NHS vs. NLSIX
NHS (Neuberger Berman High Yield Strategies Fund) and NLSIX (Neuberger Berman Long Short Fund) are both mutual funds - NHS is a High Yield Bonds fund actively managed by Neuberger Berman, while NLSIX is a Long-Short fund managed by Neuberger Berman. Over the past 10 years, NHS returned 5.33%/yr vs 6.91%/yr for NLSIX. At a 0.39 correlation, their price movements are largely independent. NHS charges 4.14%/yr vs 1.28%/yr for NLSIX.
Performance
NHS vs. NLSIX - 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 NLSIX's 1.05% return. Over the past 10 years, NHS has underperformed NLSIX with an annualized return of 5.33%, while NLSIX has yielded a comparatively higher 6.91% 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%
NLSIX
- 1D
- -0.83%
- 1M
- -1.55%
- YTD
- 1.05%
- 6M
- 1.20%
- 1Y
- 5.62%
- 3Y*
- 7.14%
- 5Y*
- 5.09%
- 10Y*
- 6.91%
NHS vs. NLSIX - 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% |
NLSIX Neuberger Berman Long Short Fund | 1.05% | 7.20% | 7.47% | 13.10% | -6.85% | 9.01% | 15.27% | 17.11% | -6.92% | 13.39% |
Correlation
The correlation between NHS and NLSIX is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.32 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.29 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.38 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.39 |
Correlation (All Time) Calculated using the full available price history since Dec 29, 2011 | 0.39 |
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Return for Risk
NHS vs. NLSIX — Risk / Return Rank
NHS
NLSIX
NHS vs. NLSIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Neuberger Berman High Yield Strategies Fund (NHS) and Neuberger Berman Long Short Fund (NLSIX). 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 | NLSIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.37 | ||
| Sortino ratioReturn per unit of downside risk | -1.89 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 1.21 | -0.24 |
| Calmar ratioReturn relative to maximum drawdown | -0.19 | 1.34 | -1.53 |
| Martin ratioReturn relative to average drawdown | -0.43 | 5.03 | -5.46 |
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Drawdowns
NHS vs. NLSIX - Drawdown Comparison
The maximum NHS drawdown since its inception was -64.67%, which is greater than NLSIX's maximum drawdown of -14.75%. Use the drawdown chart below to compare losses from any high point for NHS and NLSIX.
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Drawdown Indicators
| NHS | NLSIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -64.67% | -14.75% | -49.92% |
Max Drawdown (1Y)Largest decline over 1 year | -17.01% | -4.39% | -12.62% |
Max Drawdown (3Y)Largest decline over 3 years | -17.01% | -6.90% | -10.11% |
Max Drawdown (5Y)Largest decline over 5 years | -37.43% | -10.79% | -26.64% |
Max Drawdown (10Y)Largest decline over 10 years | -42.97% | -14.75% | -28.22% |
Current DrawdownCurrent decline from peak | -16.18% | -1.84% | -14.34% |
Average DrawdownAverage peak-to-trough decline | -8.87% | -2.01% | -6.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.55% | 1.17% | +6.38% |
Volatility
NHS vs. NLSIX - Volatility Comparison
Neuberger Berman High Yield Strategies Fund (NHS) has a higher volatility of 3.14% compared to Neuberger Berman Long Short Fund (NLSIX) at 2.18%. This indicates that NHS's price experiences larger fluctuations and is considered to be riskier than NLSIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NHS | NLSIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.14% | 2.18% | +0.96% |
Volatility (6M)Calculated over the trailing 6-month period | 10.11% | 4.40% | +5.71% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.95% | 5.29% | +7.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.17% | 6.70% | +9.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.71% | 7.35% | +9.36% |
NHS vs. NLSIX - Expense Ratio Comparison
NHS has a 4.14% expense ratio, which is higher than NLSIX's 1.28% expense ratio.
Dividends
NHS vs. NLSIX - Dividend Comparison
NHS's dividend yield for the trailing twelve months is around 17.74%, more than NLSIX's 0.05% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
NLSIX Neuberger Berman Long Short Fund | 0.05% | 0.05% | 0.02% | 0.97% | 7.01% | 1.13% | 2.15% | 2.39% | 5.91% | 0.00% | 0.00% | 0.01% |
Frequently Asked Questions
NHS and NLSIX have a correlation of 0.32, 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 NLSIX (2.18%). In terms of maximum drawdown, NHS dropped -64.67% vs NLSIX's -14.75%.
NLSIX currently has the higher Sharpe Ratio (1.12 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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