Neuberger Berman Short Duration Bond Fund
Name
As of 06/21/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
N/A
1 yr return
N/A
3 Yr Avg Return
N/A
5 Yr Avg Return
N/A
Net Assets
$171 M
Holdings in Top 10
16.6%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 0.57%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover N/A
Redemption Fee N/A
Min Investment
Standard (Taxable)
N/A
IRA
N/A
Fund Classification
Fund Type
Exchange Traded Fund
Name
As of 06/21/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
NSHLX - Profile
Distributions
- YTD Total Return N/A
- 3 Yr Annualized Total Return N/A
- 5 Yr Annualized Total Return N/A
- Capital Gain Distribution Frequency N/A
- Net Income Ratio N/A
- Dividend Yield 0.0%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameNeuberger Berman Short Duration Bond Fund
-
Fund Family NameNeuberger Berman
-
Inception DateJun 21, 2010
-
Shares OutstandingN/A
-
Share ClassN/A
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerMichael Foster
Fund Description
To pursue its goals, the Fund invests mainly in fixed and floating rate investment-grade bonds and other debt securities issued by domestic and foreign governments, corporate entities, and trusts. These may include mortgage- and asset-backed securities, collateralized debt obligations (“CDOs”), including collateralized loan obligations (“CLOs”), and credit risk transfer securities. The Fund considers debt securities to be investment grade if, at the time of investment, they are rated within the four highest categories by at least one independent credit rating agency or, if unrated, are determined by the Portfolio Managers to be of comparable quality.
The Portfolio Managers monitor trends in the corporate and government securities markets, as well as a range of economic and financial factors utilizing internally generated data that are produced by specialty sector investment teams in conjunction with asset allocation tools. If particular sectors of the bond market appear relatively inexpensive, the Portfolio Managers may increase the Fund’s exposure in those sectors and decrease exposure in other sectors. The Portfolio Managers look for securities that appear under-priced compared to securities of similar structure and credit quality. The Fund may sell securities if the Portfolio Managers find an opportunity they believe is more compelling or if the Portfolio Managers’ outlook on the investment or the market changes.
To enhance yield and add diversification, the Fund may invest up to 20% of its net assets in securities that are below investment grade (commonly known as “junk bonds”). In choosing lower-rated securities, the Portfolio Managers generally look for bonds from issuers whose financial health appears comparatively strong, and that may have their credit ratings raised. The Fund does not normally invest in or continue to hold securities that are in default or have defaulted with respect to the payment of interest or repayment of principal, but may do so depending on market or other conditions.
The Fund may invest in foreign securities, including obligations of issuers in emerging market countries, denominated in any currency, but the Fund normally will not invest more than 20% of its total assets at the time of investment in non-US dollar denominated securities. The Fund considers emerging market countries to be countries included in the JPMorgan Emerging Markets Bond Index - Global Diversified, the JPMorgan Corporate Emerging Markets Bond Index - Diversified, the JPMorgan Emerging Local Markets Index or the JPMorgan Government Bond Index - Emerging Markets Global Diversified, as well as those countries which are not defined as High Income Organization for Economic Cooperation and Development (OECD) member countries by the World Bank.
The Fund may also invest in derivative instruments as a means of hedging risk and/or for investment or efficient portfolio management purposes, which may include altering the Fund’s exposure to interest rates, currencies, sectors and individual issuers. These derivative instruments may include futures, forward foreign currency contracts, and swaps.
The Fund may also invest a significant amount of its assets in U.S. Treasury securities or other money market instruments depending on market conditions. Additionally, the Fund may invest in restricted securities. The Fund may also engage in when-issued and forward-settling securities (such as to-be-announced (“TBA”) mortgage-backed securities), which involve a commitment by the Fund to purchase securities that will be issued or settled at a later date.
The Fund seeks to reduce credit risk by diversifying among many issuers and different types of securities. As part of the investment process, the Portfolio Managers analyze individual issues (including an analysis of cash flows, ability to pay principal and interest, balance sheet composition, and market positioning). As part of their fundamental investment analysis the Portfolio Managers consider Environmental, Social and Governance (ESG) factors they believe are financially material to individual investments, where applicable, as described below. While this analysis is inherently subjective and may be informed by internally generated and third-party metrics, data and other information, the Portfolio Managers believe that the consideration of financially material ESG factors, alongside traditional financial metrics, may improve credit analysis, security selection, relative value analysis and enhance the Fund’s overall investment process. The specific ESG factors considered and scope and application of integration may vary depending on the specific investment and/or investment type. The consideration of ESG factors does not apply to certain instruments, such as certain derivative instruments, other registered investment companies, cash and cash equivalents. The consideration of ESG factors as part of the investment process does not mean that the Fund pursues a specific “impact” or “sustainable” investment strategy.
