Neuberger Berman Municipal High Income Fund (NMHIX)
The fund normally invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in securities of municipal issuers that provide interest income that is exempt from federal income tax and other investments that provide investment exposure to such securities; however, the fund may invest without limit in municipal securities the interest on which may be a Tax Preference Item.
Fund Info
| ISIN | US64128K4397 |
|---|---|
| CUSIP | 64128K439 |
| Issuer | Neuberger Berman |
| Inception Date | Jun 21, 2015 |
| Category | High Yield Muni |
| Min. Investment | $1,000,000 |
| Asset Class | Bond |
Expense Ratio
NMHIX has a high expense ratio of 0.52%, indicating higher-than-average management fees.
Share Price Chart
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Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in Neuberger Berman Municipal High Income Fund, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.
Returns By Period
Neuberger Berman Municipal High Income Fund had a return of 2.19% year-to-date (YTD) and 4.80% in the last 12 months.
| Period | Return | Benchmark |
|---|---|---|
| Year-To-Date | 2.19% | 10.00% |
| 1 month | 0.98% | 2.41% |
| 6 months | 8.24% | 16.70% |
| 1 year | 4.80% | 26.85% |
| 5 years (annualized) | 1.01% | 12.81% |
| 10 years (annualized) | N/A | 10.84% |
Monthly Returns
The table below presents the monthly returns of NMHIX, with color gradation from worst to best to easily spot seasonal factors. Returns are adjusted for dividends.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | 0.77% | 0.76% | 0.53% | -1.07% | 2.19% | ||||||||
| 2023 | 3.36% | -3.22% | 1.52% | 0.30% | -0.23% | 0.75% | 0.44% | -1.42% | -3.21% | -2.28% | 6.24% | 3.11% | 5.03% |
| 2022 | -2.64% | -0.99% | -3.79% | -3.63% | 1.40% | -3.72% | 3.36% | -2.23% | -5.27% | -1.63% | 5.57% | -0.36% | -13.58% |
| 2021 | 1.64% | -1.32% | 0.71% | 1.36% | 0.95% | 0.96% | 0.85% | -0.32% | -0.95% | -0.34% | 1.06% | 0.22% | 4.86% |
| 2020 | 1.97% | 1.75% | -9.43% | -3.06% | 3.74% | 3.57% | 2.27% | -0.08% | -0.26% | 0.14% | 2.19% | 1.90% | 4.03% |
| 2019 | 0.51% | 0.70% | 1.77% | 0.30% | 1.36% | 0.57% | 0.65% | 1.70% | -0.38% | 0.28% | 0.19% | 0.37% | 8.29% |
| 2018 | -1.16% | -0.20% | 0.89% | 0.02% | 1.18% | 0.39% | 0.31% | 0.30% | -0.48% | -0.89% | 0.81% | 1.01% | 2.19% |
| 2017 | 0.92% | 1.21% | 0.40% | 1.12% | 1.70% | 0.00% | 0.79% | 1.07% | -0.39% | 0.38% | -0.12% | 1.38% | 8.78% |
| 2016 | 1.26% | 0.28% | 0.96% | 0.96% | 0.78% | 2.09% | 0.09% | 0.39% | -0.19% | -1.42% | -5.39% | 0.61% | 0.23% |
| 2015 | -0.17% | 0.44% | 0.13% | 0.84% | 1.03% | 0.61% | 0.75% | 3.69% |
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
The current rank of NMHIX is 28, suggesting that the investment has average results relative to other mutual funds in terms of risk-adjusted performance. This ranking is determined by the cumulative values of the indicators listed below.
NMHIX (Neuberger Berman Municipal High Income Fund)
Risk-Adjusted Performance Indicators
The charts below present risk-adjusted performance metrics for Neuberger Berman Municipal High Income Fund (NMHIX) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.
Dividends
Dividend History
Neuberger Berman Municipal High Income Fund granted a 3.83% dividend yield in the last twelve months. The annual payout for that period amounted to $0.36 per share.
| Period | TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.36 | $0.35 | $0.30 | $0.29 | $0.31 | $0.36 | $0.37 | $0.36 | $0.43 | $0.18 |
Dividend yield | 3.83% | 3.74% | 3.24% | 2.70% | 2.90% | 3.37% | 3.64% | 3.47% | 4.43% | 1.81% |
Monthly Dividends
The table displays the monthly dividend distributions for Neuberger Berman Municipal High Income 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | $0.03 | $0.03 | $0.03 | $0.03 | $0.00 | $0.12 | |||||||
| 2023 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.35 |
| 2022 | $0.02 | $0.02 | $0.02 | $0.02 | $0.03 | $0.03 | $0.03 | $0.02 | $0.02 | $0.02 | $0.03 | $0.03 | $0.30 |
| 2021 | $0.03 | $0.03 | $0.03 | $0.03 | $0.02 | $0.03 | $0.02 | $0.02 | $0.03 | $0.02 | $0.02 | $0.02 | $0.29 |
| 2020 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.03 | $0.03 | $0.31 |
| 2019 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.36 |
| 2018 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.37 |
| 2017 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.36 |
| 2016 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.11 | $0.43 |
| 2015 | $0.00 | $0.02 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.18 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way.
Worst Drawdowns
The table below displays the maximum drawdowns of the Neuberger Berman Municipal High Income 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 Municipal High Income Fund was 18.74%, occurring on Oct 25, 2022. The portfolio has not yet recovered.
The current Neuberger Berman Municipal High Income Fund drawdown is 7.57%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -18.74% | Aug 6, 2021 | 308 | Oct 25, 2022 | — | — | — |
| -16.38% | Mar 2, 2020 | 15 | Mar 20, 2020 | 198 | Dec 31, 2020 | 213 |
| -7.56% | Sep 8, 2016 | 60 | Dec 1, 2016 | 186 | Aug 29, 2017 | 246 |
| -2.02% | Feb 16, 2021 | 8 | Feb 25, 2021 | 35 | Apr 16, 2021 | 43 |
| -1.66% | Sep 4, 2018 | 27 | Oct 10, 2018 | 49 | Dec 20, 2018 | 76 |
Volatility
Volatility Chart
The current Neuberger Berman Municipal High Income Fund volatility is 0.76%, representing the average percentage change in the investments's value, either up or down over the past month. The chart below shows the rolling one-month volatility.