NML vs. NBIIX
NML (Neuberger Berman MLP) and NBIIX (Neuberger Berman International Equity Fund) are both mutual funds - NML is a MLPs fund actively managed by Neuberger Berman, while NBIIX is a Foreign Large Cap Equities fund managed by Neuberger Berman. Over the past 10 years, NML returned 10.19%/yr vs 7.17%/yr for NBIIX. At a 0.36 correlation, their price movements are largely independent. NML charges 2.72%/yr vs 0.87%/yr for NBIIX.
Performance
NML vs. NBIIX - Performance Comparison
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Returns By Period
In the year-to-date period, NML achieves a 27.36% return, which is significantly higher than NBIIX's 5.48% return. Over the past 10 years, NML has outperformed NBIIX with an annualized return of 10.19%, while NBIIX has yielded a comparatively lower 7.17% annualized return.
NML
- 1D
- 0.10%
- 1M
- 2.97%
- 6M
- 25.88%
- YTD
- 27.36%
- 1Y
- 28.91%
- 3Y*
- 26.11%
- 5Y*
- 25.87%
- 10Y*
- 10.19%
NBIIX
- 1D
- 0.40%
- 1M
- -0.66%
- 6M
- 1.08%
- YTD
- 5.48%
- 1Y
- 1.14%
- 3Y*
- 9.88%
- 5Y*
- 2.82%
- 10Y*
- 7.17%
NML vs. NBIIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NML Neuberger Berman MLP | 27.36% | 4.36% | 40.55% | 14.61% | 32.75% | 61.76% | -45.84% | 10.60% | -23.02% | 7.07% |
NBIIX Neuberger Berman International Equity Fund | 5.48% | 13.56% | 5.34% | 14.28% | -22.00% | 13.85% | 13.89% | 27.89% | -16.45% | 27.16% |
Correlation
The correlation between NML and NBIIX is 0.03, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.03 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.25 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.37 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.39 |
Correlation (All Time) Calculated using the full available price history since Mar 26, 2013 | 0.36 |
Over the past year, the correlation between NML and NBIIX has dropped to 0.03 - well below their long-term average of 0.36, suggesting their price drivers have been diverging.
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Return for Risk
NML vs. NBIIX — Risk / Return Rank
NML
NBIIX
NML vs. NBIIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Neuberger Berman MLP (NML) and Neuberger Berman International Equity Fund (NBIIX). 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.
| NML | NBIIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.67 | ||
| Sortino ratioReturn per unit of downside risk | +2.12 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.02 | +0.27 |
| Calmar ratioReturn relative to maximum drawdown | 3.03 | 0.00 | +3.03 |
| Martin ratioReturn relative to average drawdown | 8.39 | 0.00 | +8.39 |
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Drawdowns
NML vs. NBIIX - Drawdown Comparison
The maximum NML drawdown since its inception was -90.48%, which is greater than NBIIX's maximum drawdown of -61.08%. Use the drawdown chart below to compare losses from any high point for NML and NBIIX.
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Drawdown Indicators
| NML | NBIIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -90.48% | -61.08% | -29.40% |
Max Drawdown (1Y)Largest decline over 1 year | -9.57% | -14.36% | +4.79% |
Max Drawdown (3Y)Largest decline over 3 years | -16.92% | -15.33% | -1.59% |
Max Drawdown (5Y)Largest decline over 5 years | -21.40% | -35.20% | +13.80% |
Max Drawdown (10Y)Largest decline over 10 years | -84.84% | -35.20% | -49.64% |
Current DrawdownCurrent decline from peak | -0.92% | -2.85% | +1.93% |
Average DrawdownAverage peak-to-trough decline | -36.82% | -13.07% | -23.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.45% | 4.78% | -1.33% |
Volatility
NML vs. NBIIX - Volatility Comparison
Neuberger Berman MLP (NML) and Neuberger Berman International Equity Fund (NBIIX) have volatilities of 5.80% and 6.10%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NML | NBIIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.80% | 6.10% | -0.30% |
Volatility (6M)Calculated over the trailing 6-month period | 13.93% | 14.05% | -0.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.41% | 18.91% | -1.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.76% | 17.67% | +6.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 34.98% | 17.00% | +17.98% |
NML vs. NBIIX - Expense Ratio Comparison
NML has a 2.72% expense ratio, which is higher than NBIIX's 0.87% expense ratio.
Dividends
NML vs. NBIIX - Dividend Comparison
NML's dividend yield for the trailing twelve months is around 7.07%, while NBIIX has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NBIIX Neuberger Berman International Equity Fund | 0.00% | 0.00% | 4.56% | 2.54% | 5.40% | 11.99% | 4.84% | 2.72% | 1.43% | 0.95% | 1.44% | 1.28% |
NML Neuberger Berman MLP | 7.07% | 8.24% | 7.94% | 10.19% | 4.26% | 3.54% | 8.33% | 9.76% | 9.87% | 7.04% | 8.63% | 15.44% |
Frequently Asked Questions
NML and NBIIX have a correlation of 0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NBIIX has higher volatility (6.10%) compared to NML (5.80%). In terms of maximum drawdown, NML dropped -90.48% vs NBIIX's -61.08%.
NML currently has the higher Sharpe Ratio (1.67 vs 0.00), 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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