NBH vs HAWX

Comparison between Neuberger Berman Municipal Fund Inc (NBH, ETF) and ISHARES CURRENCY HEDGED MSCI ACWI EX U.S. ETF (HAWX, ETF).

5-Year PerformanceHAWX has outperformed NBH, delivering a return of +12.1% compared to -3.2%

NBH vs HAWX - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	NBH(ETF)	HAWX(ETF)
Net Assets	$333M	$332M
Expense Ratio	N/A	0.35%
Max Drawdown	49.69%	30.63%
Sharpe Ratio	0.77	1.81
5Y Beta	0.21	0.69
5Y Dividends CAGR	-1.21%	7.53%

Net Assets

Winner

NBH

$333M

HAWX

$332M

Expense Ratio

NBH

N/A

HAWX

0.35%

Max Drawdown

NBH

49.69%

Winner

HAWX

30.63%

Sharpe Ratio

NBH

0.77

Winner

HAWX

1.81

5Y Beta

Winner

NBH

0.21

HAWX

0.69

5Y Dividends CAGR

NBH

-1.21%

Winner

HAWX

7.53%

NBH vs HAWX - Historical Returns

Returns include dividend reinvestment.

Period	NBH	HAWX
1 month	-0.07%	+1.56%
3 months	+0.22%	+7.40%
6 months	+2.50%	+13.96%
1 year	+10.92%	+30.91%
5 years(CAGR)	-3.22%	+12.09%
10 years(CAGR)	+0.61%	+11.70%
Max(CAGR)	+3.91%	+9.85%

NBH

-0.07%

Winner

HAWX

+1.56%

NBH

+0.22%

Winner

HAWX

+7.40%

NBH

+2.50%

Winner

HAWX

+13.96%

NBH

+10.92%

Winner

HAWX

+30.91%

5Y(CAGR)

NBH

-3.22%

Winner

HAWX

+12.09%

10Y(CAGR)

NBH

+0.61%

Winner

HAWX

+11.70%

Max(CAGR)

NBH

+3.91%

Winner

HAWX

+9.85%

NBH vs HAWX - Annual Returns (2002 - 2026)

Returns include dividend reinvestment.

Year	NBH	HAWX
2026	+3.56%	+10.84%
2025	+3.72%	+26.15%
2024	+5.10%	+15.37%
2023	+2.61%	+15.51%
2022	-28.53%	-9.23%
2021	+4.67%	+12.76%
2020	+4.47%	+5.43%
2019	+25.05%	+22.53%
2018	-9.40%	-10.09%
2017	-2.94%	+17.53%
2016	+9.20%	+9.29%
2015	+7.37%	-6.70%
2014	+17.41%	N/A
2013	-9.28%	N/A
2012	+6.63%	N/A
2011	+21.40%	N/A
2010	+10.30%	N/A
2009	+22.48%	N/A
2008	-8.12%	N/A
2007	-1.92%	N/A
2006	+9.24%	N/A
2005	+7.01%	N/A
2004	+2.11%	N/A
2003	+5.39%	N/A
2002	-9.14%	N/A

NBH vs HAWX Drawdown Comparison

The maximum drawdown for NBH was -43.50%, occurring on Oct 25, 2023. This drawdown has not yet recovered.

The maximum drawdown for HAWX was -30.63%, occurring on Mar 16, 2020. Recovery took 210 trading sessions.

The current NBH drawdown is -23.68%. The current HAWX drawdown is -3.67%.

Rank	NBH	HAWX
#1	-43.50% Aug 27, 2021 - Oct 25, 2023	-30.63% Jan 17, 2020 - Nov 16, 2020
#2	-32.21% Feb 25, 2020 - Jan 11, 2021	-19.32% Jul 15, 2015 - Jan 4, 2017
#3	-26.07% Jan 16, 2008 - Jan 5, 2009	-17.46% Nov 16, 2021 - Jun 13, 2023
#4	-21.60% Nov 23, 2012 - Dec 4, 2014	-15.51% Jan 26, 2018 - May 3, 2019
#5	-18.63% Aug 23, 2016 - Jul 17, 2019	-13.30% Mar 19, 2025 - May 12, 2025
#6	-16.00% Mar 17, 2004 - Jun 16, 2005	-9.39% Feb 25, 2026 - Apr 17, 2026
#7	-13.79% Nov 1, 2002 - May 8, 2003	-9.17% Jul 12, 2024 - Sep 26, 2024
#8	-12.64% Jul 3, 2003 - Feb 27, 2004	-8.09% Jul 31, 2023 - Dec 13, 2023
#9	-12.16% Oct 26, 2010 - Aug 17, 2011	-6.56% Jul 24, 2019 - Sep 13, 2019
#10	-10.82% Jan 5, 2009 - May 19, 2009	-5.37% May 3, 2019 - Jul 2, 2019
#11	-8.96% Sep 27, 2006 - Jan 14, 2008	-5.10% Sep 7, 2021 - Nov 4, 2021
#12	-8.21% Feb 24, 2012 - Mar 30, 2012	-4.21% Nov 12, 2025 - Dec 19, 2025
#13	-7.71% Aug 2, 2012 - Sep 17, 2012	-3.85% Feb 16, 2021 - Apr 1, 2021
#14	-7.43% Jan 28, 2015 - Oct 6, 2015	-3.83% Jan 21, 2021 - Feb 5, 2021
#15	-7.39% Feb 9, 2021 - Apr 15, 2021	-3.67% Jun 2, 2026 - Jun 5, 2026

Correlation

Correlation between NBH and HAWX is 0.10 which considered as a very weak or no correlation - the stocks move independently of each other.

0.10

-101

Dividend Comparison (2002 - 2026)

NBH vs HAWX dividend yield comparison.

Year	NBH	HAWX
2026	2.65%	0.00%
2025	6.43%	2.80%
2024	5.33%	3.31%
2023	4.49%	2.95%
2022	6.14%	16.94%
2021	4.89%	2.63%
2020	4.93%	2.00%
2019	4.86%	3.23%
2018	6.04%	2.51%
2017	5.53%	2.40%
2016	5.54%	2.49%
2015	5.73%	3.86%
2014	5.47%	0.00%
2013	5.98%	0.00%
2012	4.76%	0.00%
2011	5.28%	0.00%
2010	6.00%	0.00%
2009	5.18%	0.00%
2008	5.73%	0.00%
2007	5.15%	0.00%
2006	5.73%	0.00%
2005	5.99%	0.00%
2004	6.07%	0.00%
2003	5.89%	0.00%
2002	0.98%	0.00%