| 2023 | $0.00 | $0.00 | $0.08 | $0.00 | $0.00 | $0.08 | $0.00 | $0.00 | $0.07 | $0.00 | $0.00 | $0.05 | $0.29 |
| 2022 | $0.00 | $0.00 | $0.07 | $0.00 | $0.00 | $0.07 | $0.00 | $0.00 | $0.07 | $0.00 | $0.00 | $1.35 | $1.56 |
| 2021 | $0.00 | $0.00 | $0.05 | $0.00 | $0.00 | $0.06 | $0.00 | $0.00 | $0.06 | $0.00 | $0.00 | $1.30 | $1.49 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Neuberger Berman Real Estate Fund. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Neuberger Berman Real Estate Fund was 70.52%, occurring on Mar 6, 2009. Recovery took 735 trading sessions.
The current Neuberger Berman Real Estate Fund drawdown is 6.52%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Financial crisis2007–2009 | -70.52%Mar 2009 | 2y 27d | 2y 11mo | 4y 12moFeb 2007 - Feb 2012 |
COVID crash2020 | -37.56%Mar 2020 | 28d | 1y 14d | 1y 1moFeb 2020 - Apr 2021 |
2023 bear market2023 | -35.60%Oct 2023 | 1y 9mo | — | 4y 5moJan 2022 - now |
2004 correction2004 | -18.39%May 2004 | 1mo 8d | 3mo 26d | 5mo 4dApr 2004 - Sep 2004 |
2005 correction2005 | -17.40%Dec 2005 | 4mo 18d | 7mo 11d | 11mo 29dAug 2005 - Jul 2006 |
Drawdown Indicators
| NBRFX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -70.52% | -56.78% | -13.74% |
Max Drawdown (1Y)Largest decline over 1 year | -7.84% | -9.10% | +1.26% |
Max Drawdown (3Y)Largest decline over 3 years | -18.06% | -18.90% | +0.84% |
Max Drawdown (5Y)Largest decline over 5 years | -35.60% | -25.43% | -10.17% |
Max Drawdown (10Y)Largest decline over 10 years | -37.56% | -33.92% | -3.64% |
Current DrawdownCurrent decline from peak | -6.52% | -1.80% | -4.72% |
Average DrawdownAverage peak-to-trough decline | -11.80% | -10.71% | -1.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.86% | 2.03% | +0.83% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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