NHS vs. CRDOX
NHS (Neuberger Berman High Yield Strategies Fund) and CRDOX (Six Circles Credit Opportunities Fund) are both High Yield Bonds funds. Over the past 5 years, NHS returned -1.41%/yr vs 3.14%/yr for CRDOX. At a 0.35 correlation, their price movements are largely independent. NHS charges 4.14%/yr vs 0.29%/yr for CRDOX.
Performance
NHS vs. CRDOX - Performance Comparison
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Returns By Period
In the year-to-date period, NHS achieves a -9.34% return, which is significantly lower than CRDOX's 2.56% return.
NHS
- 1D
- -0.48%
- 1M
- -0.63%
- 6M
- -9.21%
- YTD
- -9.34%
- 1Y
- -3.62%
- 3Y*
- 7.99%
- 5Y*
- -1.41%
- 10Y*
- 5.09%
CRDOX
- 1D
- 0.00%
- 1M
- 0.41%
- 6M
- 2.22%
- YTD
- 2.56%
- 1Y
- 7.11%
- 3Y*
- 8.17%
- 5Y*
- 3.14%
- 10Y*
- —
NHS vs. CRDOX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
NHS Neuberger Berman High Yield Strategies Fund | -9.34% | 14.81% | 11.04% | 6.12% | -22.99% | 15.78% | 3.06% |
CRDOX Six Circles Credit Opportunities Fund | 2.56% | 7.48% | 8.69% | 8.06% | -10.62% | 2.66% | 1.71% |
Correlation
The correlation between NHS and CRDOX is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.37 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.29 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.37 |
Correlation (All Time) Calculated using the full available price history since Nov 23, 2020 | 0.35 |
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Return for Risk
NHS vs. CRDOX — Risk / Return Rank
NHS
CRDOX
NHS vs. CRDOX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Neuberger Berman High Yield Strategies Fund (NHS) and Six Circles Credit Opportunities Fund (CRDOX). 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 | CRDOX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.75 | ||
| Sortino ratioReturn per unit of downside risk | -4.28 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 1.59 | -0.63 |
| Calmar ratioReturn relative to maximum drawdown | -0.21 | 2.61 | -2.82 |
| Martin ratioReturn relative to average drawdown | -0.44 | 11.53 | -11.96 |
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Drawdowns
NHS vs. CRDOX - Drawdown Comparison
The maximum NHS drawdown since its inception was -64.67%, which is greater than CRDOX's maximum drawdown of -15.92%. Use the drawdown chart below to compare losses from any high point for NHS and CRDOX.
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Drawdown Indicators
| NHS | CRDOX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -64.67% | -15.92% | -48.75% |
Max Drawdown (1Y)Largest decline over 1 year | -17.01% | -2.70% | -14.31% |
Max Drawdown (3Y)Largest decline over 3 years | -17.01% | -4.66% | -12.35% |
Max Drawdown (5Y)Largest decline over 5 years | -37.43% | -15.92% | -21.51% |
Max Drawdown (10Y)Largest decline over 10 years | -42.97% | — | — |
Current DrawdownCurrent decline from peak | -14.81% | -0.22% | -14.59% |
Average DrawdownAverage peak-to-trough decline | -8.88% | -3.46% | -5.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.28% | 0.61% | +7.67% |
Volatility
NHS vs. CRDOX - Volatility Comparison
Neuberger Berman High Yield Strategies Fund (NHS) has a higher volatility of 2.65% compared to Six Circles Credit Opportunities Fund (CRDOX) at 0.63%. This indicates that NHS's price experiences larger fluctuations and is considered to be riskier than CRDOX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NHS | CRDOX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.65% | 0.63% | +2.02% |
Volatility (6M)Calculated over the trailing 6-month period | 9.74% | 2.33% | +7.41% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.77% | 2.86% | +9.91% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.14% | 4.15% | +11.99% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.70% | 4.00% | +12.70% |
NHS vs. CRDOX - Expense Ratio Comparison
NHS has a 4.14% expense ratio, which is higher than CRDOX's 0.29% expense ratio.
Dividends
NHS vs. CRDOX - Dividend Comparison
NHS's dividend yield for the trailing twelve months is around 17.45%, more than CRDOX's 6.56% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CRDOX Six Circles Credit Opportunities Fund | 6.56% | 5.18% | 6.96% | 6.86% | 5.82% | 2.73% | 0.33% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
NHS Neuberger Berman High Yield Strategies Fund | 17.45% | 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 CRDOX have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NHS has higher volatility (2.65%) compared to CRDOX (0.63%). In terms of maximum drawdown, NHS dropped -64.67% vs CRDOX's -15.92%.
CRDOX currently has the higher Sharpe Ratio (2.47 vs -0.28), 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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