NHS vs. MDHVX
NHS (Neuberger Berman High Yield Strategies Fund) and MDHVX (MainStay MacKay Short Duration High Yield Fund) are both High Yield Bonds funds. Over the past 10 years, NHS returned 5.33%/yr vs 4.63%/yr for MDHVX. At a 0.39 correlation, their price movements are largely independent. NHS charges 4.14%/yr vs 1.10%/yr for MDHVX.
Performance
NHS vs. MDHVX - Performance Comparison
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Returns By Period
In the year-to-date period, NHS achieves a -10.80% return, which is significantly lower than MDHVX's 1.85% return. Over the past 10 years, NHS has outperformed MDHVX with an annualized return of 5.33%, while MDHVX has yielded a comparatively lower 4.63% annualized return.
NHS
- 1D
- -0.49%
- 1M
- -1.46%
- YTD
- -10.80%
- 6M
- -6.99%
- 1Y
- -3.24%
- 3Y*
- 7.60%
- 5Y*
- -2.02%
- 10Y*
- 5.33%
MDHVX
- 1D
- 0.00%
- 1M
- 0.38%
- YTD
- 1.85%
- 6M
- 2.07%
- 1Y
- 4.67%
- 3Y*
- 6.53%
- 5Y*
- 4.25%
- 10Y*
- 4.63%
NHS vs. MDHVX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NHS Neuberger Berman High Yield Strategies Fund | -10.80% | 14.81% | 11.04% | 6.12% | -22.99% | 15.78% | 4.57% | 39.03% | -11.45% | 8.64% |
MDHVX MainStay MacKay Short Duration High Yield Fund | 1.85% | 5.38% | 6.51% | 9.86% | -2.81% | 4.38% | 2.92% | 9.00% | -0.13% | 4.30% |
Correlation
The correlation between NHS and MDHVX is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.42 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.36 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.43 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.41 |
Correlation (All Time) Calculated using the full available price history since Dec 18, 2012 | 0.39 |
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Return for Risk
NHS vs. MDHVX — Risk / Return Rank
NHS
MDHVX
NHS vs. MDHVX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Neuberger Berman High Yield Strategies Fund (NHS) and MainStay MacKay Short Duration High Yield Fund (MDHVX). 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 | MDHVX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.98 | ||
| Sortino ratioReturn per unit of downside risk | -4.34 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 1.70 | -0.74 |
| Calmar ratioReturn relative to maximum drawdown | -0.19 | 4.69 | -4.88 |
| Martin ratioReturn relative to average drawdown | -0.43 | 23.17 | -23.60 |
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Drawdowns
NHS vs. MDHVX - Drawdown Comparison
The maximum NHS drawdown since its inception was -64.67%, which is greater than MDHVX's maximum drawdown of -18.04%. Use the drawdown chart below to compare losses from any high point for NHS and MDHVX.
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Drawdown Indicators
| NHS | MDHVX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -64.67% | -18.04% | -46.63% |
Max Drawdown (1Y)Largest decline over 1 year | -17.01% | -1.06% | -15.95% |
Max Drawdown (3Y)Largest decline over 3 years | -17.01% | -2.65% | -14.36% |
Max Drawdown (5Y)Largest decline over 5 years | -37.43% | -6.26% | -31.17% |
Max Drawdown (10Y)Largest decline over 10 years | -42.97% | -18.04% | -24.93% |
Current DrawdownCurrent decline from peak | -16.18% | 0.00% | -16.18% |
Average DrawdownAverage peak-to-trough decline | -8.87% | -0.77% | -8.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.55% | 0.21% | +7.34% |
Volatility
NHS vs. MDHVX - Volatility Comparison
Neuberger Berman High Yield Strategies Fund (NHS) has a higher volatility of 3.14% compared to MainStay MacKay Short Duration High Yield Fund (MDHVX) at 0.40%. This indicates that NHS's price experiences larger fluctuations and is considered to be riskier than MDHVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NHS | MDHVX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.14% | 0.40% | +2.74% |
Volatility (6M)Calculated over the trailing 6-month period | 10.11% | 1.42% | +8.69% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.95% | 1.82% | +11.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.17% | 2.59% | +13.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.71% | 3.42% | +13.29% |
NHS vs. MDHVX - Expense Ratio Comparison
NHS has a 4.14% expense ratio, which is higher than MDHVX's 1.10% expense ratio.
Dividends
NHS vs. MDHVX - Dividend Comparison
NHS's dividend yield for the trailing twelve months is around 17.74%, more than MDHVX's 5.33% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MDHVX MainStay MacKay Short Duration High Yield Fund | 5.33% | 5.47% | 6.01% | 5.53% | 4.31% | 3.80% | 4.44% | 4.37% | 4.33% | 4.03% | 4.95% | 4.87% |
NHS Neuberger Berman High Yield Strategies Fund | 17.74% | 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 MDHVX have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NHS has higher volatility (3.14%) compared to MDHVX (0.40%). In terms of maximum drawdown, NHS dropped -64.67% vs MDHVX's -18.04%.
MDHVX currently has the higher Sharpe Ratio (2.73 vs -0.26), 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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