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Name

As of 06/01/2026

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

Neuberger Berman High Income Bond Fund

NHIAX | Fund

$7.64

$446 M

6.07%

$0.46

1.11%

Vitals

YTD Return

1.2%

1 yr return

6.2%

3 Yr Avg Return

8.1%

5 Yr Avg Return

3.0%

Net Assets

$446 M

Holdings in Top 10

8.0%

52 WEEK LOW AND HIGH

$7.6
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.11%

SALES FEES

Front Load 4.25%

Deferred Load N/A

TRADING FEES

Turnover 98.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$1,000

IRA

N/A

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 06/01/2026

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

Neuberger Berman High Income Bond Fund

NHIAX | Fund

$7.64

$446 M

6.07%

$0.46

1.11%

NHIAX - Profile

Distributions

  • YTD Total Return 1.2%
  • 3 Yr Annualized Total Return 8.1%
  • 5 Yr Annualized Total Return 3.0%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 4.34%
DIVIDENDS
  • Dividend Yield 6.1%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Neuberger Berman High Income Bond Fund
  • Fund Family Name
    Neuberger Berman
  • Inception Date
    Jun 01, 2009
  • Shares Outstanding
    N/A
  • Share Class
    A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    William (Russ) Covode

Fund Description

To pursue its goal, the Fund normally invests mainly in a diversified portfolio of U.S. dollar-denominated, High-Yield Bonds (as defined below), with an emphasis on debt securities rated below investment grade (commonly called “junk bonds”). For purposes of this Fund, High-Yield Bonds are generally defined as those debt securities that, at the time of investment, are rated in the lowest investment grade category (BBB by S&P Global Ratings, Baa by Moody’s Investors Service, Inc. (“Moody’s”), or comparably rated by at least one independent credit rating agency) or lower or, if unrated, determined by the Portfolio Managers to be of comparable quality. The Fund may invest in floating rate senior secured loans issued in U.S. dollars by U.S. and foreign corporations, partnerships, and other business entities. The Fund considers floating rate senior secured loans to be High-Yield Bonds. The Fund may invest a significant amount of its assets in loans, including in participation interests in loans.
The Fund normally expects to have a weighted averaged maturity between five and ten years. The Fund endeavors to manage credit risk through disciplined credit analysis and diversification of credit quality. The Fund intends to opportunistically rotate quality and sector exposures throughout the credit cycle, maintaining a higher quality bias in High-Yield Bonds when the Portfolio Managers believe an economic downturn is underway and increasing lower quality holdings of High-Yield Bonds when the Portfolio Managers believe an economic expansion is underway. With regard to interest rate risk, the Portfolio Managers are
sensitive to the overall duration of the portfolio in relation to its benchmark and evaluate the impact on overall duration of potential new portfolio acquisitions in conjunction with their credit analysis. The Fund invests its assets in a broad range of issuers and industries.
The Portfolio Managers will seek positive returns through in-depth credit research utilizing proprietary analytics processes to assess the strength of a company’s credit profile, examples of which include but are not limited to: their ability to pay principal and interest, their cash flow and balance sheet composition, and their market position relative to competitors. As part of their fundamental investment analysis the Portfolio Managers consider environmental, social and governancefactors they believe are financially material to individual investments, where applicable. 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 environmental,social and governance factors, alongside traditional financial metrics, may improve credit analysis, security selection, relative value analysis and enhance the Fund’s overall investment process. As part of this analysis, the Portfolio Managers also regularly engage with the management teams of issuers on issues that the Portfolio Managers believe are material to the credit risk of an issuer. The specific environmental,social and governance factors considered and scope and application of integration may vary depending on the specific investment and/or investment type. The consideration of environmental,social and governance factors does not apply to certain instruments, such as certain derivative instruments, other registered investment companies, cash and cash equivalents. The consideration of environmental,social and governance factors as part of the investment process does not mean that the Fund pursues a specific “impact” or “sustainable” investment strategy.
In addition, the Portfolio Managers analyze and adjust weightings based on general and sector-specific economic and market conditions, while seeking to diversify across industries, companies and investment size.
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 currencies, interest rates, inflation, sectors, industries and individual issuers. These derivative instruments may include futures, forward foreign currency contracts, and swaps, such as total return swaps, credit default swaps and interest rate swaps.
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.
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, company-specific or other conditions. The Fund may invest in or continue to hold securities that the Portfolio Managers believe have ratings or other factors that imply an imminent risk of default with respect to such payments. The Fund may also invest in restricted securities.
In an effort to achieve its goal, the Fund may engage in active and frequent trading. 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 net assets at the time of investment in non-U.S. dollar denominated securities.
The Fund normally invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in High-Yield Bonds (as defined above) and other investment companies that provide investment exposure to such bonds. 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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NHIAX - Performance

