Share-split context: A minor share adjustment was recorded on Mar 23, 2026 with coefficient 1.005. Current price-return figures are already normalized to the current share basis.

Neuberger Berman High Yield Strategies Fund (NHS)

The Neuberger Berman High Yield Strategies Fund (NHS) is an ETF designed to provide income through high-yield strategies. It is characterized by a very high distribution yield, though it has recently experienced a significant decline in share price.

What the Numbers Show

The share price of NHS is $5.39 as of October 7, 2026. The fund has seen a decline in its share price across several timeframes:

• Year-to-Date (YTD) Price Return: -27.19%

• One-Year Price Return: -26.20%

• Three-Year Price Return: -26.80%

When looking at total return (which includes distributions), the numbers are different. The one-year total return is -13.20%, and the YTD total return is -17.50%. Over three years, the total return is 13.75%.

The fund has a history of forward splits. Most recently, on March 23, 2026, a forward split occurred with a coefficient of 1.005. This was a minor share adjustment where each old share became slightly more new shares, and the price per share fell proportionally. This adjustment did not create a gain or loss for investors.

Income and Distribution Explanation

NHS pays distributions usually monthly, with 12 payments made over the last year. The distribution yield is approximately 20.15%, and trailing distributions totaled $1.09 per share.

It is important for beginners to know that a high distribution yield alone can be misleading. While the fund provides significant cash payments, these have not fully offset the decline in share price over the short term.

Price and NAV Erosion Explanation

The supplied data is sufficient to evaluate price erosion, but it does not include enough historical NAV-per-share data to confirm or rule out NAV erosion.

However, the data shows a severe erosion-risk flag. This warning was triggered because the fund has an erosion score of 30, which is labeled as "significant price erosion." This means the share price has deteriorated substantially.

Pros

• High Income: The fund offers a very high distribution yield of 20.15%.

• Frequent Payments: It provides regular monthly cash distributions.

• Long-term Total Return: The three-year total return is positive at 13.75%.

Cons

• Price Decline: The share price has dropped significantly over the last year and year-to-date.

• Erosion Risk: The fund has a severe erosion-risk flag and a "significant" price erosion label.

• Negative Short-term Total Return: Despite the high yield, the one-year total return is negative.

Beginner Takeaway

NHS is a high-income ETF that pays out a large amount of cash to investors monthly. However, the share price has fallen sharply recently. Income investors generally care about "principal stability," which means they want the original money they invested to stay intact. In this case, the high distributions have been accompanied by a significant decline in the share price.