NHS vs. PIAMX
NHS (Neuberger Berman High Yield Strategies Fund) and PIAMX (PIA High Yield (MACS) Fund) are both High Yield Bonds funds. Over the past 5 years, NHS returned -1.40%/yr vs 3.94%/yr for PIAMX. Their 0.38 correlation means their historical movements had little consistent relationship. NHS charges 4.14%/yr vs 0.20%/yr for PIAMX.
Performance
NHS vs. PIAMX - 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 PIAMX's 1.27% 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%
PIAMX
- 1D
- 0.00%
- 1M
- 0.23%
- 6M
- 0.37%
- YTD
- 1.27%
- 1Y
- 2.29%
- 3Y*
- 6.73%
- 5Y*
- 3.94%
- 10Y*
- —
- ALL TIME*
- 5.12%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.10M | $993.10K | $1.33M | |
| $0.00 | $0.00 | $0.00 |
NHS vs. PIAMX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
NHS Neuberger Berman High Yield Strategies Fund | -10.67% | 14.81% | 11.04% | 6.12% | -22.99% | 15.78% | 4.57% | 39.03% | -11.01% |
PIAMX PIA High Yield (MACS) Fund | 1.27% | 2.34% | 11.23% | 16.38% | -10.93% | 7.82% | 9.05% | 11.77% | -2.63% |
Correlation
The correlation between NHS and PIAMX is 0.39, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.39 |
Correlation (3Y) Balances recent behavior with more history. | 0.31 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.37 |
Correlation (All Time) Calculated using the full available price history since Jan 29, 2018 | 0.38 |
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Return for Risk
NHS vs. PIAMX — Risk / Return Rank
NHS
PIAMX
NHS vs. PIAMX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Neuberger Berman High Yield Strategies Fund (NHS) and PIA High Yield (MACS) Fund (PIAMX). 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 | PIAMX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.93 | ||
| Sortino ratioReturn per unit of downside risk | -1.18 | ||
| Omega ratioGain probability vs. loss probability | 0.95 | 1.12 | -0.17 |
| Calmar ratioReturn relative to maximum drawdown | -0.24 | 0.52 | -0.76 |
| Martin ratioReturn relative to average drawdown | -0.46 | 1.54 | -1.99 |
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Drawdowns
NHS vs. PIAMX - Drawdown Comparison
The maximum NHS drawdown since its inception was -64.67%, which is greater than PIAMX's maximum drawdown of -18.15%. Use the drawdown chart below to compare losses from any high point for NHS and PIAMX.
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Drawdown Indicators
| NHS | PIAMX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -64.67% | -18.15% | -46.52% |
Max Drawdown (1Y)Largest decline over 1 year | -17.01% | -3.75% | -13.26% |
Max Drawdown (3Y)Largest decline over 3 years | -17.01% | -6.17% | -10.84% |
Max Drawdown (5Y)Largest decline over 5 years | -37.43% | -13.92% | -23.51% |
Max Drawdown (10Y)Largest decline over 10 years | -42.97% | — | — |
Current DrawdownCurrent decline from peak | -16.06% | -0.27% | -15.79% |
Average DrawdownAverage peak-to-trough decline | -8.90% | -2.30% | -6.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.11% | 1.25% | +7.86% |
Volatility
NHS vs. PIAMX - Volatility Comparison
Neuberger Berman High Yield Strategies Fund (NHS) has a higher volatility of 2.57% compared to PIA High Yield (MACS) Fund (PIAMX) at 0.64%. This indicates that NHS's price experiences larger fluctuations and is considered to be riskier than PIAMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NHS | PIAMX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.57% | 0.64% | +1.93% |
Volatility (6M)Calculated over the trailing 6-month period | 9.65% | 2.53% | +7.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.93% | 3.18% | +9.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.10% | 4.05% | +12.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.69% | 4.20% | +12.49% |
NHS vs. PIAMX - Expense Ratio Comparison
NHS has a 4.14% expense ratio, which is higher than PIAMX's 0.20% expense ratio.
Dividends
NHS vs. PIAMX - Dividend Comparison
NHS's dividend yield for the trailing twelve months is around 17.98%, more than PIAMX's 7.08% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
PIAMX PIA High Yield (MACS) Fund | 7.08% | 9.12% | 8.49% | 8.12% | 7.99% | 8.64% | 6.63% | 6.96% | 7.14% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
NHS and PIAMX have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NHS has higher volatility (2.57%) compared to PIAMX (0.64%). In terms of maximum drawdown, NHS dropped -64.67% vs PIAMX's -18.15%.
PIAMX currently has the higher Sharpe Ratio (0.61 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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