- ISIN
- US64129H1041
- CUSIP
- 64129H104
- Issuer
- Neuberger Berman
- Inception Date
- Mar 26, 2013
- Category
- MLPs, Energy Equities
- Index Tracked
- No Index (Active)
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Large-Cap
- Asset Class Style
- Value
Share Price Chart
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Performance
NML Performance Chart
Neuberger Berman MLP (NML) is up 28.7% since the beginning of the year. NML is currently trading at $10 per share. Investors who bought $1,000 worth of NML shares 5 years ago would now be looking at an investment worth $3,247.
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Returns By Period
Neuberger Berman MLP (NML) has returned 28.72% so far this year and 30.46% over the past 12 months. Over the last ten years, NML has returned 10.17% per year, falling short of the S&P 500 Index benchmark, which averaged 13.29% annually.
Neuberger Berman MLP
- 1D
- -0.10%
- 1M
- 4.16%
- 6M
- 19.29%
- YTD
- 28.72%
- 1Y
- 30.46%
- 3Y*
- 24.30%
- 5Y*
- 26.56%
- 10Y*
- 10.17%
- ALL TIME*
- 2.87%
Benchmark (S&P 500 Index)
- 1D
- 1.48%
- 1M
- 1.57%
- 6M
- 8.95%
- YTD
- 11.03%
- 1Y
- 21.84%
- 3Y*
- 19.28%
- 5Y*
- 11.54%
- 10Y*
- 13.29%
- ALL TIME*
- 8.11%
NML Monthly Returns History
Based on dividend-adjusted daily data since Mar 26, 2013, NML's average daily return is +0.04%, while the average monthly return is +0.81%. At this rate, an investment would double in approximately 7.2 years.
Historically, 57% of months were positive and 43% were negative. The best month was Apr 2020 with a return of +52.1%, while the worst month was Mar 2020 at -65.7%. The longest winning streak lasted 10 consecutive months, and the longest losing streak was 4 months.
On a daily basis, NML closed higher 51% of trading days. The best single day was Mar 24, 2020 with a return of +30.2%, while the worst single day was Mar 18, 2020 at -32.8%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 11.21% | 9.49% | 3.44% | 0.42% | -5.96% | 4.29% | 3.85% | -0.10% | 28.72% | ||||
| 2025 | 3.95% | -1.23% | 1.22% | -8.46% | 4.97% | 6.20% | -2.02% | 0.34% | 0.56% | -5.17% | 6.69% | -1.63% | 4.36% |
| 2024 | -1.92% | 4.53% | 7.22% | 0.11% | 6.54% | 4.15% | 1.11% | 1.62% | 1.97% | 1.68% | 14.76% | -5.85% | 40.55% |
| 2023 | 9.76% | -0.85% | -7.02% | 1.64% | -4.85% | 11.25% | 4.52% | 0.24% | -2.15% | -6.00% | 8.77% | 0.44% | 14.61% |
| 2022 | 6.61% | 5.88% | 9.85% | -0.32% | 8.19% | -12.77% | 15.23% | 3.96% | -14.01% | 13.63% | 4.38% | -6.86% | 32.75% |
| 2021 | 6.89% | 9.33% | 7.79% | 7.75% | 6.77% | 4.46% | -4.08% | 0.55% | 3.27% | 9.26% | -6.24% | 4.72% | 61.76% |
Benchmark Metrics
Neuberger Berman MLP has an annualized alpha of -4.29%, beta of 1.03, and R2 of 0.24 versus S&P 500 Index. Calculated based on daily prices since March 26, 2013.
- This fund participated in 136.01% of S&P 500 Index downside but only 90.27% of its upside - more exposed to losses than it benefited from rallies.
- R2 of 0.24 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.
- Alpha
- -4.29%
- Beta
- 1.03
- R²
- 0.24
- Upside Capture
- 90.27%
- Downside Capture
- 136.01%
Expense Ratio
NML has a high expense ratio of 2.72%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
NML ranks 66 for risk / return — above 66% of mutual funds peers on PortfoliosLab. Its historical combined result is above most peers.
Risk / Return Metrics
The table below present risk-adjusted performance metrics for Neuberger Berman MLP (NML) 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.
| NML | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.04 | ||
| Sortino ratioReturn per unit of downside risk | -0.16 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.31 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 3.20 | 2.41 | +0.79 |
| Martin ratioReturn relative to average drawdown | 8.71 | 10.22 | -1.51 |
Dividends
Dividend History
Neuberger Berman MLP provided a 7.15% dividend yield over the last twelve months, with an annual payout of $0.75 per share. The fund has been increasing its distributions for 4 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.75 | $0.70 | $0.70 | $0.70 | $0.28 | $0.19 | $0.28 | $0.66 | $0.66 | $0.66 | $0.81 | $1.26 |
Dividend yield | 7.15% | 8.24% | 7.94% | 10.19% | 4.26% | 3.54% | 8.33% | 9.76% | 9.87% | 7.04% | 8.63% | 15.44% |
Monthly Dividends
The table displays the monthly dividend distributions for Neuberger Berman MLP. 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 | $0.06 | $0.06 | $0.06 | $0.07 | $0.07 | $0.07 | $0.07 | $0.00 | $0.46 | ||||
| 2025 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.70 |
| 2024 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.70 |
| 2023 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.70 |
| 2022 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.06 | $0.28 |
| 2021 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.19 |
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 MLP. 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 MLP was 90.48%, occurring on Mar 18, 2020. Recovery took 1470 trading sessions.
The current Neuberger Berman MLP drawdown is 2.52%.
Drawdown | Fall | Recovery | Underwater | Related event |
|---|---|---|---|---|
-90.48%Mar 2020 | 5y 5mo | 5y 10mo | 11y 3moOct 2014 - Jan 2026 | COVID crash2020 |
-16.88%Dec 2013 | 7mo 21d | 6mo 22d | 1y 2moApr 2013 - Jul 2014 | — |
-8.73%Jun 2026 | 1mo | 1mo 3d | 2mo 3dMay 2026 - Jul 2026 | — |
-7.19%Apr 2026 | 18d | 28d | 1mo 16dMar 2026 - May 2026 | — |
-6.34%Jul 2026 | 1d | — | 8dJul 2026 - now | — |
Drawdown Indicators
| NML | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -90.48% | -56.78% | -33.70% |
Max Drawdown (1Y)Largest decline over 1 year | -9.57% | -9.10% | -0.47% |
Max Drawdown (3Y)Largest decline over 3 years | -16.92% | -18.90% | +1.98% |
Max Drawdown (5Y)Largest decline over 5 years | -21.40% | -25.43% | +4.03% |
Max Drawdown (10Y)Largest decline over 10 years | -84.84% | -33.92% | -50.92% |
Current DrawdownCurrent decline from peak | -2.52% | -0.12% | -2.40% |
Average DrawdownAverage peak-to-trough decline | -36.67% | -10.70% | -25.97% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.50% | 2.14% | +1.36% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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