NBMIX vs. NML
NBMIX (Neuberger Berman Small Cap Growth Fund) and NML (Neuberger Berman MLP) are both mutual funds - NBMIX is a Small Cap Growth Equities fund managed by Neuberger Berman, while NML is a MLPs fund actively managed by Neuberger Berman. Over the past 10 years, NBMIX returned 13.65%/yr vs 10.17%/yr for NML. Their 0.38 correlation means their historical movements had little consistent relationship. NBMIX charges 1.28%/yr vs 2.72%/yr for NML.
Performance
NBMIX vs. NML - Performance Comparison
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Returns By Period
In the year-to-date period, NBMIX achieves a 9.72% return, which is significantly lower than NML's 28.72% return. Over the past 10 years, NBMIX has outperformed NML with an annualized return of 13.65%, while NML has yielded a comparatively lower 10.17% annualized return.
NBMIX
- 1D
- -0.95%
- 1M
- -5.61%
- 6M
- 4.05%
- YTD
- 9.72%
- 1Y
- 23.37%
- 3Y*
- 15.03%
- 5Y*
- 5.60%
- 10Y*
- 13.65%
- ALL TIME*
- 9.90%
NML
- 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%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $1.37M | $1.18M | $1.32M |
NBMIX vs. NML - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NBMIX Neuberger Berman Small Cap Growth Fund | 9.72% | 9.87% | 25.90% | 10.01% | -24.43% | 4.16% | 42.83% | 34.55% | 4.80% | 28.16% |
NML Neuberger Berman MLP | 28.72% | 4.36% | 40.55% | 14.61% | 32.75% | 61.76% | -45.84% | 10.60% | -23.02% | 7.07% |
Correlation
The correlation between NBMIX and NML is 0.06, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.06 |
Correlation (3Y) Balances recent behavior with more history. | 0.27 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.40 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.41 |
Correlation (All Time) Calculated using the full available price history since Mar 26, 2013 | 0.38 |
Over the past year, the correlation between NBMIX and NML has dropped to 0.06 - well below their long-term average of 0.38, suggesting their price drivers have been diverging.
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Return for Risk
NBMIX vs. NML — Risk / Return Rank
NBMIX
NML
NBMIX vs. NML - 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 MLP (NML). 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.
| NBMIX | NML | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.85 | ||
| Sortino ratioReturn per unit of downside risk | -0.95 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.29 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | 1.33 | 3.20 | -1.86 |
| Martin ratioReturn relative to average drawdown | 4.24 | 8.71 | -4.47 |
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Drawdowns
NBMIX vs. NML - Drawdown Comparison
The maximum NBMIX drawdown since its inception was -78.77%, smaller than the maximum NML drawdown of -90.48%. Use the drawdown chart below to compare losses from any high point for NBMIX and NML.
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Drawdown Indicators
| NBMIX | NML | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -78.77% | -90.48% | +11.71% |
Max Drawdown (1Y)Largest decline over 1 year | -16.65% | -9.57% | -7.08% |
Max Drawdown (3Y)Largest decline over 3 years | -29.53% | -16.92% | -12.61% |
Max Drawdown (5Y)Largest decline over 5 years | -36.96% | -21.40% | -15.56% |
Max Drawdown (10Y)Largest decline over 10 years | -39.55% | -84.84% | +45.29% |
Current DrawdownCurrent decline from peak | -11.35% | -2.52% | -8.83% |
Average DrawdownAverage peak-to-trough decline | -34.34% | -36.67% | +2.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.22% | 3.50% | +1.72% |
Volatility
NBMIX vs. NML - Volatility Comparison
Neuberger Berman Small Cap Growth Fund (NBMIX) and Neuberger Berman MLP (NML) have volatilities of 6.92% and 6.97%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NBMIX | NML | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.92% | 6.97% | -0.05% |
Volatility (6M)Calculated over the trailing 6-month period | 21.56% | 14.84% | +6.72% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.97% | 18.34% | +8.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.26% | 23.74% | +1.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.61% | 34.98% | -10.37% |
NBMIX vs. NML - Expense Ratio Comparison
NBMIX has a 1.28% expense ratio, which is lower than NML's 2.72% expense ratio.
Dividends
NBMIX vs. NML - Dividend Comparison
NBMIX's dividend yield for the trailing twelve months is around 6.14%, less than NML's 7.15% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NBMIX Neuberger Berman Small Cap Growth Fund | 6.14% | 6.74% | 0.46% | 0.00% | 0.00% | 18.71% | 1.06% | 3.98% | 23.77% | 1.44% | 0.00% | 5.92% |
NML Neuberger Berman MLP | 7.15% | 8.24% | 7.94% | 10.19% | 4.26% | 3.54% | 8.33% | 9.76% | 9.87% | 7.04% | 8.63% | 15.44% |
Frequently Asked Questions
NBMIX and NML have a correlation of 0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NML has higher volatility (6.97%) compared to NBMIX (6.92%). In terms of maximum drawdown, NBMIX dropped -78.77% vs NML's -90.48%.
NML currently has the higher Sharpe Ratio (1.67 vs 0.82), 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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