NBRVX vs. NGUAX

Last updated Jun 4, 2026

NBRVX (Neuberger Berman Mid Cap Intrinsic Value Fund) and NGUAX (Neuberger Berman Guardian Fund) are both mutual funds - NBRVX is a Mid Cap Value Equities fund managed by Neuberger Berman, while NGUAX is a Large Cap Growth Equities fund managed by Neuberger Berman. Over the past 10 years, NBRVX returned 7.85%/yr vs 16.09%/yr for NGUAX. Their correlation of 0.82 suggests significant overlap in exposure. NBRVX charges 1.49%/yr vs 0.82%/yr for NGUAX.

Performance

NBRVX vs. NGUAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Neuberger Berman Mid Cap Intrinsic Value Fund (NBRVX) and Neuberger Berman Guardian Fund (NGUAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NBRVX achieves a 15.38% return, which is significantly higher than NGUAX's 7.00% return. Over the past 10 years, NBRVX has underperformed NGUAX with an annualized return of 7.85%, while NGUAX has yielded a comparatively higher 16.09% annualized return.

NBRVX

• 1D: 1.47%
• 1M: 7.79%
• YTD: 15.38%
• 6M: 16.61%
• 1Y: 33.32%
• 3Y*: 16.13%
• 5Y*: 7.68%
• 10Y*: 7.85%

NGUAX

• 1D: -0.44%
• 1M: 4.75%
• YTD: 7.00%
• 6M: 6.21%
• 1Y: 19.21%
• 3Y*: 20.05%
• 5Y*: 12.70%
• 10Y*: 16.09%

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

NBRVX vs. NGUAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NBRVX Neuberger Berman Mid Cap Intrinsic Value Fund	15.38%	11.01%	9.11%	11.05%	-9.75%	32.67%	-4.29%	17.22%	-14.98%	9.69%
NGUAX Neuberger Berman Guardian Fund	7.00%	14.38%	23.80%	35.98%	-24.47%	27.43%	34.56%	36.69%	-7.16%	25.28%

Correlation

The correlation between NBRVX and NGUAX is 0.60, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.60
Correlation (3Y) Calculated over the trailing 3-year period	0.63
Correlation (5Y) Calculated over the trailing 5-year period	0.70
Correlation (10Y) Calculated over the trailing 10-year period	0.70
Correlation (All Time) Calculated using the full available price history since Jun 1, 1999	0.82

Over the past year, the correlation between NBRVX and NGUAX has dropped to 0.60 - well below their long-term average of 0.82, suggesting their price drivers have been diverging.

Return for Risk

NBRVX vs. NGUAX — Risk / Return Rank

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

NBRVX

NBRVX Risk / Return Rank: 64
NBRVX Sharpe Ratio Rank: 60
NBRVX Sortino Ratio Rank: 57
NBRVX Omega Ratio Rank: 51
NBRVX Calmar Ratio Rank: 79
NBRVX Martin Ratio Rank: 72

NGUAX

NGUAX Risk / Return Rank: 22
NGUAX Sharpe Ratio Rank: 27
NGUAX Sortino Ratio Rank: 25
NGUAX Omega Ratio Rank: 26
NGUAX Calmar Ratio Rank: 16
NGUAX Martin Ratio Rank: 17

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.

NBRVX vs. NGUAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Neuberger Berman Mid Cap Intrinsic Value Fund (NBRVX) and Neuberger Berman Guardian Fund (NGUAX). 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.

	NBRVX	NGUAX	Difference
Sharpe ratio Return per unit of total volatility	2.29	1.48	+0.81
Sortino ratio Return per unit of downside risk	3.18	2.08	+1.10
Omega ratio Gain probability vs. loss probability	1.39	1.26	+0.13
Calmar ratio Return relative to maximum drawdown	3.60	1.40	+2.20
Martin ratio Return relative to average drawdown	13.79	4.82	+8.97
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NBRVX vs. NGUAX - Sharpe Ratio Comparison

The current NBRVX Sharpe Ratio is 2.29, which is higher than the NGUAX Sharpe Ratio of 1.48. The chart below compares the historical Sharpe Ratios of NBRVX and NGUAX, 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

	NBRVX	NGUAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.29	1.48	+0.81
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.40	0.70	-0.30
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.37	0.88	-0.52
Sharpe Ratio (All Time) Calculated using the full available price history	0.30	0.04	+0.25

Drawdowns

NBRVX vs. NGUAX - Drawdown Comparison

The maximum NBRVX drawdown since its inception was -65.68%, smaller than the maximum NGUAX drawdown of -78.07%. Use the drawdown chart below to compare losses from any high point for NBRVX and NGUAX.

Drawdown Indicators

	NBRVX	NGUAX	Difference
Max Drawdown Largest peak-to-trough decline	-65.68%	-78.07%	+12.39%
Max Drawdown (1Y) Largest decline over 1 year	-9.88%	-14.16%	+4.28%
Max Drawdown (3Y) Largest decline over 3 years	-24.62%	-20.89%	-3.73%
Max Drawdown (5Y) Largest decline over 5 years	-24.62%	-28.43%	+3.81%
Max Drawdown (10Y) Largest decline over 10 years	-52.24%	-31.99%	-20.25%
Current Drawdown Current decline from peak	0.00%	-0.44%	+0.44%
Average Drawdown Average peak-to-trough decline	-10.82%	-31.87%	+21.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.57%	4.10%	-1.53%

Volatility

NBRVX vs. NGUAX - Volatility Comparison

Neuberger Berman Mid Cap Intrinsic Value Fund (NBRVX) has a higher volatility of 4.35% compared to Neuberger Berman Guardian Fund (NGUAX) at 2.97%. This indicates that NBRVX's price experiences larger fluctuations and is considered to be riskier than NGUAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NBRVX	NGUAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.35%	2.97%	+1.38%
Volatility (6M) Calculated over the trailing 6-month period	11.15%	10.18%	+0.97%
Volatility (1Y) Calculated over the trailing 1-year period	15.53%	13.40%	+2.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.28%	18.25%	+1.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.48%	18.27%	+3.21%

NBRVX vs. NGUAX - Expense Ratio Comparison

NBRVX has a 1.49% expense ratio, which is higher than NGUAX's 0.82% expense ratio.

Dividends

NBRVX vs. NGUAX - Dividend Comparison

NBRVX's dividend yield for the trailing twelve months is around 9.73%, less than NGUAX's 11.61% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NBRVX Neuberger Berman Mid Cap Intrinsic Value Fund	9.73%	11.23%	6.19%	1.94%	0.90%	0.54%	0.04%	1.10%	9.15%	0.49%	0.52%	12.52%
NGUAX Neuberger Berman Guardian Fund	11.61%	12.43%	6.01%	4.30%	6.62%	10.92%	7.60%	6.21%	11.21%	6.87%	13.11%	12.82%

Frequently Asked Questions

Can I hold both NBRVX and NGUAX in my portfolio?

NBRVX and NGUAX have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NBRVX or NGUAX?

NBRVX has higher volatility (4.35%) compared to NGUAX (2.97%). In terms of maximum drawdown, NBRVX dropped -65.68% vs NGUAX's -78.07%.

Which has better risk-adjusted returns?

NBRVX currently has the higher Sharpe Ratio (2.29 vs 1.48), 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.