ETY vs. NBXG

Last updated Jul 18, 2026

ETY (Eaton Vance Tax Managed Diversified Equity Income Closed Fund) and NBXG (Neuberger Berman Next Generation Connectivity Fund) are both mutual funds - ETY is a Large Cap Growth Equities fund actively managed by Eaton Vance, while NBXG is a Technology Equities fund actively managed by Neuberger Berman. Both are actively managed. Over the past 5 years, ETY returned 8.61%/yr vs 4.16%/yr for NBXG. A 0.66 correlation means they provide meaningful diversification when combined. ETY charges 1.06%/yr vs 1.37%/yr for NBXG.

Performance

ETY vs. NBXG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Eaton Vance Tax Managed Diversified Equity Income Closed Fund (ETY) and Neuberger Berman Next Generation Connectivity Fund (NBXG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ETY achieves a -2.61% return, which is significantly lower than NBXG's 9.24% return.

ETY

• 1D: -1.72%
• 1M: -0.50%
• 6M: -2.41%
• YTD: -2.61%
• 1Y: -0.96%
• 3Y*: 13.34%
• 5Y*: 8.61%
• 10Y*: 12.13%

NBXG

• 1D: -2.55%
• 1M: -8.85%
• 6M: 7.60%
• YTD: 9.24%
• 1Y: 10.72%
• 3Y*: 21.79%
• 5Y*: 4.16%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

ETY vs. NBXG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
ETY Eaton Vance Tax Managed Diversified Equity Income Closed Fund	-2.61%	11.02%	33.11%	21.83%	-21.21%	14.79%
NBXG Neuberger Berman Next Generation Connectivity Fund	9.24%	24.23%	28.53%	34.92%	-41.41%	-10.72%

Correlation

The correlation between ETY and NBXG is 0.64, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.64
Correlation (3Y) Calculated over the trailing 3-year period	0.66
Correlation (5Y) Calculated over the trailing 5-year period	0.67
Correlation (All Time) Calculated using the full available price history since May 26, 2021	0.66

The correlation between ETY and NBXG has been stable across timeframes, ranging from 0.64 to 0.67 - a consistent structural relationship.

Return for Risk

ETY vs. NBXG — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ETY

ETY Risk / Return Rank: 2
ETY Sharpe Ratio Rank: 3
ETY Sortino Ratio Rank: 2
ETY Omega Ratio Rank: 2
ETY Calmar Ratio Rank: 2
ETY Martin Ratio Rank: 2

NBXG

NBXG Risk / Return Rank: 8
NBXG Sharpe Ratio Rank: 8
NBXG Sortino Ratio Rank: 8
NBXG Omega Ratio Rank: 8
NBXG Calmar Ratio Rank: 9
NBXG Martin Ratio Rank: 9

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ETY vs. NBXG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Tax Managed Diversified Equity Income Closed Fund (ETY) and Neuberger Berman Next Generation Connectivity Fund (NBXG). 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.

	ETY	NBXG	Difference
Sharpe ratio: Return per unit of total volatility	-0.07	0.48	-0.55
Sortino ratio: Return per unit of downside risk	-0.00	0.80	-0.81
Omega ratio: Gain probability vs. loss probability	1.00	1.10	-0.10
Calmar ratio: Return relative to maximum drawdown	-0.07	0.66	-0.73
Martin ratio: Return relative to average drawdown	-0.24	1.84	-2.08

ETY vs. NBXG - Sharpe Ratio Comparison

The current ETY Sharpe Ratio is -0.07, which is lower than the NBXG Sharpe Ratio of 0.48. The chart below compares the historical Sharpe Ratios of ETY and NBXG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

ETY vs. NBXG - Drawdown Comparison

The maximum ETY drawdown since its inception was -53.06%, roughly equal to the maximum NBXG drawdown of -51.76%. Use the drawdown chart below to compare losses from any high point for ETY and NBXG.

Drawdown Indicators

	ETY	NBXG	Difference
Max Drawdown Largest peak-to-trough decline	-53.06%	-51.76%	-1.30%
Max Drawdown (1Y) Largest decline over 1 year	-14.40%	-16.26%	+1.86%
Max Drawdown (3Y) Largest decline over 3 years	-21.28%	-22.08%	+0.80%
Max Drawdown (5Y) Largest decline over 5 years	-24.06%	-51.76%	+27.70%
Max Drawdown (10Y) Largest decline over 10 years	-42.46%	—	—
Current Drawdown Current decline from peak	-4.76%	-13.18%	+8.42%
Average Drawdown Average peak-to-trough decline	-7.56%	-20.73%	+13.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.00%	5.85%	-1.85%

Volatility

ETY vs. NBXG - Volatility Comparison

The current volatility for Eaton Vance Tax Managed Diversified Equity Income Closed Fund (ETY) is 4.43%, while Neuberger Berman Next Generation Connectivity Fund (NBXG) has a volatility of 10.98%. This indicates that ETY experiences smaller price fluctuations and is considered to be less risky than NBXG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ETY	NBXG	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.43%	10.98%	-6.55%
Volatility (6M) Calculated over the trailing 6-month period	11.21%	19.21%	-8.00%
Volatility (1Y) Calculated over the trailing 1-year period	13.66%	22.33%	-8.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.98%	26.63%	-8.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.89%	26.32%	-6.43%

ETY vs. NBXG - Expense Ratio Comparison

ETY has a 1.06% expense ratio, which is lower than NBXG's 1.37% expense ratio.

Dividends

ETY vs. NBXG - Dividend Comparison

ETY's dividend yield for the trailing twelve months is around 8.35%, less than NBXG's 9.40% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ETY Eaton Vance Tax Managed Diversified Equity Income Closed Fund	8.35%	7.76%	7.59%	7.92%	10.04%	7.01%	8.26%	8.08%	9.92%	8.30%	9.77%	9.03%
NBXG Neuberger Berman Next Generation Connectivity Fund	9.40%	8.73%	9.42%	10.98%	13.19%	3.47%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ETY and NBXG in my portfolio?

ETY and NBXG have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ETY or NBXG?

NBXG has higher volatility (10.98%) compared to ETY (4.43%). In terms of maximum drawdown, ETY dropped -53.06% vs NBXG's -51.76%.

Which has better risk-adjusted returns?

NBXG currently has the higher Sharpe Ratio (0.48 vs -0.07), 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.