BGX vs. NLSIX
BGX (Blackstone Long-Short Credit Income Fund) and NLSIX (Neuberger Berman Long Short Fund) are both Long-Short funds. Over the past 10 years, BGX returned 6.00%/yr vs 6.63%/yr for NLSIX. Their 0.30 correlation means their historical movements had little consistent relationship. BGX charges 1.46%/yr vs 1.28%/yr for NLSIX.
Performance
BGX vs. NLSIX - Performance Comparison
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Returns By Period
In the year-to-date period, BGX achieves a -4.03% return, which is significantly lower than NLSIX's 0.35% return. Over the past 10 years, BGX has underperformed NLSIX with an annualized return of 6.00%, while NLSIX has yielded a comparatively higher 6.63% annualized return.
BGX
- 1D
- 0.00%
- 1M
- -0.53%
- 6M
- -2.87%
- YTD
- -4.03%
- 1Y
- -6.78%
- 3Y*
- 7.31%
- 5Y*
- 3.12%
- 10Y*
- 6.00%
- ALL TIME*
- 4.44%
NLSIX
- 1D
- 0.75%
- 1M
- -1.22%
- 6M
- 0.55%
- YTD
- 0.35%
- 1Y
- 2.44%
- 3Y*
- 6.41%
- 5Y*
- 4.45%
- 10Y*
- 6.63%
- ALL TIME*
- 6.46%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $671.76K | $683.72K | $622.96K | |
| $0.00 | $0.00 | $0.00 |
BGX vs. NLSIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BGX Blackstone Long-Short Credit Income Fund | -4.03% | 2.09% | 19.83% | 18.92% | -20.57% | 17.54% | -5.67% | 24.98% | -4.19% | 7.28% |
NLSIX Neuberger Berman Long Short Fund | 0.35% | 7.20% | 7.47% | 13.10% | -6.85% | 9.01% | 15.27% | 17.11% | -6.92% | 13.39% |
Correlation
The correlation between BGX and NLSIX is 0.30, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.30 |
Correlation (3Y) Balances recent behavior with more history. | 0.26 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.34 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.31 |
Correlation (All Time) Calculated using the full available price history since Dec 29, 2011 | 0.30 |
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Return for Risk
BGX vs. NLSIX — Risk / Return Rank
BGX
NLSIX
BGX vs. NLSIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Blackstone Long-Short Credit Income Fund (BGX) and Neuberger Berman Long Short Fund (NLSIX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| BGX | NLSIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.34 | ||
| Sortino ratioReturn per unit of downside risk | -1.91 | ||
| Omega ratioGain probability vs. loss probability | 0.85 | 1.08 | -0.23 |
| Calmar ratioReturn relative to maximum drawdown | -0.57 | 0.55 | -1.12 |
| Martin ratioReturn relative to average drawdown | -1.07 | 1.83 | -2.90 |
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Drawdowns
BGX vs. NLSIX - Drawdown Comparison
The maximum BGX drawdown since its inception was -47.40%, which is greater than NLSIX's maximum drawdown of -14.75%. Use the drawdown chart below to compare losses from any high point for BGX and NLSIX.
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Drawdown Indicators
| BGX | NLSIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -47.40% | -14.75% | -32.65% |
Max Drawdown (1Y)Largest decline over 1 year | -12.43% | -4.39% | -8.04% |
Max Drawdown (3Y)Largest decline over 3 years | -14.08% | -6.90% | -7.18% |
Max Drawdown (5Y)Largest decline over 5 years | -25.94% | -10.79% | -15.15% |
Max Drawdown (10Y)Largest decline over 10 years | -47.40% | -14.75% | -32.65% |
Current DrawdownCurrent decline from peak | -7.71% | -2.51% | -5.20% |
Average DrawdownAverage peak-to-trough decline | -7.00% | -2.01% | -4.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.64% | 1.31% | +5.33% |
Volatility
BGX vs. NLSIX - Volatility Comparison
The current volatility for Blackstone Long-Short Credit Income Fund (BGX) is 1.71%, while Neuberger Berman Long Short Fund (NLSIX) has a volatility of 1.87%. This indicates that BGX experiences smaller price fluctuations and is considered to be less risky than NLSIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BGX | NLSIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.71% | 1.87% | -0.16% |
Volatility (6M)Calculated over the trailing 6-month period | 5.79% | 4.66% | +1.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.81% | 5.55% | +2.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.64% | 6.69% | +4.95% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.50% | 7.35% | +10.15% |
BGX vs. NLSIX - Expense Ratio Comparison
BGX has a 1.46% expense ratio, which is higher than NLSIX's 1.28% expense ratio.
Dividends
BGX vs. NLSIX - Dividend Comparison
BGX's dividend yield for the trailing twelve months is around 9.11%, more than NLSIX's 0.05% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BGX Blackstone Long-Short Credit Income Fund | 9.11% | 8.87% | 9.89% | 11.71% | 8.15% | 7.01% | 8.76% | 9.35% | 11.74% | 7.12% | 9.01% | 8.72% |
NLSIX Neuberger Berman Long Short Fund | 0.05% | 0.05% | 0.02% | 0.97% | 7.01% | 1.13% | 2.15% | 2.39% | 5.91% | 0.00% | 0.00% | 0.01% |
Frequently Asked Questions
BGX and NLSIX have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NLSIX has higher volatility (1.87%) compared to BGX (1.71%). In terms of maximum drawdown, BGX dropped -47.40% vs NLSIX's -14.75%.
NLSIX currently has the higher Sharpe Ratio (0.43 vs -0.91), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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