NBRVX vs. VMVAX

Last updated Aug 1, 2026

NBRVX (Neuberger Berman Mid Cap Intrinsic Value Fund) and VMVAX (Vanguard Mid-Cap Value Index Fund Admiral Shares) are both Mid Cap Value Equities funds. Over the past 10 years, NBRVX returned 7.66%/yr vs 10.77%/yr for VMVAX. Their correlation of 0.93 means they have usually moved in the same direction. NBRVX charges 1.49%/yr vs 0.07%/yr for VMVAX.

Performance

NBRVX vs. VMVAX - Performance Comparison

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

Returns By Period

In the year-to-date period, NBRVX achieves a 14.17% return, which is significantly lower than VMVAX's 16.91% return. Over the past 10 years, NBRVX has underperformed VMVAX with an annualized return of 7.66%, while VMVAX has yielded a comparatively higher 10.77% annualized return.

NBRVX

• 1D: 0.60%
• 1M: -0.99%
• 6M: 10.42%
• YTD: 14.17%
• 1Y: 28.55%
• 3Y*: 12.27%
• 5Y*: 8.34%
• 10Y*: 7.66%
• ALL TIME*: 6.44%

VMVAX

• 1D: -0.33%
• 1M: 2.54%
• 6M: 12.16%
• YTD: 16.91%
• 1Y: 26.28%
• 3Y*: 15.18%
• 5Y*: 10.18%
• 10Y*: 10.77%
• ALL TIME*: 12.53%

*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)
NBRVX Neuberger Berman Mid Cap Intrinsic Value Fund	$0.00	$0.00	$0.00
VMVAX Vanguard Mid-Cap Value Index Fund Admiral Shares	$0.00	$0.00	$0.00

NBRVX vs. VMVAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NBRVX Neuberger Berman Mid Cap Intrinsic Value Fund	14.17%	11.01%	9.11%	11.05%	-9.75%	32.67%	-4.29%	17.22%	-14.98%	9.69%
VMVAX Vanguard Mid-Cap Value Index Fund Admiral Shares	16.91%	12.06%	13.63%	10.12%	-7.89%	28.77%	2.45%	28.03%	-12.44%	17.04%

Correlation

The correlation between NBRVX and VMVAX is 0.78, 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.	0.78
Correlation (3Y) Balances recent behavior with more history.	0.87
Correlation (5Y) Shows whether the relationship held over a longer period.	0.91
Correlation (10Y) Provides a long-term view across more market conditions.	0.92
Correlation (All Time) Calculated using the full available price history since Sep 27, 2011	0.93

The correlation between NBRVX and VMVAX shifts across timeframes, from 0.78 (1 year) to 0.93 (all time), reflecting how their relationship changes across market environments.

Return for Risk

NBRVX vs. VMVAX — Risk / Return Rank

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

NBRVX

NBRVX Risk / Return Rank: 65
NBRVX Sharpe Ratio Rank: 61
NBRVX Sortino Ratio Rank: 60
NBRVX Omega Ratio Rank: 54
NBRVX Calmar Ratio Rank: 75
NBRVX Martin Ratio Rank: 76

VMVAX

VMVAX Risk / Return Rank: 89
VMVAX Sharpe Ratio Rank: 89
VMVAX Sortino Ratio Rank: 87
VMVAX Omega Ratio Rank: 83
VMVAX Calmar Ratio Rank: 92
VMVAX Martin Ratio Rank: 93

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.

NBRVX vs. VMVAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Neuberger Berman Mid Cap Intrinsic Value Fund (NBRVX) and Vanguard Mid-Cap Value Index Fund Admiral Shares (VMVAX). 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.

	NBRVX	VMVAX	Difference
Sharpe ratio: Return per unit of total volatility	1.57	2.19	-0.63
Sortino ratio: Return per unit of downside risk	2.23	3.18	-0.95
Omega ratio: Gain probability vs. loss probability	1.27	1.39	-0.12
Calmar ratio: Return relative to maximum drawdown	2.52	3.58	-1.06
Martin ratio: Return relative to average drawdown	9.62	13.96	-4.33

NBRVX vs. VMVAX - Sharpe Ratio Comparison

The current NBRVX Sharpe Ratio is 1.57, which is comparable to the VMVAX Sharpe Ratio of 2.19. The chart below compares the historical Sharpe Ratios of NBRVX and VMVAX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

NBRVX vs. VMVAX - Drawdown Comparison

The maximum NBRVX drawdown since its inception was -65.68%, which is greater than VMVAX's maximum drawdown of -43.07%. Use the drawdown chart below to compare losses from any high point for NBRVX and VMVAX.

Drawdown Indicators

	NBRVX	VMVAX	Difference
Max Drawdown Largest peak-to-trough decline	-65.68%	-43.07%	-22.61%
Max Drawdown (1Y) Largest decline over 1 year	-9.88%	-6.95%	-2.93%
Max Drawdown (3Y) Largest decline over 3 years	-24.62%	-18.40%	-6.22%
Max Drawdown (5Y) Largest decline over 5 years	-24.62%	-19.75%	-4.87%
Max Drawdown (10Y) Largest decline over 10 years	-52.24%	-43.07%	-9.17%
Current Drawdown Current decline from peak	-1.67%	-1.07%	-0.60%
Average Drawdown Average peak-to-trough decline	-10.76%	-4.33%	-6.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.63%	1.78%	+0.85%

Volatility

NBRVX vs. VMVAX - Volatility Comparison

Neuberger Berman Mid Cap Intrinsic Value Fund (NBRVX) has a higher volatility of 3.53% compared to Vanguard Mid-Cap Value Index Fund Admiral Shares (VMVAX) at 2.69%. This indicates that NBRVX's price experiences larger fluctuations and is considered to be riskier than VMVAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NBRVX	VMVAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.53%	2.69%	+0.84%
Volatility (6M) Calculated over the trailing 6-month period	11.61%	8.12%	+3.49%
Volatility (1Y) Calculated over the trailing 1-year period	15.94%	11.39%	+4.55%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.21%	15.88%	+3.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.40%	18.69%	+2.71%

NBRVX vs. VMVAX - Expense Ratio Comparison

NBRVX has a 1.49% expense ratio, which is higher than VMVAX's 0.07% expense ratio.

Dividends

NBRVX vs. VMVAX - Dividend Comparison

NBRVX's dividend yield for the trailing twelve months is around 9.84%, more than VMVAX's 1.81% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NBRVX Neuberger Berman Mid Cap Intrinsic Value Fund	9.84%	11.23%	6.19%	1.94%	0.90%	0.54%	0.04%	1.10%	9.15%	0.49%	0.52%	12.52%
VMVAX Vanguard Mid-Cap Value Index Fund Admiral Shares	1.81%	2.10%	2.11%	2.26%	2.27%	1.78%	2.36%	2.08%	2.75%	1.86%	1.91%	2.04%

Frequently Asked Questions

Can I hold both NBRVX and VMVAX in my portfolio?

NBRVX and VMVAX have a correlation of 0.78, 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 VMVAX?

NBRVX has higher volatility (3.53%) compared to VMVAX (2.69%). In terms of maximum drawdown, NBRVX dropped -65.68% vs VMVAX's -43.07%.

Which has better risk-adjusted returns?

VMVAX currently has the higher Sharpe Ratio (2.19 vs 1.57), 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.