Although it may invest in securities of any maturity, the Fund normally seeks to maintain an average portfolio duration of three years or less.
The Fund may invest in other investment companies, including exchange-traded funds (“ETFs”), if the investment companies invest principally in the types of investments in which the Fund may invest directly.
In an effort to achieve its goal, the Fund may engage in frequent and active trading.
The Fund normally invests at least 80% of its net assets in bonds and other debt securities and other investment companies that provide investment exposure to such debt securities. The Fund will not alter this policy without providing shareholders at least 60 days’ notice. This test is applied at the time the Fund invests; later percentage changes caused by a change in Fund assets, market values or company circumstances will not require the Fund to dispose of a holding.
NSHLX - Performance
Return Ranking - Trailing
Period | NSHLX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | N/A | -0.8% | 12.9% | 9.70% |
1 Yr | N/A | 1.2% | 22.6% | 12.34% |
3 Yr | N/A* | -6.0% | 4.4% | 20.46% |
5 Yr | N/A* | -4.1% | 4.7% | 26.02% |
10 Yr | N/A* | -19.2% | 169.9% | 42.06% |
* Annualized
Return Ranking - Calendar
Period | NSHLX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | N/A | -1.6% | 7.6% | 77.34% |
2022 | N/A | -17.7% | -2.6% | 77.71% |
2021 | N/A | -4.0% | 4.4% | 72.83% |
2020 | N/A | -7.1% | 7.6% | 86.92% |
2019 | N/A | -2.3% | 9.3% | 84.20% |
Total Return Ranking - Trailing
Period | NSHLX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | N/A | -0.8% | 12.9% | 9.70% |
1 Yr | N/A | 1.2% | 22.6% | 12.34% |
3 Yr | N/A* | -6.0% | 4.4% | 20.46% |
5 Yr | N/A* | -4.1% | 4.7% | 26.02% |
10 Yr | N/A* | -19.2% | 169.9% | 42.06% |
* Annualized
Total Return Ranking - Calendar
Period | NSHLX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | N/A | 1.8% | 15.2% | 18.54% |
2022 | N/A | -17.3% | -1.3% | 40.76% |
2021 | N/A | -2.7% | 7.7% | 14.76% |
2020 | N/A | -2.4% | 14.5% | 51.91% |
2019 | N/A | 0.6% | 12.6% | 89.40% |
NSHLX - Holdings
Concentration Analysis
NSHLX | Category Low | Category High | NSHLX % Rank | |
---|---|---|---|---|
Net Assets | 171 M | 14.5 K | 57.3 B | 83.96% |
Number of Holdings | 353 | 2 | 9251 | 57.65% |
Net Assets in Top 10 | 27.7 M | 993 K | 6.33 B | 87.87% |
Weighting of Top 10 | 16.65% | 2.1% | 103.0% | 75.19% |
Top 10 Holdings
- State Street Institutional US Government Money Market Fund 4.46%
- RRX 3 Ltd 1.86%
- Oracle Corp 1.42%
- Freddie Mac Pool 1.41%
- Freddie Mac Pool 1.37%
- L3Harris Technologies Inc 1.26%
- Wells Fargo Co 1.24%
- Goldman Sachs Group Inc/The 1.22%
- Dominion Energy Inc 1.21%
- Warnermedia Holdings Inc 1.19%
Asset Allocation
Weighting | Return Low | Return High | NSHLX % Rank | |
---|---|---|---|---|
Bonds | 83.26% | 0.00% | 131.18% | 66.60% |
Other | 12.59% | -0.97% | 69.02% | 36.94% |
Cash | 4.46% | -20.59% | 55.85% | 38.43% |
Stocks | 0.00% | 0.00% | 99.97% | 58.21% |
Preferred Stocks | 0.00% | 0.00% | 22.27% | 52.24% |
Convertible Bonds | 0.00% | 0.00% | 27.71% | 23.93% |
Bond Sector Breakdown
Weighting | Return Low | Return High | NSHLX % Rank | |
---|---|---|---|---|
Cash & Equivalents | 4.46% | 0.00% | 55.85% | 35.45% |
Securitized | 0.00% | 0.00% | 97.27% | 33.83% |
