CEF Advisors

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Neuberger Berman Municipal Fund (NBH)

National Muni Bond Funds - National Municipal (tax-free) Bond

Data as of Oct. 18, 2019
Market Price $15.20 (- $0.07)
NAV (Oct. 18, 2019) $15.37 ( $0.00)
Premium / Discount -1.11% (-0.46%)
Fund Info
Inception Sept. 24, 2002
Sponsor Neuberger Berman Management
Website https://www.nb.com/Pag...
Phone 800.877.9700
Objective: High current income exempt from Federal income tax; municipal securities
Related Indexes
National Municipal Bond Index
Capital & Leverage
Outstanding Shares 18,804,038
Total Assets (Reported: April 30, 2019) $454M
Estimated Total Assets $460M
Net Assets $289M
Market Cap $286M
Purchases Turnover 20.38%
Sales Turnover 20.90%
Total Leverage 37.20%
Structural Leverage (out of total) 100.00%
Portfolio Leverage (out of total) 0.00%
Expense Ratio 2.89%
Non Lev Exp Ratio 1.09%
Rel Lev Cost 3.01%
Discount Data
Average Discount (3 Yr) -4.62%
Discount Low(3 Yr) -15.16%
Discount High(3 Yr) 7.47%
Discount Rel Range 62.09%
Comp Discount 3.03
Discount St Dev (1Yr) 4.29
Z-Stat (6mo) 0.63
Z-Stat (1Yr) 1.06
Z-Stat (3Yr) 0.82
Comp Z-Stat (6mo) 0.20
Comp Z-Stat (3Yr) 0.39
Distribution Data
Market Yield 4.93%
Income Yield 4.93%
Lev Adj NAV Yield 3.55%
Distribution Frequency M
Current Distribution $0.062
Current Income $0.062
Ex-Date 10/30/19
Payable Date 11/15/19
Div Growth (3yr) -16.75%
Dividend Change -7.5% on 4/16/18
Expected Div 11/15/19
RoC (1yr) 0.00%
RoC (3yr) 0.00%
Volume & Liquidity
Average Daily $ (M) $634
Avg Volume 30 day 31,498
Avg Volume 90 day 41,711
Volume Trend -24.49%
Comp Volume Trend -6.51%
Correlation & Volatility
Price Correlation (1yr)
vs. S&P 500 (TR)
Price Correlation (1yr)
vs. CEFA's 12 Major CEF Sectors Index
Price Correlation (1yr)
vs. CEFA's National Municipal Bond Index
Most Correlated Peer (Mk Pr): KTF 71.0%
NAV - Price Correlation (30 d) 33.0%
NAV - Price Correlation (90 d) 44.2%
NAV - Price Correlation (1 Yr) 94.5%
Price St Dev (1Yr) 11.5%
NAV St Dev (1Yr) 2.5%
Earnings / Share (6/30/19) $0.056
Earn Coverage 89.05%
Earnings Trend Up
UNII / Share (6/30/19) $0.155
Rel UNII 20.67
UNII Trend Down
Bond Specific Data
Maturity 11.74
Duration 4.40
Credit Rating (rbo) A
Investment Grade 77.40%
Non Investment Grade 9.40%
Unrated Bonds 13.60%
Average Bond Price 95.00
Discount vs Price -6.11
Coupon 4.48%
Zero Coupon 9.49%
AMT 18.00%
AMT Yield 4.68%
Bond Calls Risk 15.51%
NAV Beta (2yr)
vs. S&P 500 (TR)
NAV Beta (2yr)
vs. CEFA's 12 Major CEF Sectors Index
NAV Beta (2yr)
vs. CEFA's National Municipal Bond Index


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NOTES: Distribution type sourced from CEFdata.com. For specific information about a fund's distribution sources, visit the fund sponsor's website.

The following information applies to closed-end funds and business development companies in general: Fund shares are not guaranteed or endorsed by any bank or other insured depository institution, and are not federally insured by the Federal Deposit Insurance Corporation (FDIC). Shares of closed-end funds (CEFs) and business development companies (BDCs) are subject to investment risks, including the possible loss of principal invested. There can be no assurance that fund objectives will be achieved. Closed-end funds and business development companies frequently trade at a discount to their net asset value. NAV returns are net of fund expenses, and assume reinvestment of distributions.

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