NBIIX vs. ANDIX

Last updated Aug 5, 2026

NBIIX (Neuberger Berman International Equity Fund) and ANDIX (AQR International Defensive Style Fund) are both Foreign Large Cap Equities funds. Their correlation of 0.87 means they have usually moved in the same direction. NBIIX charges 0.87%/yr vs 0.55%/yr for ANDIX.

Performance

NBIIX vs. ANDIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Neuberger Berman International Equity Fund (NBIIX) and AQR International Defensive Style Fund (ANDIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

NBIIX

• 1D: 0.27%
• 1M: -2.11%
• 6M: -1.85%
• YTD: 4.49%
• 1Y: 2.41%
• 3Y*: 9.27%
• 5Y*: 2.18%
• 10Y*: 6.88%
• ALL TIME*: 5.56%

ANDIX

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

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
NBIIX Neuberger Berman International Equity Fund	$0.00	$0.00	$0.00

NBIIX vs. ANDIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NBIIX Neuberger Berman International Equity Fund	4.49%	13.56%	5.34%	14.28%	-22.00%	13.85%	13.89%	27.89%	-16.45%	27.16%
ANDIX AQR International Defensive Style Fund	5.63%	21.41%	2.83%	12.06%	-14.26%	7.59%	8.43%	18.39%	-10.35%	22.86%

Correlation

The correlation between NBIIX and ANDIX is 0.67, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.67
Correlation (3Y) Balances recent behavior with more history.	0.81
Correlation (5Y) Shows whether the relationship held over a longer period.	0.87
Correlation (10Y) Provides a long-term view across more market conditions.	0.88
Correlation (All Time) Calculated using the full available price history since Jul 9, 2012	0.87

Over the past year, the correlation between NBIIX and ANDIX has dropped to 0.67 - well below their long-term average of 0.87, suggesting their price drivers have been diverging.

Return for Risk

NBIIX vs. ANDIX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

NBIIX

NBIIX Risk / Return Rank: 6
NBIIX Sharpe Ratio Rank: 5
NBIIX Sortino Ratio Rank: 5
NBIIX Omega Ratio Rank: 6
NBIIX Calmar Ratio Rank: 6
NBIIX Martin Ratio Rank: 6

ANDIX

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

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

NBIIX vs. ANDIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Neuberger Berman International Equity Fund (NBIIX) and AQR International Defensive Style Fund (ANDIX). 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.

	NBIIX	ANDIX	Difference
Sharpe ratio: Return per unit of total volatility	0.19	—	—
Sortino ratio: Return per unit of downside risk	0.37	—	—
Omega ratio: Gain probability vs. loss probability	1.05	—	—
Calmar ratio: Return relative to maximum drawdown	0.26	—	—
Martin ratio: Return relative to average drawdown	0.76	—	—

Drawdowns

Drawdown Indicators

	NBIIX	ANDIX	Difference
Max Drawdown Largest peak-to-trough decline	-61.08%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-14.36%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-15.33%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-35.20%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-35.20%	—	—
Current Drawdown Current decline from peak	-3.75%	—	—
Average Drawdown Average peak-to-trough decline	-13.05%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	4.77%	—	—

Volatility

Volatility by Period

	NBIIX	ANDIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.34%	—	—
Volatility (6M) Calculated over the trailing 6-month period	14.39%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	19.12%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.75%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.05%	—	—

NBIIX vs. ANDIX - Expense Ratio Comparison

NBIIX has a 0.87% expense ratio, which is higher than ANDIX's 0.55% expense ratio.

Dividends

NBIIX vs. ANDIX - Dividend Comparison

NBIIX has not paid dividends to shareholders, while ANDIX's dividend yield for the trailing twelve months is around 70.16%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ANDIX AQR International Defensive Style Fund	70.16%	4.74%	2.29%	3.02%	2.00%	2.53%	1.73%	2.51%	2.40%	3.30%	1.47%	2.09%
NBIIX Neuberger Berman International Equity Fund	0.00%	0.00%	4.56%	2.54%	5.40%	11.99%	4.84%	2.72%	1.43%	0.95%	1.44%	1.28%

Frequently Asked Questions

Can I hold both NBIIX and ANDIX in my portfolio?

NBIIX and ANDIX have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.