Corporate | 0.00% | 0.00% | 100.00% | 57.20% |
Municipal | 0.00% | 0.00% | 17.46% | 73.46% |
Government | 0.00% | 0.00% | 73.63% | 28.41% |
Derivative | -0.14% | -0.33% | 28.32% | 92.54% |
Bond Geographic Breakdown
Weighting | Return Low | Return High | NSHLX % Rank | |
---|---|---|---|---|
US | 83.26% | 0.00% | 130.36% | 61.94% |
Non US | 0.00% | 0.00% | 82.77% | 52.99% |
NSHLX - Expenses
Operational Fees
NSHLX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 0.57% | 0.01% | 3.24% | 61.99% |
Management Fee | 0.32% | 0.00% | 1.19% | 51.12% |
12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
Administrative Fee | N/A | 0.01% | 0.41% | 75.91% |
Sales Fees
NSHLX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 0.50% | 5.75% | N/A |
Deferred Load | N/A | 0.50% | 4.00% | N/A |
Trading Fees
NSHLX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 1.00% | 2.00% | N/A |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
NSHLX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | N/A | 2.00% | 500.00% | 61.28% |
NSHLX - Distributions
Dividend Yield Analysis
NSHLX | Category Low | Category High | NSHLX % Rank | |
---|---|---|---|---|
Dividend Yield | 0.00% | 0.00% | 11.11% | 3.92% |
Dividend Distribution Analysis
NSHLX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Monthly | Monthly | Monthly | Monthly |
Net Income Ratio Analysis
NSHLX | Category Low | Category High | NSHLX % Rank | |
---|---|---|---|---|
Net Income Ratio | N/A | -1.27% | 4.98% | 4.20% |
Capital Gain Distribution Analysis
NSHLX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Apr 30, 2024 | $0.035 | OrdinaryDividend |
Mar 28, 2024 | $0.033 | OrdinaryDividend |
Feb 29, 2024 | $0.032 | OrdinaryDividend |
Jan 31, 2024 | $0.034 | OrdinaryDividend |
Dec 29, 2023 | $0.032 | OrdinaryDividend |
Nov 30, 2023 | $0.032 | OrdinaryDividend |
Oct 31, 2023 | $0.032 | OrdinaryDividend |
Sep 29, 2023 | $0.031 | OrdinaryDividend |
Aug 31, 2023 | $0.032 | OrdinaryDividend |
Jul 31, 2023 | $0.030 | OrdinaryDividend |
Jun 30, 2023 | $0.031 | OrdinaryDividend |
May 31, 2023 | $0.030 | OrdinaryDividend |
Apr 28, 2023 | $0.031 | OrdinaryDividend |
Mar 31, 2023 | $0.030 | OrdinaryDividend |
Feb 28, 2023 | $0.027 | OrdinaryDividend |
Jan 31, 2023 | $0.027 | OrdinaryDividend |
Dec 30, 2022 | $0.026 | OrdinaryDividend |
Nov 30, 2022 | $0.026 | OrdinaryDividend |
Oct 31, 2022 | $0.002 | ReturnOfCapital |
Oct 31, 2022 | $0.026 | OrdinaryDividend |
Sep 30, 2022 | $0.002 | ReturnOfCapital |
Sep 30, 2022 | $0.024 | OrdinaryDividend |
Aug 31, 2022 | $0.002 | ReturnOfCapital |
Aug 31, 2022 | $0.021 | OrdinaryDividend |
Jul 29, 2022 | $0.001 | ReturnOfCapital |
Jul 29, 2022 | $0.018 | OrdinaryDividend |
Jun 30, 2022 | $0.001 | ReturnOfCapital |
Jun 30, 2022 | $0.017 | OrdinaryDividend |
May 31, 2022 | $0.001 | ReturnOfCapital |
May 31, 2022 | $0.016 | OrdinaryDividend |
Apr 29, 2022 | $0.001 | ReturnOfCapital |
Apr 29, 2022 | $0.020 | OrdinaryDividend |
Mar 31, 2022 | $0.001 | ReturnOfCapital |
Mar 31, 2022 | $0.020 | OrdinaryDividend |
Feb 28, 2022 | $0.001 | ReturnOfCapital |
Feb 28, 2022 | $0.018 | OrdinaryDividend |
Jan 31, 2022 | $0.001 | ReturnOfCapital |
Jan 31, 2022 | $0.015 | OrdinaryDividend |
Dec 31, 2021 | $0.026 | OrdinaryDividend |
Nov 30, 2021 | $0.019 | OrdinaryDividend |
