Fund Evaluator:
Neuberger M/C Intrinsic Val R3 (NBRRX)
Follow This Fund
Best Performing in Mid-Cap Value Over the Last Year
| 40.0% | Fidelity Value Strategies (FSLSX) |
| 39.4% | Fidelity Advisor Mid Cap Value Z (FIDFX) |
| 39.2% | Fidelity Mid Cap Value (FSMVX) |
| 35.7% | Fidelity Advisor Value Z (FVLZX) |
| 35.5% | Fidelity Value (FDVLX) |
Fund Details
Neuberger M/C Intrinsic Val R3 Overview
Neuberger M/C Intrinsic Val R3 (NBRRX) is an actively managed U.S. Equity Mid-Cap Value fund. Neuberger Berman launched the fund in 2010.
The investment seeks growth of capital. To pursue its goal, the fund normally invests at least 80% of its net assets in equity securities of mid-capitalization companies, which the adviser defines as those with a total market capitalization within the market capitalization range of the Russell Midcap® Value Index at the time of purchase. The fund's strategy consists of using a bottom-up, fundamental research driven approach to identify stocks of companies that are trading below the Portfolio Managers' estimate of their intrinsic value and that they believe have the potential for appreciation over time.
About Neuberger M/C Intrinsic Val R3 (NBRRX)
There are 5 members of the management team with an average tenure of 3.64 years: Amit Solomon (2021), James McAree (2021), Rand Gesing (2021), Scott Hoina (2024), Kenney Oh (2025). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: Russell 3000 TR USD index with a weighting of 100% and Russell Mid Cap Value TR USD index with a weighting of 100%. Neuberger M/C Intrinsic Val R3 has 79 securities in its portfolio. The top 10 holdings constitute 24.1% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
Neuberger M/C Intrinsic Val R3 is part of the Equity global asset class and is within the U.S. Equity fund group. Neuberger M/C Intrinsic Val R3 has 2.4% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 97.5%. There is 2.4% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Neuberger M/C Intrinsic Val R3 has 0.1% of the portfolio in cash.
Assets Under Management
The fund has $372 million in total assets, which is below the $647 million average for the Mid-Cap Value category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
NBRRX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Neuberger M/C Intrinsic Val R3 expense ratio is high compared to funds in the Mid-Cap Value category. Neuberger M/C Intrinsic Val R3 has an expense ratio of 1.46%, which is 41% higher than its category average, making the fund expense ratio grade a F. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Neuberger M/C Intrinsic Val R3 has a portfolio turnover rate of 16%, indicating that holds its assets around 0.1 years. By way of comparison, the average portfolio turnover is 50% for the Mid-Cap Value category.
Recently, in the month of June 2026, Neuberger M/C Intrinsic Val R3 returned 2.7%, which earned it a grade of D, as the Mid-Cap Value category had an average return of 3.2%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
Neuberger M/C Intrinsic Val R3 has a trailing yield of 0.36%, which is below the 0.90% category average. The fund normally distributes its income annually and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Neuberger M/C Intrinsic Val R3 Grades
Year to date, the fund has returned 15.7%, 1.9 percentage points better than the category, which translates into a grade of B. The fund has returned 30.5% over the past year (grade of B), 14.1% over the past three years (grade of C) and 7.6% per year over the past five years (grade of D) and 8.3% per year over the past 10 years (grade of F).
For more mutual fund grades, analysis and screening tools to help your investment discovery, join AAII for a $2, full-access trial. Learn more here: https://invest.aaii.com/membership.
Otherwise, for more information about Neuberger M/C Intrinsic Val R3, including its riskiness, submit your email to unlock the rest of the article.
Gain access to exclusive AAII member-only content.
NBRRX Trailing NAV Total Returns Data as of 6/30/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| NBRRX Return (NAV) | 2.7% | 15.8% | 30.5% | 14.1% | 7.6% | 8.3% |
| NBRRX Grade | D | A | B | C | D | F |
| +/- Category | -0.5% | 4.3% | 7.9% | -0.3% | -1.4% | -2.1% |
| Mid-Cap Value Avg | 3.2% | 11.5% | 22.6% | 14.4% | 9.0% | 10.4% |
| NBRRX Tax Cost Ratio | na | na | 2.4% | 1.4% | 0.9% | 0.9% |
NBRRX Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| NBRRX Return (NAV) | 15.7% | 10.6% | 8.5% | 10.5% | -10.2% | 31.9% | -4.5% | 16.8% | -15.0% | 16.2% | 17.8% |
| NBRRX Grade | B | C | F | D | D | B | F | F | D | B | C |
| +/- Category | 1.9% | 0.7% | -3.2% | -3.3% | -2.0% | 4.4% | -8.3% | -9.5% | -1.7% | 2.0% | 0.4% |
| Mid-Cap Value Avg | 13.8% | 9.9% | 11.8% | 13.9% | -8.2% | 27.5% | 3.8% | 26.3% | -13.4% | 14.1% | 17.4% |
| Risk Measures | |
| Standard Deviation: | 14.6% |
| Total Risk Index: | 1.20 - Above Average |
| Category Risk Index: | 0.99 - Average |
| Category Risk Grade: | C (57% Rank) |
| Beta: | 0.95 |
| R-Squared: | 72% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Mid-Cap Blend |
| Bond Investment Style: | na |
| Yield: | 0.4% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $55 Mil |
| Fund Total Assets: | $ 0 Mil |
| Share Class Type: | Retirement |
| Portfolio Turnover: | 16% |
Management Team
| Number of Managers: 5 | |||
| Longest Tenure: 5.2 years | |||
| Average Tenure: 3.6 years | |||
| Managers (Year): Solomon Amit (2021), McAree James (2021), Gesing Rand (2021), Hoina Scott (2024), Oh Kenney (2025) | |||
Portfolio Composition (as of 5/31/26)
| # of Holdings: | 79 |
| % in Top 10 Holdings: | 24.1% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 2.4% |
Portfolio Allocation |
|
| Domestic Stock: | 97.5% |
| Foreign Stock: | 2.4% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 0.1% |
Purchase Information
| Fund Family: | Neuberger Berman |
| Phone Number: | 877-628-2583 |
| Website: | www.nb.com |
| Status: | Open |
| Inception Date: | June 21, 2010 |
| Min. Initial Purchase: | $ 0 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | No |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | 0.50% |
Expenses and Fees | |
| Expense Ratio (%): | 1.46% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.03% |
| Share Class: | Neuberger M/C Intrinsic Val Inv |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
