NHINX vs. FAHEX

Last updated Jun 4, 2026

NHINX (Neuberger Berman High Income Bond Fund) and FAHEX (Fidelity Advisor High Income Advantage Fund Class C) are both High Yield Bonds funds. Over the past 10 years, NHINX returned 4.61%/yr vs 6.86%/yr for FAHEX. A 0.63 correlation means they provide meaningful diversification when combined. NHINX charges 0.85%/yr vs 1.75%/yr for FAHEX.

Performance

NHINX vs. FAHEX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Neuberger Berman High Income Bond Fund (NHINX) and Fidelity Advisor High Income Advantage Fund Class C (FAHEX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NHINX achieves a 1.30% return, which is significantly lower than FAHEX's 7.15% return. Over the past 10 years, NHINX has underperformed FAHEX with an annualized return of 4.61%, while FAHEX has yielded a comparatively higher 6.86% annualized return.

NHINX

• 1D: 0.00%
• 1M: 0.37%
• YTD: 1.30%
• 6M: 1.83%
• 1Y: 6.85%
• 3Y*: 8.23%
• 5Y*: 2.91%
• 10Y*: 4.61%

FAHEX

• 1D: 0.38%
• 1M: 2.10%
• YTD: 7.15%
• 6M: 8.05%
• 1Y: 15.73%
• 3Y*: 11.33%
• 5Y*: 5.63%
• 10Y*: 6.86%

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

NHINX vs. FAHEX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NHINX Neuberger Berman High Income Bond Fund	1.30%	8.39%	7.94%	9.92%	-13.02%	4.42%	6.27%	13.90%	-2.63%	5.09%
FAHEX Fidelity Advisor High Income Advantage Fund Class C	7.15%	10.97%	8.51%	11.23%	-11.89%	10.09%	7.88%	16.50%	-6.17%	10.57%

Correlation

The correlation between NHINX and FAHEX is 0.61, 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	0.61
Correlation (3Y) Calculated over the trailing 3-year period	0.70
Correlation (5Y) Calculated over the trailing 5-year period	0.78
Correlation (10Y) Calculated over the trailing 10-year period	0.77
Correlation (All Time) Calculated using the full available price history since Jan 3, 1994	0.63

The correlation between NHINX and FAHEX shifts across timeframes, from 0.61 (1 year) to 0.78 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

NHINX vs. FAHEX — Risk / Return Rank

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

NHINX

NHINX Risk / Return Rank: 60
NHINX Sharpe Ratio Rank: 49
NHINX Sortino Ratio Rank: 70
NHINX Omega Ratio Rank: 71
NHINX Calmar Ratio Rank: 46
NHINX Martin Ratio Rank: 64

FAHEX

FAHEX Risk / Return Rank: 91
FAHEX Sharpe Ratio Rank: 90
FAHEX Sortino Ratio Rank: 90
FAHEX Omega Ratio Rank: 86
FAHEX Calmar Ratio Rank: 93
FAHEX Martin Ratio Rank: 94

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.

NHINX vs. FAHEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Neuberger Berman High Income Bond Fund (NHINX) and Fidelity Advisor High Income Advantage Fund Class C (FAHEX). 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.

	NHINX	FAHEX	Difference
Sharpe ratio: Return per unit of total volatility	2.06	2.99	-0.93
Sortino ratio: Return per unit of downside risk	3.50	4.40	-0.90
Omega ratio: Gain probability vs. loss probability	1.47	1.59	-0.12
Calmar ratio: Return relative to maximum drawdown	2.59	5.32	-2.73
Martin ratio: Return relative to average drawdown	12.66	21.71	-9.05
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NHINX vs. FAHEX - Sharpe Ratio Comparison

The current NHINX Sharpe Ratio is 2.06, which is lower than the FAHEX Sharpe Ratio of 2.99. The chart below compares the historical Sharpe Ratios of NHINX and FAHEX, 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

	NHINX	FAHEX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.06	2.99	-0.93
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.56	0.89	-0.33
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.78	0.90	-0.12
Sharpe Ratio (All Time) Calculated using the full available price history	1.11	0.77	+0.34

Drawdowns

NHINX vs. FAHEX - Drawdown Comparison

The maximum NHINX drawdown since its inception was -29.47%, smaller than the maximum FAHEX drawdown of -49.00%. Use the drawdown chart below to compare losses from any high point for NHINX and FAHEX.

Drawdown Indicators

	NHINX	FAHEX	Difference
Max Drawdown Largest peak-to-trough decline	-29.47%	-49.00%	+19.53%
Max Drawdown (1Y) Largest decline over 1 year	-2.72%	-3.14%	+0.42%
Max Drawdown (3Y) Largest decline over 3 years	-3.89%	-7.11%	+3.22%
Max Drawdown (5Y) Largest decline over 5 years	-16.38%	-15.76%	-0.62%
Max Drawdown (10Y) Largest decline over 10 years	-22.85%	-28.52%	+5.67%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-3.75%	-5.02%	+1.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.55%	0.77%	-0.22%

Volatility

NHINX vs. FAHEX - Volatility Comparison

The current volatility for Neuberger Berman High Income Bond Fund (NHINX) is 1.14%, while Fidelity Advisor High Income Advantage Fund Class C (FAHEX) has a volatility of 1.72%. This indicates that NHINX experiences smaller price fluctuations and is considered to be less risky than FAHEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NHINX	FAHEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.14%	1.72%	-0.58%
Volatility (6M) Calculated over the trailing 6-month period	2.74%	4.38%	-1.64%
Volatility (1Y) Calculated over the trailing 1-year period	3.42%	5.57%	-2.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.23%	6.35%	-1.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.91%	7.62%	-1.71%

NHINX vs. FAHEX - Expense Ratio Comparison

NHINX has a 0.85% expense ratio, which is lower than FAHEX's 1.75% expense ratio.

Dividends

NHINX vs. FAHEX - Dividend Comparison

NHINX's dividend yield for the trailing twelve months is around 6.39%, more than FAHEX's 3.41% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FAHEX Fidelity Advisor High Income Advantage Fund Class C	3.41%	3.73%	3.34%	3.80%	6.26%	3.92%	2.76%	3.50%	4.90%	3.91%	4.50%	3.45%
NHINX Neuberger Berman High Income Bond Fund	6.39%	6.43%	6.80%	5.38%	4.37%	4.67%	4.73%	5.22%	5.63%	5.00%	5.33%	6.38%

Frequently Asked Questions

Can I hold both NHINX and FAHEX in my portfolio?

NHINX and FAHEX have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NHINX or FAHEX?

FAHEX has higher volatility (1.72%) compared to NHINX (1.14%). In terms of maximum drawdown, NHINX dropped -29.47% vs FAHEX's -49.00%.

Which has better risk-adjusted returns?

FAHEX currently has the higher Sharpe Ratio (2.99 vs 2.06), 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.