HYT vs. NRO
HYT (BlackRock Corporate High Yield Fund) and NRO (Neuberger Berman Real Estate Securities Income Fund) are both mutual funds - HYT is a High Yield Bonds fund actively managed by BlackRock, while NRO is a REIT fund actively managed by Neuberger Berman. Both are actively managed. Over the past 10 years, HYT returned 6.81%/yr vs 4.49%/yr for NRO. At a 0.39 correlation, their price movements are largely independent.
Performance
HYT vs. NRO - Performance Comparison
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Returns By Period
In the year-to-date period, HYT achieves a 1.40% return, which is significantly lower than NRO's 8.22% return. Over the past 10 years, HYT has outperformed NRO with an annualized return of 6.81%, while NRO has yielded a comparatively lower 4.49% annualized return.
HYT
- 1D
- 0.36%
- 1M
- 0.09%
- 6M
- 1.11%
- YTD
- 1.40%
- 1Y
- -3.72%
- 3Y*
- 8.68%
- 5Y*
- 2.44%
- 10Y*
- 6.81%
- ALL TIME*
- 7.66%
NRO
- 1D
- 0.00%
- 1M
- 4.09%
- 6M
- 6.42%
- YTD
- 8.22%
- 1Y
- 8.37%
- 3Y*
- 13.77%
- 5Y*
- 1.52%
- 10Y*
- 4.49%
- ALL TIME*
- 4.05%
HYT vs. NRO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HYT BlackRock Corporate High Yield Fund | 1.40% | 0.06% | 14.43% | 19.92% | -22.58% | 16.62% | 11.55% | 31.19% | -7.81% | 8.99% |
NRO Neuberger Berman Real Estate Securities Income Fund | 8.22% | 0.85% | 23.87% | 15.24% | -35.04% | 29.26% | -10.88% | 47.57% | -16.37% | 13.29% |
Correlation
The correlation between HYT and NRO is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.32 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.34 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.44 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.41 |
Correlation (All Time) Calculated using the full available price history since Oct 29, 2003 | 0.39 |
The correlation between HYT and NRO shifts across timeframes, from 0.32 (1 year) to 0.44 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
HYT vs. NRO — Risk / Return Rank
HYT
NRO
HYT vs. NRO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BlackRock Corporate High Yield Fund (HYT) and Neuberger Berman Real Estate Securities Income Fund (NRO). 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.
| HYT | NRO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.95 | ||
| Sortino ratioReturn per unit of downside risk | -1.36 | ||
| Omega ratioGain probability vs. loss probability | 0.94 | 1.11 | -0.17 |
| Calmar ratioReturn relative to maximum drawdown | -0.37 | 0.72 | -1.09 |
| Martin ratioReturn relative to average drawdown | -0.83 | 1.94 | -2.77 |
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Drawdowns
HYT vs. NRO - Drawdown Comparison
The maximum HYT drawdown since its inception was -56.95%, smaller than the maximum NRO drawdown of -92.91%. Use the drawdown chart below to compare losses from any high point for HYT and NRO.
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Drawdown Indicators
| HYT | NRO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -56.95% | -92.91% | +35.96% |
Max Drawdown (1Y)Largest decline over 1 year | -10.17% | -11.61% | +1.44% |
Max Drawdown (3Y)Largest decline over 3 years | -13.95% | -24.78% | +10.83% |
Max Drawdown (5Y)Largest decline over 5 years | -29.05% | -42.35% | +13.30% |
Max Drawdown (10Y)Largest decline over 10 years | -42.59% | -62.59% | +20.00% |
Current DrawdownCurrent decline from peak | -4.70% | -4.08% | -0.62% |
Average DrawdownAverage peak-to-trough decline | -5.90% | -27.10% | +21.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.47% | 4.33% | +0.14% |
Volatility
HYT vs. NRO - Volatility Comparison
The current volatility for BlackRock Corporate High Yield Fund (HYT) is 1.88%, while Neuberger Berman Real Estate Securities Income Fund (NRO) has a volatility of 5.66%. This indicates that HYT experiences smaller price fluctuations and is considered to be less risky than NRO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HYT | NRO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.88% | 5.66% | -3.78% |
Volatility (6M)Calculated over the trailing 6-month period | 6.85% | 12.04% | -5.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.87% | 14.86% | -4.99% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.38% | 21.59% | -7.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.91% | 26.40% | -9.49% |
Dividends
HYT vs. NRO - Dividend Comparison
HYT's dividend yield for the trailing twelve months is around 11.06%, less than NRO's 12.24% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYT BlackRock Corporate High Yield Fund | 11.06% | 10.50% | 9.53% | 9.91% | 9.80% | 7.58% | 8.18% | 7.92% | 9.20% | 7.68% | 8.23% | 10.18% |
NRO Neuberger Berman Real Estate Securities Income Fund | 12.24% | 12.27% | 10.55% | 11.74% | 11.96% | 7.10% | 10.88% | 8.60% | 12.77% | 9.31% | 7.64% | 7.19% |
Frequently Asked Questions
HYT and NRO have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NRO has higher volatility (5.66%) compared to HYT (1.88%). In terms of maximum drawdown, HYT dropped -56.95% vs NRO's -92.91%.
NRO currently has the higher Sharpe Ratio (0.57 vs -0.38), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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