NBRFX vs. NBGIX

Last updated Jun 4, 2026

NBRFX (Neuberger Berman Real Estate Fund) and NBGIX (Neuberger Berman Genesis Fund Institutional Class) are both mutual funds - NBRFX is a REIT fund managed by Neuberger Berman, while NBGIX is a Small Cap Growth Equities fund managed by Neuberger Berman. Over the past 10 years, NBRFX returned 6.43%/yr vs 9.17%/yr for NBGIX. A 0.61 correlation means they provide meaningful diversification when combined. NBRFX charges 1.39%/yr vs 0.84%/yr for NBGIX.

Performance

NBRFX vs. NBGIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Neuberger Berman Real Estate Fund (NBRFX) and Neuberger Berman Genesis Fund Institutional Class (NBGIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NBRFX achieves a 11.20% return, which is significantly higher than NBGIX's 6.58% return. Over the past 10 years, NBRFX has underperformed NBGIX with an annualized return of 6.43%, while NBGIX has yielded a comparatively higher 9.17% annualized return.

NBRFX

• 1D: 0.20%
• 1M: -1.60%
• YTD: 11.20%
• 6M: 10.13%
• 1Y: 9.22%
• 3Y*: 8.47%
• 5Y*: 2.44%
• 10Y*: 6.43%

NBGIX

• 1D: 0.56%
• 1M: 0.47%
• YTD: 6.58%
• 6M: 4.25%
• 1Y: 7.57%
• 3Y*: 6.49%
• 5Y*: 2.81%
• 10Y*: 9.17%

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

NBRFX vs. NBGIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NBRFX Neuberger Berman Real Estate Fund	11.20%	-2.14%	5.02%	11.70%	-27.35%	47.87%	-1.34%	31.06%	-5.31%	11.59%
NBGIX Neuberger Berman Genesis Fund Institutional Class	6.58%	-4.55%	9.20%	15.73%	-19.35%	18.25%	25.07%	29.68%	-6.76%	16.02%

Correlation

The correlation between NBRFX and NBGIX is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.48
Correlation (3Y) Calculated over the trailing 3-year period	0.57
Correlation (5Y) Calculated over the trailing 5-year period	0.62
Correlation (10Y) Calculated over the trailing 10-year period	0.54
Correlation (All Time) Calculated using the full available price history since May 3, 2002	0.62

The correlation between NBRFX and NBGIX shifts across timeframes, from 0.48 (1 year) to 0.62 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

NBRFX vs. NBGIX — Risk / Return Rank

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

NBRFX

NBRFX Risk / Return Rank: 9
NBRFX Sharpe Ratio Rank: 8
NBRFX Sortino Ratio Rank: 8
NBRFX Omega Ratio Rank: 8
NBRFX Calmar Ratio Rank: 12
NBRFX Martin Ratio Rank: 10

NBGIX

NBGIX Risk / Return Rank: 7
NBGIX Sharpe Ratio Rank: 7
NBGIX Sortino Ratio Rank: 7
NBGIX Omega Ratio Rank: 7
NBGIX Calmar Ratio Rank: 8
NBGIX Martin Ratio Rank: 8

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.

NBRFX vs. NBGIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Neuberger Berman Real Estate Fund (NBRFX) and Neuberger Berman Genesis Fund Institutional Class (NBGIX). 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.

	NBRFX	NBGIX	Difference
Sharpe ratio: Return per unit of total volatility	0.66	0.57	+0.09
Sortino ratio: Return per unit of downside risk	0.97	0.97	0.00
Omega ratio: Gain probability vs. loss probability	1.12	1.11	+0.01
Calmar ratio: Return relative to maximum drawdown	1.10	0.86	+0.25
Martin ratio: Return relative to average drawdown	3.05	2.30	+0.74
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NBRFX vs. NBGIX - Sharpe Ratio Comparison

The current NBRFX Sharpe Ratio is 0.66, which is comparable to the NBGIX Sharpe Ratio of 0.57. The chart below compares the historical Sharpe Ratios of NBRFX and NBGIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	NBRFX	NBGIX	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	0.12	0.14	-0.02
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.32	0.46	-0.14
Sharpe Ratio (All Time) Calculated using the full available price history	0.32	0.54	-0.22

Drawdowns

NBRFX vs. NBGIX - Drawdown Comparison

The maximum NBRFX drawdown since its inception was -70.52%, which is greater than NBGIX's maximum drawdown of -51.62%. Use the drawdown chart below to compare losses from any high point for NBRFX and NBGIX.

Drawdown Indicators

	NBRFX	NBGIX	Difference
Max Drawdown Largest peak-to-trough decline	-70.52%	-51.62%	-18.90%
Max Drawdown (1Y) Largest decline over 1 year	-7.84%	-10.75%	+2.91%
Max Drawdown (3Y) Largest decline over 3 years	-18.06%	-27.48%	+9.42%
Max Drawdown (5Y) Largest decline over 5 years	-35.60%	-28.27%	-7.33%
Max Drawdown (10Y) Largest decline over 10 years	-37.56%	-34.53%	-3.03%
Current Drawdown Current decline from peak	-7.27%	-9.08%	+1.81%
Average Drawdown Average peak-to-trough decline	-11.82%	-7.47%	-4.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.83%	3.98%	-1.15%

Volatility

NBRFX vs. NBGIX - Volatility Comparison

The current volatility for Neuberger Berman Real Estate Fund (NBRFX) is 3.64%, while Neuberger Berman Genesis Fund Institutional Class (NBGIX) has a volatility of 4.06%. This indicates that NBRFX experiences smaller price fluctuations and is considered to be less risky than NBGIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NBRFX	NBGIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.64%	4.06%	-0.42%
Volatility (6M) Calculated over the trailing 6-month period	9.51%	11.31%	-1.80%
Volatility (1Y) Calculated over the trailing 1-year period	13.05%	16.04%	-2.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.78%	19.66%	+0.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.35%	20.23%	+0.12%

NBRFX vs. NBGIX - Expense Ratio Comparison

NBRFX has a 1.39% expense ratio, which is higher than NBGIX's 0.84% expense ratio.

Dividends

NBRFX vs. NBGIX - Dividend Comparison

NBRFX's dividend yield for the trailing twelve months is around 1.82%, less than NBGIX's 15.40% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NBGIX Neuberger Berman Genesis Fund Institutional Class	15.40%	16.41%	2.14%	3.13%	11.11%	10.91%	3.87%	6.00%	12.49%	14.10%	6.53%	11.28%
NBRFX Neuberger Berman Real Estate Fund	1.82%	2.07%	1.94%	2.11%	12.58%	7.76%	2.03%	4.73%	6.98%	6.43%	14.86%	9.29%

Frequently Asked Questions

Can I hold both NBRFX and NBGIX in my portfolio?

NBRFX and NBGIX have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NBRFX or NBGIX?

NBGIX has higher volatility (4.06%) compared to NBRFX (3.64%). In terms of maximum drawdown, NBRFX dropped -70.52% vs NBGIX's -51.62%.

Which has better risk-adjusted returns?

NBRFX currently has the higher Sharpe Ratio (0.66 vs 0.57), 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.