FDUAX vs. NMHIX

Last updated Jun 24, 2026

FDUAX (First Eagle Short Duration High Yield Municipal Fund Class A) and NMHIX (Neuberger Berman Municipal High Income Fund) are both High Yield Muni funds. A 0.67 correlation means they provide meaningful diversification when combined. FDUAX charges 0.87%/yr vs 0.52%/yr for NMHIX.

Performance

FDUAX vs. NMHIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Eagle Short Duration High Yield Municipal Fund Class A (FDUAX) and Neuberger Berman Municipal High Income Fund (NMHIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

FDUAX

• 1D: 0.00%
• 1M: 1.37%
• YTD: 2.04%
• 6M: 2.59%
• 1Y: 2.29%
• 3Y*: —
• 5Y*: —
• 10Y*: —

NMHIX

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

FDUAX vs. NMHIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FDUAX First Eagle Short Duration High Yield Municipal Fund Class A	2.04%	1.20%	6.66%
NMHIX Neuberger Berman Municipal High Income Fund	0.48%	3.56%	6.04%

Correlation

The correlation between FDUAX and NMHIX is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.49
Correlation (All Time) Calculated using the full available price history since Jan 17, 2024	0.67

The correlation between FDUAX and NMHIX shifts across timeframes, from 0.49 (1 year) to 0.67 (all time), reflecting how their relationship changes across market environments.

Return for Risk

FDUAX vs. NMHIX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FDUAX

FDUAX Risk / Return Rank: 10
FDUAX Sharpe Ratio Rank: 9
FDUAX Sortino Ratio Rank: 8
FDUAX Omega Ratio Rank: 15
FDUAX Calmar Ratio Rank: 8
FDUAX Martin Ratio Rank: 8

NMHIX

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

FDUAX vs. NMHIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Eagle Short Duration High Yield Municipal Fund Class A (FDUAX) and Neuberger Berman Municipal High Income Fund (NMHIX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

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.

	FDUAX	NMHIX	Difference
Sharpe ratio: Return per unit of total volatility	0.72	—	—
Sortino ratio: Return per unit of downside risk	1.00	—	—
Omega ratio: Gain probability vs. loss probability	1.18	—	—
Calmar ratio: Return relative to maximum drawdown	0.67	—	—
Martin ratio: Return relative to average drawdown	2.09	—	—

Drawdowns

Drawdown Indicators

	FDUAX	NMHIX	Difference
Max Drawdown Largest peak-to-trough decline	-3.96%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-3.43%	—	—
Current Drawdown Current decline from peak	0.00%	—	—
Average Drawdown Average peak-to-trough decline	-0.70%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	1.10%	—	—

Volatility

Volatility by Period

	FDUAX	NMHIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.64%	—	—
Volatility (6M) Calculated over the trailing 6-month period	1.79%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	3.19%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.23%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.23%	—	—

FDUAX vs. NMHIX - Expense Ratio Comparison

FDUAX has a 0.87% expense ratio, which is higher than NMHIX's 0.52% expense ratio.

Dividends

FDUAX vs. NMHIX - Dividend Comparison

FDUAX's dividend yield for the trailing twelve months is around 5.17%, more than NMHIX's 4.16% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
FDUAX First Eagle Short Duration High Yield Municipal Fund Class A	5.17%	4.83%	3.84%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
NMHIX Neuberger Berman Municipal High Income Fund	4.16%	3.98%	3.81%	3.11%	2.43%	2.74%	2.90%	3.36%	3.64%	3.44%	4.42%

Frequently Asked Questions

Can I hold both FDUAX and NMHIX in my portfolio?

FDUAX and NMHIX have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.