NLSIX vs. NHS
NLSIX (Neuberger Berman Long Short Fund) and NHS (Neuberger Berman High Yield Strategies Fund) are both mutual funds - NLSIX is a Long-Short fund managed by Neuberger Berman, while NHS is a High Yield Bonds fund actively managed by Neuberger Berman. Over the past 10 years, NLSIX returned 6.91%/yr vs 5.33%/yr for NHS. At a 0.39 correlation, their price movements are largely independent. NLSIX charges 1.28%/yr vs 4.14%/yr for NHS.
Performance
NLSIX vs. NHS - Performance Comparison
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Returns By Period
In the year-to-date period, NLSIX achieves a 1.05% return, which is significantly higher than NHS's -10.80% return. Over the past 10 years, NLSIX has outperformed NHS with an annualized return of 6.91%, while NHS has yielded a comparatively lower 5.33% annualized return.
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
- 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 vs. NHS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
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% |
Correlation
The correlation between NLSIX and NHS 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
NLSIX vs. NHS — Risk / Return Rank
NLSIX
NHS
NLSIX vs. NHS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Neuberger Berman Long Short Fund (NLSIX) and Neuberger Berman High Yield Strategies Fund (NHS). 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.
| NLSIX | NHS | 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 | 1.21 | 0.96 | +0.24 |
| Calmar ratioReturn relative to maximum drawdown | 1.34 | -0.19 | +1.53 |
| Martin ratioReturn relative to average drawdown | 5.03 | -0.43 | +5.46 |
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Drawdowns
NLSIX vs. NHS - Drawdown Comparison
The maximum NLSIX drawdown since its inception was -14.75%, smaller than the maximum NHS drawdown of -64.67%. Use the drawdown chart below to compare losses from any high point for NLSIX and NHS.
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Drawdown Indicators
| NLSIX | NHS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.75% | -64.67% | +49.92% |
Max Drawdown (1Y)Largest decline over 1 year | -4.39% | -17.01% | +12.62% |
Max Drawdown (3Y)Largest decline over 3 years | -6.90% | -17.01% | +10.11% |
Max Drawdown (5Y)Largest decline over 5 years | -10.79% | -37.43% | +26.64% |
Max Drawdown (10Y)Largest decline over 10 years | -14.75% | -42.97% | +28.22% |
Current DrawdownCurrent decline from peak | -1.84% | -16.18% | +14.34% |
Average DrawdownAverage peak-to-trough decline | -2.01% | -8.87% | +6.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.17% | 7.55% | -6.38% |
Volatility
NLSIX vs. NHS - Volatility Comparison
The current volatility for Neuberger Berman Long Short Fund (NLSIX) is 2.18%, while Neuberger Berman High Yield Strategies Fund (NHS) has a volatility of 3.14%. This indicates that NLSIX experiences smaller price fluctuations and is considered to be less risky than NHS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NLSIX | NHS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.18% | 3.14% | -0.96% |
Volatility (6M)Calculated over the trailing 6-month period | 4.40% | 10.11% | -5.71% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.29% | 12.95% | -7.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.70% | 16.17% | -9.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.35% | 16.71% | -9.36% |
NLSIX vs. NHS - Expense Ratio Comparison
NLSIX has a 1.28% expense ratio, which is lower than NHS's 4.14% expense ratio.
Dividends
NLSIX vs. NHS - Dividend Comparison
NLSIX's dividend yield for the trailing twelve months is around 0.05%, less than NHS's 17.74% 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
NLSIX and NHS 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, NLSIX dropped -14.75% vs NHS's -64.67%.
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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