NHS vs. VWEAX
NHS (Neuberger Berman High Yield Strategies Fund) and VWEAX (Vanguard High-Yield Corporate Fund Admiral Shares) are both High Yield Bonds funds. Both are actively managed. Over the past 10 years, NHS returned 5.33%/yr vs 5.28%/yr for VWEAX. At a 0.35 correlation, their price movements are largely independent. NHS charges 4.14%/yr vs 0.12%/yr for VWEAX.
Performance
NHS vs. VWEAX - 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 VWEAX's 1.01% return. Both investments have delivered pretty close results over the past 10 years, with NHS having a 5.33% annualized return and VWEAX not far behind at 5.28%.
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%
VWEAX
- 1D
- 0.00%
- 1M
- 0.72%
- YTD
- 1.01%
- 6M
- 1.72%
- 1Y
- 6.34%
- 3Y*
- 8.49%
- 5Y*
- 4.12%
- 10Y*
- 5.28%
NHS vs. VWEAX - 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% |
VWEAX Vanguard High-Yield Corporate Fund Admiral Shares | 1.01% | 9.49% | 6.42% | 11.79% | -8.95% | 3.04% | 5.41% | 15.92% | -2.80% | 7.17% |
Correlation
The correlation between NHS and VWEAX 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 | 0.34 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.44 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.44 |
Correlation (All Time) Calculated using the full available price history since Jul 29, 2003 | 0.35 |
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Return for Risk
NHS vs. VWEAX — Risk / Return Rank
NHS
VWEAX
NHS vs. VWEAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Neuberger Berman High Yield Strategies Fund (NHS) and Vanguard High-Yield Corporate Fund Admiral Shares (VWEAX). 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 | VWEAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.26 | ||
| Sortino ratioReturn per unit of downside risk | -3.73 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 1.49 | -0.53 |
| Calmar ratioReturn relative to maximum drawdown | -0.19 | 2.60 | -2.79 |
| Martin ratioReturn relative to average drawdown | -0.43 | 13.17 | -13.60 |
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Drawdowns
NHS vs. VWEAX - Drawdown Comparison
The maximum NHS drawdown since its inception was -64.67%, which is greater than VWEAX's maximum drawdown of -30.05%. Use the drawdown chart below to compare losses from any high point for NHS and VWEAX.
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Drawdown Indicators
| NHS | VWEAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -64.67% | -30.05% | -34.62% |
Max Drawdown (1Y)Largest decline over 1 year | -17.01% | -2.52% | -14.49% |
Max Drawdown (3Y)Largest decline over 3 years | -17.01% | -3.32% | -13.69% |
Max Drawdown (5Y)Largest decline over 5 years | -37.43% | -13.77% | -23.66% |
Max Drawdown (10Y)Largest decline over 10 years | -42.97% | -19.68% | -23.29% |
Current DrawdownCurrent decline from peak | -16.18% | -0.18% | -16.00% |
Average DrawdownAverage peak-to-trough decline | -8.87% | -2.12% | -6.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.55% | 0.50% | +7.05% |
Volatility
NHS vs. VWEAX - Volatility Comparison
Neuberger Berman High Yield Strategies Fund (NHS) has a higher volatility of 3.14% compared to Vanguard High-Yield Corporate Fund Admiral Shares (VWEAX) at 0.87%. This indicates that NHS's price experiences larger fluctuations and is considered to be riskier than VWEAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NHS | VWEAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.14% | 0.87% | +2.27% |
Volatility (6M)Calculated over the trailing 6-month period | 10.11% | 2.62% | +7.49% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.95% | 3.29% | +9.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.17% | 4.92% | +11.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.71% | 5.27% | +11.44% |
NHS vs. VWEAX - Expense Ratio Comparison
NHS has a 4.14% expense ratio, which is higher than VWEAX's 0.12% expense ratio.
Dividends
NHS vs. VWEAX - Dividend Comparison
NHS's dividend yield for the trailing twelve months is around 17.74%, more than VWEAX's 6.37% 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% |
VWEAX Vanguard High-Yield Corporate Fund Admiral Shares | 6.37% | 6.25% | 6.20% | 5.79% | 5.21% | 3.49% | 4.71% | 5.33% | 6.07% | 5.39% | 5.51% | 6.53% |
Frequently Asked Questions
NHS and VWEAX 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 (3.14%) compared to VWEAX (0.87%). In terms of maximum drawdown, NHS dropped -64.67% vs VWEAX's -30.05%.
VWEAX currently has the higher Sharpe Ratio (2.00 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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