Return Ranking - Trailing

Period NHIAX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.2% -5.0% 8.8% 62.81%
1 Yr 6.2% -1.4% 24.8% 63.16%
3 Yr 8.1%* -0.8% 19.7% 51.14%
5 Yr 3.0%* -3.9% 14.4% 81.16%
10 Yr 4.3%* 1.0% 20.9% 78.09%

* Annualized

Return Ranking - Calendar

Period NHIAX Return Category Return Low Category Return High Rank in Category (%)
2025 1.6% -9.4% 9.7% 50.00%
2024 0.8% -25.4% 11.8% 48.95%
2023 4.1% -4.7% 12.2% 73.46%
2022 -16.6% -33.4% 3.6% 69.40%
2021 -0.3% -8.4% 9.8% 64.23%

Total Return Ranking - Trailing

Period NHIAX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.2% -5.0% 8.8% 62.81%
1 Yr 6.2% -1.4% 24.8% 63.16%
3 Yr 8.1%* -0.8% 19.7% 51.14%
5 Yr 3.0%* -3.9% 14.4% 81.16%
10 Yr 4.3%* 1.0% 20.9% 78.09%

* Annualized

Total Return Ranking - Calendar

Period NHIAX Return Category Return Low Category Return High Rank in Category (%)
2025 8.7% -2.1% 18.7% 44.39%
2024 8.2% -12.7% 18.9% 45.26%
2023 11.6% 3.5% 23.2% 66.08%
2022 -11.7% -29.1% 47.8% 74.38%
2021 4.5% -2.8% 16.2% 66.61%

NAV & Total Return History

NHIAX - Holdings

Concentration Analysis

NHIAX Category Low Category High NHIAX % Rank
Net Assets 446 M 3.13 M 31.3 B 65.26%
Number of Holdings 507 2 7288 34.74%
Net Assets in Top 10 38.2 M -492 M 6.47 B 78.31%
Weighting of Top 10 7.98% 4.3% 144.4% 91.18%

Top 10 Holdings

  1. State Street Institutional US Government Money Market Fund 2.88%
  2. 1261229 BC Ltd 0.69%
  3. Tenet Healthcare Corp 0.62%
  4. Carnival Corp 0.61%
  5. Mineral Resources Ltd 0.58%
  6. Mauser Packaging Solutions Holding Co 0.54%
  7. Madison IAQ LLC 0.54%
  8. Viking Cruises Ltd 0.51%
  9. XPO Inc 0.51%
  10. Quikrete Holdings Inc 0.50%

Asset Allocation

Weighting Return Low Return High NHIAX % Rank
Bonds 		96.80% 0.00% 145.36% 22.28%
Cash 		3.13% -52.00% 48.62% 69.66%
Convertible Bonds 		0.52% 0.00% 17.89% 77.07%
Stocks 		0.06% 0.00% 99.76% 68.95%
Preferred Stocks 		0.00% 0.00% 4.59% 88.54%
Other 		0.00% -39.08% 96.21% 75.84%

Bond Sector Breakdown

Weighting Return Low Return High NHIAX % Rank
Corporate 		90.54% 0.00% 100.00% 78.98%
Securitized 		4.20% 0.00% 97.24% 12.72%
Cash & Equivalents 		2.88% 0.00% 48.62% 60.14%
Derivative 		0.00% -20.24% 42.26% 69.49%
Municipal 		0.00% 0.00% 1.17% 80.57%
Government 		0.00% 0.00% 99.07% 86.40%

Bond Geographic Breakdown

Weighting Return Low Return High NHIAX % Rank
US 		96.80% 0.00% 126.57% 16.58%
Non US 		0.00% 0.00% 60.71% 87.65%

NHIAX - Expenses

Operational Fees

NHIAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.11% 0.04% 25.46% 35.68%
Management Fee 0.75% 0.00% 1.75% 91.92%
12b-1 Fee 0.25% 0.00% 1.00% 50.71%
Administrative Fee 0.27% 0.00% 0.50% 90.96%

Sales Fees

NHIAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 4.25% 2.25% 5.75% 47.25%
Deferred Load N/A 1.00% 4.00% N/A

Trading Fees

NHIAX 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.

NHIAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 98.00% 1.00% 255.00% 87.38%

NHIAX - Distributions

Dividend Yield Analysis

NHIAX Category Low Category High NHIAX % Rank
Dividend Yield 6.07% 0.00% 11.76% 34.33%

Dividend Distribution Analysis

NHIAX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Quarterly Monthly Monthly

Net Income Ratio Analysis

NHIAX Category Low Category High NHIAX % Rank
Net Income Ratio 4.34% -2.39% 9.30% 52.86%

Capital Gain Distribution Analysis

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

Distributions History

View More +

NHIAX - Fund Manager Analysis

Managers

William (Russ) Covode

Start Date

Tenure

Tenure Rank

Feb 28, 2011

11.26

11.3%

Russ Covode, Managing Director, joined the firm in 2004. Russ serves as a Senior Portfolio Manager for high yield and blended credit portfolios. In addition, he sits on the Credit Committee for high yield bonds and senior floating rate loans. Prior to joining the firm, Russ spent five years at Banc One Capital Markets, where he was most recently a principal in the bank’s mezzanine fund. Before that, he spent seven years with the high yield group at Banc of America Securities in various positions including leading the bank’s high yield capital markets desk. Russ began his career with S.G. Warburg & Co. in New York. Russ earned a BA from Colorado College and an MBA from the University of Chicago.

Daniel Doyle

Start Date

Tenure

Tenure Rank

Feb 28, 2014

8.26

8.3%

Daniel Doyle, CFA, Managing Director, joined the firm in 2012. Dan serves as a Senior Portfolio Manager for non-investment grade credit portfolios. In addition, he sits on the Credit Committee for high yield bonds and senior floating rate loans. Prior to joining the firm, Dan was a managing director at SunTrust Robinson Humphrey, specializing in high yield sales. He was also a portfolio manager at various firms, including Henderson Global Investors, ING Investment Management and Zurich Scudder Investments. Dan began his career at the Federal Reserve Bank of Chicago. Dan earned a BS from Northern Illinois University and an MBA from the University of Chicago. He has also been awarded the Chartered Financial Analyst designation.

Joseph Lind

Start Date

Tenure

Tenure Rank

Jul 30, 2018

3.84

3.8%

Joseph Lind, CFA, is a Managing Director of Neuberger Berman Investment Advisers LLC. He is Co-Head of U.S. High Yield. Prior to joining the firm in 2018, he served as a high yield strategy portfolio manager at DDJ Capital Management from 2012 to 2018. Previously, Mr. Lind served as a research analyst responsible for sourcing investments in the energy and equipment rental industries across all of the Adviser’s investment strategies. Mr. Lind originally joined the Adviser in 2006. Prior to joining theDDJ Capital Management , from 2004-2006 Mr. Lind served as a senior research analyst at Coast Asset Management, where he was responsible for identifying investment opportunities for a special situations hedge fund. Prior to joining Coast Asset Management, Mr. Lind served as a research analyst at Sierra Capital from 2000-2004. Mr. Lind received his Bachelor of Arts degree from Harvard University and is a CFA charter holder.

Christopher Kocinski

Start Date

Tenure

Tenure Rank

May 08, 2019

3.07

3.1%

Christopher Kocinski, CFA, Managing Director, joined the firm in 2006. Chris is a Senior Portfolio Manager for Non-Investment Grade Credit focusing on U.S. high yield portfolios. In addition, he is a member of the Credit Committee for Non-Investment Grade Credit as well as the firm’s ESG Advisory Committee. Previously, he was the Co-Director of Non-Investment Grade Credit Research and a Senior Research Analyst with a specific focus on the healthcare and gaming sectors. Prior to joining the firm, he was an investment banking analyst at Bank of America Securities. Chris earned a BA from the University of Chicago and has been awarded the Chartered Financial Analyst designation.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.13 37.79 7.49 4.25

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