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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 Strategic Income Fund

NSTTX | Fund

$10.07

$8.08 B

5.25%

$0.53

1.01%

Vitals

YTD Return

0.7%

1 yr return

5.9%

3 Yr Avg Return

6.8%

5 Yr Avg Return

2.6%

Net Assets

$8.08 B

Holdings in Top 10

22.2%

52 WEEK LOW AND HIGH

$10.1
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.01%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 114.00%

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 Strategic Income Fund

NSTTX | Fund

$10.07

$8.08 B

5.25%

$0.53

1.01%

NSTTX - Profile

Distributions

  • YTD Total Return 0.7%
  • 3 Yr Annualized Total Return 6.8%
  • 5 Yr Annualized Total Return 2.6%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.88%
DIVIDENDS
  • Dividend Yield 5.2%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Neuberger Berman Strategic Income Fund
  • Fund Family Name
    Neuberger Berman
  • Inception Date
    Jun 01, 2009
  • Shares Outstanding
    N/A
  • Share Class
    T
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Bradley Tank

Fund Description

To pursue its goal, the Fund invests primarily in a diversified mix of debt securities. The Fund may invest in a broad array of securities, including: securities issued or guaranteed as to principal or interest by the U.S. government or any of its agencies or instrumentalities; inflation-linked debt securities; municipal securities; foreign securities, including emerging markets; corporate bonds; commercial paper; mortgage-backed and other asset-backed securities; and loans. Securities in which the Fund may invest may be issued by domestic and foreign governments, supranational entities (e.g. World Bank, IMF), corporate entities and trusts and may be structured as fixed rate debt; floating rate debt; and debt that may not pay interest from the time of issuance.
While the Fund may invest in debt securities across the credit spectrum, including investment grade securities, below investment grade securities and unrated securities, and may invest without limit in below investment grade securities (commonly known as “junk bonds”), under normal market conditions, the Portfolio Managers anticipate that the Fund's overall average credit quality
will be investment grade. The Fund considers debt securities to be below investment grade if, at the time of investment, they are rated below 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 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 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 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 and individual issuers. These derivative instruments may include futures, forwards, including forward foreign currency contracts, and swaps, such as total return swaps, credit default swaps and interest rate swaps, options on futures and options on interest rate swaps, otherwise known as swaptions.
While the fund may invest without limit in foreign securities, the Fund will invest primarily in debt securities issued by U.S. issuers or by the U.S. government and any of its agencies. The Fund normally will not invest more than 30% of its total assets at the time of investment in obligations of issuers in emerging market countries. 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 a High Income Organization for Economic Cooperation and Development (OECD) member country by the World Bank.
Additionally, the Fund may invest in tender option bonds (which include inverse floaters created as part of tender option bond transactions), convertible securities, restricted securities and preferred 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 may enter into a TBA agreement and “roll over” such agreement prior to the settlement date by selling the obligation to purchase the securities set forth in the agreement and entering into a new TBA agreement for future delivery of pools of mortgage-backed securities. The Fund may also hold cash and short-term securities, including cash equivalents and other debt obligations.
The Fund may invest in debt securities of any maturity and while the Fund does not have a target average duration, under normal market conditions, the Portfolio Managers anticipate that the Fund's average duration will be between two and eight years. In an effort to achieve its goal, the Fund may engage in active and frequent trading.
Investment Philosophy and Process
The Portfolio Managers’ investment philosophy is rooted in the belief that positive results can be achieved through a consistently applied, risk-managed approach to portfolio management that leverages the strengths of its fundamental research capabilities, decision-making frameworks, and quantitative risk management tools. The Portfolio Managers employ an integrated investment process in managing the Fund.
■
Portfolio Strategy: The Portfolio Managers establish an asset allocation framework for the Fund which determines the specific sector allocations(e.g., high yield, investment grade,securitized assets, government, emerging markets debt, bank loans) for the Fundwith the objective of capturing the best relative value among different sectors. The inputs to the asset allocation framework include both quantitative and qualitative factors, including the macroeconomic viewsof the Portfolio Managers, current market conditions, the PortfolioManagers’ assessment of sector valuations, creditanalysis, duration/yield curve positioning, current exposures to sectors,countries and currencies,and the Portfolio Managers’assessment of macro opportunities.The Portfolio Managers’ asset allocation framework is dynamic and allocation adjustments are made by the Portfolio Managers’ based on an assessment of the changes in the quantitative and qualitative factors.
■
Strategy Implementation: Once the Portfolio Managers establish an asset allocation framework for the Fund, the Portfolio Managers select securities within each sector allocation by employing bottom-up security analysis utilizing the research generated by the internal credit research teams that are specialists in particular sectors based on, among other things, an analysis of cash flows, ability to pay principal and interest,balance sheet composition, and market positioning.
The investment process utilizes both third-party data as well as internally generated data, including those produced by internal credit research teams that are specialists in particular sectors. Research generated by the internal credit research teams is derived from a variety ofsources (e.g., financial and economic data,company discloseddata,market data, discussionswith company management). 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. 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.The Fund may purchase securities if the Portfolio Managers’ outlook suggests a security is undervalued and 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 (e.g. where the outlook suggests a security is overvalued by the market). The goal is to identify and evaluate investment opportunities that others may have missed.
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NSTTX - Performance

