NFAAX Performance — Neuberger Berman Focus Fund, Class A
Data updated: 2026-07-27
NFAAX returned +6.57% year to date and +22.96% over one year to May 2026. Annualised returns are +20.30% over 3 years and +7.49% over 5 years. The fund beat its Global Large Value category average: $100 invested three years ago grew to $174, against $165 for the category, and to $123 over one year, against $121. Volatility over the past three years was 14.69% a year. In the 12 months to May 2026 the fund took in a net $5.9M, and assets reached $830.37M.
NFAAX Growth of $100
What $100 invested in Neuberger Berman Focus Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the Global Large Value category average over the same months.
| Period | NFAAX | Category average |
|---|---|---|
| 1 year (Jun 2025 – May 2026) | $123 | $121 |
| 3 years (Jun 2023 – May 2026) | $174 | $165 |
| 5 years (Jun 2021 – May 2026) | $144 | $159 |
| Since data start (Sep 2019 – May 2026) | $217 | $211 |
NFAAX Trailing Returns
Total returns to May 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +6.57% |
| 1 year | +22.96% |
| 3 years (annualised) | +20.30% |
| 5 years (annualised) | +7.49% |
NFAAX Annual Returns
Calendar-year total returns of Neuberger Berman Focus Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–May) | +6.57% |
| 2025 | +21.09% |
| 2024 | +21.35% |
| 2023 | +23.55% |
| 2022 | −31.90% |
| 2021 | +19.95% |
| 2020 | +24.21% |
| 2019 (Sep–Dec) | +10.70% |
NFAAX Monthly Returns
Monthly total returns as reported on SEC Form N-PORT.
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | +0.1% | −1.1% | −7.5% | +10.1% | +5.8% | — | — | — | — | — | — | — |
| 2025 | +5.5% | −0.5% | −7.5% | +0.9% | +7.1% | +8.2% | +1.8% | 0.0% | +2.5% | +3.2% | −1.7% | +0.7% |
| 2024 | +3.0% | +5.0% | +2.5% | −4.4% | +4.7% | +3.0% | −0.2% | +3.5% | +2.1% | −1.1% | +4.3% | −2.5% |
| 2023 | +8.3% | −1.6% | +3.8% | +1.8% | −1.4% | +5.0% | +1.4% | −2.3% | −4.8% | −1.6% | +9.7% | +4.0% |
| 2022 | −12.0% | −4.4% | +0.9% | −10.4% | −2.0% | −9.0% | +8.6% | −4.0% | −9.2% | +5.9% | +5.6% | −4.9% |
| 2021 | −2.5% | +4.4% | +0.9% | +6.1% | +1.1% | +3.5% | +2.4% | +3.4% | −6.2% | +6.9% | −2.0% | +1.2% |
| 2020 | +0.6% | −5.4% | −13.7% | +10.8% | +7.5% | +3.2% | +5.8% | +6.4% | −1.1% | −3.8% | +9.7% | +4.6% |
| 2019 | — | — | — | — | — | — | — | — | +2.0% | +2.1% | +3.4% | +2.9% |
NFAAX Risk
Risk measures from monthly returns over Jun 2023 – May 2026.
- 3-year volatility (annualised): 14.69%
- 3-year Sharpe ratio: 1.08 (vs 4.5% risk-free rate)
- Best month: +10.06% (Apr 2026)
- Worst month: −7.55% (Mar 2025)
NFAAX Fund Flows
Monthly money in and out of Neuberger Berman Focus Fund, from SEC Form N-PORT.
- 12-month net flow: $5.9M
- 12-month gross sales (incl. reinvestments): $222.0M
- Sales ÷ redemptions: 1.03×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| May 2026 | $33.6M | $38.7M | −$5.1M |
| Apr 2026 | $326K | $6.3M | −$5.9M |
| Mar 2026 | $39.2M | $42.9M | −$3.7M |
| Feb 2026 | $523K | $5.1M | −$4.6M |
| Jan 2026 | $548K | $9.3M | −$8.8M |
| Dec 2025 | $68.0M | $11.5M | $56.5M |
| Nov 2025 | $40.0M | $41.6M | −$1.6M |
| Oct 2025 | $920K | $5.9M | −$5.0M |
| Sep 2025 | $761K | $4.0M | −$3.3M |
| Aug 2025 | $889K | $4.1M | −$3.2M |
| Jul 2025 | $36.7M | $41.5M | −$4.8M |
| Jun 2025 | $564K | $5.2M | −$4.7M |
NFAAX Assets Under Management
Net assets of Neuberger Berman Focus Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-05-31 | $830.37M |
| 2026-02-28 | $786.25M |
| 2025-11-30 | $817.83M |
| 2025-08-31 | $796.16M |
| 2025-05-31 | $733.96M |
| 2025-02-28 | $747.13M |
| 2024-11-30 | $745.34M |
| 2024-08-31 | $719.05M |
| 2024-05-31 | $687.89M |
| 2024-02-29 | $683.03M |
| 2023-11-30 | $625.65M |
| 2023-08-31 | $620.50M |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.