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Trending ETFs

Name

As of 03/27/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$7.11

$165 M

5.13%

$0.37

0.81%

Vitals

YTD Return

1.3%

1 yr return

5.9%

3 Yr Avg Return

0.8%

5 Yr Avg Return

1.6%

Net Assets

$165 M

Holdings in Top 10

18.2%

52 WEEK LOW AND HIGH

$7.1
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.81%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 91.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$2,000

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 03/27/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$7.11

$165 M

5.13%

$0.37

0.81%

NSBIX - Profile

Distributions

  • YTD Total Return 1.3%
  • 3 Yr Annualized Total Return 0.8%
  • 5 Yr Annualized Total Return 1.6%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.34%
DIVIDENDS
  • Dividend Yield 5.1%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Neuberger Berman Short Duration Bond Fund
  • Fund Family Name
    Neuberger Berman
  • Inception Date
    Jun 01, 2009
  • Shares Outstanding
    N/A
  • Share Class
    Investor
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Michael 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.

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NSBIX - Performance

Return Ranking - Trailing

Period NSBIX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.3% -1.8% 9.2% 13.02%
1 Yr 5.9% -0.2% 24.4% 17.39%
3 Yr 0.8%* -5.9% 4.1% 27.14%
5 Yr 1.6%* -3.8% 4.4% 41.87%
10 Yr 1.3%* -19.2% 169.7% 60.98%

* Annualized

Return Ranking - Calendar

Period NSBIX Return Category Return Low Category Return High Rank in Category (%)
2023 1.0% -5.4% 7.6% 77.31%
2022 -8.2% -17.7% -2.6% 77.26%
2021 -2.0% -4.0% 4.4% 72.90%
2020 0.5% -8.3% 7.6% 86.91%
2019 1.3% -2.3% 9.3% 84.48%

Total Return Ranking - Trailing

Period NSBIX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.3% -1.8% 9.2% 13.02%
1 Yr 5.9% -0.2% 24.4% 17.39%
3 Yr 0.8%* -5.9% 4.1% 27.14%
5 Yr 1.6%* -3.8% 4.4% 41.87%
10 Yr 1.3%* -19.2% 169.7% 60.98%

* Annualized

Total Return Ranking - Calendar

Period NSBIX Return Category Return Low Category Return High Rank in Category (%)
2023 6.5% -1.1% 15.2% 23.23%
2022 -4.7% -17.3% -1.3% 45.47%
2021 1.2% -2.7% 7.7% 18.70%
2020 3.8% -4.4% 14.5% 61.91%
2019 3.3% 0.6% 12.6% 90.93%

NAV & Total Return History


NSBIX - Holdings

Concentration Analysis

NSBIX Category Low Category High NSBIX % Rank
Net Assets 165 M 14.1 K 58.8 B 82.59%
Number of Holdings 276 2 9721 68.76%
Net Assets in Top 10 30 M 1.16 M 6.6 B 85.82%
Weighting of Top 10 18.17% 1.8% 108.7% 67.68%

Top 10 Holdings

  1. State Street Institutional US Government Money Market Fund 5.41%
  2. RRX 3 Ltd 1.86%
  3. L3Harris Technologies Inc 1.77%
  4. Freddie Mac Pool 1.44%
  5. Freddie Mac Pool 1.43%
  6. Oracle Corp 1.40%
  7. Wells Fargo Co 1.24%
  8. Morgan Stanley 1.22%
  9. Warnermedia Holdings Inc 1.20%
  10. Dominion Energy Inc 1.19%

Asset Allocation

Weighting Return Low Return High NSBIX % Rank
Bonds
85.67% 0.00% 130.68% 54.40%
Other
9.05% -0.97% 72.36% 43.09%
Cash
5.41% -20.59% 62.18% 22.62%
Convertible Bonds
4.38% 0.00% 27.71% 24.28%
Stocks
0.00% 0.00% 103.64% 26.75%
Preferred Stocks
0.00% 0.00% 21.82% 15.80%

Bond Sector Breakdown

Weighting Return Low Return High NSBIX % Rank
Corporate
34.86% 0.00% 100.00% 57.73%
Government
32.57% 0.00% 73.63% 27.52%
Securitized
30.93% 0.00% 97.27% 33.99%
Cash & Equivalents
5.41% 0.00% 62.18% 22.26%
Derivative
0.16% -0.55% 24.84% 17.59%
Municipal
0.00% 0.00% 17.46% 54.14%

Bond Geographic Breakdown

Weighting Return Low Return High NSBIX % Rank
US
85.67% 0.00% 130.68% 49.91%
Non US
0.00% 0.00% 83.16% 22.26%

NSBIX - Expenses

Operational Fees

NSBIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.81% 0.01% 3.24% 37.68%
Management Fee 0.44% 0.00% 1.19% 80.07%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.27% 0.01% 0.50% 93.01%

Sales Fees

NSBIX 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

NSBIX 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.

NSBIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 91.00% 2.00% 500.00% 60.99%

NSBIX - Distributions

Dividend Yield Analysis

NSBIX Category Low Category High NSBIX % Rank
Dividend Yield 5.13% 0.00% 10.34% 5.57%

Dividend Distribution Analysis

NSBIX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Monthly Monthly Monthly

Net Income Ratio Analysis

NSBIX Category Low Category High NSBIX % Rank
Net Income Ratio 2.34% -1.27% 4.98% 7.52%

Capital Gain Distribution Analysis

NSBIX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Distributions History

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NSBIX - 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 6.13 2.41