NBSSX vs. NMANX

Last updated Aug 5, 2026

NBSSX (Neuberger Berman Focus Fund) and NMANX (Neuberger Berman Mid Cap Growth Fund) are both mutual funds - NBSSX is a Global Equities fund managed by Neuberger Berman, while NMANX is a Mid Cap Growth Equities fund managed by Neuberger Berman. Over the past 10 years, NBSSX returned 10.91%/yr vs 11.47%/yr for NMANX. Their correlation of 0.86 means they have usually moved in the same direction. NBSSX charges 0.89%/yr vs 0.83%/yr for NMANX.

Performance

NBSSX vs. NMANX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Neuberger Berman Focus Fund (NBSSX) and Neuberger Berman Mid Cap Growth Fund (NMANX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NBSSX achieves a 6.85% return, which is significantly higher than NMANX's 4.43% return. Over the past 10 years, NBSSX has underperformed NMANX with an annualized return of 10.91%, while NMANX has yielded a comparatively higher 11.47% annualized return.

NBSSX

• 1D: 0.84%
• 1M: -0.55%
• 6M: 7.62%
• YTD: 6.85%
• 1Y: 12.34%
• 3Y*: 19.10%
• 5Y*: 6.21%
• 10Y*: 10.91%
• ALL TIME*: 8.03%

NMANX

• 1D: 1.86%
• 1M: -2.30%
• 6M: 2.27%
• YTD: 4.43%
• 1Y: -2.37%
• 3Y*: 13.09%
• 5Y*: 2.78%
• 10Y*: 11.47%
• ALL TIME*: 10.35%

*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)
NBSSX Neuberger Berman Focus Fund	$0.00	$0.00	$0.00
NMANX Neuberger Berman Mid Cap Growth Fund	$0.00	$0.00	$0.00

NBSSX vs. NMANX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NBSSX Neuberger Berman Focus Fund	6.85%	21.36%	21.64%	23.73%	-31.74%	19.85%	24.45%	28.50%	-9.02%	19.39%
NMANX Neuberger Berman Mid Cap Growth Fund	4.43%	5.51%	24.39%	18.21%	-28.82%	12.42%	39.45%	33.62%	-6.28%	29.01%

Correlation

The correlation between NBSSX and NMANX is 0.81, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.81
Correlation (3Y) Balances recent behavior with more history.	0.85
Correlation (5Y) Shows whether the relationship held over a longer period.	0.88
Correlation (10Y) Provides a long-term view across more market conditions.	0.87
Correlation (All Time) Calculated using the full available price history since Jan 2, 1980	0.86

The correlation between NBSSX and NMANX has been stable across timeframes, ranging from 0.81 to 0.88 - a consistent structural relationship.

Return for Risk

NBSSX vs. NMANX — Risk / Return Rank

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

NBSSX

NBSSX Risk / Return Rank: 23
NBSSX Sharpe Ratio Rank: 23
NBSSX Sortino Ratio Rank: 23
NBSSX Omega Ratio Rank: 23
NBSSX Calmar Ratio Rank: 22
NBSSX Martin Ratio Rank: 26

NMANX

NMANX Risk / Return Rank: 4
NMANX Sharpe Ratio Rank: 4
NMANX Sortino Ratio Rank: 4
NMANX Omega Ratio Rank: 4
NMANX Calmar Ratio Rank: 4
NMANX Martin Ratio Rank: 4

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.

NBSSX vs. NMANX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Neuberger Berman Focus Fund (NBSSX) and Neuberger Berman Mid Cap Growth Fund (NMANX). 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.

	NBSSX	NMANX	Difference
Sharpe ratio: Return per unit of total volatility	0.91	-0.00	+0.92
Sortino ratio: Return per unit of downside risk	1.37	0.15	+1.22
Omega ratio: Gain probability vs. loss probability	1.17	1.02	+0.15
Calmar ratio: Return relative to maximum drawdown	1.13	-0.00	+1.13
Martin ratio: Return relative to average drawdown	4.12	-0.01	+4.13

NBSSX vs. NMANX - Sharpe Ratio Comparison

The current NBSSX Sharpe Ratio is 0.91, which is higher than the NMANX Sharpe Ratio of -0.00. The chart below compares the historical Sharpe Ratios of NBSSX and NMANX, 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

NBSSX vs. NMANX - Drawdown Comparison

The maximum NBSSX drawdown since its inception was -61.56%, smaller than the maximum NMANX drawdown of -72.14%. Use the drawdown chart below to compare losses from any high point for NBSSX and NMANX.

Drawdown Indicators

	NBSSX	NMANX	Difference
Max Drawdown Largest peak-to-trough decline	-61.56%	-72.14%	+10.58%
Max Drawdown (1Y) Largest decline over 1 year	-12.61%	-17.71%	+5.10%
Max Drawdown (3Y) Largest decline over 3 years	-20.39%	-25.93%	+5.54%
Max Drawdown (5Y) Largest decline over 5 years	-40.77%	-38.10%	-2.67%
Max Drawdown (10Y) Largest decline over 10 years	-40.77%	-38.10%	-2.67%
Current Drawdown Current decline from peak	-2.98%	-6.70%	+3.72%
Average Drawdown Average peak-to-trough decline	-12.99%	-17.36%	+4.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.44%	6.44%	-3.00%

Volatility

NBSSX vs. NMANX - Volatility Comparison

Neuberger Berman Focus Fund (NBSSX) has a higher volatility of 5.84% compared to Neuberger Berman Mid Cap Growth Fund (NMANX) at 5.35%. This indicates that NBSSX's price experiences larger fluctuations and is considered to be riskier than NMANX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NBSSX	NMANX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.84%	5.35%	+0.49%
Volatility (6M) Calculated over the trailing 6-month period	13.36%	17.44%	-4.08%
Volatility (1Y) Calculated over the trailing 1-year period	15.55%	22.15%	-6.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.17%	23.51%	-4.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.25%	22.59%	-3.34%

NBSSX vs. NMANX - Expense Ratio Comparison

NBSSX has a 0.89% expense ratio, which is higher than NMANX's 0.83% expense ratio.

Dividends

NBSSX vs. NMANX - Dividend Comparison

NBSSX's dividend yield for the trailing twelve months is around 9.16%, less than NMANX's 22.11% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NBSSX Neuberger Berman Focus Fund	9.16%	9.78%	0.19%	0.59%	0.05%	19.35%	5.37%	12.78%	9.08%	8.32%	9.59%	5.18%
NMANX Neuberger Berman Mid Cap Growth Fund	22.11%	23.10%	9.85%	3.19%	4.87%	16.30%	9.58%	5.43%	11.70%	8.94%	5.00%	9.00%

Frequently Asked Questions

Can I hold both NBSSX and NMANX in my portfolio?

NBSSX and NMANX have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NBSSX or NMANX?

NBSSX has higher volatility (5.84%) compared to NMANX (5.35%). In terms of maximum drawdown, NBSSX dropped -61.56% vs NMANX's -72.14%.

Which has better risk-adjusted returns?

NBSSX currently has the higher Sharpe Ratio (0.91 vs -0.00), 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.