Return Ranking - Trailing

Period NSTTX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.7% -7.0% 6.4% 67.31%
1 Yr 5.9% -11.7% 19.2% 52.24%
3 Yr 6.8%* -6.0% 14.9% 50.64%
5 Yr 2.6%* -8.0% 12.2% 51.09%
10 Yr 3.6%* -1.0% 11.3% 49.63%

* Annualized

Return Ranking - Calendar

Period NSTTX Return Category Return Low Category Return High Rank in Category (%)
2025 3.5% -21.9% 12.9% 19.33%
2024 0.5% -17.6% 5.4% 46.65%
2023 4.0% -12.0% 8.9% 25.72%
2022 -15.0% -31.8% 18.4% 68.20%
2021 -3.2% -16.2% 25.7% 79.12%

Total Return Ranking - Trailing

Period NSTTX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.7% -7.0% 6.4% 67.31%
1 Yr 5.9% -11.7% 19.2% 52.24%
3 Yr 6.8%* -6.0% 14.9% 50.64%
5 Yr 2.6%* -8.0% 12.2% 51.09%
10 Yr 3.6%* -1.0% 11.3% 49.63%

* Annualized

Total Return Ranking - Calendar

Period NSTTX Return Category Return Low Category Return High Rank in Category (%)
2025 9.6% -9.2% 20.9% 20.13%
2024 6.1% -11.7% 18.6% 57.35%
2023 10.0% -6.5% 22.2% 25.24%
2022 -10.4% -23.0% 21.1% 60.82%
2021 2.9% -7.8% 49.9% 38.88%

NAV & Total Return History

NSTTX - Holdings

Concentration Analysis

NSTTX Category Low Category High NSTTX % Rank
Net Assets 8.08 B 2.65 M 226 B 12.34%
Number of Holdings 2722 4 10796 5.00%
Net Assets in Top 10 1.73 B -204 M 91.6 B 13.55%
Weighting of Top 10 22.17% 5.1% 105.1% 56.59%

Top 10 Holdings

  1. Uniform Mortgage-Backed Security, TBA 4.07%
  2. Uniform Mortgage-Backed Security, TBA 3.59%
  3. State Street Institutional US Government Money Market Fund 3.07%
  4. Uniform Mortgage-Backed Security, TBA 2.39%
  5. Uniform Mortgage-Backed Security, TBA 2.33%
  6. Uniform Mortgage-Backed Security, TBA 1.84%
  7. Uniform Mortgage-Backed Security, TBA 1.60%
  8. Ginnie Mae 1.36%
  9. Ginnie Mae 1.09%
  10. iShares iBoxx $ Investment Grade Corporate Bond ETF 0.82%

Asset Allocation

Weighting Return Low Return High NSTTX % Rank
Bonds 		103.66% -5.04% 180.51% 13.06%
Other 		8.19% -37.46% 104.06% 35.00%
Stocks 		3.34% -7.68% 100.00% 27.42%
Cash 		3.27% -94.66% 98.41% 52.26%
Convertible Bonds 		3.23% 0.00% 33.50% 29.35%
Preferred Stocks 		0.02% 0.00% 12.59% 48.87%

Stock Sector Breakdown

Weighting Return Low Return High NSTTX % Rank
Industrials 		100.00% 0.00% 100.00% 0.61%
Utilities 		0.00% 0.00% 100.00% 66.26%
Technology 		0.00% 0.00% 28.30% 60.18%
Real Estate 		0.00% 0.00% 100.00% 64.74%
Healthcare 		0.00% 0.00% 18.60% 60.79%
Financial Services 		0.00% 0.00% 100.00% 72.34%
Energy 		0.00% 0.00% 100.00% 85.11%
Communication Services 		0.00% 0.00% 100.00% 65.65%
Consumer Defense 		0.00% 0.00% 99.97% 60.79%
Consumer Cyclical 		0.00% 0.00% 33.03% 66.26%
Basic Materials 		0.00% 0.00% 47.39% 62.31%

Stock Geographic Breakdown

Weighting Return Low Return High NSTTX % Rank
US 		3.33% -7.68% 100.00% 25.48%
Non US 		0.01% -0.02% 23.24% 25.81%

