Fund Evaluator:
Neuberger Quality Equity A (NRAAX)
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Fund Details
Neuberger Quality Equity A Overview
Neuberger Quality Equity A (NRAAX) is an actively managed U.S. Equity Large Blend fund. Neuberger Berman launched the fund in 2009.
The investment seeks long-term growth of capital by investing primarily in securities of companies that meet the fund's environmental, social and governance (ESG) criteria. To pursue its goal, the fund seeks to invest predominantly in common stocks of mid- to large-capitalization companies that the portfolio manager believes to be high-quality selected in accordance with the fund’s sustainable investing criteria. The fund is non-diversified.
About Neuberger Quality Equity A (NRAAX)
There are 1 members of the management team with an average tenure of 4.33 years: Daniel Hanson (2022). Management tenure is more important for actively managed funds than passive index funds.
The fund has 1 primary benchmark: S&P 500 (TR) (1970) index with a weighting of 100%. Neuberger Quality Equity A has 51 securities in its portfolio. The top 10 holdings constitute 62.4% of the fund’s assets. The fund meets the SEC requirement of being classified as a nondiversified fund. The fund is considered to have an ESG focus with its investment selection and management.
Neuberger Quality Equity A is part of the Equity global asset class and is within the U.S. Equity fund group. Neuberger Quality Equity A has 7.1% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 92.0%. There is 7.1% 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 Quality Equity A has 0.9% of the portfolio in cash.
Assets Under Management
The fund has $532 million in total assets, which is below the $6 billion average for the Large Blend 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.
NRAAX 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 Quality Equity A expense ratio is high compared to funds in the Large Blend category. Neuberger Quality Equity A has an expense ratio of 1.05%, which is 29% higher than its category average, making the fund expense ratio grade a D. 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 Quality Equity A has a portfolio turnover rate of 10%, indicating that holds its assets around 0.1 years. By way of comparison, the average portfolio turnover is 48% for the Large Blend category.
Recently, in the month of July 2026, Neuberger Quality Equity A returned -2.8%, which earned it a grade of F, as the Large Blend category had an average return of 0.4%. 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 Quality Equity A has a trailing yield of 0.00%, which is below the 0.56% 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 Quality Equity A Grades
Year to date, the fund has returned 13.5%, 4.2 percentage points better than the category, which translates into a grade of A. The fund has returned 25.0% over the past year (grade of A), 22.3% over the past three years (grade of A) and 13.1% per year over the past five years (grade of A) and 14.0% per year over the past 10 years (grade of C).
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NRAAX Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| NRAAX Return (NAV) | -2.8% | 5.5% | 25.0% | 22.3% | 13.1% | 14.0% |
| NRAAX Grade | F | A | A | A | A | C |
| +/- Category | -3.2% | 1.4% | 7.5% | 5.0% | 2.0% | 0.4% |
| Large Blend Avg | 0.4% | 4.1% | 17.5% | 17.3% | 11.1% | 13.7% |
| NRAAX Tax Cost Ratio | na | na | 0.6% | 1.3% | 1.7% | 1.7% |
NRAAX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| NRAAX Return (NAV) | 13.5% | 17.2% | 27.9% | 26.5% | -18.8% | 23.2% | 19.1% | 25.6% | -6.0% | 18.4% | 9.9% |
| NRAAX Grade | A | B | A | B | D | F | B | F | C | F | C |
| +/- Category | 4.2% | 1.3% | 5.9% | 2.8% | -1.5% | -3.4% | 1.6% | -4.2% | -0.1% | -2.9% | -0.3% |
| Large Blend Avg | 9.3% | 15.8% | 22.1% | 23.7% | -17.3% | 26.5% | 17.5% | 29.8% | -5.9% | 21.3% | 10.2% |
| Risk Measures | |
| Standard Deviation: | 13.0% |
| Total Risk Index: | 1.06 - Above Average |
| Category Risk Index: | 0.98 - Below Average |
| Category Risk Grade: | B (34% Rank) |
| Beta: | 0.89 |
| R-Squared: | 79% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Blend |
| Bond Investment Style: | na |
| Yield: | 0.0% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $4688 Mil |
| Fund Total Assets: | $ 532 Mil |
| Share Class Type: | A |
| Portfolio Turnover: | 10% |
Management Team
| Number of Managers: 1 | |||
| Longest Tenure: 4.3 years | |||
| Average Tenure: 4.3 years | |||
| Managers (Year): Hanson Daniel (2022) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 51 |
| % in Top 10 Holdings: | 62.4% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 7.1% |
Portfolio Allocation |
|
| Domestic Stock: | 92.0% |
| Foreign Stock: | 7.1% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 0.9% |
Purchase Information
| Fund Family: | Neuberger Berman |
| Phone Number: | 800-877-9700 |
| Website: | www.nb.com |
| Status: | Open |
| Inception Date: | May 27, 2009 |
| Min. Initial Purchase: | $1,000 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | No |
| Front Load Maximum: | 5.75% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | 0.25% |
Expenses and Fees | |
| Expense Ratio (%): | 1.05% ( Rating : High ) |
| Category Average Expense Ratio (%): | 0.81% |
| Share Class: | Neuberger Quality Equity Inv |
| Min. Subsequent Purchase: | $ 100 |
| Min. Subsequent IRA Purchase: | $ 0 |