Oct 29, 2021 | $0.018 | OrdinaryDividend |
Sep 30, 2021 | $0.021 | OrdinaryDividend |
Aug 31, 2021 | $0.020 | OrdinaryDividend |
Jul 30, 2021 | $0.022 | OrdinaryDividend |
Jun 30, 2021 | $0.022 | OrdinaryDividend |
May 28, 2021 | $0.020 | OrdinaryDividend |
Apr 30, 2021 | $0.023 | OrdinaryDividend |
Mar 31, 2021 | $0.019 | OrdinaryDividend |
Feb 26, 2021 | $0.019 | OrdinaryDividend |
Jan 29, 2021 | $0.018 | OrdinaryDividend |
Dec 31, 2020 | $0.019 | OrdinaryDividend |
Nov 30, 2020 | $0.020 | OrdinaryDividend |
Oct 30, 2020 | $0.018 | OrdinaryDividend |
Sep 30, 2020 | $0.020 | OrdinaryDividend |
Aug 31, 2020 | $0.021 | OrdinaryDividend |
Jul 31, 2020 | $0.019 | OrdinaryDividend |
Jun 30, 2020 | $0.019 | OrdinaryDividend |
May 29, 2020 | $0.019 | OrdinaryDividend |
Apr 30, 2020 | $0.020 | OrdinaryDividend |
Mar 31, 2020 | $0.021 | OrdinaryDividend |
Feb 28, 2020 | $0.021 | OrdinaryDividend |
Jan 31, 2020 | $0.023 | OrdinaryDividend |
Dec 31, 2019 | $0.022 | OrdinaryDividend |
Nov 29, 2019 | $0.022 | OrdinaryDividend |
Oct 31, 2019 | $0.022 | OrdinaryDividend |
NSHLX - Fund Manager Analysis
Managers
Michael Foster
Start Date
Tenure
Tenure Rank
Feb 28, 2008
14.26
14.3%
Michael J. Foster, Managing Director, joined the firm in 1999. Mike is a Senior Portfolio Manager on multiple fixed income strategies, including Enhanced Cash and Short Duration, as well as high quality strategies across the yield curve. Prior to joining the firm, Mike worked in the Fixed Income division of Bear Stearns (1994-1997). Mike earned a BA from Lehigh University and a MBA from the University of Rochester, Simon Business School.
Matthew McGinnis
Start Date
Tenure
Tenure Rank
Feb 28, 2017
5.25
5.3%
Matthew McGinnis, Senior Vice President, joined the firm in 2008. Matt is a Portfolio Manager on the Enhanced Cash and Short Duration portfolio management teams. Prior to joining the team, Matt attended New York University’s Stern Undergraduate Business school where he received a BS in Finance and Economics.
Woolf Norman Milner
Start Date
Tenure
Tenure Rank
Feb 28, 2020
2.25
2.3%
Norman Milner is a Managing Director of Neuberger Berman Management LLC and NBFI. He joined the firms in 2015. Previously he was a co-founder and portfolio manager at another asset management firm since 2008.
David Brown
Start Date
Tenure
Tenure Rank
May 18, 2021
1.04
1.0%
David M. Brown, CFA, Managing Director, rejoined the firm in 2003. Dave is Global Co-Head of Investment Grade and acts as Senior Portfolio Manager on both Global Investment Grade and Multi-Sector Fixed Income strategies. He is a member of the Fixed Income Investment Strategy Committee and the Fixed Income Multi-Sector Group. Dave also leads the Investment Grade Credit team in determining credit exposures across both Global Investment Grade and Multi-Sector Fixed Income strategies. Dave initially joined the firm in 1991 after graduating from the University of Notre Dame with a BA in Government and subsequently received his MBA in Finance from Northwestern University. Prior to his return, he was a senior credit analyst at Zurich Scudder Investments and later a credit analyst and portfolio manager at Deerfield Capital. Dave has been awarded the Chartered Financial Analyst designation.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.07 | 28.77 | 6.16 | 2.41 |