Bond Sector Breakdown

Weighting Return Low Return High NSTTX % Rank
Corporate 		38.59% 0.00% 96.66% 46.33%
Securitized 		34.87% 0.00% 99.65% 24.50%
Government 		20.35% 0.00% 99.43% 31.33%
Cash & Equivalents 		3.27% 0.00% 98.41% 50.32%
Municipal 		1.63% 0.00% 54.26% 7.67%
Derivative 		-0.10% -29.08% 11.34% 72.33%

Bond Geographic Breakdown

Weighting Return Low Return High NSTTX % Rank
US 		92.25% -5.04% 162.24% 21.61%
Non US 		11.41% 0.00% 67.48% 31.13%

NSTTX - Expenses

Operational Fees

NSTTX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.01% 0.14% 9.86% 58.84%
Management Fee 0.80% 0.00% 2.29% 74.28%
12b-1 Fee 0.10% 0.00% 1.00% 19.02%
Administrative Fee 0.40% 0.00% 0.70% 89.37%

Sales Fees

NSTTX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.00% 5.75% N/A
Deferred Load N/A 1.00% 1.50% N/A

Trading Fees

NSTTX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.50% 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.

NSTTX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 114.00% 0.00% 632.00% 70.90%

NSTTX - Distributions

Dividend Yield Analysis

NSTTX Category Low Category High NSTTX % Rank
Dividend Yield 5.25% 0.00% 23.30% 82.93%

Dividend Distribution Analysis

NSTTX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Annually Monthly Monthly

Net Income Ratio Analysis

NSTTX Category Low Category High NSTTX % Rank
Net Income Ratio 2.88% -1.55% 11.51% 54.43%

Capital Gain Distribution Analysis

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

Distributions History

View More +

NSTTX - Fund Manager Analysis

Managers

Bradley Tank

Start Date

Tenure

Tenure Rank

Feb 28, 2008

14.26

14.3%

Brad C. Tank is a Managing Director of the Manager. He joined the firm in 2002 and is the Chief Investment Officer and Global Head of Fixed Income. He is a member of the firm’s Operating, Investment Risk, Asset Allocation and Fixed Income’s Investment Strategy Committees, and leads the Fixed Income Multi-Sector Group. He joined the firm after 23 years of experience in trading and asset management. From 2008 through 2015, Brad was Chief Investment Officer of Neuberger Berman’s Multi-Asset Class Investment business and remains an important member of that team along with the firm’s other CIOs. From 1990 to2002, Brad was director of fixed income for Strong Capital Management in Wisconsin. He was also a member of the Office of the CEO and headed institutional and intermediary distribution. In 1997, Brad was named “Runner Up” for Morningstar Mutual Fund Manager of the Year. From 1982 to 1990, he was a vice president at Salomon Brothers in the government, mortgage and financial institutions areas. Brad earned a BBA and an MBA from the University of Wisconsin.

Thanos Bardas

Start Date

Tenure

Tenure Rank

Apr 24, 2009

13.11

13.1%

Thanos Bardas, PhD, Managing Director, joined the firm in 1998. Thanos is the Head of Global Rates and serves as a Senior Portfolio Manager on Global Investment Grade and Multi-Sector Fixed income strategies. He sits on the firm’s Asset Allocation Committee and Fixed Income’s Investment Strategy Committee, and is a member of the Fixed Income Multi-Sector Group. Thanos also leads the Global Rates team in determining rates exposure across various portfolio strategies and oversees both inflation and LDI investments. Thanos graduated with honors from Aristotle University, Greece, earned his MS from the University of Crete, Greece, and holdsa PhD in Theoretical Physics from State University of New York at Stony Brook. He holds FINRA Series 7 and Series 66 licenses.

David Brown

Start Date

Tenure

Tenure Rank

Apr 24, 2009

13.11

13.1%

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.

Ashok Bhatia

Start Date

Tenure

Tenure Rank

Dec 07, 2017

4.48

4.5%

Ashok K. Bhatia, CFA, is a Managing Director of the Manager. He joined the firm in July 2017 and is the Deputy Chief Investment Officer of Fixed Income. He is a lead portfolio manager on multi-sector fixed income strategies and is also a member of the Multi-Asset Class portfolio management team, the Fixed Income Investment Strategy Committee and the firm’s Asset Allocation Committee. Previously, Ashok has held senior investment and leadership positions in several asset management firms and hedge funds, including Wells Fargo Asset Management, Balyasny Asset Management, and Stark Investments. Ashok has had investment responsibilities across global fixed income and currency markets. Ashok began his career in 1993 as an investment analyst at Morgan Stanley. Ashok received a BA with high honors in Economics from the University of Michigan, Ann Arbor, and an MBA with high honors from the University of Chicago. He has been awarded the Chartered Financial Analyst designation.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.02 28.19 5.66 3.19

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