Neuberger Berman Municipal Impact Fund (NMIIX)

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Neuberger Berman Municipal Impact Fund (NMIIX) is up 0.1% since the beginning of the year. NMIIX is currently trading at $16 per share. Investors who bought $1,000 worth of NMIIX shares 5 years ago would now be looking at an investment worth $1,010.

Neuberger Berman Municipal Impact Fund (NMIIX) has returned 0.12% so far this year and 4.31% over the past 12 months. Over the last ten years, NMIIX has returned 1.39% per year, falling short of the S&P 500 Index benchmark, which averaged 13.66% annually.

Based on dividend-adjusted daily data since Mar 12, 2013, NMIIX's average daily return is +0.01%, while the average monthly return is +0.15%. At this rate, an investment would double in approximately 38.5 years.

Historically, 65% of months were positive and 35% were negative. The best month was Nov 2023 with a return of +5.1%, while the worst month was Sep 2022 at -3.4%. The longest winning streak lasted 14 consecutive months, and the longest losing streak was 4 months.

On a daily basis, NMIIX closed higher 39% of trading days. The best single day was Mar 25, 2020 with a return of +3.3%, while the worst single day was Mar 20, 2020 at -2.5%.

Neuberger Berman Municipal Impact Fund has an annualized alpha of 1.64%, beta of 0.01, and R2 of 0.01 versus S&P 500 Index. Calculated based on daily prices since March 13, 2013.

• This fund participated in 11.71% of S&P 500 Index downside but only 10.13% of its upside - more exposed to losses than it benefited from rallies.
• Beta of 0.01 may look defensive, but with R2 of 0.01 this fund is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this fund's risk.
• R2 of 0.01 means this fund moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.

NMIIX has an expense ratio of 0.43%, placing it in the medium range.

NMIIX ranks 55 for risk / return — on par with similar mutual funds. You're getting a typical balance of risk and reward. Not a standout, but not a red flag either — a reasonable choice if other factors align with your goals.

The table below present risk-adjusted performance metrics for Neuberger Berman Municipal Impact Fund (NMIIX) and compare them to S&P 500 Index.

Neuberger Berman Municipal Impact Fund provided a 2.79% dividend yield over the last twelve months, with an annual payout of $0.45 per share. The fund has been increasing its distributions for 3 consecutive years.

The table displays the monthly dividend distributions for Neuberger Berman Municipal Impact Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.

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.

The table below displays the maximum drawdowns of the Neuberger Berman Municipal Impact 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 Impact Fund was 12.34%, occurring on Oct 25, 2022. Recovery took 800 trading sessions.

The current Neuberger Berman Municipal Impact Fund drawdown is 1.43%.

The chart below shows the rolling one-month volatility.