NBMIX vs. NLSIX

Last updated Apr 1, 2026

Compare and contrast key facts about Neuberger Berman Small Cap Growth Fund (NBMIX) and Neuberger Berman Long Short Fund (NLSIX).

NBMIX is managed by Neuberger Berman. It was launched on Oct 20, 1998. NLSIX is managed by Neuberger Berman. It was launched on Dec 28, 2011.

Performance

NBMIX vs. NLSIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Neuberger Berman Small Cap Growth Fund (NBMIX) and Neuberger Berman Long Short Fund (NLSIX). The values are adjusted to include any dividend payments, if applicable.

NBMIX vs. NLSIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NBMIX Neuberger Berman Small Cap Growth Fund	-7.63%	9.87%	25.90%	10.01%	-24.43%	4.16%	42.83%	34.55%	4.80%	28.16%
NLSIX Neuberger Berman Long Short Fund	-3.63%	7.20%	7.47%	13.10%	-6.85%	9.01%	15.27%	17.11%	-6.92%	13.39%

Returns By Period

In the year-to-date period, NBMIX achieves a -7.63% return, which is significantly lower than NLSIX's -3.63% return. Over the past 10 years, NBMIX has outperformed NLSIX with an annualized return of 12.76%, while NLSIX has yielded a comparatively lower 6.37% annualized return.

NBMIX

• 1D: -3.31%
• 1M: -11.06%
• YTD: -7.63%
• 6M: -6.92%
• 1Y: 16.10%
• 3Y*: 10.64%
• 5Y*: 1.62%
• 10Y*: 12.76%

NLSIX

• 1D: 0.00%
• 1M: -2.86%
• YTD: -3.63%
• 6M: -3.20%
• 1Y: 3.47%
• 3Y*: 6.40%
• 5Y*: 4.72%
• 10Y*: 6.37%

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

NBMIX vs. NLSIX - Expense Ratio Comparison

Both NBMIX and NLSIX have an expense ratio of 1.28%.

NBMIX

Neuberger Berman Small Cap Growth Fund

NLSIX

Neuberger Berman Long Short Fund

Return for Risk

NBMIX vs. NLSIX — Risk / Return Rank

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

NBMIX

NBMIX Risk / Return Rank: 28
NBMIX Sharpe Ratio Rank: 27
NBMIX Sortino Ratio Rank: 29
NBMIX Omega Ratio Rank: 24
NBMIX Calmar Ratio Rank: 30
NBMIX Martin Ratio Rank: 30

NLSIX

NLSIX Risk / Return Rank: 22
NLSIX Sharpe Ratio Rank: 23
NLSIX Sortino Ratio Rank: 22
NLSIX Omega Ratio Rank: 21
NLSIX Calmar Ratio Rank: 21
NLSIX Martin Ratio Rank: 22

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.

NBMIX vs. NLSIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Neuberger Berman Small Cap Growth Fund (NBMIX) and Neuberger Berman Long Short Fund (NLSIX). 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.

	NBMIX	NLSIX	Difference
Sharpe ratio Return per unit of total volatility	0.66	0.57	+0.09
Sortino ratio Return per unit of downside risk	1.06	0.87	+0.19
Omega ratio Gain probability vs. loss probability	1.14	1.12	+0.01
Calmar ratio Return relative to maximum drawdown	0.85	0.63	+0.22
Martin ratio Return relative to average drawdown	3.21	2.31	+0.90
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NBMIX vs. NLSIX - Sharpe Ratio Comparison

The current NBMIX Sharpe Ratio is 0.66, which is comparable to the NLSIX Sharpe Ratio of 0.57. The chart below compares the historical Sharpe Ratios of NBMIX and NLSIX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	NBMIX	NLSIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.66	0.57	+0.09
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.07	0.72	-0.65
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.53	0.88	-0.35
Sharpe Ratio (All Time) Calculated using the full available price history	0.37	0.91	-0.54

Correlation

The correlation between NBMIX and NLSIX is 0.70, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

NBMIX vs. NLSIX - Dividend Comparison

NBMIX's dividend yield for the trailing twelve months is around 7.29%, more than NLSIX's 0.05% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NBMIX Neuberger Berman Small Cap Growth Fund	7.29%	6.74%	0.46%	0.00%	0.00%	18.71%	1.06%	3.98%	23.77%	1.44%	0.00%	5.92%
NLSIX Neuberger Berman Long Short Fund	0.05%	0.05%	0.02%	0.97%	7.01%	1.13%	2.15%	2.39%	5.91%	0.00%	0.00%	0.01%

Drawdowns

NBMIX vs. NLSIX - Drawdown Comparison

The maximum NBMIX drawdown since its inception was -78.77%, which is greater than NLSIX's maximum drawdown of -14.75%. Use the drawdown chart below to compare losses from any high point for NBMIX and NLSIX.

Drawdown Indicators

	NBMIX	NLSIX	Difference
Max Drawdown Largest peak-to-trough decline	-78.77%	-14.75%	-64.02%
Max Drawdown (1Y) Largest decline over 1 year	-16.65%	-4.39%	-12.26%
Max Drawdown (5Y) Largest decline over 5 years	-36.96%	-10.79%	-26.17%
Max Drawdown (10Y) Largest decline over 10 years	-39.55%	-14.75%	-24.80%
Current Drawdown Current decline from peak	-16.65%	-4.39%	-12.26%
Average Drawdown Average peak-to-trough decline	-34.72%	-2.03%	-32.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.41%	1.19%	+3.22%

Volatility

NBMIX vs. NLSIX - Volatility Comparison

Neuberger Berman Small Cap Growth Fund (NBMIX) has a higher volatility of 9.24% compared to Neuberger Berman Long Short Fund (NLSIX) at 1.89%. This indicates that NBMIX's price experiences larger fluctuations and is considered to be riskier than NLSIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NBMIX	NLSIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.24%	1.89%	+7.35%
Volatility (6M) Calculated over the trailing 6-month period	18.88%	3.40%	+15.48%
Volatility (1Y) Calculated over the trailing 1-year period	25.49%	6.34%	+19.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.60%	6.63%	+17.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.20%	7.29%	+16.91%