NHS vs. CCD
NHS (Neuberger Berman High Yield Strategies Fund) is High Yield Bonds fund actively managed by Neuberger Berman, while CCD (Calamos Dynamic Convertible and Income Fund) is a stock. Over the past 10 years, NHS returned 4.75%/yr vs 13.45%/yr for CCD. Their 0.39 correlation means their historical movements had little consistent relationship.
Performance
NHS vs. CCD - Performance Comparison
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Returns By Period
In the year-to-date period, NHS achieves a -10.67% return, which is significantly lower than CCD's 27.85% return. Over the past 10 years, NHS has underperformed CCD with an annualized return of 4.75%, while CCD has yielded a comparatively higher 13.45% annualized return.
NHS
- 1D
- 0.33%
- 1M
- -1.63%
- 6M
- -13.27%
- YTD
- -10.67%
- 1Y
- -4.14%
- 3Y*
- 6.57%
- 5Y*
- -1.40%
- 10Y*
- 4.75%
- ALL TIME*
- 6.80%
CCD
- 1D
- 2.63%
- 1M
- 0.53%
- 6M
- 18.22%
- YTD
- 27.85%
- 1Y
- 37.99%
- 3Y*
- 18.92%
- 5Y*
- 6.15%
- 10Y*
- 13.45%
- ALL TIME*
- 10.41%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.56M | $1.82M | $2.03M | |
| $1.10M | $993.10K | $1.33M |
NHS vs. CCD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NHS Neuberger Berman High Yield Strategies Fund | -10.67% | 14.81% | 11.04% | 6.12% | -22.99% | 15.78% | 4.57% | 39.03% | -11.45% | 8.64% |
CCD Calamos Dynamic Convertible and Income Fund | 27.85% | -4.26% | 35.89% | 7.98% | -28.00% | 20.33% | 45.75% | 41.60% | -9.64% | 26.56% |
Correlation
The correlation between NHS and CCD is 0.41, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.41 |
Correlation (3Y) Balances recent behavior with more history. | 0.34 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.40 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.39 |
Correlation (All Time) Calculated using the full available price history since Mar 27, 2015 | 0.39 |
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Return for Risk
NHS vs. CCD — Risk / Return Rank
NHS
CCD
NHS vs. CCD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Neuberger Berman High Yield Strategies Fund (NHS) and Calamos Dynamic Convertible and Income Fund (CCD). 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.
| NHS | CCD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.26 | ||
| Sortino ratioReturn per unit of downside risk | -2.99 | ||
| Omega ratioGain probability vs. loss probability | 0.95 | 1.34 | -0.38 |
| Calmar ratioReturn relative to maximum drawdown | -0.24 | 3.45 | -3.69 |
| Martin ratioReturn relative to average drawdown | -0.46 | 14.27 | -14.73 |
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Drawdowns
NHS vs. CCD - Drawdown Comparison
The maximum NHS drawdown since its inception was -64.67%, which is greater than CCD's maximum drawdown of -55.42%. Use the drawdown chart below to compare losses from any high point for NHS and CCD.
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Drawdown Indicators
| NHS | CCD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -64.67% | -55.42% | -9.25% |
Max Drawdown (1Y)Largest decline over 1 year | -17.01% | -11.08% | -5.93% |
Max Drawdown (3Y)Largest decline over 3 years | -17.01% | -22.28% | +5.27% |
Max Drawdown (5Y)Largest decline over 5 years | -37.43% | -37.54% | +0.11% |
Max Drawdown (10Y)Largest decline over 10 years | -42.97% | -55.42% | +12.45% |
Current DrawdownCurrent decline from peak | -16.06% | -1.30% | -14.76% |
Average DrawdownAverage peak-to-trough decline | -8.90% | -11.69% | +2.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.11% | 2.67% | +6.44% |
Volatility
NHS vs. CCD - Volatility Comparison
The current volatility for Neuberger Berman High Yield Strategies Fund (NHS) is 2.57%, while Calamos Dynamic Convertible and Income Fund (CCD) has a volatility of 7.06%. This indicates that NHS experiences smaller price fluctuations and is considered to be less risky than CCD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NHS | CCD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.57% | 7.06% | -4.49% |
Volatility (6M)Calculated over the trailing 6-month period | 9.65% | 16.49% | -6.84% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.93% | 19.71% | -6.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.10% | 20.55% | -4.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.69% | 25.89% | -9.20% |
Dividends
NHS vs. CCD - Dividend Comparison
NHS's dividend yield for the trailing twelve months is around 17.98%, more than CCD's 9.22% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CCD Calamos Dynamic Convertible and Income Fund | 9.22% | 11.22% | 9.63% | 11.83% | 11.42% | 7.43% | 7.11% | 8.93% | 12.21% | 9.99% | 11.43% | 7.40% |
NHS Neuberger Berman High Yield Strategies Fund | 17.98% | 14.60% | 14.50% | 13.94% | 12.75% | 8.74% | 9.29% | 7.99% | 8.37% | 7.59% | 8.23% | 9.81% |
Frequently Asked Questions
NHS and CCD have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CCD has higher volatility (7.06%) compared to NHS (2.57%). In terms of maximum drawdown, NHS dropped -64.67% vs CCD's -55.42%.
CCD currently has the higher Sharpe Ratio (1.94 vs -0.32), 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.
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