NML vs. NBSSX
NML (Neuberger Berman MLP) and NBSSX (Neuberger Berman Focus Fund) are both mutual funds - NML is a MLPs fund actively managed by Neuberger Berman, while NBSSX is a Global Equities fund managed by Neuberger Berman. Over the past 10 years, NML returned 10.71%/yr vs 10.79%/yr for NBSSX. Their 0.40 correlation means their historical movements had little consistent relationship. NML charges 2.72%/yr vs 0.89%/yr for NBSSX.
Performance
NML vs. NBSSX - Performance Comparison
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Returns By Period
In the year-to-date period, NML achieves a 28.84% return, which is significantly higher than NBSSX's 4.74% return. Both investments have delivered pretty close results over the past 10 years, with NML having a 10.71% annualized return and NBSSX not far ahead at 10.79%.
NML
- 1D
- 1.65%
- 1M
- 4.26%
- 6M
- 15.85%
- YTD
- 28.84%
- 1Y
- 30.58%
- 3Y*
- 24.05%
- 5Y*
- 26.21%
- 10Y*
- 10.71%
- ALL TIME*
- 2.88%
NBSSX
- 1D
- 3.23%
- 1M
- -2.52%
- 6M
- 4.55%
- YTD
- 4.74%
- 1Y
- 11.81%
- 3Y*
- 17.33%
- 5Y*
- 6.02%
- 10Y*
- 10.79%
- ALL TIME*
- 7.98%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $1.26M | $1.11M | $1.30M |
NML vs. NBSSX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NML Neuberger Berman MLP | 28.84% | 4.36% | 40.55% | 14.61% | 32.75% | 61.76% | -45.84% | 10.60% | -23.02% | 7.07% |
NBSSX Neuberger Berman Focus Fund | 4.74% | 21.36% | 21.64% | 23.73% | -31.74% | 19.85% | 24.45% | 28.50% | -9.02% | 19.39% |
Correlation
The correlation between NML and NBSSX is 0.05, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.05 |
Correlation (3Y) Balances recent behavior with more history. | 0.25 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.37 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.40 |
Correlation (All Time) Calculated using the full available price history since Mar 26, 2013 | 0.40 |
Over the past year, the correlation between NML and NBSSX has dropped to 0.05 - well below their long-term average of 0.40, suggesting their price drivers have been diverging.
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Return for Risk
NML vs. NBSSX — Risk / Return Rank
NML
NBSSX
NML vs. NBSSX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Neuberger Berman MLP (NML) and Neuberger Berman Focus Fund (NBSSX). 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 | NBSSX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.98 | ||
| Sortino ratioReturn per unit of downside risk | +1.15 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.12 | +0.15 |
| Calmar ratioReturn relative to maximum drawdown | 3.08 | 0.78 | +2.31 |
| Martin ratioReturn relative to average drawdown | 8.41 | 2.86 | +5.56 |
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Drawdowns
NML vs. NBSSX - Drawdown Comparison
The maximum NML drawdown since its inception was -90.48%, which is greater than NBSSX's maximum drawdown of -61.56%. Use the drawdown chart below to compare losses from any high point for NML and NBSSX.
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Drawdown Indicators
| NML | NBSSX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -90.48% | -61.56% | -28.92% |
Max Drawdown (1Y)Largest decline over 1 year | -9.57% | -12.61% | +3.04% |
Max Drawdown (3Y)Largest decline over 3 years | -16.92% | -20.39% | +3.47% |
Max Drawdown (5Y)Largest decline over 5 years | -21.40% | -40.77% | +19.37% |
Max Drawdown (10Y)Largest decline over 10 years | -84.84% | -40.77% | -44.07% |
Current DrawdownCurrent decline from peak | -2.43% | -4.90% | +2.47% |
Average DrawdownAverage peak-to-trough decline | -36.68% | -12.99% | -23.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.51% | 3.42% | +0.09% |
Volatility
NML vs. NBSSX - Volatility Comparison
Neuberger Berman MLP (NML) has a higher volatility of 6.97% compared to Neuberger Berman Focus Fund (NBSSX) at 5.82%. This indicates that NML's price experiences larger fluctuations and is considered to be riskier than NBSSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NML | NBSSX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.97% | 5.82% | +1.15% |
Volatility (6M)Calculated over the trailing 6-month period | 14.90% | 13.34% | +1.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.33% | 15.58% | +2.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.73% | 19.16% | +4.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 35.00% | 19.24% | +15.76% |
NML vs. NBSSX - Expense Ratio Comparison
NML has a 2.72% expense ratio, which is higher than NBSSX's 0.89% expense ratio.
Dividends
NML vs. NBSSX - Dividend Comparison
NML's dividend yield for the trailing twelve months is around 7.15%, less than NBSSX's 9.34% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NBSSX Neuberger Berman Focus Fund | 9.34% | 9.78% | 0.19% | 0.59% | 0.05% | 19.35% | 5.37% | 12.78% | 9.08% | 8.32% | 9.59% | 5.18% |
NML Neuberger Berman MLP | 7.15% | 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 NBSSX have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NML has higher volatility (6.97%) compared to NBSSX (5.82%). In terms of maximum drawdown, NML dropped -90.48% vs NBSSX's -61.56%.
NML currently has the higher Sharpe Ratio (1.61 vs 0.63), 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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