NCRLX vs. VBMPX

Last updated Aug 5, 2026

NCRLX (Neuberger Berman Core Bond Fund) and VBMPX (Vanguard Total Bond Market Index Fund Institutional Plus Shares) are both mutual funds - NCRLX is a Intermediate Core Bond fund managed by Neuberger Berman, while VBMPX is a Total Bond Market fund tracking the Bloomberg U.S. Aggregate Float Adjusted Index. Over the past 10 years, NCRLX returned 1.57%/yr vs 1.34%/yr for VBMPX. Their correlation of 0.93 means they have usually moved in the same direction. NCRLX charges 0.39%/yr vs 0.02%/yr for VBMPX.

Performance

NCRLX vs. VBMPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Neuberger Berman Core Bond Fund (NCRLX) and Vanguard Total Bond Market Index Fund Institutional Plus Shares (VBMPX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NCRLX achieves a -0.95% return, which is significantly lower than VBMPX's -0.69% return. Over the past 10 years, NCRLX has outperformed VBMPX with an annualized return of 1.57%, while VBMPX has yielded a comparatively lower 1.34% annualized return.

NCRLX

• 1D: 0.23%
• 1M: -1.59%
• 6M: -1.33%
• YTD: -0.95%
• 1Y: 1.40%
• 3Y*: 4.01%
• 5Y*: -0.66%
• 10Y*: 1.57%
• ALL TIME*: 2.15%

VBMPX

• 1D: 0.21%
• 1M: -1.25%
• 6M: -0.82%
• YTD: -0.69%
• 1Y: 1.58%
• 3Y*: 3.96%
• 5Y*: -0.49%
• 10Y*: 1.34%
• ALL TIME*: 2.23%

*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)
NCRLX Neuberger Berman Core Bond Fund	$0.00	$0.00	$0.00
VBMPX Vanguard Total Bond Market Index Fund Institutional Plus Shares	$0.00	$0.00	$0.00

NCRLX vs. VBMPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NCRLX Neuberger Berman Core Bond Fund	-0.95%	7.24%	1.90%	5.69%	-14.36%	-1.07%	9.50%	9.43%	-1.06%	3.95%
VBMPX Vanguard Total Bond Market Index Fund Institutional Plus Shares	-0.69%	7.18%	1.27%	5.75%	-13.14%	-1.95%	7.75%	8.74%	-0.24%	3.58%

Correlation

The correlation between NCRLX and VBMPX is 0.94, 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.	0.94
Correlation (3Y) Balances recent behavior with more history.	0.96
Correlation (5Y) Shows whether the relationship held over a longer period.	0.97
Correlation (10Y) Provides a long-term view across more market conditions.	0.95
Correlation (All Time) Calculated using the full available price history since Feb 5, 2010	0.93

The correlation between NCRLX and VBMPX has been stable across timeframes, ranging from 0.93 to 0.97 - a consistent structural relationship.

Return for Risk

NCRLX vs. VBMPX — Risk / Return Rank

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

NCRLX

NCRLX Risk / Return Rank: 8
NCRLX Sharpe Ratio Rank: 8
NCRLX Sortino Ratio Rank: 8
NCRLX Omega Ratio Rank: 7
NCRLX Calmar Ratio Rank: 9
NCRLX Martin Ratio Rank: 8

VBMPX

VBMPX Risk / Return Rank: 10
VBMPX Sharpe Ratio Rank: 10
VBMPX Sortino Ratio Rank: 9
VBMPX Omega Ratio Rank: 9
VBMPX Calmar Ratio Rank: 11
VBMPX Martin Ratio Rank: 10

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.

NCRLX vs. VBMPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Neuberger Berman Core Bond Fund (NCRLX) and Vanguard Total Bond Market Index Fund Institutional Plus Shares (VBMPX). 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.

	NCRLX	VBMPX	Difference
Sharpe ratio: Return per unit of total volatility	0.39	0.45	-0.06
Sortino ratio: Return per unit of downside risk	0.58	0.66	-0.08
Omega ratio: Gain probability vs. loss probability	1.07	1.08	-0.01
Calmar ratio: Return relative to maximum drawdown	0.51	0.59	-0.08
Martin ratio: Return relative to average drawdown	1.22	1.44	-0.22

NCRLX vs. VBMPX - Sharpe Ratio Comparison

The current NCRLX Sharpe Ratio is 0.39, which is comparable to the VBMPX Sharpe Ratio of 0.45. The chart below compares the historical Sharpe Ratios of NCRLX and VBMPX, 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

NCRLX vs. VBMPX - Drawdown Comparison

The maximum NCRLX drawdown since its inception was -19.21%, roughly equal to the maximum VBMPX drawdown of -18.90%. Use the drawdown chart below to compare losses from any high point for NCRLX and VBMPX.

Drawdown Indicators

	NCRLX	VBMPX	Difference
Max Drawdown Largest peak-to-trough decline	-19.21%	-18.90%	-0.31%
Max Drawdown (1Y) Largest decline over 1 year	-3.00%	-2.89%	-0.11%
Max Drawdown (3Y) Largest decline over 3 years	-5.33%	-4.86%	-0.47%
Max Drawdown (5Y) Largest decline over 5 years	-19.15%	-17.97%	-1.18%
Max Drawdown (10Y) Largest decline over 10 years	-19.21%	-18.90%	-0.31%
Current Drawdown Current decline from peak	-3.25%	-3.33%	+0.08%
Average Drawdown Average peak-to-trough decline	-3.80%	-3.52%	-0.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.24%	1.17%	+0.07%

Volatility

NCRLX vs. VBMPX - Volatility Comparison

Neuberger Berman Core Bond Fund (NCRLX) has a higher volatility of 1.12% compared to Vanguard Total Bond Market Index Fund Institutional Plus Shares (VBMPX) at 1.00%. This indicates that NCRLX's price experiences larger fluctuations and is considered to be riskier than VBMPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NCRLX	VBMPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.12%	1.00%	+0.12%
Volatility (6M) Calculated over the trailing 6-month period	3.12%	2.97%	+0.15%
Volatility (1Y) Calculated over the trailing 1-year period	3.90%	3.73%	+0.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.04%	6.02%	+0.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.01%	4.98%	+0.03%

NCRLX vs. VBMPX - Expense Ratio Comparison

NCRLX has a 0.39% expense ratio, which is higher than VBMPX's 0.02% expense ratio.

Dividends

NCRLX vs. VBMPX - Dividend Comparison

NCRLX's dividend yield for the trailing twelve months is around 4.36%, more than VBMPX's 3.73% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NCRLX Neuberger Berman Core Bond Fund	4.36%	4.68%	4.76%	3.90%	2.63%	2.47%	4.76%	3.37%	3.00%	2.80%	3.37%	3.15%
VBMPX Vanguard Total Bond Market Index Fund Institutional Plus Shares	3.73%	3.88%	3.69%	3.11%	2.61%	1.81%	2.41%	2.75%	2.58%	2.58%	2.55%	2.85%

Frequently Asked Questions

Can I hold both NCRLX and VBMPX in my portfolio?

With a correlation of 0.94, NCRLX and VBMPX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, NCRLX or VBMPX?

NCRLX has higher volatility (1.12%) compared to VBMPX (1.00%). In terms of maximum drawdown, NCRLX dropped -19.21% vs VBMPX's -18.90%.

Which has better risk-adjusted returns?

VBMPX currently has the higher Sharpe Ratio (0.45 vs 0.39), 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.