NMUIX vs. NML
NMUIX (Neuberger Berman Municipal Intermediate Bond Fund) and NML (Neuberger Berman MLP) are both mutual funds - NMUIX is a Municipal Bonds fund managed by Neuberger Berman, while NML is a MLPs fund actively managed by Neuberger Berman. Over the past 10 years, NMUIX returned 1.74%/yr vs 9.77%/yr for NML. At a correlation of -0.02, they often move in opposite directions. NMUIX charges 0.45%/yr vs 2.72%/yr for NML.
Performance
NMUIX vs. NML - Performance Comparison
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Returns By Period
In the year-to-date period, NMUIX achieves a 1.60% return, which is significantly lower than NML's 19.29% return. Over the past 10 years, NMUIX has underperformed NML with an annualized return of 1.74%, while NML has yielded a comparatively higher 9.77% annualized return.
NMUIX
- 1D
- 0.00%
- 1M
- 1.34%
- YTD
- 1.60%
- 6M
- 1.93%
- 1Y
- 5.79%
- 3Y*
- 4.02%
- 5Y*
- 0.74%
- 10Y*
- 1.74%
NML
- 1D
- 0.72%
- 1M
- -6.05%
- YTD
- 19.29%
- 6M
- 21.14%
- 1Y
- 21.15%
- 3Y*
- 26.04%
- 5Y*
- 22.96%
- 10Y*
- 9.77%
NMUIX vs. NML - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NMUIX Neuberger Berman Municipal Intermediate Bond Fund | 1.60% | 5.31% | 2.19% | 5.14% | -9.87% | 1.46% | 3.82% | 6.76% | 0.94% | 3.93% |
NML Neuberger Berman MLP | 19.29% | 4.36% | 40.55% | 14.61% | 32.75% | 61.76% | -45.84% | 10.60% | -23.02% | 7.07% |
Correlation
The correlation between NMUIX and NML is -0.09, 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 | -0.09 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.05 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.05 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.01 |
Correlation (All Time) Calculated using the full available price history since Mar 26, 2013 | -0.02 |
The correlation between NMUIX and NML shifts across timeframes, from -0.09 (1 year) to 0.05 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
NMUIX vs. NML — Risk / Return Rank
NMUIX
NML
NMUIX vs. NML - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Neuberger Berman Municipal Intermediate Bond Fund (NMUIX) and Neuberger Berman MLP (NML). 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.
| NMUIX | NML | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.47 | ||
| Sortino ratioReturn per unit of downside risk | +2.53 | ||
| Omega ratioGain probability vs. loss probability | 1.74 | 1.21 | +0.52 |
| Calmar ratioReturn relative to maximum drawdown | 2.44 | 2.20 | +0.24 |
| Martin ratioReturn relative to average drawdown | 8.27 | 5.90 | +2.37 |
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Drawdowns
NMUIX vs. NML - Drawdown Comparison
The maximum NMUIX drawdown since its inception was -13.85%, smaller than the maximum NML drawdown of -90.48%. Use the drawdown chart below to compare losses from any high point for NMUIX and NML.
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Drawdown Indicators
| NMUIX | NML | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.85% | -90.48% | +76.63% |
Max Drawdown (1Y)Largest decline over 1 year | -2.40% | -9.67% | +7.27% |
Max Drawdown (3Y)Largest decline over 3 years | -4.44% | -16.92% | +12.48% |
Max Drawdown (5Y)Largest decline over 5 years | -13.85% | -21.40% | +7.55% |
Max Drawdown (10Y)Largest decline over 10 years | -13.85% | -84.84% | +70.99% |
Current DrawdownCurrent decline from peak | -0.41% | -7.21% | +6.80% |
Average DrawdownAverage peak-to-trough decline | -1.62% | -36.95% | +35.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.70% | 3.60% | -2.90% |
Volatility
NMUIX vs. NML - Volatility Comparison
The current volatility for Neuberger Berman Municipal Intermediate Bond Fund (NMUIX) is 0.61%, while Neuberger Berman MLP (NML) has a volatility of 6.17%. This indicates that NMUIX experiences smaller price fluctuations and is considered to be less risky than NML based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NMUIX | NML | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.61% | 6.17% | -5.56% |
Volatility (6M)Calculated over the trailing 6-month period | 1.75% | 13.72% | -11.97% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.17% | 17.28% | -15.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.19% | 23.81% | -20.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.42% | 35.08% | -31.66% |
NMUIX vs. NML - Expense Ratio Comparison
NMUIX has a 0.45% expense ratio, which is lower than NML's 2.72% expense ratio.
Dividends
NMUIX vs. NML - Dividend Comparison
NMUIX's dividend yield for the trailing twelve months is around 2.87%, less than NML's 7.55% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NML Neuberger Berman MLP | 7.55% | 8.24% | 7.94% | 10.19% | 4.26% | 3.54% | 8.33% | 9.76% | 9.87% | 7.04% | 8.63% | 15.44% |
NMUIX Neuberger Berman Municipal Intermediate Bond Fund | 2.87% | 3.75% | 3.17% | 2.03% | 1.58% | 2.37% | 2.32% | 2.80% | 2.38% | 2.31% | 2.65% | 2.54% |
Frequently Asked Questions
NMUIX and NML have a correlation of -0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NML has higher volatility (6.17%) compared to NMUIX (0.61%). In terms of maximum drawdown, NMUIX dropped -13.85% vs NML's -90.48%.
NMUIX currently has the higher Sharpe Ratio (2.70 vs 1.23), 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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