NSTLX vs. NCRLX
NSTLX (Neuberger Berman Strategic Income Fund) and NCRLX (Neuberger Berman Core Bond Fund) are both mutual funds - NSTLX is a Multisector Bonds fund managed by Neuberger Berman, while NCRLX is a Intermediate Core Bond fund managed by Neuberger Berman. Over the past 10 years, NSTLX returned 3.80%/yr vs 1.64%/yr for NCRLX. A 0.68 correlation means they provide meaningful diversification when combined. NSTLX charges 0.59%/yr vs 0.39%/yr for NCRLX.
Performance
NSTLX vs. NCRLX - Performance Comparison
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Returns By Period
In the year-to-date period, NSTLX achieves a 0.54% return, which is significantly higher than NCRLX's -0.15% return. Over the past 10 years, NSTLX has outperformed NCRLX with an annualized return of 3.80%, while NCRLX has yielded a comparatively lower 1.64% annualized return.
NSTLX
- 1D
- -0.10%
- 1M
- -0.02%
- 6M
- 0.44%
- YTD
- 0.54%
- 1Y
- 5.16%
- 3Y*
- 7.38%
- 5Y*
- 2.62%
- 10Y*
- 3.80%
NCRLX
- 1D
- -0.23%
- 1M
- -0.54%
- 6M
- -0.26%
- YTD
- -0.15%
- 1Y
- 3.91%
- 3Y*
- 4.34%
- 5Y*
- -0.31%
- 10Y*
- 1.64%
NSTLX vs. NCRLX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NSTLX Neuberger Berman Strategic Income Fund | 0.54% | 9.44% | 6.02% | 10.07% | -11.81% | 2.94% | 7.78% | 10.55% | -2.34% | 7.00% |
NCRLX Neuberger Berman Core Bond Fund | -0.15% | 7.24% | 1.90% | 5.69% | -14.36% | -1.07% | 9.50% | 9.43% | -1.06% | 3.95% |
Correlation
The correlation between NSTLX and NCRLX is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.91 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.93 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.84 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.77 |
Correlation (All Time) Calculated using the full available price history since Jul 15, 2003 | 0.68 |
Over the past year, NSTLX and NCRLX have become more correlated (0.91) than their long-term average of 0.68, meaning their price movements have been converging.
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Return for Risk
NSTLX vs. NCRLX — Risk / Return Rank
NSTLX
NCRLX
NSTLX vs. NCRLX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Neuberger Berman Strategic Income Fund (NSTLX) and Neuberger Berman Core Bond Fund (NCRLX). 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.
| NSTLX | NCRLX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.52 | ||
| Sortino ratioReturn per unit of downside risk | +0.79 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.15 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | 1.51 | 1.18 | +0.33 |
| Martin ratioReturn relative to average drawdown | 5.24 | 3.21 | +2.03 |
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Drawdowns
NSTLX vs. NCRLX - Drawdown Comparison
The maximum NSTLX drawdown since its inception was -19.00%, roughly equal to the maximum NCRLX drawdown of -19.21%. Use the drawdown chart below to compare losses from any high point for NSTLX and NCRLX.
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Drawdown Indicators
| NSTLX | NCRLX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.00% | -19.21% | +0.21% |
Max Drawdown (1Y)Largest decline over 1 year | -3.30% | -2.93% | -0.37% |
Max Drawdown (3Y)Largest decline over 3 years | -4.85% | -6.39% | +1.54% |
Max Drawdown (5Y)Largest decline over 5 years | -16.65% | -19.21% | +2.56% |
Max Drawdown (10Y)Largest decline over 10 years | -19.00% | -19.21% | +0.21% |
Current DrawdownCurrent decline from peak | -1.07% | -2.47% | +1.40% |
Average DrawdownAverage peak-to-trough decline | -2.70% | -3.80% | +1.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.95% | 1.08% | -0.13% |
Volatility
NSTLX vs. NCRLX - Volatility Comparison
The current volatility for Neuberger Berman Strategic Income Fund (NSTLX) is 1.05%, while Neuberger Berman Core Bond Fund (NCRLX) has a volatility of 1.22%. This indicates that NSTLX experiences smaller price fluctuations and is considered to be less risky than NCRLX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NSTLX | NCRLX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.05% | 1.22% | -0.17% |
Volatility (6M)Calculated over the trailing 6-month period | 3.01% | 3.07% | -0.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.60% | 3.99% | -0.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.08% | 6.04% | -0.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.98% | 5.01% | -0.03% |
NSTLX vs. NCRLX - Expense Ratio Comparison
NSTLX has a 0.59% expense ratio, which is higher than NCRLX's 0.39% expense ratio.
Dividends
NSTLX vs. NCRLX - Dividend Comparison
NSTLX's dividend yield for the trailing twelve months is around 5.60%, more than NCRLX's 4.72% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NCRLX Neuberger Berman Core Bond Fund | 4.72% | 4.68% | 4.76% | 3.90% | 2.63% | 2.47% | 4.76% | 3.37% | 3.00% | 2.80% | 3.37% | 3.15% |
NSTLX Neuberger Berman Strategic Income Fund | 5.60% | 5.46% | 5.31% | 5.38% | 3.92% | 6.29% | 3.81% | 4.02% | 4.33% | 3.64% | 3.54% | 4.09% |
Frequently Asked Questions
With a correlation of 0.91, NSTLX and NCRLX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
NCRLX has higher volatility (1.22%) compared to NSTLX (1.05%). In terms of maximum drawdown, NSTLX dropped -19.00% vs NCRLX's -19.21%.
NSTLX currently has the higher Sharpe Ratio (1.39 vs 0.87), 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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